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August 19, 2011 - City of Alton Ordinance No. 2011-05

ORDINANCE 2011-05

AN ORDINANCE AUTHORIZING THE ISSUANCE OF “CITY OF ALTON, TEXAS GENERAL OBLI-GATION REFUNDING BONDS, SERIES 2011” IN A MAXIMUM PAR AMOUNT OF $5,000,000, AT AN INTEREST RATE (NIC) TO NOT EXCEED 5% AND ACHIEVING A MINIMUM PRESENT VALUE SAV-INGS OF 3%; APPROVING AND AUTHORIZING THE EXECUTION OF A             PAYING AGENT/REGIS-TRAR AGREEMENT, AN OFFICIAL STATEMENT OR A PURCHASE AND INVESTMENT             LETTERAND OTHER INSTRUMENTS AND PROCEDURESRELATED THERETO;DELEGATING AUTHORITY TO THE MAYOR AND THE CITY MANAGER (EITHER ONE DULY AUTHORIZED TO ACT ON HIS OWN) TO SELECT OUTSTANDING BONDS TO BE REFUNDED AND TO DECIDE WHETHER IT IS A NEGOTIATED, COMPETITIVE             OR PRIVATELY PLACED FINANCING; CALLING CERTAIN BONDS FOR REDEMPTION AND APPROVING ALL FINAL TERMS OF THE BONDS; APPROVING OTHER MATTERS APPURTENANT THERETO AND WAIVING SECOND AND THIRD READING.

READ, APPROVED, AND PASSED on this the 9th day of August, 2011.

Salvador Vela, Mayor

ATTEST:  Baudelia Rojas,

City Secretary

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CoverageAreaThe Progress Times is the hometown newspaper for the local communities of Mission, Sharyland, Alton, Palmview, La Joya and surrounding areas in Western Hidalgo County. We have a staff of veteran reporters who work diligently every week to bring our readers the latest news as it affects their hometown area and people.

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