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<br />. <br /> <br />. <br /> <br />. <br /> <br />then <br />following Resolution and moved its adoption: <br /> <br />introduced <br /> <br />the <br /> <br />RESOLUTION NO. <br /> <br />RESOLUTION AWARDING THE SALE OF THE <br />CITY'S GENERAL OBLIGATION <br />REFUNDING BONDS, SERIES 1993A <br />AND PROVIDING FOR THEIR ISSUANCE <br /> <br />A. WHEREAS, the Council believes it to be in the City's best <br />interest to consider a refunding of the callable bonds of (i) the <br />City's General Obligation Tax Increment Bonds, Series 1985A, dated <br />September 1, 1985, issued in the original principal amount of <br />$850,000 (the "1985A Bonds"), and (ii) the City's General <br />Obligation Tax Increment Bonds, Series 1985B, dated September 1, <br />1985, issued in the original principal amount of $130,000 (the <br />"1985B Bonds"), and the 1985A Bonds and the 1985B Bonds are <br />sometimes collectively referred to herein as the "Prior Bonds"; and <br /> <br />B. WHEREAS, the 1985A Bonds which mature after February 1, <br />1994, being in the aggregate principal amount of $415,000, are <br />subject to prepaYment on said date at the option of the City at the <br />redemption price of par plus accrued interest; and <br /> <br />C. WHEREAS, the 1985B Bonds which mature after February 1, <br />1994, being in the aggregate principal amount of $65,000, are <br />subject to prepaYment on said date at the option of the City at the <br />redemption price of par plus accrued interest; and <br /> <br />D. WHEREAS, the refunding of the callable Prior Bonds is <br />consistent with covenants made with the holders thereof and is <br />necessary and desirable for and will result in the reduction of <br />debt service cost to the City; and <br /> <br />E. WHEREAS, it is necessary and expedient to issue the <br />City's General Obligation Refunding Bonds, Series 1993A (the <br />"Bonds"), to provide moneys for a refunding of the callable 1985A <br />Bonds and the callable 1985B Bonds (which callable Prior Bonds are <br />referred to herein individually as the "1985A Refunded Bonds" and <br />the "1985B Refunded Bonds" and collectively as the "Refunded <br />Bonds"); and <br /> <br />F. WHEREAS, as provided in paragraph 2 of this Resolution, <br />the principal maturities of the Bonds are allocated between (i) <br />those portions thereof issued to refund the 1985A Refunded Bonds <br />(the "1985A Refunding Bonds") and (ii) those portions thereof <br /> <br />235883 <br /> <br />2 <br />