HomeMy WebLinkAboutOrd.5384.03-01-2021 BILL NO. 21-25 ORDINANCE NO.5 3 f
AN ORDINANCE AUTHORIZING THE APPROPRIATION OF $503,719.07 FOR
THE PURPOSE OF DEFEASING THE CITY'S WATERWORKS SYSTEM
REVENUE BONDS (STATE OF MISSOURI — DIRECT LOAN PROGRAM —
ARRA), SERIES 2010, AND AUTHORIZING CERTAIN ACTIONS IN
CONNECTION WITH THE DEFEASANCE OF THE BONDS.
WHEREAS, the City of Cape Girardeau. Missouri (the "City") has heretofore issued and has
outstanding $515,800 principal amount of Waterworks System Revenue Bonds (State of Missouri —
Direct Loan Program—ARRA), Series 2010 (the "Series 2010 Bonds"), which the City desires to redeem
and pay in full with available money in the Water Fund;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CAPE
GIRARDEAU,AS FOLLOWS:
Section 1. Redemption of Series 2010 Bonds. The Series 2010 Bonds are hereby called for
redemption and payment on April 1, 2021 prior to the January 1, 2030. maturity date, at the redemption
price of 100% of the principal amount thereof, plus accrued interest thereon to the redemption date. The
officers and employees of the City are hereby directed to cause notice of the call for redemption and
payment of the Series 2010 Bonds to be given in the manner provided in the ordinance authorizing the
Series 2010 Bonds and to take such other action as may be necessary to effect the redemption and payment
of the Series 2010 Bonds.
Section 2. Appropriation of Money. The City Council hereby irrevocably budgets and
appropriates $503,719.07 from the Water Fund to be used to defease the Series 2010 Bonds.
Section 3. Further Authority. The officers, agents and employees of the City, including
the City Manager, Finance Director and City Clerk, are authorized and directed to execute all documents
and take such actions as they may deem necessary or advisable to carry out and perform the purposes of
this Ordinance.
Section 4. Effective Date. This Ordinance shall take effect and be in full force 10 days
from and after the date of its passage by the City Council.
PASSED and APOPTED by the City Council of the City of Cape Girardeau. Missouri, this
day of Arc'4 .2021.
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.y ,, Bob Fox,Mayor
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