HomeMy WebLinkAbout12-22-1955 Regular MeetingSTA` h; OF ALABCQ,.A
CO Uh lY OF BaLL .IN
`lhe City Council of the City of Fairho«e met in regular session
at the City, ?all on Thursday, Dec. 22, 1955 -, ith ti:e following
members present: .ayor E. B. Overton, City Clerk L,arie Loore,
City , anager C. -:. %'iemeyer,Councilrnen I_. 0. Berglin, L. I..
:Elatchford, F. C. acon, and J. D. r.'ason. Councilman. 1i. %=. Lr•own
being absent.
Lotion by Councilman Berglin, seconded by Councilman ,'acon, that
the follov,ing hesolution be adopted. Tlv--otion car: ied.
;resolution
`c;=K:�,:�'.LAS, there is on deposit in the Surplus Fund of the Patural
Gas System of the City sufficient funds to redeer_! prior to
maturity �30,000 principal amount of Natu,°al Gas hevenue 3 3/4 ,
Bonds, and
- 1,L1AS, it is necessary for bondholders to be notified not
less than 30 days prior to the redemption date.
NO'�,;, Ti1i"...:1'OiJE', BL IT LESOLVLL:
1. That the City hereby elects to redem from Surplus-tievenues
on hand .Bonds X`os. 726/55, inclusive, due 1900 on Februyry 1, 1956,
at par plus accrued interest {plus a premiun of one year s interest.
2. That tze Trustee be and is hereby instructed to pay such bonds
when presented with fun0 s out of the Surplus Funds of the 'Fatu-
ral Gas ;system.
3. That 'yatkins, ; orrow C- Company be authorized to negotiate
with t.e bondholders in an attempt to save the cost of publishing
a notice of redemption but that if such notice must be published,
that said Watkins, 1._orrow &- Company be and is hereby authorized
to publish an appropriate notice of redemption in accorc<ance
with tine terms of the authorizing ordinance.
Upon roll call, the resolution was unanimously adopted.
There being no further business it was duly moved and seconded
that the meetin adjourn. 1-otion carried.
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E. B. Overton, Fayor
Attests
i y Clerk
I, 1 arie I:Toore, City Clerk of the City of Pirhope, Alabama, do
hereby certify th-t tie above resolution is a true and correct
copy of minutes of a legal meeting of the City Council of the
City of Fairhope, Alabama, held on the .2Z day of Leaember,l� 55•
Ii vIli SU ti r ;i.EOFI have hereunto set my hand and seal this
�:ay of December, _1_a55.
C ty Clerk
(SEAL)
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