R94-48 09-12-94RESOLUTION NO. R94-48
A RESOLUTION OF THE CITY OF PEARLAND, TEXAS, APPROVING
THE RESOLUTION OF BRAZORIA COUNTY MUNICIPAL UTILITY
DISTRICT NO. 4, OF BRAZORIA COUNTY, TEXAS, AUTHORIZING
THE ISSUANCE OF ITS SERIES 1994 UNLIMITED TAX BONDS AND
WAIVING PREMIUM CALL PROVISIONS OF REDEMPTION
REQUIREMENTS FOR THE BONDS
WHEREAS, Brazoria County Municipal Utility District No. 4, of Brazoria County,
Texas (the "District"), is located within the extraterritorial jurisdiction of the City of
Pearland, Texas (the "City"); and
WHEREAS, by Resolution No. R80-13, dated June 9, 1980 (the "Creation
Resolution"), the City consented to the creation of the District and placed certain conditions
on the issuance of bonds by the District, including the approval by the City Council of the
District's resolution authorizing the issuance of such bonds (the "Bond Resolution") and the
inclusion of a provision in the Bond Resolution that the District reserves the right to
redeem its bonds on any interest payment date subsequent to the tenth anniversary of the
date of issuance of the bonds at a premium not to exceed two and one-half percent of par
value reducing one-half of one percent of par value each year thereafter to par value; and
WHEREAS, the District has requested that the premium call provisions of the
redemption requirements contained in the Creation Resolution be waived; and
WHEREAS, the City Council has considered the Bond Resolution prepared in
connection with the issuance of the District's proposed Series 1994 Unlimited Tax Bonds
and has found it to be acceptable; and
F:~R,H2189~BZM4~RESx, PEARLAND.AUT
WHEREAS, the City Council has considered the District's request for waiver of the
premium call provisions of the redemption requirements contained in the Creation
Resolution and has found such request to be valid and well taken; Now, Therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, THAT:
1. All of the matters and facts set forth in the preamble hereof are true and
correct.
2. The resolution of the board of directors of Brazoria County Municipal Utility
District No. 4, of Brazoria County, Texas, authorizing the issuance of its Unlimited Tax
Bonds, Series 1994, is hereby approved.
3. The District's request that the premium call provisions of the redemption
requirements contained in the Creation Resolution be waived as to its Unlimited Tax
Bonds, Series 1994, is hereby approved.
4. The Mayor of the City of Pearland is hereby authorized to execute such letters
or other documents required to be provided to the Attorney General of Texas in connection
with the issuance of such bonds by the District.
5. This Resolution shall take effect immediately from and after its passage in
accordance with the provisions of the Charter of the City of Pearland and it is accordingly
so resolved.
F:XRH2189'~BZM4~,ES~PEARLAND.AUT - 2 -
PASSED, APPROVED AND ADOPTED this/Z- day of September, A. D., 1994.
CITY OF PEARLAND, TEXAS
ATTEST:
City Secretary,:~
BY:Mavor~~~~~'~"d~/
APPROV D AS TO FORM:
F:~RH2189~BZM4XRESXPEARLAND.AUT - 3 -