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CH Y OF NOKII I OLMS I ED <br />ORDINAN('I NO. 2022-49 <br />BY: Macor.lones <br />PROVIDING FOR THE FUNDING OF 'THE OPTIONAL <br />REDEMP'T'ION OF CERTAIN OF THE CITY'S OUTSTANDING <br />FIRE STATION IMPROVEMENT REFUNDING BONDS, SERIFS <br />2015, DATED AS OF DECEMBER 15, 2015, AND AUTDORIZING <br />AND DIRECTING THE CALL FOR OPTIONAL REDEMPTION OF <br />THOSE BONDS, AND DECLARING AN EMERGENCY. <br />W I ILRLAS, pursuant to Ordinance No. 2015-88, passed on October 6, 2015 (the Original <br />2015 Bond Legislation), the City issued its Fire Station Improvement Refunding Bonds, Series <br />2015, dated as of December 15, 2015 (the Serics 2015 Bonds), in the aggregate principal amount <br />of $2.260.000. to provide funds to refund at a (ower interest cost certain of the City's outstanding <br />Capital Improvement and Refunding Bonds, Series 2006B, that were issued for the purpose of <br />constructing, furnishing, equipping and otherwise improving a lire station, providing fire apparatus <br />and equipment to be hOLISC(i therein and acquiring, preparing and otherwise improving real estate and <br />interests therein for its site: and <br />WHI(RI(AS. the Series 2015 Bonds are currently outstanding in the aggregate principal <br />amountof$1 (080,000 it lie Outstanding Serics 2015 Bonds) inaturing on December I as follows: <br />Year Principal Amount <br />2022 <br />$255.000 <br />2023 <br />265.000 <br />2024 <br />275,000 <br />2025 <br />285,000 <br />and <br />W I ILRLAS. the Outstandine Series 2015 Bonds maturing on or atte December I, 2023, <br />are subject to optional redemption on or after December I. 2022, hl' and at the sole option of the <br />City, in whole or in part. at a redemption price equal to 100% ofthe principal amount redeemed_ <br />plus accrued interest to the redemption date. upon providing the notice required by the Original <br />2015 Bond I.egislation: and <br />WHEREAS, this Council finds and determines that it is necessary and in the best interest <br />of the City to fund the call of the $825,000 of Outstanding Series 2015 Bonds (the Redeemed <br />Series 2015 Bunds) nor optional redemption on December 1.20^_^_. from money lawfully aeailable <br />and appropriated litr that purpose: <br />