Resolution No. 87-22 i
CI"L'Y OF TIGARD, OREGON
RESOLUTION NO. 87-�-�_
A RESOLUTION OF THE TIGARD CITY COUNCIL AMENDING RESOLUTION N. O. 87-15 DATED
JANUARY 27, 1987, WHICH AUTHORIZED THE SALE OF GENERAL OBLIGATION REFUNDING
BONDS, SERIES 1987.
WHEREAS, the City of Tigard, Washington County, Oregon (the "City) has adopted
Resolution No. 87-15 for the purpose of awarding the sale of General
Obligation Refunding Bonds Lo the low bidder, U.S. National Bank, and
WHEREAS, Exhibit "B" of Resolution No. 87-15 set for the maturity schedule of
the bonds to be sold in the total amount of $2,190,000, and
WHEREAS, an error in computation of the bond transaction structure caused
Exhibit "B" to be understated by $25,000, and
WHEREAS, in order to complete the. sale and delivery of the General Obligation
Refunding Bonds, it is necessary to amend Resolution No. 87-15 to reflect the
revised bond maturity schedule in Exhibit "B."
NOW, 'THEREFORE, BE IT RESOLVED by the Tigard City Council that:
1. Resolution No. 87-15 is hereby amended to reflect the corrections in
Exhibit "B" as follows:
Exhibit B
The Bonds shall mature on the first day of June in the
following principal amounts:
Year Amount Year Amount
1987 $ 25,000 1996 155,000
1988 35,000 1997 165,000
1989 35,000 1998 170,000
1990 35,000 1999 185,000
1991 40,000 2000 195,000
1992 40,000 2001 210,000
1993 40,000 2.002 215,000
1994 45,000 2003 235,000
1995 145,000 2.004 240,000
Total: $2,215,000
E n �
PASSED: This ��_ day of rC '( !' 1987.
P4a+}er - City of Tigard
ATTC`ounci l POfSide,vIt
ATTEST:
CitY Recorder - City of Tigard 6r
equf y
RESOLUTION NO, 8-7-
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