Ordinance No. 12,379ORDINANCE NO. 12,379
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS,
AUTHORIZING THE REDEMPTION PRIOR TO MATURITY OF OUTSTANDING
CITY OF BAYTOWN, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE
IMPROVEMENT AND REFUNDING BONDS, SERIES 2003; AND PROVIDING
FOR THE EFFECTIVE DATE THEREOF.
WHEREAS, the City Council (the "City Council ") of the City of Baytown, Texas (the "City"),
has heretofore issued its Waterworks and Sewer System Revenue Improvement and Refunding Bonds,
Series 2003 (the "Bonds ") pursuant to an ordinance of the City, dated April 10, 2003 (the "Bond
Ordinance "); and
WHEREAS, pursuant to the Bond Ordinance, the City has the right to redeem all or a portion of
the Bonds in advance of their maturities; and
WHEREAS, the City desires to redeem the outstanding Bonds, as more specifically described in
Section 3 herein (the "Redeemed Bonds ") in advance of their maturities on December 2, 2013 (the
"Redemption Date "); and
WHEREAS, the Bond Ordinance authorizes the City to accomplish such redemption by
depositing directly with The Bank of New York Mellon Trust Company, N.A., successor to JP Morgan
Chase Bank, the paying agent for the Bonds (the "Paying Agent/Registrar "), available funds of the City,
in an amount sufficient to provide for the payment or redemption of the Redeemed Bonds on the
Redemption Date; and
WHEREAS, upon the deposit of funds referred to above, the Redeemed Bonds shall no longer be
regarded as being outstanding, except for the purpose of being paid pursuant to such deposit, and the
pledges, liens, trust and all other covenants, provisions, terms and conditions of the Bond Ordinance shall
be discharged, terminated and defeased; NOW THEREFORE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS:
Section 1: Recitals. It is hereby found and determined that the matter and facts set out in
the recitals to this ordinance are true and correct and incorporated herein for all purposes. All capitalized
terms not otherwise defined in the recitals to this ordinance shall have the meaning set forth in the Bond
Ordinance.
Section 2: Deposit with Paving A eg nt/Re istrar. Available funds of the City currently on
deposit in the City's Waterworks and Sewer System Revenue Bonds Reserve Fund in an amount
sufficient to pay all principal of and interest on the Redeemed Bonds due on the Redemption Date and all
costs incurred in the redemption of the Redeemed Bonds shall be deposited directly with the Paying
Agent/Registrar on the Redemption Date. Any amounts remaining on deposit in the City's Waterworks
and Sewer System Revenue Bonds Reserve Fund after such deposit shall be transferred to the City's
interest and sinking fund and used to pay debt service on the City's outstanding obligations.
Section 3: Redemption Prior to Maturity of Redeemed Bonds. The City hereby calls the
Bonds described below for redemption prior to maturity on the Redemption Date, at a price of par plus
accrued interest to the Redemption Date, and authorizes and directs notice of such redemption to be given
in accordance with the terms of the Bond Ordinance:
Maturity Date
Principal Amount
Redemption Date
2/1/2014
$605,000
12/2/2013
2/1/2015
10,000
12/2/2013
2/1/2016
10,000
12/2/2013
2/1/2017
10,000
12/2/2013
2/1/2018
10,000
12/2/2013
2/1/2019
10,000
12/2/2013
2/1/2020
10,000
12/2/2013
2/1/2021
10,000
12/2/2013
2/1/2022
10,000
12/2/2013
2/1/2023
10,000
12/2/2013
Section 4: Related Matters. To satisfy in a timely manner all of the City's obligations under
this ordinance, the Mayor, the City Manager, the Director of Finance and all other appropriate officers
and agents of the City are hereby authorized and directed to take all actions that are reasonably necessary
to provide for the redemption of the Redeemed Bonds, including, without limitation, paying any fees or
expenses required in connection with the redemption and executing and delivering on behalf of the City
all Bonds, consents, receipts, requests, and other documents as may be necessary to direct the application
of funds of the City consistent with the provisions of this ordinance.
Section 5: No Personal Liability. No recourse shall be had for payment of principal of or
interest on any Bonds or for any claim based thereon against any member of the City Council or
employee of the City.
Section 6: This ordinance shall take effect immediately from after its passage by the
City Council of the City of Baytown.
INTRODUCED, READ and PASSED by the affirmative vote f the City Council of the City of
Baytown this the 24th day of October, 2013. A
U�pFgAYT�4VyTfi� �BTEPHEN H. DONCARLOS, Mayor
ATTEST:
ALISHA
OF
APPROVED AS TO
City Clerk
4wnee�,��
ACIO RAMIREZ, SR ity Attomey
R:T=n\ Files \City Counci1\0rdinances\2013 \0ctober 24\DM. #4390276- vi - City_of_Bayt own_ _Defeazance_Ordinance_(2003_WWSS Rev_Imp_Ref_Bds).DOC