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CCR2019021-Water Bonds COMMON COUNCIL - CITY OF MUSKEGO RESOLUTION #021-2019 RESOLUTION AUTHORIZING THE REDEMPTION OF WATER SYSTEM REVENUE REFUNDING BONDS, DATED NOVEMBER 8, 2011 WHEREAS, the City of Muskego, Waukesha County, Wisconsin (the "City") has outstanding its Water System Revenue Refunding Bonds, dated November 8, 2011, which mature on May 1, 2020 (the "2011 Bonds"); WHEREAS, this Common Council has determined that it is necessary and desirable to call the 2011 Bonds for redemption on May 1, 2019 with City funds on hand; NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Muskego, Waukesha County, Wisconsin, that the 2011 Bonds are called for prior payment on May 1, 2019 at the price of par plus accrued interest to the date of redemption. The City hereby directs the City Clerk to work with its financial advisor, Hutchinson, Shockey, Erley & Co., to cause timely notice of redemption, in substantially the form attached hereto as Exhibit A and incorporated herein by this reference (the "Notice"), to be provided at the times, to the parties and in the manner set forth on the Notice. Passed this 12th day of March, 2019. Approved this 12th day of March, 2019. ______________________________ Mayor Attest: ______________________________ City Clerk QB\\56296898.1 EXHIBIT A NOTICE OF FULL CALL* City of Muskego Waukesha County, Wisconsin Water System Revenue Refunding Bonds Dated November 8, 2011 NOTICE IS HEREBY GIVEN that the Bonds of the above-referenced issue which mature on the date and in the amount; bear interest at the rate; and have the CUSIP No. as set forth below have been called for prior payment on May 1, 2019 at a redemption price equal to 100% of the principal amount thereof plus accrued interest to the date of prepayment: Maturity Date Principal Amount Interest Rate CUSIP No. 05/01/2020 $475,000 4.00% 627655DG5 Upon presentation and surrender of said Bonds to Associated Trust Company, National Association, Green Bay, Wisconsin, the registrar and fiscal agent for said Bonds, the registered owners thereof will be paid the principal amount of the Bonds plus accrued interest to the date of prepayment. Said Bonds will cease to bear interest on May 1, 2019. By Order of the Common Council City of Muskego City Clerk Dated March 12, 2019 * To be provided to Associated Trust Company, National Association, Green Bay, Wisconsin, at least thirty-five (35) days prior to May 1, 2019. The registrar and fiscal agent shall be directed to give notice of such prepayment by registered or certified mail, overnight express delivery, facsimile transmission, electronic transmission or in any other manner required by The Depository Trust Company, to The Depository Trust Company, Attn: Supervisor, Call Notification Department, 570 Washington Blvd., Jersey City, NJ 07310, not less than thirty (30) days nor more than sixty (60) days prior to May 1, 2019 and to the MSRB electronically through the Electronic Municipal Market Access (EMMA) System website at www.emma.msrb.org. QB\\56296898.1