ORD 2026-24 Redemption of 2014 COs a o� (`) �•l Q - `f
ORDINANCE BY THE CITY OF TROPHY CLUB, TEXAS AUTHORIZING
THE REDEMPTION OF CERTAIN OUTSTANDING OBLIGATIONS; AND
CONTAINING OTHER PROVISIONS RELATING THERETO
WHEREAS, the Town of Trophy Club, Texas (the "Town") has heretofore issued its
Combination Tax and Revenue Certificates of Obligation, Series 2014 (the "Outstanding
Obligations") pursuant to an Ordinance of the Board of Trustees of the Town (the "Board")
approved on April 7, 2014 (the "Outstanding Obligation Ordinance"); and
WHEREAS, pursuant to the Outstanding Obligation Ordinance, the Town has the right to
redeem and defease all or a portion of the Outstanding Obligations in advance of their maturities;
and
WHEREAS, the Town desires to redeem and defease certain maturities of the Outstanding
Obligations as set forth in the scheduled attached hereto (the"Redeemed Obligations"). The Town
desires to redeem the Redeemed Obligations on the date specified by the Town in Exhibit A (the
"Redemption Date") and call such Redeemed Obligations for redemption, all as more specifically
described in Section 3(a); and
WHEREAS, the Outstanding Obligation Ordinance authorizes the Town to accomplish
such defeasance and redemption by providing notice as required in the Outstanding Obligation
Ordinances and depositing directly with the paying agent/registrar for the Outstanding Obligations,
lawfully available funds of the Town in an amount sufficient to provide for the defeasance and
redemption of the Outstanding Obligations on their Redemption Dates; and
WHEREAS, the Town desires to authorize the deposit of lawfully available funds of the
Town with the paying agent/registrar for the Outstanding Obligations, in an amount sufficient to
provide for the defeasance and redemption of the Redeemed Obligations on their Redemption Date
and to obtain a certificate of sufficiency from the paying agent/registrar for the Outstanding
Obligations (the "Sufficiency Certificate") or alternately, a deposit agreement between the paying
agent/registrar for the Outstanding Obligations,(a"Deposit Agreement"or Sufficiency Certificate,
whichever, shall be referred to herein as the "Sufficiency Verification") verifying the sufficiency
of the amounts deposited with paying agent/registrar for the Outstanding Obligations to pay the
principal of and interest on the Redeemed Obligations when due on their Redemption Date; and
WHEREAS, upon the deposit of funds with the paying agent/registrar for the Outstanding
Obligations pursuant to the Sufficiency Verification, the Town will have affected the redemption
and defeasance of the Redeemed Obligations under Chapter 1207, Texas Government Code, as
amended, and the Outstanding Obligation Ordinance, and the Redeemed Obligations shall no
longer be regarded as being outstanding, except for the purpose of being paid pursuant to the funds
deposited with the Paying Agent/Registrar for the Outstanding Obligations; and
WHEREAS, the Town Council of the Town (the "Town Council") hereby finds and
declares that the meeting at which this Ordinance is considered is open to the public, and that the
public notice of the time, place and purpose of the meeting was given, as required by Chapter 551,
Texas Government Code; now, therefore,
IM-#11176930.1
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB,
TEXAS:
Section 1. Findings. It is hereby found and determined that the matters and facts set
out in the recitals of this Ordinance are true and correct and incorporated herein for all purposes.
All capitalized terms not otherwise defined in the recitals or text of this Ordinance shall have the
meaning set forth in the Outstanding Obligation Ordinance.
Section 2. Approval of Redemption of Redeemed Obligations; Approval of Use of
Funds. It is hereby found and determined that sufficient lawfully available funds of the Town are
available for the purpose of redeeming and defeasing the Redeemed Obligations and to pay the
costs relating thereto. It is hereby found and determined that it is in the best interest of the Town
to use such funds, the principal amount set forth in Exhibit A, to effect the redemption of the
Redeemed Obligations. The Board hereby authorizes the use of such lawfully available funds (i)
in an amount sufficient to provide for the payment of the principal of and interest on the Redeemed
Obligations when due on the Redemption Date, as verified in the Sufficiency Verification, in order
to accomplish the redemption of the Redeemed Obligations and(ii) in an amount sufficient to pay
any costs relating to the redemption of the Redeemed Obligations. The deposit of such funds to
effectuate the redemption and defeasance of the Redeemed Obligations prior to the Redemption
Date is hereby authorized.
Section 3. Redemption Prior to Maturity of Redeemed Obligations. The Town
Council hereby designate the Outstanding Obligations forth on Exhibit A to be called for
redemption prior to their maturity on the Redemption Date set forth in Exhibit A as the Redeemed
Obligations,with such Redeemed Obligations to be redeemed at a price of par plus accrued interest
to the Redemption Date, and authorizes and directs notice of such defeasance and redemption to
be given in accordance with the terms of the Outstanding Obligation Ordinance.
Section 4. Related Matters. To satisfy in a timely manner all of the Town's obligations
under this Ordinance, the Town Manager, and all other appropriate officers and agents of the
Town are hereby authorized and directed to take all actions that are reasonably necessary to
provide for the defeasance and redemption of the Redeemed Obligations, including, without
limitation, paying the principal and interest on the Redeemed to the paying agent/registrar for the
Outstanding Obligations for payment of the Redeemed Obligations on their Redemption Date,
paying any fees or expenses required in connection with the redemption and defeasance of the
Redeemed Obligations and executing and delivering on behalf of the Town all Obligations,
consents, receipts, requests, agreements and other documents as may be necessary to direct the
application of funds of the Town consistent with the provisions of this Ordinance.
Section 5. Execution and Delivery of Documents; Actions to be Taken. The Mayor
and Town Secretary are each hereby authorized and directed to consent to, accept, execute, attest
and affix the Town's seal to such other agreements, assignments, certificates, contracts,
documents, instruments,releases,financing statements, letters of instruction, authorizations for the
expenditure of funds of the Town as may be required, written requests, and other papers, whether
or not mentioned herein, as may be necessary or convenient to carry out or assist in carrying out
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the purposes of this Ordinance and to take any and all actions required to be taken to effect the
purposes of this Ordinance in accordance with this Ordinance and the laws of the State of Texas
Section 6. No Personal Liability. No recourse shall be had for payment of principal of
or interest on any Redeemed Obligations or for any claim based thereon against any member of
the Town Council or employee of the Town.
Section 7. Severability. If any provision, section, subsection, sentence, clause or
phrase of this Ordinance, or the application of same to any person or set of circumstances is for
any reason held to be unconstitutional, void, invalid, or unenforceable, neither the remaining
portions of this Ordinance nor their application to other persons or sets of circumstances shall be
affected thereby, it being the intent of the Town Council in adopting this Ordinance that no portion
hereof or provision or regulation contained herein shall become inoperative or fail by reason of
any unconstitutionality, voidness, invalidity or unenforceability of any other portion hereof, and
all provisions of this Ordinance are declared to be severable for that purpose.
Section 8. Effective Date. This Ordinance shall take effect immediately from and after
its passage by the Town Council.
[The remainder of this page is intentionally left blank.J
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PASSED AND APPROVED the 24th day of August, 2026.
M o , /
6 ROPly wn o op lub, Texas
ATTEST:
lamixtus-15),\,a/i/v
Secretary,
Town of Trophy Club, Texas
[SEAL]
Signature Page to Ordinance
EXHIBIT A
REDEEMED OBLIGATIONS
Town of Trophy Club Texas
Combination Tax and Revenue Certificates of Obligation,
Series 2014 (the "Obligations")
Maturity Date Principal Amount Redemption Date
9/1/2034* $80,000 March 1, 2027
*Represents a Term Certificate maturing on September 1, 2034 with sinking fund installments on
September 1 in the years 2033 and 2034.
[Remainder of Page Intentionally Left Blank]
Exhibit A-1
IM-#11 176930.1
CERTIFICATION PERTAINING TO
PASSAGE OF AN ORDINANCE
STATE OF TEXAS §
TOWN OF TROPHY CLUB §
On the 24th day of August, 2026 the Town Council of the Town of Trophy Club, Texas,
convened in a regular meeting at the regular meeting place thereof, the meeting being open to the
public and notice of said meeting, giving the date, place and subject thereof, having been posted
as prescribed by Chapter 551, Texas Government Code, as amended; and the roll was called of
the duly constituted officers and members of the Town Council, which officers and members are
as follows:
Jeannette Tiffany, Mayor Sean Nelson )
Rhylan Rowe, Mayor Pro Tem T. Clark Simmons )
Dennis Sheridan ) Members of
Garry Ash ) the Council
Steve Flynn )
and all of said persons were present except AMA)E , thus constituting
a quorum. Whereupon, among other business, a written ordinance bearing the following caption
was introduced:
ORDINANCE BY THE CITY OF TROPHY CLUB, TEXAS AUTHORIZING
THE REDEMPTION OF CERTAIN OUTSTANDING OBLIGATIONS; AND
CONTAINING OTHER PROVISIONS RELATING THERETO
The Ordinance, a full, true and correct copy of which is attached hereto, was read and
reviewed by the Town Council.
Thereupon, it was duly moved and seconded that the Ordinance be finally passed and
adopted.
The Presiding Officer put the motion to a vote of the members of the Town Council, and
the Ordinance was finally passed and adopted by the following vote:
AYES NAYS: ABSTENTIONS:
IM-#11188941.1
THIS CERTIFICATE IS CERTIFIED TO BE TRUE AND CORRECT, and to correctly
reflect the duly constituted officers and members of the Town Council of said Town, and the
attached and following copy of said Ordinance is hereby certified to be a true and correct copy of
an official copy thereof on file among the official records of the Town, all on this them day
of 6,1(,ts4' , 2026.
610(nA)
Town Secretary,
Town of Trophy Club, Texas
,40
4
UAW
Certification for Ordinance
Authorizing Redemption of Bonds