ORDINANCE NO. ________ Authorizing the issuance of CITY OF DALLAS, TEXAS
ProposalAI Summary
This ordinance, adopted February 14, 2024, authorizes the City of Dallas, Texas to issue General Obligation Refunding Bonds. The ordinance establishes the legal framework for the bonds, including definitions, security provisions backed by a tax levy for payment, and general terms governing bond issuance, denomination, maturity, interest rates, registration, transfer, and redemption. The document addresses administrative mechanisms such as book-entry-only systems, successor securities depositories, and payment procedures through Cede & Co., with provisions for optional and mandatory sinking fund redemption before maturity. No specific bond amount, interest rate, maturity date, or tax rate is stated in the provided excerpt.
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