CCRes_85-23 - Laserfiche WebLink

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This Rond is one of an issue in the total principal amount of $1,300,000 all of like date of original issue and • tenor, except as to number, maturity, interest rate, denomination and redemption privilege, which Rond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and pursuant to a resol»tion adopted by the City Council on June 10, 1985 (the "Resolution") for the purpose of providing money to finance the payment of certain capital and administration costs within nevelopment District No. 1 and is payable out of the General obligation Tax Increment Roods of 1985 Fund of the Issuer primarily from certain tax increments derived from a tax increment district located within the City of Falcon Heights. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of the principal and interest when the same become due, the full faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. The Bonds are issuable solely as fully registered Bonds in the denominations of $5,000 and integral multiples thereof and are exchangeable for fully registered Roods of other denominations in equal aggregate principal amounts and in_ authorized denominations at the principal office of the Rond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and • duties of the Rond Registrar. Copies of_ the Resolution are on file in the principal office of the Bond Registrar. This Rond is transferable by the Holder in person or by his attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Rond Registrar, all subject to the terms and conditions provided in the Resolution and to reasonaY~le regula- tions of the Issuer contained in any agreement with the Rond Registrar. Thereupon the Issuer shall execute and the. Rond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Roods in the name o£ the transferee (but not registered in blank or to "bearer" or similar designation), of an authorized denomination or denominations, in aggregate principal amount equal to the principal amount of this Bond, of the same maturity and bearing interest at the same rate. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of this Bond. • 10