CCRes_84-14 - Laserfiche WebLink

Home Browse Search

• ON REVERSE OF BOND This Bond is one of an issue in the total principal amount of $1,075,000 all of like date of original issue and tenor, except as to number, maturity, interest rate, denomina- tion and redemption privilege, which Bond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by the City Council on April 25, 1984 (the "Resolu- tion") for the purpose of providing money to refund the outstanding General Obligation Temporary Improvement Bonds of 1982, dated October 16, 1982, of the Issuer and to defray the expense of certain capital and administration costs within Development District No. 1 established by the Issuer and is payable out of the General Obligation Tax Increment Bonds of 1984 Fund of the Issuer. 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 Bonds of • other denominations in equal aggregate principal amounts and in authorized denominations at the principal office of the Bond Registrar, but only in the manner and subject to the limita- tions provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal office of the Bond Registrar. This Bond 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 Bond Registrar, all subject to the terms and conditions provided in the Resolution, and to reasonable regulations of the Issuer contained in any agreement with the Bond Registrar. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of 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.