01-27-1993 Council Agenda - Laserfiche WebLink

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who is the Holder hereof at the close of business on a date (the "Special Record Date ") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given to Bondholders not less than ten days prior to the Special Record Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America. Redemption. all installments of principal on the Bond are subject to redemption and prepayment at the option of the Issuer on any date at a price of par plus accrued interest. Redemption may be in whole or in part. If redemption is in part, those installments remaining unpaid which have the latest maturity date shall be prepaid first. Installments or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Published notice of redemption shall in each case be given in accordance with law, and mailed notice of redemption shall be given to the paying agent (if other than the Issuer) and to the Holder. Partial Redemption. If the Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the Issuer or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the Issuer and Bond Registrar duly executed by the Holder thereof or his, her or its attorney duly authorized in writing) and the Issuer shall execute (if necessary) and the Bond Registrar shall deliver to the Holder, without service charge, a new Bond or Bonds of the same series having the same stated maturity and interest rate and of any authorized denomination or denominations, as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. Purpose; General Obligation. This 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 of the Issuer on January 27, 1993 (the "Resolution "), for the purpose of providing money to finance a portion of certain capital and administration costs within Development District No. 2 of the Issuer. This Bond is payable out of the General Obligation Taxable Tax Increment Bond, Series 1993A Fund of the Issuer. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, 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. Denomination; Exchange; Resolution. The Bond is issuable solely as a fully registered bond and is exchangeable 232758 Page 32 5