2016-010 Council Resolution - Laserfiche WebLink

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EXHIBIT A UNITED STATES OF AMERICA STA 1'E OF MINNESOTA COUNTY CITY OF $ GENERAL OBLIGATION CAPITAL NOTE, SERIES 2016A The City of , County, Minnesota (the "City"), certifies that it is indebted and for value received promises to pay to the City of Circle Pines, Minnesota, or assigns duly certified on the Certificate of Registration attached to and made a part of this Note (the "Owner"), in the manner hereinafter set forth, the $ principal amount of this Note in the principal installments due on the first day of each month in the years and in the amounts, respectively, as follows, with each such principal installment bearing interest until paid in the amounts as follows: Principal Interest Principal Interest Month/Day/Year Installment Payment Month/Day/Year Installment Payment Interest shall be payable monthly on the first day of each month, commencing 1, 20, and shall be calculated on the basis of a 360 day year consisting of twelve 30 day months. At the time of final payment of all principal of and interest on this Note, the Owner shall surrender this Note to the City [Finance Director] at the City Hall, in Minnesota. Notwithstanding anything to the contrary herein, the City's proportionate share of any amount transferred from the Capital Account to the Debt Service Account (as such terms are defined in the Issuer Note Resolution, defined hereinafter) upon completion of the Project shall be applied as a credit against the principal or interest payment or payments due on this Note after such transfer. The term "proportionate share" means the original principal amount of this Note as a share of the original principal amount of the Issuer Note. Manner of Payment. The principal of and interest on this Note are payable when due by check or draft mailed or otherwise delivered by or on behalf of the City [Finance Director] to the Owner hereof as of the end of the fifteenth (15th) day of the month, whether or not a business day (the "Record Date"), immediately preceding the applicable payment due date; provided that if the City shall be in default in payment of interest due on said date, whenever money becomes available for payment of such defaulted interest, the City [Finance Director] shall establish a special Record Date with respect to the payment thereof and shall mail written notice of the special Record Date not less than fifteen (15) days prior to such date to the person that was the Owner of the Note as of the close of business of the City on the fifth (5th) business day of the City preceding such mailing, and the Owner as of the special Record Date shall be entitled to A-1 7393412v2