09/09/1996 Council Packet - Laserfiche WebLink

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Extract of Minutes of Meeting of the City Council of the City of Lino Lakes, Anoka County, Minnesota Pursuant to due call and notice thereof, a regular meeting of the Council of the City of Lino Lakes, Minnesota, was duly held in the City Hall in the City of Lino Lakes, on Monday, September 9, 1996, commencing at 6:30 o'clock P.M. The following members were present: and the following were absent: * * * Member introduced the following written resolution and moved its adoption the reading of which was dispensed with by unanimous consent: RESOLUTION NO. 96 - 100 RESOLUTION PROVIDING FOR THE PREPAYMENT AND REDEMPTION OF CERTAIN OUTSTANDING GENERAL OBLIGATION BONDS OF THE CITY BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka County, Minnesota, as follows: 1. The City has issued and sold its General Obligation Temporary Improvement Bonds, Series 1994A, dated November 1, 1994 (Bonds) in the total principal amount of $2,095,000. Bonds maturing after November 1, 1996, are subject to redemption and prepayment on that and on any interest payment date thereafter at a price of par plus accrued interest. 2. It is determined that it is in the best interests of the sound financial management of the City that Bonds maturing on November 1, 1997, be prepaid and redeemed on November 1, 1996 and those Bonds are hereby called for redemption on that date. DJK108681 LN140-53