Laserfiche WebLink
<br />539895v2 JAE LN140-118 B-1 <br />EXHIBIT B <br /> <br />FORM OF BOND <br /> <br /> <br />No. R-_____ UNITED STATES OF AMERICA $_________ <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF LINO LAKES <br /> <br />GENERAL OBLIGATION BOND <br />SERIES 2018A <br /> <br /> <br />Rate <br /> <br />Maturity <br />Date of <br />Original Issue <br /> <br />CUSIP <br /> <br /> February 1, 20__ December 19, 2018 <br /> <br />Registered Owner: CEDE & CO. <br /> <br /> The City of Lino Lakes, Minnesota, a duly organized and existing municipal corporation in Anoka <br />County, Minnesota (the “City”), acknowledges itself to be indebted and for value received hereby promises to <br />pay to the Registered Owner specified above or registered assigns the principal sum of $__________ on the <br />maturity date specified above, with interest thereon from the date hereof at the annual rate specified above <br />(calculated on the basis of a 360 day year of twelve 30 day months), payable February 1 and August 1 in each <br />year, commencing August 1, 2019, to the person in whose name this Bond is registered at the close of business <br />on the fifteenth day (whether or not a business day) of the immediately preceding month. The interest hereon <br />and, upon presentation and surrender hereof, the principal hereof are payable in lawful money of the United <br />States of America by check or draft by U.S. Bank National Association, Saint Paul, Minnesota, as Registrar, <br />Paying Agent, Transfer Agent, and Authenticating Agent, or its designated successor under the Resolution <br />described herein. For the prompt and full payment of such principal and interest as the same respectively <br />become due, the full faith and credit and taxing powers of the City have been and are hereby irrevocably <br />pledged. <br /> <br /> The City may elect on February 1, 2028, and on any date thereafter to prepay Bonds due on or after <br />February 1, 2029. Redemption may be in whole or in part and if in part, at the option of the City and in such <br />order as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will <br />notify The Depository Trust Company (“DTC”) of the particular amount of such maturity to be prepaid. DTC <br />will determine by lot the amount of each participant’s interest in such maturity to be redeemed and each <br />participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. <br />Prepayments will be at a price of par plus accrued interest. <br /> <br /> This Bond is one of an issue in the aggregate principal amount of $7,169,000 all of like original issue <br />date and tenor, except as to number, maturity date, redemption privilege, and interest rate, all issued pursuant <br />to a resolution adopted by the City Council on November 13, 2018 (the “Resolution”), for the purpose of <br />providing money to defray the expenses incurred and to be incurred in financing certain street <br />reconstruction and in making various improvements to the water system and sanitary sewer system of the City, <br />pursuant to and in full conformity with the home rule charter of the City and the Constitution and laws of the <br />State of Minnesota, including Minnesota Statutes, Chapters 444 and 475, including Section 475.58, subdivision <br />3b, and the principal hereof and interest hereon are payable in part from ad valorem taxes and in part from net