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Resolution No. 03-06 (Approved)
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Resolution No. 03-06 (Approved)
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3/28/2019 9:08:40 AM
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3/28/2019 8:55:32 AM
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EDA
EDA Document Type
EDA Resolution
Meeting Date
09/22/2003
Resolution #
03-06
Resolution Title
Approving Contracts for Private Development and Awarding the Sale of, And Providing the Form, Terms, Coventants, and Directions For the Issuance of Its $638,400 Tax Increment Revenue Note, Series 2004
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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br /> <br /> <br /> <br /> <br /> <br />City Administrator Mayor <br /> <br /> <br /> <br /> <br /> REGISTRATION PROVISIONS <br /> <br /> <br /> The ownership of the unpaid balance of the within Note is registered in the bond register of <br />the City Administrator, in the name of the person last listed below. <br /> <br /> Date of Signature of <br />Registration Registered Owner____ City Administrator <br /> <br /> Panattoni Development Co., LLC <br /> Federal Tax I.D. No. 41-1714241 <br /> <br /> <br />Section 3. Terms, Execution and Delivery. <br /> <br />3.01. Denomination, Payment. The Note shall be issued as a single typewritten note <br />numbered R-1. <br /> <br />The Note shall be issuable only in fully registered form. Principal of the Note shall be <br />payable by check or draft issued by the Registrar described herein. <br /> <br />3.02. Payment Dates. Installments of Principal of the Note shall be payable by mail to the <br />owner of record thereof as of the close of business on the fifteenth day of the month preceding the <br />Payment Date, whether or not such day is a business day. <br /> <br />3.03. Registration. The Authority hereby appoints the City Administrator to perform the <br />functions of registrar, transfer agent and paying agent (the “Registrar”). The effect of registration <br />and the rights and duties of the Authority and the Registrar with respect thereto shall be as follows: <br /> <br />(a) Register. The Registrar shall keep at its office a bond register in which the Registrar <br />shall provide for the registration of ownership of the Note and the registration of transfers and <br />exchanges of the Note. <br /> <br />(b) Transfer of Note. Upon surrender for transfer of the Note duly endorsed by the <br />registered owner thereof or accompanied by a written instrument of transfer, in form reasonably <br />satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly <br />authorized by the registered owner in writing, the Registrar shall authenticate and deliver, in the <br />SJB-237079v2 <br />C-4 <br />LN140-81 <br /> <br />
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