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09/26/2005 Council Packet
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09/26/2005 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
09/26/2005
Council Meeting Type
Regular
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• <br />• <br />(b) In the event of any current or anticipated deficiency in Assessments the <br />City Council will levy ad valorem taxes in the amount of the current or anticipated <br />deficiency. <br />(c) The City will keep complete and accurate books and records showing: <br />receipts and disbursements in connection with the Improvements, Assessments levied <br />therefor and other funds appropriated for their payment, collections thereof and <br />disbursements therefrom, monies on hand and, the balance of unpaid Assessments. <br />(d) The City will cause its books and records to be audited at least annually <br />and will furnish copies of such audit reports to any interested person upon request. <br />4.03. No Tax Levy Required. It is hereby determined that the estimated collections of <br />Assessments and interest thereon for payment of principal and interest on the Bonds will produce <br />at least five percent in excess of the amount needed to meet when due, the principal and interest <br />payments on the Bonds and that no tax levy is needed at this time. <br />4.04. County Auditor Certificate as to Registration. The City Clerk is authorized and <br />directed to file a certified copy of this resolution with the Manager of Property Records & <br />Taxation of Anoka County and to obtain the certificate required by Minnesota Statutes, Section <br />475.63. <br />Section 5. Authentication of Transcript. <br />5.01. City Proceedings and Records. The officers of the City are authorized and directed <br />to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies <br />of proceedings and records of the City relating to the Bonds and to the financial condition and <br />affairs of the City, and such other certificates, affidavits and transcripts as may be required to <br />show the facts within their knowledge or as shown by the books and records in their custody and <br />under their control, relating to the validity and marketability of the Bonds, and such instruments, <br />including any heretofore furnished, may be deemed representations of the City as to the facts <br />stated therein. <br />5.02. Certification as to Official Statement. The Mayor, City Administrator and Finance <br />Director are authorized and directed to certify that they have examined the Official Statement <br />prepared and circulated in connection with the issuance and sale of the Bonds and that to the best <br />of their knowledge and belief the Official Statement is a complete and accurate representation of <br />the facts and representations made therein as of the date of the Official Statement. <br />CAW- 268337v1 <br />LN 140 -93 <br />
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