2006-117 Council Resolution - Laserfiche WebLink

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• Year Amount Year Amount 2011 2018 2012 2019 2013 2020 2014 2021 2015 2022 2016 2023 2017 For the purposes of compliance with Minnesota Statutes, Section 475.54, subdivision 1, the City hereby combines the maturities of the Bonds with the maturities of the City's $5,550,000 Taxable General Obligation Improvement Bonds, Series 2005A, dated November 1, 2005. 1.04. Optional Redemption. The City may elect on February 1, 2017 and on any day thereafter to prepay the Bonds due on February 1, 2018. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 8 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. 1.05. Extraordinary Redemption. The Bonds are subject to extraordinary redemption on any day in whole, but not in part, at a redemption price equal to par, plus accrued interest to the redemption date, upon conveyance, lease or transfer in other mode of the Project (as defined in Section 4.01 hereof) to an entity that is not a qualified 501(c)(3) entity under the Internal Revenue Code of 1987, as amended, or a unit of state or local government, in connection with foreclosure of the Mortgage, Security Agreement, Fixture Financing Agreement and Assignment of Leases and Rents, dated as of June 1, 2006 (the "Mortgage ") from YMCA of Greater Saint Paul, a Minnesota nonprofit corporation, its successors and assigns (the "YMCA ") for the benefit of Patriot Bank Minnesota (the "Lender "). 1.06. Term Bonds. To be completed if Term Bonds are requested by the Purchaser. Section 2. Registration and Payment. 2.01. Registered Form. The Bonds will be issued only in fully registered form. The interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or draft issued by the Registrar described herein. 2.02. Dates., Interest Payment Dates. Each Bond will be dated as of the last interest payment date preceding the date of authentication to which interest on the Bonds has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment, in which case the Bonds will be dated as of the date of authentication, or (ii) the date of authentication is prior to the first interest payment 3