1987-045 Council Resolution - Laserfiche WebLink

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• Dated: CITY OF LINO LAKES, MINNESOTA (facsimile) (facsimile) City Clerk - Treasurer Mayor CERTIFICATE OF AUTHENTICATION This is one of the Bonds delivered pursuant to the Resolution mentioned within. By Authorized Representative [Reverse of the Bond] This Bond is one of an issue in the aggregate principal amount of $1,650,000, all of like original issue date and tenor, except as to number, issued pursuant to a resolution adopted by the City Council on August 24, 1987 (the Resolution), for the purpose of providing money to defray the expenses incurred and to be incurred in making local improvements, pursuant to and in full conformity with the City's home rule charter, the Constitu- tion and laws of the State of Minnesota, including Minnesota Statutes, Chapter 429, and the principal hereof and interest hereon are payable primarily from special assessments - against property specially benefited thereby, as set forth in the Resolution to which reference is made for a full statement of rights and powers thereby conferred. The full faith and credit of the City is irrevocably pledged for payment of this Bond, and the City Council has obligated itself to issue and sell definitive or addition- al temporary bonds to redeem the Bonds and to levy taxes on all of the taxable property in the City in the event of any deficiency in special assessments pledged, which taxes may be levied without limitation as to rate or amount. The Bonds of this series are issued only as fully regis- tered Bonds in denominations of $5,000 or any integral multiple thereof. As provided in the Resolution and subject to certain limitations set forth therein, this Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by the registered owner hereof in person or by the owner's attorney duly authorized in writing upon surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or the owner's attorney, and may also be surrendered in exchange for Bonds of other authorized denominations. Upon such transfer or exchange the City will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest at the same rate and maturing on the same date, subject to reimbursement for any tax, fee or governmental charge required to be paid with respect to such transfer or exchange. The City and the Bond Registrar may deem and treat the person in whose name this Bond is registered as the absolute owner hereof, whether this