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1988-075 Council Resolution
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1988-075 Council Resolution
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Last modified
10/31/2014 2:23:31 PM
Creation date
10/31/2014 1:55:42 PM
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City Council
Council Document Type
Master List Resolution
Meeting Date
10/03/1988
Council Meeting Type
Regular
Resolution #
88-075
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• <br />• <br />• <br />CERTIFICATE OF AUTHENTICATION <br />This is one of the Bonds delivered pursuant to the Resolution mentioned <br />within. <br />By <br />Authorized Representative <br />[Reverse of the Bond] <br />This Bond is one of an issue in the aggregate principal amount of $610,000 <br />all of like original issue date and tenor, except as to number, issued pursuant <br />to a resolution adopted by the City Council on October 3, 1988 (the Resolution), <br />for the purpose of providing money to defray the expenses incurred and to be <br />incurred in making local improvements, pursuant to and in full conformity with <br />the Constitution'and laws of the State of Minnesota, including Minnesota Stat- <br />utes, Chapter 475, and the City's home rule charter, and the principal hereof <br />and interest hereon are payable primarily from special assessments against <br />property specially benefited thereby, as set forth in the Resolution to which <br />reference is made for a full statement of rights and powers thereby conferred. <br />The full faith and credit of the City are irrevocably pledged for payment of <br />this Bond and the City Council has obligated itself to issue and sell definitive <br />or additional temporary bonds to redeem the Bonds and to levy taxes on all of <br />the taxable property in the City in the event of any deficiency in special <br />assessments pledged, which taxes may be levied without limitation as to rate or <br />amount. The Bonds of this series are issued only as fully registered Bonds in <br />denominations of $5,000 or any integral multiple thereof. <br />As provided in the Resolution and subject to certain limitations set forth <br />therein, this Bond is transferable upon the books of the City at the principal <br />office of the Bond Registrar, by the registered owner hereof in person or by the <br />owner's attorney duly authorized in writing upon surrender hereof together with <br />a written instrument of transfer satisfactory to the Bond Registrar, duly <br />executed by the registered owner or the owner's attorney; and may also be <br />surrendered in exchange for Bonds of other authorized denominations. Upon such <br />transfer or exchange the City will cause a new Bond or Bonds to be issued in the <br />name of the transferee or registered owner, of the same aggregate principal <br />amount, bearing interest at the same rate and maturing on the same date, subject <br />to reimbursement for any tax, fee or governmental charge required to be paid <br />with respect to such transfer or exchange. <br />The City and the Bond Registrar may deem and treat the person in whose name <br />this Bond is registered as the absolute owner hereof, whether this Bond is <br />overdue or not, for the purpose of receiving payment and for all other purposes, <br />and neither the City nor the Bond Registrar shall be affected by any notice to <br />the contrary. <br />IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts, <br />conditions and things required by the Constitution and laws of the State of <br />Minnesota and the City's home rule charter, to be done, to exist, to happen and <br />
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