2004-163 Council Resolution - Laserfiche WebLink

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• • Sinking Fund Installment Date Principal Amount February 1, 2016 Term Bonds 2015 $ 95,000 2016 (maturity) 95,000 2018 Term Bonds 2017 $100,000 2018 (maturity) 105,000 2020 Term Bonds 2019 $110,000 2020 (maturity) 115,000 The specific Term Bonds to be redeemed will be selected by lot by the Registrar. All prepayments will be at a price of par plus accrued interest. This Bond is one of an issue in the aggregate principal amount of $1,330,000, all of like original date and tenor, except as to number, maturity date, redemption privilege and interest rate, issued pursuant to a resolution adopted by the City Council on October 25, 2004 (the Resolution), for the purpose of providing monies in part for various assessable public improvements, and in part for certain improvements to the City's utility system, and pursuant to and in full conformity with the home rule charter of the City and the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Chapters 429, 444 and 475. The principal hereof and interest hereon are payable in part from special assessments against property specially benefited by local improvements and in part from net revenues of the water utility system of the City, 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 are irrevocably pledged for payment of this Bond and the City Council has obligated itself to levy ad valorem taxes on all taxable property in the City in the event of any deficiency in special assessments or net revenues of the water utility system pledged, which taxes may be levied without limitation as to rate or amount. The Bonds of this series are issued only as fully registered Bonds in denominations of $5,000 or any integral multiple thereof of single maturities. 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 SJB- 254637v1 LN 140 -88