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2002-061 Council Resolution
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2002-061 Council Resolution
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11/30/2015 4:28:12 PM
Creation date
11/30/2015 3:31:32 PM
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City Council
Council Document Type
Resolutions
Meeting Date
06/24/2002
Council Meeting Type
Regular
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No. R - <br />[Face of the Bond] <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF LINO LAKES <br />TAXABLE GENERAL OBLIGATION IMPROVEMENT BOND, SERIES 2002B <br />Date of <br />Rate Maturity Original Issue <br />July 1, 2002 <br />Registered Owner: Cede & Co. <br />CUSIP <br />The City of Lino Lakes, Minnesota, a duly organized and existing municipal corporation <br />in Anoka County, Minnesota (City), acknowledges itself to be indebted and for value received <br />hereby promises to pay to the Registered Owner specified above or registered assigns, the <br />principal sum of $ on the maturity date specified above, with interest thereon from <br />the date hereof at the annual rate specified above, payable February 1 and August 1 in each year, <br />commencing February 1, 2003, to the person in whose name this Bond is registered at the close <br />of business on the fifteenth day (whether or not a business day) of the immediately preceding <br />month. The interest hereon and, upon presentation and surrender hereof, the principal hereof are <br />payable in lawful money of the United States of America by check or draft by U.S. Bank <br />National Association, St. Paul, Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and <br />Authenticating Agent, or its designated successor under the Resolution described herein. For the <br />prompt and full payment of such principal and interest as the same respectively become due, the <br />full faith and credit and taxing powers of the City have been and are hereby irrevocably pledged. <br />The City may elect on February 1, 2007, and on any day thereafter to prepay Bonds due <br />on or after February 1, 2008. Redemption may be in whole or in part and if in part, at the option <br />of the City and in such manner as the City will determine. If less than all Bonds of a maturity are <br />called for redemption, the City will notify Depository Trust Company (DTC) of the particular <br />amount of such maturity to be prepaid. DTC will determine by lot the amount of each <br />participant's interest in such maturity to be redeemed and each participant will then select by lot <br />the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a <br />price of par plus accrued interest. <br />DJG-215891v1 <br />LN 140-78 <br />
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