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1994-089 Council Resolution
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1994-089 Council Resolution
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1/26/2016 4:28:13 PM
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1/26/2016 12:33:22 PM
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City Council
Council Document Type
Resolutions
Meeting Date
10/11/1994
Council Meeting Type
Regular
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[Face of the Bond] <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF LINO LAKES <br />GENERAL OBLIGATION TEMPORARY IMPROVEMENT <br />BOND, SERIES 1994A <br />Date of <br />Rate Maturity Original Issue CUSIP <br />No. <br />November 1, 1994 <br />The City of Lino Lakes, Minnesota, a duly organized and existing municipal <br />corporation in Anoka County, Minnesota (City) , acknowledges itself to be indebted <br />and for value received hereby promises to pay to <br />or registered assigns, the principal sum of $ on the maturity date <br />specified above, with interest thereon from the date hereof at the annual rate <br />specified above, payable May 1 and November 1 in each year, commencing November <br />1, 1995, to the person in whose name this Bond is registered at the close of business <br />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 <br />principal hereof are payable in lawful money of the United States of America by check <br />or draft by , Minnesota, as Bond <br />Registrar, Paying Agent, Transfer Agent and Authenticating Agent, or its <br />designated successor under the Resolution described herein. For the prompt and <br />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 <br />irrevocably pledged. <br />The City may elect on November 1, 1996, and on any day thereafter to prepay <br />Bonds due on November 1, 1997. Redemption may be in whole or in part and if in <br />part by lot as selected by the registrar. All prepayments shall be at a price of par <br />plus accrued interest . <br />The City Council has designated the issue of Bonds of which this Bond forms <br />a part as "qualified tax exempt obligations" within the meaning of Section 265 (b) (3) <br />of the Internal Revenue Code of 1986, as amended (the Code) relating to disallowance <br />of interest expense for financial institutions and within the $10 million limit allowed <br />by the Code for the calendar year of issue. <br />DJK76288 <br />LN140-31 <br />
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