Resolution 8951 - Laserfiche WebLink

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Mounds View Certificate. The City Finance Director is authorized, upon satisfaction of the conditions for the issuance of the Mounds View Certificate, to determine the tax levy necessary for the repayment of the Mounds View Certificate and file a certified copy of this resolution and a copy of the certificate of the Pricing Committee with the County Auditor of Ramsey County, Minnesota, together with a certificate specifying the amount of such levy and such other information as the County Auditor shall require, and to obtain the County Auditor's certificate that the Mounds View Certificate has been entered in the County Auditor's Bond Register, and the tax levy required by law has been made. 6. Mounds View understands and acknowledges that, as of the date the Certificates were sold, Mounds View's share of debt service on the Certificates pursuant to the Formula is 16.373%. Mounds View further understands and acknowledges that the precise contribution amounts for Mounds View under the Formula may change over time, and Mounds View may be obligated to pay an additional amount, or a reduced amount, of debt service on the Mounds View Certificate if the Formula changes accordingly. Any additional amount of debt service may be provided through the levy of ad valorem taxes, or through payments from Mounds View's general fund. Any changes in debt service payments under the Mounds View Certificate may be made administratively by the City Finance Director, without further resolution of this Council. The motion for the adoption of the foregoing resolution was duly seconded by Council Member Meehlhause and, after full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: Bergeron Gunn Hull Mueller Meehlhause and the following voted against the same: None Whereupon said resolution was declared duly passed and adopted. 3 5199641 JSB BL140-35