Agenda Packets - 1989/02/27 - Laserfiche WebLink

Home Browse Search

the City's Development District Number 3 established pursuant to Minnesota Statutes, Sections 469.124 to 469.134, and pursuant to an authorizing resolution 7 (the "Resolution') adopted by the City Council of the City on Febuary 27, 1989, and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Chapter 475 and Sections 469.174 to 469.179. The Bonds of this series are payable from the Taxable General Obligation Tax Increment Bonds, Series 1989A Fund of the City (the "Bond Fund') to which has been pledged certain tax increment generated from the City's 'fax Increment Financing District No. 3. All taxable property within the City is also subject to the levy of direct general ad valorem taxes required by law to be levied and extended if ,seeded for this purpose, without limitation as to rate oe amount. The issuance of this bond does not cause the indebtedness of the City to exceed any constitutional or statutory limitation thereon. As provided in the Resolution„ and subject to certain limitations set forth therein, thls Bond is transferable upon the books of the City leapt for that purpose at 'Lite principai office of the Registrar, py the registered owner herecf in person or by such owner's attorney duly authorized in writing, upon surrender of this Bond together with a written instrument of transfer setisfaetory to the Registrar, duly executed by tha registered owner or such owner's duly authorized attorney. Upon such transfer and the payment of any tax, fee or governmental charge required to be paid by the City or the Registrar with respect to such transfer, there will be issued in the name of the transferee a new Bond or Bonds of the same aggregate principal amount as the surrPridered Rend. The Bonds of this series are issuable only as fully registered bonds without coupons in denominations of $5,000 or any integral muitiple thereof not exceeding the principal amount maturing in any one year. As provided in the Resolution and subject to certain limitations therein set forth, the Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series of the same maturity but of a different authorized denomination, as requested by the registered owner or his duly authorized attorney, upon surrender thereof to the Registrar.. ft is hereby Certified and kecited that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed in order to make this Bond s valid and binding general obligation of the City according to its terms, have been done, do exist, have happened and have been performed in due form, time and manner as so required. This Bond shall not be valid or become obligatory :or any purpose until the Certificate of Authentication hereon shall have been manually signed by a person authorized to sign on behalf of the Registrar. IN WITNESS WHEREOF, The City of Mounds View, Minnesota has caused this Bond to be executed with the facsimile signatures of its Mayor and its City Clerk -Administrator, both as of the Nominal Date of Original Issue specified above.