Agenda Packets - 1988/01/11 - Laserfiche WebLink

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approving legal opinion of Holmes do Graven, Chartered, of Minneapolis, Minnesota, be on the reverse side of each Bond and shall b as bond counsel, shall printed Administrator. Whe certified by the facsimile signature of the Clerk- n said Bondss authenticated by the Registrar In accordance shall have been duly executed and with this resolution, the same shall be delivered to the Purchaser upon payment of k inot ebetbound the ethe and he receipt of the the Purchaser shall athe Purchaser eofeshall bea full acquittance; and The Bonds shall not be valid for to see to the application of the purchase money. any purpose until authenticated by the Registrar. Clerk - 4.02. The Official Statement relating to hereby ondflile with the the tarnishing Y approved. oved; Administrator presented to this meeting, and confirmed, for the onds Is hereby to the Bonds and the sale thereotatitied to Ithereof nsofar as the sametive relatesdders 4.03. if such officers find the same to be accurate, the Mayor and the and directed to furnish to the Purchaser at the Clerk -Administrator are authorized closing a certificate that, to the best of the knowledge of such officers, the the date of closing, and did not, at the time of sale Official Statement does not, at of the Bonds, contain anyuntrueof 8. lfact or omit to made therein, instate any the light o a e to make material fact necessary . he statementsent they Misleading. Bonds, andwere lof the itigationishaR haresbeen commencedbe pending questioning the for of the bonds, or the organization of the issuer or revenues pledged payments incumbency of its officers, at the closing, the Mayor and the Clerk -Administrator the successful bidder a suitable certificate as to sh.-X execute and deliver to absence of material litigation, and a certificate as to payment for and delivery , Holmes 6c Graven, Chartered, the Bonds, with the signed approving legal opinion of of the Bonds. as to the validity and enforceability Section I. Bond Fond and Acco ^ts Aporoariations Pledge. 5.01. There is hereby created a special fund of the issuer designated increment Bonds, Series 1933A Fund" (the "Bond Taxable General Obligation Tax Fund") held and administered by the City Finance Director -Treasurer separate and Fund shall be me'.ntalned in the apart from all othee Funds of the issuer. The Bond manner• specified until all of the Bonds herein authorized, any refunding bonds obligation tax increment bonds issued to refund the Bonds, and any other general hereafter issued ;.id made payable from the Bond Fund, and the interest thereon, fromthe plge of have been by the Issuer increment tgfor any of the principal and interest of he Bonds paidid and the Issuer has been fully reimbursed In the Fund there tax from general ad valorem taxes levied on property in the Issuer. ntrespectively.,to be designated as the "Capital Account" and he "Debt Serviceshall be maintained two separate accounts, Capital Account. The proceeds from the sale of the Bonds, less the amount in the Debt Service Account, and less any of the proceeds of the Bonds deposited accrued Interest received thereon, shall be credited to the Capital Account, from enses of ing the cost itrict�incurIncluced allcheretofore osts and �let and all otherscostshe which there and to be any construct'ionecontactspaid IncurrSections 40t9.124 to 469 Sections134. 475.65, 469.1 , subdividsion"tandkMinnesota Statutes,,