HomeMy WebLinkAboutResolution 0928r, rl Cj a t t I
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r & pr e f;v n t Ma r r P i c a r iii c I I I ii it-, 1,, 1 1.1clun-1,0�jI t ;j r 11 j3
mIA Z i v-11-jr t h
Membel 6 ab-kt-IIL .- Co U I i t � j I ulf'rh I if-, I R(lwl (Ty
Doc,imenL% ottached
Minutua of gii'd
I
RESOLUTiW1 W�LATJNG TO $1 440,U00 1MPR0VFMrNT
FIXING T11F FORM AND
UTAILS, PPMVIV, p(;H pf,
F, Fxp.(,!j,pjf-)N, jr.,n
UELIVVRY THEREOF AILIV The BECL)R!TY THEREPOP.
unHrrriqnri, l-.Yrqrj--j the JulY 4ualiiied iind
actiny recording officer of the public lc,�rporatian issuing
the OblillbtiOnz rclUfred to in the title of thisl
cartiticato# cortify that the documents attached hereto, an
described above, havo hoon carefully colapared with th@
r--CGr-A-' af LWOW corporation 'in my Ipgal Custody,
from which theY have been Lran&i,.;rUteJj that said documents
afe a correct rnri completc transc.ipt of the minutes of a
se*-ti-nq- of- tht qoy*rfj,.jnq body ;wf maid ce-rporation, and,
corroot and como)OtO 0001�t Of all resolutiona and other
ActlPfle. te�ah.and aZ all doetimqnts approvitd by the gtivarn4ag
-b4y at, said mG!p;jn4# .0 Lai a.% thtoy re -tate to ffif-14
oblilattinel and that sadd MeLting lo,�A duly held py t,,10
-9-01"YrAng. body at I the ti -It Nhd r' Nt-0 And wa-ro attenaed-
tbraugbout bY tho members �ndjcatqd
and notice at such MlIetinq rvven fitt roquired by law.
WITNIHISs my hand or-ricialtY a -S SU01 recor4inig
Officer Lhir. 11th d'*ay--- of __Sep .6m or ,
5 T -g Va t 'ur a
Mark Achen, CitIl Clerk -Administrator
(SEAL) Name ond Titlu
1 K A 1 Odilz oi III-
ri !-0 it t in it n- fw-,vl It �2 --i-tat I I; I-
4 1 U, 01 f I Q
IMPHOVEMENT BONDS, SFA411fz- 1976; 1-11YINII
THE POPM AND D&AILL., PPOVIDING
MR T11E EXECHTION AND WJ,1%J-PY
1HrRr'J1' AND '111f. 3!�(.IJVITY TUH.-J-up.
iriE IT kFO'---')1,VV.D by the City (ctutiLil jf the City of
.14
Mounds View, t1'nnL-suta, as
Ruc 11.01 L�,
I.W. Authorization. Thin Council har hurptotore
— F im� ki 1111plovellie-IJU) 0) LIV
ordered LWO TT)Cai -it ovemunt ( Lhe
constructed within the (lity unde;- and purawant to MinneaotA
Otatut@K, Chaptor 429.
Thp preiierit vIit Jmjq�_Id 1_�itaj cirI!�t tiju
Improvaments lat
Constructiont
Improvement Project No. 1977-21 ; 44,576
Imprjvement Project No. 1978-31 821,828
Topf-av#mwat. PrMt-et Nh. 1978�4- 88,808
MY-, 2 -0-6 $955,208
Isand i
En�l inner iny i
contingencyl 44,836
CA talited itterostt 120*541
Bo%�s Repr?5entlng Infireat
Pursualit to Minneuota
-Statutel,,i, Section 475.5fit
TOTALt
1.02. -`Ia I c Pursuant to a resolution Adopted -on
Auqudt 14, thin Council determined to iauue and sell
$1#410,000 ,jrinclrAl ainaunt of ImprovemiInt Bonds, Oeriee
1078 of the City (th* bonds) to defray the expense incurred
and_estimqted cc be incurred by the City in making the
improvIrmenta, including every tem of ;Qst ot the kindra'
outhotizvid in Minnesota Btatutest, Section 475.65. Pursuant
-to. the aforergaid resolution., a public rwase of tho botAs wag
hold on japtembet 11, 1978 and this Council, by resolution
adopted an that date, accepted the hiL4 of P-1EQUEAVE-1
of Minne4p,01JUI, Minnnoota, to purchase t e
h Honds an H-10—
tprmE and conditio�7ZFC'fnrLh in the Torms and Conditions
for RecuipL of bids and Award of Sale'. All actn, conditions
2-
RuSuluLion no.
and thinum which Me lvquilvd Iq t1W Lop"LlIUL100 and !W�
Of the stalp -f Mkhvbuth Lu lw dOlw, 1" uxil L , L" WWI
and LO bu PurfUMUCI Plibr !& thp '5000MCP OF thu H66M
having been don-, uxibLinq, an! hoeing happrrpd, it in now
necepsory for thin Cuuncil 10 t�tnhllvh " fnrm on" ipim.
of the Banda, tj provide for the p"eurity thereof, and to
jSSUO tho 4ondn forthwith.
1.03. Mat"KLM. Thi4 Ccuncil finib ond dOL01W05
that the mattrklmb K the WOO ag wit forth in Section
3.01 yerenf, are warrented by thy Wivipa&d collecticrt or
tho asaeHumentt lovied Ql the cost of the IMPTuvemefItI.
Soction 2. Form of UQnas bu6 Couponc,
2,01, Form of Bondo. The BendN PhAll he prepared in
avbutantinIly—JOILITZ-Finy form-
Mv- .
�A
-j-
Wil'i ( )I A 1.
1 4 I -A I
c- o U, V Lj I ' 1,, A;4�, L
t j ,, I j! � V I I Iv.
IMPI-OVEMENT KIND
51-NII'S J�/b
No,
61110ou
-4-
ENOW AbL MEN BY THESE PRESENTS that Lilt CitY Of
Moundc View, Ramsey Lounty, Minne-mota (thu City), viv�;nowl-
odgar- itcalf to ho- indohted, itril f -)r vnInf, rec—lived ht-reby
promiAen to pAy to hearor, uport prarentation and surrender
holpt-it, tha principal now tit
FIVE THOUnhND VOLLhRS
or, if thi,- Bond it prepayablu ah
stated below, oii any date prior thereto an whicb it shall
have been duly callud for redemption, and tn Pat, interent
thereon from the date hereof until said prir:eipal sum is
paid, or, it this Bond is prepayablip, untillit has been duly
callod for redemption and the prinvipal thereof and,the
rz T
interedt tbargon ta tb& datb or redimption tiave been paid- or
deposited with the paying agunt, designated below, at the
rato of hundrv(.thx percent
per awflumi Interost hereon is poyablo som�onnwolly on
February I And Aupust I in each year, commencing Flebruory 1,
1979, in ar.cordance with and upon prt-R—it.atian and surr-en4er
�of the interoat ecupons hertto hppurten#jit. Both princip-il
and iattr(-st are payable aL
# in
in any 'm oreLk'frLincy Of tile United*StAteo
-it
of hm*riia which on the respective at.tes of payment )*Sul
tender for public and private debts. For the prompt and
Cull payment of a A rincipiA
u 0- P- and �nterest as the roame
become due#, the full faith, credit and taxing powers of the
C-tty are heroby irrevocably pl6dged.
This hutid Is one of".n inbue Ii, the mogroyate prin
cipal ameont or $1,410,000 (t hordr), all of like date And
1 j7
tenor except as to*rserial number, interest rate, redemption
privilege and maturity date, insued to pay the coot of con -
utruction of local improvemi-ntu In the city Ithe improve-
mentr.) , and 1. i-..%uetl pursuant to and in full conformity
With the provisione of the Conotitution and laws of the
Statp nf Wnnoxntn therruntn rinablinn, includ'ing Minnoanth
Statutes, Chapters 429 and 415, This nond in payablip
-4-
I l.i. r 1 1 it! 0 i 0 r r f Y
f f
t h f f (If .
1 -4 1, 19 U I t I r t�
Pill 7 a Lj I V I P',c t I VI; t G -L; ji:-i t k . I r 1 t y ri --i f c- v., I t tic �l t
option (if prior paylt--i.vitt, but liondu hn-Vilikj 'flat ut I tY
des tr-8 in thQ yu. &rri 19-k94 and 19 90 U V e_�c' I; Bu b i Vc f tu
T�-dernptiori ond pref`,37r-�-nt nt tho option of tho City, irl
jn�ierge firlor Of SO(jill Ii.nd
dny tnLPIVr-k p"�rjejj dat.-i thereafter, nt n pr icu equel to
the vrin(:i�jai amounk itieft-or and int_��Tulft to th'e
daLe of r@aomptkon plua a prumium oQual to one -'half of one
po(crnt of their pFinripil afrount. At 10011t thift-V dflYi-
prior to the dato not fuith rc., rederr(ption of a:ry Bond prior
Lu- Itm jjt�dtl@."I maturity datc, notit-v of Lilt- 4 fill f0i
fedemption will hr- publiFti-I in a 1A11Y 0' wankl� ' -- pe r i od I ca 1
putlishv*_d in a Minner-ot-B city of th* first clans-, or -.t6
metropolitan area, which circulatea throughout.the Ftate and
furnipher. fir.-Acial ncw?-j at; a part of itf, ro�rvjce, ano
mailed to the ban�, qt whicil tht. kon(Is are then payablei and
to the holder thereof, If knawn, but no defect in or failuto
to give such mailud notice of relemptiun bhall btfocL the
valiflity of procaudings for the redemption of any Bond.
.Holders of pTapayabl@ Bondt; who dvaire tn rc.-ulvel such
notic7a mialy re�jtgtpr thpir naman and addressee and the serial
no,floers of their Unndn wiLil L11.L M-puridt-4 View Cit -Y
Clark-AUMInirtrotot..
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND
that All ActIff, condition!ll and things reewirO by the
Constitution av! laws of the State of Minnesota to he don4i
t6 04A th-
exist, to hauii6n hhd to be perforlmW P-PeC040ftt
t 1". istsuanv# of .; this 131bild in OlAer t1U make it a- V�-lid -old-
bindir genaral Ohl- iqAtion )f the City &C:Co,dinq tQ its
tat - Ms. Lvit liven donej 4o as hap_*nqd�and haile beeli
)�rtj bav _. P* . 'h, - J
porformtd as so roquirvel that Prior to -the )'Fauance ct'Wf
the City ,jhjj Agra4d to '..vy opucial a�' panm
an enta P1.1 pro"Tty-
so6din I ly behetitod by thp Imprnvrments, collectible in th*
y#4r* and amounts requitela to prodijus sum., not less thun 51
tn *scads of the principal Of And interest an the 110,08 an
such princiral rintl intarest reapectively become due, anti has
t ame tj tho Fu*a- in the mannrr specified In
approp -he L
Minnesota Statptes, Section 29-091, AiihOW"inh 0 that, to
tO�.oare of any accumulated or anticipated deficiency In
the rund, ad vallurern taxes are required by law to -be 1(?vied*
upon all tax0ble ijto�,fkrty Ili Llie City without lip-itation lit,
to rate or amount; and that the Iptivattee of Lhis Oond did
not couclo the in-10)tedfirsu or tho City to W(vved il"Y
conutitutional or Utatutoty lilaiLatioti.
� Al -
Remolution No.420
11 1 1 1 1w U i I I Mm, Ild , V j (T
Pilffil;ov IL_htifit k, t I u I n i v b Ft C i
f -nuc r LXCr-ULL.Lj 13t, Ilp f
thi b o n J L u b e r- a f� I q n s -
f t ht- 14 o yo r m F0 i h- intirwal i �_i ti a I u r r o Y
C I em r k - Ad M I n j , t r n t i , h rid I ri
UJIL, icial E-eal of tile cit", han cwjEed
Appurtonant httvto antl the cvr tificate- appatiring on tho
FeV01760 bidb hQUQQf tCj tit! U-Xt!CtAtFd Wit, outhtntico ter' by the
faC&-timile -,�qnr-fitrofi -)f mnitl tiff 1,-vrr, ind hfir� caunpd thin
Dond LU rib ciateLl �n ot TIUAUI'�v 1, 19�8'
ATTESTi
_P� Aj M 11 a Sir, —at toLfu
My CTerT A in —is t r Wt, I Ma --or
(FACSIMILE SEAT";
2.62i rorm of coupont;. inte'reit oil "mch Borict ito
.'.,aturity chall 1'10 topinsvntnd by a cansecuti%,ely numbercd
not of intwrubt couponz printed in substantially the
f011owing formt
On rebruary (riuciust) It 19 unless the flond tu
WtAch- this coupon appert , a Aint-4 sh"I rrie-vi-oual-
y have been
called for redemption hnd provision for thv ptlyment thereof
shaill have been inadat the City of Hounds View, fRamsey
C-0U.Vt:i,- f4iftinesotwo will pay -to bearer -at
in hA sum
Us --of
4ho -604 irrowwr 'r 0M. i U
U_ mm a
w -h at the timi of- ps
hic . ylmer.t, to leg -31 -telidor t4r
vate debta# for in-tereat then du#
paymolitt of public and pri
improvefniint bond, Serleg.lV78, MiU6 AuVu'#t 1, 1t;7A.,
re)
City Clerk -Administrator
Mayor
2.03. Foral of Certificate. A certificate in Gubstan-
--ti-ally--ttie f=01ow'1Tj_?`oTM__aT7&T be prInud on tha- tvvvr-eq
n We of each bona, follOWinn a Cotly or tho text or th* 1Pc^1
opinion to be rendered by b6nd Coiinmplt
we certify Lhat the above Is a full # true and cor�
roct copy of the legal opinjoll render6d by Pond counsel on
the issue of Bonds of the City of Moundg View, Minnesoto
which includes the- within Bond, dated as of the date )f
delivery of and r)aym#nt ror the niontiti.
(Facsimile Signature)
City Clerk-Adminintrritnr
(--nesimile Siqnature)
Mayor
-7-
-Irlij e I Ill i lit, i- -
Ill fl,f t hk4i th i r�r�ov
' � t i 1 1
j Ij i rii r
1)t- nv-
provir-milInt
f) i tr ;'
i I. , �.v I It 4 0
. .2'
11L hLnd fUlii '-'I
t h v 1. 97 H I im 1) r ( IV U ITI _- i . - "
v t 1 9 7 b
h u r eo f lionds f -hal I 6v datvd 11!� o
v 7.B2 in rlklfp�,ur A rid n L; -r. I v ii l'. S_ Q r a I y fivi
i Nc. up lvp - - t I (-, n !If %', , 0"'i V-1111 I I lVin t or I.
, I (I �, n 0 n 1. r;,l
f L It
- amnunt_- nt-L C) r
fier ial ly oil r6rIt I in Olt- YT -01
I
be low, ane, t 1-1 e- Isond v� L, f oile' I tA f, h U 0 r I t " �j I I I" 11 " e �l !
I - , 1 a t v P v I a I I I i t i'm
interest from date Ot i -F -E It,': "'t I ht . .
shown vppOfti tc- tllc' YPAr of sucj-�. riiat�ir i ty W, f 0 11 Old --
Year Amovnt. Pate Yc�ar
W51000 4 . 9 DT 1 'ill 6 11F)SO'Dou
1981 1
19 vl 7 1401600
1062 16 0 0 0 5100 k 4 0 0 0 0 5 20YA
1963 1 NO 00() 5.004 114 il 6
I'v 8 9 000
1984 �Io' 000 5, 00� .140,
19b5 156,000 Go , 000
3,02 Intorent. Intorcnt an tho Bon,ls bhoil boe
; v �'j'Fy - 1 , 1979, and poitliannually thereafter on
u
-ch Y04r-
tebruary I And August I Of up
paytoq Agent. ThO purchaser of the randg has
In
designited
as p,ytng agent. 11nat ricommeno
;p I QV*3 The Mayor and City Clerk -Administrator
ter into a Paying
Art her*bV :Puihoti;ed and directed to en--
vontra':t with
.
Lhv_"T7w'TrTT _hy t'i�W
t t which
0
pursuan t fur the receipt iov.1 dijKbVtfi*-
rf flillid payrilliq iijen 'pal
principol and interesir m0neys- The ptinc# of Arill
Interest on. thp ArInds nhall bt payAbIr at the -PrinCIPAl rar
designat-A h.17rain,
norsta trust office at the paying atdilt;
In th6 cy-rit-rif its resignst ton,
In 01' 1
m3—T-6—rinZ-4W[ ty af 1c!,inq mr; payinc! Aqent, at the
re va
off -jet of such BUccegoat paying aytinL ail M31 t.)C- apprnved by
tonsolid6tion of the paying
this Council. Upon merger or
ag-ent'- with another/ corporavinn, tf the. rouulting corporation
J8- a bank or trust company authorimfil by law to cOnAuct such
businesal such corporation shall be oothoril/eld to act as
agent
Wmrorttr pr;iyinij .'Junt. No resignation of the r -flying
J a4ptit ifl�zjll become
tla-nt of petyinci
And no appoin 0 - or weekly
the date lapecified in a daill
effective until
periodica) publiabed in a MinneftoLfl' City of the firat clants,
or its metropolitan area which cirviiiliit�vn t1iroughout the
1. iLa
state and furnishap tinanifal
newu Ar a part of service,
-7-
. I , , L, =l g
t I
t i V - ! " - - 1
.4 1 F I till I 'I
I t_q; f-ij!pr 101'. 1 1
Ir C, t h t t
It 1 90-b �c
i tyl r I Ll f r
m A t u r
'cL Y'Ti p
t: ha I I C I i j. t 1,j u IL C, 1 1 1 1,j
OPLIOn of t h e C 1 r t t
d ary intpf
...L t 1142 1 f
191" or an c u c d
a pri-rclegual L 0 Ptinci-I""I t: t h i -i t -, ilAyF
w t i on At
interest t(j- re"L. - -
I
1 517jor to ClIP (IOLL for rptl ttiption of any Bond F
17 ( 4 ty cierk-AdUrdnittratur "III, I I
its stated Matur kt" J"t-of the _1 . - .
for telemption thareof to k:iji:)�
caUse notirP Of the C81 1 1 . I
1. , .. - v r
lished in a dall" 01
Minn@aota city of the litbL clijc;s, or itr, n--,etTup0llt,;'n
J f inan-
_Lato and furlAf-hQ-! . .
ilej tc) th(? I)anV.
wh ich rvicus, and Ma
Cial new, -
4 j. j, p A r t 0 f J t r fj e
at rrinrlrnl 6f and Interebi. 011 tile Donzir vie thVn
payable and to tho hultIGF ti -Mr -11, it knowil Lo Lljo City
defect in or fullUtL. Lo Uive
Clerk-Administratar, but no /IfPct the V-"'J'ty
GUU11 Illailc pdwmptinn nhall d
6 noticL rj ptiol-I of jinv Bond. The City
of proceedings Lor the r ed e!ftl v authorif@d and directed to
clerk -Administrator 19 herebl _ - - I
maintain a ralibitef (If tire nam"s; find addrenner Or tl-r-I
Anglire to regir.L@l' thc
holdira Ur P.nnA- WhA
r- -1 - - - - - -_ _ . - -
serial numi5efO Of thc-ir Bollog %oith hint for the purposti of
receiving such Mdiled flOti`30,
3,05, Pre aration and U"I'vqr Th& Ronda shall bt
I I _y. erk-M."inistrator
K-7RT;-YI� - of fl -4 city
c -1
all of th*a city -by tht SWA-
aflit Will bl- nxecutad tin
iturra of t;M MaY9e An'! C ity Cli-rk-ridmin'-ptrotor, and
08111 be sealed with #.he officil'. corpirate real of the
the cot orate
tovldgd thot-one 01- said
t3a r :hayraphed Iffteximi an
minted, 9114 avtd, 1,1
hereof. On the
t reverse aide of epuh Aond sliall be printed
op'nion tendered ti�.creon ly Boni] Counsel
a copy )f the loci
and th e cortl / fichte of thp Mayor And City CIQF�-
al opinjop arid interest COU
an to 10#4
'rho crrtif 0
Votra-attachod to the Bond;, shall be executed and juthenti-
hoqr aiked facuimile
cated. Jjy Lite. PI W�V,d' Or tit -Adminigtrntor. Wile- it
re.6 or thr �y r, r fl.
pignato Mayut oil,! they
the bonds have been so &x6cuted arid authenticated, to ch4
shall ba delivered by 010 City Clerk-Adminial,:ratof in
an price
nL of th@ pul chn
thOrcOf upon paYMV
pvtchaver t gale horatarare mado ind
accordance with tilt- contrac -30 tO 900 to
executeo, iind ti-riO jjurc-hai3er ribrill.not bo obli .4
the application of tile purchiloo Price.
*tAnnet4ort-Irwo"t, Hirill"I'Vol'"' i"i'll""Ota
_H_
t
i. 1 1, il o
I in P I ov TV" li t ( k' it k i kic t 1 On i tj ri(i ho I tz I I ' 'j I i V f I V i i f I r f�ij t 0 a P
t he ( o n t.. r ij,, t i 6 ri [-it I id ) , 1 0 1— aii] --idminir-.tvrVd by I t-.0
City Clrrk-Adminit�triituir f-. 0 11 T, ii ri:i a pn r t 1 r c..rr-. it I I c-, t h v r
f und a (if tjj(T C- i ( y It'l C i ty i t,
ve.
t i on Ptj i -in ( a ) t fit, p r ocv_,_7d:-, or thfi c a*le of 111, - , i - - -
(b) all collcotloral of 5pocial Jov itAl t�"r tile
1mprovF-mPr,t5 11--a4V4*1.un1L of oil of
the litiprcvetnentm, ri'liv Congtriji-tion Fund shn.11 1�-& usod
n o 1 #7 1 V t t) (I �� f f AY (_�Yj I r, 1 k j,j I ric
_j p I I J, f t 11i. Jjtjjjr(jVt,ffj[,tjt 1 but
not limit -cid to t he- tranotur to llic 1970 Improvoment bno'd
U,
Fund, cfv'stv] pu;.-uant tu bccL'"on 4. 12 hereof, of tirio,jtitr
sufficient for tho payn-it-rit of Jfitol��r-,L and pr iricipl.1, if
any, duL upori Lho U�;iri.UIL prior Lo thc-- ou-iriplution and- paymerit
Of all Cot,Lb ut the linpluvemunt.L. t1puli complut ion iiind pay-
meriL of all co6i.8 of tllt± tj�ny j;"lf4ljce of the
proceeds of Bondn romwininq . in the Con-itriwt- - 1 on �'tin(l mny be
used to pay tho cost, in whole ]Dr in par�t, of ahy� Other
improyomentp, inot.it-Uted purn ' uni-it to Minnc-rot-n fli-tittites,
Chaptet 419, ou direc�tvd by the City Coullcill but any
b0lhhOe of such prortiodo not An used MiRll hp rredlt;/d anri
pald- to tile 1970 Improvement Brinj rL11-1d.
4.02. 197h ImproveLijnt Pond Fund. So long ja any of
tile o/unds 1�3-3—ny -P—rUllinipaj of or irittrest
thormor, unpaid, tho City Clerh-Adminietratur -.hall maintain
a separate And special 1976 Imptovent-ent DoO F-,jn-.1 (harein-
aftee referred to 4# tile- Bond Fund) to ue used for nj pur-
P936 Dth#-'- th*fl the PhYmont )r V14 PrInetpal of and Intor-est
on tho bouds and rjri �iuuh otfiei= Improvemont bindn of tbe city
an have been f.)r pay be directel to be pal,3 therefrem. The
V; City.itrevocabl,,- ippropriates to tile itiond Fund 10 th@
c011ectiOtill Of 8WItil flEfiessmer-to and other finds to be
crodliite4 dnd P41111 Lhereto In ticcordance W�th the provisions
(b) any taxot levied In acoortl;lince with
Wu rosolution, mod jc) all much other moneys an Rhall be
recolved and appropriated to the Dond Fund from time tn
time. It the balince in the Dond Fund Jrt IT it- ally time
Ltiguff:tlent to pay all int�rczl: and principal thon due on
411 bondi; payable thernfrum, 1.1-10 Papit"JiL rhall be made �rom
any tund of thirt City which ift available for Uat purpone,
GubJect to reimhurportiont front thp lioncl rund whtn the balance
therein (a oulffirtvnt, i -int, '-'-Yj;'
that it will vach year IVVY Sutticl0lt altiOuilL to Like care -
of allu ACCUMtllR-tj-:d of- tolt lei patv6l duf ikalvney, which levy iij
not nubject to any voo.ltitution.il or rtatutory tax limiLa-
tion.
-9-
f i
I f i i i r f-, I f i I i :i i
It t 1 t f I r f r
14 V ljy r I I t i 11,; 10 1 t 01111 ild V a 1 or val 1, 'Ixvii
a �_i _pec i a I n E_ F_ n t w i i i I t a v t h r- r w J: u t t, v r iro n V y V; v r
rf-vi—ilt— 1,1 va �j (,(I r t hl� of f;11 I(i add i I j (-,I I il I OW I
9'a L 1 C) n S W I i I pr u_ 1 1, r uve iiii:1 i. c u - t i ., u V1. 1 1, un t I t I
x C t hi- allio'jilt 1.'�I" W"Icl) I,.- i I-),- tic, Pa
- - I - . I Th
If-, r I-, t U� I , ti I n 1-1 fu 4 1; 1 P' f I L"11' t h V 110 J-40 .�-' 0 111 V
--a t on -I ad v�-, lot cm t a x e -a nper i al obtietirments and Ftvne-B
or r�,'/vniif--s so 1) 10-61 ri 0, d , I vv i r -O 11 r AqrtInd to be, I fv I od nil A I I
he irrevoc�,hly appropr i a t ud t o t ho Bond 1 -kind In the 111antior
pr ov ided by mi wiebut 11 �L; t a
a - i fy - r eby
4 , fl) 44 tif Optivi I! c nttT . I hL
_LLL�_ - rz TI.f
covcnantt; and tijr�mer. that 0.' n r paymont of thn. cort. of tile
Improve-mv,itr- i I W I . I 1 0") "tift pvi i orm a I ) actFi iinrl thingni
riecebti,iry for tj,e rull ,I,.! ItV j 7 L.' (it 114,-V"iLl " 1. L: C 1'. G
menta against all aLanuaable luL"., Uat:L�o ind payee -I., uL
laricl tioneritod the:vby and within Lho area proposod
L �o 1, i�t a ti av _- �! ed L I, i� r t� f v i , h ;A 4 o J i0l',011 L 11 e b e n e f I ts r eceived by
each euch I Ot , tract or parcP1 i in an aggirpqAto prinir-Apal
amount not lenn than which in not ler;s than 20%
of the cost of the Ixprovppionth, In tho avant that any much
asbc-ritiment ii h a.11 I be iit any tim,@ h@10 invalid with rerjp@ct to
any I nt , p -c-�7 or pnrcul of land, due to any �rror, defect
or IrrveulariLy in oily action or proceeding taken di to be
taken by tt,o Clt� or this Council or ony of the City'r-off; ' -
cers or cipployet-m, either in th--making of su,has-sesament
or in the/performanco of Any conditthn Precedent tborotof -
the City anti thic Council b, -re by covenant and igroo triaL
the will forthwith 110 411 ni-oh 1LrL),@r acts and take all
RUN further, PreIttedIngt of& mh� be rOqjtrVA by law tb ma:R 0
Pucti #a * n a m a m v n t 4 a v a I I o a v J - 'I- i nd L' n J* I 4L v n upo ni n uch g r opu r -
ty, .9aid asseamworitz shall be Pa 4.n not Mr re an
n ,
4 Tablo
10 enual. consuctitive, a no I ristallirents, the ifirmi ut
to r�c- co.11ectible with toxclu durin5- the
YIPAr 14172� Or-,fprred inst-Allmprits shall bcar itiLeresit at t1io
rate percent per ann,.jm from the date of tho r000lu-
tton I@vy1nq Said mnfleemm-rit until Pe-"mher 31 of the ynar
ill which LhV i"BLOIlItIvill iL' P01,4110.
I , -�ull �'aith rind Credit Nc-dged. J%e full faith
4 u*;, I
Ond C r Pl I t of tho c I t Y a r tid;jed f or the
prompt and fu 11 payment -or thf, rr I ricipal of and Intereat an
tho Rondn, nnil tho hr�ndrt rihni 1 he paya!)IP from he Itond Fund
in accoidatwo with the 1�rvvininnn �nd roveriants unritninvil in
this t emol tit Intl. it in efttimated that the spovial acaursa-
fft e h t a lovied and to br, Ivvira ror thv p-r4ymunt of tile
-1 U_
I t
f L hi t j'l i 1 1
lid
r i i I I il it 1 1 :1 r r 11 k I I I
r j I t Ii i I jr! i n t v r u t J l u 11 .'l 1 Y
r. u 17 h rtmo u n t r mpy bf, pit I (" f r (un a nY t 10-1 t it t0l (it thp C i t y n il
F� In'll U) t it Ex r ( uno !-Aln " 1 he r '- i MI"'IT -vil t hlt�r t. For Wherl i
,� tj I c i on IV
trioll: Y I r. rIVr4 �1111 tz if) t1lo, lifflid I t1lid 11 ("It ohv' I ill oliv
year Lit(- t-ilm of t he b& I iA Fj C' L I 1 -1 8! [-1 d F LI nd P I E n I I I] t
o f S) Ir L V, h I f I I r-, t- f f -1 r tile I In ul t u V v -
n; f- It t 'f � _.t4nd I f- t lit eflu Of t h I-, r 0 1 1 o w j F, q C r n -
dhr year is not SO f i ca i c 11 t 1- ( f in y Whr-n (filt- n! I lir i rn: i pa I and
inLcrest to ,3111 tjj� :11 1 j;tj,,,,,jjijf- t J-1 r f . I r orr;
th r oug h the necovd Vyb r lia i v f 11 ow I nq t -a 1 t; L)c Lobo r I , oi-
t tiL, --,- ill t h, pf
!-, 1, -i,�: i t—lir r(O f '�7 i t'!) r I I �
V 16 ed in Lh i .1, SL: c t i -, 11 4 . U 5 Ti d i r v i;: t , i I t 1 1: - i I I � 11 , I C, , it,
,tI, it 10 f C-irf, t a -, F_ I I I hc� I cv i Qd un a 11 ta--till I u Pt Cype 1- ty wi th i n
P - - -
tho corporate I to j LA; of the Ci '�y f or OIL tlill PW.12! Of tetitol
ing such tx-vu-ul.iLud tit ittiL'i(Ap I &-ficifuncy ill accordalloo
j4 L QC
with tho iornvi0invo of I h I Fl rpsol tit i (in
section 5. a
'nnnce, wn@tj al I of the W,-)nds and
all couppno lippvrtaining thereLcj hj,vv Ocon discharged as pro
vided in this fi@ction, all pledgon, covenanLu and other
riqht.n granted by LIJ6 rc:L:olution to tile holoorr, of the
t%onds shall lrv�iae� The City may diguharlue its oblivations
with respoct to any Bonds and coupons appertainino thereto
Whicri are due an any date by depositing with the paying
Pnnnt on or ijbfmrP tf.at elfito a sum sufficiont for the pay-
li;nt thereof in fulli or, it hny 130nd or voupon shf)uld not
beji.td wher dui, it may ne.varthalvisr. b-2 discharged by de -
Po ting with the pay1nq_ 640AL 4 40m sufficient for the paym
Munt Lherfof n run with intere-l-t ric,�ruA to the drito of
nuch u_&Po5it. Tire City may also discharge t, -a obligatione
W)tIr rv*p(-rt to ikny ororlayAblv. Bonds which "TU call4d for
rademptifin on aay datv aqCPHinj to thf�ir terms-il by de-
positing oith the paying al�jor.t on or before V�lWi dite an
lamourt jqual to the nrincipal, lnt(!ront and Irdemption
p am
f ium, it any, ��iah ary tf.en it've thereon, Provided that
notic-a of ouch redomptinh hau been dul," . qive.t as provided
herein. The City -may al!,!o tit any time dis--harge itr, obliga-
tiont with rvr� PCt to Any ht�nda, subivet to the provisions
of law now or cereafLor 'outhorizIng aw, i-gulating such
action, by deponiting irrevocably in e-.crowlt with a bank
qualified by law av an osrrow at - 1viA for thir purpose, Cab -h
or becuritien which ato qrnvral obligatiolin or the United
j;taton or socuritinn at United Intaten ationclon which tAre
o
authorized by low to be tio dFlionited, hearinq intti-t�A.-. pay-
able at out -n tim- and )( much raten nnt! maturinq 01) Such
daLun hu Phall ho ioquirod, without roinvivnt-munt to pay all
1, 1, T
I T j. t i
.M.. � - . f �' 1 ; - .1; � I'; . . :i ', i:
1% C' -miWi
PF_.j I v t r ,I t I rin i it c v r k 11 - 1 1 1 f= r I, t' o r 1 1.
C I U fl. �j t It U I i' I A �1 I i I u f i cr�r t j f i od C 47111
tht s ronol ut ion t,, tf t rh P hondito, Of pflwt.'�y 0 -in t
t ocivtnpr w I th _ uc I i othur t t I r� W !.ia L 1 On rJ5 I,- 001 1 It -�- (10 1 01
it P (i t (.) (ij* t a 1 n f f c� C nu r, t --,� Aud I t t3 r a f i C a t
the Bonds havo boon ant0i Ld 01-1 hib bthd F"9JFtfg*' 0� f I M
by ltW.
I
0 L, , - - - Th I, r f f i r r. rj f
i f j 1- j r (if, ' Pil i nq to
thf, (_itv anil tho COUMtY AIM)tcr of kl"Jell ('0kil"It illky h(Iti-oh,
author i-.vid anj dirtctc;d- to prepare nrid turninh to M& P-Ul--
chaSer uf th" Hondu, an�i tt, tjjf, nrlorlivyf; rendetiliq an clilli-
joij af. Lo Lho loqal iLy of Iho 11--110iince' there0f, CCU t -1f iL-d
coples nf All, prt-t-dill,41, i4j,k) jecutUM 01 t -be LILY, and hUCII
othvr affidavits, certificates and infotmattifin &S finthy be
rii I quired to show the t1jetti 1-(-latinq ti- the JugaliLy, and mar-
ketability of the Honda as the riame appear Lrom the books
and records und@r thv*r cuatoo— and control or an otherwise
known to Lhem, and all ruch curtifted copiest certificaton
and affidavitfi, includinq any heretofore furnichad, shAllba
deemed r ?prosentutionn of the City As to thp facts reciton
thill i I' A It .
6,us, coijenant city co�,�aants ano igreen
w.th the hol-dei L� from trlr.e- to tilim of. the Bonds that it will
oat ta-ke or perMit to be taken by any Of it�V, 6ffiC*FF# Offi-
playeer or rUpntr riny nrtjon whir'i wb0d eause tht- intoreat
.on ,he Bondr, co beconte rubject to Uxation undor the Intor-
na! Revenue - C bd v of A54, - as alvir-,nded (th 00@),. and rog.olo-
e C J
tions,-&moneed regulations and prjosQd rcqutations issued A
A
thereunder. ;,a now extstin4 or an are.nafter amm-nded or
proponed And in Pffnet at/the time of such action.
6.04. InVestIment ot Moneys on
-Apposit 4,n bind
fur�d. Unle-nS, ani unM—EFFO '_r_Fo`s_-9-a—re-7qq�-=T-a-t ons under $cc-
t7L—cin 103(c) of the rud#_- which have bogn publiuhud by tho
inturnal govenon flarice prior 0 the date hereof have been
modifieJ or amended in pettincrit part, the-Clolk-Adminiatra-
tor rhall arief-rutin monthly the nitiount on deposit In the
Bond Fund, If tho AtfloW)L 01-i dt-TOSIt therein ever exceoda by
morn than P[16,_iVuA nitU
o f rom t ho nrind P'tind wi thin I I months
thVttaftel. rtit-11 Pxcerktt ijiliall tint he Invested except at a
yield lu"n than or eqd--1 to tiie y1eld On Lhe Bondn, bartil
upon their nmountn, maturities anfl intoret" tates on their
-1�-
f! a t v J I v
P I Y
1 f
equal f I f teen pur con t u f L h
all bo iiiri ild riq fi- t a r I
f -, t h P !1b f1d 5 W h. J I F t h irill c) I I id 119
14 n eq 11 h 1 e t h. (-- r r o trii n e, C i y ret -f t lit- r jqnt t( ' timplid
the prvvipionm LJ 1)jj� iltat�tlori 4 a t n n f I ill e - W! - I e t 1-1 C t
pr Jor to 4 1 r Aft#�,r thi V r Y h
zi t'.- V o f
cx"Qnt Lhat t h i f- C ou m i I d P t J: - t-
thib 6.04 arn. not ne-CaLcary in order to asmure ha t
thp Pondr. Are not nrhitraqe hm,,14. unflt-r So-etioll 10(c) C' f
the Code and the nf�pllcable r,�ouliition6,
I .
Ll
'I yol ii,
5 . . il - . -VI! I n i s t a
b, A I'D i 1. r
- . j P?
tor be i rig th� t_' I S 0 t. Ii v city charavid with the r em I) on -
r ' rril 11 11- 4 till
'A .g L , , . . - - , - . .. .. . . . I - - I I - - -
Are authoriZed and directed tk-, tx iTi., t p 8 nd 4( 1 ivur to tho
pti r r ria F; a r a c, c r t i f i c a tu i j i ai (., c, u 1, d it n c e w I L 11 L Im jjiuvinlunB of
Sp�ctj(jtj 103(e) of the Coda, and Treas;ury hoLiulaLions, Sec-
tions 1.3,03-13 lind 1,103-14, stating the fact., Pritimat:28
and circumptances in existence on Lhe daLe Of iSGUe and
delivery of the Bonds which indiepte ttifit the proceeds of
the Bonds will not b@ used in a manne?r that woV)d cause the
Ronds to be arbitraqc bundb wiLhin Lrje meaning of r -aid Cudu
and Aegolations.
&'y
A t te t t
The mOLIOn fOr tl)P� 211OPtiOn Of the f0r@90119
r4Nolution was duly seconded by Member haumigartnoir and
upon vote being taken therrinin, the following vutv�d it, favor
thereofi All
_13-
W/hereupon said r �,nol tit ion w --Is decl are i duly pant -If -A and
hdopted , and wLr- r, tlnt---d by thle tMayor , wh ! ch attez�irf-d by
tho Clerk=Adminlrtrator,