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the issuance of the additional obligations shall have been at least equal to 125% of <br /> the maximum amount of principal and interest to come due in any future fiscal <br /> year during the remaining term of the 1987 Bonds and on the additional obligations <br /> then proposed to be issued. The Council hereby finds that the Net Revenues of the <br /> Store for the fiscal year ended December 31, 1991 (which is the last complete fiscal <br /> year of the Store) were at least equal to 125% of the maximum amount of principal <br /> and interest to come due in any future fiscal year during the remaining term of the <br /> 1987 Bonds following the redemption of the Refunded Bonds on Janaury 1, 1993 and <br /> the Bonds, and therefore the Bonds may be issued payable from the Net Revenues <br /> on a parity with the 1987 Bonds. <br /> 1.04. Sale of Bonds. The City has received an offer from Moore <br /> Juran & Company I of Minneapolis , Minnesota, (the <br /> Purchaser), to purchase the Bonds at a price of $400,545.00 , plus accrued interest <br /> from the date of the Bonds to the date of delivery thereof, the Bonds to bear interest <br /> at the rates set forth in Section 3.01 and have such other terms as are set forth in this <br /> Resolution. The proposal is deemed reasonable and in the best interests of the City <br /> and is hereby accepted. <br /> 1.05. Performance of Requirements. All acts, conditions and things <br /> which are required by the Constitution and laws of the State of Minnesota to be <br /> done, to exist, to happen and to be performed precedent to and in the valid issuance <br /> of the Bonds having been done, existing, having happened and having been <br /> performed, it is now necessary to establish the form and terms of the Bonds, to <br /> provide security therefor and to issue the Bonds forthwith. <br /> Section 2. Form of Bonds. <br /> 2.01. Bond Form. The Bonds shall be prepared in substantially the <br /> following form: <br /> • -2- <br />