Laserfiche WebLink
• maturity date, issued pursuant to a resolution adopted by the City Council on June 13, 2000 (the <br /> "Resolution"), for the purpose of financing the costs of improvements to the storm sewer utility of the <br /> City and is issued pursuant to and in full conformity with the provisions of the Constitution and laws of <br /> the State of Minnesota thereunto enabling, including Minnesota Statutes, Section 444.075 and Chapter <br /> 475. For the full and prompt payment of the principal and interest on the Bonds as the same become <br /> due, the full faith, credit and taxing power of the City have been and are hereby irrevocably pledged. <br /> The Bonds are issuable only as fully registered bonds in denominations of$5,000 or any multiple <br /> thereof, of single maturities. <br /> Bonds maturing in the years 2002 through 2009 are payable on their respective stated <br /> maturity dates without option of prior payment,but Bonds having stated maturity dates in the years <br /> 2010 through 2015 are each subject to redemption and prepayment, at the option of the City and in <br /> whole or in part, and if in part, in the maturities selected by the City and, within any maturity, in $5,000 <br /> principal amounts selected by lot, on February 1, 2009 and on any date thereafter, at a price equal to <br /> the principal amount thereof to be redeemed plus accrued interest to the date of redemption. <br /> [INSERT REDEMPTION PROVISIONS FOR ANY TERM BONDS] <br /> At least thirty days prior to the date set for redemption of any Bond, notice of the call <br /> for redemption will be mailed to the Bond Registrar and to the registered owner of each Bond to be <br /> • redeemed at his address appearing in the Bond Register, but no defect in or failure to give such mailed <br /> notice of redemption shall affect the validity of the proceedings for the redemption of any Bond not <br /> affected by such defect or failure. Official notice of redemption having been given as aforesaid, the <br /> Bonds or portions of the Bonds so to be redeemed shall, on the redemption date, become due and <br /> payable at the redemption price herein specified and from and after such date (unless the City shall <br /> default in the payment of the redemption price) such Bond or portions of Bonds shall cease to bear <br /> interest. Upon the partial redemption of any Bond, a new Bond or Bonds will be delivered to the <br /> registered owner without charge, representing the remaining principal amount outstanding. <br /> As provided in the Resolution and subject to certain limitations set forth therein, this <br /> Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by the <br /> registered owner hereof in person or by his attorney duly authorized in writing upon surrender hereof <br /> together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the <br /> registered owner or his attorney; and may also be surrendered in exchange for Bonds of other <br /> authorized denominations. Upon such transfer or exchange, the City will cause a new Bond or Bonds <br /> to be issued in the name of the transferee or registered owner, of the same aggregate principal amount, <br /> bearing interest at the same rate and maturing on the same date, subject to reimbursement for any tax, <br /> fee or governmental charge required to be paid with respect to such transfer or exchange. <br /> • -4- <br />