Laserfiche WebLink
Registrar, Transfer Agent and Paying Agent(the "Bond Registrar"), or its successor designated <br /> • under the Resolution described herein. <br /> This Bond is one of an issue in the aggregate principal amount of$1,170,000 all <br /> of like date and tenor except as to serial number, interest rate and maturity date, issued pursuant <br /> to a resolution adopted by the City Council on September 23, 2003 (the "Resolution") to refund <br /> certain of the City's tax increment bonds, and is issued pursuant to and in full conformity with <br /> the provisions of the Constitution and laws of the State of Minnesota thereunto enabling, <br /> including Minnesota Statutes, Section 469.178 and Chapter 475. This Bond is payable primarily <br /> from tax increments to be derived from a tax increment financing districts (the "Districts") <br /> established by the Housing and Redevelopment Authority of St. Anthony, Minnesota(the <br /> "HRA")which have been pledged to the payment of the Bonds by the Resolution. In addition, <br /> 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 irrevocably pledged. <br /> The Bonds are issuable only as fully registered bonds, in denominations of$5,000 or any integral <br /> multiple thereof, of single maturities. <br /> Bonds maturing in the years 2007 through 2011 are payable on their respective <br /> stated maturity dates without option of prior payment, but Bonds having stated maturity dates in <br /> the years 2012 and 2013 are each subject to redemption and prepayment, at the option of the City <br /> and in whole or in part and if in part, in the maturities selected by the City and by lot, assigned in <br /> proportion to their principal amount, within any maturity, on February 1, 2011 and on any date <br /> thereafter, at a price equal to the principal amount thereof to be redeemed plus interest accrued to <br /> • the date of redemption. <br /> At least thirty days prior to the date set for redemption of any Bond, notice of the <br /> call for redemption will be mailed to the Bond Registrar and to the registered owner of each <br /> Bond to be redeemed at his address appearing in the Bond Register, but no defect in or failure to <br /> give such mailed notice of redemption shall affect the validity of proceedings for the redemption <br /> of any Bond, not affected by such defect or failure. Official notice of redemption having been <br /> given as aforesaid, the Bonds or portions of Bonds so to be redeemed shall, on the redemption <br /> date,become due and payable at the redemption price herein specified and from and after such <br /> date (unless the City shall default in the payment of the redemption price) such Bond or portions <br /> of Bonds shall cease to bear interest. Upon the partial redemption of any Bond, a new Bond or <br /> Bonds will be delivered to the registered owner without charge, representing the remaining <br /> principal amount outstanding. <br /> As provided in the Resolution and subject to certain limitations set forth therein, <br /> this Bond is transferable upon the books of the City at the principal office of the Bond Registrar, <br /> by the registered owner hereof in person or by his attorney duly authorized in writing upon <br /> surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar, <br /> duly executed by the registered owner or his attorney; and may also be surrendered in exchange <br /> for Bonds of other authorized denominations. Upon such transfer or exchange, the City will <br /> cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the <br /> same aggregate principal amount, bearing interest at the same rate and maturing on the same <br /> • date, subject to reimbursement for any tax, fee or governmental charge required to be paid with <br /> respect to such transfer or exchange. <br /> 3 <br />