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RES 19-055 AUTHORIZING ISSUANCE, AWARDING SALE, PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT OF $2,480,000 GENERAL OBLIGATION BONDS, SERIES 2019A
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RES 19-055 AUTHORIZING ISSUANCE, AWARDING SALE, PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT OF $2,480,000 GENERAL OBLIGATION BONDS, SERIES 2019A
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3) This section is entered into to comply with the continuing disclosure provisions of <br />the Rule and should be construed so as to satisfy the requirements of paragraph <br />b)(5) of the Rule. <br />SECTION 9. CERTIFICATION OF PROCEEDINGS. <br />9.01. Registration of Bonds. The City Manager is hereby authorized and directed to file a <br />certified copy of this resolution with the County Auditors of Hennepin and Ramsey Counties, <br />together with such additional information as is required, and to obtain a certificate that the Bonds <br />and the taxes levied pursuant hereto have been duly entered upon the County Auditor's Bond <br />register. <br />9.02. Authentication of Transcript. The officers of the City are hereby authorized and <br />directed to prepare and furnish to the Purchaser and to Dorsey & Whitney LLP, Bond Counsel, <br />certified copies of all proceedings and records relating to the Bonds and such other affidavits, <br />certificates and information as may be required to show the facts relating to the legality and <br />marketability of the Bonds, as the same appear from the books and records in their custody and <br />control or as otherwise known to them, and all such certified copies, affidavits and certificates, <br />including any heretofore furnished, shall be deemed representations of the City as to the <br />correctness of all statements contained therein. <br />9.03. Official Statement. The Preliminary Official Statement relating to the Bonds <br />prepared and distributed by Ehlers, is hereby approved. Ehlers, is hereby authorized on behalf of <br />the City to prepare and distribute to the Purchaser within seven business days from the date hereof, <br />a Final Official Statement listing the offering price, the interest rates, selling compensation, <br />delivery date, the underwriters and such other information relating to the Bonds required to be <br />included in the Official Statement by Rule 15c2-12 adopted by the Securities and Exchange <br />Commission under the Securities Exchange Act of 1934. The officers of the City are hereby <br />authorized and directed to execute such certificates as may be appropriate concerning the accuracy, <br />completeness and sufficiency of the Official Statement. <br />9.04. Authorization of Payment of Certain Costs of Issuance of the Bonds. The City <br />authorizes the Purchaser to forward the amount of Bond proceeds allocable to the payment of <br />issuance expenses to Old National Bank, on the closing date for further distribution as directed by <br />Ehlers. <br />9.05. Redemption of Refunded Bonds. The City Manager is hereby directed to advise: <br />a) Wells Fargo Bank, National Association, Minneapolis, Minnesota, as paying agent for <br />the Series 2010A Bonds, to call the Series 2010A Bonds for redemption and prepayment on the <br />Redemption Date, substantially in the form attached hereto as Exhibit D, all in accordance with <br />the provisions of the resolutions authorizing the issuance of the Series 2010A Bonds; and <br />b) Bond Trust Services Corporation, Roseville, Minnesota, as paying agent for the Series <br />2011A Bonds, to call the Series 2011A Bonds for redemption and prepayment on the Redemption <br />Date, substantially in the form attached hereto as Exhibit E, all in accordance with the provisions <br />of the resolutions authorizing the issuance of the Series 2011A Bonds. <br />17 <br />4837-9618-831215
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