Laserfiche WebLink
8 <br />4813-3012-0929\3 <br />provisions of this resolution shall also apply to all matters relating thereto, including, without <br />limitation, the printing of such Bonds in the form of physical certificates and the method of <br />payment of principal of and interest on such Bonds in the form of physical certificates. <br />2.09. Form of Bonds. The Bonds shall be prepared in substantially the form found at <br />Exhibit A hereto. <br />SECTION 3. USE OF PROCEEDS. <br />3.01. Refunding. Proceeds of the Refunding Bonds in the amount of $[_______], <br />together with a City equity contribution in the amount of [$70,000], shall be deposited in the <br />sinking fund established for the Series 2013B Bonds to be applied to the redemption of the <br />Refunded Bonds on the Redemption Date, and proceeds of the Refunding Bonds in the amount <br />of $[_______] shall be used to pay costs of issuance of the Refunding Bonds. <br />The City Manager is hereby directed to advise Bond Trust Services Corporation, <br />Roseville, Minnesota, as paying agent for the Refunded Bonds, to call the Refunded Bonds for <br />redemption and prepayment on the Redemption Date, and to give thirty days’ mailed Notice of <br />Redemption, substantially in the form attached hereto, all in accordance with the provisions of <br />the resolution authorizing the issuance of the Series 2013B Bonds. <br />3.02. General Obligation Bonds, Series 2021A Project Fund. There is hereby created a <br />special bookkeeping fund to be designated as the General Obligation Bonds, Series 2021A <br />Project Fund (the “Project Fund”), to be held and administered by the City Manager separate and <br />apart from all other funds of the City. The Project Fund shall be credited with $[_______], <br />representing the estimated cost of the 2021 Improvements ($[________]) and costs of issuance <br />of the Improvement Bonds ($[_______]), from the proceeds from the Improvement Bonds. The <br />City Manager shall maintain the Project Fund until payment of all costs and expenses incurred in <br />connection with the construction of the 2021 Improvements have been paid. After payment of <br />all construction costs and costs of issuance of the Improvement Bonds, the Project Fund shall be <br />discontinued and any Improvement Bond proceeds remaining therein received shall be credited <br />to the Improvement Bond subaccount in the Bond Fund described in Section 3.03 hereof <br />3.03. General Obligation Bonds, Series 2021A Bond Fund. The Bonds shall be payable <br />from a separate General Obligation Bonds, Series 2021A Bond Fund (the “Bond Fund”) of the <br />City, which shall be created and maintained on the books of the City as a separate debt <br />redemption fund until the Bonds, and all interest thereon, are fully paid. Within the Debt Service <br />Account (described below) in the Bond fund shall be created the following two subaccounts: <br />(a) Improvement Bond Subaccount. Into the Improvement Bond Subaccount shall be <br />deposited: <br />(i) any funds received from the Purchaser upon delivery of the Bonds in <br />excess of the amounts specified in Section 3.02 above; <br />(ii) special assessments pledged to the payment of the Improvement Bonds by <br />Section 4 herein; <br />53