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2004.06.07 RESO 2004-0039
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2004.06.07 RESO 2004-0039
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10/26/2017 2:04:15 PM
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City Council
Document Type
Resolutions
Meeting Date
6/7/2004
Meeting Type
Regular
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Redemption. All Bonds of this issue (the "Bonds") maturing on February 1, 2016 and <br />thereafter, are subject to redemption and prepayment at the option of the Issuer on February 1, <br />2015 and on any date thereafter at a price of par plus accrued interest. Redemption may be in <br />whole or in part of the Bonds subject to prepayment. If redemption is in part, the Issuer shall <br />determine the maturities and the principal amounts within each maturity to be prepaid; and if <br />only part of the Bonds having a common maturity date are called for prepayment, the specific <br />Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Bonds or portions thereof <br />called for redemption shall be due and payable on the redemption date, and interest thereon shall <br />cease to accrue from and after the redemption date. Mailed notice of redemption shall be given <br />to the paying agent and to each affected Holder of the Bonds. <br />Selection of Bonds for Redemption.• Partial Redemption. To effect a partial redemption <br />of Bonds having a common maturity date, the Bond Registrar shall assign to each Bond having a <br />common maturity date, a distinctive number for each $5,000 of the principal amount of such <br />Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall <br />deem proper in its discretion from the numbers assigned to the Bonds, as many numbers as, at <br />$5,000 for each number, shall equal the principal amount of such Bonds to be redeemed. The <br />Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided, <br />however, that only so much of the principal amount of such Bond of a denomination of more <br />than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so <br />selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar <br />(with, if the Issuer or the Bond Registrar so requires, a written instrument of transfer in form <br />satisfactory to the Issuer and the Bond Registrar duly executed by the Holder thereof or the <br />Holder's attorney duly authorized in writing) and the Issuer shall execute and the Bond Registrar <br />shall authenticate and deliver to the Holder of the Bond, without service charge, a new Bond or <br />Bonds having the same stated maturity and interest rate and of any Authorized Denomination or <br />Denominations, as requested by the Holder, in aggregate principal amount equal to and in <br />exchange for the unredeemed portion of the principal of the Bond so surrendered. <br />Issuance: Purpose: General Obligation. This Bond is one of an issue in the total principal <br />amount of $2,560,000, all of like date of original issue and tenor, except as to number, maturity, <br />interest rate, denomination and redemption privilege, issued pursuant to and in full conformity <br />with the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by <br />the City Council on June 7, 2004 (the "Resolution"), for the purpose of providing funds to <br />finance the acquisition and betterment of a new public works facility as described in the Issuer's <br />Capital Improvement Plan. This Bond is payable out of the General Obligation Capital <br />Improvement Bonds, Series 2004A Fund of the Issuer and constitutes a general obligation of the <br />Issuer. To provide moneys for the prompt and full payment of its principal, premium, if any, and <br />interest when the same become due, the full faith and credit and taxing powers of the Issuer have <br />been and are hereby irrevocably pledged. <br />Denominations: Exchange; Resolution. The Bonds are issuable solely in fully registered <br />form in Authorized Denominations (as defined in the Resolution) and are exchangeable for fully <br />registered Bonds of other Authorized Denominations in equal aggregate principal amounts at the <br />principal office of the Bond Registrar, but only in the manner and subject to the limitations <br />provided in the Resolution. Reference is hereby made to the Resolution for a description of the <br />16519WI 8 <br />
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