Laserfiche WebLink
(iii) Nothing in this subparagraph (c) shall limit or restrict the provisions of <br />paragraph 10. <br />(d) Letter of Representations. The provisions in the Letter of Representations are <br />incorporated herein by reference and made a part of the resolution, and if and to the extent any <br />such provisions are inconsistent with the other provisions of this resolution, the provisions in the <br />Letter of Representations shall control. <br />3. Pum. The Certificates shall provide funds to finance the Project, particularly <br />for the acquisition of capital equipment having a useful life at least as long as the Certificates. <br />The total cost of the Project, which shall include all costs enumerated in Minnesota Statutes, <br />Section 475.65, is estimated to be at least equal to the amount of the Certificates. <br />4. Interest. The Certificates shall bear interest payable semiannually on June 1 and <br />December 1 of each year (each, an "Interest Payment Date"), commencing June 1, 2004, <br />calculated on the basis of a 360 -day year of twelve 30 -day months, at the respective rates per <br />annum set forth opposite the maturity years as follows: <br />Maturity Ye az Interest Rate <br />2004 <br />2.00% <br />2005 <br />2.00 <br />2006 <br />2.00 <br />2007 <br />2.00 <br />2008 <br />2.30 <br />5. No Redemption. The Certificates shall not be subject to redemption and <br />prepayment prior to their maturity. <br />6. Registrar. U.S. Bank National Association, in St. Paul, Minnesota, is appointed to <br />act as registrar and transfer agent with respect to the Certificates (the "Registrar"), and shall do <br />so unless and until a successor Registrar is duly appointed, all pursuant to any contract the City <br />and Registrar shall execute which is consistent herewith. The Registrar shall also serve as <br />paying agent unless and until a successor paying agent is duly appointed. Principal and interest <br />on the Certificates shall be paid to the registered holders (or record holders) of the Certificates in <br />the manner set forth in the form of Certificate and paragraph 12. <br />7. Form of Certificate. The Certificates, together with the Registrar's Certificate of <br />Authentication, the form of Assignment and the registration information thereon, shall be in <br />substantially the following form: <br />R -- <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />WASHINGTON COUNTY <br />CITY OF HUGO <br />GENERAL OBLIGATION EQUIPMENT CERTIFICATE <br />OF INDEBTEDNESS, SERIES 2003A <br />5 <br />158W7x1 <br />