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C. WHEREAS, the bonds are subject to redemption and <br />prepayment on April 1, 1984, and on any interest payment date <br />thereafter at par plus accrued interest, and the City Council <br />deems it desirable and in the best interests of the City to <br />redeem the bonds on October 1, 1992, and to give notice thereof: <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Hugo, Minnesota, as follows: <br />1. Redemption of Bonds. The bonds shall be redeemed <br />and prepaid on October 1, 1992, at par and interest accrued to <br />the date of prepayment, and the Clerk -Treasurer and Administrator <br />are hereby authorized and directed to cause notice of the call to <br />be published in Northwestern Financial Review prior to said <br />prepayment date and to be given by mail by September 1 to the <br />paying agent for the bonds, who shall give mailed notice to any <br />holders of the bonds who have requested mailed notice and who <br />have registered with the Clerk -Treasurer or the paying agent. <br />Said notice shall be in substantially the form set forth in <br />Exhibit A attached hereto and incorporated herein by reference. <br />2. Source. The Sinking Fund Account in the General <br />Obligation Sanitary Sewer Improvement Bonds of 1974 Fund shall be <br />the source of the moneys used to redeem and prepay the bonds. <br />Upon roll call, voting AYE: Brunotte, Leroux, Miron, Stotlzman <br />Voting NAY: None <br />Whereupon said resolution was declared passed and adopted this 17th day <br />of August, 1992. <br />ATTEST: <br />Mary V <br />reager, City Cle <br />222583 <br />2 <br />Walter L. Stoltzman, Mayor <br />