Res 1993 - 26 Extract of Minutes of a Meeting of the City Council of MH (5/4/93)�
RESOLUTION N0. 93-26
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF
MENDOTA HEIGHTS, MINNESOTA
HELD: May 4, 1993
Pursuant to due call and notice thereof, a regular
meeting of the City Council of the City of Mendota Heights,
Minnesota, was duly called and held at the City Hall in said City
on Tuesday, the 4th day of May, 1993, at o'clock _.M.
The following members were present:
and the following were absent:
Member Knch introduced the following
resolution and moved its adoption:
RESOLUTION CALLING FOR REDEMPTION OF
OUTSTANDING GENERAL OBLIGATION IMPROVEMENT BONDS OF 1983
A. WHEREAS, the City Council of the City of Mendota
Heights, Minnesota (the "City"), issued on behalf of the City
$860,000 General Obligation Improvement Bonds of 1983, dated
November 1, 1983 (the "Bonds"), of which Bonds $250,000 still
remain outstanding; and
B. WHEREAS, all of the Bonds maturing in the years
1994 to 2000, both inclusive, are subject to redemption and
prepayment at the option of the City in inverse order, on August
1, 1993 and on any interest payment date thereafter at par and
accrued interest, all as provided in the resolution of the City
Council, dated November 1, 1983 (the "Resolution"), authorizing
the issuance of the Bonds; and
C. WHEREAS, the City Council deems it desirable and in
the best interests of the City to call all of the Bonds maturing
in the years 1994 to 2000, both inclusive, on August 1, 1993 in
accordance with the Resolution; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Mendota Heights, Minnesota, as follows:
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1. Redemption. All of the Bonds maturing in the years
� 1994 to 2000, both inclusive, shall be redeemed and prepaid on
August 1, 1993 at par and accrued interest for each such Bond
called.
2. Notice of Call. The City Clerk is hereby
authorized and directed to give mailed notice of call prior to
August 1, 1993, the date for call, to the bank where the Bonds
are payable and to all registered holders of the Bonds. Said
notice shall be in substantially the following form:
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NOTICE OF CALL FOR REDEMPTION
GENERAL OBLIGATION IMPROVEMENT
BONDS OF 1983
CITY OF MENDOTA HEIGHTS
DAKOTA COUNTY
MINNESOTA
NOTICE IS HEREBY GIVEN that by order of the City Council of the
City of Mendota Heights, Dakota County, Minnesota, there have
been called for redemption and prepayment on
August 1, 1993
those outstanding bonds of the City designated as General
Obligation Improvement Bonds of 1983, dated November 1, 1983,
having stated maturity dates in the years 1994 through 2000, and
totaling $200,000 in principal amount. The bonds are being
called at a price of par plus accrued interest to August 1, 1993,
on which date all interest on said bonds will cease to accrue.
Holders of the bonds hereby called for redemption are requested
to present their bonds for payment, at First Trust National
Association (formerly, First Trust Company of Saint Paul), 180
East Fifth Street, 3rd Floor-Bond Drop Window, or if by mail, to
P. O. Box 64111, in Saint Paul, Minnesota 55164-0111, on or
before August 1, 1993.
Dated: May 4, 1993.
BY ORDER OF THE CITY COUNCIL
/s/ Kathleen Swanson
City Clerk
Important Notice: Under the Interest and Divided Compliance Act
of 1983, 31� will be withheld if tax identification is not
properly certified.
Additional information
may be obtained from:
THE SHAUGHNESSY COMPANY
596 Endicott on Robert Building
P. O. Box 1470
St. Paul, Minnesota 55101
Telephone No.: (612) 227-6691
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3. Deposit. The City Treasurer is hereby authorized
� and directed to deposit with the bank where the Bonds are payable
prior to said call date sufficient funds to pay all principal and
interest due on the Bonds as of the call date.
The motion for the adoption of the foregoing resolution
was duly seconded by member Krebsbach and upon a vote
being taken thereon, the following voted in favor thereof:
and the following voted against the same:
adopted.
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Whereupon said resolution was declared duly passed and
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.;�; STATE OF MINNESOTA
�� COUNTY OF DAKOTA
CITY OF MENDOTA HEIGHTS
'�.:
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I, the undersigned, being the duly qualified and acting
Clerk of the City of Mendota Heights, Minnesota, DO HEREBY
CERTIFY that I have carefully compared the attached and foregoing
extract of minutes of the City Council of the City of held on the
date therein indicated, with the original thereof on file in my
office, and the same is a full, true and complete transcript
therefrom insofar as the same relates to calling for redemption
of outstanding General Obligation Improvement Bonds of 1983.
WITNESS my hand as such Clerk and the official seal of
the City this 4th day of May, 1993.
�C�.
City Clerk
(SEAL)
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