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Res 72 - 474 Authorizing & Establishing the Form & Details of $300,000 Trunk Sewer Improvement Bonds, Series B, & Levying Taxes & Appropriating Special Assessments for the Payment Thereof: . . 't . ' � ., = , p . ' " � � � ' , . • -� • . � RESOLUTION N0. 474 - .� , , . . . � � • RESOZIPI`ION -�AU`.CH4I�IZING.' AND ESTABLZSHING . . ' ., ` - ' •- THE.- FC}RM AND DETAIL� OF $�00,000: TRUNK ;� . ' ' . ` � - ' SEWER�IMPR4VEMENT BONDS, SERTES B, ANDr � `�. ` � - " ` - � • _ L�EVYING TAXES � AND. APPROPRTATTNG SPECIAL ' . - . , ' ' � �- -' ' _ � ASSESSMENTS FOR THE PAYMENT THEREOF • ' � ' : � - - ; { � , � . .. ,^ - � � � BE IT RESOLVED by. �he' Council of the Village .of .Mendot.a� ,'= ' ` Height�s., Minne.sota, as fali.ows:: � �. - ` • , . � _ �: _ _ -, - : -' 1. `" I�" is. hereby, faund and det'ermined tha� -�he: Village �,� � � did heretofore 3s`Sue .$-�75, OQQ: Terriparary Trunk .Sewer, Irnprovement ' , � .• . - ` Bonds, ��.�`'��''.it�S- C� dated May ��1,� 1:95-9,, ,for the' purpose �of paying. .' , �� = . ' � .costs=. of �he �`Village �for constr.ucti.on- of a -local san.i�ary sewer- ~ � • . � improverrient-; which-�bonds ;we;r.e :au.thorize.d by"";re,solu.ti�on af the - . ' . � _ Council adopted on May :6; 1969;,��ha�.''.all' of-� said bonds "were .valid-. � . " ly' i:ssued: and cons�i�ute� lega�l obl:iga�ions of the Village in th.ei.r . full' amourit; that all ,of• tYi'e.;:said boncls-� "a-re�`riow. outstanding an.d �� - . be.came 'due �and payable= on. .May •l;�s�19�72;' :that. :t��e` amou.n� :of� moneys - . . ,_ remaining an hand in �he Temparary �Irnprovement Bond Fund ancl avai.l- _ ,- able' for the paymen� o.f .said.�Tempor,,ary _Impr.ovemen�: -Bonds is approx- . �. _ � ` ima_�ely equal to and��riot �less�than;'.$l$5,925;i� af wYiich -amount.' `. - . � °. . � '$10,925.'-is required for �the payment 'of in�eres.t ° on �saa.d bonds com- � , � ing due on their maturity,� and $�.75,00.0 .is available,-�for and will .� �' ,�be: applied to paymen� 'af, principal; an.d �tha�- it is = necessary. '•ta., ,,�� • .- issue $300,000, ,definitive �improvement bonds ta refund �the`: same:. ` � ' ;, princa.pal `amoun� 'of said� Temparary Trun.k Sewer Improvemen�, �.Bon.ds. - mat uring . on .• May �l , 19 7 2 .� � . . ' � - ` =, Y _ � � : . � .- 2.` There � h-as been cre.ated and sha11 hereby� �be 'con�i:nued •, " - ` the_ Trunk .Sewer Tmpravemen� Bond Fund,.:.which� shall' be main�aine,d .-� �� ' x a� all. times' as a� sepa.ra�e. :account .on the . b'ooks . of �he' V�.11age. �- - . . - .Int,o �it shall be paid from {the: 'Pemporary .-Improveirient Bond Fund . , �, � ' any� bo.nd-proceeds �or spe.cial asses:smerit 'call.ect�.ons received. on ., _. � � - � account of �he issuan.ce .af� said Temporary Trunk Sewer Impravemen.� °.... _. ' , `_ - .� Bonds, �o: the� ex�ent tha� .�.hey. ar,e not applied to the payme.n� �.of • �, - prineipal .and in�ere�t .due� on said `b�onds an May l�, 1972. �° In�o` " x - said Trunk Sewer Improvement -Bond rFund sha11 also be. paid any and�-��. : : � �' a11 bond -.proceeds received� from =th.e purchaser, and �he �call.ections� � . � o�' �all' special asses'�ments lev.ied on accoun� of �he � impravemen� .., � " financed by'. said 196� ��'erriporary bands, and �he co.11ections ;of any .�_ '- � , general ad. valarem� �axes he'reafter. l.evied for payment .af •the �aonds " -herein authorized:. � Money,s `in sa�id Trunk Sewer Tmpravemen.� Band ,_ � � ' � Fund sha11' be' used anly for: �he � payment� 'or prepayment af- principal: � � and inte.rest an' �he_ boncls he'rein au�horized and on such borids as ,- • � may her.eafter. be 'i�sued and made payable from� said fund, includ- ° • �� ' ing premiums for red.emptions be.fore maturity.�• `' . . �- _ � : , , _�- , .. • . t - . _. . ' 3. Th�e 'de.fini�ive improvemen� bonds af �he� Village� # - `� � -+ ,- hereinabove de�ermined `to be �issu.ed sha11 be .desi.gnated. as '.'`�ru.nk f,= _ " ' Sewer Improvemen� 'Bonds, Se'ries �B"., all payable" primarily...from : �. . . the Trunk Sewer Improvem�n't 'Band Fund � af the' Village ,-, TYiey shall _" '� � � � - ._ . , , .. . - . - , . ' . • . �� . , - . � . . , . � -_ _3_ � _ . , - . ,_ . . • . . " - �- � - � , . 1 � , t ' . . � .. �' . µ , .. , . e • ` ' . - ' ` � ' . , , • r , ��for�h`�r��h. :be: issited and. del.i.vered ta. �irst National Bank - . ��, - , �- ; � _of St. Paul � � , Minnesota ' , as 'the ; �� . . . � . _ . successful bidder �herefor, zn accordance. w�.�h. 'the afficial adver�ise- . ' . ment .for bi.d� heretafore publi'shed. � and the 'bid �of said bidder _ � .� - acc.epte.d. by. :�his Gauncil: �` Said .bands shall� be dated_ a� of� February l, _. ' '. ' 1972; ,shall lae ��60 in num1�gr and .numbered serially- f'rom 1 to` 60,. in- ' ' . .� c1-usive, each in th:e .deriom�nati�an :af $5,QQ0.; and shall� mature �seri- � �. ally ,on August .l in �he .years and .amaiznts� sei for�h be1.'ow,� �and the,' � � bands �of ea.ch: maturity shall bear interest .at� the rate. 'per annum - �- _� _ � shown appasite. �he year a�- matu.ri�y,• as fflllaws�: ' �; • _ � ' : , - ` , � .,I ` :� . '� , . ' . " _ Ye ar � 5 'Amoun� • � ', Ra� e • '• , - Ye ar � • , , �Amo'un� � . - Ra� e . 1�73 � t. $,25,QQ0° Jf _ � }�=�4y��` ° � ��` 1979 ` $25,OQQ - ' 4 I/2� '. �'. - 1974 y{- ` _ �25;000 ', f`x"�'G��. . .''`�''� 1980 - - 2S,OOQ:• : � .4 1/2,� . � � 1975 � _ _„t 25.,000 - .. 4% " � 1981 �- - 25,40p � � 4.8y� " . . • - I976 ';=` t„ 25°;,OdO �'' � _" =�. 4;6 �. � � + ,�' 3:982 , : • 25, 000 � � • 4. 8% : • - . � , � 1977 . - ° " }25, OQO� �',�!' :'4 � 1�4X ;�; �• �: �� 1�983 . � . _ 25, 000� _ 4. 9% ". 2478 - � 2S, 0{}0 4 I/4/� ` �. 1.984 � 25, {}fl0 y - ' .,, 5l � . . - . �}. . '�.? �as � . �_ ��a " x• xyc ;� .s _ . . - - ` � .{ � � x ,��'� +� iF � � i T i `*o, � �j '" �, � � � .k, 't R . . ' . � ` � F - ' .. �T . � . � . , . . � � f _ ' ; _ t ' . ' • - , . ' + ' � � � x t . ' -' � ` . � TYie �bonds ma�ixring in the �years ��197.3 through 1982 'shall �be'without � �. , -� . op�ion of priar paymen�, l�u� •�hcise inaturing in 19$3 �:and 1984 .shall � ° � . . � each .�be. .su:bj.ect .�o •red'em:pt ion. °and prep.aymen� .a� �the op�i`on of �he . ' . , , V�.11age in inver.se 'order of� serial numbers �on Augus� :1, �1981, and �,� , any interest payment da�e th'ereafte.r`, . a� 'par and accrued interest . �,: _ • . A�:l' redempt�.�ans _ �hall :be 'made �on noti.ce''of call .for redemption pub-,; lished: na� Ies's �'cYian. 30 ',day�� prior ��o �h.e. date .sp.eei�`iec1, for redemp- '�- ._� tion in a' daily or �wee'kly rperiodical publ'ished in a Minnesota city t . . �af �he �first� class �o� i'�s� metrapali�an �area, whieh 'circula�es �hrough-�, . .' ,� out � the , state. and furnishes: financial n:ews � as a part of its service. • - '�he na�ice shall also be.. ma�.led �o� �he `bank at whieh principal. of andi ' ,� - �interest on said bonds is the=n. payable, ,+but .published notice shall ' • be ef`fee��i.ve witho=ut mail.ing. � The ` prinezpal. _ of and .in�ere�t � on said , �'. _ bcinds sha11 be: payable� a� �' First National"Bank • F '.. � : a • ' � � � ; - , �� St.. Paul �; Minnesota , ` , and � " � , '. �he Village- hereby. agrees ta pay the reason.able��and customary. charges . af s'aid paying agent for the ,rec'eip� and disbursement �hereof. , . ;, . . � 4.. ,` Sai�d bonds �arid the .in�e.res't . caupons appurtenant •'chereto' X x. , _ , shall be in. subs�antially the .follawing farm: .: ' ` ' - _ .. . , . . �. .' � ` : � - i - � 5 - � • , , , a r � ' • � - -' ; .. .. +� �:. � , a � .0 �" . ' �. T •.. ^ _ .. 1 -" . •s. . �� • ' � ," A . � ' i _ . � . . ., .c . , . . _ . . . . ' � ' UN.ITED STATES OF AMERICA � � • ' - ' ' � � STAT� OF MINNE.SOTA - - ' COUNT.Y. OF DAKOTA ' _ . - ` . � - : VILI;AGE OF MENDOTA HEIGHTS � . � � - " � TRUNK' .SEWER IMPROVEMENT. .BOND�� SERIES .B.� . � ' ' . No. � - . : - .� � , ' �5',000 � KNOW ALL . MEN BY THESE � PRESENTS. that the , Village. �.of Mendot a • Hei:ght's., Dakota County,• Minnesoia, �acknowl.edges '�its.elf t.o. be 'indebt'ed , and, for value� .received. promises: to� pay �to. bearer the sum of FIVE � THOUSAND. DOLL'ARS on the :lsi 'day �of August, ;lg , or, •if this bond . is ,redeemable .as -sta'te�d beTow, on a date �prior thereto. on which it -. shall haye been duly�called for earl.ier s�edempti�on, and to pay in- � te:res't�� th�:er;eon`'at _the i rate'f o,f.. � : " � ' ` per� cent '( l` '� r A t%) �per' annum�, from the .date hereoi:until� said . princ,ipal sum is paid,,:.or,..if this bond is -redeemab.le, until it .has� been. ;dulyycalled for-� earli�er. q*rederripti�on,, payable �on A�gust :1, 1972, - and� semiannuaally� tYiereafter. on Feb.r.uary 1 and August�. l,;�of each year, .' , iri�e.r;est� to�:maturity -�being repres'erited by_ and payab.l� in accordance - . with.;yand�}upon presenta.tion and surrender of the �inte.rest'= coupons �•. �. appurtenant' hereto:'° ` Both'principal and interest �are payable at . , - in � � -�; , � . - - � . , in any � �c oin or: currericy of th.e 'Unite.d States of Ameri.ca which on the respect.i�:ve '� � date.s of paymen.t .is .legal� te'nder., for public: and private. `debts . For . the pr'ompt �.and full' payment 'of � said principal "and' inte.rest .as the '. same :resp�ect;i.vely bec'ome .due,� tYie; full' �faith, ,cred.it and unlimited � :taxing power.s �of said Village �have been. and are �hereb'y •i�rrev.o.cably � � � pledged. " _. ` � _- r ,' This� bond is one �of an. issue .in the aggregate. principal "amount of' $300.�,:00.0,� all �of like �date .and. tenor exce.p:t as to� serial �� , number, ,interest rate, red'emption� privilege and maturity., issued. - , ' ' for the .purpose 'of paying and ref:unding atq maturity� •a portion of . ; the principal amount of temporar�y �improvemerit .bonds issued i.n lg6g, ,. and is �iss�ued .pursuant .to. and in �full conformity wi.th the "provisions � of -the �Consti�tuti`on _ and laws. �of the St�ate. of Minnes'ota thereunto '. • enabl�ing. This bond is pay.abl'e primarily •from the` Trunk Sewer. Im-. � . provement .Bond Fund� of the, Village, but� t1�e Council is req'uired by � law to. pay maturing principal hereof and interest 1�.ereon out of any . funds in the treasury �if money.s• �o�n hand. in said special �fund are insufficient :ther.efor. ' . � ' � - • �� . . _ - �� - . . ° Bonds �of this is'sue maiuring in 1982 and earlier years are ' 'without option�of prior payment.' Bonds �of this issue,maturing in ' 1g83 �and 1984 ,are each� .su:bj'ect .to' redemption at :the option of the : Village in inverse order of serial numbers on August�.l, 1g81•, and �•- any inte'rest� .payment date: ther�eafte:r at :a price of par plus accrued interest.�- Notice of ca11 for red�emption will be .published not .less th ��30 d ' b f �th " d t� ' f' d� for redem tion in a financial -- an ays e ore e a e. speci ie p per'io`d�.cal publ.ished� in a Minnesota city. of the first class or its metropolitan area.� �' , . � � : , , ��,� - , . - .. , _ ' , .. , . .. . _ �_ 5_ - � , . . -., . . = _ 6 a - k . , a , ' ' . , . . � ,. � _ . _ . . . � . ' ` �• IT IS. HE�i.EBY. CERTIFTED, RECITED, COVENANTED AND. AGREED � --�ha� al1 ac�s,� canditions and �hln.�;s requi.red: by the� Cons�itu�ion `. . . and 1aws: �of sthe Sta.'ce. 'af Mi,nnes'ota to. be: done, to. exist,�� to� happen and to. be 'performed �preceden� :�a and �.n �he- issuance of this bo.nd in order to. make it" a valid and bindirig gener.al.� obligation o�' said -•� -, ` Village :according �ta� i�s .te.rms� �ave� been dane, do ex�.s�,. have � � , � � �. happeried and have beeri perfarmed a��•so required; that prior ta the issuance. hereof the Village has- duly levied special a�ses'smen�s for . - �he �years required. and �.ri amounts.-:�ufficient .to produce suins not : � -. _. 1.ess than' 5% in excess of the .amoun.ts� require.d to pay the pri.ncipal = of and in�e,r.est on. �he :bonds �of th�:s issue �as such principal and ,� inter,est res'pec�i.vely _bec'ome .du.e,, and has appropriated the same 'ca.° . . said � fund, and gerieral ad valor.e�i- �axes, ,�.f needed for said purpose, '� �.' may be �levied; upon all� �axabl'e property� wi.�hin the Village wi�hou� .�� . . li�i�at�.an. as to ra�e:_ ar� amoun�;. and that :�he issuarice �af this band '. did not.�cause the indeb�.edness af�said Village to exceed any con- �� . st�i�u,ti.ona7. or statutory •limitation. 5 ' , ' - _ • . �' = IN .wSTNESS WHEI3.EOF, the: Vil•lage� of Me'n.dota Hei.ghts�, Daka�a - Coun�y, Minneso�a, by i�s` V�.11age .Cauncil., has caused th3.:� bond ta .� - be. execute.d •in its � behalf. by'. the s3gnature:• 'of its: `Ma�Zor, att.e'sted �• ` by.'•�he signature. of the Vil�.age� Clerk, and the. �corporate. :seal of �, . �he *Vi�llage �'o bea.affixe'd:� heret:o, ,and has .�caused the "i.nte.re.st cou- , . , pons' app'urteriant� her.eto and � the .cert•iiic.ate, .as to legal - opznion on �he .reverse� .side he,r.eo:f to be: executed and auth'en�ica�ed by the fac-' . - � ' simil.es si�gnatures_ of �sa.id� office� '� all as of February' �, 1972. � - t --- - � , . - - . r ,. x , -� �; ,�•� _ � r � �;". � � � . . . /j /n/ . � , - {� ,� r j i . • � . . . .i�Ar�I/!,_,,,/x.. . J e . . � r t r . ' . ., $ � �f : ; , '� � + ��- � _ r {� ° ' _ - . Mayor . � . � - Attest� .,...,.. .,,. .. . � Villa C erk : � , ." -. : - � - - � ,. � . • � , • • . . � . ., . . , :; . - • , . � - - . , . � t SEAL }' - � . , � , , , ` . , - - .. . . . . , �; . . - � , - _ ` . i' ,��y� . . . � , . - �` - • � . - , ' , .' - r .} . • , �� ' ' ` � . . . .. �'.' ` . ^ r'`.' e,. ' s - - • � ' , e • • ' . i ..� , � � • , -�'2'�.� _ _ a e .. i r - r � . . . _ � �' � ..'A�h .. �. . �" . _ ! r t ` ' � � , • _ ' ,... , : 3 ' ' ' 'k � ~ • 1 . , • . �-Jr '_ .t,f , _ �. _ , ' . • 4 . ' , I _ ' , r . _ ` — +�3-' . . . ,,. ' • • ' � . ' ` . . s � n , i � i , . �'M '•- • ._ � . � - ' ` t � ' . i _. . .. . . . } . ' . � ' , - • ' � ' 4 ' � - ' ` ` � ' _ ' . ` ' ' t ' � • ' + ' � ' ' _ � ' - j - . . „ } . • . _ . . '" . ' -�- ' -- ' . � : - • > - - ' . � .. � I_ - � � � (F.o'rm of Coupon) • � . - . , - No . '. . . , .. � � . r � - -. On the .lst �day of August� (F.ebruary) , lg , the Village of � . Mendota Hei.ghts., Dakota� County,• Minnesota, ,will pay �to. be.arer .at � - • ' . - _• � . , in � � • � . . - - _ , the .sum shown hereon in -lawful money_ �of the United_ � , States' �of Amer.i:ca -for inte:rest� th.en due �on its Trunk Sewer Improvemen.t ' - Bond, Ser.ies� B, date.d February •l, ,1g72; � No . . � � `� ' -, ,:(F,acsimile si�gnature). r (•F.acsimile signature) . � � _ . Village� Cl�erk�. � _ Mayor ' _� ._ (C.erti;ficate.. as �to legal_�opinion to. be printe:d on the � . rev.er.se side .of ea.ch bond) � : � � - .� � We. .certify that :the above is a. full, true and correct. copy - . of � the::leg.al opinion render.ed by. bond counsel' on t,he issue of borids � _� of• the Uillage of Mendota- He.i.ghts.,. Minnes.ota, which includes �he 'with- - in bond, dated. as of tYre .date: .of delivery of and payment� :for. the bonds .�' � . � ", (•F.acsimile signature) . (F.acsimile signature) � � � - - . Vi11-age 'Clerk � - _ Mayor , � � ' - - . � - �" -- ' _ . �r = P �j � r . • � • ' • • • ' • ' , � t . f� � - ,� _ .� t . - . ' T LL ' � '_ 1 � � � _ t =� '� _ � ' - ' � 'nt Y -' i+ " . � , e � � �_ ' • , " , • - _� #. , z '. +,�E� t.4 : y �,!'�; - - ` . ' ' " � � ^' ` P �! ' - . :.F - • ='# ' F'-, .� F - . - • - .. . _ c' j - ( ` . . ' _ , - ' ' . _ r _ . ._ ,_ , .�� , � .. [ •�' . . . . � . ' ' • ' - ` s .. - , . i _�'7�. . . _ .. 1 • _ . �i � � • ' � i y • . � � °, 4 + ..` ' � 5• The bands sha�.1 be, forthwith prepared for execu�ion -� �, under the direc�ion af �he"Vi3lage :Clerk; and �hal1, ih.en be execu�ed � - _ by. the signa�ur. e of t;he Mayo�r, a'��ested by. the' Village Cleyrk and - , " . �sealed with 'th.e 'corporate. seal af the Village, and the' appurtenan� � .> in�erest .coizpons and �he�. :certi'.fa.ca�e. as ta 2egal opinion shall`y be '� e.xecuted and auth.en.�ica.te.d. by �he printe�d;� lithographed or engraved � - �' facs�.mile signature�' a�' �said Mayo�r, and Clerk, When so� execute.d, ' > � �he 'bonds sh�:ll be 'del'ivered.; by the Treasurer �o: the .purchaser _ ��hereof, upon� payment� .of the purchase..pri,ce: heretofore agreed� upon,• - �,, and- said purchaser sha�1. no� .be:-:obliga�ed �a. see� to the� application � . . � of th.e 'purchase ''price'. ' . � �. } - ' _ �` , , - . , ' ` - _6. � The :fu11 faith 'and c�edi� ,of the Village .shall be." and .:are hereby pledged to �h.e prompt�and full payment of said bonds and the inte,rest the'r.eon, It' :is �.her.eby: fou.nd and dete,rminec3: �hat the -- � . Village has� hereto.fore. levied: special assessmen.ts upon praperty , � �, - beriefite�d by �said improverrient 'in the `amiaunt of $ � • - � , of ° ��• _ whzch $ principal amount remains�uncollec�ed. Said assess- ments are payabl.e �in equal annual a.nstal�mert�s �.n the years 1972 , ..� • " �hrough�'1.9 , �;with -interes'c .a�C .th.e .ra�e. .of - � •� � .per annum on � . unpaid installmer7.ts.� In the :even.t �ha� �any-assessmen�s �lev.ied far _ ` � said improvemen� be at ariy �.ime� held in.valid with 'respect .to any � •. .` � 14�,. piece. ar parcel' of Iand, due '�a any er.ror,, defec.t :or irregu- � ` 1.ari�y,. in any aciion or proceedings taken or to be taken. by. �he � Village or this Cauncil ordany �of �h.e Village's officers or employee.s, , either in the inaking of such �asse�ssment �or� in �he .performance of any •� �� condition precedent �t.hereto, the: Village an.d this Council her.eby � covenan� and agree.�hat they will°for�hwith d.o all such further ' '- . . acts �and take al1 such fur�her; pr.oceed�ings as may be required by ].aw ' ta make .such`assessment a valid and bind.ing�lien upon such proper�y. - - . � 7.� I� .is her,eb�y. est'imated: that the collecti.ons �of said � . = assessment.s and- interes� -th�r:ean wa:ll �prov,ide 'amoun�s. not .less than � � 10:5:��of� th:e principal of� and inte.res�t on said bo`nds as they. be.come due . - _ � -' - ` . - ._ 4 Y r,". f r �k_ � ' : q � ' Y s _ ..�. . � ' . .. � ; , ' ., � - �y- � .°�, `'� r. �8. �'The- �C1erk 'is� �hereby direc�e.d-�o f�le a certa.fied capy . . , af �his 'res'alutidn witYi��the-�County, Auditor of Dakata Goun�y� �and ta. , , �,ab�aa.n said Auditorts. certifica�e in accordance wi.�h Min.nesota - � � . a�at'u.'�e�;,�=yS�e'ctians ��4�7.5:: 61 through .475 • �3;. and_ �he 'off:i.cers of th.e � . ' Village� and Caunty''are' he:reb.y .authorize.d and direc�e.d. �o ,furnish � ' �o the .purchaser. of said borids, and to �he �at�orney.s approving ..the ` ' , 1.egal.ity. thereof, certified: copies 'of all �ardinances, res'alutions - and ather actions and proce�edings of .the `V�11age :relating ta �he . � . issuance of said-bonds, and cer.tifica�es'and affidavi�s. as to all , ' su�ch o�her ma�te.r.s as may be: �requ�ired by them. �a ev�den.ce the legal- . ity and market.abili�y •of said bonds; �and a11 sucYi cer�ified capies, ' cer�zficates and affidavits,��including any heret�ofore .furnished, �shall be. deeined rec'itals� �of. the:. Vi'1,lage 'of Mendota Height's as ico , ` �� the correctness of all sta�'errie.nts. can.tained thereiri. � : � . , , -8y - �: . ' �ti�*f' - � • � . � ' ` . ` ' . f ' ,� - , ` . - � 4 a • r • . � : . . 4 ..- � ' . ' ' .` . . . . - - - . � . � ' , �' g. When. all bcinds issued pursu.ant �o. this �eso�lution, . and '. , , � all.coupans appertaining .thereta, have been discharg.ed as provided -, �- in this section, all pledges',� covenants. and other righ�sa gran.ted by � t.� ' �- thls :resolut�.on ta the hciTders_ of the bonds shall� cease. �'lie Village _�� y may �da.scharge .all bonds and 'co'upons wh"ich "are :due an any. date. by �. � . , - depositing� with �th°e pay�.ng a�en� 'or agents for such bonds on or be,fore . _ -that da�e a su.m� suff3.cierit for �he payment- �hereof in full; or .if � • ` any_bond or coupon. shauld�not be paid when due, i� may neve`r�hel'es� ,. � be discharged by depositing with �the' paying agent a sum suf fica.ent ' , ,.� for the payment �hereof �,n fu1.1 with..`in�eres't accrued to the. date. af -, " ' such deposit.' The�Village may_al,so diseharge any prepayable bonds._�� according'to�their terms,'by�depositing with the paying agent or �- , - agents �on or before �hat. da�� .an amaunt� equaZ ta the -principal, in�er- �. est and -rredemption premium,s�� if any,� wYi'ich 'are then due, provided that ,� •'`°notice��of' such� �edemption=`ha� beeri duly �given as provided here�,n.. ._- � �� Th`e `V'illage may also at' any '�ime .discharge any a,ssue of such- barids � in. its _ en.�i.rety;-� s.ub,j.ect.�;t�o� the 'provi�ions of law now or -hereafter •-. - ' � �au.thorizing :arid re.gulati,ng �such action;� by calling alI prep:ayable �• ' �, �,'"bo`'xids �of` such � isSue.`.for =s�e.cl�.emption on the next"'date when they may be . .:-_ prep'aid "in accordance wi�h _�th.ei:r terms, by givir�g �he. nati.ce .required �. °� for4 s.uch,°r-'edemp�ti;ori;''anc3.�by. depasiting irrevocably- in escrow,� with� a -" � ; bank':qual�.fied.-by'�Iaw`.as an escr'ow agen� for this purpose',' cash or ' ��secur�.ties which are�,gerie.r.al obli�ga�-a:onS .�of the' Uni�ed Sta�es or � � � securities' ��of. Uni�ed Sta�es_ �agenc.ies ��vhich ,are :au�horiz.ed ,by. law to � , - be :so deposi�ed bearing inter.es� .payabl.e .at such times and. at �uch ' rates and ma�uring on� _such� dates as shall be. required to� pay al1 przn- .. - cipal, in�erest ° and red�eznpti'.an premzums, �if any, -to bec'ome. due on all•: -_ , - - , .bonds of �h.ei :issue on and before 'saidY� redemption da�e�. _ ° , � � s Th.e mo�ion for t.he adoption of the foregaing .resolut�.on was � .'- duly �econded by �Member ��Blair " � , `and upon vote being -taken - therean, the following .vote�d in� f avar thereof :' �� . „ and th.e follawing vo�ed. against .%he same: _ -`--• - T whereupon said resolu.tion wa`s �de.c.lared duly passed'.and� adopted.. � � , • The' �Mayor �hen .dec:l�ared' that ,this was also the time, date - ' - . and place. �fixed -by reso3ution of the .Counci"1 adapted on March 7, � � ;� f ' 1972,+ •,for the receipt �af bi:ds for �he purchaae of $�$0,:000 Park Bonds , ' 4f '1972.4f �he Va.11age.. ,� ' • ' - . � - . . - � . � The Gler.k �annaunce'.d�. that- bids had been rec'e�.ved for �' , , �" �: , . _ � - < � - , - - _ -�. the purchase of°�said bonds•in compliance with.the published advert�se� , . - . . , . . - . . � . ment �for bids, which we.re �opened ana: four�a �o be .as follows': ` � ` � _ . ' .� ;� • , - . . . - � , _ . _�_ , . , - , . ; . , . � .. - � • - m . �� s�v'.S��i .�5.,�','c_'"�' �- �"�tYt�f '�','"�^'. ',.^ :'-� , i.T'r' .t . : � ;' ,s.�`.'�..- .�7� . t�Li.' • . � ��`�y�� :�°�u� ,�.� Y.�� .� ; � r.vl.. ra. ��' i t.�u -..Ly, ..w.•�.�. � _ $480,000 Park Bonds Village of Mendota Heights Sold: April 4, 1972 BIDS RECEIVED First National Bank St. Paul, Minn. First National Bank Minneapolis, Minn. Cherokee State Bank St. Paul, Minn. �era?� ^.e°r 'g+�' �.w� ac..i..�r:nr�ar��r.s� ��»+4,�a';�'�`se� ;�� .�z�. :�, ti _ ,� ,,. � ,.A;F�r _ A�, �, _ '..u1 �� f'�„P*.��Tsz^+� M- -r1�. y �� "a.." ,..� T. �.. � + •4�1 `'"''- - -'._ yc� . f "_. , ..� ,�s\:� _.. � _' _ .... �c" American Natl. Bank & Trust Co. St. Paul, Minn. Paine, Webber, Jackson & Curtis Boston, Mass. Juran & Moody, Inc. St. Paul, Minn. E. J. Prescott Minneapolis, Minn. Merrill,Lynch,Pierce,Fenner & Smith, Inc. Minneapolis, Minn. L�_.�, Kalman & Quail Minneapolis, Minn. Piper, Jaffray & Hopwood rtinneapolis, Minn. A1lison-Williams Minneapolis, Minn. Banc Northwest ' - Tfinneapolis, Minn. � 4Ri'^^'i�'; .. .=g =.t t� _.,,r ,."�' 't'��'�'i^f 'n.''7 ;,.�;�- - :k�..�Ji� • ., ;�i�e.i.�•,+�` .:v�� %: ". r�`; ��aw.��'Ck;ao�, `.y .�� .. . . _ _ .�:.��, _ {� Year Coupons Discount $ Percent 1974/1980 4 1/2% $5,000 369,443.75 5.4772� 1981/1985 5.1% 1986/1988 5.4% 1989 • 5.5% 1990 5.6% 1991/1992 5.7% 1974/1981 1982/1985 1986/1987 1988/1992 1974/1979 1980/1981 1982/1984 1985 1986/1987 1988/1992 1974/1976 1977/1981 1982/1984 1985/1987 1988/1989 1990/1992 4.8% $4,842 5.3% 5.4% 5.6% ' 4 1/2% 4.9% 5.1� 5. 3% 5 1/2% 5.7% 4% 5%- 5 1/4% 5 1/ 2% 5.6% 5 3/4% REOFFERING SCALE $5,000 $4,320 372,147.00 375,100.00 377,422.50 5.5173% 5.56115% 5.595% 1974 - - - 3.50% 1979 - - - 4.40% 1984 - - - 5.00� 1989 - - - 5.50% 1975 - - - 3.75% 1980 - - - 4.40� 1985 - - - 5.10% 1990 - - - 5.60% 1976 - - - 4.00% 1981 - - - 4.65� 1986 - - - 5.20% 1991 - - - 5.70% 1977 - - - 4.10% 1982 - - - 4.80% 1987 - - - 5.30% 1992 - - - 5.70% 1978 - - - 4.25% 1983 - - - 4.90� 1988 - - - 5.40% WE DO NOT GURRANTEE YHE FlDOVE STRTEMENTS, BUT THEY HRVE BEEN OBTi11NED FROM SOURGES WE DELIEVE TO BE RELIRBLE ,?`•.,. .`, .- . .�" ^ .' a �'�.�'� _ .a. •�,,,.-��=k•�'J^ if_: 'v'� • •..: _ 4, .a-u �: ` r, - - i� . �:a_s;"r�„r'�",','; '`�i° + �. � < ,r ,��Y� � �' � % rt �'�'_� �' � �'a—�..�; �':;� 8?t�Ykg�';"' ,� ,. ;�' D, .,:�.: f e�' _�� `�.'t�`�:Y,,• ' �� t.�` � .�4•', '". y y� � _ _ �w' . �e " � �: ��% �. � ,� �,.• '�;�- ""�, r.. - - , y, i: � - � ' � �� _ . ... ... ,. . �� .. � . � . . . ., ''-;r :., • � #+r-:d'f � .:,{:.r . ,t ` ,.m . -�-.�`�_..s R . ,.r,..r r �.�. -::+�� r ''� r� 'i.. .t. 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