Res 2005- 88 Redemption of Outstanding Bonds of 1997EXTRACT OF MINUTES OF MEETING
CITY COUNCIL OF THE
CITY OF MENDOTA HEIGHTS, MINNESOTA
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 City Hall in Mendota Heights, Minnesota,
on Wednesday, October 5, 2005.
The following members were present: Mayor John Huber, Council Members Krebsbach,
Duggan, Vitelli and Schneeman.
and the following members were absent: None
Member Duggan introduced the following resolution and moved its adoption:
Resolution No. 05 -88
RESOLUTION CALLING FOR REDEMPTION OF OUTSTANDING:
GENERAL OBLIGATION REFUNDING AND IMPROVEMENT BONDS OF 1997,
DATED DECEMBER 1,1997
WHEREAS, the City Council of the City of Mendota Heights, Minnesota, issued on behalf of
the City of Mendota Heights, Minnesota $1,900,000 General Obligation Refunding and
Improvement Bonds of 1997, dated December 1, 1997 (the "Bonds of 1997 "), of which $615,000
still remains outstanding; and
WHEREAS, all of the Bonds of 1997 maturing in the years 2006 through 2013, both
inclusive, are subject to redemption and prepayment at the option of the City on August 1, 2005 and
on any Interest Payment Date thereafter at a price of par plus accrued interest, all as provided in the
resolution adopted by the City Council of the City of Mendota Heights, Minnesota on December 2,
1997, authorizing the issuance of the Bonds of 1997 (the "1997 Resolution "); and
WHEREAS, the City Council of the City of Mendota Heights, Minnesota deems it desirable
and in the best interests of the City of Mendota Heights to call those bonds maturing in the years
2007 through 2013, inclusive, totaling $615,000 in principal amount, on February 1, 2006, in
accordance with the 1997 Resolution; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mendota
Heights, Minnesota, as follows:
(1) All of the Bonds of 1997 maturing in the years 2006 through 2013, both inclusive,
totaling $615,000 in principal amount shall be redeemed and prepaid on February 1,
2006, at par, plus accrued interest.
(2) The City Clerk of the City of Mendota Heights, Minnesota is hereby authorized and
directed to give mailed notice of call, prior to February 1, 2006, for the Bonds of
1997, to the Bond Registrar/Paying Agent, Wells Fargo Bank, N.A. (formerly
Norwest Bank Minnesota, N.A.), in Minneapolis, Minnesota, and to all holders of the
Bonds. Said notice shall be substantially in the fowl shown as Exhibit A.
(3)
The City Clerk of the City of Mendota Heights, Minnesota is hereby authorized and
directed to deposit with the Bond Registrar/Paying Agent of the Bonds of 1997,
Wells Fargo Bank, N.A. (formerly Norwest Bank Minnesota, N.A.), prior to the call
date of February 1, 2006, 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
KrahGbarh
and upon a vote being taken thereon, the following voted in favor thereof: Mayor Huber,
Council Members Krebsbach, Duggan, Vitelli and Schneeman.
and the following voted against the same:
None
whereupon said resolution was declared duly passed and adopted.
Cl rk
Mayor
EXHIBIT A
NOTICE OF REDEMPTION
General Obligation Refunding and Improvement Bonds of 1997
Dated December 1, 1997
City of Mendota Heights, Minnesota
NOTICE IS HEREBY GIVEN that by order of the City Council of the City of Mendota Heights,
Minnesota, there have been called for redemption and prepayment on
February 1, 2006
the following outstanding bonds of the City designated as General Obligation Refunding and
Improvement Bonds of 1997, dated December 1, 1997:
Maturity Date Principal Amount Interest Rate CUSIP Number*
August 1, 2006 $80,000 4.50% 586770 M55
August 1, 2007 80,000 4.55% 586770 M63
August 1, 2008 80,000 4.60% 586770 M71
August 1, 2009 80,000 4.70% 586770 M89
August 1, 2010 80,000 4.80% 586770 M97
August 1, 2011 80,000 4.85% 586770 N21
August 1, 2012 80,000 4.95% 586770 N39
August 1, 2013 55,000 5.00% 586770 N47
The bonds are being called at a price of 100% of their principal amount plus accrued interest to
February 1, 2006, on which date they will cease to bear interest. Holders of such bonds hereby called
for redemption should present their Bonds for payment to Wells Fargo Bank, N.A. (formerly
Norwest Bank Minnesota, N.A.) at the address below, on or before February 1, 2006.
By Mail or Overnight Service: By Registered or Certified Mail: In Person, By Hand:
Wells Fargo Bank, N.A. Wells Fargo Bank, N.A. Corporate Trust Services -12th Floor
Corporate Trust Operations Corporate Trust Operations Northstar East Building
MAC N9303 -121 MAC N9303 -121 608 2nd Avenue South
6th Street & Marquette Avenue PO Box 1517 Minneapolis, MN
Minneapolis, MN 55479 -0113 Minneapolis, MN 55480 -1517
It is recommended that you mail your bonds registered or certified mail to guard against loss.
BY ORDER OF THE CITY COUNCIL
CITY OF MENDOTA HEIGHTS, MINNESOTA
/s/ Clerk
Dated: October 5, 2005
Important Notice: In compliance with the Economic Growth and Tax Relief Reconciliation Act of 2001,
federal backup withholding tax will be withheld at the applicable backup withholding rate in effect at the
time the payment by the redeeming institutions if they are not provided with your social security number or
federal employer identification number, properly certified. This requirement is fulfilled by submitting a
W -9 Form, which November be obtained at a bank or other financial institution.
*Neither the City nor the Bond Registrar/Paying Agent shall be responsible for the selection of or use of the CUSIP
number, and no representation is made as to its correctness indicated in the Notice of Redemption. CUSIP numbers are
included solely for the convenience of the Holders.
STATE OF MINNESOTA
COUNTY OF DAKOTA
CITY OF MENDOTA HEIGHTS
I, the undersigned, being the duly qualified and City Clerk of the City of Mendota Heights,
Minnesota (the "City"), hereby certify that I have carefully compared the attached and foregoing
extract of minutes of a regular meeting of the City Council of the City held on Wednesday, October
5, 2005, with the original minutes on file in my office and the extract is a full, true and correct copy
of the minutes, insofar as they relate to the redemption of certain General Obligation Refunding and
Improvement Bonds of 1997, of the City.
WITNESS My hand as City Clerk and the corporate seal of the City this 51 day of October,
2005.
(SEAL)
/(
rty Clerk
City of Mendota Heights, Minnesota