06-23-1997 Council Packet - Laserfiche WebLink

Home Browse Search

r During such time as this Bond is registered in the name of Cede & Co as nommee of Deposito^ Trust Company ("DTC"), the method of payment, notice of ’ redempUon and certain other matters are subject to the terms of a Blanket Letter of epr^ent^ons executed by the City and DTC prior to the date of issuance of the Bonds as such Blanket Letter of Representations may be amended from time to time. «1 7/^0 nan 1® aggregate principal amount of $1,760,000, all of like date and tenor except as to maturity, interest rate and redemption privilege issued pursuant to and in full conformity with the Constitution and Laws of the State of Mmnesota, mcluding Chapter 429, Minnesota Statutes, for the purpose of providing unds for various sewer and water improvements identified in the Resolution described below ^d to Bond IS payable primarily from taxes levied and special assessments levied or to be le^ed from its Improvement Bonds of 1997 Fund, but this Bond constitutes a general obligation of the City , r.d to provide moneys for the prompt and full payment of said principal and mterest as the same become due the full faith and credit of the City is hereby irrevocably p edged, Md the City will levy additional ad valorem taxes on ail taxable property in the City if required for such purpose, without limitation as to rate or amount. . ^ provided by the Resolution of the City Council authonzmg the issuance of the Bonds of this series adopted June 23, 1997 (the “Resolution”) only upon books of the City kept at the office of the Bond Registrar by the Registered Owner hereof m person or by the Registered Owner’s duly authorized attorney, upon surrender of to ond for transfer at the office of the Bond Registrar, duly endorsed by, or accompanied by a Witten mstmment of transfer in form satisfactory to the Bond Registrar duly executed by the Registered Owner hereof or the Registered Owner’s duly authorized attorney, and, upon payment of any tax, fee or other governmental charge required to be paid with respect to such transfer, one or more fully registered Bonds of the series of the same principal amount maturity and interest rate will be issued to the designated transferee or transferees. The Registered Owner of this Bond may be treated as the absolute owner hereof for all purposes. The Bonds ofthis series are issuable only as fully registered bonds without coupons m denommations of $5,000 or any integral multiple thereof not exceeding the pru'.cipd amount maturing in any one year. As provided in the Resolution and subject to certam limitations therein set forth, the Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series of a different authorized denomination as requested by the Registered Owner or the owner’s duly authorized attorney upon surrender thereof to the Bond Registrar. -6-