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�; � �� � ��' ITY of O :. O C ORONO ,� ;�T� RESOLUTION OF THE CITY COUNCIL a! ' �3 � ,� ' �, .a�� , NO.� � � . : ti, ��9� Og�G ESS � RESOLUTION CALLING FOR THE REDEMPTION OF � $150,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1980 WHEREAS, the City Council of the City of Orono, Minnesota, issued � $1,100,000 GENERAL OBLIGATION IMPROVEMENT BONDS datedDecember 1, 1980;and WI�REAS, Bonds maturing in the years 1991 through 1996 �are subject to redemption and prepayment at the option of the City on March 1, 1990 and any interest payment date thereafter at a price of 101% of par plus accrued interest, as provided in the resolution of the City Council dated November 12, 1980, authorizing the issuance of the Bonds; and WHEREAS, the City Council deems it desirable and in the best interests of the City to call Bonds totalling$150,000 in principal amount(those Bonds due in the years 1995 and • 1996), on March 1, 1994, in accordance with the resolution; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Orono, Minnesota, as follows: 1. Redemption. Bonds totalling$150,000 in principal amount, due in the years 1995 � and 1996, shall be redeemed and prepaid on March�1, 1994 at 101% of par, plus accrued interest for each such Bond called. 2. The City Cl�rk is hereby authorized and d'uected to give mailed and published notice of call at least 30 days prior to March 1, 1994. Said notice shall be in substantially the form hereto attached. 3. Deposit of Funds. The City Clerk 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. Adopted by the Orono City Council on this 22nd day of November, 1993. . A ST: Edward J. Callahan, Jr., Mayor � � Dorothy M allin, City Clerk . � , • • � . - . - .. . FamSWSDiskOmm ..-..-_...r-.u-^,a..r;'^.r-.._.; _,.. ,.^,S.?F:.T;'.: ., -'.. ...._ ....v "T..' .... . :. . �- ' . . _ . .. .. � t:-`..._--n.,�+c-.�..�,.,'-o-c-r*t-^.--"•..•---•�- . u . ..