HomeMy WebLinkAboutCity Council Resolution 1976-730Mr W
EXTRACT OF MINUTES OF MEETING OF THE
CITY COUNCIL OF THE CITY OF PLYMOUTH
HENNEPIN COUNTY, MINNESOTA
Pursuant to due call and notice thereof, a special.
meeting of the City Council of the City of Plymouth, Minnesota,
was duly held in the Council Chambers at 14900-C 23rd Avenue
North, in said City on Monday, the 13th day of December, 1976,
commencing at 7:30 o'clock P.M.
The following Councilmen were present:
and the following were absent:
Mayor Hilde introduced the following
resolution and moved its adoption:
RESOLUTION NO. 76-730
RESOLUTION RELATING TO $4,075,000
GENERAL OBLIGATION TEMPORARY
JMPROVEMENT BONDS OF 1974:
AUTHORIZING CALLING SAID BONDS
FOR REDEMPTION
WHEREAS, This Council has issued and sold the $4,075,000
General Obligation Temporary Improvement Bonds of 1974 of the City,
(the "Temporary Bonds"), pursuant to Minnesota Statutes, Section
429.091, Subdivision 3, and
WHEREAS, the Temporary Bonds are subject to call for
redemption on February 1, 1977, and any date thereafter, and
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WHEREAS, the City has issued and sold its $4,075,000
General Obligation Improvement Bonds of 1976, and its $2,790,000
General Obligation Water Revenue Bonds of 1976, and has provided
in said issues and the authorizing resolutions therefor, dated
June 18, 1976, adequate sums to provide definitive financing
for the Temporary Bonds; and
WHEREAS, the Council hereby finds and determines that
it is necessary and expedient for the sound financial management
of the City to call the Temporary Bonds for redemption on
February 1, 1977:
NOW, THEREFORE, BE IT RESOLVED By the City Council of
the City of Plymouth, Hennepin County, Minnesota, as follows:
1. The $4,075,000 General Obligation Temporary Improve-
ment Bonds of 1974, of the City dated August 4, 1974, are hereby
called for redemption on February 1, 1977.
2. The City Clerk is authorized and directed to publish
notice of call for redemption at least thirty days prior to
February 1, 1977, in the manner required by law. The notice of
call for redemption shall be in the form set forth in Exhibit "A"
attached hereto and made a part hereof by reference.
The motion for the adoption of the foregoing resolution
was duly seconded by Councilman Neils , and upon vote
being taken thereon, the following voted in favor thereof:
Mayor Hilde, Councilmen Hunt, Neils, Seibold and Spaeth,
and the following voted against the same: None.
whereupon said resolution was declared duly passed and adopted.
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
CITY OF PLYMOUTH )
I, the undersigned, being the duly qualified and acting
Clerk of the City of Plymouth, Minnesota, hereby certify that I
have carefully compared the attached and foregoing extract of
minutes of a special 11 meeting of the City Council of said City
held on December 13, 1976, lith 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 t:p resolution relating
to $4,075,000 Tetuporary Improvement Bonds of 1974, authorizing
calling said Bonds for redemption.
WITNESS My hand officially as such Clerk and the seal
of the City this 14th day of December, 1976.
City Cler
City of Plymouth, Minnesota
(SEAL)
EXHIBIT "A"
NONCE OF CALL FOR
REDEMPTION
$4,075,000 GENERAL OBLIGATION
TEMPORARY IMPROVEMENT BONDS OF 1974
CITY OF PLYMOUTH, MINNESOTA
(HENNEPIN COUNTY)
NONCE IS HEREBY GIVEN, that by order of the City
Council of the City of Plymouth, Hennepin County, Minnesota,
there have been called for redemption on
February 1, 1977
outstanding bonds of the City designated as General Obligation
Temporary Improvement Bonds of 1974, dated August 1, 1974, bearing
serial numbers 1 through 815, inclusive, bearing stated maturity
dates of August 1, 1977, and totalling $4,075,000 in principal
amount. The bonds are being called at a price of par plus accrued
interest to February 1, 1977, on which date all interest will cease
to accrue. Holders of the bonds hereby called for redemption are
requested to present these bonds for payment with subsequently
maturing interest coupons attahced at the American National Bank
and Trust Company, in the City of St. Paul, Minnesota, nn or
before February 1, 1977.
Dated December 13, 1976.
BY ORDER OF THE CITY COUNCIL
_s/ Loretta Garrity
-' City Clerk