Loading...
HomeMy WebLinkAboutCity Council Resolution 1980-476.r 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 regular meeting of the City Council of the City of Plymouth, Hennepin County, Minnesota, was held at the City Hall in said City on Monday, July 21, 1980, commenc- ing at 7:30 o'clock P.M. The following members were present: Mayor Hunt, Councilmembers Davenport, Neils, Schneider and the following were absent: Councilmember Hoyt '.Y.rk The following resolution was presented by Councilmember Davenport who moved its adoption: RESOLUTION NO. 80- 476 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $6,660,000 GENERAL OBLIGATION BONDS OF 1980 consisting of $5,900,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1980, $385,000 GENERAL OBLIGATION STORM SEWER BONDS OF 1980, AND $375,000 GENERAL OBLIGATION WATER AND SEWER REVENUE BONDS OF 1980. BE IT RESOLVED By the City Council of the City of Plymouth, Hennepin County, Minnesota as follows: • I. $6,660,000 General Obligation Bonds of 1980. 1. It is hereby determined: (a) That the following assessable public improvements (the "Improvements") have been made, duly ordered or con- tracts let for the construction thereof, by the City pursuant to the provisions of Minnesota Statutes, Chapter 429: Project Number Ero ject Name Estimated Cost 002 Vicksburg -Hwy 55 -Co. Rd. 6-Str./Util. $1,574,778 004 55th Av-Nathan-W. Cul-de-sac - Str/Util. 146,301 005 Larch Cul-de-sac N. Co. Rd. 9 - Str./Util. 106,680 006 Empire-Plym. Frwy. Ctr. 2nd Add. - Str. 47,752 007 10th Ave -Nathan -W1320 Ft. - Str/Util. 345,429 008 Pike Lk. Dist. 2/3-Interc. San. Sewer 358,642 009 Harbor - San. Sewer Ext. S.L.P. Med. 18,288 010 New Co. Rd. 9 - Vicksburg - Watermain 88,392 013 Faber Pl. Add. Str/Util. 159,506 022 Amhurst - 2nd Add. - Str. 149,548 904 49th Av. Nathan to Zachary 369,409 917 Baldwin Chev. - Storm Sewer 36,575 920 Turtle Lake - Area Sewer 1.013,952 925 Criterion MPD - Str/Util. 1,032.640 925-001 Criterion MPD. Fox Glen II - Str/Util. 148,329 933 18th Av. Watermain - Co. Rd. 18 - E. Med. Lk. 99,568 943 Schiebe Business Park 69,086 944 Windsong Addition 33,529 950 Intersec. Co. Rd. 6 b Vicksburg 101,596 $5,900,000* *Includes 92,800 for bonds issued pursuant to M.S. Section 475.56 (allowance for discount bidding) (b) That it is necessary and expedient to the sound finan- cial management of the affairs of the City to issue $5,900,000 General Obligation Improvement Bonds of 1980, (the "Improvement Bonds") to provide financing for the Improvements. 2. It is hereby determined and recited: (a) That the following storm sewer improvements (the "Storm Sewer Project") have been initiated in cooperation with the City of Golden Valley, Minnesota, and the Bassett Creet Watershed Commission for the benefit of the City's duly created Storm' Sewer Improvement Tax Dis- trict No. 1 (Bassett Creek): Project Designation & Description Total Project Cost 929 Bassett Creek Project #1 $385,000* TOTAL $ 385,000 ; *Includes bond discount and capitalized interest. (b) The City has, pursuant to Minnesota Statutes Sections 444.16 to 444.21, established Storm Sewer Improvement Tax District No. 1, and has, pursuant to Laws 1979, Chapter 303, Section 15, duly adopted a -capital improvement program for said District, of which program the abovementioned Storm Sewer Project is a part; (c) That contracts for part or all of the construction of the aforesaid improvemens have been or will be let; (d) That it is necessary and expedient to the sound finan- cial management of the affairs of the City to issue $385,000 General Obligation Storm Sewer Bonds of 1980, (the "Storm Sewer Bonds") pursuant to Minnesota Sta- tutes, Section 444.16, et sem. to provide financing for the Storm Sewer Project; and (e) That the City has held, or will hold prior to the issuance of the Storm Sewer Bonds, a public hearing on the Storm Sewer Project in accordance with Minnesota Statutes, Chapter 429. 3. It is hereby determined and recited: (a) That the City of Plymouth owns and operates a water and sewer system; and (b) That the City Engineer has recommended improvements and extensions of the water and sewer system (the "Water and Sewer Project") as follows: Well No. 6 -- boring, casing, pumping, equipment installation, design and all other fees, including legal, fiscal and administrative $243,000 Remodeling and expansion of city utility building 125,000 368,000 Plus bonds issued pursuant to M.S. Sect. 475.56 7,000 _f3 .30 (c) That the Council determines that it is necessary to make the foregoing Water and Sewer Improvements; (d) That it is necessary that the City borrow $375,000 to pro- vide for construction, engineering, fiscal and legal expenses and to provide interest during construction; (e) That it is necessary to provide the required amount by the issuance and sale of $375,000 General Obligation Water and Sewer Revenue Bonds of 1980 (the "Water and Sewer Revenue Bonds") to be payable out of sewer and water revenues; and (f) That the City is authorized under the provisions of 11-1inne- sota Statutes, Section 444.075, to issue revenue bonds for such purpose, with such bonds also supported by a pledge of the full faith and credit of the City and such bonds can be sold to provide necessary funds. 4. In order to provide financing for the Improvements, the Water and Sewer Project, and the Storm Sewer Project, the City shall therefore issue and sell Bonds in the amount of $6,555,200. In order to provide in part the additional interest required to market the Bonds at this time, additional Bonds shall be issued in the amount of $104,800. Any excess of the purchase price of the Bonds over the sum of S6,555,200 shall be credited, as determined by the City's fiscal consultant, Ehlers and Associates, to the debt service funds for the respective Bonds for the purpose of paying interest first coming due on the Bonds. The Bonds shall be issued and sold in accordance with the terms of the following Official Notice of Sale: OFFICIAL NOTICE OF SALE $6,660,000 General Obligation Bonds of 1980 cansisting of $5,900,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1980, $385,000 GENERAL OBLIGATION STORM SEWER BONDS OF 1980, AND $375,000 GENERAL OBLIGATION WATER AND SEWER REVENUE BONDS OF 1980. City of Plymouth Hennepin County, Minnesota NOTICE IS HEREBY GIVEN that sealed bids for the purchase of $6,660,000 negotiable coupon, general obligation bonds (the "Bonds") of the City, consisting of $5,900,000 General Obligation Improvement Bonds of 1980 (the "Improvement Bonds"), $385,000 General Obligation Storm Sewer Bonds of 1980 (the "Storm Sewer Bonds"), and $375,000 General Obligation Water and Sewer Revenue Bonds of 1980 (the "Water and Sewer Revenue Bonds") will be received until 7:00 P.M., C.T. on Monday, August 25, 1980 at which time they will be opened and tabulated. The City Council will meet at the City Hall in the City of Plymouth at 7:30 P.M., C.T. on the same day to consider the bids and award the sale of the Bonds on the following terms: Puraose and Securit The purpose of the Improvement Bonds is to finance various assess- able public improvements in the City; the purpose of the Water and Sewer Revenue Bonds is to finance various improvements to the City's water and sewer system; and the purpose of the Storm Sewer Bonds is to finance storm sewer improvements for the City's Storm Sewer Improvement Tax District No. 1 (Bassett Creek). Tt:e Bonds will be general obligations of the issuer, for which its full faith, credit and taxing powers are pledged. Date and Maturities The Bonds will be dated September 1, 1980, will be in denomination of $5,000 each and will mature on March 1 in the following years and amounts: Improvement Storm Sewer Water & Sewer Year Bonds Bonds Revenue Bonds Combined 1982 $630,000 $15,000 $15,000 $660,000 1983 620,000 15,000 15,000 650,000 1984 615,000 20,000 15,000 650,000 1985 635,000 20,000 20,000 675,000 1986 635,000 20,000 20,000 675,000 1987 485,000 20,000 20,000 525,000 1988 475,000 25,000 25,000 525,000 1989 475,000 25,000 25,000 525,000 1990 475,000 25,000 25,000 525,000 1991 465,000 30,000 30,000 525,000 1992 90,000 30,000 30,000 150,000 1993 85,000 35,000 30,000 150,000 Redemption Feature All Bonds of this issue maturing after March 1, 1990, will be subject to prior redemption at the option of the City in inverse order of serial numbers on said date and any interest payment date thereafter at a price of par plus accrued interest to date of redemp- tion. Interest Interest on the Bonds will be payable on March 1, 1981, and semiannually thereafter on each March 1 and September I. All bonds maturing on the same date must bear interest from date of issue until paid at a single, uniform rate, not exceeding the rate specified for bonds of any subsequent maturity. Each rate must be in an integral multiple of 5/100 of 1%, and no rate of interest nor the net effective averase rate of the issue may exceed 12% per annum. Paying Agent Principal and interest will be made payable at any suitable bank recommended by the purchaser and appro7ed by the Council, and the City will pay the customary charges for this service provided that such recommendation is received within 48 hours after the sale and the Council will select the paying agent if the recommendation is not approved. CUSIP Numbers The City will assume no obligation for the assignment or printing of CUSIP numbers on the Bonds or for the correctness of any numbers printed thereon, but will permit such numbers to be assigned and printed at the expense of the purchaser, if the purchaser waives any extension of the time of delivery caused thereby. Delivery Within 40 days after sale, the City will furnish and deliver to the office of the purchaser or, at his option, will deposit with a bank in the United States selected by him and approved by the City as its agent to permit examination by and to deliver to the purchaser, the printed and executed Bonds, the unqualified opinion thereon of bond counsel, and a certificate stating that no litigation in any manner questioning their validity is then threatened or pending. The charge of the delivery agent must be paid by the purchaser, but all other costs will be paid by the City. The purchase price must be paid 1994 80,000 35,000 35,000 150,000 1995 80,000 35,000 35,000 150,000 1996 55,000 35,000 35,000 125,000 $5,900,000 $385,000 $375,000 $6,660,000 Redemption Feature All Bonds of this issue maturing after March 1, 1990, will be subject to prior redemption at the option of the City in inverse order of serial numbers on said date and any interest payment date thereafter at a price of par plus accrued interest to date of redemp- tion. Interest Interest on the Bonds will be payable on March 1, 1981, and semiannually thereafter on each March 1 and September I. All bonds maturing on the same date must bear interest from date of issue until paid at a single, uniform rate, not exceeding the rate specified for bonds of any subsequent maturity. Each rate must be in an integral multiple of 5/100 of 1%, and no rate of interest nor the net effective averase rate of the issue may exceed 12% per annum. Paying Agent Principal and interest will be made payable at any suitable bank recommended by the purchaser and appro7ed by the Council, and the City will pay the customary charges for this service provided that such recommendation is received within 48 hours after the sale and the Council will select the paying agent if the recommendation is not approved. CUSIP Numbers The City will assume no obligation for the assignment or printing of CUSIP numbers on the Bonds or for the correctness of any numbers printed thereon, but will permit such numbers to be assigned and printed at the expense of the purchaser, if the purchaser waives any extension of the time of delivery caused thereby. Delivery Within 40 days after sale, the City will furnish and deliver to the office of the purchaser or, at his option, will deposit with a bank in the United States selected by him and approved by the City as its agent to permit examination by and to deliver to the purchaser, the printed and executed Bonds, the unqualified opinion thereon of bond counsel, and a certificate stating that no litigation in any manner questioning their validity is then threatened or pending. The charge of the delivery agent must be paid by the purchaser, but all other costs will be paid by the City. The purchase price must be paid i upon delivery of the bonds, or within five days after deposit with the delivery agent, in funds available for expenditure by the City on the day of payment. Legal Opinion An unqualified legal opinion on the Bonds will be furnished by Messrs_ LeFevere, Lefler, Kennedy, O'Brien & Drawz of Minneapolis, Minnesota. The legal opinion will be printed on the Bonds at the request of the purchaser. The legal opinion will state that the Bonds are valid and binding general obligations of the City and that the City is obligated and required to levy taxes for the principal and interest thereon as the same become due without limit as to rate or amount. Type of Bid - Amount Sealed bids must be mailed or delivered to the undersigned and must be received prior to the time of said meeting. Each bid must be unconditional and must be accompanied by a cashier's or certified check or bank draft in the amount of $133,200, payable to the City Clerk, to be retained by the City as liquidated damages if the bid is accepted and the bidder fails to comply therewith. The bid author- izing the lowest net interest cost (total interest from date of bonds to stated maturities, less any cash premium or plus any amount less than $6,660,000 bid for principal) will be deemed the most favorable. No oral bid and no bid of less than $6,555,200 for principal plus accrued interest on all of the Bonds will be considered, and the City reserves the right to reject any and all bids and to waive any infor- mality in any bid. BY ORDER OF THE CITY COUNCIL /s/ Loretta Garrity City Clerk Dated: July 21, 1980 5. The City Clerk is authorized and directed to advertise the Bonds for sale in accordance with the foregoing notice of sale and to cause the abbreviated notice of sale attached hereto as Exhibit "A", to be published in the manner required by law. The City Council shall meet on Thursday, August 28, 1980, at 7:30 o'clock p.m. for the pur- pose of considering sealed bids on the Bonds and taking any other appropriate action. II. $375,000 General Obligation Water and Sewer Revenue Bonds of 1980. 1. The Water and Sewer Revenue Bond% to be issued hereunder, and the interest coupons to be thereto attached, shall be in substantially the following form: No. $ 5,000 UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF HENNEPIN CITY OF PLYMOUTH GENERAL OBLIGATION WATER AND SEWER REVENUE BOND OF 1980. KNOW ALL MEN BY THESE PRESENTS That the City of Plymouth, Hennepin County, Minnesota, hereby acknowledges that it is obligated and, for value received, promises to pay to bearer out of its General Obligation Water and Sewer Revenue Bond Sinking Fund the sum of FIVE THOUSAND DOLLARS, on the 1st day of March, 19 , and to pay inter- est thereon out of said fund frog the date hereof until the principal sum is paid at the rate of interest to maturity payable March 1, 1981, and semiannually there- after on the 1st day of March and the 1st day of September in each year, in accordance with and upon presentation and surrender of the interest coupons hereto attached as they severally become due. Both principal and interest are payable at in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. All bonds of this issue maturing after March 1, 1990, are subject to redemption at the option of the City on said date and any interest payment date thereafter, in inverse numerical order, at par and accrued interest. This bond is one of an issue in the total principal amount of $375,000, all of like date and tenor except as to serial number, maturity, interest rate and redemption privilege, all issued for the purpose of providing money to aid in financing water and sewer system improvements, or parts thereof, as authorized by Minnesota Statutes, Section 444.075, and the principal thereof and interest thereon are payable primarily from the net revenues of the water and sewer system of the City in a special sinking funs] of the City, as set forth in Resolution 80-476 (the "Authorizing Resolution"), adopted by the City Council on July 21, 1980, and providing for the issuance and sale of $375,000 General Obligation Water and Sewer Revenue Bonds of 1980, to which Rescltuion reference is made for a full statement of rights and powers hereby conferred. The full faith and credit of the City is pledged for the payment of the principal of and interest on the bonds, and the City Council has obligated itself to levy ad valorem taxes on all of the taxable property in the City in the event of any defi- ciency, which taxes may be levied without limitation as to rate or amount. IT IS HEREBY CERTIFIED AND RECITED That in and by the Auth- orizing Resolution, the City has covenanted and agreed that it will continue to own and operate the water and sewer system free from competition by other like utilities; that adequate insurance on said and suitable fidelity bonds on employees will be carried; that proper and adequate books of account will be kept showing all receipts and disbursements relating to the Water and Sewer Utility Fund, into which it will pay all of the gross revenues from the water and sewer system and any special assessments levied for these improvements; that it will also create and maintain a General Obligation Water and Sewer Revenue Bond Sinking Fund, into which it will pay, out of the net revenues from the water and sewer system, a sum sufficient to pay principal hereof and interest hereon when due; and that it will pro- vide, by ad valorem tax levies, for any deficiency in net water and sewer revenues. IT IS FURTHER CERTIFIED AND RECITED That all acts, con- ditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and to be performed precedent to and in the issuance of this bond, have been done, have happened and have been performed in due form, time and manner as required by law. IN WITNESS WHEREOF, the City of Plymouth, Hennepin County, Minnesota, by its City Council, has caused this bond to be executed by the facsimile signatures of the Mayor and City Manager and sealed with a facsimile of the corporate seal of the City and the interest coupons hereto attached to be executed and authenticated by the facsimile signatures of said officers, except for the manual signature of its duly authorized authenticating agent on the reverse side of this bond, all as of September 1, 1980. (facsimile signature) Mayor (facsimile signature City Manager (facsimile city seal) 2._, (Form of Coupon) No. On the 1st day of March (September), 19 , the City of Plymouth, Hennepin County, Minnesota, will pay to bearer, out of its General Obligation Water and Sewer Revenue Bond Sinking Fund, at the amount shown hereon for interest then due on its General Obli- gation Water and Sewer Revenue Bond of 1980, dated September 1, 1980. (facsimile signature) MAYOR (Facsimile signature) City Manager 2. The City shall continue to operate its Water and Sewer Utility Fund to which shall be credited all gross revenues of the water and sewer system and out of which shall be paid all normal and reasonable expenses of current operations of the water and sewer system. Any balance therein shall be deemed net revenues and shall be transferred, from time to time, in sufficient amounts, to a General Obligation Revenue Bond Sinking Fund hereby created, which fund shall be used to pay the Water and Sewer Revenue Bonds issued hereunder and any other bonds similarly authorized. There shall always be retained in such fund an amount sufficient to pay principal of and interest on all bonds payable from said fund, and the City Treasurer shall report any current or anticipated defi- ciency in such fund to the Council. 3. The City Council covenants and agrees with the holders of the Water and Sewer Revenue Bonds issued hereunder that so long as any of said Bonds remain outstanding and unpaid, it will keep and enforce the following covenants and agreements: (a) The Cite will continue to maintain and efficiently operate the municipal water ,:,-.d sewer system as a public utility and conve:niencc: and will cause all revenues therefrom to be deposited in a bank account and credited to the Water and Sewer- Util- ity Fisnd as hereinabove provided, and will make no expenditures from said account except for a duly authorized purpose and in accordance with this resolution. (b) The City will also maintain a separate account for the General Obligation Water and Sewer Revenue Bond Sinking Fund and will cause money to be credited to said account, from time to time, out of net revenues from the water and sewer system, in sums sufficient to pay principal of and inter- est on all bonds issued hereunder when due. (c) The City will keep and maintain proper and ade- quate books of record and account separate from all other records of the City in which will be complete and correct entries as to all transac- tions relating to the water and sewer system and which shall be open to inspection and copying by any bondholder, his agent or attorney, at any reasonable time, and it will furnish certified transcripts therefrom upon request and upon pay- ment of a reasonable fee therefor, and said accounts shall be audited at least annually by a qualified public accountant and statements of such audit and report will be furnished to all bond- holders upon request. (d) The City Council will cause all persons handling revenues of the water and sewer system to be bonded i,n reasonable amounts for the protection of the City and the bondholders and will cause the funds collected on account of the operations of the water and sewer system to be deposited in a bank or banks whose deposits are guaranteed under the Federal Deposit Insurance Law. (e) The Council will keep the water and sewer system insured at all times against loss by fire, tornado and other risks customarily insured against, with an insurer or insurers in good standing, in such amounts as are customary for like plants, to protect the holders, from time to time, of the bonds issued hereunder and the City from any loss due to any such casualty and will apply the pro- ceeds of such insurance to make good any such loss. (f) The City and each and all of its officers will punctually perform all duties with reference to the water and sewer system as required by the laws of the State of Minnesota. (g) The City will impose and collect charges of the nature authorized by Minnesota Statutes, Section 444.075, at the times and in the amounts required to produce net revenues adequate to pay all prin- cipal and interest when due on the Water and Sewer Revenue Bonds and to create and maintain such reserves securing said payments as may be provided in the authorizing resolution. (h) The City Council will levy general ad valorem taxes on all taxable property in the City, when required to meet any deficiency in net revenues. 4. With respect to the Water and Sewer Revenue Bonds all the terms and provisions of this resolution shall be and constitute a covenant on the part of the City to and with each and every holder from time to time of said Bonds issued hereunder. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Schneider , and upon vote being taken thereon, the following voted in favor: Mayor Hunt, Councilmembers Davenport, Neils, Schneider and the following voted against: None (Councilmember Hoyt being absent) whereupon said resolution was declared duly passed and adopted. NOTICE OF SALE $6,660,000 General Obligation Bonds of 1980, consisting of $5,900,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1980, $385,000 GENERAL OBLIGATION STORM SEWER BONDS OF 1980, AND $375,000 GENERAL OBLIGATION WATER AND SEWER REVENUE BONDS OF 1980. City of Plymouth Hennepin County, Minnesota NOTICE. IS HEREBY GIVEN that sealed bids for the above bonds will be received until 7:00 o'clock P.M., C.T., on Monday, August 25, 1980, at which time they will be opened and tabulated. The City Council will meet at the City Hall in Plymouth, Minnesota at 7:30 o'clock P.M., C.T., the same day to consider the bids and award the sale of the Bonds. Dated September 1, 1980, the bonds will mature on March 1 in the years and amounts as follows: All bonds maturing after March 1, 1990, are subject to prior redemption on said date and any interest payment date thereafter at par plus accrued interest. Interest will be payable on March 1, 1981, and semiannually thereafter. Each rate must be in an integral multiple of 5/100 of 1% and no rate may exceed 12% per annum. Minimum price, $6,555,200. An unqualified legal opinion will be furnished by Messrs. LeFevere, Lefler, Kennedy, O'Brien & Drawz of Minneapolis, Minnesota. The purposes of the bonds are to finance various assessable public improvements, to finance storm sewer improvements, and to finance improvements to the City's water and sewer system, respectively. BY GADER OF THE CITY COUNCIL /s/ Loretta Garrity City Clerk Improvement Stora.. Sewer Water b Sewer Year Bonds Bonds Revenue Bonds Combined 1982 $630,000 $15,000 $15,000 $660,000 1983 620,000 15,000 15,000 650,000 1984 615,000 20,000 15,000 650,000 1985 635,000 20,000 20,000 675,000 1986 635,000 20,000 20,000 675,000 1987 485,000 20,000 20,000 525,000 1988 475,000 25,000 25,000 525,000 1989 475,0004 25,000 25,000 525,000 1990 475,000 25,000 25,000 525,000 1991 465,000 30,000 30,000 525,000 1992 90,000 30,000 30,000 150,000 1993 85,000 35,000 30,000 150,000 1994 80,000 35,000 35,000 150,000 1995 80,000 35,000 35,000 150,000 1996 55,000 35,000 35,000 125,000 $5,900,000 $ 385,000 $375,000 $6,66o,000 All bonds maturing after March 1, 1990, are subject to prior redemption on said date and any interest payment date thereafter at par plus accrued interest. Interest will be payable on March 1, 1981, and semiannually thereafter. Each rate must be in an integral multiple of 5/100 of 1% and no rate may exceed 12% per annum. Minimum price, $6,555,200. An unqualified legal opinion will be furnished by Messrs. LeFevere, Lefler, Kennedy, O'Brien & Drawz of Minneapolis, Minnesota. The purposes of the bonds are to finance various assessable public improvements, to finance storm sewer improvements, and to finance improvements to the City's water and sewer system, respectively. BY GADER OF THE CITY COUNCIL /s/ Loretta Garrity City Clerk STATE OF MINNESOTA ) COUNTY OF HEN'NEPIN ) SS. CITY OF PLVMOUTH ) I, the undersigned, being the duly qualified and acting City Clerk of the City of Plymouth, Minnesota do hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular meeting of the City Council of said City held on Monday, July 21, 1980, with the original thereof on file in my office and the same is a full, true and complete transcript thereof, insofar as the same relates to the issuance and sale of $6,660,000 General Obligation Bonds of 1980, consisting of $5,900,000 General Obligation Improvement Bonds of 1980, $385,000 General Obligation Storm Sewer Bonds of 1980, aria $375,000 General Obligation Water and Sewer Revenue Bonds of 1980 of the City. WITNESS My hand as such City Clerk and the corporate seal of the City this day of , 1980. City Clerk City of Plymouth, Minneso a (SEAL)