HomeMy WebLinkAboutCity Council Resolution 1991-765Extract 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 Council
of the City of Plymouth, Minnesota, was duly held in the City Hall in the City
of Plymouth, on December 2nd 1991, commencing at 7:00 p.w.
The following members were present:
Mayor Bergman, Councilmembers Helliwell, Ricker, and Vasiliou
and the following were absents
None
Member RirkPr introduced the following resolution and moved its
adoption:
RESOLUTION NO. 91-765
RESOLUTION PROVIDING FOR THE PREPAYMENT AND
REDEMPTION OF CERTAIN OUTSTANDING
GENERAL OBLIGATION BONDS OF THE CITY
BE IT RESOLVED By the City Council of the City of Plymouth, Hennepin
County, Minnesota, as follows.
1. The City has issued and sold the following issues of general
obligation improvement bonds pursuant to Minnesota Statutes, Chapter 479:
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final
Original
Date of
Balance
Next "am ft
Amount
Bonds
Outstanding
Cali Date Date
$5,900,000
9/1/1980
$390,000
3/1/1997 3/1/3996
$4,900,000
4/1/1984
$825,000
4/1/1997 411/199
$8,900,000
4/1/1985
$4,900,000
4/1/1997 4/1/1995
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PLIOO-119
Resolution No. 91-765
(the various issues of bonds described above are sometimes referred to in this
resolution as "the Bonds" or "the Series of Bonds").
2. it is determined that it is in the best interests of the sound
financial management of the City that each series of Bonds be redeemed and
prepaid on the next ensuing call date and each series of Bonds are called for
redemption and prepayment on their respective next ensuing call date.
3. The Clerk is authorized and directed to publish, in accordance with
law, a notice of call for redemption of the Bonds in the form attached hereto as
Exhibits A through C inclusive and to mail a copy of the notice to the paying
agent or registrar for each Series of Bonds and to the original purchaser of each
Series of Bonds.
The motion for the adoption of the foregoing resolution was duly seconded
by member Helliwell , and upon vote being taken thereon, the following voted
in favor thereof:
Mayor Bergman, Councilmembers Helliwell, Ricker, and Vasiliou
and the following voted against:
None
whereupon said resolution was declared duly passed and adopted.
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lL100-119
STATS 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, do hereby certify that I have carefully compared the
attached and foregoing extract of minutes of a regular meeting of the City
Council held on December
2nd , 19_1, with 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 the prepayment and redemption of Various
General Obligation Bonds of the City.
WITNESS My hand as City Clerk and the corporate seal of the City this
day of December ;,__, 19_2)
City Clerk
City of Plymouth, Minnesota
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n100-119
EXHIBIT A
NOTICE OF CALL FOR REDEMPTION
$5,900,000 GENERAL OBLIGATION IMPROVBlaNT
BONDS OF 1980
CITY OF PLYMOUTH, MINNESOTA
Notice is hereby given that by order of the City Council of the City of
Plymouth, Minnesota, there have been called for redemption and prepayment on
MARCH 1, 1992
all outstanding Bonds of the City designated as General Obligation Improvement
Sonde of 1980, dated September 1, 1980, and having stated maturity dates of March
1 in the years 1993 through 1996, both inclusive, totaling $300,000 in principal
amount and bearing serial numbers 1121 to 1180, both inclusive, and with CUSIF
numbers as shown below:
Year of Maturity CUSIP
1993
729773 PT2
1994
729773 P09
1995
729773 PV7
1996
729773 PNS
The Bonds are being called at a price of par plus accrued interest to March 1,
1992 on which date all interest on the Bonds will cease to accrue. solders of
the Bonds hereby called for redemption are requested to present their Bonds for
payment with coupons attached at Norwest Bank Minnesota, rational Association
(successor to Northwestern National Bank of Minneapolis), paying agent, in the
City of Minneapolis, Minnesota, on or before March 1, 1992.
Bondholders presenting Bonds and coupons for payment crust inclYde their taspaY4r
identification number to award withholding under the Interest and oivLdend
Compliance Act.
BY ORDER OF TKB CITY COUNCIL
/s/ Laurie Rauenhorst
City Clank
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EXHIBIT B
NOTICE OF CALL FOR REDEMPTION
$4,900,000 GENERAL OBLIGATION IMPROVEMENT
BONDS OF 1984
CITY OF PLYMOUTH, MINNESOTA
Notice is hereby given that by order of the City Council of the City of
Plymouth, Minnesota, there have been called for redemption and prepayment on
APRIL 1, 1992
all outstanding Bonds of the City designated as General Obligation Lprovement
Bonds of 1984, dated April 1, 1984, and having stated maturity dates of April 1
in the years 1993 and 1994, totaling $325,000 in principal amount and with CUSIP
numbers as shown below:
Year of Maturity CUSIP
1993 729773 SC6
1994 729773 SW
The Bonds are being called at a price of par plus accrued interest to April 1,
1992 on which date all interest on the Bonds will cease to accrue. solders of
the Bonds hereby called for redemption are requested to present their Bonds for
payment at Norwest Bank Minnesota, National Association (successor to
Northwestern National Bank of Minneapolis), paying agent, in the City of
Minneapolis, Minnesota, on or before April 1, 1992.
Bondholders presenting Bonds and coupons for payment must Include their taxpayer
identification number to award withholding under the Interest and DLVLdeed
Compliance Act.
BY ORDER OF THE CIT! COUNCIL
/s/ Laurie Ratie-Aarst
City Clark
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EXHIBIT C
NOTICE OF CALL FOR REDEMPTION
$8,900,000 GENERAL OBLIGATION IMPROVEMENT
BONDS OF 1985
CITY OF PLYMOUTH, MINNESOTA
Notice is hereby given that by order of the City Council of the City of
Plymouth, Minnesota, there have been called for redemption and prepayment on
APRIL 1, 1992
all outstanding Bonds of the City designated as General Obligation Improvement
Bonds of 1985, dated April 1, 1985, and having stated maturity dates of April 1
in the years 1993 through 1995, both inclusive, totaling $3,650,000 in principal
amount and with CUSIP numbers as shown below:
Year of Maturity CUSIP
1993 729773 SO2
1994 729773 S77
1995 729773 S93
The Bonds are haing called at a price of par plus accrued interest to April 1,
1992 on which date all interest on the Bonds will cease to accrue. Solders of
the Bonds hereby called for redemption are requested to present their Bonds for
payment at Norwest Bank Minnesota, National Association (successor to
Northwestern National Bank of Minneapolis), paying agent, in the City of
Minneapolis, Minnesota, on or before April 1, 1992.
Bondholders presenting Bonds and coupons for payment must include their taxpayer
identification number to award withholding under the Interest and Dividend
compliance Act.
BY ORDER OF TSE CITY COUNCIL
/s/ Laurie Rauenhorat
City Clerk
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