HomeMy WebLinkAboutCity Council Resolution 1995-722e
( CITY OF PLYMOUTH, MINNESOTA
RESOLUTION NO. 95 - 722
AUTHORIZING AND AWARDING THE
SALE OF, AND PROVIDING THE FORM, TERMS,
COVENANTS AND DIRECTIONS FOR $7,665,000
GENERAL OBLIGATION TAX INCREMENT BONDS
SERIES 1995B
BE IT RESOLVED BY TIRE CITY COUNCIL (THE "COUNCIL') OF THE
CITY OF PLYMOUTH, MINNESOTA (THE "ISSUER') AS FOLLOWS:
Section 1. Award of Sale: Terms of Bonds.
1.01 The Issuer intends to issue its $7,665,000 General Obligation Tax
Increment Bonds Series 1995B (the "Bonds") for the purpose of financing the
construction of public improvements within Development District No. 7 in the City of
Plymouth in accordance with Minnesota Statutes, Section 469.178, subd. 2.
In accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9),
the Issuer has retained an independent financial advisor and has determined to sell the
Bonds in a private negotiated sale and without advertisement for bids.
IM The Issuer hereby accepts the offer of Dain Bosworth Incoroorated
(the "Purchaser") to purchase the Bonds in accordance with the terms of this Resolution
at a price of $ 7,656.4,14.0 plus accrued interest to the date of delivery, the Bonds to
bear interest at the rates per annum as follows:
Year of Interest
Maturity &M
1997
4.00%
1998
4.00%
1999
4.10.
The City Finance Director is directed to retain the good faith check of the
Purchaser, if any, pending delivery of and payment for the Bonds.
1jQA The Issuer shall issue the Bonds in the aggregate principal amount of
$7,665,000 dated December 1, 1995, as filly registered bonds without coupons. The
Bonds shall be in denominations of $5,000 or any integral multiple thereof not exceeding
the principal amount of a single maturity, shall be numbered from R•1 upwards in order
( of issuance and shall bear interest at the rates set forth above, payable February 1, 1996,
and semiannually thereafter on each February 1 and August 1, and shall mature on
February 1 in the years and amounts as follows:
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Year Amount
1997
$29465,000
1998
21550,000
1999
2,650,000
Bonds issued in exchange for Bonds shall be dated as of the date of
authentication thereof and shall bear interest from the date to which interest due and
payable has been paid in full on the Bonds surrendered, except that Bonds issued upon a
transfer or exchange prior to the first interest payment date shall be dated as of
December 1, 1995
LU The Bonds shall be payable as to principal at the office of the Finance
Director of the Issuer (the "Registrar"), or at the office of such other successor registrar
as the Issuer may hereafter designate upon 60 days' mailed notice to the registered
owners. If the stated maturity date for payment of principal of any Bonds shall not be a
business day, then such payment shall be made on the next succeeding business day with
the same force and effect as if made on the stated maturity, and without additional
interest accruing thereon for the period after such stated maturity. Interest on each
Bond shall be payable by check or draft of the Registrar mailed the last business day
prior to the interest payment date to the registered holder thereof at his or her address
as it appears on the bond register at the close of business on the 15th day (whether or
not a business day) of the calendar month next preceding the interest payment date. For
purposes of this resolution "business day" shall mean any day other than a day on which
banks in the City of Minneapolis, Minnesota are authorized to be closed
Section 2. Fort and Execution of Bond.
LU The Bonds shall be in substantially the form as set forth in Exhibit A
hereto, with the necessary variations as to number, CUSIP Number, rate of interest and
date of maturity, the blanks to be properly filled in.
JU As long as any of the Bonds issued hereunder shall remain outstanding, the
Issuer shall cause to be kept at the principal office of the Regist-ar the Register in
which, subject to such reasonable regulations as the Registrar may prescribe, the
Registrar shall provide for the registration of Bonds and the registration of transfers of
Bonds. The Finance Director of the Issuer is hereby appointed Registrar, Transfer
Agent and Paying Agent with respect to the Bonds.
Upon surrender for transfer of any Bond with a written instrument of transfer
satisfactory to the Registrar, duly executed by the registered owner or his duly authorized
attorney, and upon payment of any tax, fee or other govern .ental charge required to be
paid with respect to such transfer, the Issuer shall execute and the Registrar shall
authenticate and deliver, in the name of the designated transferee or transferees, one or
more fully registered Bonds of any authorized denominations and of a like aggregate
principal amount, interest rate and maturity. Any Bonds, upon surrender thereof at the
office of the Registrar, may at the option of the registered owner thereof, be exchanged
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for an equal aggregate principal amount of Bonds of the same maturity and interest rate
of any authorized denominations. In all cases in which the privilege of exchanging or
transferring fully registered Bonds is exercised, the Issuer shall execute and the Registrar
shall deliver Bonds in accordance with the provisions of this Resolution. For every such
exchange or transfer of Bonds, whether temporary or definitive, the Issuer or the
Registrar may make a charge sufficient to reimburse it for any tax, fee or other
governmental charge required to be paid with respect to such exchange or transfer, which
sum or sums shall be paid by the person requesting such exchange or transfer as a
condition precedent to the exercise of the privilege of making such exchange or transfer.
Notwithstanding any other provision of this Resolution, the cost of preparing each new
Bond upon each exchange or transfer, and any other expenses of the Issuer or the
Registrar incurred in connection therewith (except any applicable tax, fee or other
governmental charge) shall be paid by the Issuer. Each Bond delivered under this
Resolution upon transfer of or in exchange for or in lieu of any other Bond shall carry
all the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Bond and each such Bond shall bear interest from such date that neither gain nor
loss in interest shall result from such transfer, exchange or substitution.
2M. Interest on any Bond which is payable, and is punctually paid or duly
provided for, on any interest payment date shall be paid to the person in whose name
that Bond (or one or more Bonds for which such Bond was exch.,1ged) is registered at
the close of business on the preceding January 15 or July 15, as the case may be. Any
interest on any Bond which is payable, but is not punctually paid or duly provided for, on
any interest payment date shall forthwith cease to be payable to the registered owner on
the relevant regular record date solely by virtue of such owner having been such owner;
and such defaulted interest may be paid by the Issuer to the person in whose name such
Bond is registered at the close of business on a special record date established by the
Registrar for the payment of such defaulted interest. Subject to the foregoing provisions
of this paragraph, each Bond delivered under this Resolution upon transfer of or in
exchange for or in lieu of any other Bond shall carry all the rights to interest accrued
and unpaid, and to accrue, which were carried by such other Bond and each such Bond
shall bear interest from such date that neither gain nor loss in interest shall result from
such transfer, exchange or substitution.
L 4 As to any Bond, the Issuer and the Registrar and their respective
successors, each in its discretion, may deem and treat the person in whose name the
same for the time being shall be registered as the absolute owner thereof for all purposes
and neither the Issuer nor the Registrar nor their respective successors shall be affected
by any notice to the contrary. Payment of or on account of the principal of any such
Bond shall be made only to or upon the order of the registered owner thereof, but such
registration may be changed as -Above provided. All such payments shall be valid and
effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or
sums so paid.
( LU If (i) any mutilated Bond is surrendered to the Registrar, or the Issuer and
the Registrar receive evidence to their satisfaction of the destruction, loss, or theft of any
Bond, and (ii) there is celivered to the Issuer and the Registrar such security or
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indemnity as may be required by them to save each of them harmless, then, in the
absence of notice to the issuer or the Registrar that such Bond has been acquired by a
bona fide purchaser, the Issuer shall execute, and upon its request the Registrar shall
authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost,
or stolen Bond, a new Bond of like tenor and principal amount, bearing a number not
contemporaneously outstanding. In case any such mutilated, destroyed, lost, or stolen
Bond has become or is about to become due and payable, the Issuer in its discretion
may, instead of issuing a new Bond, pay such Bond.
Upon the issuance of any new Bond under this subsection, the Issuer may require
the payment of a sum sufficient to cover any tax or other governmental charge that may
be imposed in relation thereto. Every new Bond issued pursuant to this subsection in
lieu of any destroyed, lost, or stolen Bond shall constitute an original additional
contractual obligation of the Issuer, whether or not the destroyed, lost, or stolen Bond
shall be at any time enforceable by anyone, and shall be entitled to all the benefits of
;his Resolution equally and proportionately with any and all other Bonds duly issued
liereunder.
The provisions of this section are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of
muti!hted, destroyed, lost, or stolen Bonds.
JA (a) Notwithstanding the other provisions of this Resolution regarding
registration, ownership, transfer, payment and exchange of the Bonds, unless the Issuer
determines to permit the exchange of book -entry only bonds for certificates in the
denominations provided in section 1.04, the Bonds shall be issued in denominations of
the entire principal amount of a particular maturity ("Depository Bonds"), registered in
the nominee name of The Depository Trust Company, New York, New York, its
successors and assigns, or a substitute depository as provided below (the "Depository").
So long as the Bonds are held by the Depository, the Registrar shrill comply with the
provisions of the Blanket Letter of Representations executed and delivered to the
Depository.
(b) Upon (i) a determination by the Issuer that the Depository is no longer
able to carry out its functions or is otherwise determined unsatisfactory by the Issuer in
its sole discretion, or (ii) a determination by the Depository that the Bonds are no longer
eligible for its depositary services, or (iii) a determination by the Registrar that the
Depository has resigned or discontinued its services for the Bonds, the Issuer shall either
(a) designate a substitute depository in accordance with paragraph (d) below, or (b)
provide for the exchange of Depository Bonds for Bonds in the denominations provided
in Section 1.04.
(c) If the Issuer determines to provide for the exchange of Depository Bonds
for Bonds in the denominations provided in Section 1.04, the Issuer shall so notify the
Registrar and shall provide the Registrar with a supply of executed unauthenticated
bonds to be so exchanged. The Registrar shall thereupon notify the owners of the Bonds
and provide for such exchange.
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( (d) Any substitute depository shall be a "clearing corporation" as defined in the
Minnesota Uniform Commercial Code, Minnesota Statutes, Section 336.8-102, and shall
be a qualified and registered "clearing agency" as provided in Section 17A of the
Securities Exchange Act of 1934, as amended. The substitute depository shall provide
for (i) immobilization of the Depository Bonds, (ii) registration and transfers of
beneficial ownership of interests in the Depository Bonds by book entries made on
records of the Depository and participating entities, and (iii) payment of principal of,
premium, if any, and interest on the Depository Bonds to the beneficial owners thereof
through its participating entities.
(e) With respect to Depository Bonds, the Registrar, Transfer Agent and
Paying Agent shall have no responsibility or obligation to any broker-dealers, banks and
other financial institutions from time to time for which the Depository holds Bonds as
securities depository (the "Participants"), or to any other person on behalf of whom a
Participant holds an interest in the Bonds, including but not limited to any responsibility
or obligation with respect to (i) the accuracy of the records of th. l� Depository or any
Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any
Participant or any other person other than a registered owner of Bonds, as shown by the
registration books kept by the Registrar, of any notice with respect to the Bonds,
including any notice of redemption, or (iii) the payment to any Participant or any other
person, other than a registered owner of Bonds, of any amount with respect to principal
of, premium, if any, or interest on the Bonds.
Section 3. Execution and Delivery.
3&1 The Bonds shall be executed by the respective manual or facsimile
signatures of the Mayor and City Manager of the Issuer as set forth in the form of Bond.
The seal of the Issues shall be omitted from the Bonds as permitted by law. When said
Bonds shall have been duly executed and authenticated by the Registrar in accordance
with this Resolution, the same shall be delivered to the Depository upon payment of the
purchase price, and the receipt of the Finance Director of the Issuer delivered to the
Purchaser thereof shall be a full acquittance; and the Purchaser shall not be bound to see
to the application of the purchase money. The Bonds shall not be valid for any purpose
until authenticated by the Registrar.
LU The Official Statement relating to the Bonds, on file with the City Clerk at
the time of this meeting, is hereby approved. If such officers find the same to be
accurate, the Mayor and City Manager are authorized and directed to furnish to the
Purchaser at the closing a certificate stating that, to the best knowledge of such officers,
the Official Statement does not, at the date of closing, and did not, at the time of sale of
the Bonds, contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements made therein, in the light of the
circumstances under which they were made, not misleading.
I 3M Unless litigation shall have been commenced and be pending questioning
the Bonds, revenues pledged for payments of the Bonds, or the organization of the
Issuer or incumbency of its officers, at the closing, the Mayor and the City Manager of
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the Issuer shall execute and deliver to the Purchaser a suitable certificate as to absence
of material litigation, and a certificate as to payment for and delivery of the Bonds,
together with the arbitrage certificate referred to below and the approving legal opinion
of Best & Flanagan, Professional Limited Liability Partnership as to the validity and
enforceability of the Bonds and the exclusion of interest on the Bonds from gross income
for purposes of federal and Minnesota income taxation.
Section 4. Use of Proceeds.
441 The proceeds of the Bonds are irrevocably appropriated for the purposes
set forth herein for the construction of public improvements located within the District,
as defined below. The City Finance Director is hereby authorized and directed,
simultaneously with the delivery of the Bonds, to create a separate fund designated the
"Construction Fund" and to deposit $7,626,675 from the proceeds of the Bonds into the
Construction Fund and $27,799 from the proceeds of the Bonds in the Debt Service
Fund created in Section 5.01 below, and shall invest the funds so deposited in securities
authorized for such purpose by Minnesota Statutes, Section 475.66. On December 1. 1997,
amounts remaining under the Construction Fund shall be transferred to the Debt Service
Fund established in Section 5.01 hereof.
Section 5. Debt Service Fund and Tax Levies.
= All of the Bonds shall be payable from a separate "Series 1995B Bond
Debt Service Fund" (the "Debt Service Fund") which shall be created and maintained on
the books of the Issuer until the Bondr, and all interest thereon, are fully paid. All
excess amounts under the Construction Fund transferred pursuant to Section 4.01 hereof,
and so much of the tax increments ("Tax Increments") received by the Issuer from
thirteen tax increment financing districts ("TIF Districts") all within Development District
No. 7 (the "District") as are necessary for the payment of principal and interest on the
Bonds are pledged to the Debt Service Fund. If any payment of principal or interest on
the Bonds becomes due when there is not sufficient money in the Debt Service Fund to
pay the same, the Finance Director will pay such principal and interest from the general
fund of the Issuer, and the general fund will be reimbursed for such advances out of the
proceeds of Tax Increments when received. There is appropriated to the Debt Service
Fund all capitalized interest financed from Bond proceeds, if any, any amount over the
minimum purchase price of the Bonds paid by the Purchaser and all accrued interest
paid by the Purchaser upon closing and delivery of the Bonds.
LU It is hereby determined that the estimated collection of Tax Increments for
payment of principal and interest on the Bonds will produce at least five percent in
excess of the amount needed to meet, when due, the principal and interest payments on
the Bonds and that no tax levy is needed at this time.
LU In order to ensure compliance with the Internal Revenue Code of 1986, as
amended (the "Code") , and applicable regulations, the Finance Director of the Issuer,
upon allocation of any funds to the Debt Service Fund, shall ascertain the balance then
on hand in the Debt Service Fund. If it exceeds the amount of principal and interest on
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the Bonds to become due and payable through February 1 next following, plus a
reasonable carryover equal to not more than 1/12th of the debt service due in the
following bond year, said excess shall (unless an opinion is otherwise received from bond
counsel) be used to purchase Bonds, or invested at a yield which does not exceed the
yield on the Bonds calculated in accordance with Section 148 of the Code.
Section 6. Miscellaneous.
§M The Issuer covenants and agrees with the Purchaser and holders of the
Bonds that the investment of proceeds of the Bonds, including the investment of any
revenues pledged to the Bonds which are considered proceeds under the applicable
regulations, and accumulated sinking funds, if any, shall be limited as to amount and
yield in such manner that the Bonds shall not be arbitrage bonds within the meaning of
Section 148 of the Code and any regulations thereunder. On the basis of the existing
facts, estimates and circumstances, including the forgoing findings and covenants. the
Issuer hereby certifies that it is not expected that the procEcds of the Bonds will be used
in such manner as to cause the Bonds to be arbitrage bonds under Section 148 of the
Code and any regulations thereunder. The Mayor and City Manager shall furnish an
arbitrage certificate to the Purchaser embracing or based on the foregoing certification at
the time of delivery of the Bonds to the Purchaser. The proceeds of the Bonds will
likewise be used in such manner that the Bonds are not private activity bonds under
Section 141 of the Code.
&02 The Issuer hereby designates the bonds as "Qualified Tax -Exempt
Obligations" within the meaning of Section 265(b) of the Code. With respect to such
designation, the Issuer covenants that it does not reasonably anticipate issuing
governmental or qualified 501(c)(3) obligations in an aggregate amount greater than
$10,000,000 in calendar year 1995.
6.03 The City Clerk is hereby authorized and directed to certify a copy of this
Resolution and to cause the same to be filed in the office of the Hennepin County
Director of Property Taxation, together with such other information as such officer may
require, and to obtain from such officer a certificate that the Bonds have been entered
upon his bond register.
¢Q4 The Issuer covenants that it will file with the Internal Revenue Service the
information required under Section 149(e) of the Code.
§,Q3 In order to comply with the requirements of the Securities Exchange
Commission Rule 15c2-12 regarding the obligation of the Issuer to provide for the
continuing disclosure of financial information regarding the Issuer at the time of issuance
of the Bonds the officers of the Issuer are authorized and directed to execute and deliver
the Continuing Disclosure Certificate with respect to the Bonds in substantially the form
set forth in Appendix II to the Official Statement, dated November 8, 1995, with respect
( to the Bonds. The covenants, agreements and representations contained in the
Continuing Disclosure Certificate are hereby incorporated by reference as if the
Continuing Disclosure Certificate was set forth in this resolution in its entirety.
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fia The Issuer hereby represents that, pursuant to the provisions of Treasury
�. Regulations, Sections 1.148-8 and 1.148-7[(d) or (e)], the Bonds will be treated as
meeting the arbitrage rebate requirements of Section 148(f)(2) of the Code.
§M The officers of the Issuer are authorized and directed to prepare and
furnish to the Purchaser and to the attorneys approving the Bonds, certified copies of all
proceedings and records of the Issuer relating to the power and authority of the Issuer to
issue the Bonds within their knowledge or as shown by the books and records in their
custody and control, and such certified copies and certificates shall be deemed
representations of the Issuer as to the facts stated therein.
Adopted this 21:t day of November, 1995.
Attest: /8/ Laurie F. Ahrens
City Clerk
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EXHIBIT A
(Form of Bonds)
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF PLYMOUTH
GENERAL OBLIGATION TAX INCREMENT BOND,
SERIES 199SB
Nominal Date of
8hL Maturity Original Issue CUSIP
December 1, 1995
Registered Owner:
Principal Amount;
The City of Plymouth, Minnesota (the "City"), for value received, hereby certifies
that it is indebted and hereby promises to pay to the Registered Owner specified above
or registered assigns, the principal amount specified above on the maturity date specified
above, uron the presentation and surrender hereof, and to pay to the registered owner
hereof interest on such principal sum at the interest rate specified above from
December 1, 1995 or from the most recent interest payment date to which interest has
been paid or duly provided for as specified below, on February 1 of each year,
commencing February 1, 1996, until said principal sum is paid. Principal is payablo in
lawful money of the United States of America at the office of the Finance Director of
the City, as Registrar, Transfer Agent and Paying Agent, or at the offices of such
successor agent as the City may designate upon 60 days notice to the registered owners
at their registered address (the "Registrar"). Interest shall be paid on each February 1
and August 1 by check or draft of the Registrar mailed the last business day prior to the
interest payment date to the person in whose name this Bond is registered at the close of
business on the preceding January 15 or July 15 (whether or not a business day) at his or
her address set forth on the bund register maintained by the Registrar. Any such
interest not punctually paid or provided for will be paid to the person in whose name
this Bond is registered at the close of business on a special record date established by the
Registrar for the payment of such defaulted interest,
This Bond is one of a series of Bonds in the aggregate principal amount of Seven
Million Six Hundred Sixty -Five Thousand Dollars ($7,665,000 ) of like date and tenor
except for number, interest rate, denomination, and date of maturity, and is issued for
the purpose of providing funds to finance the public development costs in a
Development District (the "District") within the City, and is issued pursuant to an
authorizing resolution (the "Resolution") adopted by the City Council of the City on
November 21, 1995, and pursuant to and in full conformity with the Constitution and
laws of the State of Minnesota, including Minnesota Statutes, Sections 469.174 through
469.179, the Minnesota Tax Increment Financing Act, and Minnesota Statutes, Sections
469.124 through 469.129. The principal hereof and interest hereon are payable primarily
from tax increments resulting from increases in valuation of real property in thirteen Tax
Increment Financing Districts (the "TIF Districts") within the District as set forth in the
Resolution to which reference is made for a full statement of rights and powers thereby
conferred. The full faith and credit of the City are irrevocably pledged for payment of
this Bond and the City Council has obligated itself to levy ad valorem taxes on all taxable
property in the City in the event of any deficiency of tax increments pledged, which taxes
may be levied, without limitation as to rate or amount.
The Bonds of this series are issuable only as fully registered bonds without
coupons in denominations of $5,000 or any integral multiple thereof not exceeding the
principal amount maturing in any one year. As provided in the Resolution and subject
to certain 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 his duly authorized attorney,
upon surrender thereof to the Registrar.
As provided in the Resolution, and subject to certain limitations set forth therein,
this Bond is transferable upon the books of the City kept for that purpose at the
principal office. of the Registrar, by the registered owner hereof in person or by such
owner's attorney duly authorized in writing, upon presentation of a written instrument of
transfer satisfactory to the Registrar, duly executed by the registered owner or such
owner's dully authorized attorney. Upon such transfer and the payment of any tax, fee or
governmental charge required to be paid by the City or the Registrar with respect to
such transfer, there will be issued in the name of the transferee a new Bond or Bonds of
the same aggregate principal amount as the surrendered Bond.
The Bonds are issuable originally only as immobilized book -entry bonds
("Depository Bonds") in the denomination of the entire principal amount of the issue
maturing on a single date. Depository Bonds are not exchangeable for fully registered
Bonds of smaller denominations except in exchange for Replacement Bonds if then
available. In the event the City determines to convert the Depository Bonds to
certificated securities ("Replacement Bonds"), the Replacement Bonds, if made available
by the City, are issuable solely as fully ►egistered Bonds in the denominations of $5,000
and integral multiples thereof of a single maturity and will be exchangeable for Hilly
registered Bonds of other authorized denominations in equal aggregate principal
amounts at the principal office of the Registrar, but only in the manner and subject to
the limitations so forth in the Resolution.
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The City has designated the Bonds as "qualified tax-exempt obligations" within the
meaning of Section 265(b) (3) of the Internal Revenue Code of 1986, as amended.
It is hereby Cartified and Recited that all acts, conditions and things required by
the Constitution and laws of the State of Minnesota to be done, to exist, to happen and
to be performed in order to make this Bond a valid and binding general obligation of the
City according to its terms, have been done, do exist, have happened and have been
performed in due form, time and manner as so required; that the Bonds are payable
from a separate debt sinking fund of the City, and other funds which have been
appropriated to such fund; that ad valorem taxes will be levied upon all taxable property
in the City for payment of principal of and interest on the Bonds of this series without
limitation as to rate or amount; and that the issuance of this Bond does not cause the
indebtedness of the City to exceed any constitutional or statutory limitation.
This Bond shall not be valid or become obligatory for any purpose until the
Certificate cf Authentication hereon shall have been manually signed by a person
authorized to sign on behalf of the Registrar.
IN WITNESS WHEREOF, the City of Plymouth, Minnesota has caused this
Bond to be executed with the manual or facsimile signatures of its Mayor and its City
Manager, both as of the Nominal Date of Original Issue specified above.
Dated: _
CITY OF PLYMOUTH, MINNESOTA
By:
Mayor
By:
City Manager
CERTIFICATE OF AUTHENTICATION
This is one of the Bonds described in the within mentioned Resolution.
FINANCE DIRECTOR Oi' THE CITY OF
PLYMOUTH, MINNESOTA
By:
Bond Registrar
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ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto
(Please Print or Typewrite Name and Address of Transferee. Include information for all
joint owners if the Bond is held by joint account.)
the within Bond and all rights thereunder, and hereby irrevocably constitutes and
appoints attorney to transfer the within Bond on the books
kept for registration thereof, with full power of substitution in the premises.
Dated:
Signature Guaranteed by -
Signatures) must be guaranteed by a
commercial bank or trust company or
by a brokerage firm having membership
in one of the major stock exchanges.
Please Insert Social Security
Number or other Identifying
Number of Assignee
gJM3DW %37ftOft"a9se.n1
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Notice: The signature(s) on this
assignment must correspond with the
name(s) appearing on the face of chic
Bond in every particular, without
alterati : or any change whatever.