Agenda - Council - 12/19/2000 - Laserfiche WebLink

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-76- common maturity date a distinctive number for each $$,000 of the principal amount of such Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers assigned to the Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assig-ned numbers so selected; provided, however, that only so much of the principal amount of such' Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assig-ned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the Issuer or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the Issuer and Bond Registrar duly executed by the Holder thereof or the Holder's attorney duly authorized in writing) and the Issuer shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of the Bond, without service charge, a new Bond or Bonds having the same stated maturity and interest rate and of any Authorized Denomination or Denominations, as requested by the Holder, in aggregate principal amount equal to and in exchange tbr the unredeemed portion of the principal of the Bond so surrendered. Issuance; Purpose: General Obligation. This Bond is one 0fan issue in the total principal amount of $1,680,000, all of like date of original issue and tenor, except as to number, maturity, interest rate, denomination and redemption privilege, which Bond has been issued pursuant to and in full conformity with the City Charter, the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by the City Council of the issuer on December 19, 2000 (the "Resolution"), for the purpose of providing money to finance land acquisition and site improvement costs within Municipal Development District No. 1 of the Issuer. This Bond is payable out o f the General Obligation Taxable Tax Increment Bonds, Series 2001A Fund of the Issuer. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, and interest when the same become' due, the Rill faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. Denominations~ Exchange.; Resolution. The Bonds are issuable solely in fully registered form. in Author/zed Denominations (as defined in the Resolution) and are exchangeable for fully registered Bonds c~f other Authorized Denominations in equal aggegate principal amounts at the principal office of the Bond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal. office of the Bond Registrar. Transfer. This Bond is transferable by the Holder in person or by the Holder's attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Bond Registrar, ali subject to the terms and conditions provided in the Resolution and to reasonable regulations of the Issuer contained in any agreement with the Bond Registrar.. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of the transferee (but not registered in blank or to "bearer" or similar designation), of an Authorized ll 1237935.1 I I I I I I I I I I I I I I I I I