Resolution - #92-01-006 - 01/14/1992

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and interest due during the ensuing year, and the County Auditor will thereupon reduce the levy collectible during such year by the amount so certified. 4.05. The City Administrator is authorized and directed to ftc a certified copy of this resolution with the County Auditor of Anoka County and to obtain the certifi- cate required by Minnesota Statutes, Section 475.63. 4.06. It is hereby determined that upon the receipt of proceeds of the Bonds (Proceeds) for payment of the Refunded Bonds in the amount of $ that an irrevocable appropriation to the debt service fund for the Refunded Bonds shall have been made within the meshing of Section 475.61, Subdivision 3 of the Act and the Administrator is hereby authorized and directed to certify such fact to and request the County Auditor to cancel any and all tax levies made by the resolution authorizing and approving the Refunded Bonds. Section 5. Refundinff; Findings~ Redemption of Refunded Bonds. 5.01. The Refunded Bonds are the General Obligation Improvement Bonds of 1984, Series II of the City, dated October 1, 1984, of which $420,000 in principal amount is callable on April 1, 1992. It is hereby found and determined that based upon information presently available from the City's financial advisers, the issuance of the Bonds is consistent with covenants made with the holders thereof and is necessary and desirable for the reduction of debt service cost to the municipality. 5.02. It is hereby found and determined that the Proceeds in the amount of $ , together with other funds of the City in the amount of $ ..., will be sufficient to prepay all of the principal of, interest on and redemption premium (if any) on the Refunded Bonds. 5.03. The Refunded Bonds maturing on April 1, 1993 and thereafter shall be redeemed and prepaid on April 1, 1992. The Refunded Bonds shall be redeemed and prepaid in accordance with their terms and in accordance with the terms and conditions set forth in the forms of Notice of Call for Redemption attached hereto as Attachment B which terms and conditions are hereby approved and incorporated herein by reference. The City is hereby authorized and directed to r,~! the Notice of Call for Redemption to the paying agent for the Refunded Bonds. 5.04. When all Bonds and ail interest thereon, have been discharged as provided in this section, all pledges, covenants and other rights granted by this resolution to the holders of the Bonds shall cease, except that the pledge of the full faith and credit of the City for the prompt and full payment of the principal of and interest on the Bonds shall re_n~in in full force and effect. The City may discharge all Bonds which are due on any date by depositing with the Registrar on or before that date a sum sufficient for the payment thereof in full. If any Bond should not be paid when due, it may nevertheless be discharged by depositing with the Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. Section 6. Authentication of Transcript. 6.01. The officers of the City are authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies of proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other certificates, affidavits and ~27511 RA125-32