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adjustment of maturities in relation to the resources available for their <br />payment; <br /> <br /> (b) Section 475.67, subdivision 4 of the Act permits the sale of <br />refunding obligations during the six month period prior to the date on which <br />the obligations to be refunded may be called for redemption; <br /> <br /> (c) it is necessary and desirable to reduce debt service costs that the <br />City issue $330,000 Taxable General Obligation Tax Increment Refunding <br />Bonds, Series 1996A (Bonds) to refund certain outstanding general <br />obligations of the City; <br /> <br /> (d) the outstanding bonds to be refunded (Refunded Bonds) consist <br />of the $400,000 Taxable General Obligation Tax Increment Bonds, Series <br />1987B, dated August 1, 1987, of which $310,000 in principal amount is <br />currently outstanding and is callable on February 1, 1996. <br /> <br /> 2. To provide monies to refund the Refunded Bonds, the City will issue <br />and sell Bonds in the amount of $325,380. To provide in part the additional interest <br />required to market the Bonds at this time, additional Bonds will be issued in the <br />amount of $4,620. The excess of the purchase price of the Bonds over the sum of <br />$325,380 will be credited to the debt service fund for the Bonds for the purpose of <br />paying interest first coming due on the additional Bonds. The Bonds will be issued, <br />sold and delivered in accordance with the terms of the following Notice of Sale: <br /> <br />DJK96447 <br />RA125-43 <br /> <br /> <br />