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9/27/2021 3:25:22 PM
Creation date
10/5/2006 3:40:49 PM
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City Council
City Council - Type
CC Packets
Date
10/5/2006
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ON REVERSE OF BOND <br /> Redemption. All Bonds of this issue (the "Bonds") <br /> maturing in the years 2008 through 2012, both inclusive, are <br /> subject to redemption and prepayment at the option of the Issuer <br /> on February 1, 2007, and on any date thereafter at a price of par <br /> plus accrued interest . Redemption may be in whole or in part of <br /> the Bonds subject to prepayment . If redemption is in part, the <br /> Issuer shall determine the maturities and principal amount within <br /> each maturity to be prepaid; and if only part of the Bonds having <br /> a common maturity date are called for prepayment, the specific <br /> Bonds to be prepaid shall be chosen by lot by the Bond Registrar. <br /> Bonds or portions thereof called for redemption shall be due and <br /> payable on the redemption date, and interest thereon shall cease <br /> to accrue from and after the redemption date. Mailed notice of <br /> redemption shall be given to the paying agent and to each <br /> affected Holder of the Bonds . <br /> Selection of Bonds for Redemption; Partial Redemption. <br /> To effect a partial redemption of Bonds having a common maturity <br /> date, the Bond Registrar shall assign to each Bond having a <br /> common maturity date, a distinctive number for each $5, 000 of the <br /> principal amount of such Bond. The Bond Registrar shall then <br /> select by lot, using such method of selection as it shall deem <br /> proper in its discretion from the numbers assigned to the Bonds, <br /> as many numbers as, at $5, 000 for each number, shall equal the <br /> principal amount of such Bonds to be redeemed. The Bonds to be <br /> redeemed shall be the Bonds to which were assigned numbers so <br /> selected; provided, however, that only so much of the principal <br /> amount of such Bond of a denomination of more than $5, 000 shall <br /> be redeemed as shall equal $5, 000 for each number assigned to it <br /> and so selected. If a Bond is to be redeemed only in part, it <br /> shall be surrendered to the Bond Registrar (with, if the Issuer <br /> or the Bond Registrar so requires, a written instrument of <br /> transfer in form satisfactory to the Issuer and the Bond <br /> Registrar duly executed by the Holder thereof or his attorney <br /> duly authorized in writing) and the Issuer shall execute and the <br /> Bond Registrar shall authenticate and deliver to the Holder of <br /> such Bond, without service charge, a new Bond or Bonds of the <br /> same series having the same stated maturity and interest rate and <br /> of any authorized denomination or denominations, as requested by <br /> such Holder, in aggregate principal amount equal to and in <br /> exchange for the unredeemed portion of the principal of the Bond <br /> so surrendered. <br /> Issuance; Purpose ; General Obligation. This Bond is <br /> one of an issue in the total principal amount of $3, 380, 000, all <br /> of like date of original issue and tenor, except as to number, <br /> maturity, interest rate, denomination and redemption privilege, <br /> which Bond has been issued pursuant to and in full conformity <br /> with the Constitution and laws of the State of Minnesota and <br /> 1194249.1 12 <br /> ------_._. _... _._.. __... <br />
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