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08-21-00
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Last modified
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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Year of Tax Year of Tax <br /> Levy Collection Amount <br /> 2000 2001 <br /> 2001 2002 <br /> 2002 2003 <br /> 2003 2004 <br /> 2004 2005 <br /> 2005 2006 <br /> 2006 2007 <br /> 2007 2008 <br /> 2008 2009 <br /> 2009 2010 <br /> The tax levies are such that if collected in full they, <br /> together with other revenues herein pledged for the payment of <br /> the Bonds, will produce at least five percent (5t) in excess of <br /> the amount needed to meet when due the principal and interest <br /> payments on the Bonds . The tax levies shall be irrepealable so <br /> long as any of the Bonds are outstanding and unpaid, provided <br /> that the City reserves the right and power to reduce the levies <br /> in the manner and to the extent permitted by Minnesota Statutes, <br /> Section 475 . 61, Subdivision 3 . <br /> 18 . General Obligation Pledge. For the prompt and <br /> full payment of the principal and interest on the Bonds, as the <br /> same respectively become due, the full faith, credit and taxing <br /> powers of the City shall be and are hereby irrevocably pledged. <br /> if the balance in the Debt Service Account is ever insufficient <br /> to pay all principal and interest then due on the Bonds and any <br /> other bonds payable therefrom, the deficiency shall be promptly <br /> paid out of any other funds of the City which are available for <br /> such purpose, and such other funds may be reimbursed with or <br /> without interest from the Debt Service Account when a sufficient <br /> balance is available therein. <br /> 19 . Certificate of Registration. The Administrator is <br /> hereby directed to file a certified copy of this resolution with <br /> the County Auditors of Dakota and Washington Counties, Minnesota, <br /> together with such other information as they shall require, and <br /> to obtain the County Auditors ' certificates that the Bonds have <br /> been entered in the County Auditors ' Bond Registers, and the tax <br /> levy authorized by law has been made . <br /> 20 . Records and Bonds. The officers of the City are <br /> hereby authorized and directed to prepare and furnish to the <br /> Purchaser, and to the attorneys approving the legality of the <br /> issuance of the Bonds, certified copies of all proceedings and <br /> records of the City relating to the Bonds and to the financial <br /> condition and affairs of the City, and such other affidavits, <br /> certificates and information as are required to show the facts <br /> 1194249.1 24 <br />
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