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<br /> , , <br /> RESOLUTION NO. 92-52 <br /> EXlRACI' OF MINUTES OF A MEETING OF THE <br /> . CITY COUNCil.. OF THE CITY OF <br /> ARDEN HILLS, MINNESOTA <br /> Held: <br /> Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br /> Arden Hills, Minnesota, was duly called and held at the City Hall in said City on the day <br /> of , 1992, at P.M. ' <br /> The following members were present: <br /> and the following were absent: <br /> Member introduced the following resolution and moved its adoption: <br /> RESOLUTION CALLING FOR THE REDEMPTION OF OUTSTANDING <br /> GENERAL OBLIGATION ADVANCE REFUNDING BONDS OF 1985 <br /> WHEREAS: <br /> A. The City Council of the City of Arden Hills issued on behalf of the City, <br /> $2,320,000 General Obligation Advance Refunding Bonds of 1985, dated December 15, 1985, of <br /> . which, bonds maturing 1993 and thereafter $275,000 still remain outstanding; and <br /> B. All of said bonds maturing in the years 1989 through 1994, are subject to <br /> redemption and prepayment at the option of the City on December 1,1988, and on any interest <br /> payment date thereafter at par and accrued interest per Bond called, all as provided in the resolution <br /> of the City Council dated December 3, 1985, authorizing the issuance of said bonds; and <br /> C. The City Council deems it desirable and in the best interest of the City to call all <br /> of said bonds maturing the years 1993 through 1994 on December 1, 1992, the next interest <br /> payment date, in accordance with said resolution authorizing the issuance of said bonds; and <br /> NOW TIIEREFORE, BE IT RESOLVED by the City Council of the City of <br /> Arden Hills, Minnesota, as follows: <br /> 1. All of the General Obligation Advance Refunding Bonds of 1985 of the City <br /> maturing in the years 1993 through 1994, shall be redeemed and prepaid on December 1, 1992 at <br /> 100% of their principal amount plus accrued interest for each such bond called. <br /> 2. The City Deputy Clerk is hereby authorized and directed to give mailed notice of <br /> call prior to said call date to the bank where said bonds are payable and to all holders of the bonds, <br /> if any, who have registered their names, addresses and bond numbers with the City Deputy Clerk. <br /> Said notice shall be in substantially the following form: <br /> . <br />