My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
83-066
ArdenHills
>
Administration
>
City Council
>
Resolutions
>
1980-1989
>
1983
>
83-066
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/8/2007 1:17:39 PM
Creation date
11/14/2006 9:39:51 AM
Metadata
Fields
Template:
General (2)
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
5
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />e <br />. <br /> <br />4. In accordance with Subdivision 7a of Section 474.01 <br />Minnesota Statutes, the Mayor of the City is hereby authorized <br />and directed to submit the proposal for the Project to the <br />Commissioner requesting his approval, and other officers, <br />employees and agents of the City are hereby authorized to <br />provide the Commissioner with such preliminary information as <br />he may require; <br /> <br />. <br /> <br />5. Company has agreed and it is hereby determined that <br />any and all costs incurred by the City in connection with the <br />financing of the Project whether or not the Project is carried <br />to completion and whether or not approved by the Commissioner <br />will be paid by Company; <br /> <br />6. Brigge and Morgan, Professional Association, acting as <br />bond counsel, the City's fiscal consultant, and Juran & Moody, <br />Inc., are authorized to assist in the preparation and review of <br />necessary documents relating to the Project, to consult with <br />the City Attorney, Company and the purchaser of the Revenue <br />Bonds as to the maturities, interest rates and other terms and <br />provisions of the Revenue Bonds and as to the covenants and <br />other provisions of the necessary documents and to submit such <br />documents to the Council for final approval; <br /> <br />, <br /> <br />7. Nothing in this resolution or in the documents pre- <br />pared pursuant hereto shall authorize the expenditure of any <br />municipal funds on the Project other than the revenues derived <br />from the Project or otherwise granted to the City for this <br />purpose. The Revenue Bonds shall not constitute a charge, lien <br />or encumbrance, legal or equitable, upon any property or funds <br />of the City except the revenue and proceeds pledged to the <br />payment thereof, nor shall the City be subject to any liability <br />thereon. The holder of the Revenue Bonds shall never have the <br />right to compel any exercise of the taxing power of the City to <br />pay the outstanding principal on the Revenue Bonds or the <br />interest thereon, or to enforce payment thereof against any <br />property of the City. The Revenue Bonds shall recite in <br />substance that the Revenue Bonds, including interest thereon, <br />is payable solely from the revenue and proceeds pledged to the <br />payment thereof. The Revenue Bonds shall not constitute a debt <br />of the City within the meaning of any constitutional or <br />statutory limitation; <br /> <br />8. In anticipation of the approval by the Commissioner <br />the issuance of the Revenue Bonds to finance all or a portion <br />of the Project, and in order that completion of the Project <br />will not be unduly delayed when approved, Company is hereby <br />authorized to make such expenditures and advances toward <br /> <br />. <br />
The URL can be used to link to this page
Your browser does not support the video tag.