2014-12-10 CC Packet - Laserfiche WebLink

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City which are available for such purpose, and such other funds may be reimbursed without interest from the Debt Service Account when a sufficient balance is available therein. Pursuant to the 2009 Bonds Resolution, the City levied direct ad valorem taxes on all of the taxable real property in the City. Those tax levies which have not already been levied by Anoka County are hereby cancelled. To provide moneys for payment of the principal of and interest on the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Year of Tax Levy Collection Amount See attached Exhibit C The tax levies are such that if collected in full they, together with other revenues anticipated to be available for the payment of the Bonds, will produce at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. The tax levies shall be irrepealable so long as any of the Bonds are outstanding and unpaid, provided, that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3. Section 15. Redemption of 2009 Bonds. The 2009 Bonds maturing in the years 2016 through 2018 shall be redeemed and prepaid on February 1, 2015, in accordance with the terms and conditions set forth in the Notice of Call for Redemption attached hereto as Exhibit B, which terms and conditions are hereby approved and incorporated herein by reference. Said Notice of Call for Redemption for the 2009 Bonds shall be mailed at least 30 days prior to said redemption date to the registered owner of each of the 2009 Bonds at the address shown on the registration books kept by the registrar for the 2009 Bonds. Section 16. Certification of Proceedings. The officers of the City are hereby authorized and directed to prepare and furnish to the purchaser of the Bonds and to Bradley & Deike, P. A., Bond Counsel, certified copies of all proceedings and records of the City, and such other affidavits, certificates, and information as may be required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the Issuer as to the facts recited therein. Section 17. Certificate of Registration. The Clerk is hereby directed to file a certified copy of this resolution with the County Auditor of Anoka County, Minnesota, together with such other information as he or she shall require, and to obtain the County Auditor's Certificate that the bonds have been entered in the County Auditor's Bond Register and that the tax levied herein has been levied as required by law. 19 119