2019-12-11 CC Packet - Laserfiche WebLink

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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF CENTERVILLE, MINNESOTA Held: December 11, 2019 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Centerville, Anoka County, Minnesota, was duly called to order on December 11, 2019, at 6:30 P.M. The following members were present: and the following members were absent: Member __________ introduced the following resolution and moved its adoption: RESOLUTION CALLING FOR THE REDEMPTION OF THE OUTSTANDING GENERAL OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 2015A WHEREAS: A. The City Council of the City of Centerville, Minnesota issued $1,385,000 General Obligation Improvement Refunding Bonds, Series 2015A, dated January 15, 2015; and B. All of said bonds maturing or subject to mandatory redemption on February 1, 2021 through 2025, inclusive, are subject to redemption, in whole or in part, and prepayment at the option of the City on February 1, 2020, and on any date thereafter at par plus accrued interest, all as provided in the resolution of the City authorizing the issuance of said bonds; and C. The City deems it desirable and in the best interest of the City to call $980,000 of the outstanding bonds maturing or subject to mandatory redemption in the years 2021 through 2025, inclusive, for redemption on February 1, 2020, in accordance with said resolution authorizing the issuance of said bonds, and NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Centerville, Minnesota as follows: 1. $980,000 of the General Obligation Improvement Refunding Bonds, Series 2015A, dated January 15, 2015, of the City of Centerville, Minnesota, maturing or subject to mandatory redemption in the years 2021 through 2025, inclusive, shall be redeemed and prepaid on February 1, 2020, at 100% of their principal amount plus accrued interest for each such bond called. 78