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<br />CITY OF CENTERVILLE <br />STATE OF MINNESOTA <br />RESOLUTION 97-23 <br /> <br />RESOLUTION CONCERNING HOUSING DEVELOPMENT REVENUE BONDS (Cln" <br />OF CENTERV~LE UNLIMITED TAX GENERAL OBLIGATION), SERIES 1997B OF <br />THE ANOKA COUNTY HOUSING AND REDEVELOPMENT AUTHORITY AND <br />MODIFYING RESOLUTION NO. 97-21 OF THE CITY WITH RESPECT THERETO. <br /> <br />WHEREAS, pursuant to Resolution No. 97-21, the City ofCenterville (the"City") has <br />approved the issuance by the Anoka County Housing and Redevelopment Authority (the "Issuer") <br />of$I,290,000 aggregate principal amount of Housing Development Revenue Bonds (City of <br />Centerville Unlimited Tax General Obligation), Series 1997B (the "Bonds"), and has specifically <br />pledged to the Issuer certain monies to be segregated in a separate account on the books and <br />records of the City for the purpose of supporting debt service on the Bonds; and <br /> <br />WHEREAS, the final terms of the Bonds have now been determined by the Issuer; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNC~ OF THE CIty OF <br />CENTERVILLE, MINNESOTA, AS FOLLO\VS: <br /> <br />1. That the amount specifically pledged to the Issuer is $71,631, being the present <br />value of the cumulative amount by which Project Revenues and Issuer Pledge less than 110% of <br />debt agrees to segregate such amount in a separate account on the books and records of the City <br />until December 31, 2012 to be transferred to the Issuer as necessary to pay debt service on the <br />Bonds, subject to sooner release of the pledge in accordance with the provisions of Resolution <br />No. 97-21. <br /> <br />ADOPTED BY THE CENTERVILLE CITY COUNC~ ON OCTOBER 22, 1997. <br />'" <br />C-./~ -~.{/},- <br />Mayor Tom Wilharber <br /> <br />ATTEST: <br /> <br />~ ~(lli~ <br />Ry hel Gaustad, CMC City Clerk <br />