My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1999-02-10
Centerville
>
City Council
>
Agenda Packets
>
1996-2022
>
1999
>
1999-02-10
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/21/2009 10:31:26 AM
Creation date
12/21/2009 10:30:17 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
170
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
UNITED STATE OF AMERICA <br /> STATE OF MINNESOTA <br /> COUNTY OF ANOKA <br /> No. R -1 $114,051.19 <br /> TAX INCREMENT REVENUE NOTE <br /> SERIES 1995B <br /> Date <br /> Rate of Original Issue <br /> 8.50% November 1, 1995 <br /> The City of Centerville, Minnesota (the "City "), for value received, certifies <br /> that it is indebted and hereby promises to pay to Northern Forest Products, L.L.C. , <br /> or registered assigns (the "Owner "), the principal sum of $114,051.19 and to pay <br /> interest thereon at the rate of 8.50% per annum, as and to the extent set forth <br /> herein. <br /> 1. Payments . Principal and interest ( "Payments ") shall be paid on August <br /> 1, 1998 and each August 1 and February 1 thereafter to and including February 1, <br /> 2006 ( "Payment Dates ") in the amounts set forth in Attachment A hereto, but only <br /> to the extent of Available Tax Increment as hereinafter defined. Payments shall be <br /> applied first to accrued interest, and then to unpaid principal. <br /> Payments are payable by mail to the address of the Owner or such other <br /> address as the Owner may designate upon 30 days written notice to the City. <br /> Payments on this Note are payable in any coin or currency of the United Sates of <br /> America which, on the Payment Date, is legal tender for the payment of public and <br /> private debts. <br /> 2. Interest. Interest at the rate stated herein shall accrue on the unpaid <br /> principal, commencing on the date of original issue. Interest shall be computed on <br /> the basis of a year of 360 days and charged for actual days principal is unpaid. <br /> 3. Available Tax Increment. Payments on this Note are payable solely from <br /> "Available Tax Increment," which shall mean, on each Payment Date, 90 percent of <br /> the Tax Increment generated in the preceding six (6) months with respect to the <br /> Property and remitted to the City by Anoka County, all as such terms are defined <br /> in the Contract for Private Development, dated as of October 24, 1995 (the <br /> "Agreement ") between the City and the Owner. <br /> Available Tax Increment shall not include any Tax Increment generated with <br /> respect to the Property prior to the date that the City's $32,250 Tax Increment <br /> Revenue Note, Series'1995A (the "Note 1 ") has been paid in full or terminated in <br /> accordance with its terms, including any extension of the final maturity of such Note <br /> as may be approved by the City after the issuance thereof. This Note is subordinate <br /> in all respects to Note 1. <br /> Available Tax Increment shall not include any Tax Increment generated with <br /> respect to the Property if, as of any Payment Date, there is an uncured Event of <br /> Default under the Agreement. <br /> SJ393340 <br /> CE155 -7 2 Rev -se: <br />
The URL can be used to link to this page
Your browser does not support the video tag.