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12/2/2011 11:57:17 AM
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12/2/2011 11:56:15 AM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
11/21/2011
Resolution #
10948
Resolution Title
RESOLUTION AMENDING ITS RESOLUTION DATED OCTOBER 24, 2011 WHICH PROVIDED FOR THE COMPETITIVE NEGOTIATED SALE OF $10,000,000 GENERAL OBLIGATION BONDS, SERIES 2011A
Resolution Date Passed
11/21/2011
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shall be paid by the purchaser, except that, if the City has requested and received a rating on the <br /> Bonds from a rating agency,the City will pay that rating fee. Any other rating agency fees shall <br /> be the responsibility of the purchaser. <br /> Failure of the municipal bond insurer to issue the policy after Bonds have been awarded to the <br /> purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on <br /> the Bonds. <br /> CUSIP NUMBERS <br /> If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the <br /> Bonds, but neither the failure to print such numbers on any Bond nor any error with respect <br /> thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the <br /> Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers <br /> shall be paid by the purchaser. <br /> SETTLEMENT <br /> Within 40 days following the date of their award, the Bonds will be delivered without cost to the <br /> purchaser through DTC in New York,New York. Delivery will be subject to receipt by the <br /> purchaser of an approving legal opinion of Briggs and Morgan, Professional Association, of <br /> Saint Paul and Minneapolis, Minnesota, and of customary closing papers, including a no- <br /> litigation certificate. On the date of settlement, payment for the Bonds shall be made in federal, <br /> or equivalent, funds that shall be received at the offices of the City or its designee not later than <br /> 12:00 Noon, Central Time. Unless compliance with the terms of payment for the Bonds has <br /> been made impossible by action of the City, or its agents, the purchaser shall be liable to the City <br /> for any loss suffered by the City by reason of the purchaser's non-compliance with said terms for <br /> payment. <br /> CONTINUING DISCLOSURE <br /> On the date of actual issuance and delivery of the Bonds, the City will execute and deliver a <br /> Continuing Disclosure Undertaking (the "Undertaking") whereunder the City will covenant for <br /> the benefit of the owners of the Bonds to provide certain financial and other information about <br /> the City and notices of certain occurrences to information repositories as specified in and <br /> required by SEC Rule 15c2-12(b)(5). <br /> OFFICIAL STATEMENT <br /> The City has authorized the preparation of an Official Statement containing pertinent information <br /> relative to the Bonds, and said Official Statement will serve as a nearly final Official Statement <br /> within the meaning of Rule 15c2-12 of the Securities and Exchange Commission. For copies of <br /> the Official Statement or for any additional information prior to sale, any prospective purchaser <br /> is referred to the Financial Advisor to the City, Springsted Incorporated, 380 Jackson Street, <br /> Suite 300, Saint Paul, Minnesota 55101,telephone (651) 223-3000. <br /> The Official Statement, when further supplemented by an addendum or addenda specifying the <br /> maturity dates, principal amounts and interest rates of the Bonds, together with any other <br /> information required by law, shall constitute a"Final Official Statement" of the City with respect <br /> A-5 <br /> 4371132v1 <br />
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