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Last modified
7/17/2007 8:38:06 AM
Creation date
12/2/2004 9:13:12 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9391
Resolution Title
Awarding the lowest interest cost bid of 4.97518 percent for the $2,750,000 Improvement Bonds, Series 23 to Norwest Investment Services, Inc. (3/10/97).
Resolution Date Passed
3/10/1997
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<br />7.04. Transfers Outside Book-Entry Svstem. In. the event the City, by resolution of the <br />City Council, determines that it is in the best interests of the persons having beneficial interest <br />in the Bonds that they be able to obtain Bond certificates, the City will notify DTC, whereupon <br />DTC will notify the Participants, of the availability through DTC of Bond certificates. In such <br />event the City will issue, transfer and exchange Bond certificates as requested by DTC and any <br />other registered owners in accordance with the provisions of this Resolution. DTC may <br />determine to discontinue providing its services with respect to the Bonds at any time by giving <br />notice to the City and discharging its responsibilities with respect thereto under applicable law. <br />In such event, if no successor securities depository is appointed, the City will issue and the Bond <br />Registrar will authenticate Bond certificates in accordance with this resolution and the provisions <br />hereof will apply to the transfer, exchange and method of payment thereof. <br /> <br />7.05. Pavments to Cede & Co. Notwithstanding any other provision of this resolution <br />to the contrary, so long as any Bond is registered in the name of Cede & Co., as nominee of <br />DTC, all payments with respect to principal of, premium, if any, and interest on such Bond and <br />all notices with respect to such Bond will be made and given, respectively in the manner provided <br />in the Representation Letter. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Member <br /> <br />Wiski, and upon vote being taken thereon, the following voted in favor thereof: Mastel, Wiski <br /> <br />and Wall <br /> <br />and the following voted against the same: None <br /> <br />whereupon said resolution was declared duly passed and adopted. <br /> <br />DJK1l8730 <br />RS200-19 <br />
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