Laserfiche WebLink
<br />\\ <br /> <br />WHEREAS, Midwest Securities Trust Company, a limited <br />purpose trust company organized under the laws of the State of <br />Illinois, or any of its successors or successors to its <br />functions hereunder (the "Depository"), will act as such <br />depository with respect to the Bonds except as set forth <br />below, and there is before this City a form of letter <br />agreement (the "Depository Letter Agreement") setting forth <br />various matters relating to the Depository and its role with <br />respect to the Bonds; and <br /> <br />WHEREAS, the City will deliver the Bonds in the form <br />of one certificate per maturity, each representing the entire <br />principal amount of the Bonds due on a particular maturity <br />date (each a "Global Certificate"), which single certificate <br />per mnturity may be transferred on the City's bond register as <br />required by the Uniform Commercial Code, but not exchanged for <br />smaller denominations unless the City determines to issue <br />Replacement Bonds as provided below; and <br /> <br />WHEREAS, the City will be able to replace the <br />Depository or under certain circumstances to abandon the <br />"global book-entry form" by permitting the Global Certificates <br />to be exchanged for smaller denominations typical of ordinary <br />bonds registered on the City'S bond register; and "Replacement <br />Bonds" means the certificates representing the Bonds so <br />authenticated and delivered by the Bond Registrar pursuant to <br />paragraphs 6 and 12 hereof; and <br /> <br />WHEREAS, "Holder" as used herein means the person in <br />whose name a Bond is registered on the registration books of <br />the City maintained by the City'S Finance Director or a <br />successor registrar appointed as provided in paragraph 8 (the <br />"Bond Registrar"): <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Roseville, Minnesota, as follows: <br /> <br />1. Acceptance of Bid. The bid of Prudential-Bache <br />Capital Funding (the "Purchaser") to purchase $3,500,000 <br />General Obligation Improvement Bonds, Series 15, of the City <br />(the "Bonds", or individually a "Bond"), in accordance with <br />the notice of bond sale, at the rates of interest hereinafter <br />set forth, and to pay for the Bonds the sum of $3,433,738, <br />plus interest accrued to settlement, is hereby found, <br />determined and declared to be the most favorable bid received <br />and is hereby accepted, and the Bonds are hereby awarded to <br />said bidder. The Acting City Manager, or his designee, is <br />