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Last modified
9/14/2009 1:19:45 PM
Creation date
9/14/2009 1:16:28 PM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
7/20/2009
Resolution #
10737
Resolution Title
RESOLUTION ACCEPTING PROPOSAL ON THE COMPETITIVE NEGOTIATED SALE OF $1,070,000 GENERAL OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2009B, PROVIDING FOR THEIR ISSUANCE AND PLEDGING FOR THE SECURITY THEREOF SPECIAL ASSESSMENTS AND LEVYING A TAX FOR
Resolution Summary
General obligation Refunding Improvement Bonds
Resolution Date Passed
7/20/2009
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should not be paid when due, it may nevertheless be discharged by depositing with the-Bond <br />Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such <br />deposit. The City may also at any time discharge its obligations with respect to any Bonds, <br />subject to the provisions of law now or hereafter authorizing and regulating such action, by <br />depositing irrevocably in escrow, with a suitable banking institution qualified by law as an <br />escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, <br />Subdivision 8, bearing interest payable at such times and at such rates and maturing on such <br />dates as shall be required, without regard to sale and/or reinvestment, to pay all amounts to <br />become due thereon to maturity or, if notice of redemption as herein required has been duly <br />provided for, to such earlier redemption date. <br />28. Severability. If any section, paragraph or provision of this resolution shall be held <br />to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, <br />paragraph or provision shall not affect any of the remaining provisions of this resolution. <br />29. Headings. Headings in this resolution are included for convenience of reference <br />only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. <br />The motion for the adoption of the foregoing resolution was duly seconded by Member <br />Johnson and, after a full discussion thereof and upon a vote being taken thereon, the following <br />voted in favor thereof Pust, Roe, Ihlan, Johnson and Klausing <br />and the following voted against the same: none. <br />Whereupon the resolution was declared duly passed and adopted. <br />2377316v1 1 <br />
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