Laserfiche WebLink
<br />and prepurchase of said bonds for permanent retirement, and <br /> <br />WHEREAS by exercise of said call and pre-purchase at this <br /> <br />time the Village of Roseville will save the sum of $139,590 <br /> <br />interest on bonds bearing 4.70% coupons, less $5,400 premium <br /> <br />to be paid, or a net saving of $134,190i and a saving of $7,740 <br /> <br />on bonds bearing a 4.30% coupon less $600 premium for a net <br /> <br />saving of $7,140 or a total net saving of $14I,330. <br /> <br />BE IT RESOLVED BY THE VILLAGE COUNCIL of the Village of <br /> <br />Roseville, Minnesota, as follows: <br /> <br />I. It is necessary, expedient and feasible that the <br />Village of Roseville purchase for redemption and retirement <br />$300,000 bonds of Series C, Sanitary Sewer Improvement No. I <br />dated October I, 1957, being bonds numbered 301 through 600, <br />maturing in 1968 through 1977. <br /> <br />2. The Village Administrator is hereb authorized to <br />mail notice of the call of said bonds not less than thirty days <br />prior to the date specified for redemption to the holder of any <br />of such bonds, if known, and if any of such holders of pre- <br />payable bonds have registered their names and addresses and <br />serial numbers of their bonds with the Village Treasureri and <br />said notice, together with a copy of this resolution to the First <br />National Bank of St. Paul, being thepaying agent at which <br />principal and interest are then payable. <br /> <br />3. Upon mailing of said notice and a copy of this resolution <br />to the paying agent, First National Bank of St. Paul, no further <br />interest on said bonds shall accrue after the interest payment <br />date of July I, 1962 and any such holder failing to surrender <br />any bond or interest coupon in his possession, affected herein, <br />shall not be entitled to any interest after said date and the <br />paying agent is hereby instructed to pay accrued interest to <br />July I, 1962 to the holders of any such bonds and cease the <br />payment of any interest thereafter. <br /> <br />4. The Village Administrator and the paying agent, First <br />National Bank of St. Paul, are hereby authorized, in accordance <br />with the action taken herein, to amend their records accordingly <br />and reduce the amount of interest and principal to be paid after <br />July I, 1962 to such paying agent. <br /> <br />The motion for the adoption of the foregoing resolution was <br /> <br />duly seconded by Trustee Goodrich, and upon vote being taken <br /> <br />thereon, the following voted in favor thereof: All <br />