Resolution 2022 - Laserfiche WebLink

Home Browse Search

> ; . 1 . - Revenue Bonds of 1978 in the aggregate principal amount of $950,000, to be dated February 1, 1978, to bear interest at the rates above set forth, payable August 1, 1978 and semiannually thereafter on February 1 and August 1 in each year, and to mature serially on February 1 in the years and amounts as follows: $10,000 in 1981 and 1982, $75;000 in 1983 and 1984, $80,000 in 1985 and 1986, $85,000 in 1987 and 1988, and $90,000 in 1989 to 1993, all years inclusive, all bonds maturing on or after February 1, 1988 being subject to redemption at the option of the City and in inverse numerical order on February 1, 1987 and any interest payment date thereafter at par and accrued interest. The bonds shall be numbered serially from 1 upwards in chronological order of maturity dates and shall be in the denomination of $5,000 each. First 3. Both princi~al and interest shall be pa~able at National Bank of t. Paul , in St. aul , Minnesota, and the City shall pay the reasonable charges of said bank for its services as paying agent. 4. The bonds, the interest coupons to be thereto attached and the City Clerk's Certificate on the reverse side thereof shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON No. $5,000 GENERAL OBLIGATION WATER REVENUE BOND OF 1978 KNOW ALL MEN BY THESE PRESENTS That the City of New Brighton, Ramsey County, Minnesota, acknowledges itself to be indebted and for value received hereby promises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the first day of February, 19 , and to pay interest thereon from the date hereof until the prIncipal amount is paid at the rate of per annum, interest to maturity payable August 1, 1978 and semiannually thereafter on the first day of February and the first day of August in each year in accordance with and upon presentation and surrender of the interest coupons hereto attached as they severally become due. Both principal of and interest on this bond are payable at , in , Minnesota in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. All bonds of this issue maturing in the years 1988 to 1993, both inclusive, are subject to redemption and prior payment at the option of the City in inverse numerical order on February 1, 1987 and on any interest payment date thereafter at par and accrued interest. Thirty days' prior notice will be given by mail to the bank where the bonds are payable and to the last known holder, and published notice of redemption will be given in the manner provided by Minnesota Statutes, Chapter 475. -2-