92-110 (2) - Laserfiche WebLink

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... IN WITNESS WHEREOF, the City of New Brighton, Ramsey County, Minnesota, by its City Council, has caused this Bond to be executed on its behalf by the facsimile signatures of the Mayor and City Manager and has caused this Bond to be dated as of the date set forth below. Dated: November 1, 1992 CITY OF NEW BRIGHTON, MINNESOTA (Facsimile) City Manager Mayor ( Facsimile) CERTIFICATE OF AUTHENTICATION This is one of the Bonds delivered pursuant to the Resolution mentioned within. By Authorized Representative [Reverse of the Bond] This Bond is one of an issue in the aggregate principal amount of $230,000 all of like original issue date and tenor, except as to number, maturity date, and interest rate, all issued pursuant to a resolution adopted by the City Council on September 29, 1992 (the Resolution), for the purpose of providing money to aid in financing various improvements to the sewage disposal system of the City, pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Section 444.075 and Chapter 475 and the principal hereof and interest hereon are payable primarily from the net revenues of the sewer plant and system of the City in a special debt service fund of the City,' as set forth in the Resolution to which reference is made for a full statement of rights and powers thereby conferred. The full faith and credit of the City are irrevocably pledged for payment of this Bond and the City Council has obligated itself to levy additional ad valorem taxes on all taxable property in the City in the event of any deficiency in net revenues pledged, which taxes may be levied without limitation as to rate or amount. The Bonds of this series are issued only as fully registered Bonds in denominations of $5,000 or any integral multiple thereof of single maturities. IT IS HEREBY CERTIFIED AND RECITED That in and by the Resolution, the City has covenanted and agreed that it will continue to own and operate the sewer plant and system free from competition by other like utilities j that adequate insurance on said plant and system and suitable fidelity bonds on employees will be carried; that proper and adequate books of-account will be kept showing all receipts and disbursements relating to the Sewer Fund, into which it will pay all of the gross revenues from the sewer plant and system; that it Will also create and maintain a General Obligation Sewer Revenue Bonds, Series 1992B Debt Service Fund, into which it will pay, out of the net revenues from the sewer system a sum sufficient to SJB41089 KE136-97