Laserfiche WebLink
<br />t; .......,"r ~, <br /> <br />.:J, <br /> <br />.':;1. Ji <br />~ "..,..~ <br />~F'- <br /> <br />RESOLUTION NO. <br /> <br />89-82 <br /> <br />RESOLUTION AUTHORIZING THE PRIOR REDEMPTION OF THE CITY'S <br />$425,000 GENERAL OBLIGATION WATER REVENUE BONDS OF 1982 <br /> <br />IT IS HEREBY RESOLVED by the City Council (the "Council") <br />of the City of New Brighton, Minnesota (the "City"), as follows: <br /> <br />1. Recitals. <br /> <br />(a) Pursuant to Resolution No. 2587 <br />Resolution"), adopted by the Council on <br />1982, the City sold its $425,000 General <br />Water Revenue Bonds of 1982, dated May 1, <br />"Bonds" ) . <br /> <br />(the "Bond <br />April 13, <br />Obligation <br />1982 ( the <br /> <br />(b) Those Bonds which remain outstanding on <br />the date hereof mature on February 1 in the following <br />years and amounts and bear interest per annum at the <br />following percentage rates, respectively: <br /> <br />Year <br /> <br />Amount <br /> <br />Rate <br /> <br />1990 <br /> <br />$ 55,000 <br /> <br />10.25 % <br /> <br />1991 <br /> <br />65,000 <br /> <br />10.50 <br /> <br />1992 <br /> <br />70,000 <br />$190,000 <br /> <br />10.75 <br /> <br />(c) The interest on the Bonds is payable on <br />each February 1 and August 1, and pursuant to the <br />Bond Resolution the remaining maturities of the Bonds <br />are subject to prior redemption by the City on any <br />future interest payment date, including August 1, <br />1989, at a price of par plus accrued interest to the <br />date of redemption upon 30 days I prior written notice <br />to the paying agent for the Bonds and upon publication <br />of a notice of such redemption pursuant to Minnesota <br />Statutes, Section 475.54, Subdivision 4. <br /> <br />(d) The Council deems it desirable and in the <br />best interests of the City to call all of the Bonds <br />which remain outstanding for prior redemption on <br />August 1, 1989. <br />