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<br />" <br /> <br />" <br /> <br />RESOLUTION NO. 86-81 <br /> <br />RESOLUTION AWARDING THE SALE OF $2,350,000 <br />GENERAL OBLIGATION CAPITAL IMPROVEMENT REFUNDING BONDS, <br />SERIES 1986; FIXING THEIR FORM AND SPECIFICATIONS; <br />DIRECTING THEIR EXECUTION AND DELIVERY; <br />AND PROVIDING FOR THEIR PAYMENT. <br /> <br />BE IT RESOLVED by the City Council of the City of New <br />Brighton, Minnesota, as follows: <br /> <br />1. Definitions. As used in this Resolution and in the <br />Escrow Deposit Agreement, in addition to any terms which may <br />be defined in the text of this Resolution or in said Agree- <br />ment, the following terms shall have the following respec- <br />tive meanings: <br /> <br />"Alternative Crossover Date" means the first day of <br />any month not later than August 1, 1993, establ ished <br />pursuant to the Escrow Deposit Agreement as the end of <br />an Alternative Crossover Period. <br /> <br />"Alternative Crossover Period" means any period <br />beginning on the First Crossover Date or an Alternative <br />Crossover Date and ending on the next succeeding Alter- <br />native Crossover Date. <br /> <br />"Bank" means the same as that term is def ined in <br />the Series 1985 Indenture, being as of the date hereof <br />National Australia Bank Limited, acting through its New <br />York Branch. <br /> <br />"Bonds" means the City's $2,350,000 General Obliga- <br />tion Capi tal Improvement Refunding Bonds, Ser ies 1986, <br />as authorized to be issued pursuant to this Resolution. <br /> <br />"Crossover Date" means the First Crossover Date or <br />the Alternative Crossover Date on which, pursuant to <br />this Resolution and the Escrow Deposi t Agreement, the <br />crossover refunding of the Series 1985 Bonds shall <br />actually occur. <br /> <br />"Debt Service Fund" and "Ser ies 1986 Debt Service <br />Fund" mean the debt service fund created for the Bonds <br />pursuant to paragraph 12 of this Resolution. <br /> <br />- 2 - <br />