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86-070
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86-070
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8/9/2005 11:35:46 AM
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<br />(End of Bond Form) <br /> <br />5. The City Finance Director/City Clerk shall obtain a <br />copy of the proposed approving legal opinion of bond coun- <br />sel, O'Connor & Hannan, of Minneapolis, Minnesota, which <br />shall be complete except as to dating thereof, shall cause <br />such opinion to be filed in the offices of the Ci ty, and <br />s~a1l cause said opinion to be printed on each of the Bonds, <br />together with a certificate to be signed by the facsimile <br />signature of the City Finance Director/City Clerk in sub- <br />stantially the following form: <br /> <br />I hereby certify that the foregoing is a full, <br />true, and correct copy of the legal opinion exe- <br />cuted by the above-named attorneys, except as to <br />the dating thereof, which opinion has been handed <br />to me for filing in my office prior to the time of <br />delivery of the Bonds. <br /> <br />facsimile si nature <br />C1ty F1nance Director C1ty <br />Clerk, City of New Brighton, <br />Minnesota <br /> <br />6. The Bonds shall be executed on behalf of the City <br />by the facsimile signatures of the Mayor and the City <br />Manager and shall be duly authenticated by the manual signa- <br />ture of an officer of the Bond Registrar, hereby designated <br />by the City as its authenticating agent for the Bonds pur- <br />suant to Minnesota Statutes, Section 475.55, Subdivision <br />1. The Bonds, when fully executed, shall be delivered by <br />the City Finance Director/City Clerk to the Purchaser upon <br />receipt of the purchase price, and the Purchaser shall not <br />be obligated to see to the proper application thereof. If <br />it becomes desirable or necessary that the City close on the <br />Bonds prior to the time that printed Bonds can be prepared, <br />executed, and delivered, the City may deliver to the Pur- <br />chaser temporary typewritten or similarly prepared Bonds <br />(including with respect to each maturity a single Bond in <br />the full principal amount thereof), duly executed and <br />authenticated in accordance with applicable law, which tem- <br />porary Bonds shall be exchanged for definitive Bonds as soon <br />as the same can be prepared and delivered in accordance with <br />this Resolution. <br /> <br />7. There is hereby created on the books and accounts <br />of the City a separate construction fund (the "Construction <br />Fund") which shall be used solely to defray the expenses <br />incurred in making the improvements (the "Improvements") <br />financed in whole or in part from the proceeds of the Bonds <br /> <br />- 9 - <br />
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