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<br />. <br /> <br />. <br /> <br />. <br /> <br />Extract of Minutes of Meeting of the <br />City Council of the City of New Brighton, <br />Ramsey County, Minnesota <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br /> <br />New Brighton, Minnesota, was duly held in the City Hall in the City of New Brighton, on Tuesday, <br /> <br />December 12,2006, commencing at 6:30 P.M, <br /> <br />The following members were present: Steve Larson, Gina Bauman, Mary Burg, Sharon, <br /> <br />Doffing and Ann Hoffman <br /> <br />and the following were absent: None <br /> <br />* * * <br /> <br />* * * <br /> <br />* * * <br /> <br />Member Bauman introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION NO. 06-124 <br /> <br />RESOLUTION PROVIDING FOR THE PREP A YMENT AND <br />REDEMPTION OF CERTAIN OUTSTANDING <br />GENERAL OBLIGATION NOTES OF THE CITY <br /> <br />BE IT RESOLVED By the City Council of the City of New Brighton, Ramsey County, <br /> <br />Minnesota (the "City"), as follows: <br /> <br />1. The City has on this date approved the issuance of its General Obligation Taxable <br />Tax Increment Notes, Series 2006B, dated December IS, 2006 (the "Notes") in the total principal <br />amount of $11,951,940.29, to Walburn, Ltd. and Midwest Asphalt Corporation (together, the <br />"Owners"). <br /> <br />2. The Notes are subject to redemption in whole or (subject to certain conditions) in <br />part on any date upon 120 written days notice to the Owners, <br /> <br />302941vl 8m NE136-163 <br />