95-123
.
.
.
.....
Extract of Minutes of Meeting of the
City Council of the City of Shorewood,
Hennepin County, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the Council of the
City of Shorewood, Minnesota, was duly held in the City Hall in the City of
Shorewood, on Monday, December 11,1995, commencing at 7:30 o'clock 1.M.
The following members were present:
Mayor Bean, Council members Stover, McCarty and Benson
and the following were absent:
Council member Malam
* * *
* * *
* * *
Member
introduced the following resolution and moved its
McCarty
adoption:
RESOLUTION NO. 95-123
RESOLUTION PROVIDING FOR THE PREPAYMENT AND
REDEMPTION OF CERTAIN OUTSTANDING
GENERAL OBLIGATION BONDS OF THE CITY
BE IT RESOLVED By the City Council of the City of Shorewood, Hennepin
County, Minnesota, as follows:
1. The City has issued and sold its General Obligation Improvement Bonds,
Series 1989A, dated October 11, 1989 (Bonds) in the total principal amount of
$1,095,000. Bonds maturing after February 1, 1996, are subject to redemption and
prepayment on that and on any interest payment date thereafter at a price of par
plus accrued interest.
2. It is determined that it is in the best interests of the sound financial
management of the City that Bonds maturing on February 1 in the years 1997 to and
including 2003, comprising all of the Bonds subject to redemption, be prepaid and
redeemed on February 1, 1996 and those Bonds are hereby called for redemption on
that date.
.
.
.
3. The City Administrator/Clerk is authorized and directed to publish, in
accordance with law, a notice of call for redemption of the Bonds in the form attached
hereto as Exhibit A and to mail a copy of the notice to the registrar for the Bonds
and to the original purchaser of the Bonds.
The motion for the adoption of the foregoing resolution was duly seconded by
Member
, and upon vote being taken thereon, the following voted in
Stover
favor thereof:
Mayor Bean, Council members Stover, McCarty and Benson
and the following voted against:
whereupon said resolution was declared duly passed and adopted.
~
,
I , \~ (
"1G.L,-/,--A'-l~B.x(t^'''-
ROBERT B. BEAN, MAYOR
ATTEST:
.
.
.
STATE OF MINNESOTA
)
)
) SSe
)
)
COUNTY OF HENNEPIN
CITY OF SHOREWOOD
I, the undersigned, being the duly qualified and acting City Clerk of the City
of Shorewood, Minnesota, do hereby certify that I have carefully compared the
attached and foregoing extract of minutes of a regular meeting of the City Council
held on December 11, 1995, with the original thereof on file in my office and the same
is a full, true and complete transcript therefrom insofar as the same relates to the
prepayment and redemption of $1,095,000 General Obligation Improvement Bonds,
Series 1989A, of the City.
WITNESS My hand as City Administrator/Clerk and the corporate seal of the
City this 11th day of December, 1995.
City Administrator/Clerk
City of Shorewood, Minnesota
(SEAL)
.
EXHIBIT A
NOTICE OF CALL FOR REDEMPTION
$1,095,000 GENERAL OBLIGATION IMPROVEMENT
BONDS, SERIES 1989A
CITY OF SHOREWOOD,
HENNEPIN COUNTY, MINNESOTA
Notice is hereby given that by order of the City Council of the City of
Shorewood, Minnesota, there have been called for redemption and prepayment on
Feburary 1, 1996 all outstanding Bonds of the City designated as General Obligation
Improvement Bonds, Series 1989A, dated October 1, 1989, and having stated
maturity dates of February 1 in the years 1997 through 2003, both inclusive, totaling
$540,000 in principal amount and with CUSIP numbers as shown below:
MA TURITY RATE CUSIP
February 1, 1997 6.40% 825227 FN6
February 1, 1998 6.50% 825227 FP1
February 1, 1999 6.50% 825227 FQ9
February 1, 2000 6.50% 825227 FR 7
February 1, 2001 6.50% 825227 FS5
February 1, 2002 6.50% 825227 FT3
. February 1, 2003 6.50% 825227 FUO
.
The Bonds are being called at a price of par plus accrued interest to February
1, 1996 on which date all interest on the Bonds will cease to accrue. Holders of the
Bonds hereby called for redemption are requested to present their Bonds for
payment at American Bank National Association, paying agent, in the City of St.
Paul, Minnesota, on or before February 1, 1996.
If by mail or by hand:
American Bank National Association
101 East Fifth Street
St. Paul, MN 55101-1860
BY ORDER OF THE CITY COUNCIL
/s/ James Hurm
City Administrator/Clerk
.
.
.
IMPORTANT NOTICE:
In compliance with the Interest and Dividend Compliance Act of 1983 and
Broker Reporting Requirements, the redeeming institution is required to withhold
a specified percentage of the principal amount of your holdings redeemed unless they
are provided with your social security number or federal employer identification
number, properly certified. This Compliance should be fulfilled through the
submitting of a W-9 Form which may be obtained at a Bank or other Financial
Institution.
The Registrar will not be responsible for the selection or use of the CUSIP
number, nor is any representation made as to its correctness indicated in the
Redemption Notice. It is included solely for the convenience of the Holders.
Additional information may be obtained from:
American Bank National Association
101 East Fifth Street
St. Paul, MN 55101-1860
Dated: December 11, 1995