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time, in accordance with paragraph 11 hereof. To the <br />extent that the Beneficial Owners are designated as the <br />transferee by the Holders, in accordance with paragraph <br />11 hereof, the Bonds will be delivered to the <br />Beneficial Owners. <br /> <br /> (iii) Nothing in this subparagraph (c) shall <br />limit or restrict the provisions of paragraph 11 <br />hereof. <br /> <br /> (d) Blanket Letter of Representations. The City's <br />execution of the City the Blanket Letter of Representations <br />in substantially the form on file in the offices of the City <br />has heretofore been authorized and is hereby ratified. The <br />provisions in the Blanket Letter of Representations are <br />incorporated herein by reference and made fully a part of <br />this Resolution to the same extent as if set forth in full <br />herein, and if and to the extent that any provisions of this <br />Resolution are inconsistent or in conflict with the <br />provisions of the Blanket Letter of Representations, the <br />provisions in the Blanket Letter of Representations shall <br />control. <br /> <br /> 3. Title; Oriqinal Issue Date; Denominations; <br />Maturities. The Bonds shall be titled "General Obligation <br />Improvement Bonds, Series 1997A," shall be dated August 1, 1997, <br />as the date of original issue and shall be issued forthwith on or <br />after such date as fully registered bonds. The Bonds shall be <br />numbered from R-1 upward in the denomination of $5,000 each or in <br />any integral multiple thereof of a single maturity. The Bonds <br />shall mature on February 1 in the years and amounts as follows: <br /> <br />Years Amounts Years Amounts <br /> <br />1999 $180,000 2007 $75,000 <br />2000 200,000 2008 50,000 <br />2001 190,000 2009 25,000 <br />2002 80,000 2010 15,000 <br />2003 80,000 2011 15,000 <br />2004 75,000 2012 15,000 <br />2005 75,000 2013 15,000 <br />2006 75,000 <br /> <br /> 4. Purpose. The Bonds shall provide funds to finance <br />the Improvements. The total cost of the Improvements, which <br />shall include all costs enumerated in Minnesota Statutes, Section <br />475.65, is estimated to be at least equal to the amount of the <br />Bonds. Work on the Improvements shall proceed with due diligence <br />to completion. <br /> <br /> 5. Interest. The Bonds shall bear interest payable <br />semiannually on February 1 and August 1 of each year (each, an <br />"Interest Payment Date"), commencing August 1, 1998, calculated <br /> <br />358666. ~ 6 <br /> <br /> <br />