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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />issued to refund the 1985B Refunded Bonds (the "1985B Refunding <br />Bonds"), respectively; and <br /> <br />G. WHEREAS, there has been presented to the City the form of <br />a certain Escrow Agreement, dated as of May 1, 1993 (the "Escrow <br />Agreement"), which is to be executed and delivered by and between <br />the City and the Escrow Agent thereunder in connection with the <br />issuance of the Bonds and which provides, in accordance with its <br />terms and the terms of this Resolution, for the deposit and <br />investment within the Escrow Account thereunder of proceeds of the <br />Bonds for subsequent disbursement by the Escrow Agent thereunder: <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council (the <br />"Council") of the City of Elk River, Minnesota (the "City"), as <br />follows: <br /> <br />1. AcceDtance of Offer. The offer of <br />(the "Purchaser"), to purchase the City's <br />$ General Obligation Refunding Bonds, Series 1993A <br />(the "Bonds", or individually a "Bond"), at the rates of interest <br />and upon the other terms set forth in this Resolution, and to pay <br />therefor the sum of $ plus interest accrued to <br />settlement, is hereby accepted. <br /> <br />2. Title:> Oriainal Issue Date: Maturities: Denominations. <br />The Bonds shall be titled "General Obligation Refunding Bonds, <br />Series 1993A," shall be dated May 1, 1993, as the date of original <br />issue, and shall be issued forthwith on or after such date as fully <br />registered bonds. The Bonds shall be numbered from R-1 upward in <br />the denomination of $5,000 each or in any integral multiple thereof <br />of a single maturity. The Bonds shall mature on February 1 in the <br />years and amounts (which are hereby allocated to and between the <br />1985A Refunding Bonds and the 1985B Refunding Bonds, respectively) <br />as follows: <br /> <br />Year <br /> <br />1985A <br />Refundina Bonds <br /> <br />1985B <br />Refundina Bonds <br /> <br />Amount <br /> <br />1995 <br />1996 <br />1997 <br />1998 <br /> <br />$ <br /> <br />$ <br /> <br />$ <br /> <br />3. PurDose: Refunding Findings. The Bonds shall provide <br />moneys for a refunding of the City's 1985A Refunded Bonds and its <br />1985B Refunded Bonds. It is hereby found, determined and declared <br />that each such refunding is a crossover refunding pursuant to <br />Minnesota Statutes, Section 475.67, SUbdivisions 3 and 13, is <br /> <br />235883 <br /> <br />3 <br />