Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 92 -118 <br /> <br />RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION CALLING FOR THE EARLY REDEMPTION OF <br />$2,290,000 GENERAL OBLIGATION REFUNDING AND <br />IMPROVEMENT BONDS SERIES 1985 <br /> <br />WHEREAS, the Elk River City Council approved Resolution 85-38, <br />authorizing the issuance, awarding the sale, <br />prescribing the form and details and providing for the <br />payment of $2,590,000 General Obligation Refunding and <br />Improvement Bonds Series 1985 dated September 1, 1985; <br /> <br />WHEREAS, the Bonds remaining outstanding mature in the years <br />1993 through 1999; and, <br /> <br />WHEREAS, Section 2.05 of the Resolution states, and the Bonds <br />so provide, that Bonds maturing in the years 1994 <br />through 2000 shall be subject to redemption and <br />prepayment at the option of the issuer on February 1, <br />1993, at a price equal to the principal amount thereof <br />and accrued interest to the date of redemption; and, <br /> <br />WHEREAS, the City Council requests that all outstanding <br />principal and interest be prepaid using funds <br />available due to the prepayment of special assessments <br />in accordance with the terms of the Bonds; and, <br /> <br />WHEREAS, the City Council hereby directs the Paying Agent to <br />proceed with publishing the proper notice as required <br />in the Resolution for early redemption. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City <br />of Elk River that all outstanding $2,590,000 General <br />Obligation Refunding and Improvement Bonds Series 1985 <br />be redeemed on February 1, 1993. <br /> <br />Passed and adopted by the City Council of the City of Elk River <br />this ~3 day of November, 1992. <br /> <br /> <br />Lr~ <br /> <br />James A. Tralle, Mayor <br /> <br />ATTEST: <br /> <br /> <br />erk <br />