5.2b ERMUSR 04-13-2021 - Laserfiche WebLink

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TEMPLATE RESOLUTION EXTRACT OF MINUTES OF MEETING OF THE ELK RIVER MUNICIPAL UTILITIES COMMISSION HELD: April 13,2021 Pursuant to due call and notice thereof, a specialmeeting of the Elk River Municipal Utilities Commission, was duly held in the Elk River Fire Station EOC Conference Room, 13073 Orono Parkway in said Cityon the 13thday ofApril,2021, at 3:30P.M.,for the purpose, in part, ofawarding the sale of$12,620,000Electric Revenue Bonds, Series 2021B. The following members were present: and the following were absent: Member _______________ introduced the following resolution and moved its adoption: RESOLUTION AWARDINGTHE ISSUANCE AND SALE OF $12,620,000ELECTRIC REVENUE BONDS, SERIES 2021BAND PLEDGING NET REVENUES FOR THE SECURITY THEREOF BE IT RESOLVED by the Elk River Municipal Utilities Commission (the Commission), as follows: Section 1.Definitions; Interpretation. For all purposes of this Resolution, except as otherwise expressly provided or unless the context otherwise requires, the terms defined in this section have the meaningsassigned to them in this section. All terms defined in this section include the plural as well as the singular and the female as well as the male. Except as otherwise expressly provided herein, accounting terms not otherwise defined herein have the meanings assigned to them, and all computations herein provided for shall be made, in accordance with generally accepted accounting principles. Accountantmeans a Person engaged in the practice of accounting, retained by the Commission. Actmeans, collectively,Minnesota Statutes, Sections 412.321 through 412.391, and Chapters 453 and 475, including any amendment thereof. Additional Bondsmeans any Bonds issued pursuant to Section 10. Audited Fiscal Yearmeans a Fiscal Year for whichthe financial statements of the Commission have been audited, as required by Section 12(g). EL185-68-707442.v2 387