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98-130 RES
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98-130 RES
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12/3/2007 2:34:31 PM
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5/3/2002 8:47:06 PM
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City Government
type
RES
date
11/30/1998
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(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 />hereinj' 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 1998A," shall be dated December 1, <br />1998, as the date of original issue and shall be issued forthwith <br />on or after such date as fully registered bonds. The Bonds shall <br />be numbered from R-1 upward in the denomination of $5,000 each or <br />in 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 />2000 $200,000 2005 $80,000 <br />2001 200,000 2006 80,000 <br />2002 200,000 2007 70,000 <br />2003 200,000 2008 70,000 <br />2004 200,000 2009 75,000 <br /> <br /> As may be requested by the Purchaser, one or more term <br />Bonds may be issued having mandatory sinking fund redemption and <br />final maturity amounts conforming to the foregoing principal <br />repayment schedule, and corresponding additions may be made to <br />the provisions of the applicable Bond(s). <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, 1999, calculated <br />on the basis of a 360-day year consisting of twelve 30-day <br />months, at the respective rates per annum set forth opposite the <br />maturity years, as follows: <br /> <br />999~91.1 6 <br /> <br /> <br />
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