7.5. SR 03-15-2010 - Laserfiche WebLink

Home Browse Search

Please insert social security or other identifying number of assignee PRG~XSIGNS AS TG REGISTRATIGN The ownership of the principal of and interest on the within Bond has been registered an the boobs of the Registrar in the name of the person last noted below, Date of Registration Registered owner Cede & Co, Federal ZD # 13 -25 5 5119 Signature of Gfficer of Re~trar 3 , 02, Aug, Legal 0~inion, The City Administrator is authorized and directed to obtain a co ~of the ro osed approving legal opinion of Kennedy & Graven, Chartered, pY p P Minneapolis, Minnesota, which is to be complete except as to dating thereof and cause the opinion to be printed on or accompany each Bond. Section 4, Payment; Security; Pledges and Covenants, 4,01, ~a} Debt Service Fund, The Bonds are payable from the General Gbligation Capital Improvement Plan Bonds, Series 201OA Debt Service Fund the "Debt Service Fund"} hereby created, and the proceeds of ad valorem taxes hereinafter levied the "Taxes"} are hereby pledged to the Debt Service Fund, into which shall be deposited ~i}accrued interest paid by the Purchaser, if any, upon closing and delivery of the Bonds; iii} proceeds of the Taxes herein levied; viii}any additional funds directed to be deposited by the City Administrator, rf the balance in the Debt Service Fund is at any tune insufficient to pay all interest and principal then due on the Bonds payable therefrom, the Council covenants and agrees that it will each yea~~ levy an amount sufficient to take care of any accumulated or anticipated deficiency, which levy is not subject to any limitation as to rate or amount, fib} Escrow Account, Pursuant to an Escrow Agreement, dated as of April 1, 2010, between the City, the Authority, and the Escrow Agent, proceeds of the Bonds in the amount of set forth therein shall be deposited in the Escrow Account to be maintained by the Escrow Agent to be applied to the defeasance and refunding of the Authority's Series 2002A Bonds and the Authority's Series 2002B Bonds, 3bS12Sv1 1SI3I:L18S-11 1~