HomeMy WebLinkAbout01-192
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CITY OF LAKEVILLE
RESOLUTION
Date October 15, 2001 Resolution No. 01-192
Motion. By Luick Seconded By Bellows
RESOLUTION AUTHORIZING CALL OF CERTAIN OUTSTANDING GENERAL
OBLIGATION IMPROVEMENT BONDS;. AUTHORIZATION OF TRANSFER OF
SURPLUS FUNDS.
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota (the'City), as
follows:
SECTION. 1. The City has issued:
(a) $2,485,000 General Obligation Improvement Refunding Bonds, Series 1991C, dated
as of May 1, 1991 (the 1991C Bonds), of which $900,000 principal amount remains outstanding.
Bonds maturing in the years. 2002 through 2009, aggregating $900,000 in principal amount, are
subject to prepayment on February 1,2002.
• (b) $2,190,000 General Obligation Improvement Bonds, Series 1992A, dated as of
August 1, 1992. (the 1992A Bonds), of which $540,000 principal amount remains outstanding.
Bonds maturing in the years 2002 through 2007, aggregating $540,000 in principal amount, are
subject to prepayment. on February 1, 2002.
(c) $1,340,000 General Obligation Improvement Refunding Bonds, Series 1993C, dated
as of August 1, 1993 (the 1993C Bonds), of which $775,000 principal amount remains
outstanding. Bonds maturing. in the years 2002 through 2010, aggregating $775,000 in principal
amount, are subject to prepayment on February 1, 2002.
(d) $630,000 General Obligation Improvement Refunding Bonds, Series 1993E,: dated as
of December 1, 1993 (the 1993E Bonds), of which $330,000 principal amount remains
outstanding. Bonds maturing in the years 2002 through 2007, aggregating $330,000 in principal
amount, are subject to prepayment on February 1, 2002.
SECTION 2. The City has determined that it is in the. best interests of the City to call the 1991 C
Bonds, the 1992A bonds, the 1993C Bonds and the 1993E Bonds (collectively, the Bonds) for
prepayment on February 1, 2002, upon notice of call for redemption thereof mailed not less than
thirty {30) days before the date specified for redemption to the bank at which the principal and
interest are payable and to the holder of each bond, if known.
.SECTION 3.
• (a) U.S. Bank Trust National Association in St. Paul, Minnesota, successor to First Trust
National Association, in St. Paul, Minnesota as paying agent for the 1991C Bonds, is hereby
• authorized and directed to cause the Notice of Redemption attached hereto as Exhibit. A to be
mailed in accordance with Section 2.
(b) U.S. Bank Trust National Association in St. Paul, Minnesota, successor to First Trust
National Association, in St. Paul,Minnesota as paying agent for the 1992A Bonds, is hereby
authorized and directed to cause the Notice of Redemption attached hereto as Exhibit B to be
mailed in accordance with Section 2.
(c) U.S. Bank Trust National Association in St. Paul, Minnesota, successor. to First Trust
National Association, in St. Paul,. Minnesota as paying agent for the 1993C Bonds, is hereby
authorized and directed to cause the Notice. of Redemption attached hereto as Exhibit C to be
mailed in accordance with Section 2.
(d) Firstar Bank, N.A., Milwaukee, Wisconsin, as agent for Firstar Bank, N.A., St. Paul,
Minnesota, successor to American National Bank and Trust Company, St. Paul, Minnesota, as
paying agent for the 1993E Bonds, is hereby authorized and directed to cause the Notice of
Redemption attached hereto as'Exhibit b to be mailed in accordance with Section 2.
SECTION 4:
(a) The Finance Director is hereby authorized to sell assets of the Bonds, including
Special Assessment Receivables to the Public Works Reserve Fund, as of January 31, 2002.
• (b) Pursuant to Minnesota Statutes, Section 475.61, Subdivision 4, the Finance Director
is hereby authorized to transfer all remaining assets from the Bonds to the Public Works Reserve
Fund after the prepayment of the Bonds.
SECTION 5 No further action shall be required of the City Council to complete the prepayment
of the Bonds.
APPROVED AND ADOPTED this 15~' day of October , 2001.
CITY OF L VII.LE
~ ~
Robert D. Johns~i~t, Mayor
A EST:,:
R
~
Charlene. Friedges, City C~Ter
•
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EXHIBIT A
NOTICE OF REDEMPTION
$2,485.,000 General Obligation Improvement Refunding Bonds, Series 1991C
Dated:'May 1, 1991
City ofLakeville, Dakota County, Minnesota
Notice is hereby given that all Bonds of the above issue which mature on February 1 in the following
years and amounts.:
Year Principal Amount Interest Rate CUSIP Number
2002 $125,000 6.40% 512444 *
2003 125,000 6.50 512444
2004 120,000 6.60 512444
2005 120,000 6.70 512444:
2006 115,000. 6.75 512444
.2007 115,000 6.80 512444
2008 110,000 6.90 512444
2009. 70,000 6.90 512444
are. called for redemption and prepayment on February 1, 2002. The Bonds will be redeemed at a price of
100% of their principal amount plus accrued interest to the date of redemption. Holders of the Bonds
should present them for payment to U.S. Bank Trust National Association, St. Paul, Minnesota, successor
to First Trust National Association,. St. Paul, Minnesota, on or before said date, when they will cease to
• bear interest, in the following manner:
If by Mail: If bX Hand or Overni hg_t Mail:
U.S. Bank Trust National Association U.S. Bank Trust National Association
....(successor to First Trust National Association) (successor to First Trust National Association)
Corporate Trust Operations, 3rd Floor Bond Drop Window, 3rd Floor
Post Office Box 64111 180 East Fifth Street
Saint Paul, MN 55164-0111 Saint Paul, Minnesota 55101
(800)934-6802
In compliance with the Interest and Dividend Compliance Act of 1983 and Broker Reporting
Requirements, the redeeming institutions are required to withhold 31% of the principal amount of your
holdings redeemed unless they are provided with your social security number or federal employer
identification number, properly certified. This requirement is fulfilled through the submitting. of a W-9
Form, which may be obtained at a bank or other financial institution.
*The Registrar shall not be responsible for the selection or use of the CUSIP numbers, nor is any
representation made as to their correctness indicated in this Notice of Redemption or on any Bond. They
are included solely for convenience of the Holders. Denotes. full call of CUSIP.
Additional information maybe. obtained from the undersigned.
Dated: October 15, 200E BYORDER OF THE CITY COUNCIL OF THE
• CITY OF LAKEVILLE, MINNESOTA
/s/
Charlene Friedges, City Clerk
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' EXHIBIT B
i NOTICE OF REDEMPTION
$2,190,000 General Obligation Improvement Bonds, Series 1992A
Dated: August 1, 1992
City of Lakeville,. Dakota County, Minnesota
Notice is hereby given that all Bonds of the above issue which mature on February 1 in the following
years and amounts:
Year Principal Amount Interest Rate CUSIP Number
2002. $90,000 5.40% 512444
2003 90,000 5.60 512444
2004 90,000 5.70 512444
2005 90,000 5.80 512444
2006 90,000 5.90 512444
2007 90,000 6.00 512444
are called for redemption and prepayment on February 1, 2002. The Bonds will be redeemed at a price of
100% of their principal amount plus accrued interest to the date of redemption.. Holders of the Bonds
should present them for payment to U.S. Bank Trust National Association, 5t. Paul, Minnesota, successor
to First Trust National Association, St. Paul, Minnesota, on or before said date, when they wi1L cease to
bear interest, in the following manner:
• If by Mail: ff by Hand or Overni hg~ t Mail:
U.S. Bank Trust National :Association U.S. Bank Trust National Association
(successor to First Trust National Association) (successor to First Trust National Association)
Corporate Trust Operations, 3rd Floor Bond Drop Window, 3rd Floor
Post Office Box 64111 180 East Fifth Street
Saint Paul, MN 55164-0111. Saint Paul, Minnesota 55101
(800)934-6802
In compliance with the Interest and Dividend Compliance Act. of 1983 and Broker Reporting
Requirements, the redeeming institutions are required to withhold 31% of the principal amount of your
holdings redeemed unless they are provided with your social security number orfederal employer
identification number, properly certified. This requirement is fulfilled through the submitting of a W-9
Form, which may be obtained at a bank or other financial institution.
*The Registrar shall. not be responsible for the selection or use of the CUSIP numbers, nor is any.
representation made as to their correctness indicated in this Notice of Redemption or on any Bond. They
are included solely for convenience of the Holders. Denotes full call of CUSIP.
Additional information may be obtained from the undersigned.
Dated: October 15, 200E BY ORDER OF THE CITY COUNCIL OF THE..
CITY OF LAKEVILLE, MINNESOTA
/s/
Charlene Friedges, City Clerk
B-1
EXHIBIT C
• NOTICE OF REDEMPTION
$1,340,000 General Obligation Improvement Refunding Bonds, Series 1993C
Dated: August 1, 1993
• City of Lakeville, Dakota County, Minnesota
Notice is hereby given that all Bonds of the above issue which mature on February 1 in the following
years and amounts:
Year Principal Amount Interest Rate CUSII' Number
2002. _ $85,000 4.50% 512444
2003 85,000 4.70 512444
2004 85,000 4.90 512444
2005 85,000. 5.00 512444
2006 85,000 5.10 512444
2007.. 85,000 5.20 512444
2008 85,000 5.25 512444
2009 90,000 5.30 512444
2010 90,000 5.35 512444
are called for redemption and prepayment on February 1, 2002. The Bonds will be redeemed at a price of
100% of their principal amount plus accrued interest. to the date of redemption. Holders of the Bonds
should present them for payment to U.S. Bank Trust National Association, St. Paul, Minnesota, successor
• to First Trust National Association,. St. Paul, Minnesota,. on or before said date, when they will cease to
bear interest, in the following manner.
If b, .Mail: ff by Hand or Overnight Mail:
U.S. Bank Trust National Association U.S. Bank Trust National Association
(successor to First Trusf National Association) (successor to First Trust National Association)
Corporate Trust Operations, 3rd Floor Bond Drop Window, 3rd Floor
Post Office Box 64111 180 East Fifth Street
Saint Paul, MN 55164-0111 Saint Paul, Minnesota 55101
(800) 934-6802
In compliance with the Interest and Dividend Compliance Act of 1983 and Broker Reporting
Requirements, the redeeming institutions are required to withhold 3I% of the principal amount of your
holdings redeemed unless they are provided with your social security number or federal employer
identification number, properly certified. This requirement is fulfilled through the submitting of a W-9
Form, .which may be obtained at a bank or other financial institution.
*The Registrar. shall not be responsible for the selection or use of the CUSIP numbers, nor is any
representation made as to .their correctness indicated in this Notice of Redemption or on any Bond. They
are included solely for convenience of the Holders. Denotes full call of CUSIP.
Additional information may be obtained from the undersigned.
Dated: October 15, 2001. BY ORDER OF THE CITY COUNCIL OF THE
CITY OF LAKEVILLE, MINNESOTA
/s/
Charlene Friedges, City Clerk
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EXHIBIT D
NOTICE OF REDEMPTION
$630,000 General Obligation Improvement Refunding Bonds, Series 1993E
Dated: December 1, 1993
City of Lakeville, Dakota County, Minnesota
Notice is hereby given that all Bonds of the above issue which mature on February 1 in the following
years and amounts:
Year Princ~al Amount Interest Rate CUSIP Number
2002 $55,000. 4.50% 512444
2003 55,000 4.70 512444
2004 55,000 4.80 512444.
2005: 55,000 4.90 512444
2006 55,000 5.00 512444
2007 55,000 5.00 512444
are called for redemption and prepayment on February 1, 2002. The Bonds will be redeemed at a price,of
100% of their principal amount plus accrued interest to the date of redemption. Holders of the Bonds
should present them for payment to Firstar Bank, N.A., Milwaukee, Wisconsin, as agent for Firstar Bank,
N.A., St. Paul, Minnesota, successor to American National Bank and Trust Company, St. Paul,
Minnesota, at the address below, on or before said date, when they will cease to bear interest It is
recommended that you mail your Bonds registered or certifiedmail to guard against loss.
Firstar Bank, N.A.
Attn: Corporate Trust Services
1555 North River Center Drive, Suite 301
Milwaukee, Wisconsin 53212
In compliance with the Interest and Dividend Compliance Act of 1983 and .Broker Reporting
Requirements, the redeeming institutions are required to withhold 31% of the principal amount of your
holdings redeemed unless they are provided with your social security number or federal employer
identification number, properly certified. This requirement is fulfilled through the submitting of a W-9
Form, which may be obtained at a bank or other financial institution.
*The Registrar shall not be responsible for the selection or use of the CUSIP numbers, noris any
representation made as to their correctness indicated in this Notice of Redemption or on any Bond. They
are included solely for convenience of the Holders. Denotes full call of CUSIP.
Additional information may be obtained from the undersigned.
Dated: October 15, 2001. BY ORDER OF THE CITY COUNCIL OF THE
CITY OF LAKEVILLE, MINNESOTA
/s/
Charlene Friedges, City Clerk
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