HomeMy WebLinkAboutResolution - 2020-92 - GO Refunding Bonds Seiries 2020A - 10/06/2020CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2020-92
RESOLUTION RELATING TO $7 ,417 ,000 GENERAL OBLIGATION
REFUNDING BONDS, SERIES 2020A; AUTHORIZING THE
ISSUANCE , AWARDING THE SALE , FIXING THE FORM AND
DETAILS, PROVIDING FOR THE EXECUTION AND DELIVERY
THEREOF AND THE SECURITY THEREFOR AND LEVYING AD
V ALO REM TAXES FOR THE PAYMENT THEREOF
BE IT RESOLVED by the City Council (the "Council ") of the City of Eden Prairie ,
Minnesota (the "City"), as follows:
SECTION 1. RECITALS.
1.01. Authorization. This Council hereby determines it to be in the best interests of the
City to issue and sell $7,417 ,000 principal amount of General Obligation Refunding Bonds ,
Series 2020A, of the City (the "Bonds"), pursuant to Minnesota Statutes , Chapters 429 and 475 ,
as amended, and Section 475.67, to :
(i) currently refund the December 1, 2021 , through December 1, 2025, maturities
(the "Series 20 lOA Refunded Bonds") of the City 's $1 , 190 ,000 General Obligation Permanent
Improvement Revolving Fund Bonds , Series 201 OA (the "Series 20 I OA Bonds "), dated as of
December 1, 2010 , the proceeds of which financed various public improvement projects within
the City pursuant to Minnesota Statutes, Chapters 429 and 475 ;
(ii) currently refund the December 1, 2021 , through December 1, 2025 , maturities
(the "Series 201 lD Refunded Bonds") of the Ci ty's $1 ,805 ,000 General Obligation Permanent
Improvement Revolving Fund Crossover Refunding Bonds , Series 201 lD (the "Series 201 lD"),
dated as of December 1, 2011 , the proceeds of which refinanced th e City's General Obligation
Permanent Improvement Revolving Fund Bonds , Series 2005B ;
(iii) currently refund the January 1, 2022 , through January 1, 2026 , maturities (the
"Series. 2012A Refunded Bonds") of the City 's $5 ,110 ,000 General Obligation Crossover
Refunding Bonds , Series 2012A (the "Series 2012A Bonds"), dated as of March 1, 2012 , the
proceeds of which refinanced the City 's General Obligation Bonds , Series 2005C; and
(iv) currently refund the January 1, 2022, through January 1, 2027 , maturities (the
"Series 2012B Refunded Bonds ") of the City's $3,170 ,000 General Obli gation Capital
Improvement Plan Crossover Refunding Bonds , Series 2012B (the "Series 2009A Bonds "),
dated as of March 1, 2012, the proceeds of which refinanced the City's General Obligation
Capital Improvement Plan Bonds , Series 2006B.
The Series 201 OA Refunded Bonds , Series 2011 D Refunded Bonds , Series 2012A
Refunded Bonds , and Series 2012B Refunded Bonds are collecti vel y referred to herein as the
"Refunded Bonds."
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The portion of the Bonds used to refund the Series 201 OA Refunded Bonds and Series
201 lD Refunded Bonds is referred to herein as the "Special Assessment Bonds." The portion of
the Bonds used to refund the Series 2012A Refunded Bonds and Series 2012B Refunded Bonds
is referred to herein as the "Ad Valorem Tax Bonds."
The Series 2010A Refunded Bonds and Series 201 lD Refunded Bonds will be redeemed
on December 1, 2020 (the "2010A Redemption Date" and the "201 lD Redemption Date"), and
the principal and interest payments on the Series 201 OA Bonds and Series 2011 D Bonds not
constituting Refunded Bonds will be paid at maturity from the debt service funds for the
respect ive series of bonds.
The Series 2012A Refunded Bonds and Series 2012B Refunded Bonds will be redeemed
on January 1, 2021 (the "2012A Redemption Date" and the "2012B Redemption Date"), and the
principal and interest payments on the Series 2012A Bonds and Series 2012B Bonds not
constituting Refunded Bonds will be paid at maturity from the debt service funds for the
respective series of bonds.
The refunding is being carried out for the purpose described in Minnesota Statutes,
Section 475 .67, subdivision 3, section (b)(2)(i) and in compliance with Minnesota Statues,
Chapter 475. The City anticipates substantial debt service savings to result from the refunding of
the Refunded Bonds.
1.02 . Sale of Bonds . The City has retained Ehlers & Associates, Inc., an independent
municipal advisor ("Ehlers"), to assist the City in connection with the sale of the Bonds. The
Bonds are being sold pursuant to Minnesota Statutes, Section 475.60, Subdivision 2 ,
paragraph (9), without meeting the requirements for public sale under Minnesota Statutes,
Section 475 .60, Subdivision 1. The Council has received a proposal from U.S. Bank National
Association, in New York, New York (the "Purchaser"), to purchase the Bonds at a price of
$7,417,000 plus accrued interest, if any, on all Bonds to the day of delivery and payment, on the
further terms and conditions hereinafter set forth .
1.03. Award . The sale of the Bonds is hereby awarded to the Purchaser, and the Mayor
and City Manager are hereby authorized and directed to execute a contract on the part of the City
with the Purchaser for the sale of the Bonds in accordance with the Preliminary Term Sheet.
The Mayor and City Manager are hereby authorized to enter into a Continuing Covenant
Agreement with Purchaser establishing such other terms and conditions for the sale of the Bonds
as are acceptable to such officers.
SECTION 2. FORM OF BONDS. The Bonds shall be prepared in substantially the form
attached as Exhibit A hereto.
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SECTION 3. BOND TERMS, EXECUTION AND DELIVERY.
3.01. Issuance of Bonds. All acts , conditions and things which are required by the
Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be
performed precedent to and in the valid issuance of the Bonds having been done, now existing,
having happened and having been performed, it is now necessary for the Council to establish the
form and terms of the Bonds, to provide security therefor and to issue the Bonds forthwith .
3.02 . Maturities, Interest Rates, Denominations, Payment. The Bonds shall be originally
dated as of the date of issuance thereof, shall be in the denomination of $100 ,000 each, or any
integral multiple of $1,000 in excess thereof, of single maturities , shall mature on December 1 in
the years and amounts stated below, and shall bear interest from the date of original issue until
paid or duly called for redemption at the annual rates set forth opposite such years and amounts
(except as otherwise provided below in this Section 3.02), as follows:
Year
2025
Amount
$ 7 ,417,000
Rate
0.850%
Upon the occurrence of an Event of Default, as defined in the Continuing Covenant Agreement
between the Purchaser and the City relating to the Bonds , the Bonds shall bear interest at the
Default Rate, as provided in the Continuing Co venant Agreement. Interest accruing at the
Default Rate shall be payable to the Purchaser upon demand.
The Bonds shall be issuable only in fully registered form . The interest thereon and , upon
surrender of each Bond at the principal office of the Registrar (as hereinafter defined), the
principal amount thereof, shall be payable by check or draft issued by the Registrar .
3.03. Dates ; Interest Payment Dates . Upon initial delivery of the Bonds pursuant to
Section 3 .07 and upon any subsequent transfer or exchange pursuant to Section 3.06, the date of
authentication shall be noted on each Bond so delivered, exchanged or transferred . Interest on
the Bonds shall be payable each June 1 and December 1, commencing June 1, 2021 (each such
date , an "Interest Payment Date "), to the person in whose name the Bonds are registered on the
Bond Register (as hereinafter defined) at the Registrar's close of business on the fifteenth day of
the calendar month next preceding such Interest Payment Date, whether or not such day is a
business day. Interest shall be computed on the basis of a 360-day year composed of twelve 30 -
day months .
3.04 . Redemption. The Bonds are not subject to optional redemption and prepayment
prior to maturity .
The Bonds shall be subject to mandatory redemption prior to maturity pursuant to the
sinking fund requirements of this Section 3 .04 at a redemption price equal to the stated principal
amount thereof plus interest accrued thereon to the redemption date , without premium. The
Registrar shall select for redemption , by lot or other manner deemed fair , on December 1 in each
of the following years the following stated principal amounts of such Bonds:
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Term Bond Maturing in 2025
Sinking Fund Aggregate
Payment Date Principal Amount
2021
2022
2023
2024
2025 (final maturity)
$ 1,446,000
1,486,000
1,486,000
1,489,000
1,510,000
Prior to the date specified for the redemption of any Bond prior to its stated maturity date,
the City will cause notice of the call for redemption to be published if and as required by law,
and, at least thirty days prior to the designated redemption date, will cause notice of the call to be
mailed by first class mail, to the registered owner of any Bond to be redeemed at the owner's
address as it appears on the Bond Register maintained by the Registrar, but no defect in or failure
to give such mailed notice of redemption shall affect the validity of proceedings for the
redemption of any Bond not affected by such defect or failure. Official notice of redemption
having been given as aforesaid, the Bonds or portions of Bonds so to be redeemed shall, on the
redemption date, become due and payable at the redemption price therein specified, and from
and after such date (unless the City shall default in the payment of the redemption price) such
Bonds or portions of such Bonds shall cease to bear interest. Upon partial redemption of any
Bond, the registered owner of such Bond will not be required to surrender such Bond in
connection with such redemption. In such case the Registrar shall maintain in the Bond Register
the outstanding principal amount of such Bond following such partial redemption. Upon
repayment of the Bonds in full, the Bonds shall be delivered by the registered owners to the
Registrar in connection with such repayment.
3.05 . Appointment of Initial Registrar. The City hereby appoints the Finance Manager,
as the initial bond registrar, transfer agent and paying agent (the "Registrar"). The City agrees to
pay the reasonable and customary charges of the Registrar for the services performed. The City
reserves the right to remove the Registrar upon thirty days' notice and upon the appointment of a
successor Registrar, in which event the predecessor Registrar shall deliver all cash and Bonds in
its possession to the successor Registrar and shall deliver the Bond Register to the successor
Registrar.
3 .06 . Registration . The effect of registration and the rights and duties of the City and the
Registrar with respect thereto shall be as follows:
(a) Register. The Registrar shall keep at its office a bond register in which the
Registrar shall provide for the registration of ownership of Bonds and the registration of
transfers and exchanges of Bonds entitled to be registered , transferred or exchanged.
(b) Transfer of Bonds. Upon surrender for transfer of any Bond duly
endorsed by the registered owner thereof or accompanied by a written instrument of
transfer , in form satisfactory to the Registrar, duly executed by the registered owner
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thereof or by an attorney duly authorized by the registered owner in writing , the Registrar
shall authenticate and deliver, in the name of the designated transferee or transferees, one
or more new Bonds of a like aggregate principal amount and maturity, as requested by
the transferor. The Registrar may, however, close the books for registration of any
transfer after the fifteenth day of the month preceding each interest payment date and
until such interest payment date.
( c) Exchange of Bonds. Whenever any Bond is surrendered by the registered
owner for exchange , the Registrar shall authenticate and deliver one or more new Bonds
of a like aggregate principal amount and maturity, as requested by the registered owner or
the owner's attorney duly authorized in writing .
( d) Cancellation. All Bonds surrendered upon any transfer or exchange shall
be promptly cancelled by the Registrar and thereafter disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When any Bond is presented to the
Registrar for transfer, the Registrar may refuse to transfer the same until it is satisfied that
the endorsement on such Bond or separate instrument of transfer is legally authorized .
The Registrar shall incur no liability for its refusal, in good faith , to make transfers which
it, in its judgment, deems improper or unauthorized .
(f) Persons Deemed Owners . The City and the Registrar may treat the person
in whose name any Bond is at any time registered in the bond register as the absolute
owner of such Bond, whether such Bond shall be overdue or not , for the purpose of
receiving payment of, or on account of, the principal of and interest on such Bond and for
all other purposes, and all such payments so made to any such registered owner or upon
the owner 's order shall be valid and effectual to satisfy and discharge the liability of the
City upon such Bond to the extent of the sum or sums so paid.
(g) Taxes, Fees and Charges. For every transfer or exchange of Bonds
(except for an exchange upon a partial redemption of a Bond), the Registrar may impose
a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee or
other governmental charge required to be paid with respect to such transfer or exchange.
(h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bond shall
become mutilated or be lost , stolen or destroyed , the Registrar shall deliver a new Bond
of like amount , number , maturity date and tenor in exchange and substitution for and
upon cancellation of any such mutilated Bond or in lieu of and in substitution for any
such Bond lost , stolen or destroyed, upon the payment of the reasonable expenses and
charges of the Registrar in connection therewith ; and , in the case of a Bond lost, stolen or
destroyed , upon filing with the Registrar of evidence satisfactory to it that such Bond was
lost, stolen or destroyed, and of the ownership thereof, and upon furnishing to the
Registrar of an appropriate bond or indemnity in form , substance and amount satisfactory
to it , in which both the City and the Registrar shall be named as obligees. All Bonds so
surrendered to the Registrar shall be cancelled by it and evidence of such cancellation
shall be given to the City. If the mutilated , lost , stolen or destroyed Bond has already
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matured or been called for redemption in accordance with its terms , it shall not be
necessary to issue a new Bond prior to payment.
3 .07. Execution, Authentication and Delivery. The Bonds shall be prepared under the
direction of the City Manager and shall be executed on behalf of the City by the signatures of the
Mayor and City Manager, provided that the signatures may be printed, engraved or lithographed
facsimiles of the originals. In case any officer whose signature or a facsimile of whose signature
shall appear on the Bonds shall cease to be such officer before the delivery of any Bond, such
signature or facsimile shall nevertheless be valid and sufficient for all purposes , the same as if
such officer had remained in office until delivery. Notwithstanding such execution, no Bond
shall be valid or obligatory for any purpose or entitled to any security or benefit under this
Resolution unless and until a certificate of authentication on the Bond has been duly executed by
the manual signature of an authorized representative of the Registrar. Certificates of
authentication on different Bonds need not be signed by the same representativ e . The executed
certificate of authentication on each Bond shall be conclusive evidence that it has been
authenticated and delivered under this Resolution . When the Bonds have been prepared,
executed and authenticated, the City Manager shall deliver them to the Purchaser upon payment
of the purchase price in accordance with the contract of sale heretofore executed , and the
Purchaser shall not be obligated to see to the application of the purchase price .
SECTION 4 . REFUNDING; SECURITY PROVISIONS.
4.01. Refunding .
(a) Series 2010A Refunding . Proceeds of the Bonds in the amount of $455 ,000.00
shall be deposited in the sinking fund established for the Series 201 OA Bonds to be applied to the
redemption of the Series 201 OA Refunded Bonds on the 201 OA Redemption Date , and proce eds
of the Bonds in the amount of $4 ,000.00 shall be used to pay costs of issuance of the portion of
the Bonds that refund the Series 201 OA Refunded Bonds ;
(b) Series 201 lD Refunding. Proceeds of the Bonds in the amount of $870,000.00
shall be deposited in the sinking fund established for the Series 201 lD Bonds to be applied to the
re demption of the Series 2011 D Refunded Bonds on the 2011 D Redemption Date , and proceeds
of the Bonds in the amount of $6,755.70 shall be used to pay costs of issuance of the portion of
the Bonds that refund the Series 201 lD Refunded Bonds .
(c) Series 2012A Refunding . Proceeds of the Bonds in the amount of $4 ,375 ,000 .00
shall be deposited in the sinking fund established for the Series 2012A Bonds to be applied to the
redemption of the Series 2012A Refunded Bonds on the 2012A Redemption Date , and proceeds
of the Bonds in the amount of $33,000.00 shall be used to pay costs of issuance of the portion of
the Bonds that refund the Series 2012A Refunded Bonds.
(d) Series 2012B Refunding. Proceeds of the Bonds in the amount of $1 ,660 ,000 .00
shall be deposited in the sinking fund established for the Series 2012B Bonds to be applied to the
redemption of the Series 2012B Refunded Bonds on the 2012B Redemption Date , and proceeds
of the Bonds in the amount of $12 ,744.30 shall be used to pay costs of issuance of the portion of
the Bonds that refund the Series 2012B Refunded Bonds.
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4.02. General Obligation Refunding Bonds, Series 2020A Bond Fund. The Bonds shall
be payable from a separate General Obligation Refunding Bonds , Series 2020A Bond Fund (the
"Bond Fund") of the City, which shall be created and maintained on the books of the City as a
separate debt redemption fund until the Bonds, and all interest thereon, are fully paid. Within the
Debt Service Account (as defined below) of the Bond Fund shall be created the following
subaccounts:
(a) Special Assessment Bonds Subaccount. Into the Special Assessment Bonds
Subaccount shall be deposited:
L any funds received from the Purchaser upon delivery of the Bonds in excess of the
amounts specified in Sections 4.0l(a) and (b) above ;
IL $244 .30, representing a rounding amount for the Special Assessment Bonds ;
m. all excess amounts on deposit in the respective debt service funds maintained for
the payment of the Series 2 010A Refunded Bonds and Series 201 lD Refunded
Bonds upon the retirement of such obligations on their respective Redemption
Date ;
IV . any special assessments collected pursuant to Section 4.04 hereof;
v. any taxes collected pursuant to Section 4 .05 hereof and allocable to the Special
Assessment Bonds; and
vi. any other funds appropriated by this Council for the payment of the Sp ecial
Assessment Bonds.
(b) Ad Valorem Tax Bonds Subaccount. Into the Ad Valorem Tax Bonds
Subaccount shall be deposited:
i. any funds received from the Purchaser upon delivery of the Bonds in excess of the
amounts specified in Sections 4.0l(c) and (d) above ;
IL $255.70 , repre senting a rounding amount for the Ad Valorem Tax Bonds;
111. all excess amounts on deposit in the respective debt service funds maintained for
the payment of the Series 2012A Refunded Bonds and Series 2012B Refunded
Bonds upon the retirement of such obligations on their respectiv e Redemption
Date ;
IV. any taxes collected pursuant to Section 4.05 hereof and allocable to the Ad
Valorem Tax Bonds ; and
v. any other funds appropriated by this Council for the payment of the Ad Valorem
Tax Bonds.
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There are hereby established two accounts in the Bond Fund, designated as the "Debt
Service Account" and the "Surplus Account." All money appropriated or to be deposited in the
Bond Fund shall be deposited as received into the Debt Service Account. On each December 1,
the Finance Manager shall determine the amount on hand in the Debt Service Account. If such
amount is in excess of one-twelfth of the debt service payable from the Bond Fund in the
immediately preceding 12 months, the Finance Manager shall promptly transfer the amount in
excess to the Surplus Account. The City appropriates to the Surplus Account any amounts to be
transferred thereto from the Debt Service Account as herein provided and all income derived
from the investment of amounts on hand in the Surplus Account. If at any time the amount on
hand in the Debt Service Account is insufficient to meet the requirements of the Bond Fund, the
Finance Manager shall transfer to the Debt Service Account amounts on hand in the Surplus
Account to the extent necessary to cure such deficiency.
If the balance in the Bond Fund is at any time insufficient to pay all interest and principal
then due on all Bonds payable therefrom, the payment shall be made from any fund of the City
which is available for that purpose, subject to reimbursement from the Surplus Account when the
balance therein is sufficient, and the City covenants and agrees that it will each year levy a
sufficient amount of ad valorem taxes to take care of any accumulated or anticipated deficiency,
which levy is not subject to any constitutional , statutory or charter limitation.
4.03. Levy of Special Assessments . The City hereby covenants and agrees that , for the
payment of the costs of the projects refinanced by the Special Assessment Bonds, the City has
levied special assessments against all assessable lots, tracts and parcels of land benefited thereby
and located within the area proposed to be assessed therefor , based upon the benefits received by
each such lot , tract or parcel, in an aggregate principal amount not less than twenty percent
(20%) of the cost of the improvements. In the event that any such assessment shall be at any
time held invalid with respect to any lot , piece or parcel of land , due to any error, defect or
irregularity in any action or proceeding taken or to be taken by the City or this Council or any of
the City's officers or employees, either in the making of such assessment or in the performance
of any condition precedent thereto, the City and this Council hereby covenant and agree that they
will forthwith do all such further acts and take all such further proceedings as may be required by
law to make such assessments a valid and binding lien upon such property.
4.04. Pledge of Taxing Power. For the prompt and full payment of the principal of and
interest on the Bonds as such payments respectively become due, the full faith, credit and
unlimited taxing powers of the City shall be and are hereby irrevocably pledged. In order to
produce aggregate amounts which, together with the collections of other amounts as set forth in
Section 4.02, will produce amounts not less than 5% in excess of the amounts needed to meet
when due the principal and interest payments on the Bonds, ad valorem taxes are hereby levied
on all taxable property in the City, the taxes to be levied and collected in the following years and
amounts:
Levy Years Collection Years Amount
See attached schedules
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The taxes shall be irrepealable as long as any of the Bonds are outstanding and unpaid,
provided that the City reserves the right and power to reduce the tax levies from other legally
available funds, in accordance with the provisions of Minnesota Statutes, Section 475.61.
SECTION 5. DEFEASANCE. When all of the Bonds have been discharged as provided
in this section, all pledges, covenants and other rights granted by this resolution to the holders of
the Bonds shall cease. The City may discharge its obligations with respect to any Bonds which
are due on any date by depositing with the paying agent on or before that date a sum sufficient
for the payment thereof in full; or, if any Bond should not be paid when due, it may nevertheless
be discharged by depositing with the paying agent a sum sufficient for the payment thereof in
full with interest accrued to the date of such deposit. The City may also at any time discharge its
obligations with respect to any Bonds , subject to the provisions of law now or hereafter
authorizing and regulating such action, by depositing irrevocably in escrow, with a bank or trust
company qualified by law as an escrow agent for this purpose, cash or securities which are non-
callable general obligations of the United States or securities of United States agencies which are
authorized by law to be so deposited, bearing interest payable at such time and at such rates and
maturing on such dates as shall be required, without reinvestment, to pay all principal and
interest to become due thereon to maturity.
SECTION 6 . REGISTRATION, CERTIFICATION OF PROCEEDINGS,
INVESTMENT OF MONEYS AND ARBITRAGE .
6.01. Registration. The City Clerk is hereby authorized and directed to file a certified
copy of this resolution with the County Auditor of Hennepin County, together with such other
information as he shall require , and to obtain from the County Auditor a certificate that the
Bonds have been entered on his bond register and that the tax required for the payment thereof
has been levied and filed as required by law.
6.02. Certification of Proceedings. The officers of the City are hereby authorized and
directed to prepare and furnish to the Purchaser and to Dorsey & Whitney LLP , Bond Counsel,
certified copies of all proceedings and records of the City relating to the Bonds and to the
financial condition and affairs of the City, and such other affidavits , certificates and information
as may be required to show the facts relating to the legality and marketability of the Bonds as the
same appear from the books and records in their custody and control or as otherwise known to
them, and all such certified copies , certificates and affidavits , including any heretofore furnished ,
shall be deemed representations of the City as to the correctness of all statements contained
therein.
6.03. Covenant. The City covenants and agrees with the holders from time to time of the
Bonds that it will not take or permit to be taken by any of its officers , employees or agents any
action which would cause the interest on the Bonds to become subject to taxation under the
Internal Revenue Code of 1986 , as amended (the "Code"), and Regulations promulgated
thereunder (the "Regulations"), as such are enacted or promulgated and in effect on the date of
issue of the Bonds, and covenants to take any and all actions within its powers to ensure that the
interest on the Bonds will not become subject to taxation under such Code and Regulations. The
improvements refinanced by the Bonds will be owned and maintained by the City and available
for use by members of the general public on a substantially equal basis. The City shall not enter
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into any lease, use or other agreement with any non-governmental person relating to the use of
such improvements or security for the payment of the Bonds which might cause the Bonds to be
considered "private activity bonds " or "private loan bonds" within the meaning of Section 141 of
the Code . The Bonds are being issued as "qualified 501(c)(3) bonds" within the meaning of
Section 145 of the Code due to anticipated use of the facilities refinanced by the Bonds by other
governmental entities; certain youth hockey associations including the Eden Prairie Hockey
Association and other organizations described in Section 501(c)(3) of the Code .
6.04. Arbitrage Certification . The Mayor and City Clerk , being the officers of the City
charged with the responsibility for issuing the Bonds pursuant to this resolution, are authorized
and directed to execute and deliver to the Purchaser a certificate in accordance with the
provisions of Section 148 of the Code, and Section l.148 -2(b )(2) of the Regulations , statin g the
facts and estimates in existence on the date of issue and delivery of the Bonds which make it
reasonable to expect that the proceeds of the Bonds will not be used in a manner that would
cause the Bonds to be arbitrage bonds within the meaning of said Code and Regulations.
6 .05. Arbitrage Rebate. The City acknowledges that the Bonds may be subject to the
rebate requirements of Section 148(£) of the Code . The City covenants and agrees to retain such
records, make such determinations , file such reports and documents and pay such amounts at
such times as are required under said Section 148(£) and applicable Regulations to preserve the
exclusion of interest on the Bonds from gross income for federal income tax purposes , unles s the
Bonds qualify for an exception from the rebate requirement pursuant to one of the spending
exceptions set forth in Section 1.148-7 of the Regulations and no "gross proceeds " of the Bonds
(other than amounts constituting a "bona fide debt service fund ") arise during or after the
expenditure of the original proceeds thereof.
6.06 . Qualified Tax Exempt Obligations. The City Council hereb y designates the Bonds
as "qualified tax-exempt obligations " for purpos es of Section 265(b)(3) of the Code relating to
the disallowance of interest expense for financial institutions , and hereby finds that the
reasonably anticipated amount of tax-exempt governmental obligations (within the meaning of
Section 265(b)(3) of the Code) which will be issued by the City and all subordinate entities
during calendar year 2020 doe s not exceed $10 ,000 ,000.
6.07. Continuing Disclosure . Upon request , and pursuant to any agreement with the
Purchaser, the City will provide to Purchaser certain financial information, which shall be
limited to the following: the information in the City's audited financial statements , which shall
be for the most recent fiscal year of the City (the "Disclosure Information"). The City shall (i)
provide such Disclosure Information at the same time as or later than any equivalent disclosure
information, relating to any outstanding obligations of the City , that the City is required to
provide to the Municipal Securities Rulemaking Board (the "MSRB ") through its Electronic
Municipal Market Access System ("EMMA"), or (ii) pro vide the Disclosure Information to the
MSRB through EMMA on the same date as the City provides such Disclosure Information to
Purchaser.
SE CTION 7. AUTHORIZATION OF PAYMENT OF CERTAIN COSTS OF
ISSUANCE OF THE BONDS . The City authorizes the Purchaser to forward the amount of
Bond proceeds allocable to the payment of issuance expenses to Old National Bank on the
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closing date for further distribution as directed by the City 's municipal advisor, Ehlers &
Associates, Inc.
SECTION 8. REDEMPTION OF REFUNDED BONDS . The City Clerk is hereby
directed to advise Wells Fargo Bank, National Association, as paying agent for the Refunded
Bonds , to call the Refunded Bonds for redemption and prepayment on the respective Redemption
Dates, and to give thirty days' mailed Notice of Redemption, substantially in the form attached
hereto , all in accordance with the provisions of the resolutions authorizing the issuance of the
Refunded Bonds.
ADOPTED by the Eden Prairie City Council on this 6th day of October, 2020.
17',/ ~ -e--z---
Ronald A. Case, Mayor
ATTEST:
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R-1
EXHIBIT A
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF EDEN PRAIRIE
GENERAL OBLIGATION REFUNDING BOND, SERIES 2020A
Interest Rate Maturity Date Date of Original Issue
0.850% December 1, 2025 October 28, 2020
REGISTERED OWNER: U.S . BANK NATIONAL ASSOCIATION
$7,417,000
PRINCIPAL AMOUNT: SEVEN MILLION FOUR HUNDRED SEVENTEEN THOUSAND
DOLLARS
THE CITY OF EDEN PRAIRIE, Hennepin County, Minnesota (the "City"), acknowledges itself
to be indebted and , for value received , hereby promises to pay to the registered owner above named , the
principal amount indicated above , on the maturity date specified above , with interest thereon from the
date of original hereof specified above at the annual rate specified above computed on the basis of a 360-
day year consisting of twelve 30-day months , payable on June 1 and December 1 in each y ear,
commencing June 1, 2021 , to the person in whose name this Bond is registered at the close of business on
the 15th day (whether or not a business day) of the immediately preceding month, all subject to the
provisions referred to herein with respect to the redemption of the principal of this Bond before maturity.
Upon the occurrence of an Event of Default , as defined in the Continuing Covenant Agreement between
the City and U .S. Bank National related to the Bonds , the Bonds shall bear interest at the Default Rate , as
provided in such Continuing Covenant Agreement. The interest he reon and the principal hereof are
payable in lawful money of the United States of America by check or draft of the Finance Manager of the
City, as Bond Registrar , Transfer Agent and Paying Agent (the "Bond Registrar"), or its successor
designated under the Resolution described herein.
This Bond is one of an issue in the aggregate principal amount of $7 ,417,000 (the "Bonds "), all of
like date and tenor except as to serial number, interest rate, redemption privilege and maturity date , issued
pursuant to a resolution adopted by the City Council on October 6, 2020 (the "Resolution ") to currently
refund certain general obligation bonds of the City, and is issued pursuant to and in full conformity with
the provisions of the Constitution and laws of the State of Minnesota thereunto enabling, including
Minnesota Statutes, Chapters 429 and 475 , as amended, and Section 4 75.67. For the full and prompt
payment of the principal of and interest on the Bonds as the same become due , the full faith , credit and
taxing power of the City have been and are hereby irrevocably pledged. The Bonds are issuable only in
fully registered form , in the denomination of $100 ,000 or any integral multiple of $1 ,000 m excess
thereof, of single maturities .
The Bond s are not s ubject to optional redemption and prepayment prior to maturity.
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48 20-5 790-6122\8
The Bonds shall be subject to mandatory redemption prior to maturity pursuant to the sinking
fund requirements of the Resolution at a redemption price equal to the stated principal amount thereof
plus interest accrued thereon to the redemption date , without premium . The Registrar shall select for
redemption, by lot or other manner deemed fair , on December 1 in each of the following years the
following stated principal amounts of such Bonds:
Tenn Bond Maturing in 2025
Sinking Fund Aggregate
Payment Date Principal Amount
2021
2022
2023
2024
2025 (final maturity)
$ 1,446 ,000
1,486,000
1,4 86,000
1,489,000
1,510,000
Prior to the date specified for the redemption of any Bond prior to its stated maturity date , the
City will cause notice of the call for redemption to be published if and as required by law , and , at least
thirty days prior to the designated redemption date , will cause notice of the call to be mailed by first class
mail, to the registered owner of any Bond to be redeemed at the owner's address as it appears on the Bond
Register maintained by the Registrar, but no defect in or failure to give such mailed notice of redemption
shall affect the validity of proceedings for the redemption of any Bond not affected by such defect or
fai lure. Official notice of redemption having been given as aforesaid, the Bonds or portions of Bonds so
to be redeemed sha ll , on the redemption date , become due and payable at the redemption price therein
specified, and from and after such date (unless the City shall default in the payment of the redemption
price) such Bonds or portions of such Bonds shall cease to bear interest. Upon partial redemption of any
Bond, the registered owner of such Bond will not be required to surrender such Bond in connection with
such redemption . In such case the Registrar shall maintain in the Bond Register the outstanding principal
amount of such Bond following such partial redemption. Upon repayment of the Bonds in full , the Bonds
shall be delivered by the registered owners to the Re g istrar in connection with such repayment.
The Bonds have been designated as "qualified tax-exempt obligations" pursuant to Section 265(b)
of the Internal Revenue Code of 1986 , as amended.
As provided in the Resolution and subject to certain limitations set forth therein, this Bond is
transferable upon the books of the City at the principal office of the Bond Registrar, by the registered
owner hereof in person or by his attorney duly authorized in writing upon surrender hereof together with a
written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or
his attorney; and may also be surrendered in exchange for Bonds of other authorized denominations .
Upon such transfer or exchange, the City will cause a new Bond or Bonds to be issued in the name of th e
transferee or registered owner, of the same aggregate principal amount, bearing interest at the same rate
and maturing on the same date, subject to reimbursement for any tax, fee or governmental charge required
to be paid with respect to such transfer or exchange.
The City and the Bond Registrar may deem and treat the person in whose name this Bond is
registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose of recei vi ng
payment and for all other purposes, and neither the City nor the Bond Registrar shall be affected by any
notice to the contrary.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts,
conditions and things required by the Constitution and laws of the State of Minnesota to be done , to exist,
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4820-5790-6122 \8
to happen and to be performed precedent to and in the issuance of this Bond in order to make it a valid
and binding general obligation of the City according to its terms have been done , do exist, have happened
and have been performed as so required; that prior to the issuance hereof the City has by the Resolution
levied or agreed to levy special assessments on property specially benefitted by the improvements
refinanced by the Bonds and covenanted and agreed to collect and apply to payment of the Bonds ad
valorem taxes levied on all taxable property in the City, which taxes and assessments are estimated to be
collectible in years and amounts sufficient to produce sums not less than 5% in excess of the principal of
and interest on the Bonds when due , and has appropriated such assessments and taxes to its General
Obligation Refunding Bonds, Series 2020A Bond Fund for the payment of such principal and interest;
that if necessary for the payment of such principal and interest, additional ad valorem taxes are required to
be levied upon all taxable property in the City, without limitation as to rate or amount; that all
proceedings relative to the projects financed by this Bond have been or will be taken according to law and
that the issuance of this Bond, together with all other indebtedness of the City outstanding on the date
hereof and on the date of its actual issuance and delivery, does not cause the indebtedness of the City to
exceed any constitutional or statutory limitation of indebtedness.
This Bond shall not be valid or become obligatory for any purpo se or be entitled to any security
or benefit under the Resolution until the Certificate of Authentication hereon shall have been executed by
manual signature of the authorized representative of the Bond Registrar.
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4820-5790-6 122 \8
IN WITNESS WHEREOF, the City of Eden Prairie, Hennepin County, State of Minnesota, by its
City Council, has caused this Bond to be executed by the signatures of the Mayor and the City Clerk and
has caused this Bond to be dated as of the date set forth below.
CITY OF EDEN PRAIRIE, MINNESOTA
(Facsimile Signature -Mayor)
CERTIFICATE OF AUTHENTICATION
This is one of the Bonds delivered pursuant to the Resolution mentioned within .
Date of Authentication:
4820-5790-6 122 \8
FINANCE MANAGER,
as Bond Registrar
Finance Manager
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The following abbreviations , when used in the inscription on the face of this Bond , shall be
construed as though they were written out in full according to the applicable laws or regulations:
TEN COM --as tenants in common UTMA ................. as Custodian for ................ ..
(Cust) (Minor)
TEN ENT --as tenants by the entireties under Uniform Transfers to Minors Act .......................... .
(State)
JT TEN --as joint tenants with right of survivorship and not as tenants in common
Additional abbreviations may also be used.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and does hereby
irrevocably constitute and appoint attorney to transfer the said Bond
on the books kept for registration of the within Bond , with full power of substitution in the premi ses.
NOTICE: The assignor's signature to this assignment must
correspond with the name as it appears upon the face of the
within Bond in every particular, without alteration or
enlargement or any change whatsoever.
Signature Guaranteed: ___________ _
Signature(s) must be guaranteed by an "eligible guarantor
in stitution" meetin g the require ments of the Registrar,
which requirements include membership or participation
in ST AMP or such other "signature guaranty program " as
may be determined by the Registrar in addition to or in
substitution for STAMP, a ll in accordance with the
Securities Exchange Act of 1934 , as amended .
Please insert social security or other id entifying number of assignee: _________ _
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4820-5790 -6 122 \8
TAX I.EVY CA L CULAno r~
Exhibit B
TAX LEVIES
tssue IDB
_.c..,ttv...,.o ... f ..,E-.den--.P..,r.,.a .. · ...,ie ........ N.._ _______________ Dated Date~
$7,417,000 Ge.ne ral o igation Refun 1rog Bonds, series 2020A Cil I Da te:
339111
1 0/28/2020
on-<111 able
$6,081,000 current RE'fund ing • Seiies2012A Refu n ng Portio n I ()u re t IRenmding ·:Ser ies 20128 C1P Refu n di ng Po n
Tax TilC Bo nd
Levy Coll&t Pay
Y~a r Year Yea r TOtal P&I Fu nd5 AVllila le !1'1 e t Le~
0 0 I 2021 I 2 21 1,246,426.62 (2-55 .701 1 ,30s,4 79.4
2021 I 2022 I 2022 1,259,573.SO 1,322,552.18
0 2 I 023 J 2CIH 1,249,220.SO 1 ,311,6-1~1 .'53 1 ,31 6S l .53
2023 I 2024 J 2024 1,236,867.SO 1 ,2.9 8, 710 .88 1 ,29 8,710.BS
0 ol I 025 I 2 25 1 ,249,531-5 0 1,u ,OOB .00 1 ,3 1 ~00S
Totals ~2"1,619 .'62 (2.55 .70 1 16,553,432.12 6,,553,432.12
(1] l'he f olio ·ng fu nds are avail.ab le ,t o pay ii portion .o f the i nt erest payme nt due ·6/1/21:
De,pos · to 'De bt Se ·ce Fund 25'5 .70
ot es: Ori1f I t ax levies for c.o l ·on v~ars 2021 t hr.o ug h 2025 on the series 2012A Bo nd5 wi II be
cancell ed.
Original t ax levies. f col ·on .rears 2021 t hro ugh 2025 o n the ser ies 2 0128 Bo nd s wil I be
ca ncelled.
4820-5790 -6122\8
EXHIBIT C
NOTICE OF REDEMPTION
$1 , 190 ,000 General Obligation Permanent Improvement Revolving Fund Bonds , Series 20 I OA
Dated as of December I , 20 I 0
City of Eden Prairie, Minnesota
NOTICE IS HEREBY GIVEN THAT all outstanding Bonds of the above referenced issue, maturing in the
following years on the following dates and having the interest rates listed below :
Maturity
12/1 /2021 *
12/1 /2023*
12/1 /2025*
* Indicates full call.
Amount
$ 160 ,000
180 ,000
195 ,000
Rate
3 .500 %
3 .750
4.000
CUSIP Number®
279518AV6
279518 AX2
279518 AZ7
are called for redemption and prepayment on December I , 2020. The Bonds will be redeemed at a price of 100 % of
their principal amount plus accrued interest to the date of redemption . Holders of such Bonds should present them
for payment on or before said date , on which date they will cease to bear interest.
A Form W-9, Payer's Request for Taxpayer Identification Number, must be completed and returned with the called
note or 31 % of the note redemption proceeds will be withheld. P ayment of bond s to be redeemed will be made on
and after December I , 2020, by submitting said note along with the completed form W-9 to Wells Farg o Bank,
National Association following address:
By Mail or Courier Service:
Wells Fargo Bank, N .A .
Corporate Trust Operations
N9300-070
600 South 4th Street, 7th Floor
Minneapolis , MN 55415-1526
By Registered or Certified Mail :
Wells Fargo Bank, N .A.
Corporate Trust Operation s
P . 0 . Box 1517
Minneapolis , MN 55480-1517
In Person, By Hand:
Corporate Trust Operation s
MAC N9300-060
600 South 4th Street, 6th Floor
Minneapolis , MN 55415-1526
If you request payment of principal an d/or intere st via wire tran sfer , plea se b e advi sed there is a wire trans fe r fee
which will be deducted from y our payment.
Additional information may be obtained from the unders igned or from Ehl ers & Ass ociates , Inc ., 3060 Centre Point
Drive, Ros eville , Minnesota 5511 3-1105 (651-69 7-8500), financi a l advisor to th e C ity.
Dated : October 6, 202 0 .
®
BY ORDER OF THE CITY COUNCIL
CITY 0: EDE N ~OTA
By sf ~ .<::::, itY Manager
-
Reg istered Trad emark 2015 , Am eri can Bankers Assoc iation . T he R egistrar sha ll not be res pon sibl e for th e selecti on or use
of th e CU SIP numbers, nor is any re presentation made as to th e ir co rr ec tness ind icated in thi s No tic e of Redempti on or on
any Bond . They are in clud ed so le ly for co nven ience of th e H o lders .
4 820 -5790 -6 122 \8
EXHIBITD
NOTICE OF REDEMPTION
$1,805,000 General Obligation Permanent Improvement Revolving Fund Crossover Refunding Bonds,
Series 201 ID,
Dated as of December 1, 2011
City of Eden Prairie, Minnesota
NOTICE IS HEREBY GIVEN THAT all outstanding Bonds of the above referenced iss ue, maturing in the
following years on the following dates and having the interest rates listed below :
Maturity
12/1 /2021 *
12/1 /2022*
12 /1/2023*
12 /1/2024*
12 /1/2025*
* Indicates full call.
Amount
$ 165,000
170 ,000
175 ,000
180,000
180,000
Rate
2.100%
2.200
2.350
2.500
2.650
CUSIP Number®
279518 CL6
279518 CM4
2795 18 CN2
279518 CP7
279518 CQ5
are called for redemption and prepayment on December 1, 2020. The Bonds will be redeemed at a price of 100 % of
their principal amount plus accrued interest to the date of redemption. Holders of such Bonds should present them
for payment on ot before said date , on which date they will cease to bear interest.
A Form W-9, Payer's Request for Taxpayer Identification Number, must be completed and returned with the called
note or 31 % of the note redemption proceeds will be withheld. Payment of bonds to be redeemed will be made on
and after December l , 2020 , by submitting said note along with the completed form W-9 to Wells Fargo Bank,
National Association following address:
By Mail or Courier Service:
Wells Fargo Bank, N .A.
Corporate Trust Operations
N9300-070
600 South 4th Street, 7th Floor
Minneapolis, MN 55415-1526
By Registered or Certified Mail :
Wells Fargo Bank, N.A.
Corporate Trust Operations
P . 0 . Box 1517
Minneapolis , MN 55480-1517
In Person, By Hand:
Corporate Trust Operations
MAC N9300-060
600 South 4th Street, 6th Floor
Minneapolis, MN 55415-1526
If you request payment of principal and/or interest via wire transfer, please be advised there is a wire transfer fee
which will be deducted from your payment.
Additional information may be obtained from the undersigned or from Eh lers & Associates , Inc ., 3060 Centre Point
Drive, Roseville, Minnesota 55113-1105 (651-697-8500), financial advisor to the City.
Dated: October 6, 2020.
®
BY ORDER OF THE CITY COUNCIL
CITY OF DEN P:m!NNESOTA
Bys/ ,.........__~
City Manager
Registered Trademark 2015 , American Bankers As sociation. The Registrar shall not be res ponsibl e for the se lection or use
of th e CUSIP numb ers, nor is any representation made as to their correctness indicated in this Notice of Redemption or on
any Bond. They are included so lel y for convenience of the Holders.
4820-5 790 -6122\8
EXHIBIT E
NOTICE OF REDEMPTION
$5,110,000 General Obligation Crossover Refunding Bonds, Series 2012A
Dated as of March 1, 2012
City of Eden Prairie, Minnesota
NOTICE IS HEREBY GIVEN THAT all outstanding Bonds of the above referenced issue , maturing m the
following years on the following dates and having the interest rates listed below :
Maturity Amount
1/1/2 022 * $ 550 ,000
11112 023 * 835 ,000
1/1 /2024* 855,000
1/1 /2025* 875 ,000
1/1 /2026* 895 ,000
* Indicates full call .
Rate
2.000%
2.125
2.250
2 .375
2.500
CUSIP Number®
279518 CYB
279518 CZ5
279518 DA9
279518 DB7
279518 DC5
are called for redemption and prepayment on January I , 2021. The Bonds will be re deeme d at a price of 100 % of
their principal amount plu s accrued intere st to the date of redemption. Holders of s uch Bonds should present them
for payment on or befo re said date , on which date the y will cease to bear interest.
A Form W-9, Pay er's Request for Taxpayer Identification Number, must be completed and returned with the called
note or 3 I % of the note redemption proceeds will b e withheld. Payment of bond s to b e redeemed will be made on
and after January 1, 2021, by submitting said note along with the completed form W-9 to Wells Fargo Bank,
National Association following address:
By Mail or Courier Service:
W e ll s Fargo Bank, N.A .
Corporate Trust Op erations
N9300-070
600 South 4th Street, 7th Floor
Minneapolis, MN 55415-1526
By Reg istered or Ce rtified Mail :
Wells Fargo Bank, N.A.
Corporate Trust Operations
P . 0 . Box 1517
Minneapoli s, MN 55480-1517
In Person , By Hand :
C orporate Trust Operations
MAC N9300-060
600 South 4th Street, 6th Floor
Minneapolis, MN 55415-1526
If you re que st paym ent of princ ip a l and/or interest via wire transfer, please be advised th ere is a wire transfer fee
which will be deducte d from your p ayment.
Additional information may b e obtained from the undersigned or from Ehlers & Associates , Inc ., 3060 Centre Point
Drive , Ro sevi lle , Minnesota 55113-1105 (651-697-8500), financial advisor to th e City.
D ate d : October 6, 2020.
®
BY ORDER OF THE CITY COUNCIL
CITY OF ~EN P~SO ~
By s/ r \.--
City Manager
Regi stered Trademark 2015 , Am e rican Bankers As soci ation. The Registrar shall not be res ponsible for the selection or use
of the CUSIP numbers, nor is any representation made as to their correctness indi cated in thi s Notice of Redemption or on
any Bond . Th ey are included so lely for convenience of the Holders.
4820-5790-6122\8
EXHIBIT F
NOTICE OF REDEMPTION
$3, 170 ,000 General Obligation Capital Improvement Plan Crossover Refunding Bonds, Series 2012B
Dated as of March 1, 2012
City of Eden Prairie, Minnesota
NOTICE IS HEREBY GIVEN THAT all outstanding Bonds of the above referenced issue , maturing in the
following years on the following dates and having the interest rates listed below:
Maturity
1/112022*
1/1/2023*
1/1/2 024 *
1/1 /2025*
111 /2026*
1/1 /2027*
* Indicates full call.
Amount
$ 265,000
280 ,000
275,000
270,000
290,000
280,000
Rate
2.000%
2.000
2.125
2.250
2.375
2.500
CUSIP Number®
279518 DK7
279518 DL5
279518 DM3
279518 DNl
279518 DP6
279518 DQ4
are called for redemption and prepayment on January 1, 2021. The Bonds will be redeemed at a price of I 00% of
their principal amount plus accrued interest to the date of redemption . Holders of such Bonds should present them
for payment on or before said date , on which date they will cease to bear interest.
A Form W-9, Payer's Request for Taxpayer Identification Number, must be completed and returned with the called
note or 31 % of the note redemption proceeds will be withheld. Payment of bonds to be redeemed will be made on
and after January I , 2021, by s ubmitting said note along with the completed form W-9 to Wells Fargo Bank,
National Association following address:
By Mail or Courier Service:
Wells Fargo Bank, N .A .
Corporate Trust Operations
N9300-070
600 South 4th Street, 7th Floor
Minneapolis, MN 55415-1526
By Regis tered or Certified Mail:
Wells Fargo Bank, N.A.
Corporate Trust Operations
P . 0 . Box 1517
Minneapolis, MN 55480-1517
In Person, By Hand:
Corporate Trust Operations
MAC N9300-060
600 South 4th Street, 6th Floor
Minneapolis , MN 55415-1526
If you request paym ent of principal and/or intere st via wire transfer , please be advised there is a wire transfer fee
which will be deducted from your payme nt.
Additional information may be obtained from the undersigned or from Ehlers & Associates, Inc ., 3060 Centre Point
Drive, Roseville , Minnesota 55113-1105 (651-697-8500), financi a l advisor to the City.
Dated : October 6, 2020.
®
BY ORDER OF THE CITY COUNCIL
CITY OF ~)\EN P:s;r=OT A
Bys/ t\_ ~
City Manager
Registered Trademark 2015 , Am eri can Bankers As sociation. The Regi strar shall not be re sponsible for the se lection 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.
4820-5790-6122\8
CERTIFICATE OF HENNEPIN COUNTY AUDITOR
AS TO REGISTRATION AND TAX LEVY
I, the undersigned , being the duly qualified and acting County Auditor of Hennepin
County, Minnesota, hereby certify that there has been filed in my office a certified copy of a
resolution adopted October 6, 2020 , by the City Council of the City of Eden Prairie , Minnesota,
setting forth the form and details of an issue of $7 ,417 ,000 General Obligation Refunding Bonds,
Series 2020A , dated as of October 28, 2020 , and levying taxes for the payment thereof.
I further certify that the bond issue has been entered on my bond register and the tax
required by law for payment of the Bonds has been levied and filed , as required by Minnesota
Statutes , Sections 475.61to475 .63 .
WITN E SS my hand and official seal this ___ day of October, 2020.
Hennepin County Auditor
(SEAL)
4820 -5790 -6 122 \8