HomeMy WebLinkAboutResolution - 2001-182 - Call of Outstanding General Obligation Water and Sewer Revenue Bonds Series 1991C and 1991 F - 12/04/2001 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,NIINNESOTA
RESOLUTION 2001-182
RESOLUTION AUTHORIZING CALL OF CERTAIN OUTSTANDING
GENERAL OBLIGATION WATER AND SEWER REVENUE BONDS
BE IT RESOLVED by the City Council of the City of Eden Prairie,Minnesota
(the Council), as follows:
Section 1. The City has issued bonds as follows:
Aggregate Principal
Issue Original Principal Amount Outstanding
$9,500,000 General Obligation Water and Sewer Revenue $2,125,000
Bonds, Series 1991C (the Series 1991C Bonds)
dated September 1, 1991
$3,125,000 General Obligation Water and Sewer Revenue $ 315,000
Refunding Bonds, Series 1991F (the Series 1991F
Bonds) dated October 1, 1991
Section 2. The Series 1991C and the Series 1991F Bonds maturing in the year
2003 are subject to prepayment at a price equal to the principal amount and accrued interest to
the date of redemption upon notice of call for redemption thereof mailed not less than 30 days
before the date specified for redemption to the bank at which principal and interest are payable
and to the holder of each bond, if known.
Section 3. This Council has determined that there exits sufficient moneys in the
General Obligation Water and Sewer Revenue Bond, Series 1991C Debt Service Fund
established by Resolution No. 91-196 duly adopted by the Council on August 20, 1991,to
prepay$2,125,000 aggregate principal amount of the Series 1991C Bonds maturing in the year
2003.
Section 4. The Council has determined that there exists sufficient moneys in the
Water and Sewer Revenue Refunding Bond, Series 1991F Sinking Fund established by
Resolution No. 91-216 duly adopted by the Council on September 17, 1991 to prepay$315,000
aggregate principal amount of the Series 1991F Bonds maturing in the year 2003.
Section 5. The City Finance Director is authorized and directed to determine a
date on which the Series 1991 C and Series 1991F Bonds can be called, and to cause Wells Fargo
Bank Minnesota,National Association(formerly known as Norwest Bank Minnesota,National
Association), in Minneapolis,Minnesota,the bank at which principal and interest on the Series
1991 C and Series 1991F Bonds are payable,to cause the Notices of Redemption attached hereto
as Exhibit A to be mailed in accordance with Section 2.
Section 6. No further action shall be required of the Council to complete the
prepayment of the Series 1991C and Series 1991F Bonds.
ADOPTED by the City Council of the City of Eden Prairie this 4th day of December,2001.
By:
Harris,Mayor
ATTEST:
By:
Kathl en Porta, City Clerk
EXHIBIT A
NOTICE OF REDEMPTION
$3,125,000 General Obligation Water and Sewer
Revenue Refunding Bonds, Series 1991F
Dated: October 1, 1991
City of Eden Prairie,Hennepin County,Minnesota
Notice is hereby given that the Bonds of the above issue which mature on February 1 in the
following years and amounts:
Year Principal Interest Rate CUSIP Number*
2003 $315,000 6.10%
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 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 bond or 3 1% of the bond redemption proceeds will be withheld.
Payment of bonds to be redeemed will be made on and after February 1,2002,by submitting
said bond along with the completed form W-9 to Wells Fargo Bank Minnesota,National
Association(as successor Paying Agent to Norwest Bank Minnesota,National Association) at
the following address:
By Mail or Courier Service: By Registered or Certified Mail: In Person,By Hand:
Wells Fargo Bank Minnesota,N.A. Wells Fargo Bank Minnesota,N.A. Corporate Trust Services
Corporate Trust Operations Corporate Trust Operations 12"'Floor,Northstar East Bldg.
6°i Street&Marquette Avenue P.O.Box 1517 608 Second Avenue South
Minneapolis,MN 55479-0069 Minneapolis,MN 55480-1517 Minneapolis,MN 55402
If you request payment of principal and/or interest via wire transfers,please be advised there is a
wire transfer fee which will be deducted from your payment.
Dated: BY ORDER OF THE CITY COUNCIL
CITY OF EDEN PRAIRIE,NIINNESOTA
Kathleen Porta, City Clerk
*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.
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EXHIBIT A
NOTICE OF REDEMPTION
$9,500,000 General Obligation Water and
Sewer Revenue Bonds, Series 1991C
Dated: September 1, 1991
City of Eden Prairie,Hennepin County,Minnesota
Notice is hereby given that all Bonds of the above issue which mature on February 1 in the
following years and amounts:
CUSIP
Year Principal Amount Interest Rate Number*
2003 $2,125,000 6.30%
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 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 bond or 3 1% of the bond redemption proceeds will be withheld.
Payment of bonds to be redeemed will be made on and after February 1, 2002,by submitting
said bond along with the completed form W-9 to Wells Fargo Bank Minnesota,National
Association(as successor Paying Agent to Norwest Bank Minnesota,National Association) at
the following address:
By Mail or Courier Service: By Registered or Certified Mail: In Person,By Hand:
Wells Fargo Bank Minnesota,N.A. Wells Fargo Bank Minnesota,N.A. Corporate Trust Services
Corporate Trust Operations Corporate Trust Operations 12d'Floor,Northstar East Bldg.
6"'Street&Marquette Avenue P.O.Box 1517 608 Second Avenue South
Minneapolis,MN 55479-0069 Minneapolis,MN 55480-1517 Minneapolis,MN 55402
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.
Dated: BY ORDER OF THE CITY COUNCIL
CITY OF EDEN PRAIRIE,NIINNESOTA
Kathleen Porta, City Clerk
*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.
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