HomeMy WebLinkAboutResolution - 2002-191 - Call of Certain Outstanding G.O. Improvement Bonds, Series 1993B - 12/17/2002 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, AUNNESOTA
RESOLUTION 2002-191
RESOLUTION AUTHORIZING CALL OF CERTAIN OUTSTANDING
GENERAL OBLIGATION EVIPROVEMENT 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
$2,695,000 General Obligation Improvement Bonds, Series $400,000
1993B (the Series 1993B Bonds) dated May 1, 1993
Section 2. The Series 1993B Bonds maturing in the year 2004 is 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 Improvement Bonds, Series 1993B Sinking Fund established by Resolution
No. 93-55 duly adopted by the Council on April 16, 1993,to prepay$400,000 aggregate
principal amount of the Series 1993B Bonds maturing in the year 2004.
Section 4. The City Finance Director is authorized and directed to determine a
date on which the Series 1993B Bonds can be called, and to cause U.S. Bank Corporate Trust
Services(formerly known as First Trust National Association), in St. Paul,Minnesota, the bank
at which principal and interest on the Series 1993B Bonds is payable, to cause the Notices of
Redemption attached hereto as Exhibit A to be mailed in accordance with Section 2.
Section 5. No further action shall be required of the Council to complete the
prepayment of the Series 1993B Bonds.
ADOPTED by the City Council of the City of Eden Prairie this 17th day of December, 2002.
By
an yr 1 ayor
ATTEST:
By: 6W�J-// u
Kathleen Porta, City Clerk
EXHIBIT A
NOTICE OF REDEMPTION
$2,695,000 General Obligation Improvement Bonds, Series 1993B
Dated: May 1, 1993
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*
2004 $400,000 5.4%
are called for redemption and prepayment on February 1, 2003. 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 31% of the bond redemption proceeds will be withheld.
Payment of bonds to be redeemed will be made on and after February 1, 2003,by submitting
said bond along with the completed form W-9 to U.S. Bank Trust N.A. (as successor Paying
Agent to First Trust National Association), at the following address:
By Mail or Courier Service: By Registered or Certified Mail: In Person,By and:
U.S.Bank Trust N.A. U.S.Bank Trust N.A. U.S.Bank Trust N.A.
Corporate Trust-Debt Mgmt Corporate Trust-Debt Mgmt Corporate Trust-Debt Mgmt
CM-9705 180 East Fifth Street 180 East Fifth Street
P.O.Box 70870 St.Paul,MN 55101 St.Paul,MN 55101
St.Paul,MN 55170-9705
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,MINNESOTA
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.