HomeMy WebLinkAboutResolution - 2004-158 - $1,660,000 General Obligation Improvement Refunding Bonds, 1997B - 11/23/2004 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,MINNESOTA
RESOLUTION NO. 2004-158
RESOLUTION AUTHORIZING CALL OF CERTAIN
OUTSTANDING GENERAL OBLIGATION IMPROVEMENT
REFUNDING BONDS, SERIES 1997B
BE IT RESOLVED by the City Council of the city of Eden Prairie,Minnesota
(the City), as follows:
Section 1. The City has issued its General Obligation Improvement Refunding Bonds,
Series 1997B (the Series 1997B Bonds) dated as of June 1, 1997, in the original principal amount
of$2,845,000, of which$1,895,000 in aggregate principal amount is currently outstanding.
Section 2. The Series 1997B Bonds maturing in the years 2006 through 2012 are subject
to prepayment at a price equal to the principal amount thereof 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 registered holders of the Series 1997B Bonds and published
as required by law.
Section 3. This Board has determined that there exist sufficient moneys available for the
prepayment of the Series 1997B Bonds to prepay the $1,660,000 aggregate principal amount of
the Series 1997B Bonds maturing in the years 2006 through 2012.
Section 4. The City Clerk is authorized and directed to determine a date on which the
Series 1997B Bonds can be called and to cause U.S. Bank National Association(formerly known
as Firstar Bank of Minnesota,N.A.), in St. Paul, Minnesota,the bank at which principal and
interest on the Series 1997B Bonds are payable, to cause the Notice of Redemption attached
hereto as Exhibit A to be mailed and published, if required, in accordance with Section 2.
Section 5. No further action shall be required of the Council to complete the prepayment
of the Series 1997B Bonds.
ADOPTED by the City Council on November 23, 2004.
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Kat een Porta, City Clerk
EXHIBIT A
NOTICE OF REDEMPTION
$2,845,000 General Obligation Improvement Refunding Bonds, Series 1997B
Dated June 1, 1997
City of Eden Prairie, Minnesota
Notice is hereby given that all Bonds of the above issue which mature on February 1 in the following
year and amounts:
Maturfty Amount CUSIP Rate Maturity Amount CUSIP Rate
2006 $235,000 * 5.00% 2010 $245,000 * 5.30%
2007 230,000 * 5.05 2011 240,000 * 5.35
2008 225,000 * 5.15 2012 235,000 * 5.40
2009 250,000 * 5.20
* indicates full call.
are called for redemption and prepayment on February 1, 2005. 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, in the following manner:
If by Mail: (FULLY REG) If by HAND or OVERNIGHT MAIL
U.S. Bank National Association U.S. Bank National Association
Corporate Trust Operations, 3rd Floor 60 Livingston Avenue
P. O. Box 64111 EP-MN-WS3C
St. Paul,MN 55164-0111 Bond Drop Window, 1"Floor
St. Paul,MN 55107
In compliance with the Interest and Dividend Compliance Act of 1983 and Broker Reporting
Requirements,the redeeming institutions are required to withhold 3 1% 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.
U.S. Bank National Association, as successor to Firstar Bank of Minnesota,N.A.,trustee for the
bonds, shall not be responsible for the selection of or use of the CUSIP number,nor is any
representation made as to its correctness indicated in this Notice of Redemption. It is included solely
for the convenience of the Holders.
Additional information may be obtained from the undersigned.
Dated: , 2004.
BY ORDER OF THE CITY COUNCIL OF EDEN
PRAIRIE,MINNESOTA
/s/Kathleen Porta, City Clerk