HomeMy WebLinkAboutResolution - 86-318 - Relating to $1,00,000 Certificates of Indebtedness, Series 1986; Fixing the Form and Details and Providing for Execution and Delivery and Security - t
CERTIFICATION OF MINUTES RELATING TO
$ 1 , 000 , 000 CERTIFICATES OF INDEBTEDNESS , SERIES 1986
Issuer : City of Eden Prairie , Minnesota
Governing body: City Council
Kind, date , time and place of meeting : A regular
meeting held on Tuesday, December 16 , 1986 , at 7:30 o ' clock
P . M . , C .D . T . , at the City Hall .
Members D r e s ent : Mayor Gary Peterson, Council Members: Paul Redpath
Richard Anderson, George Bentley, Patricia Pidcock
Members absent : None
Documents attached :
Minutes of said meeting ( including) :
RESOLUTION NO. 86-318
RESOLUTION RELATING TO $1 , 000 , 000
CERTIFICATES OF INDEBTEDNESS , SERIES 1986 ;
FIXING THE FORM... AND DETAILS AND PROVIDING
FOR THE EXECUTION AND DELIVERY THEREOF AND
SECURITY THEREFOR
I , the undersigned, being the duly qualified and
acting recording officer of the public corporation issuing the
obligations referred to in the title of this certificate,
certify that the documents attached hereto, as described above ,
have been carefully compared with the original records of the
corporation in my legal custody, from which they have been
transcribed; that the documents are a correct and complete
transcript of the minutes of a meeting of the governing body of
the corporation, and correct and complete copies of all
resolutions and other actions taken and of all documents
approved by the governing body at the meeting, insofar as they
relate to the obligations ; and that the meeting was duly held
by the governing body at the time and place and was attended
throughout by the members indicated above, pursuant to call and
notice given as required by law.
WITNESS my hand officially as such recording officer
this 17th day of December , 1986 .
i `
John D . Frane
% Finance Director-Clerk
Councilmember Bentley introduced the
following resolution and moved its adoption :
RESOLUTION NO . _
RESOLUTION RELATING TO $1 , 000 , 000
CERTIFICATES OF INDEBTEDNESS , SERIES 1986 ;
FIXING THE FORM AND DETAILS AND PROVIDING
FOR THE EXECUTION AND DELIVERY THEREOF AND
SECURITY THEREFOR
BE IT RESOLVED by the City Council ( the Council ) of.
the City of Eden Prairie, Minnesota (the City) , as follows :
Section 1 . Authorization .
Pursuant to the authorization recited in a resolution
of even date herewith entitled "Resolution Relating to
$5 , 000 , 000 General Obligation Bonds and Certificates of
Indebtedness ; Authorizing the Issuance and Awarding the Sale
Thereof , " this Council hereby determines that it is necessary
f to establish the form and terms of the issue of $1 , 000 , 000
Certificates of Indebtedness authorized therein ( the
Certificates) , to provide security therefor and to issue the
Certificates forthwith .
Section 2 . Form of Certificates . The Certificates
shall be prepared in substantially the following form:
(Face of the Certificates ]
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF EDEN PRAIRIE
CERTIFICATE OF INDEBTEDNESS , SERIES 1986
Date of
Rate Maturity Original Issue CUSIP
December 1 , 1986
REGISTERED OWNER : SEE REVERSE
PRINCIPAL AMOUNT : FOR CERTAIN
DEFINITIONS
No . $
KNOW ALL MEN BY THESE PRESENTS that 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 identified above, or registered
assigns , the principal sum specified above on the maturity date
specified above , with interest thereon from the crate hereof at
the annual rate specified above , payable on March 1 and
September 1 in each year , commencing September 1 , 1987 , to the
person in whose name this Certificate is registered at the
close of business on the 15th day (whether or not a business
day) of the immediately preceding month . The interest hereon
and, upon presentation and surrender hereof at maturity at the
principal office of the Bond Registrar hereinafter designated ,
the principal hereof , are payable in lawful money of the United
States of America by check or draft of American National
Bank & Trust Company , in St. Paul Minnesota J. as
Registrar , Transfer Agent and Paying Agent ( the Registrar ) , or
its successor designated under the Resclution described
herein. For the prompt and full payment of such principal and
interest as the same respectively become due, the full faith ,
credit and taxing powers of the City have been and are hereby
irrevocably pledged .
Additional provisions of this Certificate are
contained on the reverse hereof and such provisions shall for
all purposes have the same effect as though fully set forth
hereon.
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This Certificate shall not be valid or become
obligatory for any purpose or be entitled to any security or
benefit under the Resolution until the Certificate of
Authentication hereon shall have been executed by the Registrar
by manual signature of one of its authorized representatives .
IN WITNESS WHEREOF, the City of Eden Prairie , Hennepin
County, State of Minnesota, by its City Council , has caused
this Certificate to be executed by the facsimile signatures of
the Mayor and the City Manager and by a printed facsimile of
the official seal of the City .
Date of Authentication :
(Facsimile Signature) (Facsimile Signature)
City Manager Mayor
(Facsimile Seal )
't
CERTIFICATE OF AUTHENTICATION
This is one of the Certificates delivered pursuant to
the Resolution mentioned within .
as Registrar
By
Authorized Representative
[ Reverse of the Certificates ]
This Certificate is one of an issue in the aggregate
principal amount of $1 , 000 , 000 (the Certificates ) , issued
pursuant to a resolution adopted by the City Council on
December 16 , 1986 ( the Resolution ) to finance public safety and
public works equipment purchases in 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 , Section 412 . 301 . The
Certificates are issuable only as fully registered certificates
of indebtedness , in denominations of $5 , 000 or any multiple
thereof, of single maturities .
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As provided in the Resolution and subject to certain
limitations set forth therein, this Certificate is transferable
upon the books of the City at the principal office of the
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 Registrar , duly executed by the registered owner or his
attorney; and may also be surrendered in exchange for
Certificates of other authorized denominations . Upon such
transfer or exchange, the City will cause a new Certificate or
Certificates to be issued in the name of the 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 Registrar may deem and treat the
person in whose name this Certificate is registered as the
absolute owner hereof , whether this Certificate is overdue or
not , for the purpose of receiving payment and for all other
purposes , and neither the City nor the Registrar shall be
affected by any notice to the contrary .
s
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 , to happen and to be performed precedent to and in the
issuance of this Certificate 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
in regular and due form as so required; that prior to the
issuance hereof , the City has levied ad valorem taxes upon all
taxable property within the City for the years and in the
amounts required to produce sums not less than five percent in
excess of the principal of and interest on the Certificates as
such principal and interest respectively become due , and has
appropriated the same to the sinking fund in the manner
specified in Minnesota Statutes , Section 475 . 61 ; that , in the
event of any accumulated or anticipated deficiency in the
sinking fund, additional ad valorem taxes are required by law
to be levied upon all taxable property in the City without
limitation as to rate or amount; and that the issuance of this
Certificate does not cause the indebtedness of the City to
exceed any constitutional or statutory limitation .
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The following abbreviations , when used in the
inscription on the face of this Certificate, shall be construed
as though they were written out in full according to the
applicable laws or regulations :
TEN COM -- as tenants UNIF GIFT MIN ACT . . . . . Custodian . . . . .
in common (Cust ) (Minor)
TEN ENT -- as tenants
by the entireties
under Uniform Gifts to
JT TEN -- as ioint tenants Minors
with right of
survivorship and Act . . . . . . . . . . . . . . . . . . . . . .
not as tenants in ( State )
common
Additional abbreviations may also be used .
We certify that the above is a full , true and correct
copy of the legal opinion rendered by Bond Counsel on the issue
of Certificates of the City of Eden Prairie, Minnesota , which
includes the within Certificate, dated as of the date of
delivery of and payment for the Certificates .
(Facsimile Signature) (Facsimile Signature)
City Manager Mayor
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells ,
assigns and transfers unto
the within Certificate and all rights thereunder , and hereby
irrevocably constitutes and appoints
attorney to transfer the within Certificate on the books kept
for registration thereof , with full power of substitution in
the premises .
Dated :
PLEASE INSERT SOCIAL SECURITY _
OR OTHER IDENTIFYING NUMBER NOTICE The signature to this
OF ASSIGNEE : assignment must correspond with
the name as it appears on the
face of the within Bond in every
particular , without alteration,
enlargement or any change
whatsoever .
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a
Signature( s ) must be guaranteed by a commercial ban_
or trust company or by a brokerage firm, having a membership in
one of the major stock exchanges .
Section 3 . Bond Terms , Execution and Delivery .
3 . 01 . Maturities , Interest Rates , Denominations ,
Payment . The City shall forthwith issue and deliver the
Certificates , which shall be denominated "Certificates of
Indebtedness , Series 1986 , " and shall be payable primarily from
the Sinking Fund created in Section 4 . 01 hereof . The
Certificates shall be issuable in the denominations of $ 5 , 000
each or any integral multiple thereof , of single maturities ,
shall mature on March 1 in the years and amounts set forth
below, and Bonds maturing in such years and amounts shall bear
interest from the date of issue until paid or duly called for
redemption at the rates per annum shown opposite such years and
amounts as follows :
Year Amount Rate
1989 $ 350,000 4.60%
1990 650,000 4.80%
1991
The Certificates shall be issuable only in fully
registered form. The interest thereon and, upon surrender of
each Certificate at the principal office of the Registrar
described herein, the principal amount thereof , shall be
payable by check or draft issued by the Registrar .
3 . 02 . Dates ; Interest Payment Dates . Each
Certificate shall bear an original issue date of December 1 ,
1986 , and the Registrar shall place the date of authentication
on each Certificate as of the date of its authentication and
delivery . The interest on the Certificates shall be payable on
March 1 and September 1 in each year , commencing September 1 ,
1987 , to the owner of record thereof as such appear in the bond
register as of the close of business on the fifteenth day of
the immediately preceding month, whether or not such day is a
business day .
3 . 03 . Registration . The City shall appoint , and
shall maintain, a bond registrar , transfer agent and paying
agent ( the Registrar ) . The effect of registration and the
rights and duties of the City and the Registrar with respect
thereto shall be as follows :
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( a) Register . The Registrar shall keep at its
principal corporate trust office a bond register in which
the Registrar shall provide for the registration of
ownership of Certificates and the registration of transfers
and exchanges of Certificates entitled to be registered,
transferred or exchanged.
(b) Transfer of Certificates . Upon surrender for
transfer of any Certificate 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 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
Certificates of a like aggregate principal amount and
maturity, as requested by the transferor .
(c) Exchange of Certificates . Whenever any
Certificate is surrendered by the registered owner for
exchange , the Registrar shall authenticate and deliver one
or more new Certificates 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 Certificates surrendered upon
any transfer or exchange shall be p::omptly cancelled by the
Registrar and thereafter disposed of as directed by the
City .
(e) Improper or Unauthorized Transfer . When any
Certificate is presented to the Registrar for transfer , the
Registrar may refuse to transfer the same until it is
satisfied that the endorsement on such Certificate 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
Certificate is at any time registered in the bond register
as the absolute owner of such Certificate, whether such
Certificate shall be overdue or not , for the purpose of
receiving payment of , or on account of , the principal of
and interest on such Certificate 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 Certificate to the extent of the sum or sums
so paid.
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( g ) Taxes , Fees and Charges . For every transfer or
exchange of Certificates , 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
Certificates . In case any Certificate shall become
mutilated or be lost , stolen or destroyed, the Registrar
shall deliver a new Certificate of like amount , number ,
maturity date and tenor in exchange and substitution for
and upon cancellation of any such mutilated Certificate or
in lieu of and in substitution for any such Certificate
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 Certificate
lost , stolen or destroyed , upon filing with the Registrar
of evidence satisfactory to it that such Certificate was
lost , stolen or destroyed , and of the ownership thereof ,
and upon receipt by 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 Certificates 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 Certificate has already matured , it shall not
be necessary to issue a new Certificate prior to payment .
3 . 04 . Appointment of Initial Registrar . The City
hereby appoints An-erican National Bank & Trust Company a as
the initial Registrar . The Mayor and the City Manager are
authorized to execute and deliver , on behalf of the City, a
contract with American National Bank & Trust Company
as Registrar . Upon merger or consolidation of the Registrar
with another corporation , if the resulting corporation is a
bank or trust company authorized by law to conduct such
business , such corporation shall be authorized to act as
successor 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 any Registrar upon thirty
( 30 ) days ' notice and upon the appointment of a successor
Registrar , in which event the predecessor Registrar shall
deliver all cash and Certificates in its possession to the
successor Registrar and shall deliver the bond register to the
successor Registrar . On or before each principal or interest
due date , without further order of this Council , the Finance
Director-Clerk shall transmit to the Registrar , from the
Sinking Fund described in Section 4 . 01 hereof , moneys
sufficient for the payment of all principal and interest then
due .
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3 . 05 . Preparation and Delivery . The Certificates
sha11 be prepared under the direction of the Finance
Director-Clerk and shall be executed on behalf of the City by
the signatures of the Mayor and the City Manager , and shall be
sealed with the official corporate seal of the City; provided
that said signatures and the corporate seal may be printed ,
engraved, or lithographed facsimiles thereof . In case any
officer whose signature, or a facsimile of whose signature ,
shall appear on the Certificates shall cease to be such officer
before the delivery of any Certificate, 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 Certificate
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 such Certificate has been duly
executed by the manual signature of an authorized
representative of the Registrar . Certificates of
authentication on different Certificates need not be signed by
the same representative . The executed certificate of
authentication on each Certificate shall be conclusive evidence
that it has been authenticated and delivered under this
resolution . When the Certificates have been so executed and
authenticated , they shall be delivered by the Finance
Director--Clerk to the purchaser thereof upon payment of the
purchase price in accordance with the contract of sale
heretofore made and executed , and the purchaser shall not be
obligated to see to the application of the purchase price .
Section 4 . Security Provisions .
4 . 01 . Sinking Fund . So long as any of the
Certificates are outstanding and any principal thereof or
interest thereon unpaid, the Finance Director-Clerk shall
maintain a separate and special Sinking Fund ( the Sinking Fund)
to be used for no purpose other than the payment of the
principal of and interest on the Certificates and on such other
certificates of indebtedness of the City as have been or may be
directed to be paid therefrom . The City irrevocably
appropriates to the Sinking Fund ( a) any taxes levied in
accordance with this resolution , and (b) such other moneys as
shall be received and appropriated to the Sinking Fund from
time to time . If any payment of principal or interest shall
become due when there is not sufficient money in the Sinking
Fund therefor , the City Finance Director--Clerk shall
nevertheless provide sufficient moneys from any funds of the
City which are available for that purpose, and such other funds
shall be reimbursed from the Sinking Fund when the balance
therein is sufficient .
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f
4 . 02 . Ad Valorem Taxes . To provide for the prompt
and full payment of the principal of and interest on the
Certificates as the same become respectively due, there is
hereby levied upon all of the taxable property of the City a
direct , annual ad valorem tax, which shall be spread upon the
tax rolls prepared in each of the following years and collected
with other taxes in the years and amounts as follows :
Levy Collection Levy Collection.
Year Year Amount Year Year. Amount
See attached levy calculation
Said taxes shall be irrepealable as long as any of the
Certificates herein authorized are outstanding and unpaid;
provided that the city reserves the right and power to reduce
t' the levies in the manner and to the extent provided in
Minnesota Statutes , Section 475 . 61 .
4 . 03 . Full Faith and Credit Pledged . The full faith
and credit of the City are irrevocably pledged for the prompt
and full payment of the principal of and interest on the
Certificates , and the Certificates shall be payable from the
Sinking Fund in accordance with the provisions and covenants
contained in this resolution . If the money on hand in the
Sinking Fund should at any time be insufficient to pay all
principal and interest due on all bonds payable therefrom, such
amounts shall be paid from any other fund of the City and such
other fund shall be reimbursed therefor when sufficient money
is available in the Sinking Fund . If necessary to pay when due
all principal and interest to become due on the bonds payable
from the Sinking Fund , an additional direct , irrepealable , ad
valorem tax shall be levied on all taxable property within the
corporate limits of the City for the purpose of restoring such
accumulated or anticipated deficiency in accordance with the
provisions of this resolution .
Section 5 . Defeasance . When all of the Certificates
have been discharged as provided in this Section 5 , all
pledges , covenants and other rights granted by this resolution
to the holders of the Certificates shall cease. The City may
r' discharge its obligations with respect to any Certificates
which are due on any date by irrevocably depositing with the
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DATE 12/17/86
COMPUTATION OF TAIL LEVY ON --
CITY OF EDEN PRAIRIE, MINNESOTA
$1 ,000,000 G.O. EQUIPMENT CERTIFICATES
LEVY COLLECTION PSI TAX
YEAR YEAR PLUS 5 9. (ROUNDED)
1987 1988 $407,846 .25 $407,900
1988 1989 $715,260.00 $715,300
$1 ,123,106 .25 $1,123, 200
NOTE: BOND PROCEEDS (CAPITALIZED INTEREST) OF $68000.00
WILL. BE USED, TO PAY $68000.00 OF INTEREST PAYMENTS DUE
9/1/1987 3/1/1988, 9/l/1988,
CAPITALIZED INTEREST, FUNDS AVAILABLE & FUNDS ON HAND
HAVE BEEN DEDUCTED FROM THE FIRST YEAR LEVY SHOWN ABOVE.
COMPUTER ROUNDING MAY CAUSE DIFFERENCE OF A FEW DOLLARS
j WHEN CHECKING COLUMN TOTALS WITH TOTALS SHOWN.
( PROGRAM 'LEVYCALC' -- SHORT FORM
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Registrar on or before that date a sum sufficient for the
payment thereof in full ; or , if any Certificate should not be
paid when due , it may nevertheless be discharged by depositing
with the Registrar 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 Certificates , subject to the provisions of law
now or hereafter authorizing and regulating such action , by
depositing irrevocably in escrow , with a bank qualified by law
as an escrow agent for this purpose , cash or securities which
are 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 . County Auditor Registration , Certification
of Proceedings , Investment of Moneys , Arbitrage and Qualified
Tax-Exempt - Obligations .
6 . 01 . County Auditor Registration . The Finance
Director-Clerk is hereby authorized and directed to file a
certified copy of this resolution with the Director of Property
Taxation of Hennepin County, together with such other
information as the Director of Property Taxation shall require ,
and to obtain from said Director of Property Taxation a
certificate that the Certificates have been entered on his bond
register and the taxes described in Section 4 . 02 hereof have
been levied as required by law .
6 . 02 . Certification of Proceedings . The officers of
the City and the Director of Property Taxation of Hennepin
County are hereby authorized and directed to prepare and
furnish to the Purchaser and to Dorsey & Whitney, Bond Counsel ,
certified copies of all proceedings and records 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 Certificates as the same appear from the
books and records under 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 facts recited therein .
6 . 03 . Covenant . The City covenants and agrees with
the holders from time to time of the Certificates 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 Certificates to become subject to taxation under the
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Internal Revenue Code of 1986 (the Code ) and applicable
Treasury Regulations ( the Regulations) , and covenants to take
any and all actions within its powers to ensure that the
interest on the Certificates will not become subject to
taxation under the Code and the Regulations .
6 . 04 . Arbitrage Certification . The Mayor and Finance
Director-Clerk, being the officers of the City charged with the
responsibility for issuing the Certificates pursuant to this
resolution , are authorized and directed to execute and deliver
to the purchaser thereof a certificate in accordance with the
provisions of Section 148 of the Code, and Sections 1 . 103-13 ,
1 . 103-14 and 1 . 103-15 of the Regulations , stating the facts ,
estimates and circumstances in existence on the date of issue
and delivery of the Certificates which make it reasonable to
expect that the proceeds of the Certificates will not be used
in a manner that would cause the Certificates to be arbitrage
bonds within the meaning of the Code and Regulations .
6 . 05 . Official Statement . The Official Statement
relating to the Certificates , prepared on behalf of the City by
Ehlers and Associates , Inc . is hereby approved, and the
officers of the City are hereby authorized and directed to
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execute such certificates as may be appropriate concerning the
accuracy, completeness and sufficiency thereof .
6 . 06 . Qualified Tax-Exempt Obligations . The City
hereby designates the Certificates as "qualified tax-exempt
obligations " for purposes of Section 265 ( b) ( 3 ) of the Code
relating to the disallowance of interest expense for financial
institutions .
6 . 07 Exemption from Rebate Requirements . For
purposes of compliance with the requirements of Section
148 ( f ) ( 4 ) (C) of the Code relating to the exemption for certain
small governmental units from the rebate requirements of the
Code , the City hereby determines and declares that :
(a ) it is a governmental unit with general taxing
powers ;
(b) the Certificates are not "private activity bonds"
as defined in Section 141 of the Code (Private
Activity Bonds ) ;
(c ) ninety-five percent of the net proceeds of the
Certificates are to be used for the local
governmental purposes of the City; and
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( d) the aggregate face amount of all tax-exempt bonds
(other than Private Activity Bonds ) issued by the
City in calendar year 1986 is not reasonably
expected to exceed $5 , 000 , 000 .
/s/ Gary Peterson
Mayor
Attest :
/s/ John D. Frane
Finance Director-Clerk
The motion for the adoption of the foregoing
resolution was duly seconded by Council member Pidcock ,
and upon vote being taken thereon, the following voted in favor
thereof : Mayor Gary Peterson, Council Members: Paul Redpa th, Richard Anderson,
George Bentley, Patricia Pidcock
and the following voted against the same : None
whereupon said resolution was declared duly passed and adopted,
and was signed by the Mayor , whose signature was attested by
the Finance Director-Clerk .
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