#158 05-01-56 Provide Lateral Sewer Improvement No. 1 BondsResolution No. 158
May 1, 1956
Member Rahn introduced the following resolution and moved its adoption:
"RESOLUTION PROVIDING FOR REGISTRABILITY OF $375,000
LATERAL SEATER IMPROVEMENT N0. 1 AND $1,000,000 TRUNK
SEWER DiPROVEMENT NO. 2 BONDS, AND AMENDING THE
RESOLUTIONS FIXING THE FORM AND DETAILS OF THE SAME
ADOPTED APRIL 12, 1956"
BE IT RESOLVED by the Village Council of the Village of Golden Valley, Minnesota,
as follows:
1. The $375,000 Lateral Sewer Improvement No. 1 Bonds (Second Series) and
the $1,000,000 Trunk Sewer Improvement No. 2 Bonds of the Village heretofore
authorized and directed to be issuOd by resolutions of this Council adopted
on April 12, 1956, entitled "Resolution Providing for and Appropriating
Special Assessments to the Support and Maintenance of Lateral Sewer Improve-
ment No. 1 Fund, and Directing Issuance of Lateral Sewer Improvement No. 1
Bonds (Second Series)" and "Resolution Creating Trunk Sewer Improvement No. 2
Fund, Providing for and Appropriating Special Assessments to the Support and
Maintenance Thereof, and Directing Issuance of Trunk Sewer Improvement No. 2
Bonds", shall be made registrable as to principal, in accordance with the
request of the purchaser. Paragraph 4 of each of said resolutions is hereby
amended by adding thereto the following sentence:
"Said bonds shall be payable to bearer, or, if the bond is registered,
to the registered holder thereof, and while registered, any of said
bonds shall not be transferable by delivery but only by registration in
the office of the Village Clerk, all as provided in the text of said
bonds which follows; however, such registration shall be as to principal
only, and the coupons shall continue to be payable to bearer and trans-
ferable by delivery. The Village Clerk and his successors in office are
authorized and directed to procure, establish and maintain a register
suitable for registering any of said bonds, as to principal only, upon
request therefor by the holders of any of said bonds:"
2. Paragraph 5 of said resolutions shall be amended as follows:
a. In the first paragraph of the bond form contained in said paragraph,
following the word "bearer", shall be inserted the following: "or, if
this bond is registered, to the registered holder hereof".
b. The following paragraph shall be inserted in said bond form as the
third paragraph thereof:
"This bond is transferable by delivery, except while registered
as to principal in the name of the holder on the bond register
of the Village kept for that purpose at the office of its Clerk,
in Golden Valley, Minnesota, such registration being noted hereon
by the Clerk. While so registered, no transfer hereof shall be
valid unless on such register by the registered holder in person
or by his attorney duly authorized in writing and similarly noted
herein; but this bond may be discharged from registration by being
in like manner transferred to bearer, and thereupon transferability
Resolution No. 158 (continued)
May 1, 1956
by delivery shall be restored, but this bond may again and from time to
time be registered in the name of a holder or transferred to bearer as
before. Such registration shall not affect the negotiability of the
coupons attached hereto, which shall always continue to be payable to
bearer and transferable by delivery."
c. The last sentence of the following paragraph of said bond form shall
be amended to read as follows: "Holders of said bonds numbered 651
through 1,000 who wish to receive such notice may, with or without reg-
istration in accordance with the preceding paragraph, register their
names, addresses, and bond numbers with the Village Clerk."
d. Following the description of the bond form, and before the description
of the coupon form, shall be inserted the following:
(Form of text and grill for registration
to appear on back of each bond.)
The within bond has been registered, as to ownership of principal only,
on the bond register kept at the office of the Village Clerk in Golden
Valley, Minnesota.
;N'0 NRITING HEREON EXCEPT BY THE VILLAGE. CLERK
Date RegistereA Owner Signatures a of Clerk
S
3. Except as amended by the foregoing sections of this resolution, each and
all of the terms and provisions of said resolutions of thic Council cated April
12, 1956, are hereby approved, ratified and confirmed.
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Resolution No. 158 (continued)
May 1, 1956
The motion for the adoption of the foregoing resolution was duly seconded
by Member Teresa, and upon vote being taken thereon, the following members
voted in favor theveof: Bies, Nadasdy, Rahn, and Teresi; and the following
voted against the same: None, whereupon said resolution was declared duly
passed and adopted, signed by the Mayor and his signature attested by the
Clerk.
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) ss
VILLAGE OF GOLDEN VALLEY )
T do hereby certify that at a regular meeting of the Village Council of
Golden Valley, Minnesota, on the lst day of May, 1956, at which a majority
of the members of said Council were present, the foregoing resolution was
adopted.
Given under my hand and seal this lst da , 1956.
age Cle=r
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