15-98 - 12-15 - Call of Series 2006C Bonds Resolution 15-98 December 15, 2015
Member Fonnest introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING CALL OF SERIES 2006C BONDS
BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota (the
"City"), as follows:
Section 1. The City has issued its General Obligation Storm Sewer Utility Revenue
Bonds, Series 2006C, dated, as originally issued, as of July 19, 2006, in the original
principal amount of $1,945,000 (the "Bonds").
Section 2. The Bonds maturing in 2018 and later years are subject to prepayment
on February 1, 2016, upon notice of call for redemption thereof mailed not fewer than 30
days before the date specified for redemption to the registered owners of the Bonds.
Section 3. This Council has determined that there exist sufficient funds available to
prepay on February 1, 2016, the Bonds maturing in 2018 and later years.
Section 4. U. S. Bank National Association, as registrar and paying agent for the
Bonds, is hereby authorized and directed to cause the Notice of Redemption attached
hereto as Exhibit A to be provided as required by the resolution authorizing the issuance of
the Bonds.
Section 5. No further action shall be required of the Council to complete the
prepayment of the Bonds maturing in 2018 and later years.
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SI-CF rd M. Harris, Mayor ,
ATTEST:
•
.L.
Kristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Snope
and upon a vote being taken thereon, the following voted in favor thereof: Harris, Snope,
Clausen, Fonnest and Schmidgall 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 City Clerk.
Resolution 15-98 -2- December 15, 2015
EXHIBIT A
NOTICE OF REDEMPTION
$1,945,000 General Obligation Storm Sewer Utility Revenue
Bonds,
Series 2006C
Dated as of July 19, 2006
City of Golden Valley, Minnesota
NOTICE IS HEREBY GIVEN that the City of Golden Valley, Minnesota (the "Issuer"), has
called for redemption and prepayment on February 1, 2016, the outstanding Bonds of the
above-referenced issue (the "Bonds") maturing on February 1 in the following years, in the
principal amounts and having the interest rates and CUSIP numbers listed below:
Maturity Amount Rate CUSIP®
2018 $290,000 4.10% 381246 CX 3*
2019 485,000 4.15 381246 DA2*
The Bonds will be redeemed at a price of 100% of their principal amount plus accrued
interest to the date of redemption. Holders of the Bonds should present them for payment
to U.S. Bank National Association, St. Paul, Minnesota, on or before said date, when they
will cease to bear interest, in the following manner:
If by Mail: If by Hand or Overnight Mail:
U.S. Bank U.S. Bank
Corporate Trust Services Corporate Trust Services
P.O. Box 64111 111 Fillmore Avenue East
St. Paul, MN 55164-0111 St. Paul, MN 55107
Important Notice: In compliance with the Economic Growth and Tax Relief Reconciliation
Act of 2001, federal backup withholding tax will be withheld at the applicable backup
withholding rate in effect at the time the payment by the redeeming institutions if they are
not provided with your social security number or federal employer identification number,
properly certified. This requirement is fulfilled by submitting a W-9 Form, which may be
obtained at a bank or other financial institution.
® Registered Trademark 2015,American Bankers Association. CUSIP data herein is provided by Standard&Poor's,
CUSIP Services Bureau, a division of the McGraw-Hill Companies, Inc. CUSIP numbers have been assigned by an
independent company not affiliated with the Issuer or Paying Agent and are included solely for the convenience of the
holders of the Bonds. Neither the Issuer nor the Paying Agent is responsible for the selection or uses of these CUSIP
numbers,and no representation is made as to their correctness on the Bonds or as indicated above. The CUSIP
number for a specific maturity is subject to being changed after the issuance of the Bonds as a result of various
subsequent actions including, but not limited to, a refunding in whole or in part of the Bonds.
Indicates full call.
Resolution 15-98 -3- December 15, 2015
The Paying Agent 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 or from Springsted
Incorporated, 380 Jackson Street, Suite 300, St. Paul, Minnesota 55101 (651-223-3000),
financial advisor to the Issuer.
Dated: , 20_.
BY ORDER OF THE CITY COUNCIL
CITY OF GOLDEN VALLEY, MINNESOTA
By s/
City Clerk