21-025/04-20 Providing for the Redemption of Certain Outstanding General Obligation Improvement Bonds, Series 2010AGL135-35-707127.v1
RESOLUTION NO. 21-25
RESOLUTION PROVIDING FOR THE REDEMPTION OF CERTAIN OUTSTANDING
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2010A
OF THE CITY
BE IT RESOLVED By the City Council of the City of Golden Valley, Hennepin
County, Minnesota (the “City”), as follows:
1. The City has issued its General Obligation Improvement Bonds, Series
2010A, dated June 15, 2010 (the “Bonds”), in the original aggregate principal amount of
$3,845,000. The Bonds maturing on February 1, 2022 and thereafter, in the aggregate
principal amount of $1,385,000 (the “Callable Bonds”), are subject to redemption and
prepayment on any date at a price of par plus accrued interest.
2. It is determined that it is in the sound financial management of the City that
the Callable Bonds be prepaid and redeemed on June 1, 2021, or such later date for
which proper notice of redemption may be given, and such Bonds are hereby called for
redemption on such date.
3. The City Finance Director is authorized and directed to request that U.S.
Bank National Association, the paying agent and bond registrar (the “Registrar”), mail the
Notice of Call for Redemption in substantially the form attached hereto as Exhibit A to the
registered owners of each Bond to be redeemed at the addresses shown on the
registration books kept by the Registrar.
4. The City Finance Director is authorized and directed to make temporary
interfund account transfers necessary to pay and redeem the Callable Bonds on their
applicable call dates.
Adopted by the City Council on this 20th day of April, 2021
Shepard M. Harris, Mayor
ATTEST:
___
Theresa J. Schyma, City Clerk
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GL135-35-707127.v1 A-1
EXHIBIT A
NOTICE OF CALL FOR REDEMPTION
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2010A
CITY OF GOLDEN VALLEY
HENNEPIN COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that, by order of the City Council of the City of Golden
Valley, Hennepin County, Minnesota, there have been called for redemption and prepayment on
June 1, 2021
all outstanding obligations of the City designated as General Obligation Improvement Bonds,
Series 2010A, dated June 15, 2010, having stated maturity dates of February 1 in the years 2022
through 2030, totaling $1,385,000 in principal amount, and with the following CUSIP numbers:
Year of Maturity
Amount CUSIP
2022 $130,000 381246 HG5
2023 140,000 381246 HH3
2024 0
2025 0
2026 210,000 381246 HJ9
2027 215,000 381246 HK6
2028 220,000 381246 HL4
2029 230,000 381246 HM2
2030 240,000 381246 HN0
The Bonds are being called at a price of par plus accrued interest to June 1, 2021, on which date
all interest on said Bonds will cease to accrue. Holders of the Bonds hereby called for
redemption are requested to present their Bonds for payment at the main office of U.S. Bank
National Association, in the City of St. Paul, Minnesota, on or before June 1, 2021, at the
following address:
If by mail: If by hand or overnight:
U.S. Bank National Association
Corporate Trust Operations, 3rd Floor
P.O. Box 64111
St. Paul, MN 55164-0111
U.S. Bank National Association
60 Livingston Avenue
EP-MN-WS3C
Bond Drop Window, 1st Floor
St. Paul, MN 55107
Important Notice: In compliance with the Economic Growth and Tax Relief
Reconciliation Act of 2003, the City is required to withhold a specified percentage of the
principal amount of the redemption price payable to the holder of any Bonds subject to
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GL135-35-707127.v1 A-2
redemption and prepayment on the Redemption Date, unless the City is provided with the Social
Security Number or Federal Employer Identification Number of the holder, properly certified.
Submission of a fully executed Request for Taxpayer Identification Number and Certification,
Form W-9, will satisfy the requirements of this paragraph.
The Registrar will not be responsible for the selection or use of the CUSIP number, nor is
any representation made as to the correctness indicated in the Redemption Notice or on any
Bond. It is included solely for convenience of the Holders.
Additional information may be obtained from:
U.S. Bank National Association
Corporate Trust Division
Bondholder Services (800) 525-8574
Dated: April 20, 2021.
BY ORDER OF THE CITY COUNCIL
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