99-8743r
103
RESOLUTION NO. 8743
RESOLUTION PROVIDING FOR THE PREPAYMENT AND
REDEMPTION OF CERTAIN OUTSTANDING
GENERAL OBLIGATION BONDS OF THE CITY
BE IT RESOLVED by the City Council of the City of Richfield, Hennepin County,
Minnesota as follows:
1. The City has issued aqd sold its General Obligation Refunding Bonds, Series
1991, dated September 1, 1991 (Bonds) in the total principal amount of $5,615,000.
Bonds maturing after February 1, 2000 are subject to redemption and prepayment on
that and on any interest payment date thereafter at a price of par plus accrued interest.
2. It is determined that it is in the best interests of the sound financial
management of the City that Bonds maturing on February 1 in the years 2003 to and
including 2006, and that Bonds in the aggregate principal amount of $30,000 maturing
on February 1 in the years 2000,2001 and 2002, be prepaid and redeemed on August
1, 1999 and those Bonds are hereby called for redemption on that date.
3. The City Clerk is authorized and directed to publish, in accordance with law, a
notice of call for redemption of the Bonds in the form attached hereto as Exhibit A and
to mail a copy of the notice to the registrar for the Bonds.
Adopted by the City Council of the City of Richfield, Minnesota this 14th day of
June, 1999.
ATTEST:
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Thomas P. Ferber, City Clerk --