G O CertificateUNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTIES OF CARVER AND HENNEPIN
CITY OF C~LANHASSEN
GENERAL OBLIGATION EQUIPMENT CERTIFICATE OF 1991
The City of Chanhassen, Minnesota, a duly organized and
existing municipal corporation in Carver and Hennepin Counties,
Minnesota (City), acknowledges itself to be indebted and for value
received promises to pay to the City of Chanhassen General Fund
101, $158,000 on December 31, 1992, with interest thereon from the
date hereof at the annual rate of 5.70% payable at maturity. The
interest hereon and, upon presentation and surrender hereof, the
principal hereof are payable in lawful money of the United States
of America by check or draft by the City Manager, Chanhassen,
Minnesota, as Certificate Registrar. For the prompt and full
payment of such principal and interest as the same respectively
become due, the full faith and credit and taxing powers of the City
have been and are hereby irrevocably pledged.
The City may elect to prepay this Certificate in whole or in
part on any day.
This Certificate is issued pursuant to a resolution adopted by
the City Council on May 6, 1991 (the Resolution), for the purpose
of providing money to defray expenses incurred or to be incurred in
purchasing various items of capital equipment, pursuant to and in
full conformity with the Constitution and laws of the State of
Minnesota, including Minnesota Statutes, Section 412.301 and the
principal hereof and interest hereon are payable primarily from ad
valorem taxes, as set forth in the Resolution to which reference is
made for a full statement of rights and powers thereby conferred.
The full faith and credit of the City are irrevocably pledged for
payment of this Certificate, and the City Council has obligated
itself to levy additional ad valorem taxes on all taxable property
in the City in the event of any deficiency, which taxes may be
levied without limitation as to rate or amount.
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 preliminary to and in the issuance of this
Certificate in order to make it a valid and binding general
obligation of the City in accordance with its terms, have been
done, do exist, have happened and have been performed as so
required, and that the issuance of this Certificate does not cause
the indebtedness of the City to exceed any constitutional or
statutory limitation of indebtedness.
IN WITNESS WHEREOF, the City of Chanhassen, Carver and
Hennepin Counties, Minnesota, by its City Council, has cauSed this
Certificate to be executed on its behalf by the facsimile
signatures of the Mayor and City Manager and has Caused this
Certificate to be dated as of the date set forth below.
Dated:
CITY OF CHANHASSEN, MINNESOTA
City Manager