84-52
e
e
e
II
Rc.so luJj on
(~i 1"'""")-
./LJ.-fj
(--l J -,.
EXTRACT OF MINUTES OF MEETING OF THE
CITY COUNCIL OF THE CITY OF
CHANHASSEN, CARVER AND
HENNEPIN COUNTIES, MINNESOTA
Pur~uant to due call and notice thereof, a special meeting of the City
Council of the City of Chanhassen, Carver and Hennepin Counties, Minnesota,
was duly held in the City Hall in said City on Monday, the 24th day of
September, 1984, at 7:30 o'clock P.M., C.T.
The following members of the Council were present: Mayor Hamilton,
Council members Geving, Horn, Swenson and Watson
and the following were absent: None
* * *
* * *
* * *
The Mayor announced that the sole order of business was consideration
of bids for the purchase of $860,000 General Obligation Bonds of the City,
in accordance with Resolution No. 84-44 adopted August 20, 1984. The City
Manager presented affidavits showing publication of a notice of sale in the
official newspaper of the City, and in Commercial West, a financial paper
published in Minneapolis, Minnesota, which affidavits were examined and
found satisfactory and ordered placed on file.
The City Manager presented the tabulated bids submitted as specified
in the Official Notice of Sale. The bids were examined and found to be as
follows:
SEE NEXTiPAGE
e
e
The Council considered the bids submitted for $860,000 General Ob1iga-
tion Bonds which had been opened and tabulated in accordance with the
Official Notice of Sale. Counci1member
Gevinq
then introduced
the following resolution and moved its adoption:
RESOLUTION NO. 84-52
A RESOLUTION AWARDING THE SALE OF $860,000
GENERAL OBLIGATION BONDS OF 1984, CONSISTING
OF $590,000 GENERAL OBLIGATION IMPROVEMENT
BONDS OF 1984, $215,000 GENERAL OBLIGATION
TAX INCREMENT BONDS OF 1984, AND $55,000
GENERAL OBLIGATION CERTIFICATES OF 1984,
SERIES 2; PROVIDING FOR THE FORM AND
SPECIFICATIONS THEREOF: AND PROVIDING
FOR THEIR PAYMENT.
BE IT RESOLVED By the City Council of the City of Chanhassen,
Minnesota (City), as follows:
Section 1. Sale of Bonds.
e
1.01. The bid of NORWEST SECURITIES
(Purchaser) to purchase $860,000 General Obligation Bonds (Bonds), bearing
interest as follows:
Year of Maturity
Interest Rate
1985
1986
1987
1988
1989
1990
1991
1992
1993
7.00%
7.25
7.50
7.75
8.00
8.25
8.50
8.75
9.00
is hereby accepted, the bid being to purchase the Bonds at a price of
$ 846.240.00 The Mayor and the City Manager are directed to execute
a contract with the Purchaser on behalf of the City. The Manager is
instructed to return the good faith checks of all unsuccessful bidders
forthwith. Of the purchase price, the sum of $::lfi 1, 7::lq 17 repre-
senting additional interest shall be deposited pro rata in the respective
debt service funds hereafter created. The pro rata net interest cost of
the three issues individually 1s set forth in Exhibit A, attached hereto.
e
1.02. The City shall forthwith issue its General Obligation Improve-
ment Bonds of 1984 (Improvement Bonds) in the principal amount of $590,000.
The Improvement Bonds shall be 115 in number and numbered 1 to 115, both
2
e
inclusive. in the denomination of $5.000 each. dated October 1. 1984.
bearing interest as above provided. and maturing on December 1 in the
following years and amounts:
Year Amount
1985 $ 0
1986 70,000
1987 70.000
1988 75,000
1989 75.000
1990 75.000
1991 75.000
1992 75.000
1993 75.000
The City may elect on December 1. 1989, and on any interest date thereafter
to prepay Improvement Bonds due on or after December 1. 1990. Redemption
may be in whole or in part of the Improvement Bonds subject to prepayment.
If prepayment is in part those Improvement Bonds remaining unpaid which
have the latest maturity date will be prepaid first. If only part of the
Bonds having a common maturity date are called for prepayment the specific
bonds to be prepaid will be chosen by lot by the Registrar. All prepay-
ments shall be at a price of par and accrued interest.
e
1. 03. The City shall forthwith issue its General Obligation Tax
Increment Bonds of 1984 (Tax Increment Bonds) in the principal amount of
$215.000. The Tax Increment Bonds will be 43 in number and numbered 1
through 43. both inclusive. in the denomination of $5,000 each, dated
October 1. 1984. bearing interest as above provided. and maturing on
December 1 in the following years and amounts:
Year
Amount
1985
1986
1987
1988
1989
$40.000
40,000
40.000
45.000
50.000
The Tax Increment Bonds are without option of prior payment.
1.04. The City shall forthwith issue its General Obligation Equipment
Certificates of 1984. Series 2 (Certificates) in the principal amount of
$55.000. The Certificates shall be 11 in number and numbered 1 to 11, both
inclusive. in the denomination of $5.000 each. dated October 1. 1984.
bearing interest as above provided. and maturing on December 1 in the
following years and amounts:
e
3
e
Year Amount
1985 $ 10 . 000
1986 15.000
1987 15.000
1988 15.000
The Certificates are without option of prior payment.
Section 2. Interest: Form: Registration.
2.01. Form. The Bonds and Certificates shall be issuable only in
fully registered form. The interest thereon and. upon surrender of each
Bond or Certificate. the principal amount thereof shall be payable by check
or draft issued by the Registrar described herein.
e
2.02. Dates; Interest Payment Dates. Each Bond and Certificate shall
be dated as of the last interest payment date preceding the date of authen-
tication to which interest on the Bond or Certificate has been paid or made
available for payment. unless (i) the date of authentication is an interest
payment date to which interest has been paid or made available for payment.
in which case such Bond or Certificate shall be dated as of the date of
authentication. or (ii) the date of authentication is prior to June 1.
1985. in which case such Bond or Certificate shall be dated as of October
1. 1984. The interest on the Bonds and Certificates shall be payable on
June 1 and December 1 in each year. commencing June 1. 1985. to the owner
of record thereof as of the close of business on the fifteenth day of the
immediately preceding month. whether or not such day is a business day.
2.03. Registration. The City shall appoint. and shall maintain. a
bond registrar. transfer agent. authenticating agent and paying agent
(Registrar). The effect of registration and the rights and duties of the
City and the Registrar with respect thereto shall be as follows:
(a) Register. The Registrar shall keep at its principal corpo-
rate trust office a bond register in which the Registrar shall provide
for the registration of ownership of Bonds and Certificates. and the
registration of transfers and exchanges of Bonds or Certificates
entitled to be registered. transferred or exchanged.
e
(b) Transfer of Bonds. Upon surrender for transfer of any Bond
or Certificate duly endorsed by the registered owner thereof or
accompanied by a written instrument of transfer, in form satisfactory
to the Registrar, duly executed by the registered owner thereof or by
an attorney duly authorized by the registered owner in writing. the
Registrar shall authenticate the delivery. in the name of the des-
ignated transferee or transferees. one or more new Bonds or Certifi-
cates of a like aggregate principal amount and maturity. as requested
by the transferor. The Registrar may, however, close the books for
registration of any transfer after the fifteenth day of the month
preceding each interest payment date and until such interest payment
date.
4
e
(c) Exchange of Bonds. Whenever any Bonds or Certificates are
surrendered by the registered owner for exchange the Registrar shall
authenticate and deliver one or more new Bonds or Certificates of a
like aggregate principal amount and maturity, as requested by the
registered owner or the owner's attorney in writing.
(d) Cancellation. All Bonds or Certificates surrendered upon
any transfer or exchange shall be promptly cancelled by the Registrar
and thereafter disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When any Bond or Certif-
icate is presented to the Registrar for transfer, the Registrar may
refuse to transfer the same until it is satisfied that the endorsement
on such Refunding Bond or Certificate or separate instrument of
transfer is valid and genuine and that the requested transfer is
legally authorized. The Registrar shall incur no liability for the
refusal, in good faith, to make transfers which it, in its judgment,
deems improper or unauthorized.
e
(f) Persons Deemed Owners. The City and the Registrar may treat
the person in whose name any Bond or Certificate is at any time
registered in the bond register as the absolute owner of such Bond or
Certificate, whether such Bond or Certificate shall be overdue or not,
for the purpose of receiving payment of, or on account of, the princi-
pal of and interest on such Bond or Certificate and for all other
purposes, and all such payments so made to any such registered owner
or upon the owner's order shall be valid and effectual to satisfy the
discharge the liability upon such Bond or Certificate to the extent of
the sum or sums so paid.
(g) Taxes, Fees and Charges. For every transfer or exchange of
Bonds or Certificates, the Registrar may impose a charge upon the
owner thereof sufficient to reimburse the Registrar for any tax, fee
or other governmental charge required to be paid with respect to such
transfer or exchange.
e
(h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any
Bond or Certificate shall become mutilated or be destroyed, stolen or
lost. the Registrar shall deliver a new Refunding Bond or Certificate
of like amount. number. maturity date and tenor in exchange and
substitution for and upon cancellation of any such mutilated Bond or
Certificate or in lieu of and in substitution for any such Bond or
Certificate destroyed, stolen or lost, upon the payment of the reason-
able expenses and charges of the Registrar in connection therewith;
and. in the case of a Bond or Certificate destroyed, stolen or lost,
upon filing with the Registrar of evidence satisfactory to it that
such Bond or Certificate was destroyed, stolen or lost, and of the
ownership thereof, and upon furnishing to the Registrar of an appro-
priate bond or indemnity in form, substance and amount satisfactory to
it. in which both the City and the Registrar shall be named as obli-
gees. All Bonds or Certificates so surrendered to the Registrar shall
be cancelled by it and evidence of such cancellation shall be given to
the City. If the mutilated, destroyed, stolen or lost Bond or Certif-
icate has already matured or been called for redemption in accordance
5
e
with its terms it shall not be necessary to issue a new Refunding Bond
or Certificate prior to payment.
2.04. Appointment of Initial Registrar. The City hereby appoints
First Trust Company of Saint Paul, St. Paul, Hinnesota, as the initial
Registrar. The Mayor and the Manager are authorized to execute and deliv-
er, on behalf of the City, a contract with said Registrar. Upon merger or
consolidation of the Registrar with another corporation, if the resulting
corporation is a bank or trust company authorized by law to conduct such
business, such corporation shall be authorized to act as successor Regis-
trar. The City agrees to pay the reasonable and customary charges of the
Registrar for the services performed. The City reserves the right to
remove the Registrar upon 30 days' notice and upon the appointment of a
successor Registrar, in which event the predecessor Registrar shall deliver
all cash. Bonds and Certificates in its possession to the Stlccessor Re~is-
trar and shall deliver the bond register to the successor RCRistrar. On or
before each principal or interest due date, without further order of this
Council, the Manager shall transmit to the Registrar moneys sufficient for
the payment of all principal and interest then due.
e
2.05. Execution, Authentication and Deliverv. The Bonds and Certifi-
cates shall be prepared under the direction of -the Manager and shall be
executed on behalf of the City by the signatures of the Mayor and the
Manager, provided that all signatures may be printed, engraved or litho-
graphed facsimilies of whose signature shall appear on the Bonds and
Certificates shall cease to be such officer before the delivery of any Bond
or Certificate, such signature or facsimile shall nevertheless be valid and
sufficient for all purposes, the same as if he had remained in office until
delivery. Notwithstanding such execution, no Bond or Certificate shall be
valid or obligatory for any purpose or entitled to any security or benefit
under this Resolution unless and until a certificate of authentication on
such Bond or Certificate has been duly executed by the manual signature of
an authorized representative of the Registrar. Certificates of authentica-
tion on different Bonds and Certificates need not be signed by the same
representative. The executed certificate of authentication on each Bond
and Certificate shall be conclusive evidence that it has been authenticated
and delivered under this Resolution. When the Bonds and Certificates have
been so prepared, executed and authenticated, the Manager shall deliver the
same to the Purchaser thereof upon payment of the purchase price in accor-
dance with the contract of sale heretofore made and executed, and the
Purchaser shall not be obligated to see to the application of the purchase
price.
Section 3. Form of Bonds and Execution.
3.01. The Bonds and Certificates shall be printed in suhstantially
the following form:
e
6
e
[Face of the Bond]
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTIES OF CARVER AND HENNEPIN
CITY OF CHANHASSEN
GENERAL OBLIGATION I~~ROVEMENT BOND OF 1984
Rate
Maturity
Date of
Original Issue
CUSIP
October 1, 1984
No.
$
KNOW ALL MEN BY THESE PRESENTS that the City of Chanhassen, a duly
organized and existing municipal corporation in Carver and Hennepin
Counties, Minnesota (City), acknowledges itself to be indebted and for
value received hereby promises to pay to
e
or registered assigns, the principal sum of $ on the maturity
date specified above, with interest thereon from the date hereof at the
annual rate specified above, payable June 1 and December 1 in each year,
commencing June 1, 1985, to the person in whose name this Bond is regis-
tered at the close of business on the 15th day (whether or not a business
day) of the immediately preceding month. 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 First
Trust Company of Saint Paul, St. Paul, Minnesota, as Bond Registrar,
Authenticating Agent and Paying Agent, or its designated successor under
the Resolution described herein. For the prompt and full payment of such
principal and interest as the same respectively become due, the full faith
and credit nd taxing powers of the City have been and are hereby irrevo-
cably pledged.
e
The City may elect on December 1, 1989, and on any interest payment
date thereafter, to prepay Bonds of this issue due on or after December 1,
1990. Redemption may. be in whole or in part of the Bonds subject to
prepayment. If redemption is in part, those Bonds remaining unpaid which
have the latest maturity date will be prepaid first. If only part of the
Bonds having a common maturity date are called for prepayment the specific
Bonds to be prepaid will be chosen by lot by the Registrar. All prepay-
ments shall be at a price of par and accrued interest.
7
e
Additional provisions of this Rond are contained on the reverse hereof
and such provisions shall for all purposes have the same effect as though
fully set forth in this place.
This Bond shall not be valid or become obligatory for any purpose or
be entitled to any security or benefit under the Resolution until the
Certificate of Authentication hereon shall have been executed by the Bond
Registrar by manual signature of one of its authorized representatives.
IN WITNESS WHEREOF, the City of Chanhassen, Carver and Hennepin
Counties, Minnesota, by its City Council, has caused the Bond to be execut-
ed on its behalf by the facsimile signatures of the Mayor and City Manager
and has caused this Bond to be dated as of the date set forth below.
Dated:
CITY OF CHANHASSEN, MINNESOTA
(facsimile)
City Manager
(facsimile)
Mayor
CERTIFICATE OF AUTHENTICATION
e
This is one of the Bonds delivered pursuant to the Resolutiom men-
tioned within.
By
Authorized Representative
[Reverse of the Bond]
e
This Bond is one of an issue on the aggregate principal amount of
$590,000, all of like original date and tenor, except as to number, maturi-
ty date, interest rate, and redemption privilege. issued pursuant to a
resolution adopted by the City Council on September 24, 1984 (the Resolu-
tion), for the purpose of providing money to defray the expenses incurred
and to be incurred in making local improvements, pursuant to and in full
conformity with the Constitution and laws of the State of Minnesota,
including Minnesota Statutes, Chapter 429. and is payable primarily from
special assessments against property specially benefited thereby, but
constitutes a general obligation of the City and, to provide moneys for the
prompt and full payment of said principal and interest as the same become
due, the full faith and credit of the City is hereby irrevocably pledged,
and the City Council will levy ad valorem taxes, if required for such
purpose, which taxes may be levied on all of the taxable property in the
City without limitation as to rate or amount. The bonds of this series are
8
e
issued only as fully registered bonds in denominations of $5,000 or any
integral multiple thereof of single maturities.
As provided in the Resolution and subject to certain limitations set
forth therein, this Bond is transferable upon the books of the City at the
principal office of the Bond Registrar, by the registered owner hereof in
person or by his attorney duly authorized in writing upon surrender hereof
together with a written instrument of transfer satisfactory to the Bond
Registrar, duly executed by the registered owner or his attorney; and may
also be surrendered in exchange for Bonds of other authori7.ed denomina-
tions. Upon such transfer or exchange the City will cause a new Bond or
Bonds to be issued in the name of the transferee or registered owner, of
the same aggregate principal amount, bearing interest at the same rate and
maturing on the same date, subject to reimbursement for any tax, fee or
governmental charge required to be paid with respect to such transfer or
exchange.
The City and the Bond Registrar may deem and treat the person in whose
name this Bond is registered as the absolute owner hereof. whether this
Bond is overdue or not, for the purpose of receiving payment and for all
other purposes. and neither the City nor the Bond Registrar shall be
affected by any notice to the contrary.
e
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 Bond 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 Bond does not cause the indebtedness of the City
to exceed any constitutional, statutory or charter limitation of indebted-
ness.
(Form of certificate to be printed on the reverse side of each bond,
following a full copy of the legal opinion.)
I certify that the above is a full, true and correct copy of the legal
opinion rendered by bond counsel on the issue of Bonds of the City of
Chanhassen, Minnesota, which includes the within Bond, dated as of the date
of delivery of and payment for the Bonds.
(Facsimile Signature)
City Manager
.
The following abbreviations, '",hen used in the inscription of the face
of this Bond, shall be construed as though they were written out in full
according to applicable laws or regulations:
9
e
TEN COM -- as tenants
in common
UN IF GIFT MIN ACT
(Cust)
Custodian
(Minor)
TEN ENT -- as tenants
by entireties
under Uniform Gifts to Hinors
JT TEN -- as joint tenants with
right of survivorship and
not as tenants in common
Ac t . . .
...........
(State)
Additional abbreviations may also be used though not in the
above list.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and trans-
fers unto
the within Bond and all rights thereunder, and does
constitute and appoint
transfer the said Bond on the books
Bond, with full power of substitution
hereby irrevocably
attorney to
kept for registration of the within
in the premises.
e
Dated:
Notice:
The assignor's signature to this assignment must
correspond with the name as it appears upon the face of
the within Bond in every particular, without alteration
or any change whatever.
Signature Guaranteed:
Signature(s) must be guaranteed by a national bank or trust company or by a
brokerage firm having a membership in one of the major stock exchanges.
The Bond Registrar will not effect transfer of this Bond unless the
information concerning the assignee requested below is provided.
Name and Address:
(Include information for all joint owners if the
Bonds are held by joint account)
e
Please insert social security or
other identifying number of assignee
10
e
[Face of the Bond]
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTIES OF CARVER AND HENNEPIN
CITY OF CHANHASSEN
GENERAL OBLIGATION TAX INCREMENT BOND OF 1984
Rate
Maturity
Original Issue
CUSIP
October 1, 1984
No.
$
KNOW ALL MEN BY THESE PRESENTS that the City of Chanhassen, a duly
organized and existing municipal corporation in Carver and Hennepin
Counties, Hinnesota (City), acknowledges itself to be indebted and for
value received hereby promises to pay to
e
or registered assigns, the principal sum of $ on the maturity
date specified above, with interest thereon from the date hereof at the
annual rate specified above, payable June 1 and December 1 in each year,
commencing June 1, 1985, to the person in whose name this Bond is regis-
tered at the close of business on the 15th day (whether or not a business
day) of the immediately preceding month. 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 First
Trust Company of Saint Paul. St. Paul, Hinnesota, as Bond Registrar,
Authenticating Agent and Paying Agent, or its designated successor under
the Resolution described herein. For the prompt and full payment of such
principal and interest as the same respectively become due. the full faith
and credit nd taxing powers of the City have been and are hereby irrevo-
cably pledged.
Bonds of this issue are not subject to prior payment.
Additional provisions of this Bond are contained on the reverse hereof
and such provisions shall for all purposes have the same effect as though
fully set forth in this place.
e
This Bond shall not be valid or become obligatory for any purpose or
be entitled to any security or benefit under the Resolution until the
Certificate of Authentication hereon shall have been executed by the Bond
Registrar by manual signature of one of its authorized representatives.
11
e
IN WITNESS WHEREOF, the City of Chanhassen, Carver and Hennepin
Counties, Minnesota, by its City Council, has caused the Bond to be execut-
ed on its behalf by the facsimile signatures of the Mayor and City Manager
and has caused this Bond to be dated as of the date set forth below.
Dated:
CITY OF CHANHASSEN, MINNESOTA
(facsimile)
City Manager
(facsimile)
Mayor
CERTIFICATE OF AUTHENTICATION
This is one of the Bonds delivered pursuant to the ResolutiolDl. men-
tioned within.
FIRST TRUST COMPANY OF SAINT PAUL
By
Authorized Representative
e
[Reverse of the Bond]
This Bond is one of an issue on the aggregate principal amount of
$215,000, all of like original date and tenor, except as to serial number,
maturity date and interest rate, issued pursuant to a resolution adopted by
the City Council on September 24, 1984 (the Resolution), for the purpose of
providing money to finance public improvement costs of an Economic Develop-
ment Tax Increment Financing District (District) in the City, pursuant to
and in full conformity with the Constitution and laws of the State of
Minnesota, including Minnesota Statutes, Section 273.71 to 273.78, the
Minnesota Tax Increment Financing Act, and is payable primarily from tax
increments resulting from increases in assessed valuation of real property
in the District, but constitutes a general obligation of the City and, to
provide moneys for the prompt and full payment of said principal and
interest as the same become due, the full faith and credit of the City is
hereby irrevocably pledged, and the City Council will levy ad valorem
taxes. if required for such purpose. which taxes may be levied on all of
the taxable property in the City without limitation as to rate or amount.
The bonds of this series are issued only as fully registered bonds in
denominations of $5,000 or any integral multiple thereof. of single matu-
rities.
e
As provided in the Resolution and subject to certain limitations set
forth therein. this Bond is transferable upon the books of the City at the
principal office of the Bond Registrar. by the registered owner hereof in
person or by his attorney duly authorized in writing upon surrender hereof
12
e
together with a written instrument of transfer satisfactory to the Bond
Registrar, duly executed by the registered owner or his attorney; and may
also be surrendered in exchange for Bonds of other authorized denomina-
tions. Upon such transfer or exchange the City will cause a new Bond or
Bonds to be issued in the name of the transferee or registered owner, of
the same aggregate principal amount, bearing interest at the same rate and
maturing on the same date, subj ect to reimbursement for any tax, fee or
governmental charge required to be paid with respect to such transfer or
exchange.
The City and the Bond Registrar may deem and treat the person in whose
name this Bond is registered as the absolute owner hereof, whether this
Bond is overdue or not, for the purpose of receiving payment and for all
other purposes, and neither the City nor the Bond Registrar shall be
affected by any notice to the contrary.
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 Bond 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 Bond does not cause the indebtedness of the City
to exceed any constitutional or statutory limitation of indebtedness.
e
(Form of certificate to be printed on the reverse side of each bond,
following a full copy of the legal opinion.)
I certify that the above is a full, true and correct copy of the legal
opinion rendered by bond counsel on the issue of Bonds of the City of
Chanhassen, Minnesota, which includes the within Bond, dated as of the date
of delivery of and payment for the Bonds.
(Facsimile Signature)
City Nanager
The following abbreviations, when used in the inscription of the face
of this Bond, shall be construed as though they were written out in full
according to applicable laws or regulations:
e
TEN COM -- as tenants UNIF GIFT MIN ACT Custodian
in common (Cust) (Minor)
TEN ENT -- as tenants
by entireties under Uniform Gifts to Minors
JT TEN -- as joint tenants with
13
e
right of survivorship and
not as tenants in common
Act . . .
. . . .
.......
(State)
Additional abbreviations may also be used though not in the
above list.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and trans-
fers unto
the within Bond and all rights thereunder, and does
constitute and appoint
transfer the said Bond on the books
Bond, with full power of substitution
hereby irrevocably
attorney to
kept for registration of the within
in the premises.
Dated:
Notice:
The assignor's signature to this assignment must
correspond with the name as it appears upon the face of
the within Bond in every particular, without alteration
or any change whatever.
e
Signature Guaranteed:
Signature(s) must be guaranteed by a national bank or trust company or by a
brokerage firm having a membership in one of the major stock exchanges.
The Bond Registrar will not effect transfer of this Bond unless the
information concerning the assignee requested below is provided.
Name and Address:
(Include information for all joint owners if the
Bonds are held by joint account)
Please insert social security or
other identifying number of assignee
e
14
e
[Face of the Bond]
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTIES OF CARVER AND HENNEPIN
CITY OF CHANHASSEN
GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF 1984. SERIES 2
Rate
Haturity
Original Issue
CUSIP
October 1, 1984
No.
$
e
KNOW ALL MEN BY THESE PRESENTS that the City of Chanhassen, a duly
organized and existing municipal corporation in Carver and Hennepin
Counties, Hinnesota (City), acknowledges itself to be indebted and for
value received hereby promises to pay to
or registered assigns. the principal sum of $ on the maturity
date specified above, with interest thereon from the date hereof at the
annual rate specified above, payable June 1 and December 1 in each year.
commencing June 1. 1985. to the person in whose name this Bond is regis-
tered at the close of business on the 15th day (whether or not a business
day) of the immediately preceding month. 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 First
Trust Company of Saint Paul, St. Paul, Minnesota. as Bond Registrar,
Authenticating Agent and Paying Agent, or its designated successor under
the Resolution described herein. 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 irrevo-
cably pledged.
Additional provisions of this Certificate are contained on the reverse
hereof and such provisions shall for all purposes have the same effect as
though fully set forth in this place.
e
This Certificate shall not be valid or become obligatory for any
purpose or be entitled to any security or benefit under the Resolution
until the Certificate of Authentication hereon shall have been executed by
the Certificate Registrar by manual signature of one of its authorized
representatives.
15
e
IN WITNESS WHEREOF, the City of Chanhassen, Carver and Hennepin
Counties, Minnesota, by its City Council, has caused the Certificate to be
executed on its behalf by the facsimile signatures of the Mayor and City
Manager and has caused this Bond to be dated as of the date set forth
below.
Dated:
CITY OF CHANHASSEN, MINNESOTA
(facsimile)
City Manager
(f acs imile)
Mayor
CERTIFICATE OF AUTHENTICATION
This is one of the Bonds delivered pursuant to the Resolutiom men-
tioned within.
FIRST TRUST CO}~ANY OF SAINT PAUL
e
By
Authorized Representative
[Reverse of the Certificate]
This Certificate is one of an issue on the aggregate principal amount
of $55,000, all of like original date and tenor, except as to serial
number, maturity date and interest rate, issued pursuant to a resolution
adopted by the City Council on September 24, 1984 (the Resolution), for the
purpose of providing money to defray the expenses incurred and 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, but constitutes a
general obligation of the City and, to provide moneys for the prompt and
full payment of said principal and interest as the same become due, the
full faith and credit of the City is hereby irrevocably pledged, and the
City Council has duly levied ad valorem taxes on all taxable property in
the City and will levy additional ad valorem taxes, if required for such
purpose, which taxes may be levied on all of the taxable property in the
City without limitation as to rate or amount. The Certificates of this
series are issued only as fully rcp,istered Certificates in denominations of
$5,000 or any integral multiple thereof, of single maturities.
e
As provided in the Resolution and subject to certain limitations set
forth therein, this Certificate is transferable upon the books of the City
at the principal office of the Certificate Registrar, by the registered
owner hereof in person or by his attorney duly authorized in writing upon
surrender hereof together with a written instrument of transfer
16
e
satisfactory to the Certificate Registrar, duly executed by the registered
owner or his attorney; and may also be surrendered in exchange for Certifi-
cates of other authorized denominations. Upon such transfer or exchange
the City yill cause a ney Certificate or Certificates to be issued in the
name of the transferee or registered owner, of the same aggregate principal
amount, bearing interest at the same rate and maturing on the same date,
subject to reimbursement for any tax, fee or governmental charge required
to be paid yith respect to such transfer or exchange.
The City and the Certificate Registrar may deem and treat the person
in yhose name this Certificate is registered as the absolute owner hereof,
whether this Certificate is overdue or not, for the purpose of receiving
payment and for all other purposes, and neither the City nor the Certifi-
cate Registrar shall be affected by any notice to the contrary.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts,
conditions and things required by the Constitution and lays 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 yith 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 indebt-
edness.
e
(Form of certificate to be printed on the reverse side of each Certif-
icate, folloYing a full copy of the legal opinion.)
I certify that the above is a full, true and correct copy of the legal
opinion rendered by bond counsel on the issue of Certificates of the City
of Chanhassen, Minnesota, yhich includes the yithin Certificate, dated as
of the date of delivery of and payment for the Certificates.
(Facsimile Signature)
City Manager
The folloYing abbreviations, when used in the inscription of the face
of this Certificate, shall be construed as though they were written out in
full according to applicable laws or regulations:
TEN COM -- as tenants
in common
UNIF GIFT HIN ACT
(Cust)
Custodian
(Hinor)
e
TEN ENT -- as tenants
by entireties
under Uniform Gifts to Minors
JT TEN -- as joint tenants with
17
e
right of survivorship and
not as tenants in common
Act . . .
. . . .
.......
(State)
Additional abbreviations may also be used though not in the
above list.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and trans-
fers unto
the within Certificate and all rights thereunder, and
cably constitute and appoint
transfer the said Certificnte on the books kept for
within Certificate, with full power of substitution in
does hereby irrevo-
attorney to
registration of the
the premises.
Dated:
Notice:
The assignor's signnture to this assignment must
correspond with the name as it nppears upon the face of
the within Certificate in every particular, without
alterntion or any change whatever.
e
Signnture Guarnnteed:
Signature(s) must be guaranteed by a nntional bank or trust company or by a
brokerage firm having a membership in one of the major stock exchanges.
The Certificate Registrar will not effect transfer of this Certificate
unless the information concerning the nssignee requested below is provided.
Name and Address:
(Include information for all joint owners if the
Certificat~s nre held by joint nccount)
Please insert social security or
other identifying number of assignee
e
3.02. The Manager shall obtain n copy of the proposed approving legal
opinion of LeFevere, Lefler, Kennedy, O'Brien & Drawz, a Professional
Association, Minneapolis, Minnesota, which shall be complete except as to
dating thereof and shall cause the opinion to the printed on each Bond and
Certificate, together with a certificate to be signed by the facsimile
18
e
signature of the Manager in substantially the form set forth in the form of
Bond or Certificate.
The Manager is hereby authorized and directed to execute such certificate
in the name of the City upon' receipt of such opinion and to file the
opinion in the City offices.
Section 4. Security: Payment.
4.01. The Improvement Bonds shall be payable from the General Obliga-
tion Improvement Bonds of 1984 Fund (Debt Service Fund) hereby created, and
the proceeds of any general taxes hereafter levied and special assessments
(Assessments) to be levied for the improvements (Improvements) financed by
the Bonds are hereby pledged to the Debt SErvice Fund. If any payment of
principal or interest on the Bonds shall become due when there is not
sufficient money in the Debt Service Fund to pay the same, the City Trea-
surer shall pay such principal or interest from the general fund of the
City and such fund may be reimbursed for such advances out of proceeds of
Assessments for the Improvements when collected. The City shall
irrevocably appropriate $58,815 dollars into the Debt Service Fund
from the Construction Fund for the payment of principal or interst on the
Bonds.
e
4.02. It is hereby determined that the estimated collections of
special assessments for the payment of the Bonds will produce at least five
percent in excess of the amount needed to meet. when due, the principal and
interest payments on the Bonds. The City Manager is directed to file a
certified copy of this resolution with the County Auditors, and obtain the
certificate required by Minnesota Statutes, Section 475.63.
4.03. It is hereby determined that the Improvements to be financed by
the Bonds will directly and indirectly benefit the abutting property, and
the City hereby covenants with the holders from time to time of the Bonds
as follows:
(a) The City will cause the Assessments for the Improvements to
be promptly levied so that the first installment will be collectible
not later than 1986, and at a rate currently estimated at %, and
will take all steps necessary to assure prompt collection;-and the
levy of the Assessments is hereby authorized. The City Council shall
cause all further actions and proceedings relative to the making and
financing of the Improvements financed hereby to be taken with due
diligence that are required for the construction of each Improvement
financed wholly or partly from the proceeds of the Bonds, and for the
final and valid levy of special assessments and the appropriation of
any other funds needed to pay the Bonds and interest thereon when due.
(b) In the event of any current or anticipated deficiency in the
Assessments, the City Council will levy ad valorem taxes in the amount
of said current or anticipated deficiency.
e
(c) The City will keep complete and accurate books and records
showing all receipts and disbursements in connection with the Improve-
ments, the taxes and Assessments levied therefor and other funds
19
e
appropriated for their payment, and all collections thereof and
disbursements therefrom, moneys on hand and balance of unpaid Assess-
ments.
(d) The City will cause its books and records to be audited at
least annually by qualified public accountants and will furnish copies
of such audit reports to a~y interested person upon request.
4.04. Tax Increment Bonds or additional bonds similarly authorized
and issued shall be payable from the General Obligation Tax Increment Bonds
of 1984 Debt Service Fund (Debt Service Fund) hereby created, and the
proceeds of any general taxes hereafter levied, and all tax increments from
the District in which the Project financed by the Bonds is located, which
tax increments are hereby irrevocably appropriated and pledged to the Debt
Service Fund. If any payment of principal or interest on the Bonds shall
become due when there is not sufficient money in the Debt Service Fund to
pay the same, the Manager shall pay such principal or interest from the
general fund of the City and such fund may be reimbursed from such advances
out of proceeds of said tax increments when received. City hereby irrevo-
cably appropriates $90.000 dollars from the(;PT Swale Construction Account
into the West 77th Street Construction Account.
e
4.05. It is hereby found and determined that the estimated tax
increments from the Tax Increment Financing District are sufficient to
provide funds equal to at least five percent in excess of the amount needed
to pay principal and interest when due on the Bonds and that no tax levy is
needed at this time. The Manager is directed to file a certified copy of
this resolution with the County Auditors of Carver and Hennepin County and
to obtain the certificate required by Minnesota Statutes, Section 475.63.
4.06. There is hereby created a separate debt service fund (Fund) for
the Certificates, which shall be used for no other purposes than to pay
principal of and interest on the Certificates, provided that if any payment
of principal or interest shall become due when there is not sufficient
money in the Fund to pay the same, the Administrator shall pay such princi-
pal or interest from the general fund of the City and the general fund
shall be reimbursed for such advances out of moneys appropriated by the
City Council for such purpose. There is hereby irrevocable appropriated
$1.500 dollars from the City's Motor Vehicle Depreciation Fund into
the Fund for the purpose of paying interim interest on the certificates.
4.07. For the purpose of paying the principal of and interest on the
Certificates, there is hereby levied upon all of the taxable property in
the City a direct annual irrepealable ad valorem tax, which shall be spread
upon the tax rolls and collected with and as part of other p,eneral taxes of
the City and shall credited to the Fund, which tax is in the years and
amounts as follows in amount producing at least five percent in excess of
the amounts needed to meet when due the principal and interest payments on
the Certificates (the years shown are years of levy for taxes collectible
during the following year):
e Year Levy
1984 $14,000
1q~5 20,000
1986 18,000
1987 17,000
20
e
A certified copy of this resolution shall be delivered to the County
Auditors of Carver and Hennepin Counties in order to obtain the certificate
required by Minnesota Statutes. Section 475.63.
Section 5. Filings: Authentication of Transcript.
5.01. The officers of the City are hereby authorized and directed to
prepare and furnish to the Purchaser and to the attorneys approving the
legality of the issuance of the Bonds and Certificates, certified copies of
all proceedings and records of the City relating to the Bonds and Certifi-
cates and to the financial condition and affairs of the City, and such
other affidavits, certificates and information as are required to show the
facts relating to the legality and marketability of the Bonds and Certifi-
cates as the same appear from the books and records under their custody and
control or as otherwise known to them, and all such certified copies,
certificates and affidavits. including any hereto fore furnished, shall be
deemed representations of the City as to the facts stated therein. The
Mayor and City Manager are hereby authorized and directed to certify that
they have examined the Official Statement dated 1984, prepared and cir-
culated in connection with the issuance and sale of the Bonds and Certifi-
cates and that to the best of their knowledge and belief the Official
STatement is a complete and accurate representation of the facts and
representations made therein as of the date thereof.
The motion for the adoption of the foregoing resolution was duly
e
seconded by Councilmember
Watson
. and upon vote being taken
thereon. the following voted in favor thereof: Mayor Hamilton, Council
members Geving, Horn, Swenson and Watson
and the following voted against the same: None
whereupon said resolution was declared duly passed and adopted.
e
21
e
e
e
~
STATE OF HINNESOTA
)
) SSe
)
CITY OF CHANHASSEN
I. the undersigned. being the duly qualified and acting Manager of the
City of Chanhassen. hereby certify that I have carefully compared the
attached and foregoing extract of minutes of the special meeting of the
Council of the City of Chanhassen held on September 24. 1984 with the
original thereof on file in my office. and the same is a full. true and
complete transcript therefrom insofar as the same relates to the issuance
and sale of $860.000 General Obligation Bonds of 1984. of the City.
WITNESS My hand officially as such Manager this
~. 1984.
stA day of
(S EAL)
/2} Q,~j;)
City Manager
City of Chanhassen, Minnesota
22
e
CITY OF CHANHASSEN, MINNESOTA
$590,000
GENERAL OBLIGATION IMPROVEMENT BONDS OF 1984
SCHEDULE OF PAYMENTS
e
e
$590,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1984
eYING AGENT: FIRST TRUST COMPANY CITY OF CHANHASSEN, MINNESOTA
EGISTRAR: FIRST TRUST COMPANY DEBT SERVICE PAYMENTS
OF ST. PAUL DATED DATE: 10/01/84
PR INCI PAL AMOUNT: $590 ,000
COUPON YEARLY
BOND NO DATE PRINCIPAL RATE INTEREST PA YMENT PAYMENTS
06/01/85 32,008.33 32,008.33
12/01/85 24,006.25 24,006.25 56,014.58
06/01/86 24,006.25 24,006.25
1- 14 12/01/86 70,000 7.2500% 24,006.25 94,006.25 118,012.50
06/01/87 21,468.75 21,468.75
15- 28 12/01/87 70,000 7.5000% 21,468.75 91,468.75 112,937.50
06/01/88 18,843.75 18,843.75
29- 42 12/01/88 75,000 7.7500% 18,843.75 93,843.75 112,687.50
06/01/89 15,937.50 15,937.50
43- 56 12/01/89 75,000 8.0000% 15,937.50 90,937.50 106,875.00
06/01/90 12,937.50 12,937.50
57- 70* 12/01/90 75,000 8.2500% 12,937.50 87,937.50 100,875.00
06/01/91 9,843.75 9,843.75
e71- 85* 12/01/91 75,000 8.5000% 9,843.75 84,843.75 94,687.50
06/01/92 6,656.25 6,656.25
86-100* 12/01/92 75,000 8.7500% 6,656.25 81,656.25 88,312.50
06/01/93 3,375.00 3,375.00
101-115* 12/01/93 75,000 9.0000% 3,375.00 78,375.00 81,750.00
TOTALS
590,000
282,152.08
872,152.08
AVERJ\GE COUPON
8.3641%
BOND YEARS
3,373.3
PREPARED BY JURAN & MOODY, INC.
e
e
*BONDS MATURING IN THE YEARS 1990 THROUGH 1993 (BONDS NUMBERED 57
THROUGH 115) ARE CALU8LE AT THE OPTION OF THE CITY ON
DECHI3ER 1, 1989, AND ON ANY INTEREST PAYMENT DATE THEREAFTER AT PAR
AND ACCRUED INTEREST.
THIRTY DAYS NOTICE OF BONDS RETIRED UNDER THIS OPTION SHOULD IN EACH
CASE BE GIVEN TO THE PAYING AGENT, REGISTRAR, JURAN & MOODY, INC., OF
ST. PAUL, MINNESOTA, AND THE LAST BONDHOLDER, IF KNOWN.
e
e
CHANHASSEN - $590,000
e DATED DATE 10/01/84
TOTAL PR INCI PAL $590,000.00
TOTAL PURCHASE PRI~ : $580,560.00
DISCOUNT : $9,440.00
aJMJLAT IVE
YEAR PR INCI PAL COUPON BOND YEARS BOND YEARS I NTEREST COST
--------- --------- -------- ---------- ---------- -------------
12/01/86 70,000 7.2500% 151 .666 151.666 10,995.85
12/01 /87 70,000 7.5000% 221.666 373.333 16,625.02
12/01/88 75,000 7.7500% 312.500 685.834 24,218.77
12/01/89 75,000 8.0000% 387.500 1,073.334 31,000.02
12/01/90 75,000 8.2500% 462.500 1,535.834 38,156.27
12/01/91 75,000 8.5000% 537.500 2,073.334 45,687.52
12/01/92 75,000 8.7500% 612.500 2,685.835 53,593.77
12/01/93 75,000 9.0000% 687.500 3,373.335 61,875.02
e
282,152.24
9,440.00
AVERAGE MATURITY 5.717 YEARS BID 8.64403 TOTAL 291 ,592.24
e
CITY Of CHAHAASSEN, HINNESOT A
GENERAl. OBlIGATION IK'ROVOENT BCN>S (J" 1984
PtEASANT HILL PROJECT
CASH FLOW ANALYSIS
DATE: SEPTEMBER 24. 1984
BOtI>S DATED:
OctobeT 1, 1984
ASSESs.ENT PERCENT
------------------------------------
----------------------------
YE~
(12-1) INTEREST
PRINCIPAl. RATE INTEREST
TOTAl. STATUTORY
D/S 5.~
INTEREST@) (COll. YR) SURPlUS CtMJl.
PRIN. 10.101 TOTAl TAX LEVY -DEFICIT BAlANCE
YEAR
---------------------------------------------------------------------------------------------------------------------
1984 CAPITAl INT------> 58815 0 58815 58815 1984
1985 56015 ~15 58B15 0 0 -58615 0 1985
1986 70000 7.25 48013 118013 123913 73750 59590 133340 0 94Z7 94Z7 1986
1967 70000 7 .~O 42938 112936 11 8554 73750 52141 125891 0 7307 16733 1987
1988 nooo 7.75 .37 668 112688 116322 73750 44693 118443 0 121 16554 1988
1989 75000 8.00 31875 106675 112219 73750 37Z44 110994 0 -122~ 15629 1969
1990 75000 8.25 25875 100875 105919 73750 29795 103545 0 -2374 13255 1990
1991 75000 8.50 19688 94688 99422 73750 22346 96096 0 -3326 9930 1991
199Z 75000 8.75 13313 88313 9Z7Z8 73750 14898 88648 0 -4081 5849 1992
1993 75000 9.00 6750 81750 85838 73750 7449 81199 0 -4639 1210 1993
---------------------------------------------------------------------------------------------------------------------
590000 282152 872 152 915760 590000 268155 916970 0 1210
&. dl"_ .. - -- -'-- -
AssumptIons:
1 .
In order to avoId any tax levIes, analysIs assumes project Is 100% assessed wIth
assessments certIfIed prIor to year end 1986. EarlIer assessment certIfIcatIon may
further reduce assessment rate from 10.10% used In analysIs.
CapItalIzed Interest amount deposIted Into debt servIce fund Is Increased from
$49,861 budgeted amount to $58,815. The $8,954 would come fram the budgeted
contIngency of $33,144, thereby reducIng the contIngency to $24,190.
ThIs analysIs does not take Into account Interest earnIngs on undrawn proceeds In the
constructIon and debt servIce accounts.
2.
3.
e
e
-
e
CITY OF CHANHASSEN, MINNESOTA
$215,080
GENERAL OBLIGATION TAX INCREMENT BONDS OF 1984
SCHEDULE OF PAYMENTS
e
e
~ $215,000 GENERAL OBLIGATION TAX INCREMENT BONDS OF 1984
~ CITY OF CHANHASSEN, MINNESOTA
PAYING AGENT: FIRST TRUST COMPANY DEBT SERVICE PAYMENTS
REGISTRAR: FIRST TRUST COMPANY OF DATED DATE: 10/01/84
ST. PAUL, MN PRINCIPAL AMOUNT: $215,000
COUPON
PRINCIPAL RATE
BOND NO
1- 8
9-16
17-24
25-33
34-43
e
e
DATE
06/01/85
12/01/85
40,000 7.0000%
06/01/86
12/01/86
06/01/87
12/01/87
06/01/88
12/01/88
06/01/89
12/01/89
40,000 7.2500%
40,000 7.5000%
45,000 7.7500%
50,000 8.0000%
TOTALS
215,000
AVERAGE mUPON
BOND YEARS
7.6856%
705.8
PREPARED BY JURAN & MOODY, INC.
INTEREST
10,791 .66
8,093 .75
6 ,693 .75
6,693.75
5,243.75
5,243.75
3 ,743 .75
3 ,743 .75
2,000.00
2,000.00
54,247.91
BONDS WITHOUT OPTION OF PRIOR PAYMENT.
PAYMENT
10,791.66
48,093.75
6 ,693 .75
46,693.75
5,243.75
45,243.75
3 ,743 .75
48,743.75
2,000.00
52,000.00
YEARL Y
PAYMENTS
58,885.41
53,387.50
50,487.50
52,487.50
54,000.00
269,247 .91
e CHANHASSEN - $215,000
DATED DATE 10/01/84
TOTAL PR INCI PAL $215,000.00
TOTAL PlJRCliASE PR I a; : $211,560.00
DISCOUNT: $3,440.00
aJt-ULATlVE
YEAR PR I NCI PAL COUPON BOND YEARS BOND YEARS I NTEREST COST
--------- --------- -------- ---------- ---------- -------------
12/01/85 40,000 7.0000% 46.666 46.666 3,266.68
12/01/86 40,000 7.2500% 86.666 133.333 6,283.34
12/01/87 40,000 7.5000% 126.666 260.000 9,500.01
12/01/88 45,000 7.7500% 187 .500 447.500 14,531.26
12/01/89 50,000 8.0000% 258.333 705.834 20,666.68
AVERAGE MATUR ITY
3.282 YEARS BID 8.17302
TOTAL
54,247.97
3,440.00
57,687.97
e.
e
e
e
e
~
CITY OF CHANHASSEN, MINNESOTA
$55,000
GENERAL OBLIGATION EQUIPMENT CERTFICATES
OF INDEBTEDNESS OF 1984, SERIES 2
SCHEDULE OF PAYMENTS
~ $55,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS OF 1984,
~ CITY OF CHANHASSEN, MINNESOTA
PAYING AGENT: FIRST TRUST COMPANY DEBT SERVICE PAYMENTS
REGISTRAR: FIRST TRUST COMPANY OF DATED DATE: 10/01/84
ST. PAUL, MN PRINCIPAL AMOUNT: $55,000
COUPON
PRINCIPAL RATE
BOND NO
1- 2
3- 5
6- 8
9-11
e
e
.;
DATE
06/01/85
12/01/85
06/01/86
12/01/86
06/01/87
12/01/87
06/01/88
12/01/88
TOTALS
AV ERJlbE COUPON
B~D YEARS
10,000 7.0000%
INTEREST
2,716.66
2,037.50
15,000 7.2500%
1 ,687.50
1 ,687.50
1 , 1 43 .7 5
1 , 1 43 .75
15,000 7.5000%
15,000 7.7500%
581.25
581.25
55,000
11,579.16
7.5108%
154.1
PREPARED BY JURAN & MOODY, INC.
CERTIFICATES WITHOUT OPTION OF PRIOR PAYMENT.
PAYMENT
2,716.66
12,037.50
1 ,687.50
16,687.50
1, 1 43 .7 5
16 , 1 43 .75
581 .25
15,581.25
SERIES 2
YEARLY
PAYMENTS
1 4,754. 16
18,375.00
17 ,287 .50
16,162.50
66,579.16
CHANHASSEN - $55,000
e DATED DATE 10/01/84
TOTAL PR INel PAL $55,000.00
TOTAL PURCHASE PR ICE: $54,120.00
DISCOUNT : $880.00
OJMJLAT I V E
YEAR PRINCIPAL COUPON BOND YEARS BOND YEARS I NTEREST COST
--------- --------- -------- ---------- ---------- -------------
12/01/85 10,000 7.0000% 11.666 11.666 816.67
12/01/86 15,000 7.2500% 32.500 44. 166 2,356.25
12/01/87 15,000 7.5000% 47.500 91.666 3,562.50
12/01/88 15,000 7.7500% 62.500 154. 166 4,843.75
AVERN;E MATURITY
2.803 YEARS BID 8.08161
TOTAL
11,579.17
880.00
12,459.17
e
e
YEAR
e
LINE 1m
mmrs
(CLAUSE "S" T1D)
(1001 TAX RE~V' D
19B5-1999)
TDTAL
---- -- ----------- --- -------- ------------------ ------ ----r-
19EI me. $0.00 $0.00
FORmm:
1983
..
19E4
1m.
mt
1i87
mE
1~E:9
1982
TAXES.
ri!5~.
iC1hl
TAXES
me.
TOT At
Tms
D/S-3:5~ ISSUE
fl!1S:'
.~,,~:
ilJlr:~
T~XES
rl 'r. ~tt:,.. '=-r :r
".. -" ..'..~.. ...~..-
D.l5-:~~~ :S~~E
"......
..J:....
raT A~
TA~EE
O/S-315~ ISSUE
t.'S-215~ r5S~E
PI!::.
70T :iL
T A1ES
Df5-31~~ I~BUE
DiS-:l~": ISSUE
",fer
I'"''''....
W~L
1ms
D/S-m~ ISS~E
n/5-2~~P' Issur
me.
rei hL
:me
t!S-3!~": !5SU~
ni5-21S~ IES~E
II!rs:.
TCT~~
46,075.00
4t,075.00
170,85E.OO
170,858.00
271,m.oo
271,33~.OC
1jtl~:~.C0
176,312.0C
lE:,se~.co
lE2,e8~.cc
lSi',m.oo
If:~, b~:. oc
m,m.oo
196,m.c~
203,E,:;7.00
2C3, e:~"7. C~
FORE~m or RE:E:rTS A.~: mS~'Rmms
T.I.D.II:.2
~ls8URSEr.ms
YEAR ENt
POSITI~
"'t
------------------...----------...--------------..-------..----------------------- till
TOTAL
$33,319.0~ m,m.oo (m,319.0~1
5,0:0.00
5,O:C.OC 41,Ot~.OC
5,000. CO
5,000.00 1~5,m.o~
42!2'E.O:
~,OCO.OC
4i,275.C: 2:~,O~:.~O
c.~c:.0:
~3, jr~.~-,:
C' !:r,' "':,
... ~ >I'... ..-..
~;,3(7.5(' 7e,m.~c
51,i6C.~~
~~ 'fc.... t'
<01...,....,11. ~...
5,C~~.C';
!lE,1:7.~~ 6~,7bt.50
77.1bO.~~
50, 4~7. ~c
~,oo~.c:
132,6(].5C 57 t CC5. ~o
93.0EC.~-~
C'... 'e'" ~...
.U.,~..l...'..
5, {,G'C. 0~
1~~~5t71~f; 46,C~E.~C
!C7 ,~~.C.~
~L.~QC.~
I: ,." ~ ,
.' I :"'~'.. '..
~fc,4~OltC' 37tt:7.:.~
e
CAS~ FLOW-DEFT SER\'ICE , me.
AliN~AL
nm CHARSE
COVERAGE
CU~JLATIVE
ymm
POSlTION
0.00
(m,319.00)
tIIPl'JLA T I VE
FIlED CHARGE
CO'v'ERASE
0.00 ::::
.111
III'
:: ::2.
IIII
I1I1
2.55 I:::
::::3.
lilt
'1"
'II.
II"
"'1
IIII
35.72 ::::
1111
1111
: : : ~
.,11
11(1
It I'
1111
9.4!
5.7E
5.57
"11
III1
1111
IIII
: : ~ :
I1II
I1II
Iltl
11,1
III'
, "
II1I
1III
9.20
7,m.OO
S.~C.
III'
Ill,
34.17
173,604.00
I'll
LIII
1'1'
:f'l
III'
Ill;
"11
Ill.
I'"
Ilfl
5.27
II!I
!I,l
5.74
. 397,6~t.OC
1111
"11
1!1'
11.'
Ilfl
fIll
.'
"
S~~\~ r:-:...
--..... _... - ....... -- --- - - - --....... _..-............ - -.....- -- ------- --- ..--- --.. -- -.. -..-........ -...- ......... - -.. -.. ...-- --... ~ ... --- ---- -- ------ - - -- ------ --- -......... -- ------ -- - - -- - .....--.. -- ..--- --_..--.. - ---...--
1\ '''C I " I
...}. . II I
S:..3~IS!~.C: r:I~:?,~4~.~';
,~~~. ~~...~;
s"r- L,~" r'
..',..- ....',
S~7;.~:~.~':
:: :::::::::::.::.:::::.:..:;; :;;:::.:.::.:.:: :;,::.:.:::=:.:. ::.::.:::: :.::: =::::::::::: =: ::=:=::.:::.:. :::
1.77
474,6:C.~O
1.~5
539,367.00
I.~"
5;613~:.5C
1.31
642,~S;.(C
I. 22
e 79, E~E'. (~
e
::: lNCTES:
;:: :--------_......
::::1.
ASSUI'lS m NO.2 IS A CLAUSE "S" DISTRICT f'OR P~'RrOSE or
PRESENTINE A COlISERJATI\'E FORECASr Of' AN~UAL ~N:l CU~UL~TlVE
RECEIPTS A~'D DISf:;R:~E1':;S.
1t/:LL'lIED AS ~ A"~"~L tISBL:;:~"EN; IS A $5000 AlImrSTRP7rvL
CHAm ANlI mms l~ Tf1E m:. lm.
TFE f'O~ECA5m m mmTS ~::;.E PficmElI BY ;HE cm.
I.I!
11(1
::;:
Itll
11II
I'"
I!l.
11!1
IIII
1"1
'1.1
'f'l
1111
I'll
11'1
1111
1111
:::;
"'1
"11
Ill!
1111
e
STATE OF HINNESOTA
COUNTY AUDITOR'S CERTIFICATE
AS TO TAX LEVY AND
REGISTRATION
COUNTY OF CARVER
I, the undersigned County Auditor of Carver County, }1innesota, hereby
certify that a certified copy of a resolution adopted by the governing body
of the City of Chanhassen, Minnesota, on September 24, 1984, levying taxes
for the payment of $860,000 General Obligation Bonds of said municipality
dated October 1, 1984, has been filed in my office and said bonds have been
entered on the register of obligations in my office and that such tax has
been levied as required by law.
WITNESS My hand and official seal this
~
day of
OcT
1984.
e
(S EAL)
By
Deputy
e
23
e
STATE OF HINNESOTA
DIRECTOR OF PROPERTY
TAXATION'S CERTIFICATE AS TO
T~~ LEVY AND REGISTRATION
COUNTY OF HENNEPIN
I, the undersigned Director of Property Taxation of Hennepin County,
Minnesota, hereby certify that a certified copy of a resolution adopted by
the governing body of the City of Chanhasscn, Minnesota, on September 24,
1984, levying taxes for the payment of $860,000 General Obligation Bonds of
said municipality dated October 1, 1984, has been filed in my office and
said bonds have been entered on the register of obligations in my office
and that such tax has been levied as required by law.
WITNESS My hand and official seal this 9th
day of October
1984.
e
Director of Property Taxation
Hennepin County, Minnesota
(S EAL)
By~~-f ~
Deputy
e
24