2010-76 EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF CHANHASSEN, MINNESOTA
HELD: September 13, 2010
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Chanhassen, Carver and Hennepin Counties, Minnesota, was held at the City Hall on
September 13, 2010, at 7:00 o'clock P.M.
The following members were present: Furlong, Ernst, Litsey, McDonald & Tjornhom
and the following were absent: None
Member Litsey introduced the following resolution and moved its adoption:
RESOLUTION 2010 -76 CALLING FOR REDEMPTION
OF CERTAIN OUTSTANDING BONDS
A. WHEREAS, the City of Chanhassen, Minnesota (the "City ") issued $2,070,000
General Obligation Bonds, Series 2004A, dated August 10, 2004 (the "Bonds "), of which
$260,000 remains outstanding; and
B. WHEREAS, all Bonds matunng in the years 2011 and thereafter, are subject to
redemption and prepayment at the option of the City, on February 1, 2009, and on any date
thereafter, at par and accrued interest, all as provided in the resolution of the City Council
adopted on July 12, 2004, authorizing the issuance of the Bonds (the "Prior Resolution "); and
C. WHEREAS, the City Council deems it desirable and in the best interests of the
City to call the 2011 through 2015 matunties of the Bonds, totaling $260,000 in principal
amount, on October 19, 2010, in accordance with the Prior Resolution.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Chanhassen, Minnesota, as follows:
1. Bonds to be Redeemed. Bonds matunng in the years 2011 through 2015,
inclusive, shall be redeemed and prepaid on October 19, 2010 at par and accrued interest.
2. Mailing of Notice of Call for Redemption. The City Manager shall cause the
Notice of Call for Redemption attached hereto as Exhibit A to be mailed thirty days pnor to
October 19, 2010, to the paying agent for the Bonds.
3. Deposit of Sufficient Funds. The City Finance Director is hereby authonzed and
directed to deposit with the paying agent prior to October 19, 2010, sufficient funds to pay the
principal and interest due on the Bonds called for redemption.
The motion for the adoption of the foregoing resolution was duly seconded by Member
McDonald and upon a vote being taken thereon, the following voted in favor thereof: Furlong,
Ernst, Litsey, McDonald & Tjornhom.
and the following voted against the same: None
Whereupon the resolution was declared duly passed and adopted.
STATE OF MINNESOTA
COUNTIES OF CARVER AND HENNEPIN
CITY OF CHANHASSEN
The undersigned, being the duly qualified and acting City Manager of the City of
Chanhassen, Minnesota, do hereby certify that I have carefully compared the attached and
foregoing extract of minutes of the City Council of the City of Chanhassen, Minnesota, held on
the date therein indicated, 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 authorizing the redemption
of Bonds.
WITNESS my hand as such City Manager on September 13, 2010.
, ,P 7 1/ A t L_C
City anager
Exhibit A
NOTICE OF CALL FOR REDEMPTION
GENERAL OBLIGATION BONDS, SERIES 2004A
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES
MINNESOTA
NOTICE IS HEREBY GIVEN that by order of the City Council of the City of Chanhassen,
Carver and Hennepin Counties, Minnesota, there have been called for redemption and
prepayment on
October 19, 2010
those outstanding bonds of the City designated as General Obligation Bonds, Series 2004A,
dated August 10, 2004, having stated maturity dates in the years 2011 through 2015, inclusive,
and totaling $260,000 in principal amount.
Year CUSIP Number*
2011
2012
2013
2014
2015
The bonds are being called at a price of par plus accrued interest to October 19, 2010, on which
date all interest on the bonds will cease to accrue. Holders of the bonds hereby called for
redemption are requested to present their bonds for payment, at Bond Trust Services
Corporation, 3060 Centre Point Drive, Roseville, Minnesota, on or before October 19, 2010.
Dated: September 13, 2010
BY ORDER OF THE CITY COUNCIL
/s/ Todd Gerhardt
Manager
*The City shall not be responsible for the selection of or use of the CUSIP numbers, nor is any
representation made as to their correctness indicated in the notice. They are included solely for
the convenience of the holders.
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