2020-58CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: October 26, 2020 RESOLUTION NO: 2020-58
MOTION BY: Coleman SECONDED BY: Campion
RESOLUTION AUTHORIZING THE CALL OF THE OUTSTANDING
GENERAL OBLIGATION LIBRARY REFUNDING BONDS, SERIES 2010A
WHEREAS, by a resolution duly adopted on December 14, 2009 (the "Resolution"), the
City issued $3,700,000 original principal amount of General Obligation Library Refunding
Bonds, Series 2010A, dated January 27, 2010 (the 'Bonds"). The City has sufficient funds on
hand in the debt service account of the General Obligation Library Refunding Bonds, Series
2010A Fund (the "Debt Service Account") to call the remaining $840,000 outstanding principal
amount of the Bonds at a price of par plus accrued interest.
NOW, THEREFORE, be it resolved by the City Council of the City of Chanhassen,
Minnesota, as follows:
1. The City Council hereby determines that there exists sufficient funds in the Debt Service
Account to prepay on December 2, 2020, $840,000 aggregate principal amount of the
Bonds and the interest due thereon.
2. Bond Trust Services Corporation, in Roseville, Minnesota, the paying agent for the
principal and interest on the Bonds payable, is hereby authorized and directed to cause
the Notice of Call for Redemption attached hereto as Exhibit A to be given in accordance
with the provisions of the Resolution.
3. No further action shall be required of the City Council to complete prepayment of the
Bonds.
Passed and adopted by the Chanhassen City Council this 26"' day of October, 2020.
ATTEST:
Heather Johnston, Vterim City Manager
YES NO
Ryan
McDonald
Tjornhom
Campion
Coleman
Elise Ryan, Mayor
ARQ,F.NT