2005-34
e
e
.
EXTRACT OF MINUTES OF MEETING
CITY COUNCIL OF THE
CITY OF CHANHASSEN, MINNESOTA
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of
Chanhassen, Minnesota, was duly called and held at City Hall in Chanhassen, Minnesota, on Monday, March
28, 2004.
The following members were present: Mayor Furlong, Council Members Lundquist, Peterson &
Tjornhom
and the following members were absent: Councilman Labatt
Member Lundquist introduced the following resolution and moved its adoption:
Resolution No. 2005-34
RESOLUTION CALLING FOR REDEMPTION OF OUTSTANDING GENERAL OBLIGATION
IMPROVEMENT BONDS, SERIES 1998B, DATED JUNE 1, 1998
WHEREAS, the City Council of the City of Chanhassen, Minnesota (the ACity@), issued on
behalf ofthe City $1,325,000 General Obligation Improvement Bonds, Series 1998B, dated June 1, 1998
(the ASeries 1998B Bonds@), of which $305,000 still remain outstanding; and
WHEREAS, all of the Series 1998B Bonds maturing in the years 2006 and thereafter, are subject
to redemption and prepayment at the option of the City, on February 1, 2005 and on any date thereafter at
par, plus accrued interest, all as provided in the resolution adopted by the City Council on May 26, 1998,
authorizing the issuance ofthe Series 1998B Bonds (the A1998 Resolution@); and
WHEREAS, the City Council deems it desirable and in the best interests of the City to call those
bonds maturing in the years 2006 through 2007, both inclusive, totaling $305,000 in principal amount, on
May 18,2005, in accordance with the 1998 Resolution; and,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chanhassen,
Minnesota, as follows:
(1)
All of the Series 1998B Bonds maturing in the years 2006 through 2007, both inclusive,
totaling $305,000 in principal amount shall be redeemed and prepaid on May 18,2005, at
par, plus accrued interest.
.
e
.
(2)
The City Manager is hereby authorized and directed to give mailed notice of call, prior to
May 18,2005, for the Series 1998B Bonds, to the Bond Registrar/Paying Agent, U.S.
Bank National Association, in St. Paul, Minnesota, as successor to Firstar Bank, N.A., in
Milwaukee, Wisconsin, (f/k/a Firstar Trust Company), as agent for Firstar Bank of
Minnesota N.A., in St. Paul, Minnesota. Said notice shall be substantially in the form
shown as Exhibit A.
(3) The City Manager is hereby authorized and directed to deposit with the Bond
Registrar/Paying Agent of the Series 1998B Bonds, U.S. Bank National Association, in St.
Paul, Minnesota, as successor to Firstar Bank, N.A., in Milwaukee, Wisconsin, (f/k/a
Firstar Trust Company), as agent for Firstar Bank of Minnesota N.A., in St. Paul,
Minnesota, prior to the call date of May 18,2005, sufficient funds to pay all principal and
interest due on the Series 1998B Bonds as of the call date.
The motion for the adoption of the foregoing resolution was duly seconded by Member Tjomhom
and upon a vote being taken thereon, the following voted in favor thereof: Mayor Furlong, Council
Members Lundquist, Peterson & Tjomhom, and the following voted against the same: None.
Whereupon said resolution was declared duly passed and adopted.
!I\J) Au
~
CIty ClerklManager
~~l
Mayor """"____~
.
e
.
EXHIBIT A
NOTICE OF REDEMPTION
General Obligation Improvement Bonds, Series 1998B
Dated June 1, 1998
City of Chanhassen, Minnesota
NOTICE IS HEREBY GIVEN that by order of the City Council of the City of Chanhassen, Minnesota, there
have been called for redemption and prepayment on
May 18, 2005
the following outstanding bonds of the City designated as General Obligation Improvement Bonds, Series
1998B, dated June 1, 1998:
Maturitv Date
February 1, 2006
February 1, 2007
Principal Amount
$155,000
150,000
Interest Rate
4.40%
4.45%
CUSIP Number*
159105 P82
159105 P90
The bonds are being called at a price of 100% of their principal amount plus accrued interest to May 18,2005,
on which date they will cease to bear interest. Holders of such bonds hereby called for redemption should
present their Bonds for payment to U.S. Bank National Association (successor to Firstar Bank of Minnesota,
N.A.) at the address below, on or before May 18,2005.
If bv Mail
If bv Hand or Overnight Mail
U.S. Bank National Association
Corporate Trust Department
P.O. Box 64111
St. Paul, MN 55164-0111
U.S. Bank National Association
U.S. Bank Center
1 Sl Floor - Bond Drop Window
60 Livingston A venue
St. Paul, Minnesota, MN 55107
It is recommended that you mail your bonds registered or certified mail to guard against loss.
BY ORDER OF THE CITY COUNCIL
CITY OF CHANHASSEN, MINNESOTA
Is! Mavor
Dated: March 28, 2005
Important Notice: In compliance with the Economic Growth and Tax Relief Reconciliation Act of 2001,
federal backup withholding tax will be withheld at the applicable backup withholding rate in effect at the
time the payment by the redeeming institutions if they are not provided with your social security number or
federal employer identification number, properly certified. This requirement is fulfilled by submitting a
W -9 Form, which may be obtained at a bank or other financial institution.
*Neither the City nor the Bond Registrar/Paying Agent shall be responsible for the selection of or use of the
CUSIP number, and no representation is made as to its correctness indicated in the Notice of Redemption.
CUSIP numbers are included solely for the convenience of the Holders.
e
e
.
STATE OF MINNESOTA
COUNTIES OF CARVER AND HENNEPIN
CITY OF CHANHASSEN
I, the undersigned, being the duly qualified and acting City Manager of the City of Chanhassen,
Minnesota (the "City"), hereby certify that I have carefully compared the attached and foregoing extract of
minutes of a regular meeting of the City Council of the City held on Monday, March 28, 2005, with the
original minutes on file in my office and the extract is a full, true and correct copy of the minutes, insofar as
they relate to the redemption of certain General Obligation Improvement Bonds, Series 1998B of the City.
WITNESS My hand as City Manager and the corporate seal of the City this 28th day of March, 2005.
~~~
City of Chanhassen, Minnesota
(SEAL)