RES 13-35 Extract of Minutes of Meeting of the
City Council of the City of Elk River,
Sherburne County, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the Council of the City of Elk
River, Minnesota, was duly held in the City Hall in the City of Elk River, on Monday,June 17, 2013,
commencing at 6:30 p.m.
The following members were present:
Mayor Dietz, Councilmembers Wilson, Durandt, Westgaard, and Motin
and the following were absent:
None
Member Wilson introduced the following resolution and moved its adoption:
RESOLUTION NO. 13-. 35
RESOLUTION PROVIDING FOR THE REDEMPTION OF CERTAIN OUTSTANDING
ELECTRIC REVENUE BONDS, SERIES 2004A OF THE CITY
BE IT RESOLVED By the City Council of the City of Elk River, Sherburne County,
Minnesota (the"City"),as follows:
1. The City has issued its Electric Revenue Bonds, Series 2004A, dated August 1, 2004
(the`Bonds"), in the original aggregate principal amount of $940,000. The Bonds maturing on
February 1 in the years 2014 and 2015, in the aggregate principal amount of$225,000 (the "Callable
Bonds"),are subject to redemption and prepayment on any date at a price of par plus accrued interest.
2. The Elk River Municipal Utilities Commission has requested, and it is determined that
it is in the sound financial management of the City, that the Callable Bonds be prepaid and redeemed
on August 1, 2013, or such later date for which proper notice of call may be given, and such bonds are
hereby called for redemption on such date.
3. The City Finance Director is authorized and directed to request that U.S. Bank National
Association, the paying agent and bond registrar (the "Registrar"), mail the Notice of Call for
Redemption in substantially the form attached hereto as Exhibit A to the registered owners of each
Bond to be redeemed at the addresses shown on the registration books kept by the Registrar.
423469v2 JS13 ELI 85-18
The motion for the adoption of the foregoing resolution was duly seconded by Member
Motors ,and upon vote being taken thereon, the following voted in favor thereof:
Mayor Dietz, Councilmembers Wilson, Durandt, Westgaard, and Motin
and the following voted against:
None
whereupon said resolution was declared duly passed and adopted.
A "
k 11 J. Dietz,Mayo°
v' r
ATTEST:
Tina Allard, City Clerk
423469v2 JSB EL185-18 2
EXHIBIT A
NOTICE OF CALL FOR REDEMPTION
ELECTRIC REVENUE BONDS, SERIES 2004A
CITY OF ELK RIVER
SHERBURNE COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that, by order of the City Council of the City of Elk River,
Sherburne County, Minnesota, there have been called for redemption and prepayment on
August 1, 2013
all outstanding bonds of the City designated as Electric Revenue Bonds, Series 2004A, dated August
1, 2005, having stated maturity dates of February 1 in the years 2014 and 2015, totaling $225,000 in
principal amount:
Year of Maturity Amount CUSIP
2014 $110,000 287423 AJ6
2015 115,000 287423 AK3
The bonds are being called at a price of par plus accrued interest to July 1, 2013, on which date all
interest on said bonds will cease to accrue. Holders of the bonds hereby called for redemption are
requested to present their bonds for payment at the main office of U.S. Bank National Association,
in St. Paul, Minnesota, on or before July 1,2013.
If by mail: If by hand:
U.S. Bank National Association U.S. Bank National Association
Corporate Trust Operations 60 Livingston Avenue
60 Livingston Avenue 3`d Floor—Bond Drop Window
EP-MN-WS3C St. Paul,MN 55107
St. Paul,MN 55107
Important Notice: In compliance with the Jobs and Growth Tax Relief Reconciliation Act
of 2003, 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.
Dated: June 17,2013.
BY ORDER OF THE CITY COUNCIL
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