RES 08-046~~~ ~~~L
~~; ,l~~i~~ l~, ?aa~
~'«~~~~~~~ ~o d~~~ gall aid ~a~~a ~~~~~a', ~~~~~lr ~~~~a~~~~~ of ~~~~ a~~~~~~ a~ ~~e icy a~
~1~ ivat,, 1~~~~b~~-~~~ a~~~~~~, ~n~~~a~a, ~~a duly ~~~1~ a~ ~~ad ~ ~~~~ ~~~ ~~1~ a~~ J~x~~a 1 ,
?aka at ;~a a'a~al ~.., o~ ~~a p~~Y-pa~a i~~ ~~~~ o~ a~~~~~a~i~~~ ~~~ isua~~c~ a~` ?~43 l,~aa
az~~}~ ~bl~~~ia~~ ~a~a~~~d fan data a~' Zaa a ~~~ ~~~.
7'~~a ~ala~~~~~~ ~~~~~~~~~ ~~~~e ~~•a~a~~~ ~~~r~~o~~ ~~~~~~~~~~ ~c~~rcr~~~rrrr~~~s ~"~~•~;
xtrt~~~~~t~~e~~, ~f~o~r'~t, c~~~c~ G1~1~~5
~~~ ~~~e folla~~~~~~ ~~a~e abe~~~: .~~~~
Nla~~~be~ ~a~~laa~ ~~.~~a~~~~ed ~~e a~a~~lil r~al~~~~a ~~~d ~~av~d its a~~~a~~:
~~~JT~~ 08-~6
A.. ~~~~~.~., ~l~a ~~y ~a~~~~i~ of ~1~~ i~ a~ 1~~ ~i~a~, ~~~~~~~sa~~ {~l~e "~i~~r"~}
~~ l~~re~a~a~~ ~~1~~ far . ~o~~~ ~ia~~~ ~l~a ~~~~~~sata ~~~l~~c ~ac~l~~~a A.~~~l~a~+i~ {tie "~~~'"} to
p~a~~de ~i~~~~~~~~~~ ~~~xrs~~~~~ ~a .i~~~~a~a ~~~~~e, l~a~ta~ X75 ~~~d ~a~~a~~ ~~..0~, fa~~ ~~~e
ca~~C~~~c~~at~ a~~l~a 193~d ~.ve~~~~e ra~ac~ {tl~a ::~~'a,~~c~"~; ~~~d
~. ~~T~~~.~, ~1~ ~~~`~ ~s ~~~~l~a~~zad pu~st~~~~ to ~~~~aeat~ t~~~~~ ~~~~~~r
~-~~, ~ a~~~a~~d~~, ~o ~~s~~~ ~~s ba~d~ {~~a "~~~. a~~~'#} a~~d ~a ~~~ ~l~e p~oced~ ~~~~~a~,
ta~~tl~~~~ ~~i~~~ ae~ ~~~~ a~~~a~ ~'~.~z~~, to p~a~~da laa~~~ .~~d o~~~~~{ a~~~a~~c ~a ~~~~~.~~~ci~~l~~~ a ~~~~~
~i~~l~ ~a~ of ~a~~s~~~~c~~a~~ a~` ~r~a~pa~~~~a~ ~~aj~~~ ~~~ ~~~a~d~~~ca ~~i~l~ lr~~~esat~ ~~~~~,
~c~ia~~ ~~A..a; a~~
~~~~~, ~~~~ ~~y 1~~~ ~~lid ~o~ la~~~ ~x~a~~~ ~l~a 1V~~~.~. ~~~z~~~a~~ ~a s~~c~~
~ara~~~IZl ~~ad ~~~ ~'~ leas ca~~~~~~t~~~d ~a ~~~al~~ o~~~ ~a ~~ae i~~r ~~~ ~l~a ~~i~~a~~~~l ~~~~o~~~~~ of
~,~~ 1,5aa ~a l~~ d~s~~~~~s~~l .~~ ~a~~~l ~~~ ca~rl~~ ~~~~~ ~1~ te~~~~ a~ ~. ~~~~~ea~ ~~bl~c
~~c~~~~ie ~~~~7a~~~~~ ~~oje a~~ ~~ Gaz~el ~l~Ii~~~ia~~ a~~d P~~~~~l~a~e ~.ee.e~~
{~~a~~pa~~a~~a~l ~.~~ral~#~~. ~cx~~d} N~PF~~7-~~a~r.w~a8, d~t~~ ~~i~ ?, ?~a {~~~ "'raaa~
Lo~~~ A~raa~~~a~~~"~, a calay a~~~rl~~cl~ lea l~ea~~ p~i~~~~ed ~a tl~a a~~~~c~l ~~~d ~s o~~ ~'i~a ~~~~~~ ~~~
ll~~~~C ~1~'~C~a~`; ~~~d
~. ~~'~~, tl~e ?,~ a 1,0a e~~e~~~ ~1~~~~a~~ ~~~W~~d ~a~.Il NOS a~?~a~ ~tl~
"aye"} i ~~~~~~~p~ ~~~~ ~l~e i~}~ ~vil~ ~~a~~, ~a a~~~zre ~1~~ ~~~~~a~~~~~~a~~ a~` ~~~ ~~~A, ~at~~;
a~~d
2 ] 7(~f~t.~~ti~ l
~~1~, ~~~ aaca~~da~~ ~~i~~~ ~~~asa~~ ~~«~~~, acia~~ ~~,4, ~~di~r~~ia~~
?~4}, ~~ i~~ i ~u~~arized ~a sue ol~~a~ia~s ~a a b~~rd, d~~ar~~nan.~ ~r a~anc~ o ~~~a ~~e of
~~~~~~~o~a ~y ~~aat~~ia~~ ~~~ ~vit~~a~~ ~~aia~~~~n~ far t~~d~ and ~~~~ ~A i, ~~~d ~~
t~pre~n~ad~ ~~7~t ~t i, a baa~d, depar~n~en~ ar a~e~~ay of ~l~e ~~~a of ~~~~na~a~; n~d
~~A, con~ra~ ar a~~~t for ~~~ ~ra~ec~ ~~ave ee~~ ~a~e bar t~~e ~~~
~v~~~ ~~~e p~ro~a~ of ~~~a ~~~. aid alb o~~~er sta~~ n~ f~d~~~~ a~~~~a~e off' ~~r~~~c~~ a~~ravl ~
N~~V, 7~~.~~~'~~, B~ ~' ~~~~~ ~~ ~~ a~~~~~ii of~~~a City af~l~ River,
~~~~o~~, a~ ~`a~~a~~r~:
~ . ece~~~~nce of ~ffe~~t ~a~~e~~~. 'T~~~ n~fer of ~~~a ~~~`, ~a ~~~re~~ase ~~e ale ~~
tl~e rye of ~~~exe~ ~~~~eir~~f~a~ ~~ f~r~~~, ~~d ~a pay ~erefar ~~~e s~~t~~ of ~,~~ ,a0 ~rov~e~
~lo~~t, ~s ~~e~~e~~ eee~~ed, ~~d ~~~ safe of~~~e Node ~ ~~~~}~ ~vard~~ ~a ~l~e ~',. ~'~n~er~~ for
~~~~ Nape l~al~ ~ n~~~ ~~~ ~n~~~~~~a~~ as e~i~~e ~as~ of fi~~ ~~~a j ec~ a~•e re~n~ur~d or ~~~d, a~~
~ravi~~d i~~ the P~+ajac~ Lain ~~aa~~~~~~~.
?, ~~.~e; ~e1~an~i~~a~~a~~~ ~~~ter~~ ale; ~a~~~~'~~~es, T~~e Nape ~~~~11 e ~ f~~ll~
re~~tred ~e~a~~~b~e o~I~~a~~a~~, s~~a~~ e aed~ a of~~~e ~~~e o~a~~~ar~, ~~a~~ e ~ss~~ed
~`o~~~~~~~r~~~, s~~~~~ ~o i~~ t~~o pr~~~e~~~ a~.~o~~~~ of ?,43 ~,aa, ar so ~~~~~cl~ ~~~ero` ~ l~a~~
d~~ur~~ ~~~~ ~~~r~ ~o ~~~~ ~ra~ec~ loan ~ee~, ~~~~ er i~~~er~~ a~~ sa ~~~~~~~ of ~~~e ~ri~~i~~~
~~~o~~~~~ o~ ~~~ Nape I~~a~r ~~ d~~lred ~n.d r~~~~~n~ ~~npi ~~~il ~~~ ~ri~~eip ~~~~at~n~ of ~~~
~~aa ~~ b~e~~ ~~d o~~ Ins been p~iav~de~ for, a~ the r~~a of aye and ~~~ree ~~«~~dred eeve
~~~~n~;~d~~~ ~erae~~~ ~ .~ ~ ~I~~ fez a~~~~n~ ~ca~ou~~e~ on ~~~~ b~si~ of ~ 3~4~~.y ~~.~ of ~~~re~~e ~~~
~y n~a~~~i~~, ~~~e~~~s~ an ~~~e ale ~s a~~~~e en~~a~u~~~~~~ an. ~'ebr~~ar~ ?~ ~~~d ~.~~~s~ 20,
co~~~~~~e~~ain At~~~~~ ?~, ?aa. ~n~eres~ ~ar~~ ~ccru~n~ ~~ af~~~e ~~~e a~~~e in~~~~~ d~~~ran~e~~~,
~'r~~~c~~~ an tl~e a~~ ~~l~ ~~~.~~~~~ an Au~u~ ~D ~~~ ~~e years a1~d ~~~s~al~~~~e~~~ a ~`a~~a~~:
~~t~ ~no~~~~~ gar ~a~~~~~
?~~ 5~a,aDa ?a~ 4~,a0a
?~a 47~,aaa Zak? ~?,aaa
~ 10 ~8a,aaa ~0 3 1,aaa
~~~~ere~ l~al~ ~oer~~e a~~~y a~~ ~~~ ~ea~~ pr~~~~~al ~~o~~n~ off" ~~~e ~No~~ ~v~ie~~ ~~~ ~~~~
d~~~rsed a~~d ~s ~~r~ai ~~n~er flee ~'ra~ ~~~ ~a~~ .~~re~~n.~. ~`~e r~ne~~al ins~all~~~en~s s~~~~l ~e
paid ~~~ ~~~a a~~~o~~n~s se~~ed~le~ above even ~~ ~~~e ti~~e af~ayn~~~~ tl~~ .~~~~~ r~ne~pal ~~~~a~~~a off`
t~~e ~o~e ~~~ ~~a~ ~~n di~~~rsed~ ~rav~~~ ~~at ~~' ~~~~ f~ prr~~eipa~ a~~~aun~ of ~~~e ~a~o i ~~evx
~~s~rrse~., ~~ an~o~,~~~ a~ ~~~~ pr~nc~~~.~ ~a~ ~~u~'sed ~~~~~~ ~~ ~~~~~~ ~a red~~ce ea~~~ u~~~~aid
~rinei~al ~ns~a~Xn~~~f ~n ~~e ~ro~aar~~an ~~~~ s~~c~~ ins~~ll~en~ dears ~o ~~le ~a~a of ~~ ~~na~d
~ri~~c~~a~ i~~s~a~l~~~e~~~ ~~,e,, ~~~~ re~~~a~~~~~~ p~~n~pa~ ~~.~~e~~~ sc~aed~z~e s~~a~ ~ ~~e~~~or~~~ed ~o
~ro~~de si1~~~~ar~~ ~~~~ ~~~~~~~~ ~n~a~~~e~~s o`~a~a~ ~eb~ ser~v~ce pay'~~~e~~s~. ~r~~~i~~} ~~~~ere~
~~~~d and ~zie~~~~~~n~ title ~~~~~er ~~~e Nape ~vi~~ be paid o~~ ea~~ ~y~~e~~~ date ~~ ~~~re ~a.ne~~~, a~• y
c~ec~~ ar' dr.~: ~~~a~~e~ ~~ ~ea~ eve ~~~~~ess days p~•~ar ~a ~~~~ pay~~~~~~t dale ~a ~~~~ ~~~~a~~ in ~~~ae
~~~I~~~ t~~ ~o~ ~ ~~1S~~~~~, ~~~ ~~~ a~~ a~' C~~~"r~l~y ~~fi~e ~I]1~C~ ~~e ~~~~~e~~ .~ ~~~~ ~~~~~~ of
ayn~e~~~ ~ e~.i t~~~~er ~orp~~bl~ ~~.~ ~rtva~e de~~s.
? l 7~)~i~~v 1 ~
hxterest o~~ the Note it~el~des a~~~ar~~~t treated ~y tl~e N~~F as service fees.
~u~-~~~ off, Tire proceeds of the Nate ~~~~~ pra~ride f~~~~ds to ~~~a~~ce
ca~~str~~ctia~~ of the ~~a~ ect. The ta~ai cost of the ca~~structia~~ of the ~ro~eat, zn~~di~~~ ~e~i aid
at~~er ~raf~ia~aal charges, ~~~iicatio~~ ~~ ~ri~~t~~~ cots, interest accr~~it~~ o~~ ~~ae~ ~arro~~ed
far t~~e ~raject befare the ~ai~ectia aff~~tre ~~;~ici~~a~ State-,~d Street f~~~~s aprapriated
t~~erefar, a~~d ali other casts ~eceari~~ i~.curred a~~c to be i~~c~~~f~. fxo~~~ the ~~~aept~a~~ to the
a~~~p~etiax~ afthe Project i eti~~~ated to ~e at feast eq~~ai to the ~.~eate ~ri~~ai~a~ a~~~a~~~t of
the Nape, ~~~e pity ca~ena~~ts that it sh~l~ da a~i ~~~~~ ~~,~ perfarr alb acts re~~~ired of it to
ass~~re that ~var~~ a~a the ~raject proceeds v~rith d~~e dil~~e~~ce to aa~7~ietia~~ and that ar~~ ~.~~~ ali
pe~~~~its a~~d st~~dies req~~ired ~~~~.e~- la~~ f~~- the ~raject are abtaied. the a~rera~e a~~~a~ ~~~o~~t
of ~~ri~~cipai a~~d i.~~ter eat d~~e ~~~ aii s~~hse~uet~t ca~e~~dar dears a the Nate payable ~`~"arr~ t~~e its'
acca«~~ of the ~~~~~icipal State~~~d Street ~~~~~~ ~ ~ does ~~at exceed r~i~~et~ perce~~t
of tl~e .~~a~~~~t of the last a~uai aliat~ne~~t precedi~~~ the iss~~a~~ce of the Note received ~y the
~it~ f~ra~ the o~~structia~~ ~cca~~~~t afthe ~~~icipal tte~id~ Street r~~~d ~
~. .e~~~~~ptia., The Nate shall be ubj ect to rede~.~ptia~~ and prepay~~~e~~t i~~ ~~hole
ar in part at the option ofthe ~~~~ ar ~~~a~acatarii~ ~ ~~"a~vted in tea P~ajact ~a~~ A~~aet~~er~t. ~f
rede~~~ptia~~ ~ i~7 ~~art, i~~stall~~~e~~ts ofpri~~a~pa~ payable last ~~~~der the Nate shall be Prepaid first,
~~~~less the pity a~~d tine ~~o~cler of the Nate agree to ~. differe~~ ~ es~~~t,
.
~itr~~~o~~ ~` ~I~~, ~t the ti~~~e of isr~anae and delivery of the Nate, the c~f~cer
of t~~e pity perfa~-~~~i~~ the f~.~~ctio~~s of the trea~~rer the "~'i~~aa~ce irecto~"f'~ ~~ ~e~i~er the
Nate i~~ the ~~~~~~ of the payee ~~~ a ~~ate register ~~rl~ich he ~d his s~~ccessars in office shall
~~~ai~~tai~~ far the p~~t~ase of ~"e~ter~~~ the o~~~~ershil~ of the Nate. lie Note shai~ be prepared
fax e~ee~~tia~~ ~~ith ~~ apprariate test ~~~ spaces far ~~atatia~~ afr~istratia~~. ~'he force ~~~~
e.ffeet of such ~~e~xstrtxa~~ shall be as stated ~~ the fa~~~ afNc~te herei~~after set forth Payn~e~~t of
pri~~cial i~~sta~l~~e~~t ~~~ i~~terest, 4~hether ~~pa~~ rede~~~tior~ a~ athe~~~ise, ~~~ade ~vith respect to
tl~e Nate, ~~~~ he ~~~de to the ~`e~iste~'ed holder thereafar to tl~e holder's Ie~al rep~"ese~~tat~ve,
~~~ti~o~~t prese~~tatia~~ or s~~~~ ender of the Nato.
~'aI`~~1 of Nate. ~"he Note, t~~~the~' ~v~~h the ert~ficate of ~e~~st~"at~al~ ~.t~aChed
t~~ereta, sl~all be ~~~ ~xbsta~~tiali}r the faila~~in~ fa~-~:
~JNIT~~ ST~T~S F ~~A
~~~ ~~T~
~'l~e pity of ~~~ diver, Sherburne a~~ty, i~nr~esota the "pity"}, certifies that it i
i~adebted a~~d for ~~alr~e received pra~.~ises to paY to tl~e N~ir~~esota. ~'~.~l~lic 'aci~itie ,~utharity ar
the ~~e~istefed asi~~, the la~-i~~cipi ~~~~~ af~""~ ~~~~~~N ~~ ~~~ ~"~~~"~ DNS
~'~~JS,ND ~'~'~ ~~~ ~O~A~.S, ar sa ~~~~~ch thereof a sl1a~i ha~re bee~~ d~b~~red,
ors A~x~~ist ~a i~~ tl~e years ,~~~ i~~stall~~~ent as folla~v:
? l 70~at)f~v 1
~~~' .~,.n~.Dl,~nt
~~~ ~~al ,n~a~lnt
Baas aa~aaa ~a~ ~ ~~~,aao
?aa~ 474,aaa ?alb ~?,aaa
?aa ~~a,aao ?a~~ ~~,aaa
and to pay interest an sa n~~~ch of the pr~ne~pal an~a~rnt of the debt as nay be d~~~~rsed and
re~~lains unpaid until tl~e p~.ncipal a~~naunt l~ereaf i paid or ~.~ been provided far, at the rate of
one and tl~•ee hundred eleven l~~~ndredtl~ pe~'cent ~~ .~ ~Ia~ ~~~ a~~1~~n~ ~calc~~lated an the basis of
~ a~day dear aft~velve ~a-~~ n~anths~. interest an tl~i Nate i payable en~ia~~,nually on
Febr~~ar'~' ~a and At~~ust ?a~ con~n~encin~ ~u~~~t ?a, ?aa. ~~terest starts accrriin~ as afthe date
of the initial dish~~~'se~~ent.
Pri~~ci~~al ~~~ ,~~~re~ ,ae~~t~. ~~teret shall aeer~~e only on the aureate a~~~aunt of
this Nate ~~rhicl~ hay dean disb~~rsed ender the ~innesata ~'~~bl~ Fazlitie .~~ithority F~'a~ct Loam
and general ~hlia~ian fond purchase ~r~en~ent ~Transpor tation evolvi~~ Fund} ll~F~~~~~
aDa~~.~F~a~, dated as af~.pril ?~, ?OaB, by and between the ~~~ and tl~e iVTr~~nesata l~~~bl~e
Facilities .~~~tl~ority the "Frog eat Lawn ~.reen~ent~'~. The principal ~~~stallrnent shall be pYd ~n
tl~e an~ounts sched~~led above earn ifat tl~e tine afpay~~ent the Full principal an~a~int afthe Note
leas got bean disbursed; provided that if tl~e full principal a~x~a~~nt of this Note i never disbursed,
tl~e an~ount of the principal not disb~~rsed shall be applied to red~~ce each ~~npaid principal
llltall~~~ent ~n ~~~~ p~'apar~lan that s~.~Cl~ installn~ent bear's to fhe fatal of all ~~npaid principal
i~~stalin~ents ~i.e., tl~e re~~~aini~a~ principal pay~~ent ehed~~le shall be rea~~~artied #a provide
sin~ilar ly level annual ir~stalin~ent of fatal debt ser vice pay~nent~. interest a~~ this Nate inel~rdes
at~~a~~nts treated ~y the N~innesata F~.~blie Facilities A~~tharity service fees, Principal, interest
and any pren~lr~~n drre ~rnder this Nate will be paid an eael~ pay~~~ent date by wire p.yn~ent, ar by
el~ecl~ ar draft nailed eve business days prior to tl~e pa,ynent date to tl~e pe~•san its ~vl~ase nape
this Nate i r eistered} in any aain ar e~~rrency of the United tte of A~~~erica ~vhicl~ at tl~e tine
afpa~~ent i legal tender for pubic and private debtsF
eden~ tom. ~l~is Nate is sr~b~ect to red e~~~ption and pr'epan~ent in ~vl~ale or in part at
the option o l` tl~e pity o~ mandatorily as provided in the l~xa~ ect Loan ~ren~ent. ~~ reclen~ption
is i~~ part i~~staln~ents al`principal payable last ~rnder this Nate shall be prepaid first unless the
pity and tl~e halde~• afthis Dote agree to a diffe~'ent result,
~u~-poe; enera~ Dl~liat~a~~. phis Nate has beef is~~ed pursuant to and in f~~Il
confon~~ity with tl~e anstitution and laws of the state of it~~esata for' the purpose o`pravidir~~
~~~aney to f~r~at~ce tl~e ca~~struction of t~~e l rd Aven~~e rod ect in the pity, and is payable art ol`
tl~e l~I~F 1-Jebt service .cca~~nt o~`the ~ranspartat~a~~ Fend oftl~e qty, to ~vl~ich account have
bee~~ pledged frar~~ n~a~leys to be allotted to the ~~~ fran its account rn t~~e qty's tatew~,id
Street Fend. This Nate canstit~~tes a general obliatian of the pity, ar~d to provide n~oneys far
tl~e pron~pt and full pa~r~~ent of said principal instalin~ent and interest ~vl~en the sane beon~e
d~~e, tl~e fell ~itl~, credit and ta~:in powers of the pity Dave been and are l~e~'eby irr~c~acabl~r
pledged,
.nitration; transfer. 'his Nate shall be register ed in the nan~e of the payee o~~ the
boars of tl~e pity by presentir~~ this Nate for re~istratian to tl~e pity's Finance ~7ireetar, ~vho will
? l7~{9G~:1 ~
endarse ~~i ar ~~er na~~~~ end nape ~~~~ date of re~~ra~~ot~ appo~~e t~~e nan~~ of ~~~e pae ~n ~l~e
eer~i~ea~e afre~i~ra~~an a~~ae~led ~ere~o. ~~area~~e~• ~~~~ date n~a~ ~e ~ransfeed ~a a bang ode
p~~re~~aer and ~ delivery ~~~~~~ an a~~nn~en~ d~~~y e~ee~~~ed ~}~ ~~~e rai~erd a~~r~~er ar t~~e
rei~e~•ed a~~~aer's ~eaX repreen~a~i~e, and ~~~~ icy ~~~~ ~rea~ ~~~ reis~ere~ a~vner ~ ~~~~ parsan
exe~~~~vel en~~~~ed ~a exerei~ ail ~~~~ r~~i~t a~~d pavers of an a~v~7er unt~~ ~l~i~ N~~~ i pre~e~~~e~
~vi~i~ s~~a~~ assi~~~n~~nt fa~• re~is~r a~ia~ of ~ransfe~, acca~x~panied ~ ass~~ra~~e of ~~~e t~a~ure
provided y ia~~r ~~7a~ ~~~~ as~~nen~ ~ ~en~~ine a~~d e'fee~~~re, and ~~~~~~~ s~~e~~ ~r~n~`er is re~1~e~~d
an said baa~~ a~~d naffed ~~erean ~}~ tine ~i~y's ~`ina~~e ~rec~ar.
~~~ a~~ transfer ar bass. ~~e ~~na~~ee ~J~~•ee~ar n~a}~ ~~e~~~ir pa~nen~ of a sung
~~1f~len~ ~a aver all ~~~' a~' a~~~er ~a~~l~~n~en~a~ e~~ar~~ payable ~n ean~~~e~lan ~~I~~~ ~~~e transfer
of ~i~is ode a~~d any lea ar ~~n~~s~~al casks reard~n~ ~ra~~s~ers and a~ napes,
~ra.~~c~ oa~~ ~~~e~~.~en~, ire ~e~~~s a~~d ea~7di~ian a~~~~~ ~rajac~ Loin ,~~~a~~~~n~ ra
i~~co~ara~ed ~~erei~~ y reference and ~~~ade ~ p~~ ~~erea~: ~'~~~ ~ra~cc~ ~,aan ~~re~~~~~~~ nay be
at~ac~~d ~a ~~~is ~a~e, at~d i~~Ii be a~~~e~~~d ~a t~~i ale ~~ ~h~ haider of ~~~i ae is and person
a~l~er ~l~a~~ ~~.~ ~1~~~~a~a ~Ib~~~ ~aC~l~~~~ .~.~~~~1arl~~.
Tai-~cn~ ~ ~~i~a~ian. T~~e ~t~r in~e~~d ~~~a ~~~ in~eres~ an ~i~is ale ~v~il be e~c~~xd~d
ram brass inean~e far ~'nited ~a~es inco~r~e ~a p~~~~pases a~~d ~ran~ bo~~~ brass ~nca~e and.
~~~~ ~~~~ t~~ea~~~e far tae of ~i~~nesa~a ~neon~e ~a~ pr~rpasesF
ua~~ied Ta~.~~~en~ ~ ~b~i~a~ian, T~~is ale ~~as ~aeen desi~na~ed ~,~ ~~e iy as .
"c~~~a~i~ed ~a~~e~e~~~p~ abiitian'" ~'ar p~~rpases of cc~ia~~ ~5~b~{} of ~~~e federal ~n~erna~
~e~~c~~ue adc of ~ ~, ~ an~et~ded.
T ~ ~~~~~' ~~'~'~ .AND ~~IJD t~~at all ae~~ ea~adY~ia~~ ~~~ ~lzin~
re~~ircd by tl~e a~~s~~~~~ion and ~ a~f~%e ~~.~~ afi~u~ca~a o ~e da~]e, ~a l~appen and ~~ ~~
per.fan~~ed, pr eeede~~~ to ~~d ~~~ t~~e ~ssuana of ~l~rs a~e~ i~ave been lane, ~~ave ~~appe~~ed and
~~a~e been. perfa~-~~~ed, ~n rep«iar and d~~e ~`an~l, ~~n,~e anal ~~~a~er ~ re~~ired ~.~~; and ~~~at ~~~~~
l~'a~e, ~a~c~~~er ~~i~h aid a~l~er dcb of t~~e ~y au~standin~ a~~ tl~e dale ~~erea~`, being ~~~~ d~.~e of i
ac~t~al iss~~ance anal delivc~ya daes ;~a~ exceed any ca~~~i~~~~iana~ ar s#at~~ta~~ li~~~i~a~ian o
indeb~ednss,
? 1 ~~G9G~~ 1
~ ~~ ~~~, ~~~e ~y ~~` i~~ ~ve~, i~~rb~~r~ ~t~~~.~~, i~~~~ta, b~ ids
icy o~~~~ci~ ~~~ ~~~~d ~~~~ ode ~o be e~~~~d o r~ b~~a~f~y ~i~~ i~~~~~~~e ofi~~ ~a.y~r ~~d
its ~d~~~i~~~s~~ .far, ~~e ~o~~a~~~~ seal a~' ~~~ its i~a~~~~~ ~~e~~ i~n~~a~~~~~y ~~~~~~~ed a p~~ni~~e~
~ 1~~, alb a of ~d~ ~~ ~~~} , ?0~.
ado ~~c~t siatlL--_
..._
Mayo~~
~~ ~~ l ~t~
Adtr~~~~~~r~~ar
~`~~~ ~~•~n~`~~ a` o~v~~e~ hid ~~ ~~~~ ~r~~.e~pal a~~~~a~~~t ~~` ~~~~ atta~~~~d dote ~~~ ~~ ~~ade ~~~~~
ley the ~e~~te~•ed ~~v~~e~• or ~~~, ~~~ ~~ its ~ea~ ~e~~ee~t~~i~e ~t ~~a~ed e~e~~v.
. ate e e,~,~~.,
,. t~~~~~~~ .e~i~tere~ ~~v~~~~ ~,~ ',~~~ee i~ec~a~-
~__ ~~
_~ ~aat«~~e o ~'~~~,,,,,~~. ~~
~~~~,~Zeset ~~x~~ie a~~~i~ie
~~.~th~~~t}~
~. ~~t-~7 i~e~t~
'eder~~ ~~~le~e~ ~~~~t~~c~t~o~~
~, ~cc~~~o~~. lac ~~~ slaa~l lac c~:cc~~~ed ora belaalf of tl~~ i~ Icy lac ira~t~rr~s of
its Mayor arad ~dnai~ais~ra~or; ~~ac ~~ of lac icy Baas bcn in~c~a~io~aall~ oi~~l~~ed as perra~i~~c~ b~
Ia~~. bra ~Iac c~f~~~ ~~ ~isl~iii~y or resiaation or ~#~ar l~scrrcc of ~r~y s~~ch officer, ~Iae N~o~e ~.aa~r
I~~ ~~zaed ~ lac naa~aul si~raat«rc ~~`~la~~ ~~ccr ~lao ~aaay act ors I~claalf ofs~zc~a ~en~ or
isal~I~d off ~ccr. bra case any s~~cia ofl~rccr ~~~aoc siraa~t~rc laaa~ appear ova tae Node shall ccac fio
lac such off~rccz- bcfor•c ~~ac cli~rcry of lac ~~o~e, ucl~ si ~aa~urc saaall ~ac~cr tlaclcss be valid and
sr~f~ci~~a~ Igor aII ptrrposes, lac a~~c a if ~~,~cla ofccr la.ad rc~aaai~acd in office r~rat~l dcli~cr~y,
Icli~crv; . a Iica~inn of l~r•ocecd. Tlac ~~~ ~vlacn ~ prepared arad c~ccr~~cd
sl~all ~ dcli~tercd ~y ~Iac l~ iraa~ac r~ir•cc~or ~~ tlac purclaascr ~laer•eaf prior ~o disb~~rsc~aac~a~
pr~rsr~arat ~~ ~lae projcc~ l~oara ~rcera~en.~, a~ad lac p~arclaascr• la~.ll rao~ lie ol~Iicd ~~ ~~ to ~Iac
proper appl~c~iora ~lacrco~
l~ uzad~ grad Accor~ra~. here is laer ey creaked a sep~r~~e f~rrad o f ~lae pity
d~ei~~aa~ed~ tlae "~`r•a~aspor~a~ior~ ~'~rtadtr ~~lae "l~`r~~d"}. TI~c `uracl shall Inc r~aai~a~aitaed iia ~lae aara~aer
sl~ecificd laerei~a ~~~atil ~lae l~o~e a~~d ~n~eres~ flaereora laa~e been f~~lly paid. ~'Iaere shall be
~aaai~aai~acd in tlac 1~~~~ad, lac follo~~i~a acco~~~a~s~
~a} ~a "~~~', or~s~rr~c~iora ,~ccorr~a~", ~o ~~I~icla shall ~~ c~cdi~ed alI proceed
recei~Fed f~ro~a~ lac sale of~lac o~c. 'lac 'ale shall Iac lac o~aly a~a~-ce ~~raaoracy cre~li~ed
~~ ~~ac l~l~~ ons~rcion 1~cc~~rn~. ~~ ~ rcco~aized ~l~a~ ~lae sale proceeds of tlae ~~~~
are received i~a re~~aal~~rrsc~aaer~~ for costs e~pcr~rlcd on tlae ~'roc~ ~~• i~a d~r-cc~ pa~raaera~ ~~`
~~~~~ cos~sa grad ~Ia~~ accordi~aly ~l~c n~o~acys raeed rao~ ~~ placed in ~lae ~`,A.
oras~rr~cfiiora .cco~~t~~ ~rpora receipt b~ raay Inc appi~ed iraanacdia~cly ~o reiraab~rsc lac
so~rrce fror~a ~~~aicla ~lae eperadi~~~re ~~~ r~~~de. ~rla ~aao~ay ira ~Iae '~.~ ons~~.rc~iora
~ccoirn~ shall ~ ~~ed solely for ~~~~ pur~posc ofpa.y~ira~ for ~lae ~~~ of co~as~r•~xctir~~ lac
~roec~, i~~cludi~a alI cosh en~rraaera~ed ira liraneso~a ta~~r~cs, ec~io~a ~~,, prov~d~c~I
~laat r~cla ~aao~~ey Iaall oraly epcraded for costs a~ad e~pe~aes ~~laicla a~ ~ pc~~a~i~~ed
ura~ler ~lae ~'roj ec~ ~.oara ~l~e~aae~a~. ~'lae ~~~'. prolail~i~s ~lae ~~se of proceeds of ~lae ore
to rei~aal~r~rse cosh i~~i~ially paid fror~a proceeds of o~laer ol~Iiatio~as of ~lae icy ~~nless
o~Iaet•~~rie pecifrcally appro~e~l. pora coraapletiora of ~~ac ~r•o~ec~ a~ad lac payraaera~ ofxlae
costs ~Iaereof, a~ay s~~a•plus saali lie ~rarasfer~red ~~ ~lae N~~l~'~ ~~ cr~ice .~cco~rra~.
~Ia~ bra "~~. ~el~~ erv~cc cco~~ta~'fi, to ~vlaicla ~lacre Iaall e in•e~vocably
appropr ia~ed, plcded .rad crcdi~ed. ~ ~ ~ ~~por~ receipt fro~aa ~lae o~aalaaissioner of Fi~aance
of ~lae ~a~e of l~i~aneso~a, ~~ae a~a~atral an~o~xra~ of aoncy needed for paaae~a~ of principal
arad i~a~crc~ dire cacla year ~. lac ~o~e f~•o~aa ~a~oneys allo~~cd or ~o Ise allo~~ed a tlae ~i~~
frolaa ids acco~~~a~ rra ~lae l~r~arc~pal ~a~e~~.id ~rec~ l~"~~nd; ~?~ a~ay collec~io~as o.l~~aes
~~rlaicla raaay laercf`~er Inc levied for payn~en~ of tlae pr~racipal of and iz~eres~ on ~lae ~o~e;
~}all ira~es~~aae~a~ ear-~ngs ora raao~ac~s held. ~n lac 1~~~, Ieb~ Service ~cco~~~a~; ~~~ ~~y
araao~~ta~s trarasf'cr-rcd fr•or~~ lac llpl~"~, os~rrac~iora Acco~~ra~; arad ~~} a~ay o~lae~ nao~aeys
~vl~icla arc properly available grad arc appropriated Icy the icy o~r~ac~I ~o ~lae IAA eb~
Service ~cco~r~a~. `flac rraoracys ~r~ lac IV~PF ~cl~~ e~-vice Acco~~~a~ slaa~l be used o~aly to
pay or• prepay lac pri~acipal ofand in~ere~ ora ~Iae ~o~e and ~o pay ara~ rcba~e Luc ~~ ~lae
U~ai~ed Sfa~cs ~~ri~la respect to ~lae ~l~F, Bo~ads i~a co~araec~io~a ~vi~Ia the ode,
? 17~G~~(~~~ l
a pa~•t~a~~ of the praceed~ of tl~e ~~a~e ball be used direc~l~ ar ~~~dlr ec~ly ~o ac~~~~re
l~il~er y~eld~n ~~~ve~~n~ei~~ ar ~a replace f~~~~ds ~rl~lcl~ ~~ere ~~sed dlrec~ly ar Ind7ree~~y ~a ae~uire
~~.i~~~er y~e~di~~~ ~t~v~n~eu~s? eeep~ ~ ~ ~ far ~ reaa~~able ~e~nparary p~•iad ~i~~~ll suer proceed ara
needed far tie p~~rpa~e far u~~~~c~~ ~~~ ale ~~~ issued, aid ~2~ i~~ addl~lo~~ ~a ~l~e aba~a In an
an~aun~ ~~a~ reader ~~~ ~l~e Weser of fi~a ~ercer~~ of ~~~~ raceeds of ~l~e ae ar ~ ~a,a~0. Ta
this effect, any proceeds af~~~e ale a~~d at~y u~~~s fra~~~ ~i~~~e ~a ~~~~~~ held i~ ~l~e ~~'~
Cans~r~~a~ia~~ ~,cca~~~~~ ar ~~A. ~e~t e~~ice Accau~~t far any a~l~er City accau~~t ~~l~icl~ ~vill be
used ~a pay p~{i~~cipal ar in.ere~t to beca~~~e due an ~i~e I~a~e} ~~~ excess of a~~~a~~n~s ~v~icl~ under
~l~e federal arbi~rae re~t~la~~ans ~~~ay ~e invested ~~i~~~au~ regard ~a yield shall r~a~ be ~~~~es~ed a~ a
yield ~Il excess of ~~~ applicable y~e~d res~ric~iaus in~pased by said a~rb~~r~e reula~ians au such
inves~n~ents after ~a~ii~~ ~ri~a account any applicable "~ei~~pai•ary periods" ar i~~ii~ar pai~~iai~ made
avaz~abe i~~~der ~l~e federal aib~~ra~e re~~~ia~ians~ ai~ey in tl~e lurid l~iall i~a~ ~ ii~ves~ed ~~~
obli~a~ian ar depasi~ issued by, ua~•a~~~eed by ar xns~ired by ~l~e n~~ed tads ar ~~~y ~ency ar
~1~~~ ~~i~.~len~ai~y ~~er~a.f If aid ~a ~~~~ ex#en~ ~~~~ uCl~ I~1V~~~n~ent ~~a~~ld Caul ~~~~ Nape ~a ~~
~'federal~y ~tiar~.l~tecd~, ~~i~l~i~~ ~iae i~~eai~in of section ~~~} of ~l~e ~deral ~~~e~-~~al evei~~ie
Cade of ~ ~, as an~ended ~tl~e,Cade"},
Tl~e City shall abei-~e tl~e cave~.ants of ~aar~rapls , ~ ~ aid 1 S of ti~is iiesol~ition a~~d of
Article ~V of tl~e pray ect Loan ~~-een~e~~t ~vz~l~ r e~~•d to t~~e Fi..ii~d.
0. .eS~al'a~iai~ af~ane , ~ft~y i~~aneys aftl~ City atl~er ~~~~~ i~~aneys received
franc ~i~e City ate~~.id treed u~~d aye used far t~~e payi~~eiat of flee date, tl~e i~~aeys sa used
shall be resta~~ed to tine appropriate end fxai~ ~l~e i~~ai~eys ~~~~~ received by floe City franc tl~e
Cai~str~ictian ai• ai~~tei~nce ,ccaui~~ ~~~ tl~e Cit~r' Sate-1~id greet ~liild ~~l~icl~i ai'e i~at re~uii•ed
to be paid i~~to ~ debt se~•vice accau.i~t far a~~~er abli~a~iansF
~ ~~ ~~ ~fAll~t#~ ~ai~e~rs. There is hereby ii~i•evacab~y pledged aid apprapria~ed
e~
~a tl~e ~~, debt er~~iCe ~.cca~i~~t i~~ai7eys alla~ted ar to be alatted to tl~e City ~'~#a~~~ ~~ aeaau~~~
ilk ~~]~ Cl~yt~ ~t~~-~.Id ~I"~~ LII~. ~~1 ~l~ ~x~,a~l~~~ 5u~~1C~~~~~ ~a p~~ ~~7~ p~~~]C~p~ a~~x1~.1~1~~~'~ a~~
tl~e date as t~~ey respec~i~ely becaixie due.
1 ~. avera~~~T~t. ~t ~ hereby dete~~~~i~~ed and raa~~ably a~~ticipa~ed ~~~ floe
es~ii~~a~ed co~lec~ians of tl~e r~~aneys to be a~railable fro~~ ~l~e City's ta~e~A.id street fund aid to
be depaszted to tl~e ~~. Debt er~ice Account ~~ill produce a~ least ~~ve percent 1n excess of
tl~e ai~7aui~~ needed to i~~~et, ~~~~en die, tlxe principal of and interest a~~ tl~e date.
_ erieral bli,~at,y,
~ *~,Y..,,,~an. Pledge. T~~e frill faith, credit a~7d taii~~ pa~~er afti~e City
sl~al~ be, and are l~ereby~ irrevocably ~led~ed for tl~e prai~~pt ar~d fug pay~rie~~t of tl~e principal
a~~d interest a~~ tl~e dote as the sane respectively beca~~~e due. ~~'tl~e balance in tl~e ~~~~ Debt
Service Acca~int shall a~ a~~y tii~~e be insufficient ~o pay suc~~ principal a~~d ii~~erest ~~l~en due a~~
tl~e dote payable fi•ai ~l~e ~~' ~eb~ Service ~.cca~~i~t, tl~e City cavenai~ts .~ a~•ees ~a levy,
~vitbau~ lii~aitatiai~ as to rate ar an~ou~~t, a~~ ad valore~xi tai upai~ all taxable praper~y in the City
sufficie~~~ to pay s~icl~ principal and interest a tl~~y becon~e d~~e, ~` tl~e balance in tl~e ~PF~
Debt Sez-vice Acca~~i~t is ever insufficient to pay all principal a~~d interest tlxei~ due a~~ tl~e dote
and airy atl~er abliatiai~ payable tl~ereo~~~, tl~e deficiency shall be pron~ptly paid out of a~~y
atl~er funds of tl~e City ~vl~icl~ ire available 'or s~ich purpose, and such atl~er finds iay be
~~i~~~~~red~ ~i~~~ a~ ~~i~~~a~~~ ~ntara~~, ~an~ t~~ ~~'A ~]e~t aiaa .Ac~a~~n~ ~~r~~en ~~~`fcYen~
baanc~ is a~a~ab~ t~~~~~~n.
~ ~, z_ti~~ca~~ off` .ai~~a~~an, ~"~~~ ~`inanc~ ~iraata~ ~ ~~e~ ~~y dira~ed ~a ~ ~a ~
~~ied ~a~~ at~~is r~sa~~~t~an ~~i~~~ ~~~~ a~~n~y ,~~d~~or a~`l~ar~ a~n.t~,1V~~~~~a~a,
taat~~~ ~~~~~~ s~~c~~ at~~~~ ~~~o~~na~ian ~ ~~~e aun~}~ A~ud~~ar ~za~~ ~a~~~i~•~, and to a~~ain ~e
a~~n~~ A~~dita~-' ce~~i~aat~ ~l~a~ t~~e iota ~~~ been ~n~a~ad ~~~ ~~~~ au~~~ .~~~d~~a~•' a~~d
l~. a~~~t Lawn Aean~an~. T'~~e ~~aj~a~ Laan A~~~a~~nen~ i ~~e~ab~ a~p~a~ed ~~~
~~ta~~tia~~~ tl~a ~a~~~ ~ra~afa~a ~~~en~ad to ~l~e ~~~ a~,~n~i~, a~~d ~~~ ~~~a a~~~ ~~~c~~~ed b~ ~~~~
~~F,~ ~ ~~~~~a~y ~nca~a~ated y ~a~~r~~~ca ~~~~ ~~~ada ~ r~ a~ tl~i xa~al~~~ia~~, a~~ and ~~ a~
~~1 ~~aVlS~ai~ af~~~~ ~esal~~t~an ~e~at~n to ~~?,~ ~rot~ ai'~ ~nt~nd~d ~a ~~ Can~~en~ ~il~~~~ ~~~~
p~~avis~an a~ ~~~ ~ro~ ~a~ Laan ~~raa~~.~n.~, and ~a ~~~e a~t~n~ ~~~~~ any pra~r~~an in t~7a ~~a~e~
Laa~~ A.~~~~~~al~t a~a ~~~ aanf~~ct ~t~ ~~~~~ raa~~~t~an ~~ 1~ ~•~a~es to ~~~a ale, ~~~~~ ~raviion s~a~~
cant~al ~~d t~~.i rasal~~~ian ~~l b~ d~~n~~d accardin~~y n~odi~~d. Tea Saar and ~.dn~in~t~atar
a~~ ~~a~~~y aut~~a~i~~d end dit•~cd to a~aa~~ta ~~~~ ~ra~act Laan ~~~~~n~e~~t. ~~~e ~~ac~~~ian a~~~~
'pia ~~~ Laaz~ A~~r•~an~a~~~ ~ ~~~~ a~~~•apte a~~iaa~ l~a~I ~ can~~~iive e~ida~~ce of ~~~~ app~o~a
a~ t~~e 'ra~ac~ Laan ~~~ ean~en~ ~n acaa~dan~a i~~ ~~ ~e~~ns ~~a~aaf. "~~~ P~a~ ~~~ Laan
A~r~~~x~an~ n~a ~ at~aa~lad to ~~~e iota, and ~~~~~ ~ atta~~~d ~a t~~~ a~~ i~~~a ~~a~d~r af~~~a
data i ~~~~ p~ran at~~~~ t~~an t~~e ~'~..
oca~ds and a~~i~~cata~. ~~e a~`~ca~•s a~' ~~~a ~t~ are ~~o~a~y a~~t~a~~~d and
di~~ctad to p~~e~~i~ a~~d ~"u~n~~~ to ~~~~ ~~~'A, and to ~~~~ ~t~az-~~~y a~~ a~In~ ~l~a ~allt~ a~ ~~~
i~~~,~anc off' ~l~a date, ca~~t~~iad ~a~ia a~ a~~ ~~acaedin and ~ ~aa~d a~ ~~~ its r~at~n to ~~~~
date and to t~~e ~nnia ~and~~ian and a~~a~~ at~~e ity~ and ~~eZ~ at~e~ a~`~ida~i~, cer~i~ate~
and ~n~'a~~~atia~~ as az~e re~~ired to ~~a t~~e ~aat relating to ~~~e ~ea~it and n~a~~~~eta~~~~t~ a~ the
Nate ~~~ anae ap~ea~ any tl~e baal~ and reca~d ~~nder t~~e~r cu~ady and aan~~al o~ a
at~~a~~~ise ~~~a~n ~~ tl~en~, aid ~~ se~~ oe~~~d. co~ie, carti~ica~e and af~da~it, ~nel~~din and
~~ere~a~'are ~~~~~~il~ad, ~l~al~ be deen~ed ~~~~*~e~~~~ia~~ a't~~ i~ a to ~~~~ fa~~ ~+a~~d ~~~~~ai~~.
~ ~, Ne~ati~~ ave~~ant a ~a Use a~'raceed~ and ~ra~ect, Tie i~~ l~ere~~
car~enant~ nat to use t~~e ~raaa~d~ a~ ~~~~ ~a~~ o~ to Ito ~~~~ Pao j ~cf, az to cause a~ pe~.i~ ti~an.~ ~a
~ ~~sad, ar t~ enter i~~ta a~~y de~err~d ~ayn~ent a~an~n~ent~ far tl~e cast a~ ~~~~ ~~a~ ect, in u~l~ a
~~~a;~.r as to c~~e eit~~er Dft~~e ode to ~~ a'f7~`l~at~ aeti~t~r hand" ~~itl~~ t~~c n~a~in~ a`
otia~~s ~ 0 a~~d 1 ~ t~~ra~l~ ~ a a~' ~~~~ fade. Thy i~}~ rea~a~~aly e~pcct tl~a~ o actions ~~ill
~ ta~~n aver ~~~~ ~~~~~ a~' ~~~ arc that ~~a~~ld ~a~~se tl~ei~ to ~ pri~~atc aa~iv~t~r band, ~~~~ tl~e
a~erae te~~ a ~~~~ i~a~c i~ not saner tl~an rcasa~~a~ly neccsary faz t~~c a~c~~~~cntal p~~rpase
a~~l~e i~~uc. `lie pity ~~e~e~~ ca~enants nab to ~€s ~~~ ~raceed ~~~~~ Notc in sucl~ a n~an~~e ~
to ca~~e Elie Naha ~a ~~ a "~~ed~e ~and~f ~tl~~n ~~~~ n~ea~~~n~ of ectian I4~~~ a`tl~e ade~
~l~e qty ~aereb ca~ennts nod ~a use t~~e p~acecds a~ t~~e date o~• to i~e t~~e ~ra~ ect, ar to
cause ar ~e~~~it tl~cn~ to ~~ ~~~eda ar to enter i~~to and de~erxed a~~ent a~-ranc~~~ent ~'ar tl~e cash
a~t~~e ~~~a~ect, i~~ s~ic~~ a n~a~~ne~- as to c~~~s ~~~ ~'A ands to e tf~ri~rate act~~it~ ands~~
~~itl~in tl~e n~canin~ a~ ectiara~ a3 and ~ 4 ~ tl~ra~~l~ ~ ~ off` ~~~~ fade. Tl~e ~~ ~eaana~~~
cx~ects teat it ~~ri~I take na actions ave~~ t~~e t~ off` t~~e ~a~e ~~~at ~va~~ld cap€se tie ~'A hands
~~ ~e pr-~~a~~ a~tiv~t~ bons, and ~~~ a.~o~~ ~~~~~ o~'t~~ dote i~ not ion~~r ti~a~~ ~•aonbly
~~cesary for its ov~r•r~r~~or~tai p~r~os~.
~, ~a~~x~~~~pt Status ~~ ti~~ dote; ~bat~; ~~o~ons, T~~e ~~ ~~~~~~ con~~~}~ ~~it~~
,, ^_ _.,.., ~,_y,,,,~~
r•~q~r~r~n~on~~ r~eees~a~~r ~ndor ~l~e ads ~~ ~s~a~~isi~ and n1a~r~ta~n ~~~e ex~I~rs~on oftl~e ~nt~~~s~ on
t~~~ ~~~ ron~ doss ir~~or~ne ~rnde~ S~~t~~n X03 o~'t~~ dodo, in~~udin~ ~~~t~~o~~t ~~~ni~ion
r-e~r~~or~~ents ~a~i~~ to ~~r~~orar~ pods for ~n~~s~n~~nts, ~irn~~a~~o~~ an amounts ~n~e~od ~
}~io~d ~roate~ t~~an ~~~~ ~~eld on ~~ ~~, end ~~~e re~a~o o~ ices ~n~~tn~ent ea~nin~s to ~~~
'~r~~~~d States. ~~ an~r ~~ection ~ avaiia~~ no~~ o~ l~~~oaer ~~~~~~ rospoc~ ~~ ~rb~~~'a~ or ~ eb.to
natter ro~at~n~ ~~ ~~~ Vote, ~~~~ ~ao~, ~'~na~~ee ~Ji~ecto~, ~~ e~~~~e~ o t~~~n~, aye I~e~eb~
a~r~~~or-~~ed and d~r•eeted to r~~ae ~~.~~~ ~~eeion as t~o~ deem nees~a~ a~ro~~~ate or desi~ab~e
in eon~~~t~on ~~it~z t~~e ote~ and ~ sucl~ eieo~~or~ snail b~, end s~~ai~ be dee~ned and t~•eated ~,
elections oftl~o Cit~~
~ 9. ~a~~~e~~~ ~ Staters ~~ t~~e ~F fonds; Rebate. ~~~~ it ~~iti~ r•es~ect ~~ ~l~e
~~~ shall con~~l ~vi~~~ req~r~~en~en~s necessa~ ~rnder ~~~ ~~~ fio establi~~ ar~d ~~~aintin ~~~~
e~c~~~sion off' ~~~ interest on ~~~ N~PFA fonds f~•orn doss income ~rnde~ Section ~ ~~ a~ tlao bode,
incl~rdin~ ~~itl~o~rt ir~~i~ation ~a~ re~u~r•err~ents r~~tir~~ ~~ ~ornporar ~cr•iods or• invctn~et~ts, ~~}
ir~~itatior~s on an~a~rnt in~csted ~~ ~ }~icld ~.+~~te~ ~~~an ~~~~ y~~d ors ~i~ ~~. B~n~, end ~~~ ~~~~
zebate off' e~ccss invest~~~ent ea~~ir~~s ~~ tae united ~tcs. ~'~~ ~~~ co~cnar~ts and .+~~ ~~itl~
tl~e ~~.~ a~~d i~older~s ~` tl~e ~o~e ~~~~ t~~e ~nvestn~ents ~~` proceeds ~~` ~~~~ Dote, inc~~rdir~ tl~e
investment o~ and re~ren~~es ~led~ed tc ~~~~ dote ~~~~ic~~ are considered ~~ proceeds ~~ ~~~~
~~'A, ~or~ds under t~~e app~icab~e r~eula~ions, ar~d ~.ccur~n~r~ated sin~in ands, i` are, sl~a~~ be
Iin~itcd a ~~ an~o~r~~t and field irr such n~ar~.~er ~~~~ ~~~~ ~'~. or~ds ~~a~~ not ~ arbi~rac bonds
~vrtl~rn ~~~~ n~ear~rn~ off' Sectron I48 o~tl~o o~.e and any re~llatrons t~~ere~r~~dcr• ~n ~~~~ basis ~~'
~~~~ e~istin `acts, estir~~a~es and c~ro~~n~stance, incudir~ ~~~ ~oreoin~ .ndin~s end co~enar~ts,
tic ~~~ ~~~r+~~ ~~~ ~t~r~ ~~~a~ ~t ~s r~o~ ~~ct~d. ~1~~~ ~~~ ~roc~~~ ~' ~~~~ I~at~ ~~~~~ ~~ ~rs~ ~n ~~~~~
r~~a~~~or ~~ ~~ ca~~s~ ~~~~ ~". fonds ~o ~~ rbi~ra~e bonds ~rr~der Soc~or~ ~ ~S off' ~~ bode end
any re~rlatio~~s ~i~ere~.nder. '~~~ ~~~or and in~r~ce ~~~cc~o~• sl~al~ ~~r~~~s~~ certi~ca~e ~~ ~~~~
~~.F~ en~bracin~ or based ors tl~o ~`oreoir~~ cc~i~ication at the txn~e o~do~ivery a~ti~e odes ~~
tine ~~F~. ~'~~ proceeds ~~'~~~~ Note ~~~~~ ~il~e~~risc be ~rsed ire ~~ci~ n~ar~r~er that ~~~~ date is r~o~ a
private activity bond lender Section lo~~b~ o~'~i~e fade.
?~, l~esi~rnation o~ ~.ra~i~red Tai-~or~ ~ ~bli~~.~ion. ~~ order ~~ qualm` ~~~~ date ~
a'#qua~i~d tai exe~~~pt oblia~tion" ~~riti~in ~~~~ n~eanin~ o~`Section ?~S~b}~~~ o~t~~e bode, ~~»
icy ~~er•eby r~~a~~cs the oi~awir~ ~~ctual state~~~en~s and representations;
~a~ ~~~ Node is iss~red aver Au~rst 7, 8~;
fade;
~~ tine dote is not ,private acti~rity bond" as de~r~ed ~n Section ~ ~ ~ off` ~~~
~o} ~~~e pity hereby desi~ates tl~e dote as ~. t~q~ra~i~ed tai exerxrp~ obli~atiQ~~„
~or• p~~r~oses off` Section ?C~b)~~} o~thc bode;
~d~ t~~e reasonably anticipated n~o~rnt o~ta een~pt ob~~~ations ~o~~~er tha~~
p~i~rate activity bonds, trea~in qualified ~~~~~~~ bands a not being private activity
bands ~vl~iol~ will ~~ iss~~ed b~ the its ~~cl all entities treated as a~~e issuer ~vitl~ tie
pity, a~~d all st~bordinate e~atities ~~hose obliatio~~s are treated as issued ley tl~e ~lt~
duri~~~ tl~rs calendar dear ?SOS will n.at exceed ~ ~,~~~,~~D; and
fie} nat ~~~ore than 1 ~,OD~,O~~ ~~` oblia~io~s iss~~ed l~~ tl~e pity d.u~•i~~ this
calendar year ~~OS Dave bee~a desia~ed. ~'or p~~rpoe o~`ectinr~ ?5~~~~} af~l~e bode.
Tl~e ~~~ sl~a~l ~zse ids best eF~'ar~s to co~r~ply v~itl~ any Federal praced~~ral req~~iz+e~~~er~ts
~~rl~icl~ ~~~a~ apply in order to eF~'ec~~ate ~l~e designation ~r~ade by this para'apl~..
~ 1. otxe~~~, to, ep~:~scnt~io~.. Tl~e pity laerel~y canse~~~s to tl~ representation by
l~*i a~~d N~~~~~a~~, ~'r~~'e~ia~~al A~s~ociat~~~, ~~l~icl~ i eti~~ a tl~ qty' bard. ee~~~~sel ~~itl~
respect to tl~e date, oFtl~e ~'~ ~vitl~ respect to ~l~c l~l~~ l~o~~d a~~d tl~e dote tl~e 1~~~.~~s
bond co~~~~sel p~~rs~~a~~t to a special a~ta~~~ey appai~~t~~~en~t y tl~e tto~~ey e~~eral of tl~e Mate of
lin~~esata.
~~ ~ ~~~'abiiit~. ~F a~~~ sectia~~, para~rapl~ or praviio~~ of this resol~~tia~~ shall lie held
to be i~~~alid o~i ~~~~e~~Forccal~le ~`or a~~~ reasa~~, tl~e i~~vlidit~r ar ~~ne~~Forceal~ility afs~~cl sectia~~,
paragrap~ or pravisia~~ shall ~~at a~'Fect a~~y oFtl~e re~~~ai~ing pravisians a~`tl~is realutio~~.
?. l~eadin~s. eadin~s i~~ this reso~~~tiou. are included for canve~~ience afreferc~~ce
o~~ly a~~d arc ~~ot a part hereof, a~~d shall nat li~r~it a~• de~.e tl~e ~~~eani~~ aF a~~y pravisia~~ l~ereo~:
lie ~~~atia~~ fc~~' tl~e ad~pt~a~~ of tl~e Fareo~n resolut~a~~ ~~as d~~ly eco~~ded by ~~~elber
~z~~~pl~r e and, afte~• f~~ll disc~~ssio~~ ~l~ereof a~~d ~~po~ a vote beir~ tal~e~~ ~l~ereo~~, ~l~e FallQ~vin
voted i~~ Favar tl~ereoF:
~~rr~?~~' ~~~rrr,~~rr~, ~orr~r~i~~rr~r~rf~~•s ~crt~er•, r~rrrp~~r•e~~r ~~~~r'rr, c~~~rc~ e~~~~~~crs
a~~d tl~e fallo~vin~ voted agai~.st tl~e same. Notre
l~ere~~po~~ floe resal~~tion ~~as declared dull passed a~~d adapted this 1 t~~ day al` J~~ne
? ~~,
.~ ~~ ~ ~ .
~~~~~ ~ ~ ~
;,.
tepl ~~ e ~~.lz~~' a~yar
A~'1J~':
~,
,, ~
~'ina ~lla~'d, pity clerk
? 17{3G9~iv 1 ~ 7