HomeMy WebLinkAboutResolution No. 2011-124 Extract of Minutes of Meeting of the
City Council of the City of Columbia Heights,
Anoka County, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the Council of the City of
Columbia Heights, Minnesota, was duly held in the City Hall in the City of Columbia Heights, on
Monday, October 24, 2011, commencing at 7:00 P.M.
The following members were present: Mayor Peterson, Council member Nawrocki, Council
member Diehm, Council member Schmitt.
and the following were absent: Council member Williams
* ** * ** * **
Member Diehm introduced the following written resolution and moved its adoption, the
reading of which was dispensed with by unanimous consent:
RESOLUTION NO. 2011-124
RESOLUTION PROVIDING FOR THE PREPAYMENT AND
REDEMPTION OF CERTAIN OUTSTANDING
GENERAL OBLIGATION BONDS OF THE CITY
BE IT RESOLVED By the City Council of the City of Columbia Heights, Anoka County,
Minnesota, as follows:
1. The City has issued and sold its General Obligation Improvement and Sewer and
Water Revenue Bonds, Series 2003A, dated June 1, 2003 (the "Bonds ") in the total principal
amount of $2,600,000. Bonds maturing on or after February 1, 2010, are subject to redemption and
prepayment on February 1, 2011 and on any date thereafter at a price of par plus accrued interest.
2. It is determined that it is in the best interests of the sound financial management of
the City that Bonds maturing on February 1 in the years 2012 to and including 2018, comprising all
of the Bonds subject to redemption, be prepaid and redeemed on December 1, 2011 and those
Bonds are hereby called for redemption on that date.
3. The Registrar is authorized and directed to publish, in accordance with law, a notice
of call for redemption of the Bonds in the form attached hereto as EXHIBIT A to the registered
owner of each Bond to be redeemed at the address shown on the registration books kept by the
Registrar, and to mail a copy of the notice to the original purchaser of the Bonds.
(The remainder of this page is intentionally left blank.)
The motion for the adoption of the foregoing resolution was duly seconded by Member
Schmitt, and upon vote being taken thereon, the following voted in favor thereof: Mayor Peterson,
Council member Nawrocki, Council member Diehm, Council member Schmitt.
and the following voted against: - none
whereupon said resolution was declared duly passed and adopted.
_ ayor Gary L. ` eterson
I / Patricia Muscovit CMC CityjClerk
EXHIBIT A
NOTICE OF CALL FOR REDEMPTION
$2,600,000
GENERAL OBLIGATION IMPROVEMENT AND SEWER AND
WATER REVENUE BONDS, SERIES 2003A
CITY OF COLUMBIA HEIGHTS
ANOKA COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that, by order of the City Council of the City of Columbia
Heights, Anoka County, Minnesota, there have been called for redemption and prepayment on
DECEMBER 1, 2011
all outstanding bonds of the City designated as General Obligation Improvement and Sewer and
Water Revenue Bonds, Series 2003A, dated June 1, 2003, having stated maturity dates of
February 1 in the years 2012 through 2018, both inclusive, totaling $1,220,000 in principal
amount, and with the following CUSIP numbers:
Year of Maturity Amount CUSIP
2012 $190,000 197684 KZ5
2013 190,000 197684 LA9
2014 165,000 197684 LB7
2015 165,000 197684 LC5
2016 165,000 197684 LD3
2017 170,000 197684 LE1
2018 175,000 197684 LF8
The bonds are being called at a price of par plus accrued interest to December 1, 2011,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 the City of St. Paul, Minnesota, on or before December 1, 2011.
Ifbymail: Ifbyhand:
U.S. Bank National Association U.S. Bank National Association
Corporate Trust Operations 60 Livingston Avenue
60 Livingston Avenue 3 Floor — Bond Drop Window
EP- MN -WS3C St. Paul, MN 55107
St. Paul, MN 55107
393370v1 SJB CL162 -46
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.
The Registrar will not be responsible for the selection or use of the CUSIP number, nor is
any representation made as to the correctness indicated in the Redemption Notice or on any
Bond. It is included solely for convenience of the Holders.
Additional infonuation may be obtained from:
U.S. Bank National Association
Corporate Trust Division
Bondholder Relations (800) 934 -6802
Dated: October 24, 2011.
BY ORDER OF THE CITY COUNCIL
By /s/ Patty Muscovitz
City Clerk
City of Columbia Heights, Minnesota
39337th 1 SJB CL162 -46