HomeMy WebLinkAbout2019-24CITY OF COLUMBIA HEIGHTS, MINNESOTA
RESOLUTION NO. 2019-24
RESOLUTION PROVIDING FOR THE PREPAYMENT AND
REDEMPTION OF THE CITY'S OUTSTANDING TAXABLE
GENERAL OBLIGATION TAX INCREMENT BONDS,
SERIES 2009B
BE IT RESOLVED By the City Council of the City of Columbia Heights, Anoka County, Minnesota
(the "City "), as follows:
1. The City previously sold and issued its Taxable General Obligation Tax Increment
Bonds, Series 2009B (the "Bonds "), dated July 1, 2009, in the original aggregate principal amount of
$580,000, of which $150,000 in principal amount is currently outstanding. Bonds maturing on or after
February 1, 2020 are subject to call for prior redemption on February 1, 2019, or on any date thereafter at
a price of par plus accrued interest. Redemption may be in whole or in part, and if in part, at the option of
the City and in such order as the City will determine and within a maturity selected by U.S. Bank
National Association, Saint Paul, Minnesota, acting as the registrar for the Bonds (the "Registrar ").
Prepayments will be 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 after February 1, 2019 be prepaid and redeemed on April 1, 2019 (or on the first
date thereafter for which the Registrar can provide proper notice to the holders of the Bonds), and those
Bonds are hereby called for redemption on that date in the aggregate principal amount of $150,000.
3. The Registrar is authorized and directed to mail notice of call for redemption of the
Bonds in the form attached hereto as EXHIBIT A to the registered owners of each Bond to be redeemed
at the address shown on the registration books kept by the Registrar.
4. The Finance Director of the City is authorized and directed to cause the notice of
redemption to be disclosed pursuant to the Continuing Disclosure Certificate, dated July 1, 2009, related
to the Bonds.
Adopted: February 25, 2019
Offered by: Murzyn, Jr.
Seconded by: Novitsky
Roll Call: All Ayes
ATTEST:
XA //
City Clerk
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Mayor
NOTICE OF CALL FOR REDEMPTION
$580,000
CITY OF COLUMBIA HEIGHTS, MINNESOTA
TAXABLE GENERAL OBLIGATION TAX INCREMENT BONDS
SERIES 2009B
NOTICE IS HEREBY GIVEN that, by order of the City Council of the City of Columbia
Heights; Anoka County, Minnesota (the "City "), there have been called for redemption and prepayment
on
April 1, 2019
certain outstanding bonds of the City designated as Taxable General Obligation Tax Increment Bonds,
Series 2009B, dated July 1, 2009, having a stated maturity date of February 1, 2021, totaling $150,000 in
principal amount, and with the following CUSIP number:
Year of Maturity
Amount CUSIP
2021 $150,000 197684 QT3
The bonds are being called at a price of par plus accrued interest to April 1, 2019, 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 Saint Paul, Minnesota, on or before April 1, 2019.
U.S. Bank National Association
Corporate Trust Services
111 Fillmore Avenue East
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: , 2019.
BY ORDER OF THE CITY COUNCIL OF THE CITY
OF COLUMBIA HEIGHTS, MINNESOTA
By /s/ Kelli J. Bourgeois
City Manager
City of Columbia Heights, Minnesota
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