HomeMy WebLinkAbout6649 (Res.)69,
•
RESOLUTION NO. 6649
A RESOLUTION AMENDING RESOLUTION NO. 6644, A RESOLUTION RELATING TO A $100,000
DISEASED TREE CONTROL GENERAL OBLIGATION BOND: AUTHORIZING THE ISSUANCE
THEREOF PURSUANT TO MINNESOTA STATUTES, CHAPTER 18.023, SUBD. 7, MINNESOTA
STATUTES, SECTION 429.091, AND MINNESOTA STATURES 475.60, SUBD. 2.
BE IT RESOLVED, by the City Council of the City of Stillwater, Washington
County, Minnesota, as follows:
Section 4. The Bond: Form and Authorized Amount, is amended to read
as follows:
"Section 4. The Bond: Form and Authorized Amount. The Bond shall
be issued in a form satisfactory to the City Attorney with such appropriate
variations, omissions and insertions as are permitted or required by this
resolution and a total principal amount of $100,000, with interest on the
unpaid principal amount at the rate of 5.35, per annum. The Bond shall be
payable in the installments as follows:
A. On February 1, 1980, an interest payment of $3,269.44 shall
be due.
B. On August 1, 1980, an interest payment of $2,675.00 shall be
due.
C. On February 1, 1981, an interest payment of $2,675.00 shall be
due together with a principal payment of $25,000.00.
D. On August 1, 1981, an interest payment of $2,006.25 shall be
due.
E. On February 1, 1982, an interest payment of $2,006.25 shall be
due together with a principal payment of $25,000.00.
F. On August 1, 1982, an interest payment of $1,337.50 shall be
due.
G. On February 1, 1983, an interest payment of $1,337.50 shall be
due together with a principal payment of $25,000.00.
H. On August 1, 1983, an interest payment of $668.75 shall be due.
I. On February 1, 1984, an interest payment of $668.75 shall be
due together with a final principal payment of $25,000.00.
All interest on the Bond shall be computed on the basis of the actual number
of days elapsed on the assumption that each month contains 30 days, and each
year 360 days.
In all other ways, Resolution No. 6644 shall remain in full force and
effect.
Adopted by the Council this 12th day of June, 1979.
Published: June 21, 1979
Attest: .X�
�J Cit Clerk
Mayor
a
•
•
•