City Council Resolution 2021-80CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2021-80
RESOLUTION PROVIDING FOR THE PREPAYMENT AND REDEMPTION OF A
PORTION OF THE CITY'S GENERAL OBLIGATION BONDS, SERIES 2014A
BE IT RESOLVED By the City Council of the City of Monticello, Minnesota (the "City"), as follows:
1. The City previously issued its General Obligation Bonds, Series 2014A (the "Bonds"), dated
as of December 18, 2014, in the original aggregate principal amount of $6,595,000. The Bonds are
currently outstanding in the principal amount of $4,540,000 and are subject to call for prior redemption
on December 15, 2021 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 the 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 a portion of the Bonds maturing December 15, 2022 through December 15, 2030 (the
"Redeemed Portion") be prepaid and redeemed on December 15, 2021, or the first date for which the
Registrar of the Bonds can provide proper notice to the holders of the Bonds, and the Redeemed Portion
is hereby called for redemption in the aggregate principal amount of $3,925,000.
3. The Registrar is authorized and directed to mail notice of call for redemption of the
Redeemed Portion in the form attached hereto as EXHIBIT A to the registered owners of the Bonds to be
redeemed at the address shown on the registration books kept by the Registrar.
Adopted by the City Council of the City of Monticello, Minnesota this 11th day of October, 2021.
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ayor
ATTEST:
MAV, Su4rah'-,
i Clerk
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EXHIBIT A
NOTICE OF CALL FOR PARTIAL REDEMPTION
$6,595,000
CITY OF MONTICELLO, MINNESOTA
GENERAL OBLIGATION BONDS
SERIES 2014A
NOTICE IS HEREBY GIVEN that, by order of the City Council of the City of Monticello, Minnesota
(the "City"), there have been called for redemption and prepayment on
December 15, 2021
a portion of the bonds (the "Redeemed Portion") of the City designated as General Obligation Bonds,
Series 2014A, dated as of December 18, 2014, having stated maturity dates of December 15 in the years
2022 through 2030, both inclusive, totaling $3,925,000 in principal amount, and with the following CUSIP
numbers:
Year of Maturity Amount CUSIP
2022
$385,000
614468
G42
2023
395,000
614468
G59
2024
405,000
614468
G67
2025
420,000
614468
G75
2026
435,000
614468
G83
2027
445,000
614468
G91
2028
465,000
614468
H25
2029
480,000
614468
H33
2030
495,000
614468
H41
The Redeemed Portion is being called at a price of par plus accrued interest to December 15, 2021, on
which date all interest on said Redeemed Portion will cease to accrue. Redemption shall be within a
maturity chosen by random selection by U.S. Bank National Association, as paying agent and registrar. The
Holders of the bonds hereby called for partial redemption are requested to present their bond for payment
at the main office of U.S. Bank National Association, in the City of Saint Paul, Minnesota, on or before
December 15, 2021.
U.S. Bank National Association
Corporate Trust Services
111 Fillmore Avenue East
St. Paul, MN 55107
Important Notice: In compliance with the Economic Growth and Tax Relief Reconciliation Act of
2009, the paying agent is required to withhold a specified percentage of the principal amount of the
redemption price payable to the holder of any bonds subject to redemption and prepayment on the
redemption date, unless the paying agent is provided with the Social Security Number or Federal Employer
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Identification Number of the holder, properly certified. Submission of a fully executed Request for
Taxpayer Identification Number and Certification, Form W-9 (Rev. December 2011), will satisfy the
requirements of this paragraph.
Dated: l `� , 2021.
BY ORDER OF THE CITY COUNCIL OF THE CITY OF
MONTICELLO, MINNESOTA
By /s/ Rachel Leonard
City Administrator
City of Monticello, Minnesota
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