City Council Resolution 2010-45CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2010-45
PROVIDING FOR THE PREPAYMENT AND
REDEMPTION OF CERTAIN OUTSTANDING
GENERAL OBLIGATION BONDS OF THE CITY,
G.O. TAXABLE TAX INCREMENT BONDS, SERIES 2004A
BE IT RESOLVED by the City Council of the City of Monticello, Wright County,
Minnesota, as follows:
1. The City has issued and sold its Taxable General Obligation Tax Increment Bonds,
Series 2004A, dated June 30, 2004 (the "Bonds") in the total principal amount of $945,000. Bonds
maturing on or after February 1, 2011, are subject to redemption and prepayment on August 1, 2010
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 2011 to and including 2013, comprising all
of the Bonds subject to redemption, be prepaid and redeemed on August 1, 2010 and those Bonds
are hereby called for redemption on that date.
3. The Registrar is authorized and directed to mail 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 by publishing
the notice if required by law.
ADOPTED BY the City Council of the City of Monticello this 28th day of June, 2010.
CITY OF MONTICELLO
rez ZZ, I �/Y
Clint Herbst, Mayor
ATTEST
JONVill, City Administrator
370553v1 SJB MN190-137
Extract of Minutes of Meeting of the
City Council of the City of Monticello,
Wright County, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the Council of the City of
Monticello, Minnesota, was duly held in the City Hall in the City of Monticello, on Monday,
June 28, 2010, commencing at 7:00 P.M.
The following members were present: Mayor Herbst, Councilmember Posusta,
Councilmember Wojchouski, Councilmember Stumpf, Councilmember Perrault.
and the following were absent: None
The adoption of the foregoing resolution was approved with the consent agenda; said motion made
by Member Glen Posusta, duly seconded by Member Susie Wojchouski, and upon vote being taken
thereon, the following voted in favor thereof. Mayor Herbst, Councilmember Posusta,
Councilmember Wojchouski, Councilmember Stumpf, Councilmember Perrault.
and the following voted against: None
whereupon said resolution was declared duly passed and adopted.
370553v1 SJB MN190-137 2
STATE OF MINNESOTA )
COUNTY OF WRIGHT ) SS.
CITY OF MONTICELLO )
I, the undersigned, being the duly qualified and acting Administrator of the City of
Monticello, Minnesota, do hereby certify that I have carefully compared the attached and foregoing
extract of minutes of a regular meeting of the City Council held on June 28, 2010, with the original
thereof on file in my office and the same is a full, true and complete transcript therefrom insofar as
the same relates to the prepayment and redemption of $945,000 Taxable General Obligation Tax
Increment Bonds, Series 2004A, of the City.
WITNESS my hand as City Administrator and the corporate seal of the City this 28th day of
June, 2010.
inistrator
Monticello, Minnesota
(SEAL)
370553v1 SJB MN190-137
EXHIBIT A
NOTICE OF CALL FOR REDEMPTION
$945,000
TAXABLE GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 2004A
CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that, by order of the City Council of the City of
Monticello, Wright County, Minnesota, there have been called for redemption and prepayment
on
AUGUST 1, 2010
all outstanding bonds of the City designated as Taxable General Obligation Tax Increment
Bonds, Series 2004A, dated June 30, 2004, having stated maturity dates of February 1 in the
years 2011 through 2013, both inclusive, totaling $360,000 in principal amount, and with the
following CUSIP numbers:
Year of Maturity Amount
* Term Bonds
CUSIP
2011 $11500 614468 YA8
2013* 24500 614468 YC4
The bonds are being called at a price of par plus accrued interest to August 1, 2010, 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 office of Bond Trust Services
Corporation, Roseville, Minnesota, on or before August 1, 2010.
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.
Dated: June 28, 2010.
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