04-63EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE
CITY OF OTSEGO, MINNESOTA
Held: October 11, 2004
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of
Otsego, Wright County, Minnesota, was duly called to order on the October 11, 2004, at6_30 o'clock
P.M.
The following members were present:
Mayor Larry Fourneir,, Councilmenberso Vern Heidner, Virginia 17endel, Jerry Struthers
and Dan Sc'narber
and the following members were absent:
lione
Member Struthers introduced the following resolution and moved its adoption:
2004-63
RESOLUTION CALLING FOR THE REDEMPTION OF
THE OUTSTANDING
GENERAL OBLIGATION SEWER AND WATER REVENUE BONDS OF 1999, SERIES A
WHEREAS:
A. The City Council of the City of Otsego, Minnesota issued $2,595,000 General Obligation
Sewer and Water Revenue Bonds of 1999, Series A, dated July 1, 1999; and
B. All of said bonds maturing on December 1, 2006 through 2020, inclusive and thereafter, are
subject to redemption, in whole or in part, and prepayment at the option of the City on December 1,
2004, and on any date thereafter at 100% plus accrued interest, all as provided in the resolution of the
City authorizing the issuance of said bonds; and
C. The City deems it desirable and in the best interest of the City to call $2,595,000 of the
outstanding bonds maturing in the years 2006 through 2020, inclusive, for redemption on December 1,
2004, in accordance with said resolution authorizing the issuance of said bonds, and
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of
Otsego, Minnesota as follows:
1. $2,595,000 of the General Obligation Sewer and Water Revenue Bonds of 1999, Series A,
dated July 1, 1999, of the City of Otsego, Minnesota, maturing in the years 2006 to 2020, inclusive, shall
be redeemed and prepaid on December 1, 2004, at 100% of their principal amount plus accrued interest
for each such bond called.
2. The City Clerk is hereby authorized and directed to give mailed notice of call to the bank
where said bonds are payable and said bank shall provide such notice to the holders of the bonds as may
be required by law. Said notice shall be in substantially the following form:
Otsego 99A
NOTICE OF CALL FOR REDEMPTION
GENERAL OBLIGATION SEWER & WATER REVENUE BONDS OF 1999, SERIES A
DATED: July 1, 1999
CITY OF OTSEGO, MINNESOTA
NOTICE IS HEREBY GIVEN that by order of the City Council of the City of Otsego, Minnesota, there
have been called for redemption and prepayment on
DECEMBER 1, 2004
those outstanding bonds of the City designated as General Obligation Sewer and Water Revenue Bonds
of 1999, Series A, dated July 1, 1999, having the stated maturity dates of February 1, 2006 through 2020,
inclusive, totaling $2,595,000 in principal amount. The bonds are being called for redemption at a price
of 100% of their principal amount plus accrued interest to December 1, 2004, 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 to U S Bank Corporate Trust Services, 60 Livingston Avenue, 3`a floor
EP-MN-WS3C, St. Paul, Mn 55107, on or before December 1, 2004.
Dated: October 11, 2004
BY ORDER OF THE CITY COUNCIL
/s/ Judy Hudson
City Clerk
Important Notice: In compliance with the Economic Growth and Tax Relief reconciliation Act of 2001,
federal backup withholding tax will be withheld at the applicable backup withholding rate in effect at the
time of 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.
Additional Information may be obtained from:
NORTHLAND SECURITIES, INC.
45 South 7"' Street, Suite 2500
Minneapolis, Minnesota 55402
Attn: Lori A. Giampaolo
Public Finance Department
Phone: 612-851-5902 or 800-851-2920
Otsego 99A
3. The City Clerk is hereby authorized and directed to deposit with the bank where said bonds
are payable prior to said call date sufficient funds to pay all principal and interest due on the bonds as of
the call date.
The motion for the adoption of the foregoing resolution was duly seconded by council member
Heidner and upon a vote taken thereon, the following voted in favor thereof:
Mayor Fournier; Councilmembersa Heidner, Wendel, Struthers and Scharber
and the following voted against the same:
None
Whereupon said resolution was declared duly passed and adopted.
Otsego 99A
STATE OF MINNESOTA
COUNTY OF WRIGHT
CITY OF OTSEGO
I, the undersigned, being the duly qualified and acting City Clerk of the City of Otsego, Wright
County, Minnesota, DO HEREBY CERTIFY, that I have carefully compared the preceding extract of
minutes of a meeting of the City Council of said City held on the date therein indicated with the original
minutes thereof on file in my office and that the same is a full, true and correct transcript thereof insofar
as said minutes relate to the topic described in the title of the resolution set forth in the extract.
WITNESS my hand officially and the official seal of the City on October 11, 2004.
Otsego 99A
ty Clerk
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