2019-003 Ratifying the Call for the Prepayment and Redemption of the City's Taxable General Obligation Housing Improvement Refunding Bonds, Series 2009B CITY OF HOPKINS,MINNESOTA
RESOLUTION NO.2019-003
RESOLUTION RATIFYING THE CALL FOR THE PREPAYMENT
AND REDEMPTION OF THE CITY'S TAXABLE GENERAL
OBLIGATION HOUSING IMPROVEMENT REFUNDING BONDS,
SERIES 2009B
BE IT RESOLVED By the City Council of the City of Hopkins, Minnesota (the "City"), as
follows:
1. The City has previously issued and sold its Taxable General Obligation Housing
Improvement Refunding Bonds, Series 2009B (the"Bonds"), dated December 15, 2009, in the original
aggregate principal amount of $2,865,000, of which $890,000 in principal amount is currently
outstanding. The Bonds maturing on and after February 1, 2019 are subject to redemption on or after
February 1, 2018 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 Bond Trust Services Corporation, Roseville, 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 on February 1, 2020 and thereafter, comprising all of the Bonds subject to
redemption, be prepaid and redeemed on February 1, 2019 (or on the first date thereafter for which the
Registrar of the Bonds 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$890,000.
3. On December 30, 2018, the Registrar mailed notice of call for redemption of the Bonds
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. The actions of the Registrar in calling the
Bonds for redemption are hereby ratified.
Adopted by the City Council of the City of Hopkins,Minnesota this 21 day of January,2019.
Molly Cdmmings,Maygr
ATTEST:
Dk"AIA
Amy Domeier,City Clerk