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RESOLUTION <br />RESOLUTION AUT#O <br />AWARDING SALE, PRESCRIBI14G <br />PROVIDING FORI TI <br />GENERAL OBLIGATION TAX INC <br />BE IT RESOLVED by the Ci <br />"Issuer"), as follows: <br />Section 1. Authorization and <br />1.01. Authorization. This Counc <br />the best interests of the Issuer to issue and sell <br />Series 2002 in the principal amount of up to $1 <br />Statutes, Section 469.178, to reimburse the costs <br />respect to hazardous substances and pollutants) or <br />Issuer or the Housing and Redevelopment Au <br />connection with the redevelopment project be. <br />Grandview Area Redevelopment Plan of the HR <br />issued to finance such costs. <br />1.02. Sale. The Bonds will be <br />time to time from surplus funds on hand it <br />Increment Financing District of the HRA (th <br />purposes of the Fund prior to the maturity of t� <br />an asset of the Fund. <br />Section 2. <br />2002-62 <br />City of Wing <br />SING ISSUANCE, <br />:E FORM AND DETAILS AND <br />PAYMENT OF <br />;MENT BONDS, SERIES 2002 <br />of the City of Edina, Minnesota (the <br />hereby determines that it is necessary and in <br />s General Obligation Tax Increment Bonds, <br />)0,000 (the "Bonds") pursuant to Minnesota <br />certain removal and remediation actions with <br />rntaminants or petroleum releases paid by the <br />:)rity of Edina, Minnesota (the "HRA") in <br />undertaken by the HRA pursuant to the <br />and to refund outstanding bonds of the City <br />lased by the HRA from advances made from <br />project fund for the 50th and France Tax <br />id") which are not presently needed for the <br />ids. After issuance the Bonds will be held as <br />idn; Execution and Deli <br />2.01. Issuance of Bonds. All act <br />the Constitution and laws of the State of Minne <br />performed precedent to and in the valid issuance <br />having happened and having been performed, <br />establish the form and terms of the Bonds, to pr <br />forthwith. <br />2.02. Maturity Date; Interest R, <br />shall be originally dated as of the date of origin, <br />$5,000 each, or any integral multiple thereof, 01 <br />2012, and shall bear interest from date of issue <br />annual rate of 3.00% on the amounts from time t, <br />issuable only in fully registered form and only to <br />, conditions and things which are required by <br />ota to be done, to exist, to happen and to be <br />:)f the Bonds having been done, now existing, <br />t is now necessary for the City Council to <br />wide security therefor and to issue the Bonds <br />e; Denominations and Payment. The Bonds <br />issue thereof, shall be in the denomination of <br />single maturities, shall mature on February 1, <br />mtil paid or duly called for redemption at the <br />time advanced thereunder, The Bonds shall be <br />he HRA. The Bonds may not be transferred by <br />City Hall 1 (952) 927-8861 <br />4801 WEST 50TH STREET FAX (952) 826-0390 <br />EDINA, MINNESOTA 55424-1394 TDD (952) 826-0379 <br />