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HomeMy WebLinkAboutHRA Res 2012-001 Redemption Bonds For Series 2009A CERTIFICATION OF MINUTES RELATING TO REDEMPTION OF OUTSTANDING BONDS Issuer: Edina Housing and Redevelopment Authority Governing Body: Board of Commissioners Kind, date,time and place of meeting: A regular meeting held on January 3, 2012, at 7:00 o'clock p.m., at the City Hall, Edina, Minnesota. Commissioners present: Bennett, Brindle, Sprague, Swenson, and Hovland Commissioners absent: none Documents Attached: Minutes of said meeting (pages): HRA RESOLUTION NO.2012-1 RESOLUTION AUTHORIZING THE REDEMPTION OF CERTAIN MATURITIES OF THE PUBLIC PROJECT REVENUE BONDS SERIES 2009A(CITY OF EDINA ANNUAL APPROPRIATION LEASE OBLIGATIONS) I,the undersigned,being the duly qualified and acting recording officer of the public corporation issuing the bonds referred to in the title of this certificate, certify that the documents attached hereto, as described above,have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said bonds; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above,pursuant to call and notice of such meeting given as required by law. WITNESS my hand officially as such recording officer this 3rd day of January, 2012. (SEAL) Secretary HRA RESOLUTION NO.2012-1 RESOLUTION AUTHORIZING THE REDEMPTION OF CERTAIN MATURITIES OF THE PUBLIC PROJECT REVENUE BONDS, SERIES 2009A(CITY OF EDINA ANNUAL APPROPRIATION LEASE OBLIGATIONS) BE IT RESOLVED by the Board of Commissioners of the Edina Housing and Redevelopment Authority(the"Authority"),as follows: Section 1. The Authority has issued its$2,595,000 General Public Project Revenue Bonds, Series 2009A(City of Edina Annual Appropriation Lease Obligations),dated as of November 24,2009 (the"Bonds")pursuant to a resolution adopted by the Authority on November 2,2009 and a Trust Indenture dated as of November 1,2009(the"Indenture"),between the Authority and U.S.Bank National Association,as trustee(the"Trustee"). The Bonds are payable from rental payments to be made by the City of Edina(the"City")to the Authority pursuant to a Lease Agreement dated as of November 1,2009(the"Lease Agreement"),between the Authority,as lessor,and the City,as lessee. Section 2. The Bonds are subject to redemption and prepayment on any Business Day. Section 3. The City has determined to make rental payments to the Authority under the Lease Agreement in an amount sufficient to redeem on February 1,2012,or as soon thereafter as practicable, all of the Bonds maturing on February 1 in the years 2013 through 2017,2029 and 2030,and has requested that the Board of Commissioners approve such redemption of the Bonds. The redemption of the Bonds described above is hereby approved and the Chair and Secretary are hereby authorized and directed to cause the Bonds to be redeemed on February 1,2012,or as soon thereafter as practicable. Section 4. The Trustee is hereby authorized and directed to cause the notice of redemption in the form required by Section 3.2 of the Indenture to be mailed in accordance with such Section 3.2 to the registered holders of the Bonds to be redeemed. ADOPTED by the Board of Commissioners of the Edina u ing d Redevelopment Authority this 3rfl day of January,2012. Its Chair ATTEST- Its xec tive D r NOTICE OF REDEMPTION $2,595,000 Public Project Revenue Bonds, Series 2009A (City of Edina Annual Appropriation Lease Obligations) Dated November 24,2009 Edina Housing and Redevelopment Authority,Minnesota NOTICE IS HEREBY GIVEN THAT there have been called for redemption and prepayment on February 1, 2012, all outstanding Bonds of the above referenced issue, maturing on February 1 in the following years and having the interest rates and CUSIP numbers listed below: Interest CUSIP Interest CUSIP Year Amount Rate Number* Year Amount Rate Number* 2013 $105,000 2.10% 280615 CG8 2017 $120,000 3.35% 280615 CL7 2014 110,000 2.50 280615 CH6 2029 190,000 4.50 280615 CY9 2015 110,000 2.88 280615 02 2030 200,000 4.55 280615 CZ6 2016 115,000 3.13 280615CK9 The Bonds will be redeemed at a price of 100%of their principal amount plus accrued interest to the date of redemption. Holders of the Bonds should present them for payment to U.S. Bank National Association, St. Paul, Minnesota, St. Paul, Minnesota, on or before said date, when they will cease to bear interest,in the following manner: If by Mai : If by Hand or Overnight Mail: U.S.Bank National Association U.S.Bank National Association Corporate Trust Operations,3rd Floor Bond Drop Window, 3rd Floor Post Office Box 64111 60 Livingston Avenue Saint Paul,MN 55164-0111 Saint Paul,Minnesota 55107 (800)934-6802 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 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 Paying Agent shall not be responsible for the selection of or use of the CUSIP number, nor is any representation made as to its correctness indicated in this Notice of Redemption. It is included solely for the convenience of the Holders. Additional information may be obtained from the undersigned or from Ehlers & Associates, Inc., 3060 Centre Pointe Drive, Roseville, Minnesota 55113-1122 (651-697-8500), financial consultant to the Authority. Dated: January 3,2012. BY ORDER OF THE BOARD OF COMMISSIONERS EDINA HOUSING AND REDEVELOPMENT AUTHORITY,M S TA By a r *The Registrar shall not be responsible for the selection or use of the CUSIP numbers,nor is any representation made as to their correctness indicated in this Notice of Redemption or on any Bond. They are included solely for convenience of the Holders. Denotes full call of CUSIP.