Resolution No. 2021-108 Redemption of Bonds
Resolution No. 2021-108
Approving the Redemption of Series 2010A General Obligation Utility Revenue Bonds
for the City of Fridley
Whereas, the City Council of the City of Fridley (Council) issued its $2,810,000 General Obligation
Utility Revenue Bonds, Series 2010A (Bonds), dated August 4, 2010, of which $1,120,000 remains
outstanding; and
Whereas, the Bonds maturing in the years 2022 through 2026, inclusive, are subject to
redemption and prepayment at the option of the City on February 1, 2020, and on any date
thereafter, at price of par plus accrued interest, all as provided in the Resolution No. 2010-40 of
the City Council, dated July 12, 2010, authorizing the issuance of the Bonds; and
Whereas, the Council deems it desirable and in the best interests of the City to call the 2022
through 2026 maturities of the Bonds, inclusive, totaling $1,120,000 in principal amount, on
December 15, 2021, in accordance with Resolution No. 2010-40.
Now, therefore be it resolved, that the City Council of the City of Fridley hereby directs all of
the Bonds maturing in the years 2022 through 2026, inclusive, shall be redeemed and prepaid on
December 15, 2021 at par and accrued interest for each such Bond called.
Be it further resolved, that the City Manager shall cause the Notice of Call for Redemption
attached hereto as Exhibit A to be mailed by first class mail (postage prepaid) not less than 30
days prior to December 15, 2021, the date for call, to the paying agent where the Bonds are
payable and to all registered holders of the Bonds.
Be it further resolved, that the City Manager is hereby authorized and directed to deposit with
the paying agent where the Bonds are payable prior to said call date sufficient funds to pay the
principal and interest due on the Bonds called for redemption as of the call date.
th
Passed and adopted by the City Council of the City of Fridley this 8 day of November,
2021.
_______________________________________
Scott J. Lund – Mayor
Attest:
Melissa M. Moore – City Clerk
Exhibit A
Notice of call for Redemption of General Obligation Utility Revenue Bonds, Series 2010A
Notice is hereby given that by order of the City Council of the City of Fridley, Anoka County,
Minnesota, there have been called for redemption and prepayment on: December 15, 2021 those
outstanding bonds of the City designated as General Obligation Utility Revenue Bonds, Series
2010A, dated August 4, 2010, having stated maturity dates in the years 2022 through 2026,
inclusive, and totaling $1,120,000 in principal amount.
Year CUSIP Number*
2022 358370 B86
2023 358370 B94
2024 358370 C28
2025 358370 C36
2026 358370 C44
The bonds are being called at a price of par plus accrued interest to December 15, 2021, on which
date all interest on the bonds will cease to accrue. Holders of the bonds hereby called for
redemption are requested to present their bonds for payment, at Bond Trust Services Corporation,
3060 Centre Pointe Drive, Roseville, Minnesota, 55113-1122.