Title
General Bond Resolution Authorizing the Issuance of Parking Enterprise Revenue Refunding Bonds
Body
GENERAL BOND RESOLUTION
BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, as follows:
ARTICLE 1
DEFINITIONS, LEGAL AUTHORIZATION AND FINDINGS
SECTION 1.1 Definitions
.
The following terms, unless the context or use thereof shall clearly require otherwise, shall have the following meanings:
Act: Minnesota Statutes, Sections 469.001 to 469.047, as amended;
Accreted Value: with respect to a Capital Appreciation Bond on any date, the present value thereof on the immediately preceding date specified in such Revenue Bond (or if such date is the specified date, then on such date), determined by computing the present worth of all payments of principal and interest remaining to be paid thereon using a discount factor equal to the yield at which such Capital Appreciation Bond was initially offered to the public, as further specified in a table of Accreted Values contained in the Capital Appreciation Bond and in the related Supplemental Resolution;
Additional Bonds: any Revenue Bonds issued by the Authority in addition to the Series 2025 Bonds under the terms of a Supplemental Resolution;
Additional Parking Facility: a parking facility not included in the list of Parking Facilities in Exhibit?A to the Pledge Agreement, as of the date of issuance of the Series 2025 Bonds, but added to the list of Parking Facilities by an amendment or supplement to Exhibit A to the Pledge Agreement;
Authority: the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, or any successor to its functions;
Authority Parking Meter Collection and Fines Account: the account by that name heretofore created and maintained by the Authority in the Parking Enterprise Fund into which the first $3,000,000 of combined Fine Revenue and Meter Revenue for a Fiscal Yea...
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