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The Council then proceeded to consider and discuss the bids, after which flavor Eggert introduced the following_resolution and moved its adoption: RESOLUTION 84-14 RESOLUTION ACCEPTING BID ON SALE OF $1,075,000 GENERAL OBLIGATION TAX INCREMENT BONDS OF 1984 AND PROVIDING FOR THEIR ISSUANCE BE IT RESOLVED by the Council of the City of Falcon Heights, Minnesota, as follows: 1. The bid of American National Bank & Trust ~m~a_n~ th e "Purchaser") to purchase $1,075,000 General Obligation Tax Increment Bonds of 1984 of the City (hereinafter referred to as "Bonds" or individually as "Bond"), in accordance with the notice of bond sale, at the rates of interest hereinafter set forth, and to pay therefor the sum of $~ _062, 15.00 plus interest accrued to settlement is hereby found, determined and declared to be the most favorable bid received, and is hereby accepted and the Bonds are hereby awarded to said bidder. The Clerk-Administrator is directed to retain the deposit of said bidder and to forthwith return the good faith checks or drafts to the unsuccessful bidders. 2. The Bonds shall be dated June 1, 1984, as the date of original issue and shall be issued forthwith as fully registered bonds. The Bonds shall be numbered from R-1 upward in the denomination of $5,000 each or any integral multiple thereof. The Bonds shall mature on March 1 in the years and amounts as follows: 1988 $125,000 1989 $125,000 1990 $150,000 1991 $150,000 1992 $175,000 1993 $175,000 1994 $175,000 All dates are inclusive. 3. For the purposes of complying with Minnesota Statutes, Section 475.54, Subdivision 1, the maturity schedule for the Bonds has been combined with the maturity schedule for the City's outstanding $525,000 General Obligation Tax Increment Improvement Bonds of 1983, dated September 1, 1983, as permitted by Minnesota Statutes, Section 475.54, Subdivision 2. r~