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D. WHEREAS, proposals to purchase the Bonds have been <br />solicited by Ehlers and Associates, Inc. ( "Ehlers ") in accordance <br />with the Preliminary Resolution; and <br />E. WHEREAS, the proposals set forth on Exhibit A <br />attached hereto were received, opened and tabulated pursuant to <br />the Terms of Proposal established for the Bonds by the <br />Administrator, or designee, at the City Hall at 11:00 A.M., <br />Central Time, this same day; and <br />F. WHEREAS, it is in the best interests of the City <br />that the Bonds be issued in book -entry form as hereinafter <br />provided; and <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Little Canada, Minnesota, as follows: <br />1. Acceptance of Proposal. The proposal of <br />(the "Purchaser "), to <br />purchase the Bonds (or individually, a "Bond "), in accordance <br />with the Terms of Proposal, at the rates of interest hereinafter <br />set forth, and to pay therefor the sum of $ , plus <br />interest accrued to settlement, is hereby found, determined and <br />declared to be the most favorable proposal received and is hereby <br />accepted, and the Bonds are hereby awarded to said proposal <br />maker. The Administrator is directed to retain the deposit of <br />said proposal maker and to forthwith return to the unsuccessful <br />proposal makers their good faith checks or drafts. <br />2. Bond Terms. <br />(a) Title; Original Issue Date; Denominations; Maturities; <br />Term Bond Option. The Bonds shall be titled "General Obligation <br />Permanent Improvement Revolving Fund Bonds, Series 1999A ", shall <br />be dated November 1, 1999, as the date of original issue and <br />shall be issued forthwith on or after such date as fully <br />registered bonds. The Bonds shall be numbered from R -1 upward in <br />the denomination of $5,000 each or in any integral multiple <br />thereof of a single maturity (the "Authorized Denominations "). <br />The Bonds shall mature on February 1 in the years and amounts as <br />follows: <br />Year Amount Year Amount <br />2001 -2004 $50,000 2005 -2010 $45,000 <br />All dates are inclusive. <br />As may be requested by the Purchaser, one or more term Bonds <br />may be issued having mandatory sinking fund redemption and final <br />maturity amounts conforming to the foregoing principal repayment <br />1093421.1 <br />Page 85 <br />