Resolution 23-058 - Laserfiche WebLink

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systems, which serves the interests of the City as a whole. 1.02. The Plan is approved in the form on file in City Hall. Section 2. Street Reconstruction Bonds Authorized. 2.01. The City is authorized to issue the Street Reconstruction Bonds in a maximum principal amount of$4,550,000, plus any premium received by the City, in order to finance the Project described in the Plan. City staff, its municipal advisor, and its legal counsel are authorized to take all actions needed to call for the sale of the Street Reconstruction Bonds, subject to the contingency described in Section 3.02 hereof. 2.02. If a petition requesting a vote on the issuance of the Street Reconstruction Bonds signed by voters equal to five percent (5%) of the votes cast in the last municipal general election is filed with the City Clerk within thirty (30) days after the date of the public hearing, the City may issue the Street Reconstruction Bonds only after obtaining approval of a majority of voters voting on the question at an election. The authorization to issue the Street Reconstruction Bonds is subject to expiration of the thirty (30) day period without the City's receipt of a qualified petition under the Act, or if a qualified petition is filed, upon the approving vote of a majority of the voters voting on the question of issuance of the Street Reconstruction Bonds. 2.03. City staff are authorized and directed to take all other actions necessary to carry out the intent of this resolution. Adopted by the City Council of the City of Lino Lakes this 26th day of June, 2023. Ma or,R b Rafferty ATTEST: City Clerk, Jolleen Chaika 2