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• <br />• <br />• <br />RESOLUTION NO. 02 -60 <br />A RESOLUTION AWARDING THE SALE OF $645,000 <br />GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2002A <br />FIXING THEIR FORM AND SPECIFICATIONS; <br />DIRECTING THEIR EXECUTION AND DELIVERY; <br />AND PROVIDING FOR THEIR PAYMENT <br />BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka County, <br />Minnesota (City) as follows: <br />Section 1. Sale of Bonds. <br />1.01. It is hereby determined that: <br />(a) the following assessable public improvements (the Improvements) <br />have been made, duly ordered or contracts let for the construction thereof, by the City pursuant <br />to the provisions of the City's home rule charter and Minnesota Statutes, Chapters 429 and 475 <br />(collectively, the Act); <br />Project Designation & Description: Total Project Cost <br />Total Project Costs $740,0078 <br />Less: Community Development Block Grant (125,000) <br />Plus: Capitalized Interest 13,430 <br />Costs of Issuance 8,500 <br />Allowance for Discount Bidding 8,063 <br />Total Series 2002A Bond Issue $645,000 <br />(b) it is necessary and expedient to the sound financial management of <br />the affairs of the City to issue $645,000 General Obligation Improvement Bonds, Series 2002A <br />(Bonds) pursuant to the Act to provide financing for the Improvements. <br />1.02. The proposal of (Purchaser) to <br />purchase $645,000 General Obligation Improvement Bonds, Series 2002A (Bonds) of the City <br />described in the Terms of Proposal thereof is hereby found and determined to be a reasonable <br />offer and is hereby accepted, the proposal being to purchase the Bonds at a price of <br />$ plus accrued interest to date of delivery, for Bonds bearing interest as follows: <br />DJG- 215844v1 <br />LN 140 -78 <br />