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• <br />• <br />• <br />In accordance with the official Terms of Proposal the following adjustments were made: <br />Principal Amount: <br />Maturities: <br />Minimum Purchase Price: <br />RESOLUTION NO. 06 -175 <br />A RESOLUTION AWARDING THE SALE OF $3,025,000 GENERAL <br />OBLIGATION CAPITAL IMPROVEMENT PLAN REFUNDING BONDS, SERIES 2006E; <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 (the "City ") as follows: <br />Section 1. Sale of Bonds. <br />1.01. The proposal of (the "Purchaser ") <br />to purchase $ General Obligation Capital Improvement Plan Refunding Bonds, <br />Series 2006E (the "Bonds ") of the City described in the Terms of Proposal thereof is determined <br />to be a reasonable offer and is 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 />Year Interest Rate Year Interest Rate <br />2010 2015 <br />2011 2016 <br />2012 2017 <br />2013 2018 <br />2014 <br />True interest cost: <br />1.02. The sum of $ being the amount proposed by the Purchaser in excess <br />of $ is credited to the Debt Service Fund hereinafter created, or credited to the <br />Escrow Account hereinafter created, as determined by the City's financial advisor. The City <br />Finance Director is directed to deposit the good faith check of the Purchaser, pending completion <br />of the sale of the Bonds, and to return the good faith checks of the unsuccessful proposers <br />2 <br />