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RESOLUTION NO. 85 - 90 <br />RESOLUTION AUTHORIZING ISSUANCE <br />OF CERTIFICATES OF INDEBTEDNESS - 1990A <br />WHEREAS, Minnesota Statutes, Section 412.301 and the <br />Lino Lakes Home Rule Charter authorize the City Council to issue <br />Certificates of Indebtedness within existing debt limits to <br />finance the purchase of equipment; and <br />WHEREAS, a contract will be entered into for the pur- <br />chase of public safety equipment, road equipment, maintenance <br />equipment and other capital equipment for the City of Lino Lakes <br />at a total purchase price of Eighty-eight Thousand Five Hundred <br />and no/100 ($88,500.00) Dollars; and <br />WHEREAS, the City has sought quotations for the pur- <br />chase of said Certificates of Indebtedness, which are on file <br />with the City Clerk; and <br />WHEREAS, it appears that the bid of Firstar Stillwater <br />Bank, Stillwater, Minnesota for the purchase of such <br />Certificates of Indebtedness is the lowest responsible bid. <br />BE IT RESOLVED BY THE CITY COUNCIL OF LINO LAKES, <br />MINNESOTA: <br />1. The bid of Firstar Stillwater Bank for the <br />purchase of Eighty-eight Thousand Five Hundred and no/100 <br />($88,500.00) Dollars Certificates of Indebtedness is hereby <br />accepted. <br />2. The City shall forthwith issue and sell five nego- <br />tiable general obligation equipment Certificates of Indebtedness <br />in the following amounts and dates: <br />-1- <br />