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After due consideration of the proposals, Member Dahl then introduced <br />the following written resolution, the reading of which was dispensed with by unanimous consent, <br />and moved its adoption: <br />In accordance with the official Terms of Proposal, the following adjustments were made: None <br />Principal Amount: <br />Maturities: <br />Minimum Purchase Price: <br />RESOLUTION NO. 99-62 <br />A RESOLUTION AWARDING THE SALE OF $680,000 <br />GENERAL OBLIGATION WATER UTILITY REVENUE <br />REFUNDING BONDS, SERIES 1999B; <br />FIXING THEIR FORM AND SPECIFICATIONS; <br />DIRECTING THEIR EXECUTION AND DELIVERY; <br />PROVIDING FOR THEIR PAYMENT; PROVIDING FOR THE <br />ESCROWING AND INVESTMENT OF THE PROCEEDS THEREOF; <br />AND PROVIDING FOR THE REDEMPTION OF <br />BONDS REFUNDED THEREBY. <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 John G. Kinnard & Co. , Inc. (the <br />"Purchaser") to purchase $ 680, 000 General Obligation Water Utility Revenue Refunding <br />Bonds, Series 1999B (the "Bonds") of the City described in the Official Terms of Proposal therefor <br />is determined to be a reasonable offer and is accepted, the proposal being to purchase the Bonds at a <br />price of $ 674, 560 plus accrued interest to date of delivery, for Bonds bearing interest as <br />follows: <br />BMB-167651 <br />LN 140-68 <br />