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Councilmember Bloyer introduced the following resolution and moved its adoption, which <br />motion was seconded by Councilmember Lundgren: <br />ANN W-1-- H <br />BE IT RESOLVED by the City Council, City of Lake Elmo, Minnesota (the "City"), as <br />follows: <br />Y 11F puTIM.Put 7invian oi me portion or me bonas anocame to Me Equipment k;s/- /Jy(,,F A <br />designated as "Equipment Bonds" and does not exceed 0.25 percent of the market value of <br />taxable property ill the City ($3,444,612). <br />1.03. Award. 7Me sale of the Bonds is hereby awarded to the Porchaser, and the Mayor <br />and City Admillitstrator are hereby authorized and directed on behalf of the City to execute a <br />contract for the sale of the Bonds with the Purchaser in A" <br />Statement. The good faith deposit of the Purchaser shall be retained and deposited by the City <br />until the Bonds have been delivered, and shall be deducted • the purchase price paid at <br />settlement, <br />