Resolution 2016-028 - Laserfiche WebLink

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Councilmernber introduced the following resolution and moved its adoption, which motion was seconded by Councihnember �ry E IT RESOLVED by the City Council of the City of Lae Elmo, Minnesota (the "City"), as follows. Section 1. Authorization- pi rposo; It is hereby determined to be in the best interests of the City to issue its General Obligation Binds, Series 2016A,<in the approximate principal amount of $9,860,000 (the "Bonds"), as authorized pursuant to Minnesota Statutes, Chapters 475, 444 and 429, for the purpose of (afinancing improvements in the City, (b) financing various water, sewer and storm water improvement in the City, and (c) funding casts of issuance of the Bonds. Section 2. Notice of Sale. Northland Securities, Inc., municipal advisor to the City, has presented to this Council a fdnn of Notice of Sale for the Bonds which is attached hereto and hereby approved and which shall be placed on file by the City Administrator, Each and all of the provisions of the Notice e of Sale are hereby adapted as the terms and conditions of the Bonds and of the safe thereof. Northland Securities, Inc. is hereby authorized to solicit bids for the Bonds on behalf of the City on a competitive basis. Section 3. Award and Salo, The City Council shall meet at the tines and places shown in the Notice of Sale for the purpose of considering sealed bids for the purchase of the Bonds and of taking such action thereon as maybe in the best interest of the City. and the following me nbers voted against the same: whereupon the resolution was declared duly passed and adopted;