Laserfiche WebLink
R-75-8 <br />RESOLUTION <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION AUTHORIZING ADVANCE REFUNDING OF 1974 <br />PARK BOND ISSUE <br />WHEREAS, the City Council on advice of its financial consultant, Juran <br />and Moody, has determined that advance refunding of the 1974 Park Bond issue <br />could result in a savings to the City of approximately $80,000.00 over the <br />period of years for which those bonds had been issued; and <br />which <br />WHEREAS, it appears that a refunding bond issue/would result in such <br />savings could be offered without expense to the City by reason of the fact <br />that The First National Bank of St. Paul has proposed through Juran and Moody <br />procedure for refunding said bond issue which would result in no cost to the <br />City and a maximum saving to the City; and <br />WHEREAS, said Juran and Moody have recommended advance refunding of said <br />park bond issue as proposed by The First National Bank of St. Paul; <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Lake <br />Elmo that said financial consultants, Juran and Moody, proceed forthwith to <br />prepare a bond offering for advance refunding of the said Park Bond Issue of <br />1974 in accordance with the terms and conditions of The First National Bank <br />of St. Paul's proposal. <br />Adopted by the City Council this 4th day of March, 1975. <br />ems. <br />Maynar er, Mayor <br />Attest: <br />Donald M6hs•komer, Clerk <br />