04-07-81 CCM - Laserfiche WebLink

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P. No other obligations have been sold within the last three calendar months pursuant to a private sale which when combined with this issue would exceed $200,000 as required by Minnesota Statutes, Section 475.60, subdivision 2(2). NOW THEREFORE BE IT RESOLVED by the Council of the City of Lake Elmo, Minnesota, as follows: 1. That the offer of Juran and Moody, Inc. to purchase $125,000 General Obligation Equipment Certificates of 1981 of the City in accordance with the terms and at the rates of interest hereinafter set forth and to pay therefor the sum of $122,550 is hereby accepted. Said certificates shall be payable as to principal and interest at The First National Bank of Saint Paul, in St. Paul, Minnesota or any successor paying agent duly appointed by the City. 2. The $125,000 negotiable coupon general obligation certificates of the City shall be dated April 1, 1981 and shall be issued forthwith. The bonds shall, be 25 in number and numbered .from 1 to 25, both inclusive, in the denomination of $5,000 each. The bonds shall mature serially, lowest numbers first, without option of prepayment, on April 1, in the years and amounts as follows: $15,000 in the year 1982; $20,000 in the year 1983; $25,000 in the year 1984; $30,000 in the year 1985; and $35,000 in the year 1986. 3. Said certificates shall provide funds for the purchase of a. fire truck for the City. The total cost of said purchase, which shall include all. costs enumerated in Minnesota. Statutes, Section 475.65, is estimated to be at least equal to the amount of the certificates herein authorized. 4. The certificates shall mature in the years and bear the serial numbers set forth below, and shall bear interest payable October 1, 1981 and semiannually thereafter oil April 1 and October 1 of each year at the respective rates per annum set opposite the maturity years and serial numbers: