HomeMy WebLinkAboutResolution 1085RES01,0TION DETV-PrMIN NG T11r, NrCESISTTY
TiND T.��PEDIrNCII 0-
.r ISSUJING SANJTARY _q_1-WEp_.
ROWDS, AWARDINW, THE RALE ANI) I'T'i'INC 'J'"f4
FORM AND DETAILS TliekLlor
WIMLIP-1hij - CitY hdO experienced q series of e-xtraordinaty &,iwur main
M # tile
F170MR-r-, thr- eatimato-i r(zpairing whic-1-1 I
lar- buen $70,000.001 arid
WHERRASf the vost nf
rh, 1lar
been advanced from the aanitary
und which hall thereby bp -on deplfite41 aild
WHEItZAC, It is deu.'red to revLure to the City f4ndu the CoSt of SUCh
L
rmp�ar inoltiding the cost of fjrdljc�ncl;
I - and
WHE af, tha State bank Of NeW Brightonj Minnesota, hns offorod to loan
CItY $75,000-00 to covur ouch costs by the purchase or tb& City'a
1ener4l obligation sanitary Newer revenue bonds at an interest rate of
4-por annum for bonds dated March 1, 19VO Rnd-ma-turinq on March I in
the years and amounts &# follows,
earl 1
thru lql� i-1-1clutive, and
Wtoao in the ytar 1986
All WithOUt opt.tft of prior redemption
Iff RLBOLV�D, by City cenunci7of the city of
VA-ewl- MinnalotAl
it is rican4ary j�.hd *xpcdignt and in
t'N city's beat inter6st-fo) the City to Is -sue its sis100-0.00 V6
sewaz revrnue bonds in accordance with Minnesota
PtAtUtGA Section 4i4.075.
2. M offer of tho state Bank of New Brighton, Minnesota, to purchase
said bo d
11'rat an interest rate of 71-par.azinum is hereby accepted-
aila�-C--l-a-r-k---A-d-mi-n-intratot are
hereby direclod to endorse
an &COOPtAlice On a writtan affor t�n be prepared.
3. the revenues of the @*War system aro hereby pledged to the payment
of rinotpal and interest an said bonds as they become due, and it
14 gtrstby astimat" th&t said revenues are and will be sufficient to
Pay said principal and interest and, if such revenue should prove
insti"I'Ate for such purpose the City pledges -to use anj- monien on
hind in the Treanury to pay such bond.
�.J-
p
�i- T�
RES01,0TION DETV-PrMIN NG T11r, NrCESISTTY
TiND T.��PEDIrNCII 0-
.r ISSUJING SANJTARY _q_1-WEp_.
ROWDS, AWARDINW, THE RALE ANI) I'T'i'INC 'J'"f4
FORM AND DETAILS TliekLlor
WIMLIP-1hij - CitY hdO experienced q series of e-xtraordinaty &,iwur main
M # tile
F170MR-r-, thr- eatimato-i r(zpairing whic-1-1 I
lar- buen $70,000.001 arid
WHERRASf the vost nf
rh, 1lar
been advanced from the aanitary
und which hall thereby bp -on deplfite41 aild
WHEItZAC, It is deu.'red to revLure to the City f4ndu the CoSt of SUCh
L
rmp�ar inoltiding the cost of fjrdljc�ncl;
I - and
WHE af, tha State bank Of NeW Brightonj Minnesota, hns offorod to loan
CItY $75,000-00 to covur ouch costs by the purchase or tb& City'a
1ener4l obligation sanitary Newer revenue bonds at an interest rate of
4-por annum for bonds dated March 1, 19VO Rnd-ma-turinq on March I in
the years and amounts &# follows,
earl 1
thru lql� i-1-1clutive, and
Wtoao in the ytar 1986
All WithOUt opt.tft of prior redemption
Iff RLBOLV�D, by City cenunci7of the city of
VA-ewl- MinnalotAl
it is rican4ary j�.hd *xpcdignt and in
t'N city's beat inter6st-fo) the City to Is -sue its sis100-0.00 V6
sewaz revrnue bonds in accordance with Minnesota
PtAtUtGA Section 4i4.075.
2. M offer of tho state Bank of New Brighton, Minnesota, to purchase
said bo d
11'rat an interest rate of 71-par.azinum is hereby accepted-
aila�-C--l-a-r-k---A-d-mi-n-intratot are
hereby direclod to endorse
an &COOPtAlice On a writtan affor t�n be prepared.
3. the revenues of the @*War system aro hereby pledged to the payment
of rinotpal and interest an said bonds as they become due, and it
14 gtrstby astimat" th&t said revenues are and will be sufficient to
Pay said principal and interest and, if such revenue should prove
insti"I'Ate for such purpose the City pledges -to use anj- monien on
hind in the Treanury to pay such bond.
I ( !4 !V
4. 'PI -P. boncis and it'! ('rO"t- c-OuPOI)v 6hall In.- Printod under the dircc-titjtj
Of the Clerk-A"�Im"ut.riitor jji a flil-fl-I vatintantory Lo (-'�'ty Counsel
W)n' Coullsel j.ric.'.ud-ncj the- pr4n#�ed legal 01jin-lon of Dw-raQly,
Will tiley, and liallndtAyl ain uno back of Atioh
bond .
Upon --ece'.A of thP VUrehABe price incladina jnf�qr
fr'om il�jjvuty, t.hu 'Preasurar nimll (Jellvtjr usaid
bonds
AdD-Ptgd thih 25--th 44ay f:)t 1,7t-L-ruary
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