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Councilmember then introduced the following • <br /> resolution and moved its adoption: <br /> RESOLUTION NO. 95- 0 6 3 <br /> RESOLUTION RELATING TO $2,650,000 GENERAL OBLIGATION <br /> TAX INCREMENT BONDS, SERIES 1995B; AUTHORIZING THE <br /> ISSUANCE, AWARDING THE SALE, FIXING THE FORM AND <br /> DETAILS, AND PROVIDING FOR THE EXECUTION AND DELIVERY <br /> THEREOF AND THE SECURITY THEREFOR <br /> BE IT RESOLVED by the City Council (the "Council") of the City of St. <br /> Anthony, Minnesota (the City), as follows: <br /> Section 1. Authorization and Sale. <br /> 1.01. Authorization. This Council hereby authorizes the sale of <br /> $2,650,000 General Obligation Tax Increment Bonds, Series 1995B (the "Bonds") of <br /> the City, pursuant to Minnesota Statutes, Section 469.178 and Minnesota Statutes, <br /> Chapter 475, to finance a portion of the costs of the construction of a new <br /> community center on property located on land in the City which is subject to the • <br /> redevelopment plans of the HRA. <br /> 1.02. Sale of Bonds. The City has retained Springsted Incorporated, as <br /> independent financial advisors in connection with the sale of the Bonds. Pursuant <br /> to Minnesota Statutes, Section 475.60, subdivision 2, paragraph (9), the requirements <br /> as to public sale do not apply to the issuance of the Bonds. Proposals have been <br /> received for the sale of the Bonds, and the Council has publicly considered all <br /> proposals presented in conformity with the terms and conditions distributed by the <br /> City to potential purchasers of the Bonds. The most favorable of such proposals is <br /> ascertained to be that of , and associates, <br /> of ' (the "Purchaser"), to purchase the Bonds at a price of <br /> $ plus accrued interest on all Bonds to the day of delivery and <br /> payment, on the-further terms and conditions hereinafter set forth. <br /> 1.03 Award of Bonds. The sale of the Bonds is hereby awarded to the <br /> Purchaser and the Mayor and City Manager are hereby authorized and directed on <br /> behalf of the City to execute a contract for the sale of the Bonds in accordance with <br /> the terms of the proposal. The good faith checks of other bidders shall be returned <br /> to them forthwith. <br /> 1.04. Issuance of Bonds. All acts, conditions and things which are <br /> required by the Constitution and laws of the State of Minnesota to be done, to exist, • <br /> to happen and to be performed precedent to and in the valid issuance of the Bonds <br /> having been done, existing, having happened and having been performed, it is now <br />