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CITY OF ST. ANTHONY_; 4c RESOLUTION 00-043 aD ® RESOLUTION CALLING FOR THE SALE OF GENERAL OBLIGATION STORM SEWER REVENUE BONDS, SERIES 2000A BE IT RESOLVED by the City.Council of the City of St. Anthony(the City), as follows: Section 1. Purpose. The City operates a storm sewer utility pursuant to Minnesota Statutes, Section 444.075. It is hereby determined to be in the best interests of the City to issue its General Obligation Storm Sewer Revenue Bonds, Series 2000A (the Bonds), pursuant to Minnesota Statutes, Chapters 475 and Minnesota Statutes, Section 444.075, the proceeds, net of issuance expenses, to be used to finance various improvements to the City's storm sewer system (the Project). Section 2. Terms of Proposal. Springsted Incorporated,financial_consultant to the City, has presented to this Council a form of Terms of Proposal for sale of the Bonds, which is attached hereto and hereby approved and shall be placed on file with the City Clerk. Each and all of the provisions of the Terms of Proposal are hereby adopted as the terms and conditions of the Bonds and of the sale thereof. Springsted Incorporated, as independent financial advisors, pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby authorized to solicit bids for the Bonds • on behalf of the City on a negotiated basis. Section 3. Sale Meeting. This Council shall meet with the City Hall on Tuesday, May 23, 2000 at 7:00 o'clock P.M. for the purpose of considering sealed bids for the purchase of the Bonds, and of taking such action thereon as may be in the best interests of the City. Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or a portion of the costs of the Project may be paid by the City prior to the issuance of the Bonds to finance the -Projecf,Ahtl'to the extent such costs are paid-by-the City-prior to-the-issuance-of the Bonds it.i&the reasonable intent of the City to reimburse all of a portion of the costs of the Project paid by the City prior to the issuance of the Bonds from the proceeds of the Bonds. Adopted.:. Attest: City Clerk Mayor Reviewed for administration. City Manager •