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Councilmember then introduced the <br /> following resolution and moved its adoption: <br /> RESOLD 7ON 94- 036 <br /> RESOLUTION RELATri G TO $525,000 GLVERAL <br /> OBLIGATION IMPROVEMENT BONDS, SERIES 1994B; <br /> AWARDR,'G THE SALE, FIXL\'G THE FORM AND DETAILS <br /> A.ND PROVIDING FOR THE EXECU77Oi AND <br /> THEREOF AND SECURITY THEREFOR AND L DELIVERY <br /> VALOREM TAXES FOR THE PAYMENT THEREOF <br /> AD <br /> BE IT RESOLVED by the City Council of the City of St. Anthony, <br /> --Minnesota (the "City"), as follows: y <br /> Section 1. Recitals Authorization and Sale of Bonds. <br /> 1.01.. Authorization. This Council has heretofore ordered various <br /> improvements, to be constructed within the City under and p ursua nt to Minnesota Statutes, Chapter 429, consisting of street reconstruction on 32nd Avenue <br /> Rankin Road to Silver Lake Road; bituminous overlay on Croft Drive from N.E. from <br /> Avenue N.E. to 33rd Avenue N.E.; bituminous overlay on Sk croft Drive 32nd <br /> 32nd Avenue N.E. to 33rd Avenue N.E.; bituminous overlay rive from <br /> from Rankin Road to Silver Lake Road; bituminous overlay yon on Rant Avenue N.E. <br /> 32nd Avenue N.E. to 33rd Avenue N.E.; and bituminous overlay on 32nd Road from <br /> N.E. from Croft Drive to Rankin Road (collectively the "Improvements").32nd Avenue <br /> present estimated total cost of the Improvements is as follos: The <br /> Z Project Costs <br /> Discount Allowance . . . . . ' ' ' ' ' $517,650 <br /> —L3-50 <br /> Total . . . . . . <br /> $525,000 <br /> This Council hereby determines to issue and sell $525,000 principal <br /> General Obligation Improvement Bonds, Series 19948, of the City p pal amount of <br /> defray the expense incurred and estimated to be incurred b the ity i "Bonds") to <br /> Improvements, including every item of cost of the kinds authorized City in making the <br /> Statutes, Section 475.65, and $7,350 representing interest as provided in Minnesota <br /> Statutes, Section 475.56. The City has retained Springsted Incorporated ed in Minnesota' <br /> aca <br /> financial advisor to the City in connection with the issuance an to act as <br /> and it is hereby determined to sell the Bonds without meeting he requirements the Bonds, <br /> to public sale under Minnesota Statutes, Section 475.60, subdivision , prsuant as <br /> the exception from such requirement contained in clause (9) of Minnesota to <br /> Section 475.60, subdivision 2. innesota Statutes, <br />