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CITY OF ST. . ANTHONY <br /> RESOLUTION 97-020 <br /> • RESOLUTION CALLING FOR THE SALE OF GENERAL <br /> OBLIGATION IMPROVEMENT BONDS, SERIES 1997A <br /> BE IT RESOLVED by the City Council of the.City of St. Anthony (the <br /> City), as follows: <br /> Section 1. Purpose. The City Council has ordered the 1997 Street and <br /> Watermain Improvements under Minnesota Statutes, Chapter 429 (collectively, the <br /> Improvements). To finance the Improvements, it is determined to be in the best <br /> interests of the City to issue its General Obligation Improvement Bonds, Series <br /> 1997A in the principal amount of $690,000 (the Bonds), pursuant to Minnesota <br /> Statutes, Chapters 429 and 475. <br /> Section 2. Terms of Proposal. Springsted Incorporated, financial <br /> consultant to the City, has presented to this Council a form of Terms of Proposal for <br /> sale of the Bonds, which is attached hereto and hereby approved and shall be placed <br /> on file with the City Clerk. Each and all of the provisions of the Terms of Proposal <br /> are hereby adopted as the terms and conditions of the Bonds and of the sale thereof. <br /> Springsted Incorporated, as independent financial advisors, pursuant to Minnesota <br /> Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby authorized to solicit <br /> bids for the Bonds on behalf of the City on a negotiated basis. <br /> Section 3. Sale Meeting. This Council shall meet with the City Hall on <br /> Tuesday, March 11, 1997 at 7:00 o'clock P.M. for the purpose of considering sealed <br /> bids for the purchase of the Bonds, and of taking such action thereon as may be in <br /> the best interests of the City. <br /> Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or <br /> a portion of the costs of the Improvements may be paid by the City prior to the <br /> issuance of the Bonds to finance the Improvements, and to the extent such costs are <br /> paid by the City prior to the issuance of the Bonds it is the reasonable intent of the <br /> City to reimburse all of a portion of the costs of the Improvements paid by the City <br /> prior to the issuance of the Bonds from the proceeds of the Bonds. <br /> Section 5. Consolidation of Improvements. Pursuant to Minnesota <br /> Statutes, Section 435.56, the Improvements are hereby consolidated and joined as <br /> one project. <br /> Adopted this 11th day of February, 1997. <br /> • Attest: <br /> City Clerk Mayor <br /> Reviewed for administration. <br /> City Manager <br />