RES 86-041 RESOLUTION RELATING TO $125,000 GENERAL OBLIGATION CERTIFICATES OF INDEBTEDNESS; FIXING THE FORM AND DETAILS, AND PROVIDING FOR THE EXECUTION AND DELIVERY THEREOF AND SECURITY THEREFOR

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RESOLUTION 86-041 • Councilmember Marks introduced the following resolution and moved its adoption: RESOLUTION RELATING TO $125,000 GENERAL OBLIGATION CERTIFICATES OF INDEBTEDNESS; FIXING THE FORM AND DETAILS, AND PROVIDING FOR THE EXECUTION AND DELIVERY THEREOF AND SECURITY THEREFOR BE IT RESOLVED by the City Council (the Council) of the City of St . Anthony, Minnesota (the 'City) , as follows : Section 1 . Authorization and Sale. 1 .01 . Authorization. This Council has heretofore determined that it is necessary and expedient for the City to issue and sell its Certificates of Indebtedness in the principal amount of $125, 000 to finance public safety and public works equipment purchases, pursuant to Minnesota Statutes, Section 412.301 . The obligations shall be general obligation negotiable securities denominated General Obligation Certificates of Indebtedness , issued in the aggregate principal amount of $125, 000 (the Certificates) . • 1 . 02 . Sale. By a resolution adopted on November 25, 1986, entitled "Resolution Relating to $125, 000 Equipment Certificates of Indebtedness; Authorizing the Issuance Thereof and Awarding the Sale, " this Council authorized the issuance of the Certificates and awarded the sale thereof to Miller & Schroeder Financial, Inc. , at a price of $123, 125, plus accrued interest . $1 ,875 of the amount of the Certificates. represents interest as permitted by Minnesota Statutes, Section 475 . 56 . 1 . 03 . Issuance of Certificates . All acts, conditions and things which are required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed precedent to and in the valid issuance of the Certificates having been done, existing, having happened and having been performed, it is now necessary for this Council to establish the form and terms of the Certificates, to provide security therefor and to issue the Certificates forthwith. Section 2 . Form of Certificates . The Certificates shall be prepared in substantially the following form: