RES 88-019 RESOLUTION AUTHORIZING ISSUANCE AND SALE OF $875,000 GENERAL OBLIGATION-REVENUE WATER SYSTEM BONDS, SERIES 1988A

Home Browse Search

• �.,ember Ranallo introduced the following resolu- tion and moved its adoption : RESOLUTION NO. 88-019 RESOLUTION AUTHORIZING ISSUANCE AND SALE OF $875, 000 GENERAL OBLIGATION-REVENUE WATER SYSTEM BONDS, SERIES 1988A BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota, as follows : 1. Bond Authorization. It is hereby found and determined that it is necessary and expedient for the City to issue and sell its General Obligation-Revenue Water System Bonds, Series 1988A, in a principal amount not to exceed $875, 000, pursuant to Minnesota Statutes, Section 444 . 075 and Chapter 475, to finance a -temporary water filtration system and costs associated with certain litigation against the U.S. Army relating to contaminated ground water. 2 . Sale Terms . Springsted Incorporated, bond consul- tants to the City, has presented to this Council a form of Official Terms of Offering of the sale of the bonds, and a form of Notice of Sale for publication, which forms are attached hereto and shall be placed. on file in the office of the Clerk. Each and all of the provisions of the Official Terms of Offering are hereby adopted as the terms and conditions of said bonds and of the sale thereof, and shall be made available to all prospective purchasers of the bonds . The Clerk is authorized and directed to cause the Notice of Sale to be published once in the official newspaper of the City, and once in the Commercial West, a financial periodical published in Minneapolis, at least ten days before the date of sale . 3 . Sale Meeting. This Council shall meet on Tuesday, June 28, 1988, at 7 : 30 P.M. , to consider the bids received for the purchase of the bonds , and to take s actions thereon as is deemed in the best interests of the C ' y. Mayor Attest : &4,,4_e City Clerk— J . lerkJ • r