CC RES 92-038 RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF $405,000 LIQUOR STORE REFUNDING BONDS, SERIES 1992A

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• Councilmember Enrooth introduced the following resolution and moved its adoption: RESOLUTION AUTHORIZING ISSUANCE AND SALE OF $405,000 LIQUOR STORE REVENUE REFUNDING BONDS, SERIES 1992A BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota (the City), as follows: Section 1. Purpose. It is hereby determined to be in the best interests of the City to issue its $405,000 aggregate principal amount of Liquor Store Revenue Refunding Bonds, Series 1992A (the Bonds), pursuant to Minnesota Statutes, Chapter 475, to refund the 1994 through 1998 maturities of the $690,000 Liquor Store Revenue Bonds, Series 1987, dated as of July 1, 1987. Section 2. Terms of Proposal. Springsted Incorporated, financial consultant to the City, has presented to this Council a form of Terms of Proposal for the Bonds, which is attached hereto and hereby approved and shall be placed on file with the Manager. 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 advisers, 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 at the City Hall on Tuesday, August 25, 1992, at 7:30 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. Attest: Jerk Mayor The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Ranallo and upon vote being taken thereon, the following voted in favor thereof: Ranallo, Enrooth, Wagner, Fleming and the following voted against the same: None whereupon the resolution was declared duly passed and adopted.