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CITY OF ST. ANTHONY <br /> ' RESOLUTION 00-043 <br /> • RESOLUTION CALLING FOR THE SALE OF GENERAL <br /> OBLIGATION STORM SEWER REVENUE BONDS, SERIES 2000A <br /> BE IT RESOLVED by the City Council of the City of St. Anthony (the City), as <br /> follows: <br /> Section 1. Purpose. The City operates a storm sewer utility pursuant to <br /> Minnesota Statutes, Section 444.075. It is hereby determined to be in the best interests of the <br /> City to issue its General Obligation Storm Sewer Revenue Bonds, Series 2000A, in the amount <br /> of$1,610,000 (the Bonds), pursuant to Minnesota Statutes, Chapters 475 and Minnesota <br /> Statutes, Section 444.075, the proceeds, net of issuance expenses, to be used to finance various <br /> improvements to the City's storm sewer system (the Project). <br /> Section 2. Terms of Proposal. Springsted Incorporated, financial consultant to <br /> the City, has presented to this Council a form of Terms of Proposal for sale of the Bonds, which <br /> is attached hereto and hereby approved and shall be placed on file with the City Clerk. Each and <br /> all of the provisions of the Terms of Proposal are hereby adopted as the terms and conditions of <br /> the Bonds and of the sale thereof. Springsted Incorporated, as independent financial advisors, <br /> pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph(9) is hereby <br /> authorized to solicit bids for the Bonds on behalf of the City on a negotiated basis. <br /> • Section 3. Sale Meetiniz. This Council shall meet at the City Hall on Tuesday, <br /> June 13, 2000 at 7:00 o'clock P.M. for the purpose of considering sealed bids for the purchase of <br /> the Bonds, and of taking such action thereon as may be in the best interests of the City. <br /> Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or a portion <br /> of the costs of the Project may be paid by the City prior to the issuance of the Bonds to finance <br /> the Project, and to the extent such costs are paid by the City prior to the issuance of the Bonds it <br /> is the reasonable intent of the City to reimburse all or a portion of the costs of the Project paid by <br /> the City prior to the issuance of the Bonds from the proceeds of the Bonds. <br /> Adopted this 23rd day of May, 2000. <br /> Attest: <br /> City Cler Mayor <br /> Reviewed for administration. <br /> City Manager <br /> • <br />