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• RESOLUTION 02-025 <br /> RESOLUTION CALLING FOR THE SALE OF GENERAL OBLIGATION <br /> IMPROVEMENT BONDS, SERIES 2002 <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 various improvement <br /> projects under Minnesota Statutes, Chapter 429 (collectively, the Improvements). To <br /> finance the Improvements, it is determined to be in the best interests of the City to issue <br /> its General Obligation Improvement Bonds, Series 2002 in the principal amount of <br /> $1,500,000 (the Bonds),pursuant to Minnesota 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 sale <br /> of the Bonds,which is attached hereto and hereby approved and shall be placed on file <br /> with the City Clerk. Each and all of the provisions of the Terms of Proposal are hereby <br /> adopted as the terms and conditions of the Bonds and of the sale thereof. Springsted <br /> Incorporated, as independent financial advisors,pursuant to Minnesota Statutes, Section <br /> 475.60, Subdivision 2,paragraph(9)is hereby authorized to solicit bids for the Bonds on <br /> • behalf of the City on a negotiated basis. <br /> Section 3. Sale Meeting. This Council shall meet at the City Hall on <br /> Tuesday,March 12, 2002 at 7:00 o'clock P.M. for the purpose of considering sealed bids <br /> for the purchase of the Bonds, and of taking such action thereon as may be in the best <br /> interests of the City. <br /> Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or a <br /> portion of the costs of the Improvements may be paid by the City prior to the issuance of <br /> the Bonds to finance the Improvements, and to the extent such costs are paid by the City <br /> prior to the issuance of the Bonds it is the reasonable intent of the City to reimburse all or <br /> a portion of the costs of the Improvements paid by the City prior to the issuance of the <br /> Bonds from the proceeds of the Bonds. <br /> Adopted this 12`x'day of February,2 <br /> Attest: <br /> City CIA Mayor <br /> Reviewed for administration. IN Al <br /> City Manager <br />