Laserfiche WebLink
• Councilmember introduced the following resolution and <br /> moved its adoption: <br /> RESOLUTION NO. 06-028 <br /> RESOLUTION RELATING TO $3,190,000 GENERAL OBLIGATION BONDS, <br /> SERIES 2006A; AUTHORIZING THE ISSUANCE,AWARDING THE SALE, FIXING <br /> THE FORM AND DETAILS,PROVIDING FOR THE EXECUTION AND DELIVERY <br /> THEREOF AND THE SECURITY THEREFOR AND LEVYING AD VALOREM <br /> TAXES FOR THE PAYMENT THEREOF <br /> BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota <br /> (the City), as follows: <br /> Section 1. Recitals. <br /> 1.01. Authorization. This Council hereby determines that it is in the best <br /> interests of the City to issue its $3,190,000 General Obligation Bonds, Series 2006A, subject to <br /> adjustment in accordance with the Official Statement(the Bonds), of the City(a)to finance <br /> various street and storm sewer improvements (the Improvements); (b)to refund in advance of <br /> maturity the 2007 through 2014 maturities of the outstanding General Obligation Bonds, Series <br /> • 1998A, dated April 1, 1998 (the 1998A Bonds); and(c)to refund in advance of maturity, <br /> together with other available funds,the outstanding General Obligation Temporary Improvement <br /> Bonds, Series 2004A, dated June 1, 2004 (the 2004A Bonds). The 1998A Bonds and the 2004A <br /> Bonds are together referred to as the Refunded Bonds. <br /> 1.02. Sale of Bonds. The City has retained Ehlers &Associates,Inc., an <br /> independent financial advisor,to assist the City in connection with the sale of the Bonds. The <br /> Bonds are being sold pursuant to Minnesota Statutes, Section 475.60, Subdivision 2,paragraph <br /> (9), without meeting the requirements for public sale under Minnesota Statutes, Section 475.60, <br /> Subdivision 1. The City has received proposals for the purchase of the <br /> Bonds. The most favorable proposal received is that of <br /> of , and associates (the Purchaser),to purchase the Bonds at a price <br /> of$ ,the Bonds to bear interest at the rates set forth in Section 3.01. The <br /> proposal is hereby accepted, and the Mayor and the City Manager are hereby authorized and <br /> directed to execute a contract on the part of the City for the sale of the Bonds with the Purchaser. <br /> The good faith checks of the unsuccessful bidders shall be returned forthwith. <br /> 1.03. Issuance of Bonds. All acts, conditions and things required by the <br /> Constitution and laws of the State of Minnesota to be done,to exist,to happen and to be <br /> performed prior to the issuance of the Bonds have been done, do exist,have happened, and have <br /> been performed,wherefore it is now necessary for this Council to establish the form and terms of <br /> the Bonds,to provide for the security thereof, and to issue the Bonds forthwith. <br /> • <br />