Laserfiche WebLink
for the purchase of the Bonds were received at or before the time specified for receipt of <br /> proposals. The proposals have been opened and publicly read and considered, and the purchase <br /> price, interest rates and true interest cost under the terms of each bid have been determined. The <br /> most favorable proposal received is that of RBC Capital Markets, of Minneapolis, Minnesota, <br /> and associates (the"Purchaser"),to purchase the Bonds at a price of$5,253,383.92, the Bonds to <br /> bear interest at the rates set forth in Section 2.01. The proposal is hereby accepted, and the <br /> Mayor and the City Manager are hereby authorized and directed to execute a contract on the part <br /> of the City for the sale of the Bonds with the Purchaser. The good faith checks of the <br /> unsuccessful bidders shall be returned forthwith. <br /> 1.03. Performance of Requirements. All acts, conditions and things which are required <br /> by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be <br /> performed precedent to and in the valid issuance of the Bonds having been done, existing, having <br /> happened and having been performed, it is now necessary for this Council to establish the form <br /> and terms of the Bonds, to provide security therefor and to issue the Bonds forthwith. <br /> 1.04. Maturities of Bonds. The Council hereby finds that the maturities of the <br /> Improvement Bonds as set forth in Section 3.01 hereof are warranted by the anticipated <br /> collections of special assessments and ad valorem taxes levied and to be levied for the payment <br /> of the Improvement Bonds as provided in Section 5 hereof. <br /> Section 2. Form of Bonds. The Bonds shall be prepared in substantially the <br /> following form: <br /> i <br /> [The remainder of this page is intentionally left blank] <br /> • <br /> -2- <br />