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• It was reported that six (6) proposals had been received prior to 12:00 Noon, Central <br /> Time today for the purchase of the$1,645,000 General Obligation Refunding Bonds, <br /> Series 2009B of the City in accordance with the Official Statement distributed by the City to <br /> potential purchasers of the Bonds. The proposals have been read and tabulated, and the terms of <br /> each have been determined to be as follows: <br /> Bidder Purchase Price Interest Rates Net Interest Cost <br /> (See Attached) <br /> Councilmember Stille then introduced the following resolution and moved its adoption: <br /> RESOLUTION 09-087 <br /> RESOLUTION RELATING TO $1,645,000 GENERAL <br /> OBLIGATION REFUNDING BONDS, SERIES 200913; <br /> AWARDING THE SALE, FIXING THE FORM AND DETAILS <br /> AND PROVIDING FOR THE EXECUTION AND DELIVERY <br /> • THEREOF AND SECURITY THEREFOR AND LEVYING AD <br /> VALOREM TAXES FOR THE PAYMENT THEREOF <br /> BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota(the <br /> "City"), as follows: <br /> Section 1. Recitals. Authorization and Sale of Bonds. <br /> 1.01. Authorization. The City has presently outstanding its General Obligation Tax <br /> Abatement Bonds, Series 2001 A, initially dated as of February 1, 2001 (the "Series 2001 A <br /> Bonds"), its General Obligation Improvement Bonds, Series 2001B, initially dated as of April 1, <br /> 2001 (the"Series 2001B Bonds") and its General Obligation Improvement Bonds, Series 2002A, <br /> initially dated as of March 1, 2002 (the"Series 2002A Bonds," and together with the <br /> Series 2001A Bonds and the Series 2002A Bonds, the "Prior Bonds"). The Series 2001A Bonds <br /> were issued pursuant to Minnesota Statutes, Section Section 469.1814 and are payable primarily <br /> tax abatements to be derived by the City and Independent School District No. 282 from certain <br /> specified properties of the City (the "Tax Abatement Revenue"). The Series 2001B Bonds and <br /> Series 2002A were issued to defray the expense incurred and estimated to be incurred by the City <br /> in making various water, street and sewer improvements in the City, including every item of cost <br /> of the kinds authorized in Minnesota Statutes, Section 475.65 and are payable primarily from <br /> special assessments which the City has levied or agreed to levy on the property specially <br /> benefited by the improvements financed by the issuance of the Bonds and ad valorem taxes <br /> levied on all taxable property in the City. This Council hereby determines that it is in the best <br /> • interest of the City to issue its $1,645,000 General Obligation Refunding Bonds, Series 2009B <br /> (the "Bonds") for the purpose of currently refunding on February 1, 2010 all of the outstanding <br />