CC RES 95-057 RESOLUTION CALLING FOR THE SALE OF GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1995B

Home Browse Search

•, r RESOLUTION NO. 95 - 057 RESOLUTION CALLING FOR THE SALE OF GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1995B follows: BE IT RESOLVED by the City of St. Anthony, Minnesota (the City), as Section 1. Purpose. It is hereby determined to be in the best interests of the City to issue its General Obligation Tax Increment Bonds, Series 1995B in the principal amount of $2,650,000 (the Bonds), pursuant to Minnesota Statutes, Chapter 475 and Section 469.178, to finance public redevelopment costs of the City and the Housing and Redevelopment Authority in and for the City of St. Anthony relating to the construction of a new community center. Section 2. Terms of Proposal. Springsted Incorporated, financial consultant to the City, has presented to this Council a form of Terms of Proposal for sale of the Bonds, which is attached hereto and hereby approved and shall be placed on file with the City Clerk. Each and all of the provisions of the Terms of Proposal are hereby adopted as the terms and conditions of the Bonds and of the sale thereof. Springsted Incorporated, as independent financial advisors, pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby authorized to solicit • bids for the Bonds on behalf of the City on a negotiated basis. Section 3. Sale Meeting. This Council shall meet at the City Hall on M o n d a y , November 27, 1995, at 7:00 o'clock P.M., for the purpose of considering sealed bids for the purchase of the Bonds, and of taking such action thereon as may be in the best interests of the City. Adopted this 24th day of October, 1995. Attest: � CAy Cl rk Mayor Reviewed for administration. , City Manager