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CITY OF ST. ANTHONY <br /> RESOLUTION 97-037 <br /> • RESOLUTION CALLING FOR THE SALE OF <br /> LIQUOR STORE REVENUE BONDS, SERIES 1997 <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 owns and operates municipal liquor <br /> stores. To replace one of the City's existing liquor stores the City will acquire and <br /> construct a new liquor store (the Project). To finance the Project, it is determined to <br /> be in the best interests of the City to issue its Liquor Store Revenue Bonds, Series <br /> 1997 in the principal amount of $ (the Bonds), pursuant to Minnesota <br /> Statutes, Chapter 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 <br /> sale of the Bonds, which is attached hereto and hereby approved and shall be placed <br /> on file with the City Clerk. Each and all of the provisions of the Terms of Proposal <br /> are hereby adopted as the terms and conditions of the Bonds and of the sale thereof. <br /> Springsted Incorporated, as independent financial advisors, pursuant to Minnesota <br /> Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby authorized to solicit <br /> bids for the Bonds on behalf of the City on a negotiated basis. <br /> • Section 3. Sale Meeting. This Council shall meet with the City Hall on <br /> Tuesday, , 1997 at 7:00 o'clock P.M. for the purpose of considering sealed <br /> bids for the purchase of the Bonds, and of taking such action thereon as may be in <br /> the best interests of the City. <br /> Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or <br /> a portion of the costs of the Project may be paid by the City prior to the issuance of <br /> the Bonds to finance the Project, 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 <br /> all of a portion of the costs of the Project paid by the City prior to the issuance of the <br /> Bonds from the proceeds of the Bonds. <br /> Adopted this 9th day of June, 1997. <br /> Attest: cceJJ���7z� <br /> City Clerk Mayor <br /> Reviewed for administration. 0) 4 - <br /> City <br /> Manager <br />