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CITY OF ST. ANTHONY <br /> RESOLUTION 98-028 <br /> RESOLUTION CALLING FOR THE SALE OF GENERAL <br /> OBLIGATION IMPROVEMENT BONDS, SERIES 1998A <br /> BE IT RESOLVED by the City Council of the City of St. Anthony (the City), <br /> as follows: <br /> Section 1. Purpose. The City Council has ordered various improvement <br /> projects under Minnesota Statutes, Chapter 429 (collectively, the Improvements). To <br /> finance the Improvements,it is determined to be in the best interests of the City to issue <br /> its General Obligation Improvement Bonds, Series 1998A in the principal amount of <br /> $725,000 (the Bonds), pursuant to Minnesota Statutes, Chapters 429 and 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 sale <br /> of the Bonds,which is attached hereto and hereby approved and shall be placed on file <br /> with the City Clerk. Each and all of the provisions of the Terms of Proposal are hereby <br /> adopted as the terms and conditions of the Bonds and of the sale thereof. Springsted <br /> Incorporated, as independent financial advisors, pursuant to Minnesota Statutes, <br /> Section 475.60, Subdivision 2, paragraph (9) is hereby authorized to solicit bids for the <br /> 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, March 10, 1998 at 7:00 o'clock P.M. for the purpose of considering sealed bids <br /> for the purchase of the Bonds, and of taking such action thereon as may be in the best <br /> interests of the City. <br /> Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or a <br /> portion of the costs of the Improvements may be paid by the City prior to the issuance <br /> of the Bonds to finance the Improvements, and to the extent such costs are paid by the <br /> City 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 Improvements paid by the City prior to the issuance of <br /> the Bonds from the proceeds of the Bonds. <br /> Section 5. Consolidation of Improvements. Pursuant to Minnesota <br /> Statutes, Section 435.56, the Improvements are hereby consolidated and joined as one <br /> project. <br /> Adopted this 10th day of February, 1998. <br /> f All'0�' - 'ad <br /> Attest: <br /> City Clerk Mayor <br /> Reviewed for administration. <br /> 4Cia;nager <br />