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CITY OF ST. ANTHONY <br /> • RESOLUTION 99-019 <br /> A RESOLUTION CALLING FOR THE SALE OF GENERAL <br /> OBLIGATION IMPROVEMENT BONDS, SERIES 1999A <br /> BE IT RESOLVED by the City Council of the City of St. Anthony (the City), as follows: <br /> Section 1. Purpose. The City Council has ordered various improvement projects under <br /> Minnesota Statutes, Chapter 429 (collectively, the Improvements). To finance the Improvements, it is <br /> determined to be in the best interests of the City to issue its General Obligation Improvement Bonds, <br /> Series 1999A in the principal amount of$425,000.00 (the Bonds), pursuant to Minnesota Statutes, <br /> Chapters 429 and 475. <br /> Section 2. Terms of Proposal. Springsted Incorporated, financial consultant to the City, has <br /> presented to this Council a form of Terms of Proposal for the sale of the Bonds, which is attached <br /> hereto and hereby approved and shall be placed on file with the City Clerk. Each and all of the <br /> provisions of the Terms of Proposal are hereby adopted as the terms and conditions of the Bonds and <br /> of the sale thereof. Springsted Incorporated, as independent financial advisors, pursuant to Minnesota <br /> Statutes, 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 Council on Tuesday, March <br /> 9, 1999, at 7:20 PM for the purpose of considering sealed bids for the purchase of the Bonds, and of <br /> taking such action thereon as may be in the best interests of the City. <br /> Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or a portion of the costs <br /> of the Improvements may be paid by the City prior to the issuance of the Bonds to finance the <br /> Improvements, and to the extent such costs are paid by the City prior to the issuance of the Bonds it is <br /> the reasonable intent of the City to reimburse all or a portion of the costs of the Improvements paid by <br /> the City prior to the issuance of the Bonds from the proceeds of the Bonds. <br /> Section 5. Consolidation of Improvements. Pursuant to Minnesota Statutes, Section 435.56, <br /> the Improvements are hereby consolidated and joined as one project. <br /> Adopted this day of ` , 1999. <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> Reviewed by Administration: <br /> City anager <br />