Laserfiche WebLink
CITY OF ST. ANTHONY <br />RESOLUTION 95 -015 <br />SAMPLE ZZ <br />RESOLUTION CALLING FOR THE SALE OF GENERAL <br />OBLIGATION IMPROVEMENT BONDS, SERIES 1995A <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 Council has ordered the 1995 Watermain <br />and Street Improvements under Minnesota Statutes, Chapter 429 (collectively the <br />Improvements). To finance the Improvements, it is determined to be in the best <br />interests of the City to issue its General Obligation Improvement Bonds, Series <br />1995A in the principal amount of $825,000 (the Bonds), pursuant to Minnesota <br />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 <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, February 14, 1995 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 Improvements may be paid by the City prior to the <br />issuance of the Bonds to finance the Improvements, and to the extent such costs are <br />paid by the City prior to the issuance of the Bonds it is the reasonable intent of the <br />City to reimburse all of a portion of the costs of the Improvements paid by the City <br />prior to the issuance of the Bonds from the proceeds of the Bonds. <br />Adopted this 10th day of January, 1995. <br />Attest: <br />y C er Mayor <br />Reviewed for administration. <br />City Manager <br />