RES 22-046 RELATING TO $2,385,000 GEN BOND OBLIG. IMPRVMT BONDS, SERIES 2022A; AUTH. THE ISSUANCE, AWARDING THE SALE, FIXING THE FORM AND DETAILS, PROVIDING FOR THE EXECUTION & DELIVERY AND SECURTY AND LEVYING TAXES FOR PAYMENT

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Councilmember Lkkn6LLI PSfC' introduced the following resolution (the "Resolution") and moved its ddoption, which motion was seconded by Councilmember ITlOtlnQS RckndL : RESOLUTION 22-046 RESOLUTION RELATING TO $2,385,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2022A; AUTHORIZING THE ISSUANCE, AWARDING THE SALE, FIXING THE FORM AND DETAILS, PROVIDING FOR THE EXECUTION AND DELIVERY THEREOF AND THE SECURITY THEREFOR AND LEVYING AD VALOREM TAXES FOR THE PAYMENT THEREOF BE IT RESOLVED by the City Council (the "Council") of the City of St. Anthony, Minnesota (the "City"), as follows: SECTION 1. AUTHORIZATION AND SALE. 1.01. Authorization. This City Council, by resolution duly adopted on April 12, 2022, authorized the issuance and sale of its General Obligation Improvement Bonds, Series 2022A (the "Bonds"), pursuant to Minnesota Statutes, Chapters 429 and 475, for the purpose of financing certain improvement projects within the City (the "Project") and to pay costs associated with the issuance of the Bonds. 1.02. Sale. Pursuant to the Terms of Proposal and the Preliminary Official Statement prepared on behalf of the City by Ehlers & Associates, Inc. ("Ehlers"), municipal advisors to the City, sealed or electronic proposals for the purchase of the Bonds were received at or before the time specified for receipt of proposals. The proposals have been opened and publicly read and considered and the purchase price, interest rates and net interest cost under the terms of each proposal have been determined. The most favorable proposal received is that of Northland Securities, Inc. in Minneapolis, Minnesota, and associates (the "Purchaser"), to purchase the Bonds at a purchase price of $2,369,066.10, on the further terms and conditions hereinafter set forth. 1.03. Award. The sale of the Bonds is hereby awarded to the Purchaser, and the Mayor and City Clerk are hereby authorized and directed on behalf of the City to execute a contract for the sale of the Bonds with the Purchaser in accordance with the Preliminary Official Statement. The good faith deposit of the Purchaser shall be retained and deposited by the City until the Bonds have been delivered, and shall be deducted from the purchase price paid at settlement. SECTION 2. BOND TERMS: REGISTRATION, EXECUTION AND DELIVERY. 2.01. Issuance of Bonds. All acts, conditions and things which are required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed precedent to and in the valid issuance of the Bonds having been done, now existing, having happened and having been performed, it is now necessary for the Council to establish the form and terms of the Bonds, to provide security therefor and to issue the Bonds forthwith. 4876-8449-2315\4