HomeMy WebLinkAboutCC RES 01-045 A RESOLUTION CALLING FOR BID FOR THE SALE OF GENERAL OBLIGATION IMPROVEMENT BONDS, 2001B Meeting Sheet
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104714
Box: 31
Folder: RES 2001
Document: CC RES 01-045 A RESOLUTION CALLING FOR BID FOR THE
SALE OF GENERAL OBLIGATION IMPROVEMENT BONDS, 20016
CITY OF ST. ANTHONY
RESOLUTION 01 - 045
• RESOLUTION CALLING FOR THE SALE OF GENERAL
OBLIGATION IMPROVEMENT BONDS, SERIES 2001 B
BE IT RESOLVED by the City Council of the City of St. Anthony (the City), as
follows:
Section 1. Purpose. The City Council has ordered various improvement projects
under Minnesota Statutes, Chapter 429 (collectively, the Improvements). To finance the
Improvements, it is determined to be in the best interests of the City to issue its General
Obligation Improvement Bonds, Series 2001B in the principal amount of$1,160,000 (the
Bonds), pursuant to Minnesota Statutes, Chapters 429 and 475.
Section 2. Terms of Proposal. Springsted Incorporated, financial consultant to
the City, has presented to this Council a form of Terms of Proposal for sale of the Bonds, which
is attached hereto and hereby approved and shall be placed on file with the City Clerk. Each and
all of the provisions of the Terms of Proposal are hereby adopted as the terms and conditions of
the Bonds and of the sale thereof. Springsted Incorporated, as independent financial advisors,
pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby
authorized to solicit bids for the Bonds on behalf of the City on a negotiated basis.
Section 3. Sale Meeting. This Council shall meet at the City Hall on Tuesday,
March 27, 2001 at 7:00 o'clock P.M. for the purpose of considering sealed bids for the purchase
• of the Bonds, and of taking such action thereon as may be in the best interests of the City.
Section 4. Reimbursement of Costs from Proceeds of the Bonds. All or a portion
of the costs of the Improvements may be paid by the City prior to the issuance of the Bonds to
finance the Improvements, and to the extent such costs are paid by the City prior to the issuance
of the Bonds it is the reasonable intent of the City to reimburse all or a portion of the costs of the
Improvements paid by the City prior to the issuance of the Bonds from the proceeds of the
Bonds.
Adopted this 13th day of March, 200 .
v
Attest: Z
City Clerk Mayor
Reviewed for administration. A=n=,
City Manager
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