HomeMy WebLinkAboutCC RES 97-037 RESOLUTION CALLING FOR THE SALE OF LIQUOR STORE REVENUE BONDS, SERIES 1997 Meeting Sheet
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103243
Box: 26
Folder: RES 1997
Document: CC RES 97-037 RESOLUTION CALLING FOR THE SALE OF
LIQUOR STORE REVENUE BONDS, SERIES 1997
CITY OF ST. ANTHONY
RESOLUTION 97-037
• RESOLUTION CALLING FOR THE SALE OF
LIQUOR STORE REVENUE BONDS, SERIES 1997
BE IT RESOLVED by the City Council of the City of St. Anthony (the
City), as follows:
Section 1. Purpose. The City owns and operates municipal liquor
stores. To replace one of the City's existing liquor stores the City will acquire and
construct a new liquor store (the Project). To finance the Project, it is determined to
be in the best interests of the City to issue its Liquor Store Revenue Bonds, Series
1997 in the principal amount of $ (the Bonds), pursuant to Minnesota
Statutes, Chapter 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 with the City Hall on
Tuesday, , 1997 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 Project may be paid by the City prior to the issuance of
the Bonds to finance the Project, 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 of a portion of the costs of the Project paid by the City prior to the issuance of the
Bonds from the proceeds of the Bonds.
Adopted this 9th day of June, 1997.
Attest: cceJJ���7z�
City Clerk Mayor
Reviewed for administration. 0) 4 -
City
Manager