HomeMy WebLinkAboutCC RES 99-019 A RESOLUTION CALLING FOR THE SALE OF GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1999A Meeting Sheet
IIIIIIVIIIVIIIVIIIVIIIVIIIIIIIIIII
ioaaai
Box: 31
Folder: RES 1999
Document: CC RES 99-019 A RESOLUTION CALLING FOR THE SALE OF
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1999A
CITY OF ST. ANTHONY
• RESOLUTION 99-019
A RESOLUTION CALLING FOR THE SALE OF GENERAL
OBLIGATION IMPROVEMENT BONDS, SERIES 1999A
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 1999A in the principal amount of$425,000.00 (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 the 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 Council on Tuesday, March
9, 1999, at 7:20 PM 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.
Section 5. Consolidation of Improvements. Pursuant to Minnesota Statutes, Section 435.56,
the Improvements are hereby consolidated and joined as one project.
Adopted this day of ` , 1999.
Mayor
ATTEST:
City Clerk
Reviewed by Administration:
City anager