Laserfiche WebLink
f'IA`i' 21 1999 1049 FR L.S.« D <br />6512227644 TO 35~4tt6429tt3tt9165 P . ©3i 19 <br />Councilperson ~ b 5 on~~ ~mtroduced the following resolution and moved its <br />• adoption: <br />RESOLUTION N0. 99-~ S <br />RESOLUTION AUTHORIZING ISSUANCE, AWARDING SALE, <br />PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR <br />THE PAYMENT OF $1,580,000 GENERAL OBLIGATION <br />Il~IPROVEMENT BONDS, SERIES 1999A <br />BE IT RESOLVED by the City Council of the City of Falcon Heights, Minnesota (the <br />"Issuer"), as follows: <br />Section 1. Authorization and Sale. <br />(a) This Council, by its Resolution No. 98-32, duly adopted on December 16, 1998, <br />authorized the issuance and public sale of its General Obligation Improvement Bonds, Series <br />1999A (the "Bonds' in the approximate principal amount of $1,580,000, to finance the 1999 NE <br />Quadrant stireet improvements project consisting of the following specific street improvements: <br />Asbury Street, Crawford to Roselawn <br />Simpson Street, Crawford to Roselawn <br />Pascal Street, Larpenteur to Roseiawn <br />• Holton Street, Larpenteur to Roselawn <br />Albert Street, Ruggles to Roselawn <br />Ruggles Avenue, Snelling to Hamiine <br />Crawford Avenue, Simpson to Pascal <br />Garden Avenue. Hohon to Hamline <br />(b) This Council has previously ordered the foregoing improvements in accordance <br />with Minnesota Statutes, Sections 429.031 and 429.091. <br />(c} Pursuant to the Terms of Proposal, sealed proposals for the purchase of the <br />Bonds were received at or before the time specified for receipt thereof. The proposals have been <br />opened and considered and the purchase price, interest rates and net interest cost under the terms of <br />each proposal have been determined. The most favorable proposal received is that of <br />of (the "Purchaser', to <br />purchase the Bonds at a price of $ ) ti 5 $N, oo D plus accrued interest on all Bonds to the day of <br />delivery and paymeat, on the further terms and conditions hereinafter set forth. <br />(d) The sale of the Bonds is hereby awarded to the Purchaser and the Mayor and City <br />Administrator are hereby authorized and directed to execute a contract on behalf of the Issuer for <br />the sale of the Bonds in accordance with the terms of the proposal. The good faith check of the <br />Purchaser shall be retained and deposited by the Issuer urrtil the Bonds have been delivered, and <br />shall be deducted from the purchase price paid at settlement. The good faith checks of other <br />bidders shall be returned to them forthwith <br />• 2 <br />