2002.08.05 RESO 2002-0038 - Laserfiche WebLink

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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF HUGO, MINNESOTA HELD: August 5, 2002 Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the City of Hugo, Washington County, Minnesota, was duly held at the City Hall on August 5, 2002, at 7:00 o'clock P.M., for the purpose, in part, of considering proposals for, and awarding the competitive negotiated sale of $440,000 General Obligation Equipment Certificates, Series 2002A. The following members were present: and the following were absent: 1(a-x,r. i Membere-7,6 v er w introduced the following resolution and moved its adoption: The City Administrator presented proposals on $440,000 General Obligation Equipment Certificates, Series 2002A of the City, for which proposals were to be received, opened and tabulated by the City Administrator, or designee, this same day, in accordance with the resolution adopted by the City Council on July 1, 2002. The following proposals were received, opened and tabulated at 11:00 A.M., Central Time, at the offices of Springsted Incorporated, in the presence of the City Administrator, or designee, on this same day: Bidder Interest Rate True Interest Cost (See Attached) RESOLUTION ACCEPTING PROPOSAL ON THE COMPLrT1TIVE NEGOTIATED SALE OF $440,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES, SERIES 2002A, PROVIDING FOR THE ISSUANCE, AND LEVYING A TAX FOR THE PAYMENT THEREOF A. WHEREAS, the City Council of the City of Hugo, Minnesota (the "City"), has heretofore determined and declared that it is necessary and expedient to issue $440,000 General Obligation Equipment Certificates, Series 2002A of the City (the "Certificates" or, individually, a "Certificate"), pursuant to Minnesota Statutes, Chapter 475 and Minnesota Statutes, Section 412.301, to finance the acquisition of capital equipment for the City (the "Project"); and iai