2000.11.06 RESO 2000-0044 - Laserfiche WebLink

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s a "Bond") for the payment of the 1998B Bonds on their maturity date, February 1, 2001, and to pledge special assessments to the payment thereof, and D. WHEREAS, the City has retained Ehlers and Associates, Inc. in Roseville, Minnesota ("Ehlers"), as its independent financial advisor for the Bonds and therefore proposals to purchase the Bonds have been solicited by Ehlers in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); and E. WHEREAS, proposals set forth on Exhibit A attached hereto were received pursuant to the terms established for the Bonds at the offices of Ehlers, in the presence of the City Clerk -Treasurer, or designee, at 11:00 A.M., Central Time, this same day; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Hugo, Minnesota, as follows: 1. &M -tam of Prop. The proposal of Wells Fargo Brokerage Services, LLC (the "Purchaser"), to purchase the Bonds in accordance with the terms established for the Bonds, at the rates of interest hereinafter set forth, and to pay therefor the sum of $1,008,402.50, plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted, and the Bonds are hereby awarded to said proposal maker. The Clerk -Treasurer is directed to retain the deposit of said proposal maker and to forthwith return to the unsuccessful proposal makers their good faith checks or drafts. r (a) Title: Original Issue Date: Denominations: Maturity. The Bonds shall be titled "General Obligation Temporary Improvement Bonds, Series 2000B"; shall be dated November 28, 2000, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The Bonds shall be numbered from R 1 upward in the denomin- ation of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations"), The Bonds shad all mature on August 1, 2003, unless called for earlier. redemption. (b) Book Entry Only Ste: The Depository Trust Corhpany, a limited -purpose trust company organized under -the laws ofthe State -of New York or any of its. successors or its successors to its functions hereunder (the "Depository") will act as securities - . depository for'the Bonds,.and to'this end: (i) The Bonds*shall be initially issued and, so long as -they remain.in book,entry form only (the "Book.EntryOnly Period"), shall at all times be m. the form of a separate .. ' single fully registered Bond for each maturity of the Bonds; and for purposes of complying with this requirement under paragraphs 5 and 10 Authorized Denominations 1222136.1 2