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1998.04.13 RESO 1998-0012
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1998.04.13 RESO 1998-0012
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10/26/2017 2:03:52 PM
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1/14/2015 11:50:40 AM
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City Council
Document Type
Resolutions
Meeting Date
4/13/1998
Meeting Type
Regular
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SALE DETAILS <br />DATE: April 13, 1998 <br />ISSUER: City of Hugo, Minnesota <br />BOND NAME: $1,825,000 Taxable General Obligation Temporary <br />Tax Increment Bonds, Series 1998C <br />BOND ATTORNEY: Briggs & Morgan (Mary Ippel) <br />PURPOSE: Finance the costs of land acquisition and site improvements related to the <br />development of the Bald Eagle Industrial Park <br />Sale Date: May 4, 1998. <br />Est. Closing Date: May _, 1998 <br />Proposal Opening: 1:00 p.m., office of Ehlers & Associates, Inc. <br />Proposal Award: 7:00 p.m., municipal offices. <br />Type of Sale: <br />Independent Financial Advisory Provision. <br />Bonds Dated: May _, 1998 (date of closing). <br />Maturity: February 1, 2001 <br />First Interest: February 1, 1999. Interest will be computed on the basis of a 360 - <br />day year of twelve 30 -day months and will be rounded pursuant to <br />rules of the MSRB. <br />Call Feature: Bonds will be subject to redemption prior to final maturity on <br />August 1, 1999 and on any date thereafter. <br />Minimum Proposal: $1,804,000. <br />Good Faith: $36,500, payable to the Issuer (Cashiers or Certified Good Faith <br />Check or wire transfer of funds to Ehlers Good Faith Escrow or <br />financial surety bond. <br />Record Date: Close of business on the 15th day (whether or not a business day) <br />of the immediately preceding month. <br />
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