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RESOLUTION NO. 6717
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $300,000 GENERAL OBLIGATION
CORPORATE PURPOSE BONDS OF 1980.
BE IT RESOLVED by the City Council of the City of Stillwater, Minnesota, as
follows:
1. Authorization of Bonds. It is hereby determined to be necessary and
expedient for the City to issu.. and sell its General Obligation Corporate Purpose
Bonds of 1980 in the principal amount of $295,000 to finance the acquisition and
betterment of public buildings and equipment, pursuant to Section 200 of the
City Charter and Minnesota Statures, Sections 475.52 and 475.58; and to obtain
the best bid for said bonds at public sale, to sell and issue an additional
$5,000 principal amount of like bonds representing interest together with said
bonds, pursuant to Minnesota Statutes, Section 475.56.
2. Terms of Sale; Notice. Springsted Incorporated, bond consuiant to the
City, has presented to this Council a form of Official Terms of Bond Sale and a
form of Notice of Sale for publication, which are attached hereto and shall be
placed on file in the office of the City Clerk. Each and all of the 2rovisions
of the Official Terms of Bond Sale are hereby adopted as the terms and conditions
of said bonds and of the sale thereof, and shall be made available to all pros-
pective purchasers of the bonds. The City Clerk is authorized and directed to
cause the Notice of Sale to be published once in the official newspaper of the
City, and once in the Commercial West, a financial periodical published in
Minneapolis, at least ten days before the date of the sale specified in the
Notice of Sale.
3. Date of Sale. This Council shall meet on Tuesday, December 4, 1979
at 7:30 P. M., to receive, open and consider sealed bids for the purchase of the
bonds, and to take such action thereon as is deemed in the best interests of the
City.
Adopted by the Council this 6th day of November, 1979
Published: November 13, 1979
Attest: dJ. .2.
City Clerk
Mayor
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