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RESOLUTION NO. 7223
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $745,000 GENERAL OBLIGATION
IMPROVEMENT BONDS OF 1983.
BE IT RESOLVED by the City Council of the City of Stillwater, Minnesota,
as follows:
1. Bond Authorization. This Council has heretofore ordered the local improve-
ments designated below to be constructed in or acquired by the City, and has con-
tracted or will contract for the construction of acquisition of each said improve-
ment, pursuant to Minnesota Statutes, Chapter 429. The designation and estimated
total cost of such improvements is as follows:
Project Description Total Costs
LI 201 Linson Addition
Streets & Utilities $ 131,669
LI 203 Radle's Hilltop Addition 114,340
Streets & Utilities
LI 205 Wildwood Pines
First & Second Addition 224,728
Streets & Utilities
LI 206-1 Interlachen Hills 258,582
Streets & Utilities
LI 207 Orleans Street 18,134
Storm Water Drainage
Total $ 747,453
It is hereby found and determined that it is necessary and expedient for the City
to issue and sell its General Obligation Improvement Bonds of 1983 in the principal
amount of $745,000 to finance the cost of said improvements, pursuant to Minnesota
Statutes, Chapter 429.
2. Terms of Sale; Notice. Springsted Incorporated, bond consultant to the
City, has presented to this Council a form of Official Terms of Offering and a
form of Notice of Sale for publication, which are attached hereto and are hereby
approved and shall be placed on file in the office of the City Clerk. Each and all
of the provisions of the Official Terms of Offering are hereby adopted as the terms
and conditions of said bonds and of the sale thereof, and shall be made available
to all prospective 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
ed
City, which is a legal newspaper having a general circulation within the City,
once in the Commercial West, a financial period'cal published in Minneapolis,
Minnesota, at least ten days before the sale sale specified in the Notice of Sale.
3. Sale Date. This Council duall meet on Tuesday, September 20, 1983, at
4:00 P. M. to receive, open and consider sealed bids for the purchase of the bonds
in accordance with the Official Terms of Offering and to take such action thereon
as is deemed in the best interest of the City.
Adopted by the Council this 24th day of August, 1983
Published: August 30, 1983
Attest:
t
it Clerk
Attest: <#. / / /{/2444
City Coordinator
dna
/14J Mayor
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