HomeMy WebLinkAbout1997-270
Resolution 97-270
CouncilmemberThol e introduced the following resolution and moved its
. adoption, which motion was seconded by Councilmember Cummi ngs
RESOLUTION AUfHORIZING ISSUANCE AND SALE OF $4,610,000 GENERAL
OBLIGATION SPORTS CENTER BONDS, SERIES 1998A
BE IT RESOLVED by the City Council of the City of Stillwater, Minnesota (the
City), as follows:
Section 1. Purpose. It is hereby determined to be in the best interests of the City
to issue its $4,610,000 General Obligation Sports Center Bonds, Series 1998A (the Bonds),
pursuant to the City Charter and Minnesota Statutes, Chapter 475, to construct, furnish
and equip a new ice arena and field house complex.
.
Section 2. Terms of Proposal. Springsted Incorporated, financial consultant to
the City, has presented to this Council a form of Terms of Proposal for the Bonds which
is attached hereto and hereby approved and shall be placed on file by the Clerk. Each
and all of the provisions of the Terms of Proposal are hereby adopted as the terms and
conditions of the Bonds and of the sale thereof. Springsted Incorporated, as
independent financial advisers, pursuant to Minnesota Statutes, Section 475.60,
Subdivision 2, paragraph (9) is hereby authorized to solicit bids for the Bonds on behalf
of the City on a negotiated basis.
Section 3. Sale Meeting. This Council shall meet at the time and place shown in
the Terms of Proposal, for the purpose of considering sealed bids for the purchase of the
Bonds and of taking such action thereon as may be in the best interests of the City.
Upon vote being taken thereon, the following voted in favo~ thereof:
and the following voted against the same:
whereupon the resolution was declared duly passed and adopted.
Adopted by Council this 18th day of November, 1997
~kJ~/
ATTE T: City Cl erk
~
~ 1., Mayor
.