HomeMy WebLinkAbout1991-129
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CERTIFICATION OF MINUTES RELATING TO
$2,600,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1991A
$650,000 TAXABLE GENERAL OBLIGATION TAX INCREMENT BONDS,
SERIES 1991B
AND
$3,400,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1991C
Issuer: City of Stillwater, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting held on Tuesday, July 2,
1991, at 7:00 o'clock P.M. at the City Hall.
Members present:
Mayor Abrahamson, Councilmembers Bodlovick, Farrell,
Funke and Opheim
Members absent:
None
Documents Attached:
RESOLUTION NO. 91- 129
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF:
$2,600,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1991A
$650,000 TAXABLE GENERAL OBLIGATION TAX INCREMENT BONDS,
SERIES 1991B
AND
$3,400,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1991C
OFFICIAL TERMS OF OFFERING AND NOTICES OF SALE
I, the undersigned, being the duly qualified and acting recording officer of the public
corporation issuing the bonds referred to in the title of this certificate, certify that the
documents attached hereto, as desaibed above, have been carefully compared with
the original records of said oorporation in my legal custody, from which they have
been transaibed; that said documents are a correct and complete transcript of the
minutes of a meeting of the governing body of said corporation, and oorrect and
complete copies of all resolutions and other actions taken and of all documents
approved by the governing body at said meeting, so far as they relate to said bonds;
and that said meeting was duly held by the governing body at the time and place and
was attended throughout by the members indicated above, pursuant to call and
notice of such meeting given as required by law.
WITNESS my hand officially as such recording officer this ~<Hay of July, 1991.
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Deputy City Clerk '
SEAL
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Counci1member Bodl ovi ck
introduced the following
resolution and moved its adoption:
RESOLUTION NO. 91- 129
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF:
$2,600,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1991A
$650,000 TAXABLE GENERAL OBLIGATION TAX INCREMENT BONDS,
SERIES 1991B
AND
$3,400,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1991C
BE IT RESOLVED by the City Council of the City of Stillwater,
Minnesota (the City), as follows:
Section 1. Purposes. It is hereby determined to be in the best interests
of the City to issue its:
(a) General Obligation Improvement Bonds, Series 1991A, in the
principal amount of $2,600,000 (the Series A Bonds), pursuant to Minnesota
Statutes, Chapters 429 and 475, to finance the following public improvement
projects:
Project
Estimated Cost
SEE APPENDIX I ATTACHED HERETO
(b) Taxable General Obligation Tax Increment Bonds, Series 1991B, in
the principal amount of $650,000 (the Series B Bonds), pursuant to Minnesota
Statutes, Chapters 469 and 475, to finance a portion of the cost of acquiring land for
the City's Downtown Redevelopment Project; and
(c) General Obligation Tax Increment Bonds, Series 1991C, in the
principal amount of $3,400,000 (the Series C Bonds), pursuant to Minnesota Statutes,
Chapters 469 and 475, to finance a portion of the eligible public improvement costs
for the City's Downtown Redevelopment Project.
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Section 2. Terms of Sales and Notices. Springsted Incorporated,
financial consultant to the City, has presented to this Council forms of Official
Terms of Offering for the Series A Bonds, the Series B Bonds and the Series C Bonds
and Notices of Sale for publication, which shall be placed on file by the Clerk. Each
and all of the provisions of the Official Terms of Offering are hereby adopted as the
terms and conditions of the Series A Bonds, Series B Bonds and Series C Bonds,
respectively, and of the sale thereof. The Clerk is authorized and directed to cause
the Notices of Sale to be published once in the official newspaper and once in a bond
trade publication at least 10 days prior to the date on which bids for the purchase of
the Series A Bonds, Series B Bonds and Series C Bonds will be received.
Section 3. Sale Meetins. This Council shall meet at the City Hall on
Tuesday, August 6,1991, at-1:oo o'clock P.M, for the purpose of considering sealed
bids for the purchase of the Series A Bonds, Series B Bonds and Series C Bonds and
of taking such action thereon as may be in the best interests of the City.
Attest
4L'J."/hxL:~
Deputy City Clerk
#!1~
Mayor
The motion for the adoption of the foregoing resolution was 'duly
seconded by Councilmember
Farrell
and upon vote being taken
thereon, the following voted in favor thereof:
All
and the following voted against the same:
None
whereupon the resolution was declared duly passed and adopted.
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