HomeMy WebLinkAbout1993-128
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CERTIFICATION OF MINUTES RELATING TO
$1,000,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1993A
$1,400,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1993B
$1,840,000 GENERAL OBLIGATION CAPITAL OUTLAY BONDS, SERIES 1993C
Issuer: City of Stillwater, Minnesota
Governing Body:
City Council
Kind, date, time and place of meetinq: A regular meeting held on
July 20, 1993, at 7:00 o'clock P.M. at the City Hall.
Members present: Gary Funke, Jay Kimble, Richard cummings, Ann
Marie Bodlovick and Mayor Charles Hooley
Members absent: None
Documents Attached:
Minutes of said meeting (pages):
RESOLUTION NO. 93-128
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF:
$1,000,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1993A
$1,400,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1993B
$1,840,000 GENERAL OBLIGATION CAPITAL OUTLAY BONDS, SERIES 1993C
TERMS OF PROPOSALS
I, the undersigned, being the duly qualified and actinq
recording officer of the public corporation issuinq the bonds
referred to in the title of this certificate, certify that the
documents attached hereto, as described above, have been carefully
compared with the oriqinal records of said corporation in my leqal
custody, from which they have been transcribed; that said
documents are a correct and complete transcript of the minutes of
a meeting of the qoverning body of said corporation, and correct
and complete copies of all resolutions and other actions taken and
of all documents approved by the qoverning body at said meetinq,
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 throuqhout by the members indicated above, pursuant to
call and notice of such meetinq given as required by law.
~> WITNESS my hand officially as such recordinq officer
this ~day of July, 1993.
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Cpuncilmember Bodlovickintroduced the
following resolution and moved its adoption:
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF:
$1,000,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1993A
$1,400,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1993B
$1,840,000 GENERAL OBLIGATION CAPITAL OUTLAY BONDS, SERIES 1993C
BE IT RESOLVED by the City Council of the City of
Stillwater, Minnesota (the City), as follows:
Section 1. PUT"n"..". It is hereby determined to be in
the best interests of the City to issue its:
(a) General Obligation Tax Increment Bonds, Series
1993A, in the principal amount of $1,000,000, pursuant to
Minnesota Statutes, Chapters 469 and 475, to finance public
improvements within the City's Redevelopment District No.1;
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(b) General Obligation Improvement Bonds, Series 1993B,
in the principal amount of $1,400,000, pursuant to Minnesota
Statutes, Chapters 429 and 475, to finance public improvements, as
more fully described on Exhibit A attached hereto; and
(c) General Obligation Capital Outlay Bonds, Series
1993C, in the principal amount of $1,840,000, pursuant to
Minnesota Statutes, Chapter 475, to finance various capital outlay
purchases for the City.
Section 2. T..rm" nf Proposal. Springsted Incorporated,
financial consultant to the City, has presented to this Council a
form of Terms of Proposal for the Bonds described in Section 1
which are 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. Sal.. M....rinq. 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 interest of the
City.
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Attest:
Mayor
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