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RESOLUTION NO. 7603
PROVIDING FOR THE ISSUANCE AND SALE OF
$380,000 GENERAL OBLIGATION CAPITAL OUTLAY BONDS,
SERIES 1986
BE IT RESOLVED by the City Council of the City of Stillwater, Minnesota, as
follows:
Section 1. Recitals and Bond Authorization. It is hereby determined to
be necessary and expedient for the City to issue and sell its General
Obligation Capital Outlay Bonds, Series 1986, in the principal amount of
$380,000 to finance various capital projects within the City, pursuant to
Section 200 of the City Charter and Minnesota Statutes, Sections 475.52
and 475.58.
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Section 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
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 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.
Section 3. Date of Sale. This Council shall meet on Tuesday, July 1,
1986, at 4:30 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 3rd day of June, 1986
Published: June 13, 1986
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