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RESOLUTION NO. 7604
AUTHORIZING ISSUANCE AND SALE
OF $320,000 GENERAL OBLIGATION IMPROVEMENT BONDS,
SERIES 1986A
BE IT RESOLVED by the City Council of the City of Stillwater, Minnesota, as
follows:
1. Bond Authorization. For the purpose of financing the local
improvements designated below, this Council determines that it is
necessary to sell and issue general obligation improvement bonds of the
City in the amount of $320,000. The improvements to be financed are as
follows:
Improvement Designation
LI Fischer Heights 2nd Add.
Streets and Utilities
Estimated Costs
$162,000
LI Wildwood Pines 4th Add.
Streets and Utilities
$156,000
2. Sale Terms. Springsted Incorporated, bond consultants to the City,
has presented to this Council a form of Official Terms of Offering of the
sale of the bonds, and a form of Notice of Sale for publication, which
forms 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 sale.
3. Sale Meeting. This Council shall meet on Tuesday, July 1, 1986, at
4:30 P.M., to consider the bids received for the purchase of bonds, and
to take such actions thereon as is deemed in the best interests of the
City.
Adopted by the Council the 3rd day of June, 1986.
Published: June 13, 1986
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ATTEST: ~ ~r~
CITY CLERK