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Member Bodlovick introduced the fOllowing resolution
and moved its adoption:
RESOLUTION NO. 7657
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
$1,000,000 GENERAL OBLIGATION CAPITAL OUTLA~
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 iinancing
the cost of various capital proJects within the City, tne Clty
determines that it is necessary to sell and issue general
obligation bonds of the City in the amount of $1,000,000
pursuant to Section 200 of the City Charter and Minnesota
Statutes, Sections 475.52 and 475.58.
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2. Sale Terms. Springsted Incorporated, Dond
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
attached hereto and shall be placed on file in the office oi
the Clerk. Each and all of the provisions of the Offlcial
Terms of Offering are hereby adopted as the terms and
conditions of said bonds and of the sale tnereof, and shall De
made available to all prospective purchasers of the Donds. Tne
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 pUDlished
in Minneapolis, at least ten days before tne date oi sale.
3. Sale Meeting. This Council shall meet on Tuesday,
November 18, 1986, at 6:30 P.M., to consider the Dids received
for the purchase of the bonds, and to take such actions tnereon
as is deemed in the best interests of the City.
'pp,ovo.. 4 &. It,::'')
. Mayor
Attest:
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Adopted by Council 10/21/86
Published: 10/31/86
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