HomeMy WebLinkAbout7658 (Res.)
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Member Farrell introduced the fOllowing resolution and
moved its adoption:
RESOLUTION NO. 7658
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
$600,000 GENERAL OBLIGATION TAX INCREMENT
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
permanently financing public redevelopment costs within Tax
Increment Financing District No. 3 in the City, tne City
determines that it is necessary to sell and issue general
obligation bonds of the City in the amount of $600,000 pursuant
to Minnesota Statutes, Chapters 273 and 475.
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, ana a
form of Notice of Sale for publication, wnich forms are
attached hereto and shall be placed on file in the office of
the 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 snall be
made available to all prospective purchasers of the bonds. Tne
Clerk is authorized and directed to cause the Notice of Sale to
be published once in the official newspaper of tne City, and
once in the Commercial West, a financial periodical publisned
in Minneapolis, at least ten days before the date of sale.
3. Sale Meeting. This Council shall meet on ~uesaay,
November 18, 1986, at 6:30 P.M., to consider the oids received
for the purchase of the bonds, and to take sucn actions thereon
as is .deemedin the best interests of the City.
APp'o.ed'/~ 10. t~
" Mayor
Attest
Adopted by Council 10/21/86
Published: 10/31/86
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