HomeMy WebLinkAbout7802 (Res.)
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CERTIFICATION OF MINUTES RELATING TO
$840,000 GENERAL OBLIGATION IMPROVEMENT BONDS,
SERIES 1987C
Issuer:
City of Stillwater, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A special meeting held on
September B, 1987, at 7:00 o'clock P.M., at the City Hall.
Members present:
Councilmembers Bodlovick, Farrell, Kimble, Opheim, and
Mayor Abrahamson.
None.
Members absent:
Documents Attached:
Minutes of said meeting (pages):
RESOLUTION NO. 7802
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF
$B40,OOO GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES
19B7C
OFFICIAL TERMS OF OFFERING
NOTICE OF SALE
I, the undersigned, being the duly qualified and acting
recording officer of the public corporation issuing 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 original records of said corporation in my legal
custody, from which they have been transcribed; that said
documents are a correct and complete transcript of the minutes of
a meeting of the governing body of said corporation, and correct
and complete copies of all resolutions and other actions taken and
of all documents approved by the governing body at said meeting,
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 throughout by the members indicated above, pursuant to
call and notice of such meeting given as required by law.
WITNESS my hand officially as such recording officer
this~ day of September, 1987.
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Sl.gnatur
Mary Lou Johnson
Clerk
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Councilmember Opheim
introduced the follow-
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~ ing resolution and moved it adoption:
RESOLUTION NO. 7802
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF
$B40,OOO GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES
1987C
BE IT RESOLVED by the City Council of the City of
Stillwater, Minnesota as follows;
Section 1. Issuance of Bonds. It is hereby found and
determined that it is desirable for the City to issue and sell
its General Obligation Improvement Bonds (the Bonds) in the
aggregate principal amount of $840,000 to finance the following
improvement projects pursuant to Minnesota Statutes, Chapter 429;
Project
Cost
r
Less Investment Earnings
$354,300
297,000
176,400
827,700
12,600
B40,300
300
$840,000
L. 1. 220
L. 1. 240
L. 1. 242
Plus Bond Discount
Section 2. Terms of Salel Notice. Springsted Incorpor-
ated, bond consultants 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 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 shall be
made available to all prospective purchasers of the Bonds. The
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 specified
in the Notice of Sale.
Section 3. Sale Date. This Council shall meet on
Tuesday, October 6, 19B7, 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 interest of the City.
Approved:
!Jt1i/.w t2ki~
Mayor
~" Attest:
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The motion for the adoption of the foregoing resolution
was duly seconded by Councilmember Kimble
Upon vote
being taken thereon, the following members voted in favor thereof:
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and the following members voted against the same:
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whereupon said resolution was declared duly passed and adopted.