HomeMy WebLinkAbout8109 (Res.)
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r-' CERTIFICATION OF MINUTES RELATING TO
$1,095,000 GENERAL OBLIGATION IMPROVEMENT BONDS,
SERIES 1989A
Issuer: City of Stillwater, Minnesota
Governing Body: City Council
Kind. date, time and place of meeting: A reaular
meeting held July 18, 1989 at ~ o'clock p.m., at the City
Hall.
Members present:
Abrahamson
Opheim, Farrell, Bodlovick & Mayor
Members absent:
Kimble
Documents Attached:
Minutes of said meeting (including):
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RESOLUTION NO. 8109
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE
OF $1,095,000 GENERAL OBLIGATION IMPROVEMENT
BONDS, SERIES 1989A
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 l8thday of July, 1989.
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Mary Lou Johnson
City Clerk
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Counc ilmember
. Bodlovick
introduced the following
resolution and moved its adoption:
RESOLUTION NO. 8109
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE
OF $1.095.000 GENERAL OBLIGATION IMPROVEMENT
BONDS, SERIES 1989A
BE IT RESOLVED by the City Council of the City of
Stillwater. Minnesota. as follows:
1. Authorization. It is hereby found and determined
that it is necessary and expedient for the City to issue and
sell its General Obligation Improvement Bonds. Series 1989A.
pursuant to Minnesota Statutes. Chapter 429. in the aggregate
principal amount of $1,095.000, to finance the cost of the
following improvements:
Improvement
Cost
$ 196.254
155,892
729,751
$1,081,897
14.235
(1.132)
$1,095.000
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L.I. 253 (South 3rd & Orleans)
L.I. 255 (Sunset Ridge)
L.r. 251 (Greeley & Forest Hills)
Plus Bond Discount
Less Investment Earnings
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 short Notice of Sale
for publication, which are attached hereto and are hereby
approved and shall be placed 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 the
Bonds and of the sale thereof. and shall be made available to
all prospective purchasers. The City Clerk is authorized and
directed to cause the Notice of Sale to be published once in
the official newspaper of the City. which is a legal newspaper
having a general circulation within the City, and once in the
Northwestern Financial Review, a financial periodical published
in the Twin Cities metropolitan area, at least ten days before
the date of sale.
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3, Sale Date. The Council shall meet on Tuesday,
August 15, 1989, at 7:00 p.m" Central Time, to consider the
bids received and take such action thereon as is deemed in the
best interest of the City.
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Attest: ~ ~
. CitV derk 0 .
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Mayor
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