2013-05-22 Handouts @ Meeting - Laserfiche WebLink

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i G. WHEREAS, the City has retained Northland Securities, Inc. ( "Northland ") as its independent financial advisor for the Bonds, and Northland has conducted a public sale of the Bonds pursuant to Minnesota Statutes Section 475.60; and H. WHEREAS, the proposals set forth on Exhibit A attached hereto were received by Northland at 10:30 a.m., on May 22, 2013; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City as follows: 1. Sale of Bonds; Purpose 1.01. The proposal of Raymond James & Associates, Inc. (the Purchaser ") to purchase the Bonds (or individually, a "Bond ") in accordance with the terms established for the Bonds, at the rates of interest hereinafter set forth, and to pay therefor the sum of $1,501,272.05, plus interest accrued to the date of delivery of the Bonds, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted, and the Bonds are hereby awarded to said Purchaser. 1.02. The Bonds shall be titled "General Obligation Improvement Bonds, Series 2013A ", shall be dated June 1, 2013, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The City assumes no obligation for the assignment or printing of CUSIP numbers on the Bonds or for the correctness of any CUSIP numbers printed thereon. The City will permit such numbers to be printed on the Bonds at the expense of the Purchaser, provided, that the City shall not be responsible for any delay in delivery of the Bonds occasioned thereby. The Bonds shall be numbered from R -1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations "). The Bonds shall mature on February 1 in the years and amounts as follows: Year Amount Year Amount 2020 $50,000 2025 $320,000 2021 $150,000 2027 $335,000 2022 $155,000 2029 $320,000 2023 $155,000 1.03. The Bonds shall provide funds to finance the cost of constructing the Project. 1.04. The Bonds shall bear interest payable semiannually on February 1 and August 1 of each year (each, an "Interest Payment Date ") commencing on February 1, 2014, calculated on the basis of a 360 -day year of twelve 30 -day months and will be rounded pursuant to rules of the Municipal Securities Rulemaking Board, at the respective rates per annum set forth opposite the maturity years as follows: Year Rate Year Rate 2