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RESOLUTION NO. i~)j.~ i:~() A RESOLUTION AWARDING THE SALE OF $990,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 2001 FIXING THEIR FORM AND SPECIFICATIONS; DIRECTIN G THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT BE IT RESOLVED By the City Council of the City of Centerville, Anoka County, Minnesota (City) as follows: Section 1. Sale of Bonds. 1.01. The proposal of United Bankers Bank (Purchaser) to purchase the Bonds of the City described in the Terms of Offering thereof is hereby found and determined to be the highest and best proposal received pursuant to duly advertised notice of sale and is hereby accepted, the proposal being to purchase the Bonds at a price of $976~140.00 plus accrued interest to date of delivery, for Bonds bearing interest as follows: Year of Maturity 2004 2005 2006 2007 2008 Interest Rate 2.90% 3.20 . 3.50 3.65 3.85 Year of Maturity 2009 2010 2011 2012 2013 Interest Rate 3.95% 4.10 4.20 4.35 4.45 Net interest cost: 4.26% 1.02. The sum of $-0.00- being the amount proposed by the Purchaser in excess of $976,140 will be credited to the Debt Service Fund hereinafter created. The City Clerk- Treasurer is directed to deposit the good faith check of the Purchaser, pending completion of the sale of the Bonds, and to return the good faith checks of the unsuccessful proposers forthwith. The Mayor and Clerk-Treasurer are directed to execute a contract with the Purchaser on 'behalf of the City. 1.03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes, Chapter 429 (Act) in the total pr~ncipal amount of $990,000 originally dated November 1, 2001, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-l, upward, bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as follows: SJB-202938v2 CE155-17