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<br />,.r ..,. <br /> <br />After 4ue consideration of the proposals. Member <br /> <br />Pelton <br /> <br />then <br /> <br />introduced the follow1Dg resolution and moved its adoption: <br /> <br />A RESOLUTION AWARDING THE SALE OF $310.000 <br />GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1991A; <br />FIXING TREIR FORK AND SPECIFICATIONS; <br />DIRECTING TREIR EXECllTION AND DELIVERY; <br />AND PROVIDING FOR THEIR PAYMENT <br /> <br />BE IT RESOLVED By the City COUDcil of the City of Centerv111e. ADob <br />County,. KiDDesota (City) as follows: <br /> <br />SectioD 1. Sale of Bonds. <br /> <br />1.01. It is hereby determtaed that: <br /> <br /><a) the followiDg assessable public improvemeDts (the Improvements) <br />have been made, duly ordered or cODtracts lat for the <br />cODstructioD thereof, by the City pursuant to the provisioDS of <br />M1DDesota Statutes. Chapter 429 (Act); <br /> <br />Project Desi.nation , Descri~t1oD <br /> <br />Center 81lls II <br /> <br />CODstruction <br />CODt1Dlellcy <br />CoastructioD aDltaeeriDs <br />Teat1Da <br />AclmiDistratioD, lela1, bonding <br />Subtotal <br />Capitalized interest, 6 months <br />PUDds R..ded <br />Discount Allowaace (aD interest cost) <br />BOND ISSUE <br /> <br />$237 , 943 <br />23.800 <br />23,800 <br />4,000 <br />7.500 <br />$297,043 <br />9, 900 <br />$306.943 <br />3 , OS 7 <br />$310.000 <br /> <br />(b) it 18 Decessary and expedient to the sound f1Danc:Lal 1II8Dage1llent <br />of the affairs of the City to issue $310.000 General Obligation <br />Improvement Bonds. Series 1991A (Bonds) pursuant to the Act to <br />provide f1DaDC1Dg for the Improvements; <br /> <br />i <br />(c) to provide fiDanc1ng for the ImprovemeDts. the City will issue <br />and sell Bonds in the amount of $306,943. To provide in part the <br />additional interest required to market the Bonds at this time, <br />additional Bonds will be issued in the amount of $3.057. The <br />excess of the purechase price of the Bonds over the sum of <br />$306.943 .111 be credited to the debt service fund for hte Bonds <br />for the purpose of paying iDterest first COmiDg due on the <br />additional Bonds. <br />