2004-05-26 WS & CC Meeting - Laserfiche WebLink

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RESOLUTION NO. ///-/v:1 A RESOLUTION AWARDING THE SALE OF $2,200,000. GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2004B FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING 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 (purchaser) to purchase $2,200,000 General Obligation Improvement Bonds, Series 2004B (Bonds) of the City described in the Terms of Proposal thereof is hereby found and determined to be a reasonable offer and is hereby accepted, the proposal being to purchase the Bonds at a price of $ . plus accrued interest to date of delivery, for Bonds bearing interest as follows: Year of Maturity Interest Rate Year of Maturitv Interest Rate 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Net interest cost: 1.02. The sum of $ being the amount proposed by the Purchaser in excess of $2,161,500 will be credited to the Debt Service Fund hereinafter created. The City Administrator is directed to retain 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 City Administrator 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 principal amount of $2,200,000, originally dated June 1,2004, 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 I in the years and amounts as follows: SJB-24800Ovl CE155-21