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I ES.OL.I)TION NO. 2015 - 07 <br />�l. <br />A. RESOLUTION AWARDING T11.T SALT OF GENERAL <br />01I3LTGATION "FUNDING BONDS.. SERIES 2015A, 1-4 THE <br />ORIGINA.I, AGGREGATE PRENCIPAI, AMOUNT OF S ; <br />FIXINk'r THEIR FORM AND SPECIFICATIO^S;..D1RFtCTtN(; <br />THEIR EXECUTION AND DELIVERY; PROVIDING FOR <br />THEIR PAYMENT; .PROVIDING FOR THE ESCROWING AND <br />INVESTMENT OF T.H.F PROCEEDS THEREOF; AND <br />PROVIDING F•OR THE REORVIPTION OF BOINDS REFUNDED <br />THEREBY <br />BE IT RESOLVED By the C: it,y t :nuncll of f0 .C-ity .of Gem Lalcc;� Ratnsey C (Y ty, •Mi0 463 W <br />(the ­City"') as follows: <br />S,t%Ci.lOil I .• Fillri i_i1Y;. ti.:�lc c?}� Ir�ntl.. <br />Bac�rourtcl. It is Hereby determined that: <br />(a) Pursuant to Minnesota 5tmules, Chapter 475, as amended. (the'!Pict"), the Czt�' <br />issued General Obligation Capital improvement Plan Bonds, Series 20117A (tic "Series 2007A. <br />Bonds" or the `"Refunded Bonds"), dated June 20, 2007. in the original aggregate principal <br />amount of ` 950, .00; the Proceeds cat' which were used to alliance certain capital impro�etxtents <br />y.. <br />under an aj�I rr�vc.cl capita! improvenieni plan (tile "M07 ProjectC.'); and <br />(b) T11C City is. autiiorired by Minnesota Statutes, Section 475:67, subdivision 1..3. to. <br />r: issuand. soil 1t:s. general. obligation bonds W retirttd outstanding bonds whgp determined .by. tlae. <br />City Council t6 be necessary and desirable. <br />(c) The City Council finds it - iicc:cssar}.? aiid expedient to the sound. financial <br />nianaaernent of t:l.le- affairs of' the City that the (,ity. issue its General Obligation Refunding Bonds, <br />Ser.ics ' 015A (tlie "Bonds".), in the original ag,,I-e.gate principal ilmount of S , to refund <br />in advance of .maturity and at their redemption date the 2017 through 2028 irtaturities Uf the <br />Refunded Bonds, curmNitly outstanding in the aggregate: la]-inc-pal amount of $745.000, orv.1 ich <br />'h7.30,000 will be called Ior ricdcnipticnt on 1=.61-uary 1. 7-016. <br />(d) The City is auttiori ed by, lWnnesOta Sttitutes. Section 47:5;60. ,ubdivi,iorl "(5) to <br />riegotiate the sale. of the Bonds, since the. Bonds wiII bt:.kAied as.crossc:vu rc:futiding ohligati0rl <br />referred to. in Minncsot:a Statutes. Section 47.5.67, subdivision 13. 'Plte rcti011s o('tlre (::its staff <br />and linallcial advisors in negot.iat.itig the sale .of the [3ct.nds are ratified and ccinfrmed 'n all <br />aspects. <br />I.U2. Awar. to .the l'urcftasM_and_fnterest Rat . The proppsO• of. <br />__ (tile "Purchaser") tb purchase the••I�onds of the City is deWt•inined to be a, <br />reasottahle offer and is accepted; the prupt7stiI being. to purchase rile I3andls price of $ <br />amount. of plus originai issue. pretZiittni Of ti_ iess twderariter's discount of <br />_ J. plusaccrued interest to elate of delive i3,; if n6y-. fcu• Bonds burring interest as foitows: <br />4e;QA$p:1 frill' C.iESK 12 2 <br />