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The council then proceeded to consider and discuss the <br /> bids, after which Member introduced the <br /> following resolution and moved its adoption* <br /> RESOLUTION:, <br /> RESOLUTION ACCEPTING BID ON <br /> SALE of $21,5001000 GENERAL OBLIGATION IMPROVEMENT <br /> BONDS, SERIES 25, PROVIDING <br /> FOR THEIR ISSUANCE, AND PLEDGING FOR THE <br /> SECURITY THEREOF SPECIAL ASSESSMENTS, AND <br /> LEVYING A TAX FOR THE PAYMENT THEREOF <br /> A, WHEREAS, the City council of the City has heretofore <br /> determined and declared that it is necessary and expedient <br /> to issue $2 , 500, 000 General obligation Improvement Bonds, <br /> Series 25 (the "Bonds") of the City, pursuant to Minnesota <br /> Statutes, chapters 429 and 4 75, to finance the construction <br /> of various improvements within the City (the <br /> "Improvements") ; and <br /> B. WHEREAS, the Improvements and all their components have <br /> been ordered prior to the date hereof, after a hearing <br /> thereon for which notice was given describing the <br /> Improvements or all their components by general nature, <br /> estimated cost, and area to be assessed; and <br /> C, WHEREAS, it is in the best interests of the city that <br /> the Bonds be issued in book--entry form as hereinafter <br /> provided and <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br /> City of Roseville, Minnesota, as follows <br /> 1*- The bid of _ <br /> (the "Purchaser") , to purchase the Bonds <br /> of the City (or individually, a "Bond") , in accordance <br /> with the official Terms of Bona Sale, at the rates of <br /> interest hereinafter set forth, and to pad therefor the <br /> sum of , plus interest accrued to <br /> settlement, is hereby found, determined and declared to <br /> be the most favorable bid received and is hereby <br /> accepted and the Bonds are hereby awarded to said <br /> bidder. The city Manager is directed to retain the <br /> deposit of said bidder and to forthwith return to the <br /> unsuccessful bidders their good faith checks or drafts <br /> 2 , Bond Terms. <br /> (a) Title_; original Issue Date; Denominat ions <br /> Maturities.. The Bonds shall be titled "General <br /> obligation Improvement Bonds, Series 2511 , shall be <br /> dated February 16, 1999 , as the date of original <br /> issue and shall be issued forthwith on or after <br /> 1006049.1 2 <br />