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RE OL L TIO , <br /> RESOLUTION AUTHORIZING THE ISSLA NCE AND SALE OF $147.457 <br /> EQUIPMENT CERTIFICATES OF I DEBTEDNE (SEIZES 1 998) <br /> BE IT RESOLVED By the City- Council of the City- of Roseville. Ramsey County. <br /> Minnesota (the "City") as follows: <br /> Section 1. Background; Findings <br /> 1.01. The City is authorized by Minnesota Statutes, Section 412.301 (the "Act") to issue <br /> and sell its general obligation equipment certificates of indebtedness(the "Certificates") to finance <br /> the purchase of items of capital equipment having a useful life at least as long as the term of the <br /> Certificates. The Act perrnits the City Council to sell the Certificates on such terms and <br /> conditions as found desirable by the City Council. <br /> 1.02. It is found and determined that the following items of capital equipment (the <br /> "Equipment") have been or will be purchased by the City in the fiscal year 1998: <br /> Police vehicles 14 7,45 i <br /> 1.03. It is found and determined that it is in the best financial interests of the City that <br /> the purchase of the Equipment be financed by the issuance and sale of Certificates as provided <br /> by the Act. <br /> 1.04. The City will, therefore.,ore, issue and sell Certificates in the total principal amount <br /> of $147,457 to finance the Equipment costs <br /> 1.05. It is found and determined that there exists within Debt Service Fund 524 (the <br /> "Fund") adequate sums to purchase the Certificates hereby authorized. The City is authorized by <br /> Minnesota Statutes, Chapter 1I8A, to sell the Certificates to the Fund and to purchase the <br /> Certificates as an investment of the Fund. <br /> 1.06. It is found and determined that the principal amount of the Certificates to be issued <br /> and sold p ursu.ant to this Resolution does not exceed 0.25% of the market value of taxable <br /> property to the City. <br /> Section 2. Issuance and Sale of Certificates. <br /> 2.01. The Certificates will be issued by the City and purchased by the Fund. The <br /> Certificates will be in the form of a single typewritten Certificate and will mature, bear interest <br /> and be subject to redemption and prepayment as provided in the following form of Certificate: <br /> BMB13743-5 <br /> R <br />