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The Council then proceeded to consider and discuss the proposals, after which Member
<br />introduced the following resolution and moved its adoption.
<br />RESOLUTION ACCEPTING PROPOSAL ON THE COMPETITIVE NEGOTIATED SALE
<br />P $2,550,,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF
<br />INDEBTEDNESS, SERIES 2008A,, PROVIDING FOR THEIR. ISSUA:INCE AND LEVYING A
<br />TAX FOR THE PAYMENT THEREOF
<br />A. WHEREAS, the City Council of the City of Roseville, Minnesota the "City' )�,
<br />has heretofore determined and declared that it is necessary and expedient to issue ,550,000
<br />General Obligation Equipment Certificates of Indebtedness, Series 2008A of the City the
<br />"Certificates" or, individually, a "Certificate" �, pursuant to Minnesota Statutes, Chapter 475 and
<br />Minnesota Statutes, Section 412.301, to finance the acquisition of capital equipment for the City
<br />(the "Project"),* and
<br />B. WHEREAS, each item of equipment to be financed by the Certificates has an
<br />expected useful life at least as long as the term of the Certificates; and
<br />C. WHEREAS, the principal amount of the Certificates does not exceed one - quarter
<br />of one percent (0.25%), of the market value of the taxable property in the City ($,4,522,375,200
<br />times 0.25% is 11,305,938); and
<br />D. WHEREAS, it is in the best interests of the City that the Certificates be issued in
<br />boob -entry form as hereinafter provided; and
<br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville,
<br />Minnesota, as follows.-
<br />1. Acceptance of Proposal. The proposal of
<br />(the "Purchaser"), to purchase the Certificates in accordance with the Terms of Proposal, at the
<br />rates of interest hereinafter set forth, and to pay therefore the sum. of , plus
<br />accrued interest to settlement, is hereby found, determined and declared to be the most favorable
<br />proposal received and is hereby accepted, and the Bonds are hereby awarded to said proposal
<br />maker. The City Manager is directed to retain the deposit of said proposal maker and to
<br />forthwith return to the unsuccessful bidders their good faith cheeps and drafts.
<br />2. Certificate Terms.
<br />(a), Original Issue Date; Denominations*, Maturities. The Certificates shall be dated
<br />September 15, 2008, as the date of original issue, shall be issued forthwith on or after such date
<br />in fully registered form., shall be numbered from R- I upward in the denomination of $5,000 each
<br />or in any integral multiple thereof of a single maturity (the "Authorized Denominations"), and
<br />shall mature on March I in the years and amounts as follows.-
<br />2
<br />22i4122v1.
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