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CC_Minutes_2011_1212
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Roseville City Council
Document Type
Council Minutes
Meeting Date
12/12/2011
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D. WHEREAS,the City has retained Springsted Incorporated("Springsted") as its <br /> independent financial advisor for the sale of the Bonds and was therefore authorized to sell the <br /> Bonds by private negotiation in accordance with Minnesota Statutes, Section 475.60, <br /> Subdivision 2(9); and <br /> E. WHEREAS, it is in the best interests of the City that the Bonds be issued in book- <br /> 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 Bonds in accordance with the Terms of <br /> Proposal, at the rates of interest hereinafter set forth, and to pay therefor the sum of <br /> $ plus interest accrued to settlement, is hereby found, determined and <br /> declared to be the most favorable proposal received and is hereby accepted, and the Bonds are <br /> hereby awarded to the Purchaser. The Manager is directed to retain the deposit of the Purchaser <br /> and to forthwith return to the unsuccessful bidders any good faith checks or drafts. <br /> 2. Bond Terms. <br /> (a) Original Issue Date; Denominations; Maturities and Term Bond Option. The <br /> Bonds shall be dated December 1, 2011, as the date of original issue, be issued forthwith on or <br /> after such date in fully registered form, be numbered from R-1 upward in the denomination of <br /> $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized <br /> Denominations") and shall mature on March 1 in the years and amounts as follows: <br /> Year Amount Year Amount <br /> 2014 $ 2022 $ <br /> 2015 2023 <br /> 2016 2024 <br /> 2017 2025 <br /> 2018 2026 <br /> 2019 2027 <br /> 2020 2028 <br /> 2021 <br /> As may be requested by the Purchaser, one or more term Bonds may be issued having <br /> mandatory sinking fund redemption and final maturity amounts conforming to the foregoing <br /> principal repayment schedule, and corresponding additions may be made to the provisions of the <br /> applicable Bond(s). <br /> (b) Book Entry Only System. The Depository Trust Company, a limited purpose <br /> trust company organized under the laws of the State of New York or any of its successors or its <br /> successors to its functions hereunder(the "Depository") will act as securities depository for the <br /> Bonds, and to this end: <br /> 2 <br /> 4359970v1 <br />
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