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The Council then proceeded to consider such bids. After the bids had been considered and discussed, member oy~ introduced the following resolution and movec J_ s adoption: . ..aoluti.oa h. 5611 RESOLUTION ACCEPTING BID ON SALE OF $2,950,000 GENERAL IMPROVEMEWr BONDS, SERIES 5 PROVIDING FOR THEIH ISSUANCE AND LEVYING A TAX FOR THE PAYMENT THEREOF BE IT RESOLVED by the Council of the Village of Roseville, Minnesota, as follows: ~ Firat ..t1oaal BaRk of St. 1. That the bid of Paul aacI A8soc1ate~ to purchase $2,950,000 General Improvement Bonds, Serles j of the Village, in accordance with the notice of bond sale, at the rates of interest hereinafter set forth, and to pay therefor the sum of $2,896,4S7.$Plus a premium of 0.00 ) is hereby found, determined and declared to be the most favor- able bid received, and is hereby accepted and said bonds are hereby awarded to said bidder. The Village Manager is direct- ed to retain the deposit of said bidder and to forthwith return the good faith checks or drafts to the unsuccessful bidders. Said bonds shall be payable as to principal and interest at The Firat llatlOD&l Baak of Sai.nt Paul. 1D St. Paal, Hi_sot. . 2. The $2,950,000 negotiable coupon general obliga- tion bonds of the Village shall be dated July 1, 1971 and shall be issued forthvfi th. Said bonds shall be 590 in number and numbered from 1 to 590, both inclusive, in the denomination of $5,000 each. Said bonds shall mature on July 1 in the years and amounts as follows: flOO,OOO in the year 1972, and $150,000 in each of the years 1973 to 1991, both inclusive. 3. Said bonds shall provide funds for the construc- tion of various improvements hereinafter set forth in the Vil- lage. The total cost of said improvements, including the cost of construction under the terms of the lowest bid received for each phase thereof, engineering, legal and other professional charges, publ:icat:Lon and printing costs, interest accruing on money borrowed for the improvements before the collection of special asse~;~3mcmt;:3 levied therefor, and all other costs ncccs- ~"arLLy :inC\Jl'rcd and to be; j ncurred i'rom the inception to the complctJ on of the improvements, i~; e~~tiJnatecl to be; at ll~af;t c~qual Lo tlw amounL oJ' the bond;; herein authol'i:~cd. l")