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After due consideration of the bids, Member Goedeke introduced the following resolution and moved its adoption: then RESOLUTION NO. 9177 A RESOLUTION AWARDING THE SALE OF $6,500,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1995; FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT BE IT RESOLVED By the City Council of the City of Rosevil1e, Ramsey County, Minnesota (City) as follows: Section 1. Sale of Bonds. 1.01. The bid of Dain Bosworth, Inc. (Purchaser) to purchase $6,500,000 General Obligation Tax Increment Bonds, Series 1995 (Bonds) of the City described in the Terms of Offering thereof is found and determined to be the highest and best bid received pursuant to duly advertised notice of sale and is hereby accepted, the bid being to purchase the Bonds at a price of $ 6 ,432,125.70 plus accrued interest to date of delivery, for Bonds bearing interest as follows: Year of Maturity Interest Rate Year of Maturity Interest Rate 1996 1997 1998 1999 2000 2001 2002 2003 4.30 4.40 4.50 4.60 4.70 4.80 4.90 5.00 2004 2005 2006 2007 2008 2009 2010 5.10 5.125 5.25 5.25 5.375 5.375 5.50 Net effective interest rate: 5.32233% True interest cost: 5.340044% 1.02. The sum of $29,125.70 being the amount bid by the Purchaser in excess of $6,403,000 will be credited to the Debt Service Fund hereinafter created. The City Manager is directed to deposit the good faith check of the Purchaser, pending completion of the sale of the Bonds, and to return the good faith checks of the unsuccessful bidders forthwith. The Mayor and City Manager are directed to execute a contract with the Purchaser on behalf of the City. 1.03. The City will forthwith issue and sell the Bonds in the total principal amount of $6,500,000, originally dated May 15, 1995, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-1, upward, bearing interest DJJt87126 JVJ200-14