res_6994 - Laserfiche WebLink

Home

The Council then proceeded to consider and discuss the bids, after which member ~l. introduced the following resolution and moved Its ~doption: a.aol\l~1oA tIo. "'4 RESOLUTION ACCEPTING BID ON SALE OF $2,415,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 10 PROVIDING FOR THEIR ISSUANCE AND LEVYING A TAX FOR THE PAYMENT THEREOF BE IT RESOLVED by the Council of the City of Roseville, Minnesota, as follows: 'fbe 1'1nt. ilIattaMl auk of saJ.Dt 1. The bid of Iau.1 ad ~tM to purchase $2,415,000 General Obligation Improvement Bonds, Series 10 of the City, in accordance with the notice of bond sale, at the rates of interest hereinafter set forth, and to pay therefor the sum of $ 2,Jn,771.50 is hereby found, determined and declared to be the most favorable bid received, and is hereby accepted and the bonds are hereby awarded to said bidder. The City Manager is directed to retain the deposit of said bidder and to forthwith return the good faith checks or drafts to the unsuccessful bidders. The bonds shall be payable as to principal and interest at ~ rinlt ..tioaal iaDk of ..bat JWal iD St.. PaW., JIUm1n~ , or any successor paying agent duly appointed by the City. 2. The $2,415,000 negotiable coupon general obliga- tion bonds of the City shall be dated September 1, 1980 and shall be issued forthwith. The bonds shall be .483 in number and numbered from 1 to 483, both inclusive, in the denomination of S5,000 each. The bonds shall mature serially, lowest numbers first, on September 1 in the years and amounts as follows: $100,000 in each of the years 1982 to 1984; $150,000 in each of the years 1985 to 1988; $130,000 in each of the years 1989 to 1991; and $125,000 in each of the years 1992 to 2000. All dates inclusive. 3. The bonds shall provide funds for the construction of various improvements in the City. The total cost of the improvements, which shall include all costs enumerated in Minnesota Statutes, Section 475.65, is estimated to be at least equal to the amount of the bonds herein authorized. Work on the improvements shall proceed with due diligence to completion.