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N <br /> i <br /> <br /> f <br /> <br /> <br /> RESOLUTION NO. 07-047 <br /> I <br /> <br /> A RESOLUTION AWARDING THE SALE OF $455,000 <br /> d GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2007A <br /> FIXING THEIR FORM AND SPECIFICATIONS; <br /> DIRECTING THEIR EXECUTION AND DELIVERY; <br /> z! <br /> AND PROVIDING FOR THEIR PAYMENT <br /> is <br /> PE IT RESOLVED By the City Council of the City of New Brighton, Ramsey County, <br /> Minn4pta (the "City") as follows: <br /> ,p <br /> ~ection 1. Sale of Bonds. <br /> I4 <br /> ' 1X1.01. Award to the Purchaser and Interest Rates. The proposal of <br /> I (the "Purchaser") to purchase $455,000 General <br /> Oblige on Improvement Bonds, Series 2007A (the "Bonds") of the City described in the Terms <br /> of Pr osal thereof is hereby found and determined to be a reasonable offer and is hereby <br /> accept .-I, the proposal being to purchase the Bonds at a price of $ plus accrued <br /> interest to date of delivery, for Bonds bearing interest as follows: <br /> Year of Interest Year of Interest <br /> Maturity Rate MM Rate <br /> <br /> 2009 2015 <br /> 2010 2016 <br /> 2011 2017 <br /> 2012 2018 <br /> 2013 2019 <br /> 2014 <br /> True i4erest cost: <br /> <br /> X1.02. Purchase Contract. The sum of $ being the amount proposed by the <br /> Purch er in excess of $447,038 shall be credited to the Debt Service Fund hereinafter created, <br /> or de sited in the Construction Fund under Section 4.01 hereof, as determined by the City's <br /> financ 1 advisor. The City Finance Director is directed to retain the good faith check of the <br /> Purchaser, pending completion of the sale of the Bonds, and to return the good faith checks of <br /> the u ccessful proposers. The Mayor and City Manager are directed to execute a contract with <br /> the P haler on behalf of the City. <br /> <br /> 11 <br /> 1.03. Terms and Principal Amounts of the Bonds. The City will forthwith issue and sell <br /> the B " ds pursuant to Minnesota Statutes, Chapter 429 (the "Act") in the total principal amount <br /> of $415,000, originally dated June 1, 2007, in the denomination of $5,000 each or any integral <br /> multi l thereof, numbered No. R-1, upward, bearing interest as above set forth, and maturing <br /> seriall on February 1 in the years and amounts as follows: <br /> 1i <br /> 310082v dSJBNE136-215 2 <br />