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9A <br /> i~ <br /> <br /> <br /> 4i <br /> <br /> RESOLUTION NO. 07-047 <br /> <br /> <br /> i A RESOLUTION AWARDING THE SALE OF $455,000 <br /> GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2007A <br /> FIXING THEIR FORM AND SPECIFICATIONS; <br /> DIRECTING THEIR EXECUTION AND DELIVERY; <br /> AND PROVIDING, FOR THEIR PAYMENT <br /> <br /> PE IT RESOLVED By the City Council of the City of New Brighton, Ramsey County, <br /> Minne~pta (the "City") as follows: <br /> <br /> ection 1. Sale of Bonds. <br /> 11.01. Award to the Purchaser and Interest Rates. The proposal of <br /> (the "Purchaser") to purchase $455,000 General <br /> <br /> Obligation 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 Maturi Rate <br /> <br /> 2009 2015 <br /> 2010 2016 <br /> dK <br /> 2011 2017 <br /> 2012 2018 <br /> Pp 2013 2019 <br /> 2014 <br /> True io, erest cost: <br /> <br /> X1.02. Purchase Contract. The sum of $ being the amount proposed by the <br /> Purch der 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 al advisor. The City Finance Director is directed to retain the good faith check of the <br /> a <br /> Purch er, pending completion of the sale of the Bonds, and to return the good faith checks of <br /> the ccessful proposers. The Mayor and City Manager are directed to execute a contract with <br /> the Puhaser on behalf of the City. <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 l <br /> of $4 ,000, originally dated June 1, 2007, in the denomination of $5,000 each or any integral j <br /> multi l thereof, numbered No. R-1, upward, bearing interest as above set forth, and maturing E <br /> seriall on February 1 in the years and amounts as follows: <br /> <br /> <br /> 310082v! ~JB NE136-215 2 <br /> <br /> , <br />