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<br />Page 4 - May 22, 2007 New Brighton Council Minutes
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<br />4 Ayes - 0 Nays, Motion Carried
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<br />2. Resolution Awarding the Sale of $14,985,000 General Obligation Tax
<br />Increment Bonds, Series 2007B; Fixing Their Form and
<br />Specifications; Directing Their Execution and Delivery; and Providing
<br />for Their Payment. ReJXlrt No. 07-120. Resolution No. 07-048.
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<br />The second item, (series 2007B) are issued to finance the prepayment ofTIF
<br />notes issued in 2006 for the acquisition of Midwest Asphalt property-and
<br />business. These bonds are structured to be repaid annually frornii;:i
<br />2013-2023. ........ ...
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<br />Motion by Mayor Larson seconded by Councilmember Burg to w~i~e the ;~i~!~.~and
<br />adopt the resolution awarding the sale of $14,985,000 gener~I()~Jigation tax inCt~~~llt
<br />bonds, series 2007b; fixing their form and speciflcations;<<.lirecting their executionll~<<.l..
<br />delivery; and providing for their payment. . .
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<br />4 Ayes ~ 0 Nays, Motion Carried
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<br />3. Resolution Declaring the OfficiarII1tet1t9t.~he
<br />Reimburse Certain ExpendituresJrom Utl'ld.iSlftle
<br />07-121. Resolution No. 07-049.. ..... ...
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<br />Director of Finance, Dall.i.~~6f~.ex.Plainedth~tl~~;;;~~;~~~~ea in the
<br />Northwest Quadrantt~~ti:was pur9hased witp..~ax increment; is now being
<br />sold to the redevel?l?~~i;iIn order fQf;the mone}l"~? remain tax exempt, the
<br />City is required to aiS9Jpse its int~n.c;ied use of tll.~proceeds.
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<br />Motion b~,~~~.~~~;~~~~~o~:~:;~~~~~i~~:~ber Doffing to approve the
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<br />resoluti~~.~eclaringtH~g~Q.cial iiI.!cll.t of the City to reimburse certain expenditures
<br />fromJA"nqii;sale proceeds.i,.,. .
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<br />4 Ayes - cl~~Y$,Motion Carrie~;;
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<br />4. Resolution A.~~B-~j:tig Resolution 06-139 Accepting Proposal on Sale
<br />of $20,450,000. Qeneral Obligation Tax Increment Bonds, Series
<br />2006A and Providing for their Issuance. Report No. 07-122.
<br />Resolution No. 07-050.
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<br />Director of Finance, Dan Maiers gave a brief explanation of the item.
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<br />2.Resolution Awarding t
<br />Sale of$15,100,000
<br />General Obligation Tax
<br />Increment Bonds, Seriel
<br />2007B; Fixing Their For
<br />and Specifications;
<br />Directing Their Execu tic
<br />and Delivery; and
<br />Providing for Their
<br />Payment.
<br />Report No. 07-120.
<br />Resolution No. 07-048.
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<br />3.Resolution Declaring 1
<br />Official Intent of the Cit:
<br />New Brighton to
<br />Reimburse Certain
<br />Expenditures from Lane
<br />Sale Proceeds.
<br />Report No. 07-121.
<br />Resolution No. 07-049.
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<br />4.Resolution Amending
<br />Resolution 06-139
<br />Accepting Proposal on S
<br />of $20,450,000 General
<br />Obligation Tax Incremel
<br />Bonds, Series 2006A an
<br />Providing for their
<br />Issuance.
<br />Report No. 07-122.
<br />Resolution No. 07-050.
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