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<br />"I <br />,I <br /> <br />,J <br /> <br />)" ,.J, <br /> <br />-" <br /> <br />After due consideration of the proposals, Member Kim Me ere - S y k e s then introduced <br /> <br />e following resolution and moved its adoption: <br /> <br />RESOLUTION NO. 04-078 <br /> <br />A RESOLUTION AWARDING THE SALE OF $6,935,000 <br />GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 2004A; <br />FIXING THEIR FORM AND SPECIFICATIONS; <br />DIRECTING THEIR EXECUTION AND DELIVERY; <br />AND PROVIDING FOR THEIR PAYMENT <br /> <br />BE IT RESOLVED By the City Council of the City of New Brighton, Ramsey County, <br />innesota (City) as follows: <br /> <br /> <br />Sale of Bonds. <br /> <br />.01. The proposal of Harris Trust & Savings Bank (Purchaser) to purchase $6,935,000 General <br />bligation Tax Increment Bonds, Series 2004A (Bonds) of the City described in the Terms of <br />roposal thereof is found and determined to be a reasonable offer and is hereby accepted, the <br />roposal being to purchase the Bonds at a price of $6,968,844.98 plus accrued interest to date of <br />elivery, for Bonds bearing interest as follows: <br /> <br />Year of Interest Year of Interest <br />Maturity Rate Maturity Rate <br />2006 2.00% 2012 3.25% <br />2007 2.50% 2013 3.25% <br />2008 2.80% 2014 3.35% <br />2009 3.25% 2015 3.45% <br />2010 3.25% 2016 3.60% <br />2011 3.25% 2017 3.70% <br /> 3.1305% <br /> <br /> <br />1.02. The sum of $ being the amount proposed by the Purchaser in excess of $ <br />will be credited to the Debt Service Fund hereinafter created. The City Finance <br />irector is directed to retain the good faith check of the Purchaser, pending completion of the sale <br />of the Bonds, and to return the good faith checks of the unsuccessful proposers forthwith. The <br /> <br />SJ8-252 4vl <br />NEI36.J <br /> <br />" <br /> <br />II: <br />