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.... .. , f " Councilman Fisber introduced the following written resolution and moved its adoption: RESOLUTION NO. 1340 RESOLUTION AWARDING SALE OF $390,000 PERMANENT IMPROVEMENT BONDS OF 1974 AND FIXING FORM AND TERMS THEREOF BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota, as follows: l. All action heretofore taken in connection with the issuance and sale of $390,000 Permanent Improvement Bonds of 1974 is hereby ratified and confirmed, and the sale thereof is awarded to Northwestern l'Sationa1 Bank of 1~1inneapo1is on its bid to purchase bonds bearing interest as follows: 1971 to 1980 maturities at 5.00%, 1981 to 1983 maturities at 5.25%, 1984 to 1986 maturities at 5.50%, 1987 maturities at 5.60%, 1988 maturities at 5.70%, and 1989 maturities at 5.75% at a price of $385,123.10 and accrued interest. Said bid is hereby found to be the best bid. The Mayor and City Manager are hereby authorized and directed to execute a contract with the successful bidder and the Treasurer to return the good faith checks of all unsuccessful bidders forthwith. The bonds shall be numbered serially from 1 upwards in chronological order of maturity dates and shall be in the following denomination(s): Serial Numbers Denomination 1 through 7 a $5,000.00 2. The City shall forthwith issue its Permanent Improve- ment Bonds of 1974, in the aggregate principal amount of $390,000, to be dated May 1, 1974, to bear interest as above set forth, payable February 1, 1975 and semiannually thereafter on August 1 and February 1 in each year, and to mature serially on February 1 in the years and amounts as follows: $20,000 in 1975 to 1979, $25,000 in 1980 to 1983, $30,000 in 1984 to 1987, and $35,000 in 1988 and 1989, all years inclusive,