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<br /> , <br /> , '. <br /> 11 . .. .. <br /> "J '. -, <br /> ... 1338 <br /> RESOLUTION NO. <br /> STATE OF MINNESOTA <br /> COUNTY OF RAMSEY <br /> CITY OF NEW BRIGHTON <br /> Extract of Minutes of Meeting of the <br /> City Council of the City of New Brighton, <br /> Ramsey County, Minnesota <br /> Pursuant to due call and notice thereof, a regular <br /> meeting of the City Council of the City of New Brighton, Minnesota, <br /> was duly held at the City Hall in said City, on Tuesday, April 9, <br /> 1974, at 8:00 o'clock P.M. <br /> The following members were present: <br /> Bromander Fisher <br /> Anderson Rebelein <br /> Eagon <br /> and the following were absent: None <br /> * * * * * * * * * <br /> Councilman Fisher introduced the following <br /> resolution and moved its adoption: <br /> RESOLUTION TO ISSUE AND SELL $390,000 <br /> PERMANENT IMPROVEMENT BONDS OF 1974 <br /> BE IT RESOLVED by the City Council of the City of New <br /> Brighton, Minnesota, as follows: <br /> 1. The City Council deems it necessary and expedient <br /> to issue and sell $390,000 general obligation negotiable coupon <br /> Permanent Improvement Bonds of 1974 to provide permanent financing <br /> for City Improvement Nos. 71-3, 71-4, 71-5, 71-11, 7l-16, 71-l8, <br /> and 7l-l9, of the City and to refund the Temporary Improvement <br /> Bonds of 1971, dated June I, 1971, maturing June 1, 1974, to the <br /> extent that special assessments on account of such improvements <br /> already collected are not sufficient for such purposes, said <br /> bonds to be dated May 1, 1974, to bear interest payable February I, <br /> 1975 and semiannually thereafter on February 1 and August 1 in <br /> each year at the rate or rates designated by the successful bidder, <br /> and to mature serially on February 1 in the years and amounts as <br /> follows: <br /> $20,000 in 1975 to 1979, <br /> $25,000 in 1980 to 1983, <br /> $30,000 in 1984 to 1987, and <br /> $35,000 in 1988 and 1989, all years inclusive, <br /> all bonds maturing in the years 1986 to 1989 being subject to <br /> redemption at the option of the City and in inverse numerical <br /> order on February I, 1985 and any interest payment date there- <br /> after at par, accrued interest and a premium of 1.00% of the <br /> principal amount of bonds called for prior redemption. The City <br /> Council hereby finds that each such Improvement has been duly <br /> authorized and contracted for, that special assessments have been <br />