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<br />. , <br /> :..t- <br />. <br /> 1. All action heretofore taken in connection with the <br /> issuance and sale of $1,035,000 Temporary Improvement Bonds of <br /> 1975 is hereby ratified and confirmed, including the sale thereof <br /> to BancNorthwest and First National Bank of Minneapolis <br /> on its bid to purchase bonds bearing interest as follows: <br /> 4.70% <br /> at a price of $ 1,025,687.00 plus accrued interest. Said bid is <br /> hereby found to be the best bid, providing an average annual net <br /> interest cost not exceeding 7% on $1,016,000 to maturity. The <br /> bonds shall be numbered serially from 1 upwards and shall be in <br /> the following denomination(s): <br /> Serial Numbers Denomination <br /> 1 - 207 $5,000.00 <br /> 2. Pursuant to Section 429.091, Subdivision 3, Minnesota <br /> Statutes, as amended, the City shall forthwith issue i~s Temporary <br /> Improvement Bonds of 1975, in an aggregate principal amount of <br /> $1,035,000, dated April 1, 1975, to bear interest as above set <br /> forth, payable October 1, 1975 and semiannually thereafter on <br /> April 1 and October 1 until maturity, and to mature on April 1, <br /> 1978, all bonds being subject to redemption and prior payment at <br />