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f . " . . .. '" After due consideration of all bids, Councilman Eagon introduced the following resolution and moved its adoption: RESOLUTION NO. 1523 RESOLUTION AWARDING SALE OF $1,035,000 TEMPORARY IMPROVEMENT . BONDS OF 1975 AND $1,220,000 TEMPORARY WATER IMPROVEMENT BONDS OF 1975 BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota, as follows: 1. The bid of BaneNorthwest and First Rat. Bank of Minneapolis to purchase the $1,035,000 Temporary Improvement Bonds of 1975 and the $1,220,000 Temporary Water Improvement Bonds of 1975 as advertised for sale is hereby found and determined to be the lowest and best bid for said series, and shall be and is hereby accepted, said bid being to purchase bonds bearing interest as follows: 4.70% at a price of $2,234,710.00 for both series plus accrued interest. 2. The Mayor and City Manager are hereby authorized and directed to execute a contract with the successful bidder and the Treasurer shall return the good faith checks of all~unsuccessful bidders forthwith. 3. The City Clerk is authorized and directed to cause printed bonds to be prepared substantially in the form of said bonds presented to this meeting. 4. The City Council shall meet on March 25\ , 1975 to adopt final resolutions relating' to the Te~porary Improvement Bonds of 1975 and the Temporary Water Improvement Bonds of 1975, fixing the form and specifications thereof, providing for their execution and delivery and creating funds for their payment. The motion for the adoption of the foregoing resolution was duly seconded by Councilman Anderson and upon vote being taken thereon the following voted in favor thereof: Bromander, Anderson, Eagon, Fisher, Rebelein and the following voted against the same: Rone whereupon said resolution was declared duly passed and adopted.