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<br /> ! . <br /> , <br /> . <br /> Councilman Eagon introduced the following <br /> written resolution and moved its adoption: <br /> RESOLUTION NO. 1512 <br /> RESOLUTION AWARDING SALE OF $423,000 PERMANENT <br /> IMPROVEMENT BONDS OF 1975 FIXING FORM AND TERMS THEREOF <br /> AND PROVIDING FUNDS FOR PAYMENT THEREOF <br /> BE IT RESOLVED by the City Council of the City of New <br /> Brighton, Minnesota, as follows: <br /> l. All action heretofore taken in connection with the <br /> issuance and sale of $423,000 Permanent Improvement Bonds of 1975 <br /> is hereby ratifiedtand confirm~d, ani the sale thereof is~arded <br /> to e."'INo..ill IoU". * f....,.... N. · IS... .r M; ,..,PI.... tellC <br /> on its bid to purchase bonds bearing interest as follows: It <br /> 1976-1979 @ 4.75% <br /> 1980-1982 @l 5.30% <br /> 1983-1985 @ 5.75% <br /> 1986- @ 5.90% <br /> 1987-1988 @l 6.00% <br /> 1989-l990 @ 6.10% <br /> at a price of $417,600.60 and accrued interest. Said bid is hereby <br /> found to be the best bid. The Mayor and City Manager are hereby <br /> authorized and directed to execute a contract with the successful <br /> bidder and the Treasurer to return the good faith checks of all <br /> unsuccessful bidders forthwith. The bonds shall be numbered <br /> serially from 1 upwards in chronological order of maturity dates <br /> and shall be in the following denomination(s): <br /> Serial Numbers Denomination <br /> 1 through 3 l,OOO.OO <br /> 4 through 87 5,000.00 <br /> 2. The City shall forthwith issue its Permanent Improve- <br /> ment Bonds of 1975, in the aggregate principal amount of $423,000, <br /> to be dated April 1, 1975, to bear interest as above set forth, <br /> payable October 1, 1975 and semiannually thereafter on April 1 and <br /> October 1 in each year, and to mature serially on April 1 in the <br /> years and amounts as follows: <br /> $23,000 in 1976, <br /> $25,000 in 1977 to 1980, and <br /> $30,000 in 1981 to 1990, all years inclusive, <br />