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<br />.06-Z4~99 17:11 <br /> <br />From-KENNEDY & GRAVEN <br /> <br />+E1Z337Q310 <br /> <br />T-97Z P.~3/C5 r-4T4 <br /> <br />SOURCES OF FONDS <br /> <br />Par Amount of Bonds <br /> <br />$~5.OCYJ.OO <br /> <br />Tow Sources <br /> <br />$645,ooJ.00 <br /> <br />USES OF FUNDs <br /> <br />toul Underwriter's Discer-::l.Q!' (2.00%) <br />COSts of Issuance <br />Deposit to Debt Service ?-..=.s.e:-;oe Fund CDSRF) <br />Deposh to Project ConsL~~,i.::::. Fund <br />Rounding Amoum <br /> <br />S 12,9'00.00 <br />30.60J.08 <br />57 ~4jj.50 <br />54; ,600.00 <br />(-. --- ~O) <br />,,~ ,:J J J .;) <br /> <br />Total Uses <br /> <br />$6-:;5.000.0:) <br /> <br />(c) Minnesota Starnp-~ S~Lion 471t (Act) 3.1.fthorizcs !he CiTy 10: a) issue and <br />sell revenue bonds to provide f~-:..s :c::: me COTlSnuction and equipping of the ?roj::r as a <br />recreatioD.i:1l faLiliry, which bonds ~ '" y be secured by a pledge of all income ;:me ZCV:ll11=.$ <br />derived from me Project as a firsr ;:~g= on rhe gross revenues Thereof, and b) pr;::\1~ iil i!S <br />budget each year for any anticipar~: '"'''"Sci:ncy in the revenues available for o:?=~:i.o::J. and <br />maintenance of the ProjecL <br /> <br />2. Springsted fucorpor-.ued (Spffi- ';:y,,"':) is auIhorized and direcIed to negoti~ ~ of Ibe <br />Bonds in accorchmce wiTh the Terms and C(1~~rions set fonh in Exhibir A ~.ua:;hed b::-tw. The <br />Cil}' COuncil will meer at 4:30 o'clock P.b!... 02: Y;.1esday, July 13, 1999, W ~~ider pm?:l~ on. tile <br />Bonds and rake any other appropriate 2!..L1CS: -.,:;.'i"":-. respect to the Bonds. <br /> <br />The marion for the adoption c ~ foregOing resOlution was duly s.e::':Q~d by <br /> <br />COlln'-ilmember Hoffman - and upa=. ~,)!.= reing taken thereon the follOwing m"'-:;.be.:."3 voted <br /> <br />in favor of the motion: <br />Benke, Hoffman, Larson, Samuelson <br /> <br />and !he fOllOwing voted against: <br /> <br />None <br /> <br />whereupon the resolution was declared dui y :;)'0' ~ 5:--j and adopted. <br /> <br />eJE-165006 <br />m::L3o-:tS2 <br />