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<br />" <br />" I <br /> <br />RESOLUTION NO.99-064 <br /> <br />A RESOLUTION AWARDING THE SAlE OF $3,725,000 <br />GENERAL OBUGATION IMPROVEMENT BONDS, SERIES 1999A <br />l <br />\ FIXING THEIR FORM AND SPECIFICATIONS; <br />DIRECTING THEIR EXECUTION MTI DEliVERY; <br />AND PROVIDING FOR THEIR PAYMENT <br /> <br />BE IT RESOLVED By the City Council of the City of New Brighton, Ramsey County, <br />Minnesota (City) as follows: <br /> <br />Section 1. <br /> <br />Sale of Bonds. <br /> <br />1.01. The proposal of (purchaser) to <br />purchase $3,725,000 General Obligation Improvement Bonds, Series 1999A (Bonds) of the City <br />described in the Terms of Proposal thereof is hereby found and detennined to be a reasonable <br />offer and is hereby accepted, the proposal being to purchase the Bonds at a price of $ <br />plus accrued interest to date of delivery, for Bonds bearing interest as follows: <br /> <br />Year of <br />Maturitv <br /> <br />Interest <br />Rate <br /> <br />Year of <br />Maturitv <br /> <br />Interest <br />Rate <br /> <br />2001 <br />2002 <br />2003 <br />2004 <br />2005 <br /> <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br /> <br />True interest cost: <br /> <br />1.02. The sum of $ being the amount proposed by the Purchaser in excess <br />of $3,687,750 will be credited to the Debt Service Fund hereinafter created. The City Finance <br />DirectodClerk is directed to deposit the good faith check of the Purchaser, pending completion of <br />the sale of the Bonds, and to return the good faith checks of the unsuccessful proposers forthwith. <br />The Mayor and City Finance Director/Clerk are directed to execute a contract with the Purchaser <br />on behalf of the City. <br /> <br />L03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes, <br />Chapter 429 (Act) in the total principal amount of $3,725,000, originally dated July 1, 1999, in <br />the denomination of $5,000 each or any integral multiple thereof, numbered No. R-1, upward, <br />bearing interest as above set forth, and maturing serially on February 1 in the years and amounts <br />as follows: <br /> <br />DJK-164783 <br />NE136--149 <br />