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<br />After due consideration of the proposals, Member <br /> <br />Larson <br /> <br />then introduced <br /> <br />the following resolution and moved its adoption: <br /> <br />RESOLUTION NO. 97-007 <br /> <br />A RESOLUTION AWARDING THE SALE OF $3,435,000 <br />GENERAL OBLIGATION TAXABLE TAX INCREMENT <br />BONDS, SERIES 1997D; <br />FIXING THEIR FORM AND SPECIFICATIONS; <br />DIRECTING THEIR EXECUTION AND 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. It is hereby determined that: <br /> <br />(a) the City has duly established Development district No.1 (District) pursuant <br />to Minnesota Statutes, Sections 469.124 through 469.134 (Act); <br /> <br />(b) the City has duly established tax increment financing district nos. 15 and <br />25 (TIF Districts) within the District pursuant to Minnesota Statutes, Sections 469.174 to <br />469.179 (TIF Act); , <br /> <br />(c) the City is authorized by section 469.178 of the TIF Act to issue and sell <br />its general obligations to pay all or a portion of the public redevelopment costs (Costs) <br />related to the District as identified in the redevelopment program and tax increment <br />financing plan (Plan) for the TIF District. <br /> <br />~(d) the Plan lists the following Costs to be financed by the general obligations: <br /> <br />Public Improvements <br /> <br />T atal Develooment Cost <br /> <br />Project Costs <br />Issuance Costs <br />Underwriter's Discount <br /> <br />$3,361,012 <br />29,333 <br />44,655 <br /> <br />Total Issue <br /> <br />$3,435,000 <br /> <br />DJK1l5944 <br />NE136-1J7 <br />