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<br />After due consideration of the proposals,'Member Larson <br /> <br />then introduced <br /> <br />the following resolution and moved its adoption: <br /> <br />RESOLUTION NO, 97-005 <br /> <br />A RESOLUTION AWARDING THE SALE OF $1,670,000 <br />GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 19978; <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 following assessable public improvements (the Improvements) have <br />been made, duly ordered or contracts let for the construction thereof, by the City pursuant <br />to the provisions of Minnesota Statutes, Chapter 429 (Act); <br /> <br />Proiect Designation & Description: <br /> <br />Total Proiect Cost to be Financed <br /> <br />a) Streetscape Project <br />b) Emerald A venue Improvements <br />c) 8th Avenue Improvements <br />d) Highway 95 Reconstruction <br /> <br />Total Project Costs <br />Issuance Costs <br />Underwriter's Discount <br />Capitalized Interest <br /> <br />$1,590,500 <br />23,998 <br />18,370 <br />37.132 <br />$1,670,000 <br /> <br />(b) its is necessary and expedient to the sound fmandal management of the <br />affairs of the City to issue $1,670,000 General Obligation Improvement Bonds, Series <br />19978 (Bonds) pursuant to the Act to provide financing for the Improvements. <br /> <br />1,02. The proposal of piper Jaffrav, roc. (Purchaser) to <br />purchase $1,670,000 General Obligation Improvement Bonds, Series 1997B (Bonds) of the City <br />described in the Terms of Proposal thereof is hereby found and detennined to be a reasonable <br /> <br />DJK1l5945 <br />NE136-137 <br />