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RESOLUTION NO. 06-054 A RESOLUTION AWARDING THE SALE OF $20,450,000 GENERAL OBUGA TION TAX INCREMENT BONDS, SERIES 2006A; FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT E IT RESOLVED By the City Council of the City of New Brighton, Ramsey County, Minne ta (the "City") as follows: ection 1. Sale of Bonds. (the "P Series determ Bonds interes .01. The proposal of Piper Jaffray Companies, Minneapolis, Minnesota chaser") to purchase $20,450,000 General Obligation Tax Increment Bonds, 06A (the "Bonds") of the City described in the Tenus of Proposal thereof is found and ed to be a reasonable offer and is hereby accepted, the proposal being to purchase the a price of $20,571,189.23 plus accrued interest to date of delivery, for Bonds bearing s follows: Year Interest Rate Year Interest Rate 2013 4.25% 2022 4.75% 2014 4.25 2023 4.75 2015 4.25 2024 4.75 2016 4.25 2025 4.75 2017 4.25 2026 5.00 2018 4.25 2027 5.00 2019 4.375 2028 5.00 2020 4.375 2032 5.00 2021 4.50 True i rest cost: 4.7383% $20,14 Cons City F compl propos behalf .02. The sum of $427,939.23 being the amount proposed by the Purchaser in excess of 250.00 shall be credited to the Debt Service Fund hereinafter created, or deposited in the tion Fund under Section 4.01 hereof, as determined by the City's financial advisor. The ance Director is directed to retain the good faith check of the Purchaser, pending on of the sale of the Bonds, and to return the good faith checks of the unsuccessful s. The Mayor and City Manager are directed to execute a contract with the Purchaser on the City. .03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes, Chapt 469 (the "AcC), in the total principal amount of $20,450,000, originally dated July 15, 2