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<br />Extract of Minutes of Meeting of the City Council <br />of the City of New Brighton, Minnesota <br /> <br />Pursuant to due call and notice thereof, a regular meet- <br /> <br />ing of the City Council of the City of New Brighton, Minne- <br />sota, was held in the New Brighton City Hall on Tuesday, May <br />26, 1987, commencing at 7:30 o'clock, p.m., C.T. <br /> <br />The following Councilmembers were present: <br />Blomquist, Brandt, Gunderman <br /> <br />Benke, <br /> <br />and the following were absent: <br /> <br />Williams <br /> <br />Councilmember <br /> <br />Gunderman <br /> <br />introduced the fol- <br /> <br />lowing resolution and moved its adoption: <br /> <br />RESOLUTION NO. 87-61 <br /> <br />RESOLUTION AMENDING THE TERMS OF THE CITY'S <br />$150,000 GENERAL OBLIGATION TAX INCREMENT BOND OF 1982, <br />AMENDING THE TERMS OF THE CITY'S $65,000 GENERAL <br />OBLIGATION TAX INCREMENT BOND OF 1983, AND <br />AMENDING THE TERMS OF THE CITY'S $300,000 GENERAL" <br />OBLIGATION FIRE STATION BOND OF 1984, RESPECTIVELY <br /> <br />BE IT RESOLVED by the City Council of the City of New <br />Brighton, Minnesota, as follows: <br /> <br />1. The City Council hereby finds, recites, and deter- <br />mines: <br /> <br />(a) The City has issued and there remains out- <br />standing the City's $150,000 General Obliga- <br />tion Tax Increment Bond of 1982, dated Decem- <br />ber 2, 1982 (the "1982 Bond"), pursuant to <br />Resolution No. 2657 (the "1982 Bond Resolu- <br />tion"), adopted by the City Council on Novem- <br />ber 23, 1982. The pr incipal installments of <br />the 1982 Bond bear interest at the rate of <br />8.50% per annum, payable semiannually on Feb- <br /> <br />- 1 - <br />