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86-060
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Resolutions 1986
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86-060
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8/9/2005 1:54:00 PM
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8/9/2005 11:37:36 AM
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<br />structed by the Ci ty or will be constructed <br />under contracts which the City has or will let <br />therefor, all pursuant to and in accordance <br />with Minnesota Statutes, Chapter 444: <br /> <br />Project Designation & Description <br /> <br />Project Costs <br /> <br />Well 13 <br />Water Tower Painting <br />Wells 10 - 12 <br /> <br />$ 572,850 <br /> <br />Issuance Costs <br />Capitalized Interest <br />Allowance for Discount <br /> <br />20,198 <br />44,602 <br />12,350 <br /> <br />Total <br /> <br />$ 650,000 <br /> <br />(b) That it is necessary and expedient to the <br />sound financial management of the affairs of <br />the City that the City issue its bonds pursu- <br />ant to Minnesota Statutes, Chapters 429 and <br />475, to provide financing for the Improve- <br />ments. <br /> <br />2. The City shall therefore issue and sell its <br />$650,000 Water Revenue Bonds of 1986 (the "Bonds"), to <br />provide financing of the Improvements, and $12,350 of such <br />amount shall represent additional bonds issued pursuant to <br />Minnesota Statutes, Section 475.56, as additional interest <br />required to market the Bonds at this time. The Bonds shall <br />be issued and sold in accordance with the following Official <br />Notice of Sale: <br /> <br />- 2 - <br />
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