1982-11-30 - Laserfiche WebLink

Home Browse Search

I I J Councilman Blomquistintroduced the following written resolution and moved its adoption: RESOLUTION AWARDING SALE OF $1,330,000 GENERAL OBLIGATION WATER IMPROVEMENT BONDS OF 1982, FIXING THE FORM AND SPECIFICATIONS THEREOF, PROVIDING FOR THEIR EXECUTION AND DELIVERY AND LEVYING FOR THEIR PAYMENT BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota, as follows: 1. The bid of Dain Bosworth Inc. to purchase the $1,330,000 General Obligation Water Improvement Bonds of 1982 of said City as advertised for sale is hereby found and determined to be the best bid received pursuant to the advertised notice of sale, and shall be and is hereby accepted, said bid being to purchase bonds bearing interest as follows: SEE ATTACHED TABULATION OF BIDS at a price of $ 1,3081720. plus accrued interest. 2. To provide permanent financing of the costs, including contract price, construction interest and legal, fiscal and miscellaneous costs, of constructing water wells and related facilities as authorized by the electors at a bond election held November 2, 1982, the City shall forthwith issue its negotiable coupon, General Obligation Water Improvement Bonds of 1982 in the aggregate principal amount of $1,330,000, to be dated December 1, 1982, to bear interest at the rates above set forth, payable August 1, 1983 and semiannually thereafter on February 1 and August 1 in each year, and to mature serially on February 1 in the years and amounts as follows: $25,000 in 1985, $50,000 in 1986 to 1989, $75,000 in 1990 and 1991, $100,000 in 1992 to 1994, and $125,000 in 1995 to 1998, $155,000 in 1999, all years inclusive, all bonds maturing on or after February 1, 1994 being subject to redemption at the option of the City and in inverse numerical order on February 1, 1993 and any interest payment date there- after at par and accrued interest. The bonds shall be numbered -2-