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<br />.' <br /> <br />, , <br /> <br />. , J <br /> <br />.. <br /> <br />----- <br /> <br />~ > <br /> <br />After due consideration of the bids, Councilmember <br /> <br />Schmidt <br /> <br />introduced the following resolution and moved its <br /> <br />adoption: <br /> <br />RESOLUTION 83....83 <br /> <br />RESOLUTION AWARDING THE SALE OF $1,400,000 <br />GENERAL OBLIGATION TAX INCREMENT BONDS <br />OF 1983, SERIES A; <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 <br />Brighton, Minnesota, as follows: <br /> <br />1. The bid of <br /> <br />(the "Purchaser") to purchase the City's $1,400,000 General <br />Obligation Tax Increment Bonds of 1983, Series A (the <br />"Bonds"), as described in the notice of sale thereof, as <br />amended by an amended notice of sale of the Bonds published <br />in Commercial West on July 2, 1983 and hereby ratified and <br />approved, is hereby found and determined to be the highest <br />and best bid ,recei ved pursuant to duly advertised not-ice of <br />sale and shall be and is hereby accepted, such bid being to <br />purchase the Bonds at a pr ice of $ \,31"3,000. plus accrued <br />interest to date of delivery, the Bonds to bear interest, to <br />mature in the years' and amounts, and to be subj ect to such <br />other terms and conditions as hereinafter provided. The sum <br />of $ , being the amount bid in excesS of <br />$1,373,000, shall be credited to the Debt Service Account <br />for the Bonds hereinafter created. The City Clerk-Treasurer <br />is directed to retain the good faith check of the Purchaser <br />pending completion of the sale and delivery of the Bonds and <br />to return the checks of the unsuccessful bidders forthwith. <br /> <br />2. The City of New Brighton shall forthwith issue and <br />sell its General Obligation Tax Increment Bonds of 1983, <br />Series A, in the total principal amount of $1,400,000. The <br />Bonds shall be dated August 1, 1983, shall be fully regis- <br />tered without interest coupons and shall be numbered R-l ~ <br />seq., shall be in the denomination of $5,000 each, or in <br />integral multiples thereof, shall bear interest as set forth <br />below, all interest payable August 1, 1984, and semiannually <br />thereafter on February 1 and August 1 in each year, and <br /> <br />- 3 - <br />