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<br />", <br /> <br />Name of Bidder <br /> <br />Interest Rates <br /> <br />Purchase Price <br /> <br />please see attached Exhibit A for list of bids <br />received at sale <br /> <br />Councilman Blomquist introduced the following wr:i,.tten <br />resolution and moved its adoption: <br /> <br />RESOLUTION AWARDING SALE OF $460,000 GENERAL <br />OBLIGATION IMPROVEMENT BONDS OF 1980 t' FIXING <br />THE FORM AND SPECIFICATIONS THEREOF, PROVIDING <br />FOR THEIR EXECUTION AND DELIVERY AND LEVYING <br />TAXES FOR THEIR PAYMENT <br /> <br />BE IT RESOLVED by the City Council of the Gity of New <br />Brighton, Minnesota, as follows: <br /> <br />1. The bid of BancNorthwest <br />to purchase the $460,000 General Obli- <br />gation Improvement Bonds of 1980 of said City as advertised for <br />sale is hereby found and determined to be the best bid received <br />pursuant to advertised notice of sale, and shall be and is hereby <br />accepted, said bid being to purchase bonds bearing interest as <br /> <br />follows: 6.70%-1981/85 7.10%-199l <br />6.75%-1986 7.20%-1992 <br />6.80'-1987 7.30%-1993 <br />6.90%-1988 7.40%-1994 <br />7.00%-1989/90 7.50%-1995 <br /> <br />at a price of $453,606.00plus accrued interest. <br /> <br />2. To provide permanent financing of Improvement Nos. <br />77-4, 77-5, 77-6, 77-7, 78-1 and 80-2 of the City and to refund <br />the Temporary Improvement Bonds of 1977, dated May 1, 1977, <br />maturing May 1, 1980, the City shall forthwith issue its negoti- <br />able coupon, General Obligation Improvement Bonds of 1980 in the <br />aggregate principal amount of $460,000, to be dated April 1, <br />1980, to bear interest at the rates above set forth, payable <br />February 1, 1981 and semiannually thereafter on February 1 and <br />August 1 in each year, and to mature serially on February 1 in <br />the years and amounts as follows: <br /> <br />$25,000 in 1981 to 1983 <br />$30,000 in 1984 to 1985 <br />$35,000 in 1986 to 1990, and, <br />$30,000 in 1991 to 1995, all years <br />inclusive, <br /> <br />-2- <br />