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~ ~ ~ .. . . ~ RESOLUTION NO. 1995 Extract of Minutes of Meeting of the City Council of the City of New Brighton, Ramsey County, Minnesota Pursuant to due call and notice thereof, a meeting of the City Council of the City,of New Brighton, Minnesota, was duly held at the City Hall in said City on Tuesday, the 24th day of January, 1978 at 7:30 o'clock P.M. The following members were present: SendeR, Benke, Blomquist, Janecek, Werdouschegg and the following were absent: None * * * * * * * * * Councilman Werdousche3g . introduced the following written resolution and moved its adoption: RESOLUTION TO ISSUE AND SELL $435,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1978 BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota, as follows: 1. The City Council deems it necessary and expedient to issue and sell $435,000 negotiable coupon, General Obligation Improvement Bonds of 1978 to provide permanent financing for Improvements Nos. 75-4, 75-5, 75-6, 75-7, 75-8, 75-9 and 75-10 of the City and to refund the Temporary Improvement Bonds of 1975 dated April 1, 1975, maturing April 1, 1978, to the extent that special assessments on account of such Improvements already col- lected are insufficient for the purpose pursuant to the authority of Chapter 429, Minnesota Statutes. The City Council hereby finds and determines that the amount needed for such purposes is $430,000 plus $5,000 to represent additional interest upon the bonds being issued pursuant to the provisions of Section 475.56, Minnesota Statutes. The City Council further finds and determines that each improvement has been contracted for and that specIal assessments have been levied in amounts more than 20% of the cost of each improvement. 2. The City Council will meet at City Hall on Tuesday, the 28th day of February, 1978, at 8:00 o'clock P.M., for the purpose of considering sealed bids for the purchase of said General Obligation Improvement Bonds of 1978 which are received by the City Clerk prior to 2:00 o'clock P.M. that day. 3. The terms of such bonds and of the sale thereof shall be the terms set forth in the following Official Notice of Bond Sale, which shall be furnished to all interested bidders by the City Clerk and by T. G. Evensen & Associates, Inc. , fiscal agents for the City: ~ I' --.. /trs-