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''-- -~ ..' .w:,_~. - '-1- ""- ' ~ '-' RESQLUTION NO. 2312 .' ...... .. 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 regula1 meeting of the City Council of the City of New Brighton, Mi1nesota, was duly held at the City Hall in said City on Tuesday, the '11th day of March, 1980 at 8 o'clock P.M. The following members were present: Mayor Senden Councilmembers Benke Blomquist Janecek Schmidt and the following were absent: None * * * * * * * * * Councilman Janecek introduced the \ following written resolution and moved its adoption: RESOLUTION TO ISSUE AND SELL $460,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1980 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 $460,000 negotiable coupon, General Ob1ig tion Improvement Bonds of 1980 to provide permanent financing fo Improvements Nos. 77-4, 77-5, 77-6, 77-7 and 78-1 of the Ci y and to refund the Temporary Improvement Bonds of 1977, dated May 1, 1977, maturing May 1, 1980, to the extent that special assessments on account of such Improvements already collected are insufficient for the purpose, and to provide permanent financing for Improve- ment No. 80-2, pursuant to the authority of Chapter 429, Minnesota Statutes. The City Council hereby finds and determines that the amount needed for such purposes is $452,000 plus $8,000 to repre- sent 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 special assessmenrs have been levied or will be levied in amounts more than 20% of the cost of each improvement. 2. The City Council will meet at City Hall on Tusday, the 8th day of April, 1980, at 8:00 o'clock P.M., for the purpose of considering sealed bids for the purchase of said General Obligation Improvement Bonds of 1980 which are received by the City Clerk prior to 11:30 o'clock A.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 Evensen-Dodge, Inc., fiscal agents for the City: c:.J..l/ot