HomeMy WebLinkAbout77-54RESOLUTION 77-54
Councilperson Zaun introduced the following
resolution and moved its adoption:
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE
OF $215,000 GENERAL OBLIGATION IMPROVEMENT
BONDS OF 1977, SERIES B
BE IT RESOLVED by the City Council of the City of
Lakeville, Minnesota, as follows: - -
1. Authorization of Bonds. This Council has heretofore
ordered the local improvements designated below to be constructed
in the City and h,as...entered or will soon enter into z. contract
for the construction of each of said improvements, under and
pursuant to Minnesota'Statutes,'Chapter 429, the designation and
estimated total cost of said improvements being as follows:
Project Designation
1977-1 Street Improvements
Estimated Cost
$215,000
It is hereby determined to be necessary and expedient for the
City to issue and sell -its general obligation Improvement -Bonds
in the principal amount of $215,000 to finance the cost of said
improvements_
2. -Terms of Sale; Notice. Springsted Incorporated,
bond consultants to the City, has presented to this Council a
form of Official Terms of Bond Sale for the bonds authorized in
paragraph 1 to be sold and issued and a form of Notice of Sale
for publication, which are attached hereto and shall be placed
on file in the City Administrator. Each and all of the provisions
of the Official Terms of Bond Sale are hereby adopted as the
terms and conditions of said bonds and of the sale thereof,
and shall be made available to all prospective purchasers of
the bonds. The City Administrator is authorized and directed to
cause the Notice of Sale to be published once in the official
newspaper of the City, and once in the Commercial West, a financial
periodical published in Minneapolis, at least ten days before
the date of said meeting.
3. Sale Date. This Council will receive, open and
tabulate the bids in accordance with the Notice of Sale at its
meeting to be held on Monday, October 3, 1977, and will take such
action thereon as is deemed in the best interests of the City.
hay r
Attest:
City Administrator
The motion for the adoption of the foregoing resolution
was duly seconded by Councilperson Curry , and upon
vote being taken thereon, the following voted in favor thereof:
All members
and the following voted against the same: None
whereupon said resolution was declared passed and adopted,
_ and was signed by the Mayor and attested by the City Administrator.