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RESOLUTION 451
Councilperson Curry introduced the following
resolution and moved its adoption:
RESOLUTION AUTHORIZING, SELLING AND ESTABLISHING
THE TERMS OF $1,250,000 IMPROVEMENT BONDS OF 1977,
AND PROVIDING FOR THEIR PAYMENT
BE IT RESOLVED by the City Council of the City of
Lakeville, Minnesota;
Section 1. Authorization and Sale.
1.01. This Council, by resolution adopted July
18, 1977, entitled "Resolution Providing For The Issuance
and Sale of $1,250,000 Improvement Bonds of 1977",
authorized the issuance and sale of said bonds. The
provisions of said resolution are incorporated herein by
reference.
1.02. Notice of sale of the bonds has been duly
published and the Council has publicly received, opened and
considered all sealed bids presented in conformity with the
notice and determines that the most favorable of such bids
is that of BancNorthwest of Minneapolis,
Minnesota , to purchase the bonds at a price of $1,250,000
plus accrued interest on the total principal amount to the
date of delivery and payment, and upon the further terms and
conditions set forth in this resolution.
1.03. The Mayor and City Administrator are
directed to execute in duplicate a contract on the part of
the City for the sale of the bonds in accordance with this
proposal, and to deliver a duplicate to the purchaser. The
Administrator shall retain the purchaser's check securing
the contract of sale until the bonds are delivered and the
purchase price is paid, and shall return the checks securing
other bids to the respective bidders.
Section 2. Form of Bonds, Certificate and
Coupons.
2.01. The bonds issued hereunder shall be printed
in substantially the following form:
A CERTIFICATION OF MINUTES RELATING TO
$1,250,000 IMPROVEMENT BONDS OF 1977
Issuer: City of Lakeville, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting,
held on Monday, August 15, 1977, at 7:30 P.M. at the Public
Works Building
Members present: Mako, Clarkson, Curry and Zaun
Members absent: Emond
Documents Attached:
Minutes of said meeting (pages):
RESOLUTION AUTHORIZING, SELLING AND ESTABLISHING
THE TERMS OF $1,250,000 IMPROVEMENT BONDS OF 1977,
AND PROVIDING FOR THEIR PAYMENT
I, the undersigned, being the duly qualified and
acting recording officer of the public corporation issuing
the bonds referred to in the title of this certificate,
certifying that the documents attached hereto, as described
above, have been carefully compared with the original
records of said corporation in my legal custody, from which
they have been transcribed; that said documents are a
correct and complete transcript of the minutes of a meeting
of the governing body of said corporation, and correct and
complete copies of all resolutions and other actions taken
and of all documents approved by the governing body at said
meeting, so far as they relate to said bonds; and that said
meeting was duly held by the governing body at the time and
place and was attended throughout by the members indicated
above, pursuant to call and notice of such meeting given as
cequired by law.
WITNESS my hand officially s such recordi
officer this /,�4 day of August, 1977
C
Signature
Patrick McGarvey,
City Administrator
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