HomeMy WebLinkAbout76-15Date: April 5, 1976
Motion by Emond
l 04
CITY OF LAKEVILLE
RESOLUTION
Resolution No. 76-15
Seconded by Curry
RESOLUTION PROVIDING FOR PUBLIC SALE OF
$215,000 FIRE HALL AND EQUIPMENT BONDS
OF 1976
BE IT RESOLVED by the Council of the City of Lakeville, Minnesota
as follows:
Section 1. Recitals and Bond Authorization. The duly qualified
electors of the City, at the general election held November 4, 1975, auth-
orized the issuance of $215,000 principal amount of general obligation bonds
of the City to finance the acquisition of land, construction of a fire hall,
and acquisition of two fire trucks and other fire fighting equipment. This
Council hereby determines that it is necessary and in the best interests of
the City to sell and issue $212,200 of the bonds so authorized; and, for the
purpose of obtaining the best bid for such bonds at public sale, to sell and
issue an additional $2,800 principal amount of bonds as part of the same
issue and representing interest, as authorized by Minnesota Statutes, Sec-
tion 475.56.
Section 2. Terms of Sale: Notice. Springsted Incorporated, bond
consultants to the City, has presented to this council a form of Official
Notice of Sale for the bonds authorized in paragraph 1 to be sold and issued,
and a form of abbreviated notice of sale for publication, which are attached
hereto, and which are hereby approved and shall be placed on file by the
City Clerk. Each and all of the provisions of the Official Notice of 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 Clerk is authorized and directed to cause the abbreviated
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.
Section 3. Sale Date. This Council will receive, open and tabu-
late the sealed bids for the purchase of the bonds in accordance with the
Official Notice of Sale at its regular meeting to be held on Monday, May 13,
1976, and will take such action thereon as is deemed in the best interests
of the City.
ADOPTED this 5th day of April, 1976.
Mayor
ATTEST:
City Clerk