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HomeMy WebLinkAbout86-055 a CERTIFICATION OF MINUTES RELATING TO GENERAL OBLIGATION BONDS Issuer: City of Lakeville, Minnesota Governing Body: City Council - Kind, date, time and place of meeting: A council meeting held on Monday, June 16, 1986, at 7:00 0' clock P .M. , at the City Hall. Members present: Zaun, Nelson, Harvey, Enright, Sindt Members absent.: None Documents Attached: Minutes of said meeting (pages) RESOLUTION NO. 86-55 RESOLUTION AUTHORIZING ISSUANCE AND SALE OF VARIOUS GENERAL OBLIGATION BONDS • OFFICIAL ^1ERMS OF OFFERING NOTICES OF SALE 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, certify that the documents attached hereto, as described above, have been carefully compared with the original recoras 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 tar 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 required by law. WITNESS my hand officia y a ~'c recor officer this 16th day of June, 1986. s • ignatu re Patrick McGarvey City Clerk-Administrator Councilmember Sindt introduced the following resolution and moved its adoption: RESOLUTION N0. 86-55 RESOLUTION AUTHORIZING ISSUANCE AND SALE OF VARIOUS - GENERAL OBLIGATION BONDS BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota, as follows: 1. Bond Authorization. It is nereby found and determined to be in the best interests of the City to sell and issue the following obligations: a) $2,930,000 General Obligation Improvement Bonds, Series 1986A, to finance various improvement projects to be undertaken pursuant to Minnesota Statutes, Chapter 429; b) $1,200,000 General Obligation Improvement t3onds, Series 1986B, to finance various improvement projects to be undertaken pursuant to Minnesota Statutes, Chapter 419; c) $175,000 General Obligation Equipment Certificates • of Indebtedness, Series 1986, to~finance the purcnase of public safety and public works equipment pursuant to Section 412.301, Minnesota Statutes; and d) $1,700,000 General Obligation Park Bonds, Series 1986, to finance the acquisition and betterment of parks within the City, pursuant to Minnesota Statutes, Chapter 475. 2. Sale Terms. Springsted Incorporated, bond consultant to the City, has presented to this Council forms of Official Terms of Offering of the sale of each series of obligations, and forms of Notice of Sale for publication for each series, which forms are attached hereto and shall be placed on file in the office of the City Clerk. Each and all of the provisions of the respective Official Terms of Offering are hereby adopted as the terms and conditions of the obligations therein described and of the sale thereof, and shall be made available to all prospective purchasers of the obligations. The City Clerk is authorized and directed to cause each 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 sale. • 3. Sale Meeting. This Council shall meet on ~~Ionday, July 21, 1986, at 7:00 P.M., to consider the bids received for the purchase of each series of obligations, and to take such actions thereon as is deemed in the best interests of the City. yor Att t : - ~ c" - City C ler - nistrato The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Nelson ~ and upon vote being taken thereon, the following voted in favor. • thereof; Nelson, Zaun, Sindt, Enright, Harvey and the following voted against the same: .None whereupon said resolution was declared passed and adopted.