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CITY OF ELK RIVER <br />• COUNTY OF SHERBURNE <br />STATE OF MINNESOTA <br />RESOLUTION 95- <br />RESOLUTION AWARDING THE SALE OF THE CITY'S $88,000 <br />GENERAL OBLIGATION EQUIPMENT CERTIFICATE OF 1995; <br />FIXING ITS FORM AND SPECIFICATIONS; <br />DIRECTING ITS EXECUTION AND DELIVERY; <br />AND PROVIDING FOR ITS PAYMENT. <br />BE IT RESOLVED by the City Council (The "Council ") of the City <br />of Elk River, Minnesota (the "City "), as follows: <br />1. It is hereby determined: <br />(a) It is necessary and expedient to issue the City's <br />$88,000 General Obligation Equipment Certificate of <br />1995 (the "Certificate ") pursuant to Minnesota <br />Statutes, Section 412.301, to finance the costs of <br />the acquisition of the following items of capital <br />equipment for the City (hereinafter referred to as <br />the "Equipment ") : <br />• Equipment: <br />Fire Radios and Self - <br />Contained Breathing Apparatus $25,000 <br />Computer Equipment 8,800 <br />Police Vehicles, Setup and <br />Equipment 59,300 <br />Emergency Preparedness Siren 10,000 <br />Parks Department Backblade 2,600 <br />Field Groomer 10,500 <br />Costs of Issuance 800 <br />Subtotal $117,000 <br />Less Funds on Hand 29,000 <br />NET TOTAL $ 88,000 <br />303682.1 <br />(b) The <br />Equipment has an <br />expected <br />useful <br />life at least <br />as <br />long as the final <br />maturity <br />of the <br />Certificate, <br />303682.1 <br />