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RECOMMENDATIONS <br /> <br />Re: <br /> <br />Recommendations for the Issuance of: <br /> $1,165,000 General Obligation Improvement Bonds, Series 1997A <br /> ("the Series 1997A Bonds") <br /> $ 335,000 General Obligation Water Revenue Bonds, Series 1997B <br /> ("the Series 1997B Bonds") <br /> <br />We respectfully request your consideration <br />issues. <br /> <br />We recommend the following for the bonds: <br /> <br />1. Action Requested <br /> <br />2. Sale Date and Time <br /> <br />Authority and Purpose for the Bond <br />Issues <br /> <br />4. Principal Amount of Offerings <br /> <br />5. Repayment Terms <br /> <br />6. Term Bond Provision <br /> <br />of our recommendations for the above-named <br /> <br />To establish the date and time of receiving <br />bids and establish the terms and conditions <br />of the offering. <br /> <br />Monday, July 28, 1997, at 10:30 A.M. with <br />award by the City Council at 6:00 P.M. of <br />that same day. <br /> <br />The Series 1997A Bonds are being issued <br />pursuant to Minnesota Statutes, Chapters <br />429 and 475. Proceeds of this issue are <br />being used to finance various improvement <br />projects within the City. <br /> <br />The Series 1997B Bonds are being issued <br />pursuant to Minnesota Statutes, Chapters <br />444 and 475. Proceeds of this issue are <br />being used to finance the installation of a <br />watermain addition to the Highland Road <br />area. <br /> <br />Series 1997A Bonds - $1,165,000 <br />Series 1997B Bonds - $335,000 <br /> <br />The Series 1997A Bonds will mature <br />annually each February 1, 1999 through <br />2013. Interest on the Series 1997A Bonds <br />will be payable semi-annually each <br />February 1 and August 1, commencing <br />August 1, 1998. <br /> <br />The Series 1997B Bonds will mature <br />annually each February 1, 1998 through <br />2007. Interest on the Series 1997B Bonds is <br />due semi-annually each February 1 and <br />August 1, commencing February 1, 1998. <br /> <br />For the Series 1997A Bonds, we have <br />included a provision which permits the <br />underwriters to combine multiple maturity <br />years into a term bond, subject to mandatory <br />redemption on the same maturity schedule <br />provided in the Terms of Proposal. The <br /> <br /> <br />