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<br />. <br /> <br />. <br /> <br />. <br /> <br />CITY OF ELK RIVER <br /> <br />RESOLUTION NO. <br /> <br />RESOLUTION ACCEPTING OFFER TO PURCHASE THE <br />CITY'S $800,000 GENERAL OBLIGATION TAX INCREMENT BONDS, <br />SERIES 2000A AND PROVIDING FOR THEIR ISSUANCE <br /> <br />WHEREAS, it is hereby determined that the City should issue its $800,000 General <br />Obligation Tax Increment Bonds, Series 2000A, (the "Bonds"), to defray a portion of certain public <br />improvements (the "Improvements" or "Proj ect") to be incurred within and for the benefit ofthe Elk <br />River Economic Development Authority's (the "EDA") Tax Increment Financing District No. 19 <br />pursuant to Minnesota Statutes, Chapters 469 and 475, as follows: <br /> <br />Estimated Total Project Costs <br />Allowance for Discount <br />Costs of Issuance <br />Capitalized Interest <br /> <br />$ 725,000 <br />11,900 <br />14,550 <br />48,550 <br /> <br />Net Bond Issue <br /> <br />$ 800,000 <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River <br />as follows: <br /> <br />1. Acceptance of Offer. Theofferof <br />(the "Purchaser"), to purchase the City's $800,000 General Obligation Tax Increment <br />Bonds, Series 2000A (the "Bonds", or individually a "Bond"), at the rates of interest <br />and upon the other terms set forth in this Resolution, and to pay therefor the sum of <br />$ plus interest accrued to settlement, is hereby accepted. <br /> <br />2. Title: Original Issue Date: Maturities: Denominations. <br /> <br />(a) Title and Maturities. The Bonds shall be titled "General Obligation Tax <br />Increment Bonds, Series 2000A," shall be dated November 1, 2000, as the <br />date of original issue, and shall be issued forthwith on or after such date as <br />fully registered bonds. The Bonds shall be numbered from R-1 upward in the <br />denomination of $5,000 each or in any integral multiple thereof of a single <br />maturity. The Bonds shall mature on February 1 in the years and amounts as <br />follows: <br /> <br />1217682.1 <br />