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<br /> <br />A.! ~'\( <br />. l.)z <br />Eik~ <br /> <br /> <br />Item # 4. 4 . <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor & City Council <br /> <br />FROM: <br /> <br />Lori Johnson, Finance Director <br /> <br />DATE: <br /> <br />October 23, 2000 <br /> <br />SUBJECT: Resolution Awarding the Sale of the City's $198,200 <br />General Obligation Equipment Certificate of 2000; Fixing <br />Its Form and Specifications; Directing Its Execution and <br />Delivery; and Providing for Its Payment <br /> <br />. <br /> <br />Attached is a resolution to award the sale of the city's 2000 equipment <br />certificate. The 2000 budget authorized $215,800 of equipment certificate <br />expenditures for public safety and street department equipment. All of the <br />budgeted equipment has been purchased, and each piece of equipment came <br />in under budget. Therefore, the actual 2000 equipment certificate including <br />issuance costs will be $198,200, $17,600 less than budgeted. The Bank of Elk <br />River will purchase the five-year certificates at an interest rate of six percent. <br /> <br />Action Reauested <br /> <br />The City Council is asked to approve the attached Resolution Awarding the <br />Sale of the City's $198,200 General Obligation Equipment Certificate of 2000; <br />Fixing its Form and Specifications; Directing its Execution and Delivery; and <br />Providing for its Payment. <br /> <br />. <br /> <br />13065 Orono Parkway. P.O. Box 490. Elk River, MN 55330. TDD & Phone (763) 441-7420. Fax (763) 441-7425 <br />