5.1. SR 06-28-1999 - Laserfiche WebLink

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then introduced the . following Resolution and moved its adoption: RESOLUTION NO. RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF THE CITY'S $5,725,000 GENERAL OBLIGATION IMPROVEMENT BONDS; SERIES 1999A BE IT RESOLVED by the City Council (the "Council") of the City of Elk River, Minnesota (the "City"), as follows: 1. Recitals. It is hereby determined: (a) That the assessable and other public improvements (the "Improvements") described in the attached Exhibit B have been or will be duly ordered by the City and have been constructed by the City or will be constructed under contracts which the City has or will let therefor, all pursuant to and in accordance with the applicable provisions of Minnesota Statutes, Section 444.075 and Chapters 429 and 469. (b) That is it necessary and expedient to the sound financial management of the affairs of the City that the . City issue its bonds pursuant to Minnesota Statutes, Section 444.075 and Chapters 429, 469 and 475, to provide financing for the Improvements. (c) Those Improvements being undertaken by the City pursuant to Minnesota Statutes, Chapter 429 (the "Chapter 429 Improvements"), and all their components have been ordered on or prior to the date hereof, after a hearing thereon (except where not required by law) for which mailed and published notice was duly given as required by law describing said Improvements and all their components by general nature, estimated cost, and area to be assessed. (d) The Council desires that the Bonds be issued initially in "Book Entry Only Form" (as hereinafter described) . 2. Acceptance of Offer: Book Entry Bonds. (a) The offer of (the "Purchaser") to purchase the City's $5,725,000 General Obligation Bonds, Series 1999A (the "Bonds"), at the rates of interest and upon the other terms set forth in this Resolution, and to pay therefor the sum of $ plus interest accrued to settlement, is hereby accepted. . 1045757.1 2