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MEMORANDUM <br /> <br />*Item 3.3.* <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />FROM: <br /> <br />Lori Johnson, Finance Director <br /> <br />DATE: <br /> <br />November 12, 2002 <br /> <br />SUBJECT: <br /> <br />Consider Resolution Awarding the Sale of the City's $267,500 <br />General Obligation Equipment Certificate of 2002; Fixing its <br />Form and Specifications; Directing its Execution and Delivery; <br />and Providing for its Payment <br /> <br />Attached is a resolution to award the sale and set the terms of the $267,500 General <br />Obligation Taxable Equipment Certificate of 2002, as approved in the 2002 budget for the <br />purchase of public safety and public works equipment. <br /> <br />The certificate is being purchased by The Bank of Elk River and carries an interest rate of <br />2.75 percent for a term of one year. <br /> <br />Action Requested <br />The City Council is asked to approve the attached resolution awarding the sale of the City's <br />$267,500 General Obligation Taxable Equipment Certificate of 2002; fixing its form and <br />specifications; directing its execution and delivery; and providing for its payment. <br /> <br />S / Coundl/ Lori/ GenObBond <br /> <br /> <br />