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V • <br />Eli.'- <br />m <br />;i' <br />.V ; • ^ ' <br />LfeR."- <br />m <br />mtr <br />mm- <br />f". -.- <br />mi <br />:aSK,.. r'/i^.y: <br />iv' i^; ■ <br />'■•r'-f <br />'ise;.-. <br />K^e-'fe-/;: <br />■J.'k'-r^.'- <br />: >;■>*;•;;. . <br />■^!^r- <br />;■ <br />W'y-'''' <br />.1 <br />Member introduced the following I <br />written resolution and moved its adoption: <br />RESOLUTION AWARDING SALE OF $2,000,000 GENERAL <br />OBLIGATION SEWER IMPROVEMENT BONDS, SERIES 1992, FIXING <br />THE FORM AND SPECIFICAriONS THEREOF, PROVIDING <br />FOR THEIR EXECUTION AND DELIVERY, AND PROVIDING <br />FOR THEIR PAYMENT <br />BE IT RESOLVED by the City Council of the City of <br />Orono, Minnesota, as follows: <br />1. The proposal of _ <br />to purchase -he $2,000,000 General Obligation Sewer Improvement <br />Bonds, Series 1992 of the City is hereby found and determined to <br />be the best proposal received pursuant to the approved Official <br />Notice of Bond Sale, which is hereby approved and ratified, and <br />shall be and is hereby accepted, said offer being to purchase <br />Bonds bearing interest according to year of maturity as follows: <br />Maturity <br />Date <br />Interest <br />Rate ^ <br />Maturity <br />Date <br />Interest <br />Rate <br />1994 <br />1995 <br />1996 <br />1997 <br />1998 <br />1999 <br />2000 <br />2001 <br />%2002 <br />2003 <br />2004 <br />2005 <br />2006 <br />2007 <br />2008 <br />% <br />at a price of $.plus accrued interest. <br />2. To provide funds for the 1992 Stubbs Bay Sewer <br />Improvement Project, the City shall forthwith issue its <br />negotiable General Obligation Sewer Improvement Bonds, Series <br />1992 in the aggregate principal amount of $2,000,000, to be dated <br />August 1, 1992, to bear interest at the rates above set forth, <br />conqputed on the basis of a 360-day year of twelve 30-day months, <br />payable February 1, 1993 and semiannually thereafter on February <br />1 euid August 1 in each year, amd to mature serially on February 1 <br />in the years and amounts as follows: <br />-2- <br />taints