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,, ' <br /> , - , �� <br /> • . Councilman Hurr. � introduc d\the following written <br /> resolution and moved its adoption:� . <br /> � RESOLUTION #1228 <br /> RESOLUTION AWARDING SALE OF $1, 100, 000 GENER.AL <br /> OBLIGATION IMPROVEMENT BONDS OF 1984 FI�XING <br /> THE FORM AND SPECIFICATIONS TI�REOF, PROVIDING <br /> FOR THEIR EXECUTION AND DELIVERY AND <br /> LEVYING TAXES FOR THEIR PAYN�NT <br /> . BE IT RESOLVED by the City Council of the City of <br /> Orono, Minnesota, as follows: <br /> 1. The bid of Al l i son Wi 11 i ams Companyof Mi nneapol i s,-��'"� � � <br /> Minnesota to purc ase the u p to 1,100, 000 <br /> General Obligation Improvement Bonds of 1980 of the City as <br /> advertised for sale is hereby found and determined to be the best <br /> bid received pursuant to advertised notice of sale, and shall be <br /> and is hereby accepted, said bid being to purchase bonds bearing <br /> interest as follows: .� <br /> 7. 109� 1982 7.40% 1987 8.00% 1991-92 <br /> 7.159� 1983 7.50� 1988 8.20% 1993 � <br /> 7.20q 1984-85 7.70% 1989 � . 8.40� 1994 <br /> • 7.25q. 1986 7.90q 1990 ' 8.60% 1995 <br /> at a price of $ 1,082,510.00 Plus accrued interest. 8'�5q 1996 <br /> 2 . To provide permanent financing of Improvement <br /> Projects Nos. 80-1 and 80-2 of the City, the City shall forthwith <br /> issue its negotiable coupon, General Obligation Improvement Bonds <br /> of 1980 in the aggregate principal amount of $ 1.100.000.00, to be <br /> dated December 1, 1980, to bear interest at the rates above set <br /> forth, payable September 1, 1981 and semiannually thereafter on <br /> March 1 and September 1 in each year, and to mature serially on <br /> . March 1 in the years and amounts as follows: � <br /> 1982 $50,000 1986 $75,000 1990 $75,000 1994 $75,000 <br /> 1983 75,000 1987 75,000 ' 1991 75,000 1995 75,000 <br /> 1984 75,000 1988 75,000 1992 75,000 1996 75,000 <br /> � 1985 75,000 1989 75,000 1993 75,000 <br /> �ke--C�r��r�re�e�-e�ec�s-�at-��-p�-i�iFra-�-amotrat-o�-th��onds be <br /> redtxced-p�rrsna-rr�-tv-�ts-�'rghts-�nder-t3���terms-of-�a��-as-provrd8-d <br /> rn-�e-f�orego�i�rg-ma-�urit�r-scizedl��c: All bonds maturing on or <br /> after March 1, 1991 are subject to redemption at the option of <br /> the City, in inverse numerical order on March l, 1990 and any <br /> interest payment date thereafter at par, accrued interest and a <br /> premium of 1.00% of the principal amount of each bond so redeemed. <br /> The bonds shall be numbered serially from 1 upwards in chronologi- <br /> cal order of maturity dates and shall be in the denomination fo <br /> $5, 000 each. <br /> • <br /> . -2- <br />