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r ' <br /> O� - <br /> � �/ <br /> • O �, O <br /> - 1 � CITY o� ORONO <br /> ,� �� � --�.,.. � . � <br /> ti <br /> '�,,�L > �G� <br /> RESOLUTION OF THE CITY COUNC�L <br /> �kESI3�� NO. � � � , <br /> RESOLUTION AWARDING SALE OF$75,000 GENERAL � <br /> OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, <br /> SERIES 2003, FIXING THE FORM AND SPECIFICATIONS . <br /> THEREOF, PROVIDING FOR THEIR EXECUTION AND � <br /> DELIVERY,AND LEVYING TAXES FOR THEIR PAYMENT <br /> BE IT RESOLVED by the City Council of the City of Orono,Minnesota, as <br /> follows: <br /> 1. The proposal of Anchor Bank,N.A. to purchase the $75,000 General <br /> Obligation Equipment Certificates of Indebtedness, Series 2003 of the City is hereby found and <br /> determined to be a favorable proposal and shall be and is hereby accepted, said proposal being to <br /> purchase Certificates bearing interest at the rate of 1.40% and at a price of$75,000 plus accrued <br /> interest. � <br /> • 2. To provide funds for the purpose of purchasing public safety vehicles <br /> pursuant to the authority of Section 412.301 and Chapter 475,Minnesota Statutes, the City shall <br /> forthwith issue its negotiable General Obligation Equipment Certif cates of Indebtedness, Series <br /> 2003 (the"Certificates") in the aggregate principal amount of$7�,000,to be dated March 17, <br /> 2003, to mature on March 17, 2004, to bear interest at the�rate of 1.40%per annum,payable on <br /> September 17, 2003 and at maturity on March 17, 2004. All Certificates are without option of <br /> prior payment. _ <br /> 3. The Certificates,the Registrar's Authentication Certificate and the form of <br /> assignment and on the reverse side thereof shall be in substantially the following form: . <br /> � LTNITED STATES OF AMERICA � <br /> STATE OF MINNESOTA <br /> COUNTY OF HENNEPIN . <br /> CITY OF ORONO <br /> No. R-1 $75,000 . <br /> GENERAL OBLIGATION <br /> EQUIPMENT CERTIFICATE OF INDEBTEDNESS, SERIES 2002 � <br /> Interest Rate Maturi Date of Ori�inal Issue <br /> • 1.40% March 17, 2004 March 17, 2003 <br />