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�, • ' <br /> • ' ,� <br /> ' ' RESOLUTION #1431 <br /> • Councilman Butler introduced the <br /> following writeen resolution and moved its adoption: <br /> A RESOLUTION PROVIDING FOR THE ISSUANCE <br /> AND SALE OF $475,000 GENERAL OBLIGATION <br /> IMPROVEMENT BONDS OF 1982 . <br /> BE IT RESOLVED By the City Council of the City of Orono, <br /> Minnesota, Hennepin County, Minnesota, as follows: <br /> 1. It is hereby determined: <br /> (a) That the following assessable, public improvements <br /> (the "Improvements"a have been made, duly ordered <br /> or contracts let for the construction thereof, by <br /> the City purs'u�nt to the provisions of Minnesota , <br /> Statutes, Chapter 429: <br /> Project Name Estimated Cost <br /> • Sanitary Sewer Trunk $142,727 <br /> Sanitary Sewer Lateral 84,495 <br /> Water Main 31,852 <br /> Storm Sewer 38 ,951 <br /> Streets - Navarre 45,497 <br /> Streets - Blaine & Co. Rd. 15 64,721 <br /> Total Construction Costs $408 ,-243 <br /> Contingencies 19,444 <br /> Capitalized Interest (net after <br /> esti�ted investment earnings) 38 ,000 <br /> Sub-total � $4b5, 687 <br /> Plus: Allowance for discount <br /> bidding (Bonds issued pursuant <br /> to M.S. Section 475. 56) 9 ,313 <br /> Total Bond Issue $475,000 <br /> (b) That it is necessary and expedient to the sound <br /> financial management of the .affairs of the City <br /> to issue $465,687 General Obligation Improvement <br /> Bonds of 1982, (the "Bonds") to provide financing <br /> for the Improvements. In order to provide in part <br /> • <br />