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r ' ' , . , RESOLUTION #2676 9 � Extract of Minutes of Meeting of the City Council of the City of Orono Hennepin County, Minnesota Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Orono, Minnesota, was duly held in the City Hall, in said City on Monday, August 14, 1989, at 7: 00 o 'clock p.m. The following members were present: Mayor James R. Grabek, Councilmembers J. Diann Goetten, Barbara Peterson and Edward Callahan. and the following were ab5ent: Councilmember Alan Nettles. * � � * * * �r * * . Member Mayor Grabek introduced the • following written resolution and moved its adoption: RESOLUTION TO ISSUE AND SELL $2,300, 000 GENERAL OBLIGATION WATER AND SEWER REVENUE BONDS, SERIES 1989 BE IT RESOLVED by the City Council of the City of Orono, Minnesota, as follows: l. The City Council deems it necessary and eapedient to issue and sell $2,300, 000 General Obligation Water and Sewer Revenue Bonds, Series 1989, to provide funds to replace lift stations Nos . 10 and 43 with gravity lines and new capacity and to construct the following Highway No. 12 � improvement projects : Sewer Part I (new main extension) , Sewer Part II (trunk capacity improvements) , Water Part I (trunk extension) , Water Part II (well/pump/structure) and Water Part III (new water tower) , together with capitalized interest and related • fiscal, legal and administrative costs, all pursuant to Minnesota Statutes, Chapter 429 and Section 444 . 075 and also to provide additional interest in the amount of $44, 650 in the form of additional obligations as authorized by Minnesota Statutes, Section 475 .56 . 2 . Sealed bids for the Bonds will be received at the • offices of Ehlers and Associates, Inc. , financial consultants to the City, until 11:00 o 'clock a.m. on Monday the llth day of