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3 <br /> c.;,, . � <br /> 4r 3. ,: <br /> :.�: � . <br /> o,�. � � �T <br /> � r .� <br /> � -�. � <br /> � � �� � . � <br /> - . C ITY of ORONO <br /> � -- :- � <br /> , ti <br /> ti <br /> RESOLUTION OF THE CITY COUNCIL <br /> �L`9k'ESII�g�G NO. —� � � � . <br /> RESOLUTION AWARDING SALE OF$208,000 GENERAL <br /> OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, <br /> SERIES 2004, FIXING THE FORM AND SPECIFICATIONS <br /> THEREOF, PROVIDING FOR THEIR EXECUTION AND . <br /> DELIVERY, AND LEVYING TAX�S FOR THEIR PAYMENT <br /> i <br /> BE IT RESOLVED by the City Council of the City of Orono, Minnesota, as <br /> follows: <br /> 1. The proposal of Anchor Bank to purchase the $208,000 General Obligation <br /> Equipmeiit Certificates of Indebtedness, Series 2004 of the City is hereby found and determined to <br /> be a favorable proposal and shall be and is hereby accepted, said proposal being to purchase <br /> Certificates bear�ng interest at the rate of 1.50% and at a price of$208,000 plus accrued interest. <br /> • 2. To provide funds for the purpose of purchasing public safe ,ty vehicles and <br /> • road construction and maintenance equipment pursuant to the authority of Sectioii 412.301 and <br /> Chapter 475,Minnesota Statutes,the City shall forthwith issue its negotiable General Obligation <br /> Equipment Certificates of Indebtedness, Series 2004 (the"Certificates") in the aggregate <br /> principal amount of$208,000, to be dated April 12, 2004, to mature on April 12, 2005, to bear <br /> interest at the rate of 1.50%per annum,payable on October 12, 2004 and at maturity on April 12, ' <br /> 2005. All Certificates are without option of 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 /> � <br /> iTNITED STATES OF AMERICA <br /> STATE OF MINNESOTA <br /> COUNTY OF HENNEPIN <br /> CITY OF ORONO <br /> No. R-1 $208,000 <br /> GENERAL OBLIGATION <br /> � EQUIl'MENT CERTIFICATE OF INDEBTEDNESS, SERIES 2004 <br /> Interest Rate Maturitv Date of Ori�inal Issue � <br /> 1.50% April 12, 2005 April 12, 2004 <br /> • . <br /> Page 1 of 7 <br /> T <br />