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<br />RESOLUTION #94
<br />• A RESOLUTION PROVIDING FOR SALE OF
<br />$47,000 MUNICIPAL PARKING LOT BONDS
<br />BE IT RESOLVED by the Village Council of the Village of
<br />Orono, Minnesota, as follows:
<br />1. It is hereby found and determined that it is necessary
<br />and expedient to issue and offer at public sale $47,000 Municipal
<br />Parking Lot Bonds for the purpose of financing the municipal parking
<br />Lot improvement ordered by Resolution No. 57 adopted on June 29,
<br />1964.
<br />! 2. This Council -shall meet at the time and place specified
<br />in the form of notice hereinafter contained for the purpose of re-
<br />ceiving, opening and considering sealed bids for and awarding the
<br />sale of said bonds, and the Village Clerh is hereby authorized and
<br />directed to cause notice of the time, place and purpose of said
<br />meeting to be published in the Commercial Nest, at 1inneapolis,
<br />Minnesota, not less than ten days before the date of said meeting,
<br />which notice shall be in substantially the following form:
<br />NOTICE OF SALE
<br />$47,000 MUNICIPAL PARKING LOT BONDS
<br />VILLAGE OF OR.ONO, MINNESOTA
<br />NOTICE IS HEREBY GIVEN that the Village Council of the
<br />Village of Orono, Hennepin County,Minnesota, will meet at the Village
<br />Hall in said Village on Monday, May 10, 1965, at 8:00 b!.clgck P.M.,
<br />Central Standard Time, to open, receive and consider sealed bids for
<br />and award the sale, of $47 000 negotiable coupon general obligation
<br />Municipal Parking Lot Bonas,of said Village, to be issued under
<br />authority of Chapter 459, Minnesota Statutes 1961, for the purpose of
<br />-financing the cost of acquiring and improving a municipal parking
<br />lot. Said bonds will be dated June 1, 1965,.in the denomination of
<br />$1,000 each, will bear interest at a rate or'rates to be designated
<br />• by the successful bidder, payable on March 1, 1966, and semiannually
<br />thereafter on September 1 and March 1 of each year, and will mature
<br />serially on March 1, in the amount of $3,000 in each of the years
<br />1967 through 1980, and $5,000 in 1981. Bonds of said issue having
<br />• stated maturity dates later than March 1, 1974, will be each subject
<br />to call for redemption on said date or any subsequent interest pay-
<br />'ment date, at a price of 100-1/2, at the option of the Village.
<br />Principal and interest will be made payable at any suitable national
<br />or state bank in the United States designated by the successful
<br />bidder within 48 hours after award of sale. The Village will furnish,
<br />without cost to the purchaser and within 40 days after award of sale,
<br />the printed alid""executed bonds and the unqualified approving legal
<br />opinion *of Messrs. Dorsey, Owen, Marquart, Windhorst & West, of
<br />Minneapolis, Minnesota, together with the customary certificate as to
<br />absence of litigation. Delivery will be made without cost to the
<br />purchaser anywhere in Minnesota.
<br />• (continued)
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