83-020 RES FES_ g3-20
EXTRACT OF MINUTES OF MEETING OF THE
CITY COUNCIL OF THE CITY OF
ELK RIVER, MINNESOTA
• HELD: NOVEMBER 7, 1983
Pursuant to due call and notice thereof, a
meeting of the City Council of the City of Elk River, Sherburne
County, Minnesota, was duly held at the City Hall of said City
on the 7th day of November, 1983, at o'clock _.M. for the
purpose of authorizing the negotiation of $165,000 General
Obligation Improvement Bonds of 1983 of said City.
The following members were present:
and the following were absent:
Member introduced the following
resolution and moved its adoption.
RESOLUTION AUTHORIZING THE
NEGOTIATION OF $165,000 GENERAL
• OBLIGATION IMPROVEMENT BONDS OF 1983
WHEREAS:
A. The City Council of the City of Elk River has
heretofore determined it is necessary and expedient to issue
$165, 000 General Obligation Improvement Bonds of 1983 (the
"Bonds") to finance the construction of various improvements in
the City; and
B. Pursuant to the provisions of Minnesota Statutes,
Chapter 475.60, Subdivision 2, the City Council has the
authority to negotiate the private sale of the Bonds without
complying with public sale requirements;
NOW THEREFORE BE IT RESOLVED by the City Council of
the City of Elk River, Minnesota as follows:
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1. The City Council does hereby appoint and authorize
Springsted Incorporated, in Saint Paul, Minnesota, its agent to
negotiate the private sale of the Bonds, provided, that the
negotiation of the sale of the Bonds shall not be effective
until the City Council ratifies the award of the Bonds.
The motion for the adoption of the foregoing
resolution was duly seconded by member and upon
vote being taken thereon, the following voted in favor thereof:
and the following against the same:
Whereupon said resolution was declared duly passed
and adopted.
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