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WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
RESOLUTION 99-99
RESOLUTION AUTHORIZING NEGOTIATED SALE
OF $1,025,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1999
MOTION BY: Kedrowski
SECOND BY: Petersen
The City of Prior Lake has conducted the appropriate public hearings to consider
comments regarding those public improvement projects deemed necessary for
construction in 1999; and
The City Council has determined that such construction projects scheduled for 1999
are consistent with the City's Capital Improvement Plan (CIP); and
The City of Prior Lake has complied with all requirements of Chapter 429 of
Minnesota State Statutes with respect to special assessment improvement projects;
and
The City of Prior Lake has awarded the construction bids for Project 99-11 Candy
Cove/Lakeside Manor for street reconstruction and for Project 99-13 North Shore
Oaks 1 st Addition for the installation of sewer and water; and
It is necessary to issue general obligation bonds for the purpose of financing these
construction improvements and the city's cooperative share for the 4 lane divided
highway upgrade improvements for CSAH 42 between McKenna Road and CSAH
83.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, that it has
determined it is in the best interest of the City of Prior Lake to enter into a negotiated sale with Juran &
Moody, in an effort to obtain the lowest interest rate possible, for the issuance of $1 ,025,000 of general
obligation improvement bonds.
Passed and adopted this 20th day of September, 1999.
{Seal}
YES NO
Mader X Mader
Kedrowski X Kedrowski
Petersen X Petersen
Schenck X Schenck
Wuellner X Wuellner
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 1 Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
R\COUNCIL IRESOLUTI\FINARES\99\99-99 .DOC