HomeMy WebLinkAbout87-0456 ,
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EXTRACT OF �MYNUTES OF A `,MEETING - OF THE
CITY COUNCIL OF THE CITY OF
PRIOR LAKE, MIN4kSOTA
HELD; August 17, l �t987
rPursuant to due call' and notice thereof, a _
meet4no of the City of the Ciiy of Prior Leke, Scott
Country, Minnesota, wis duay : held at Lhe City ,Hall in said City
,on,MonalAy;• the 17th day of Auqust, 19$7, it 7: o'clock
E.M. o,c the purpose ins autho ' h i ssuance of,
P, p part of eutho. ' L
and•awiiding the sale of, $225,000 General Z?blioation
Improvement Bonds of of the City.
Ther followinq,.members were present:' ` Mayor Andrsn.
Council 1itxBereld, Larson, Scott and White
and thefollowfnq were .absent: None
3 a Member introduced the follow no
resolution - i ts moved is a�ptIon
RESOLUTION NO. 81 -45 {;
RESOLUTION pROVI`DING tOR THE
15UANCZ AND SALE OF
$225,000 GENERAL OH IMPROVEMENT.
° BONDS 00 1987,r
AND LEVYING A -TAX FOR TAE THEREOF
WHEREAS, The City Council the City of Prior Lake,`
Minnesota (the "City "), has heretofore determined and declared
that it'is,. ndcesaary , and expedient to issue $22S 000 General
Obligation Iieprovemint. Bonds of 19$7 of the ; City, pucsuan't to
Minnesota Statutes,. Chapters 4�9 and•4;75, to finance tha
0 construction of various improvements in the City (
r:ferred to as thw 1*0rovementb")i and
WHEREAS,�No other ob140 ibns-have been sold
pursuank to a pr, *'sale within the twelve l'12'1
•calendar months Qf, the date..heroof wNj6h when eo binad with
thiis issue would, „exceed the $1,.7O0 U00 Yimitat,ion,,on 4
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The City ;shall o44" ids ' b6st ortorts to coa p'ly with any federal t ,
proeedoa2 r` ;uieiwents' which aui a ! my -order .to e[lactuate.
i y PP Y �.
the d+ si 09% Ah- ' wade by this paragraph.,
Tat Prior:ResQlution
of Cit Hera Baton Twproven+t Bonds
the y govern +�9 0,
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`c! 1486 !`und. is hortsby s 1'eoerited to. the extsht necessary to
:provis hs - ar rah
t to' the o ot_paigp 1S o>' this
i'
i .oive'e�"t+
reooxbtion
;.:
X 25. t f any f section, , paragraph or
provi iq� °at this TO ut on sha ll boi to be, invalid or
,held
un4nfocc+ble hoc any rsazn; the invalldiYty oc
;4n�rn;isrcoabilit'ty io! soch soctic�n paragraph or rovision shill
rua� ahfec any of °Eho. ~:rat_ri9 p.roviaions of this resolution.
Z6 . HOW not Headings in this res�oluton. are';
for eonvev of r�f�rence' only and are not a part,
; included
r h, ane! sboll not ' -JOLt the weam inq of any
_
r Pro iion hareot
'The�isation tor,'th�t adoption. of the tore9oin9
resolution wai duty seconded by Nwaiber '' "' and,
y
�it�c a toll A ocussi+ar► thereof and upan. ng to on
theY6on, the - ' ollgvinq votod in avoc theroot; Ni, or�llndre�n.' f
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antl goliok`rtq aga.n No
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EXTRACT OF- ,MINUTES OF_A MEETING OF THE
p CITY COUNCIL Of' THE CITY OF
PRIOR LAKE, MINNESOTA
0
HELD: August 17, '1987
i
J
q Pursuant to:due call and notice thereof, a r egular
"
meeting of, the City Coyncil'of' the Ci °ty of "Prior Lake, Scott
County, Minnesota,, was duly _ held
}
>aL Lhe City, ball in said City;
on Monday', the 17th day of August'', 1987, at 7:30 r, oclock'
4 .
� s
P.M. for the purpose, in part of authorizing " issuance of
and awarding the sale of, $225,0.00 General,Obligation o
"'
Improvement Bonds - of 1 ,1987 of the City.
o
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Q
The following members were` present: Mayor Andres,
Council Members F#zgerald, Larson, Scot White
1
.*and
f ..
r'.
and,' the following were absent: None
Member Scott introduced the following
resolution and moved its adoption :,
y n'
RESOLUTION-No. 87 =45
R£SOLU'r�I(QN PROVIDING FOR THE
'
*"
ISSUANCE AND SALE'�OF
$2,25','000 GENER�AL'OBLIGATION IMPROVEMENT
BONDS 'OF 19s�
AND °LEVYING A TAX fQR THE PAYMENT THEREOF
t
WHEREAS,oThe City Counci of the City of Prior Lake,'
Mi.nrte:ota (the City
".
) , has
is
eretofare determined and declared
0aient
j
a,
necessary and eft
Obligation Improvement Bohc�
to issue= $225, 000 General
of 1987 of the City, to
pursuant
Minnesota Statutes, Chapters,; 429 and 475, to finance the
"
canstr�ct=ion of various `improvement in the'City (hereinafter
ree,rred to as the`
>" Improver' ts'� )'; and
,
WHER +E'A ° °$', ° °eNo other oblibations have be n
*Q
pwr , the last, twelve ;uart5t ;to a private'sale within (12)
calendar month 0f the date hereof which
when combined with
th`ia. i'ssUe O.Ou -ld, exceed - the 20000
. 0 i
.`l mutation` on
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_ �"b'MMa`YrMw.M' Mrt. . 111. 1•. � l �
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The City shall use its best efforts to comply with any federal
procedural requirements which may apply in order to effecLua�te
the-designation made by this paragraph.
29 Supplemental Resolution The Prior Resolution
of the City; governing the General Obligation improvement Bonds
of 1986 Fund is hereby supplemented to the extent necessary to
give effect to +the provisions of paragraph 15, of this
resolution;.
6 25. SeyerabilitV if any section, paragraph or
provision of this resolution shall be held to be invalid or
unenforceable for.�any reason, the invalidity or
unenforceability of such section, paragraph or provision shall
not affect any of the remaining provisions of this resolution.
26. Headings Headings in this resolution are'
included for convenience of reference only and' are" not :a
hereof, and shall not limit or,def,ine the meaning of "any
prov'i'sion• •hereof .
The motion for the adoption of the foregoing
resolution was duly seconded by member t ld and,
°� fter a full discussion thereaE and upon, vote °" eing taken
t Hereon, the following voted in f thereof Mayor ghdren,
Coun�i�l Members Fitzgerald,. Larson, `Scott.'and White
4 0
c
and th'6jol,lowing voted against the same: - None
. a
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Whereupon said resolution was declared duly.passed
and adopted.
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