HomeMy WebLinkAboutCity Council Resolution 1993-638•
CITY OF PLYMOUTH
RESOLUTION NO. 93-638
RESOLUTION RELATING TO THE ISSUANCE OF CERTAIN TAXABLE
GENERAL OBLIGATION TAX INCREMENT REFUNDING BONDS
BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota
(the "City"), as follows:
1. Authorization and Finding: It is hereby found, determined and declared that
it is necessary and expedient to the sound financial management of the City, for the
City to refund prior to their stated maturity the City's Taxable General Obligation Tax
Increment Bonds of 1988 (the "Prior Bonds").
2. Sale of Bonds: In order to provide revenues to refund the Prior Bonds, the
City will issue its Taxable General Obligation Tax Increment Refunding Bonds, Series
1993C (the "Bonds") in the anticipated principal amount of $895,000. The Bonds will
be issued, sold and delivered in accordance with the Terms of Proposal attached hereto
as Exhibit A. Springsted Incorporated is hereby authorized to negotiate the issuance of
the Bonds on behalf of the City.
3. Award of Bonds: Consideration for award of the sale of the Bonds will be
by the City Council at 3:00 p.m. on Wednesday, November 17, 1993.
Adopted by the City Council on October 4, 1993.