20071105 - VIII-C-1 - Laserfiche WebLink

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F. WHEREAS, the following proposals were received, opened and recorded at the offices of Springsted Incorporated at 11:00 A.M. this same day: Bidder Interest Rate Net Interest Cost NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hastings, Minnesota, as follows: Acceptance of Proposal. The proposal of (the "Purchaser"), to purchase $360,000 General Obligation Equipment Certificates of Indebtedness, Series 2007C of the City {the "Certificates", or individually a "Certificate"), in accordance with the terms of proposal at the rates of interest hereinafter set forth, and to pay therefor the sum of $ ,plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted, and the Certificates are hereby awarded to said purchaser. The Finance Director is directed to retain the deposit of said purchaser and to forthwith return to the others making proposals their good faith checks or drafts. 2. Terms of Certificates. (a) Title; Original Issue Date; Denominations- Maturities. The Certificates shalt be titled "General Obligation Equipment Certificates of Indebtedness, Series 2007C", shall be dated November 15, 2007, as the date of original issue and shall be issued forthwith on or after such date as fully registered certificates. The Certificates shall be numbered from R-i upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity. The Certificates shall mature, without option of prepayment, on February 1 in the years and amounts as follows: Year Amount 2009 $65,000 2010 70,000 2011 70,000 2012 75,000 2013 80,000 (b) Book Entry Onl~System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository") will act as securities depository for the Certificates, and to this end: 2086205v1 2