83-34
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CERTIFICATION OF MINUTES RELATING TO
$ 5,184,620.60GENERAL OBLIGATION REFUNDING TAX INCREMENT
BONDS OF 1983
Issuer: City of Chanhassen, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A
held on Wednesday, July 20, 1983, at 7:30
Hall.
special meeting
P.M. at the City
Members present: Pat Swenson, Carol Watson, Mayor Pro Tern Dale Geving
Members absent: Cl ark Horn, Mayor Tom Hami lton
Documents Attached:
Minutes of said meeting '(pages) :
RESOLUTION NO.
83-34
RESOLUTION AWARDING THE SALE OF $ 5,184,620.60
GENERAL OBLIGATION REFUNDING TAX INCREMEN~
BONDS OF 1983
I, the undersigned, being the duly qualified and
acting recording officer of the public corporation issuing
the bonds referred to in the title of this certificate,
certify that the documents attached hereto, as described
above, have been carefully compared with the original records
of said corporation in my legal custody, from which they have
been transcribed; that said documents are a correct and com-
plete transcript of the minutes of a meeting of the governing
body of said corporation, and correct and complete co?ies of
all resolutions and other actions taken and of all documents
approved by the governing body at said meeting, so far as
they relate to said bonds; and that said meeting was duly
held by the governing body at the time and place and was
attended throughout by the members indicated above, pursuant
to call and notice of such meeting given as required by law.
WITNESS my hand
this 25th day of July
officially as such recording officer
, 198L2
/JQa!)
Signature
Donald W. Ashworth, City Manager
Name and Title
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The City Manager presented affidavits showing publication of
a notice of sale of up to $5,185,OOO General Obligation Refunding
Tax Increment Bonds of the City, as authorized by the City Council
which were examined and found satisfactory and directed to bp.
placed on file.
The City Manager reported that 2
bonds had been received. A tabulation
recorded is attached hereto.
bids for the purchase of said
of the bids receiveo and
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NEWMAN & ASSOC IATES
KIRCHNER MOORE
Offering Price:
9.00% - 2-1-84 .
9.00% - 8-1-84
9.00% - 6-1-85
9.00% - 8-1-85
9.0m - 2-1-86
9.00% - 8-1-86
9.00% - 2-1-87
9.00% - 8-1-87
9.00% - 2-1..88
9.00% - 8-1 -88
9.00% - 2-1-89
~.OO% - 8-1-89
9.00% - 2-1-90
9.00% - 8-1-90
9.0m - 2-1-91
8.40% - 8-1-91
8.60% - 2-1-92
8.60% - 8-1-92
8.75% - 2-1-93
8.75% - 8-1-93
$153,382 - 2-1-94
144,490 - 8-1-94
142,814 - 2-1-95
136,176 - 8-1-95
135,956 - 2-1-96
129,637 - 8-1-96
125,091 - 2-1-97
117,853 - 8-1-97
117,121 - 2-1-98
111 ,544 - 8-1 -98
43,157 - 2 -1-99
27,401 - 8-1-99
PURCHASE PRICE: $5,184,620.60
(9.3223%)
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Councilmember
Pat Swenson
introduced the following
resolution and moved its adoption:
RESOLUTION NO.
83-34
RESOLUTION AWARDING THE SALE OF $ 5,184,620.60
GENER~L OBLIGATION REFUNDING TAX INCREMENT
BONDS OF 1983
BE IT RESOLVED by the City Council of the City of
Chanhassen, Minnesota, that having considered all bids received
pursuant to published notice of sale for the purchase of up to
$5,185,000 General Obligation,Refunding Tax Increment Bonds of
1983, it is hereby found and determined that the most favorable
of such bids is that of Newman & Assoc. , of Denver
Colorado , and associates named therein, to purchase
bonds in the principal amount of $ 5,184,620.60 (said final principal
amount having been established by the City in accordance with
the notice of sale) at a price of $ 5,184,620.60 plus .a.ccrued
interest, said bonds to mature in the following years and amounts
and to bear interest at the following rates:
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Maturity Date Principal Amount Interest Rate Maturity Amount
2-1-84 $ 65,000 9.00% $ 65,000
8-1- 84 70,000 9.00 70,000
2-1-85 80,000 9.00 80,000
8-1-85 80,000 9.00 80,000
2-1-86 90,000 9.00 90,000
8-1-86 95,000 9.00 95,000
2-1- 87 11 0 ,000 9.00 11 0 ,000
8-1- 87 120,000 9.00 120,000
2-1- 8 8 135,000 9.00 135,000
8-1-88 140,000 9.00 140,000
2-1- 89 205,000 9.00 205,000
8-l-89 210,000 9.00 210,000
2-1-90 235,000 9.00 235,000
8-1-90 245,000 9.00 245,000
2-1-91 270,000 9.00 270,000
8-l-91 290,000 8.40 290,000
2-1-92 310,000 8.60 310,000
8-1-92 320,000 8.60 320,000
2-1-93 360,000 8.75 360,000
8-1-93 370,000 8.75 370,000
2-1-94 1 5 3 , 381 . 51 N/A 415,000
8-1-94 144,489.74 N/A 410,000
2-1-95 142,814.45 N/A 425,000
8-l- 9 5 136,175,95 N/A 425,000
2-l-96 135,955.51 N/A 445,000
8-1-96 129,636.51 N/A 445,000
2-1-97 125,090.58 N/A 465,000
8-1-97 117,852.92 N/A 460,000
2-1-98 117 , 120.96 N/A 480,000
8-1-98 111 ,544.32 N/A 480,000
2-1-99 43,157.01 N/A 195,000
8-1-99 27,401.14 N/A 130,000
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The Mayor and Ci ty Manager are authorized and directed to make
and execute a contract on the part of the City for the sale
of the bonds in accordance with this proposal; the good faith
check furnished by the successful bidder shall be retained by
the City Manager in accordance with th~notic. of sale;~d thej
checks of other bidders shall be retur:e~~m fO~'t~.. /
Approved: .', ~ t-~;/ L--..
Mayor
Attest:
The motion for the adoption of the foregoing resolution
was duly seconded by Councilmember
Carol Watson
, and upon
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vote thereon, the following voted in favor thereof:
Carol Waton, Pat Swenson and Dale Geving
and the following voted against the same:
None
whereupon said resolution was declared duly passed and adopted.