02-002 EDA
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ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SHOREWOOD
RESOLUTION NO. 02-002
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF
PUBLIC PROJECT REVENUE BONDS (pUBLIC SAFETY PROJECT), SERIES 2002
AND
PUBLIC PROJECT REVENUE BONDS (pUBLIC SAFETY PROJECT), SERIES 2003
BE IT RESOLVED By the Board of Commissioners of the Shorewood Economic
Development Authority (Authority) as follows:
1. It is hereby determined that:
(a) The Authority is authorized under Minnesota Statutes, Chapters 469 and 475,
and Minnesota Statutes 465.71 (collectively, Act) to sell its lease purchase revenue bonds.
(b) The Authority has determined to sell its lease purchase revenue bonds to finance
the following approximate project costs (Improvements):
Proiect Designation & Description:
Fire Station (East Side)
Fire Station (West Side)
Police Station
Total Proiect Cost
$ 2,060,000
5,060,000
5,245,000
Net Bond Issue
$ 12,365,000
(c) It is necessary and expedient to the sound financial management of the affairs of
the Authority to issue its Public Project Revenue Bonds (Public Safety Project), Series 2002 in the
approximate amount of $10, 0 001 OOOand its Public Project Revenue Bonds (Public Safety Project),
Series 2003 in the approximate amount of $ 2.)b~ on /) (Bonds) pursuant to the Act to provide
financing for the Improvements.
2. Juran and Moody, a division of Miller Johnson Steichen Kinnard, is authorized and
directed to obtain proposals for sale of the Bonds for consideration by the Authority.
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. Approved by the .Board of Commissioners9.t.~ E~,sm"omic Development Authority for
the CIty of Shorewood thIS 22nd day of July, 2002./ / /
L,C{
,/
President
Attest: