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PROPOSED RESOLUTION
RESOLUTION AUTHORIZING THE ISSUANCE AND AWARDING THE SALE OF $2,180,000 GENERAL OBLIGATION UTILITY REVENUE BONDS, SERIES 2026A AND PLEDGING FOR THE SECURITY THEREOF NET REVENUES
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This proposed resolution issues $2,180,000 in General Obligation Utility Revenue Bonds, Series 2026A, to fund the replacement of water and sewer lines as part of the MnDOT Highway 75 reconstruction project. The bonds will be secured by net revenues from the City’s water and sewer utilities, with the City’s full faith and credit pledged should those revenues be insufficient. Northland Securities solicited proposals for the bond sale, and the resolution awards the bonds to the lowest responsive purchaser and authorizes all necessary financing actions.