Resolution - 1998 - 08 - Authorizing The Sale Of Go Bonds Series 1998 In The Amount Of 2,850,000 To Successful Bidder - 04/22/1998
RESOLUTION NO. 98-8
A RESOLUTION OF THE CITY OF EAGLE, ADA COUNTY, IDAHO, AUTHORIZING
THE SALE OF GENERAL OBLIGATION BONDS, SERIES 1998, IN THE
AGGREGATE PRINCIPAL AMOUNT OF $2,850,000, TO THE SUCCESSFUL
BIDDER; DIRECTING THE PREPARATION, EXECUTION, AND DELIVERY OF THE
BONDS; PROVIDING FOR RELATED MATTERS; AND PROVIDING AN EFFECTIVE
DATE
WHEREAS, the City of Eagle (the "City"), Ada County, Idaho,
is a municipal corporation duly organized and operating under the
laws of the State of Idaho; and
WHEREAS, the City Council (the" Council" ) of the City, by
adoption of Ordinance No. 320 on March 24, 1998, has authorized
the issuance and sale of the City of Eagle General Obligation
Bonds, Series 1998 (the "Bonds"), in the aggregate principal
amount of $2,850,000, and has directed the giving of Notice of
Sale thereof; and
WHEREAS, at the time and place fixed in the Notice of Sale
for receiving bids for the purchase of the Bonds, bids were
received and publicly opened, examined, and declared; and
WHEREAS, the Council now desires to confirm the sale of the
Bonds to the successful bidder and to direct the preparation,
execution, and delivery of the Bonds, all as provided in
Ordinance No. 320, adopted on March 24, 1998.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF EAGLE, IDAHO, as follows:
Section 1: The General Obligation Bonds, Series 1998, of
the City, in the aggregate principal amount of $2,850,000 (the
"Bonds"), are hereby ordered sold to:
as the responsible bidder making the best bid, with interest to
the date of delivery of the Bonds, the sale to be subject to all
of the terms and conditions set forth in the Notice of Sale of
the Bonds and in the successful bid, and the Mayor and City Clerk
are hereby authorized to execute an acceptance of the successful
bid. All other bids are hereby rejected.
Section 2: The City's Bond Counsel is hereby authorized and
directed to have the Bonds printed or prepared forthwith, in
accordance with the successful bid, and the Bonds shall be
executed, authenticated, and delivered by the City in accordance
Page 1
with the provisions of Ordinance No. 320, adopted on March 24,
1998, on receipt of the amount therefor as above stated, with
accrued interest, if any, and upon the performance of the
conditions contained in the accepted bid and the Notice of Sale
of the Bonds. The approving legal opinion of Bond Counsel shall
be furnished to the purchaser of the Bonds at the time of
delivery of the Bonds.
Section 3: u. S. Bank National Association, Boise, Idaho,
has heretofore been appointed as bond registrar, transfer agent,
and authenticating and paying agent with respect to the Bonds,
and shall perform the duties set forth in Section 7 of Ordinance
No. 320.
Section 4: This Resolution shall take effect and be in
force immediately upon its passage and approval.
DATED this 22nd day of April, 1998.
CITY OF EAGLE
Ada Count, Idaho
"
Mayor
ATTEST:
l!¿ ~ k Ltit
-City tlerk J"
-""""'..
( ,;~ Of rBlJ ~..
l ~~ .""-'.....V( ~~
¡ tJ/1-fOR~;"..~'
.. e t,° ~ - "
: *: -.- J* i
\ \~SEALø i
\.~. '8"?1.fuJtt:~~~o.l
~ .ou..V."";:'\.-: ~
#.t.'t.:e OF \'O~~...."
"~"7INU.I.
Page 2