HomeMy Public PortalAbout2013-14 Resolution Providing for Sale of General Obligation Refunding BondsMember Martinson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2013-14
RESOLUTION PROVIDING FOR THE SALE OF $2,785,000 GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2013A
WHEREAS, the City Council of the City of Medina, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $2,785,000 General Obligation
Refunding Bonds, Series 2013A (the "Bonds"), to provide funds sufficient for a current
refunding on February 1, 2016 of all of the City's callable General Obligation Water Revenue
Bonds, Series 2007A; and
WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota
("Ehlers"), as its independent financial advisor for the Bonds and is therefore authorized to solicit
proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Medina,
Minnesota, as follows:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for
the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 p.m. on April 2, 2013, for
the purpose of considering sealed proposals for and awarding the sale of the Bonds.
3. Official Statement. In connection with said sale, the officers or employees of the City are
hereby authorized to cooperate with Ehlers and participate in the preparation of an official
statement for the Bonds and to execute and deliver it on behalf of the City upon its
completion.
Dated: March 5, 2013.
th Weir, Acting Mayor
ATTEST:
Scott T. Johnson, City Administrator -Clerk
Resolution No. 2013-14
March 5, 2013
The motion for the adoption of the foregoing resolution was duly seconded by member Anderson
and upon vote being taken thereon, the following voted in favor thereof:
Anderson, Martinson, Pederson, Weir
And the following voted against same: (Absent: Crosby)
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2013-14 2
March 5, 2013