HomeMy Public PortalAbout2015-037 Resolution Providing for the Sale of G.O. Improvement BondsMember Martin introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2015-37
RESOLUTION PROVIDING FOR THE SALE OF $1,765,000 GENERAL OBLIGATION
IMPROVEMENT BONDS, SERIES 2015A
WHEREAS, the City Council of the City of Medina, Minnesota has heretofore determined that it
is necessary and expedient to issue the City's $1,765,000 General Obligation Improvement Bonds, Series
2015A (the "Bonds"), to finance the 2015 Tower Drive and Hamel Road Improvement Projects in the
City; and
WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"),
as its independent financial advisor for the Bonds 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 assist the [Jurisdiction Type]
for the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 P.M. on June 2, 2015, for the
purpose of considering 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: May 5, 2015.
Bob Mitchell, Mayor
Attest:
Scott T. Johnson, Cify Administrator -Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member Cousineau and
upon vote being taken thereon, the following voted in favor thereof:
Anderson, Cousineau, Martin, Mitchell, Pederson
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution 2015-37
May 5, 2015