HomeMy Public PortalAbout2016-052 Resolution Providing for Sale of $1,280,000 General Obligation Refunding Bonds; Series 2016AMember Anderson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2016-52
RESOLUTION PROVIDING FOR SALE OF $1,280,000 GENERAL OBLIGATION
REFUNDING BONDS; SERIES 2016A
WHEREAS, the City Council of the City of Medina, Minnesota has heretofore determined that it
is necessary and expedient to issue the City's $1,280,000 General Obligation Improvement Bonds, Series
2016A (the "Bonds"), to advance crossover refund the outstanding maturities of the City's General
Obligation Bonds, Series 2008A for interest cost savings; and
WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"),
as its independent municipal 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 municipality with
the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 P.M. on July 19, 2016, 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: June 21, 2016
Bob Mitchell, Mayor
Attest:
44
Scott T. Johnson, Ci Administrator — Deputy Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member Pederson 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 2016-52
June 21, 2016