HomeMy Public PortalAbout2020-79 Resolution Providing for the Sale of $6,040,000 General Obligation Refunding Bonds, Series 2020AMember DesLauriers introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 2020-79
Resolution Providing for the Sale of
$6,040,000 General Obligation Refunding Bonds, Series 2020A
WHEREAS, the City Council of the City of Medina, Minnesota has heretofore determined that it
is necessary and expedient to issue the City's $6,040,000 General Obligation Refunding
Bonds, Series 2020A (the "Bonds"), to refund the outstanding maturities of the General
Obligation Improvement Plan Bonds, Series2017A and the 2022 through 2034 outstanding
maturities of the General Obligation Capital Improvement Plan Bonds, Series 2012A for
interest cost saving; 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 City for the
sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 p.m. on November 17,
2020, 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: October 20, 2020.
By:
Kathleen Martin, Mayor
Attest:
By:
6"tob
Jodi i Gallup, City Clerk
Resolution No. 2020-79
October 20, 2020
The motion for the adoption of the foregoing resolution was duly seconded by member Martin and
upon a vote being taken thereon, the following voted in favor thereof:
Albers, Anderson, DesLauriers, Martin, Pederson
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2020-79 2
October 20, 2020