HomeMy Public PortalAbout1993-013RESOLUTION NO. 93-13
Council Member John Ferris introduced the following resolution and
moved its adoption:
Resolution Providing for the Sale of
$2,000,000
General Obligation Tax Increment Bonds, Series 1993
A. WHEREAS, the City Council of the City of Medina, Minnesota, has heretofore determined
that it is necessary and expedient to issue the City's $2,000,000 General Obligation Tax
Increment Bonds, Series 1993 (the "Bonds"); and
B. WHEREAS, the City has retained Ehlers and Associates, Inc., in Minneapolis, 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 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 the time and place specified
in the Terms of Proposal, which will be included in the Official Statement, for the purpose
of considering sealed proposals for, and awarding the sale of, the Bonds. The City Clerk,
or designee, shall open proposals at the time and place specified in such Terms of
Proposal.
3. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully
set forth in the "Terms of Proposal.
4. 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.
The motion for the adoption of the foregoing resolution was duly seconded by Council
Member Ann Thies and, after full discussion thereof and upon a vote being
taken thereon, the following Council Members voted in favor thereof:
Councilmembers Ferris, Thies, Zietlow and Mayor Theis.
and the following voted against the same:
Absent: Councilmember Johnson.
Whereupon said resolution was declared duly passed and adopted.
Dated: April 6, 1993
None.
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