HomeMy Public PortalAbout1993-039Councilmember John Ferris introduced the following resolution
and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 93-39
RESOLUTION PROVIDING FOR THE SALE OF
$815,000
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1993
WHEREAS, the City Council of the City of Medina, Minnesota has
determined that it is necessary and expedient to issue the City's
$815,000 General Obligation Improvement Bonds, Series 1993 (the
"Bonds") , to finance the construction of various improvements in
the City; and
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 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 the
time and place specified in the Terms of Proposal as stated in
the Official Statement for the purpose of considering sealed
proposals for, and awarding the sale of the Bonds. The 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"
in the Official Statement and hereby approved and made a part
hereof.
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 Mayor Anne Theis and upon vote being taken thereon, the
following voted in favor thereof: Councilmembers Ferris, James
Johnson, Philip Zietlow and Mayor Theis.
and the following voted against the same: None.
Absent: Councilmember Ann Thies.
Whereupon said reolution was declared duly passed and adopted this
6th day of July, 1993.
ATTEST:
Fr: Karlson, Clerk -Treasurer
Anne E. Theis, Mayor