HomeMy Public PortalAbout2007-060 Resolution Providing for the Sale of General Obligation Water Revenue BondsMember Weir introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2007-60
RESOLUTION PROVIDING FOR THE SALE OF
$4,395,000 GENERAL OBLIGATION WATER REVENUE BONDS, SERIES 2007A
WHEREAS, the City Council of the City of Medina, Minnesota, has heretofore determined that it is
necessary and expedient to issue the City's $4,395,000 General Obligation Water Revenue Bonds, Series
2007A (the "Bonds"), to finance water 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 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 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 7:00 pm on December 4, 2007 for the
purpose of considering sealed 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: November 6, 2007
Attest:
Chad M. Adams, City Administrator - Clerk
OU-A_
Carolyn Smith, EYcting-Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member Johnson upon vote
being taken thereon, the following voted in favor thereof
Smith, Weir, Johnson, Cavanaugh
And the following voted against same: (Absent: Crosby)
None
Whereupon said resolution was declared duly passed and adopted.
Resolution 2007-60
November 6, 2007