HomeMy Public PortalAbout2010-025 Resolution Providing for the Sale of General Obligation Imp. BondsMember Weir introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2010-25
RESOLUTION PROVIDING FOR THE SALE OF $315,000
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2010A
WHEREAS, the City Council of the City of Medina, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $315,000 General Obligation
Improvement Bonds, Series 2010A (the "Series 2010A Bonds"), to finance the Holy Name Drive
and Pioneer Trail Street 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 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 7:00 p.m. on May 11,
2010, 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: April 6, 2010.
T.M. Crosby, Jr., M or
Attest:
Chad M. Adams, City Administrator -Clerk
Resolution No. 2010-25
April 6, 2010
The motion for the adoption of the foregoing resolution was duly seconded by member Smith
and upon vote being taken thereon, the following voted in favor thereof:
Weir, Smith, Crosby, Johnson, Siitari
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2010-25 2
April 6, 2010