HomeMy Public PortalAbout2012-52 Resolution Providing for the Sale of General Obligation Capital Imp BondsMember Siitari introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2012-52
RESOLUTION PROVIDING FOR THE SALE OF $6,100,000
GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2012A
WHEREAS, the City Council of the City of Medina, Minnesota, has heretofore determined that
it is necessary and expedient to issue the City's $6,100,000 General Obligation Capital Improvement Plan
Bonds, Series 2012A (the "Bonds"), to finance a public works and police facility 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 October 2, 2012, 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.
Date: September 4, 2012.
T.M. Crosby, Jr., Mayor
ATTEST:
Scott T. Johnson, City Administrator -Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member Weir and
upon vote being taken thereon, the following voted in favor thereof:
Crosby, Martinson, Pederson, Siitari, Weir
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2012-52
September 4, 2012