HomeMy Public PortalAbout2012-53 Resolution Providing for Sale of General Obligation Refunding BondsMember Siitari introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2012-53
RESOLUTION PROVIDING FOR THE SALE OF $2,930,000 GENERAL OBLIGATION
REFUNDING BONDS, SERIES 2012B
WHEREAS, the City Council of the City of Medina, Minnesota, has heretofore determined that
it is necessary and expedient to issue the City's $2,930,000 General Obligation Refunding Bonds, Series
20121B (the "Bonds"), to provide funds sufficient for a current refunding on February 1, 2013 of all of
the City's callable General Obligation Tax Increment Bonds, Series 2005C; and an advanced crossover
refunding on February 1, 2014, of all of the City's callable General Obligation Water Revenue Bonds,
Series 2005A; 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. Crosb , Jr., Mayor
Y Y
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
Resolution No. 2012-53
September 4, 2012
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2012-53 2
September 4, 2012