HomeMy WebLinkAboutResolution No. 2017-121 Providing For Bond Sale 2017C � C
Councilmember Brindle introduced the following resolution and moved its adoption:
RESOLUTION NO. 2017-121
RESOLUTION PROVIDING FOR THE SALE OF $9,480,000
GENERAL OBLIGATION CIP REFUNDING BONDS, SERIES 2017C
A. WHEREAS,the City Council of the City of Edina,Minnesota has heretofore determined that it is
necessary and expedient to issue the City's$9,480,000 General Obligation CIP Refunding Bonds,
Series 2017C (the"Bonds"),to execute a current refunding of the 2019 to 2030 maturities of its
General Obligation CIP Bonds, Series 2009A; and
B. WHEREAS, the City has retained Ehlers&Associates, Inc., in Roseville, Minnesota("Ehlers"), as its
independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60,
Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as
follows:
1. Authorization; Findinss. The City Council hereby authorizes Ehlers to assist the City for the sale of
the Bonds.
2. Meeting, Proposal Opening. The City Council shall meet at 7:00 p.m. on November 21, 2017, for the
purpose of considering 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
Bonds and to execute and deliver it on behalf of the City upon its completion.
Adopted this 8"'day of November, 2017.
The motion for the adoption of the foregoing resolution was duly seconded by City Council Member
Fischer and, after full discussion thereof and upon a vote being taken thereon,the following City Council
Members voted in favor thereof: Brindle, Fischer, Staunton Stew rt, Hovland
and the following voted against the same: none
Whereupon said resolution was declared duly passed and adop e .
Mayor
Attest:
ity Clerk
CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov 9 952-927-8861 . Fax 952-826-0390