HomeMy WebLinkAboutResolution No. 2021-94 Approving Sale of Refunding GO Bonds
Resolution No. 2021-94
Resolution Providing for the Sale of
$4,620,000 General Obligation Refunding Bonds, Series 2021B and
$2,430,000 General Obligation Recreational Revenue Refunding Bonds, Series 2021C
WHEREAS, the City of Edina, Minnesota (the “City”) has heretofore determined that it is necessary
and expedient to issue the City’s estimated $4,620,000 General Obligation Refunding Bonds, Series 2021B (the
“2021B Bonds”) to provide financing to execute a current refunding of the callable 2023 to 2030 maturities of
the City’s General Obligation Bonds, Series 2013A dated October 10, 2013, in order to reduce debt service
expense; and
WHEREAS, the City has also determined that it is necessary and expedient to issue the City’s
estimated $2,430,000 General Obligation Recreational Revenue Refunding Bonds, Series 2021C (the “2021C
Bonds”) to provide financing to execute a current refunding of the callable 2023 to 2033 maturities of the
City’s General Obligation Bonds, Series 2012C dated November 15, 2012 and callable 2023 to 2029 maturities
of the City’s General Obligation Bonds, Series 2013B dated October 10, 2013, in order to reduce debt service
expense; and
WHEREAS, the City has retained Ehlers & Associates, Inc. in Roseville, Minnesota (“Ehlers”) as its
independent municipal advisor for the 2021B Bonds and 2021C 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. The City Council hereby authorizes Ehlers to assist the City for the sale of the 2021B
Bonds and 2021C Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 p.m. on November 16, 2021, for the
purpose of considering proposals for and awarding the sale of the 2021B Bonds and 2021C Bonds.
3. Official Statement. In connection with said sale, the officers or employees of the City are hereby
authorized to participate, in cooperation with Ehlers, in the preparation of an official statement for each
of the 2021B and 2021C Bonds and to execute and deliver them on behalf of the City upon their
completion.
Passed and adopted this 19th day of October, 2021.
ATTEST: ____________________________ ________________________________
Sharon Allison, City Clerk James B. Hovland, Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached and
foregoing Resolution was duly adopted by the Edina City Council at its regular meeting of October 19, 2021, and as
recorded in the Minutes of said Special Meeting.
WITNESS my hand and seal of said City this ______ day of __________, 20___.
_______________________________
City Clerk