HomeMy WebLinkAboutResolution No. 2024-37 G.O. Bond SalesCERTIFICATION OF MINUTES RELATING TO
GENERAL OBLIGATION BONDS, SERIES 2024A
Issuer: City of Edina, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting held on June 4, 2024, at 7:00 p.m., at
the City Hall in Edina, Minnesota.
Members present:
Members absent:
Documents Attached:
Minutes of said meeting (pages):
RESOLUTION NO. 2024-37
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION BONDS, SERIES 2024A
I, the undersigned, being the duly qualified and acting recording officer of the public
corporation issuing the bonds referred to in the title of this certificate, certify that the documents
attached hereto, as described above, have been carefully compared with the original records of
said corporation in my legal custody, from which they have been transcribed; that said
documents are a correct and complete transcript of the minutes of a meeting of the governing
body of said corporation, and correct and complete copies of all resolutions and other actions
taken and of all documents approved by the governing body at said meeting, so far as they relate
to said bonds; and that said meeting was duly held by the governing body at the time and place
and was attended throughout by the members indicated above, pursuant to call and notice of such
meeting given as required by law.
WITNESS my hand officially as such recording officer on June 4 , 2024.
(SEAT,,)
Sharon Allison, ity Clerk
CITY OF EDINA
4801 West 50th Street • Edina, Minnesota 55424
www.EdinaMN.gov • 952-927-8861 • Fax 952-826-0390
Councilmember introduc th?
..
fowing resolution and moved its adoption, which
motion was seconded by Councilmember 41k C., :
RESOLUTION NO. 2024-37
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION BONDS, SERIES 2024A
BE IT RESOLVED by the City Council (the "Council") of the City of Edina, Minnesota (the
"City"), as follows:
Section 1. Authorization; Purpose. It is hereby determined to be in the best interests of the
City to issue its General Obligation Bonds, Series 2024A, pursuant to Minnesota Statutes, Chapters 429
and 475 and Sections 444.075, 469.178, and 475.521 (the "Bonds"), for the purpose of financing various
street improvement projects, sewer and storm sewer improvements, capital improvements, and public
improvements supporting the Eden Willson Redevelopment Tax Increment Financing District (the
"Projects") and paying costs of issuance of the Bonds.
Section 2. Municipal Advisor. The City has retained Ehlers & Associates, Inc. in Roseville,
Minnesota ("Ehlers"), as its independent municipal advisor. Ehlers is hereby authorized, pursuant to
Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9), to solicit bids for the Bonds on behalf
of the City on a competitive basis without requirement of published notice.
Section 3. Adjustment of Principal Amount of Bonds. The principal amount of the Bond
issue shall be adjusted in accordance with staff recommendations upon receipt of bids for the financed
Projects, provided that the principal amount shall be approximately $32,730,000.
Section 4. Award and Sale. The City Council shall meet on July 16, 2024, at 7:00 p.m., or
such other time deemed acceptable to the Council, for the purpose of considering sealed bids for the
purchase of the Bonds and of taking such action thereon as may be in the best interest of the City.
Section 5. 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.
Adopted this 4th day of June, 2024.
Attest:
haron Allison, City Clerk
James Hov and, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by
Councilmember
em
Councilmember n and upon vote being taken thereon, the following
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and he following voted against the same:
whereupon said resolution was declared duly passed and adopted.
voted in favor thereof: