HomeMy WebLinkAboutResolution No. 2024-80 GO Bond Series 2024BCERTIFICATION ( ITES RELATING TO
GENERAL OBI CAPITAL, IMPROVEMENT PLAN AND SATES TAX REVENUE
BONDS, SERIES 2024B
Issuer: City of Edina, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting held on October 15, 2024, at 7:00
p.m., at the City Hall in Edina, Minnesota.
Members present: j "Tac-ACCJ fCg) SSC "
Members absent:
Documents Attached:
Minutes of said meeting (pages):
RESOLUTION NO. 2024-80
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN
AND SALES TAX REVENUE BONDS, SERIES 2024B
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 October 1.5, 2024.
(SEAL)
Sharon Allison, City Clerk
CITY OF EDINA
4801 West 50th Street • Edina, Minnesota 55424
www.EdinaMN.gov • 952-927-8861 • Fax 952-826-0390
Councilmember T-,6C-AcS IN introduce the following resolution and moved its adoption, which
motion was seconded by Councilmember
RESOLUTION NO. 2024-80
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN AND
SALES TAX REVENUE BONDS, SERIES 2024B
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 Capital Improvement Plan and Sales Tax Revenue Bonds, Series
2024B (the "Bonds"), pursuant to Minnesota Statutes, Chapter 475 and Section 475.521 (the "CIP Act")
and Minnesota Session Laws 2021, First Special Session, Chapter 14, Article 8, Section 5, as amended
by Minnesota Session Laws 2023, Chapter 64, Article 10, Section 17 (the "Sales Tax Legislation"), for
the purpose of (i) refunding in a current refunding the City's General Obligation Temporary Capital
Improvement Plan Bonds, Series 2022B, dated as of August 25, 2022, and issued in the original
principal amount of $17,000,000; (ii) funding development and improvements to Fred Richards and
Braemar Parks in the City, as authorized by the Sales Tax Legislation; and (iii) paying costs of issuance
of the Bonds (the "Projects").
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
and refinanced Projects, provided that the principal amount shall be approximately $29,535,000.
Section 4. Award and Sale. The City Council shall meet on November 19, 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 15th day of October, 2024.
Attest:
Sharon A ison, City Clerk
James B. Hovland, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by
Councilmember 4511teAr- and upon vote being taken thereon, the following
voted in favor thereof:
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and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.