HomeMy WebLinkAboutResolution No. 2025-49 Providing for the Sale of up to $25,800,000 General Obligation Bonds, Series 2025ACouncilmember .\06C.\(•,clo N introdu the following resolution and moved its adoption, which
motion was seconded by Councilmember I CEJ
RESOLUTION NO. 2025-49
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF GENERAL
OBLIGATION BONDS, SERIES 2025A
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 2025A, pursuant to Minnesota Statutes, Chapters 429
and 475 and Sections 444.075 and 475.521 (the "Bonds"), for the purpose of financing various street
improvement projects, water, sewer, and storm sewer improvements, and capital improvements (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 $25,800,000.
Section 4. Award and Sale. The City Council shall meet on August 6, 2025, at 7:00 p.m., or
such other time deemed acceptable to the Council, for the purpo e of considering sealed bids for the
purchase of the Bonds and of taking such action thereon as may be i the best interest of the City.
Section 5. Official Statement. In connection with s sa e, the officers or employees of the
City are hereby authorized to cooperate with Ehlers and pa I c pa ,e in the preparation of an official
statement for the Bonds and to execute and deliver it on behalf he ity upon its completion.
Adopted this 17th day of June, 2025.
James B. Hovland - Mayor
Attest:
Sh on llison - City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
Councilmember Ple\cal and upon vote being taken thereon, the following
voted in favor thereof: Agitle101 Teke--L'S n P(eral Asse,r./-4-bqkke.
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
Sharo llison, City Clerk
CERTIFICATION OF MINUTES RELATING TO
GENERAL OBLIGATION BONDS, SERIES 2025A
Issuer: City of Edina, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting held on June 17 2025, at 7:00 p.m., at
the City Hall in Edina, Minnesota.
te (02- -9.‘.sser -gz.•As\v\s& Members present: 491€1.1 3
Members absent:
Documents Attached:
Minutes of said meeting (pages):
RESOLUTION NO. 2025-49
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION BONDS, SERIES 2025A
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 17, 2025.
(SEAL)
CITY OF EDINA
4801 West 50th Street • Edina, Minnesota 55424
www.EdinaMN.gov • 952-927-8861 • Fax 952-826-0389