HomeMy WebLinkAboutResolution No. 2016-048 Calling $17,445,000 G.O. Bond Sale w��1r
e stn
m
Hry � .ay
Nr'rtltlY IlinY
Resolution No. 2016-48
Resolution Providing for the Sale of
$17,445,000 General Obligation Bonds, Series 2016A
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 $17,445,000 General Obligation Bonds, Series 2016A (the "Bonds"), to finance street
reconstruction and utility infrastructure projects in the City and to effect an advance refunding of the callable
maturities of the City's $5,865,000 General Obligation Capital Improvement Plan Bonds, Series 2007A; 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:
I. Authorization; Findings. 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 June 7, 2016, 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 emplo es of the City are hereby authorized to
cooperate with Ehlers and participate in the preparation of an official st tement for the Bonds and to execute and
deliver it on behalf of the City upon its completion.
Approved this 3rd day of May, 2016.
Attest:
Debra A. Mangen, City C er 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 May 3, 2016 and as recorded in the Minutes of said
Regular Meeting.
WITNESS my hand and seal of said City this day of , 20_
City Clerk
CITY OF EDINA
4801 West 50th Street• Edina,Minnesota 55424
www.EdinaMN.gov•952-927-8861 . Fax 952-826-0390