HomeMy WebLinkAboutResolution No. 2008-065 Calling for GO Utility Revenue Bond Series A and GO Permanent Imp Revolving Fund Bonds Series 2008B Sale on August 4, 2008 41
Resolution No. 2008-65
2 ' Providing for the Sale of$13,985,000 General Obligation Utility Revenue
ay Bonds, Series 2008A and $7,755,000 General Obligation Permanent
• k„ w Improvement Revolving Fund Bonds, Series 2008B
City of Edina
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 $13,985,000 General Obligation Utility
Revenue Bonds Series 2008A and $7,755,000 General Obligation Permanent Improvement
Fund Revolving Bonds, Series 2008B (the "Bonds"), to finance the cost of various capital
improvements;
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota
("Ehlers"), as its independent financial advisor for the Bonds and is therefore authorized to
solicit proposals 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:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for
the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 P.M. on August 4, 2008, for
the purpose of considering sealed proposals for and awarding the sale of the Bonds.
• 3. 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 be if o the City upon its completion.
Passed and adopted by theC' Council on July 15, 2008.
Aa,
ATTEST: te ,yl, 'I, --
Debra A. Mangen,City C rk Ja es 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 July 15, 2008, 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 Hall 952-927-8861
4801 WEST 50TH STREET FAX 952-826-0390
EDINA,MINNESOTA, 55424-1394 www.cityofedina.com TTY 952-826-0379