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HomeMy WebLinkAboutResolution No. 2000-077 Sale of GO Tax Bonds, Series 2000A and 2000B 1 J c,9jN�11�, RESOLUTION NO. 2000-77 o e vi •NbRaOM�£O City of Edina RESOLUTION PROVIDING FOR THE SALE OF $2,620,000 G.O. TAX INCREMENT BONDS, SERIES 2000A $3,565,000 TAXABLE G.O. TEMPORARY TAX INCREMENT BONDS, SERIES 2000B WHEREAS, the City Council of the City of Edina, Minnesota, has heretofore determined that it is necessary and expedient to issue the City's $2,620,000 G.O. Tax Increment Bonds, Series 2000A (the "Series 2000A Bonds") to finance the public costs associated with the Grandview Square Redevelopment Project and to issue the City's $3,565,000 Taxable G.O. Tax Increment Bonds, Series 2000B (the "Series 2000B Bonds") to refinance the G.O. Tax Increment Bonds,Series 1997B and to finance environmental remediation; and WHEREAS, the City has designated Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent financial advisor 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 City of Edina, Minnesota, as follows: • 1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the Series 2000A Bonds and the Series 2000B Bonds. 2. Meeting; Proposal Opening. The City Council shall meet at the time and place to be specified in the Terms of Proposal for the purpose of considering sealed proposals for, and awarding the sale of the Series 2000A Bonds and the Series 2000B Bonds. The City Manager, or designee, shall open proposals at the time and place to be specified in such Terms of Proposal for each issue. 3. Terms of Proposal. The terms and conditions for the Series 2000A Bonds and the Series 2000B Bonds and the sale thereof are fully set forth in the Bond Sale Report and are hereby approved and made a part hereof. 4. 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 Series 2000A Bonds and the Series 2000B Bonds and to execute and deliver it on behalf of the City upon its completion. Dated:Auust 1,2000 Attest ", % l ,l • zebra A.Man en, ity Oerk Dennis F. Maetzold, Mayor City Hall (952) 927-8861 4801 WEST 50TH STREET FAX(952)826-0390 EDINA,MINNESOTA 55424-1394 TDD(952)826-0379 RESOLUTION NO. 2000-77 - Sale of G.O. Tax Increment Bonds, Series 2000A and Taxable G.). Temporary Tax Increment Bonds, Series 2000B August 1, 2000 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 August 1, 2000, and as recorded in the Minutes of said Regular Meeting. WITNESS my hand and seal of said City this day of , 20^ City Clerk 2