HomeMy WebLinkAbout96-109 - ADMIN Resolution - City Council - 1996/07/15Resolution No. 96-109
Resolution Providing for the Sale of
$7,895,000 General Obligation Tax Increment Bonds, Series 1996
A Whereas, the City Council of the City of St Louis park, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $7,985,000 General
Obligation Tax Increment Bonds, Series 1996 (the "Bonds"), for the purpose of financing
the Recreation Center expansion which includes an ice arena and an outdoor swimming
pool/aquatic center, and,
B Whereas, the City has retained Ehlers and Associates, Inc., in Minneapolis, Minnesota
("Ehlers"), as its independent financial advisor and Popham, Haik, Schnobrich and
Kaufman, in Minneapolis, Minnesota as Bond Counsel for the Bonds and is therefore
authonzed 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 St Louis Park,
Minnesota, as follows
1 Authorization, Findings The City council hereby authorizes Ehlers to solicit proposals for
the sale of the Bonds and Popham, Haik, and Schnobnch and Kaufman to prepare legal
documents
2 Meeting, Proposal Opening The City Council shall meet on September 16, 1996 at 7.30
p m 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 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 by the City Council July 15, 1996
ATTEST
Reviewed for administration
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Approved as to form and execution
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City Attorney