HomeMy WebLinkAbout97-9 - ADMIN Resolution - City Council - 1997/02/03r
RESOLUTION NO.9 7 m 9
RESOLUTION PROVIDING FOR THE SALE OF UP TO
S22,000,000 IN GENERAL OBLIGATION TAX INCREMENT BONDS AND UP TO
$12,000,000 FORWARD COMMITMENT GENERAL OBLIGATION REVENUE BONDS
A. WHEREAS, the City Council of the City of St. Louis Park, Minnesota, has heretofore determined
that it is necessary and expedient to issue up to $22 million in General Obligation Tax Increment
Bonds and up to $12 million Forward Commitment General Obligation Revenue Bonds
(collectively the "Bonds"); and
B. WHEREAS, the City has retained Ehlers and Associates, Inc. in Minneapolis, Minnesota
(`Ehlers'), as its independent financial advisor and Popham, Haik, Schnobrich & Kaufman, Ltd.,
in Minneapolis, Minnesota as Bond Counsel 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 St. Louis Park, Minnesota,
as follows:
1. Authorization; Findings. The City hereby authorizes Ehlers to solicit proposals for the sale of the
Bonds as noted above and Popham, Haik, Schnobrich & Kaufman, Ltd. to prepare legal documents.
2. Meetings: Proposal Opening. The City Council shall meet on a date to be determined 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.
4. Effective Date. This Resolution shall be effective inunediately upon adoption.
ATTEST:
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City Clerk
REVIEWED FOR ADMINISTRATION:
9140 RES 10
Adopted by the City Council February 3, 1997.