HomeMy WebLinkAbout04-023 - ADMIN Resolution - City Council - 2004/02/02RESOLUTION NO. 04 - 023
RESOLUTION PROVIDING FOR THE SALE OF
$7,550,000 G.O. TAX INCREMENT REFUNDING BONDS
SERIES 2004A
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 $7,550,000 General Obligation
Tax Increment Refunding Bonds, Series 2004A (the "Bonds"), to advance refund the City's G.O.
Tax Increment Bonds, Series 1996, and
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 St. Louis Park,
Minnesota, as follows
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 approximately 7 30 p m on
March 1, 2004, 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 behalf of the City upon its
completion.
The motion for the adoption of the foregoing resolution was made by Councilmember Velick and
duly seconded by Councilmember Sanger and, after full discussion thereof and upon a vote being
taken thereon, the following Council Members voted in favor thereof Susan Sanger, John
Basill, Sue Santa, Sally Velick, Paul Omodt, Phillip Finkelstein, and Mayor Jeff Jacobs; and the
following voted against the same• none.
upon said resolution was declared duly passed and adopted. Dated the 2"d day of
, 2004
Revie .d • A dmrnrstration
monk
City Man
Attest:
Cry Clerk
Adoptee by - ♦ ty Council February 2, 2004
Mayor