HomeMy WebLinkAbout05-059 - ADMIN Resolution - City Council - 2005/04/18•
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RESOLUTION NO. 05 - 059
RESOLUTION PROVIDING FOR THE SALE OF
$2,470,000 G.O. TAX INCREMENT REFUNDING BONDS SERIES 2005B
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 $2,470,000 General Obligation
Tax Increment Refunding Bonds, Senes 2005B (the "Bonds"), to refund the $7,000,000 General
Obligation Tax Increment Bonds, Series 1997A; and
WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota
("Ehlers"), as its independent financial advisor for the Bonds and is therefore authonzed to solicit
proposals in accordance with Minnesota Statutes, Section 475;
NOW, THEREFORE, BE IT RESOLVED by the City Council of St. Louis Park,
Minnesota, as follows:
1. Authonzation; Findings. The City Council hereby authonzes Ehlers to solicit proposals for
the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:30 p.m. on May 2, 2005, for
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the purpose of considenng 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 authonzed 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
co pletion.
Revi - e.1 or Administration:
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City ager Mayor
Ag1"opte\l by the City Council Apnl 18, 2005
Attest:
st9, lea- r-,--�-
y Clerk