HomeMy WebLinkAbout08-138 - ADMIN Resolution - City Council - 2008/10/20•
RESOLUTION NO. 08-138
RESOLUTION PROVIDING FOR THE SALE OF
$4,075,000 GENERAL OBLIGATION UTILITY REVENUE BONDS SERIES 2008A
AND
$5,625,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 2008B
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 $4,075,000 General Obligation
Utility Revenue Bonds Series 2008A and $5,625,000 General Obligation Tax Increment Bonds,
Series 2008B (the "Bonds") to finance the cost of various capital improvements; 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 the City of St. Louis
Park, Minnesota:
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 7:30 P.M. on
November 17, 2008, 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.
Revi
for Administration:
City
Attest:
Adopted by the City Council October 20, 2008
Mayo
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