HomeMy WebLinkAbout10-035 - ADMIN Resolution - City Council - 2010/04/05RESOLUTION NO. 10-035
RESOLUTION PROVIDING FOR THE SALE OF
$3,125,000 TAXABLE GENERAL OBLIGATION HIA BONDS, SERIES 2010A
AND $5,985,000 GENERAL OBLIGATION BONDS, SERIES 2010B
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 $3,125,000 Taxable General
Obligation HIA Bonds, Series 2010A and $5,985,000 General Obligation Bonds, Series
2010B (the "Bonds"), to pay for improvements to the common areas for the Sunset Ridge
Condominium Association, to finance various improvements to the sewer and water system and
to refund the outstanding maturities of the $3,265,000 G.O. Storm Sewer Revenue Bonds,
Series 2001B and the $4,145,000 G.O. Bonds, Series 2003A;
B. '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 7.00 P.M. on April 19, 2010, 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
he onds and to execute and deliver it on behalf of the City upon its completion.
Reviewer for Administration:
di' / Taki
- ERN HAMMEN
=M 1111 BM.
City w aTe 1 w
Attest:
Adopted by the City Council April 5, 2010
Mayor