HomeMy WebLinkAbout10-140 - ADMIN Resolution - City Council - 2010/11/15•
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RESOLUTION NO. 10-140
RESOLUTION PROVIDING FOR THE SALE OF
$1,755,000 GENERAL OBLIGATION BONDS, SERIES 2010C AND
$13,140,000 TAXABLE GENERAL OBLIGATION BONDS
(BUILD AMERICA BONDS), SERIES 2010D
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 $1,755,000 General Obligation
Bonds, Series 2010C and $13,140,000 Taxable General Obligation Bonds (Build America
Bonds), Series 2010D (the "Bonds"), to refund the outstanding maturities of the $4,505,000 GO
Bonds, Series 2000A and to pay for the acquisition of land and construction of two new fire
stations respectively in the City;
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 December 6, 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
atement for the Bonds and to execute and deliver it on behalf of the City upon its
pletion.
Revi- ;v or Administration: Ado jed-byle City Council November 15, 2010
City ClerG k U
Mayor