HomeMy WebLinkAbout13-074 - ADMIN Resolution - City Council - 2013/05/20RESOLUTION NO. 13-074
RESOLUTION PROVIDING FOR THE SALE OF
$4,165,000 GENERAL OBLIGATION REFUNDING BONDS,
SERIES 2013A
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 $4,165,000 General Obligation
Refunding Bonds, Series 2013A (the "Bonds"), to crossover refund the City's outstanding
General Obligation Utility Revenue Bonds, Series 2007A and 2008A for interest cost savings;
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, 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 7:00 p.m. on June 17, 2013, for
the purpose of considering 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
tion.
Review
d
dministration:
Adopt s e City Council May 20, 2013
City
Attest:
City Clerk f
Mayor