HomeMy WebLinkAbout19-117 - ADMIN Resolution - City Council - 2019/10/07Resolution No. 19-117
Resolution providing for the sale of
$16,270,000 General Obligation Bonds, Series 2019B
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 $16,270,000 General
Obligation Bonds, Series 2019B (the "Bonds"), to finance water and storm sewer improvements,
and a current refunding of the 2010D Taxable General Obligation Bonds (Build America Bonds –
Direct Pay) in the City; and
Whereas, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"),
as its independent municipal advisor for the Bonds 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 assist the City for
the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 6:30 p.m. on November 4,
2019, 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 i n the preparation of an
official statement for the Bonds and to execute and deliver it on behalf of the City upon
its completion.
Reviewed for administration: Adopted by the City Council Oct. 7, 2019
Thomas K. Harmening, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: F4CF4345-6722-4954-9029-0325ABC1427F