HomeMy WebLinkAbout20-135 - ADMIN Resolution - City Council - 2020/09/21Resolution No. 20-135
Resolution providing for the issuance and sale of
$15,540,000 general obligation bonds, series 2020A
Be it resolved by the City Council of the City of St. Louis Park, Hennepin County,
Minnesota (the “City”) as follows:
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 $15,540,000 General
Obligation Bonds, Series 2020A (the "Bonds"), to finance various bridge, bikeways,
pavement management, and the 2020 and 2021 utility projects in the City; and
B. 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 October 19,
2020, 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 completion.
The motion for the adoption of the foregoing resolution was duly seconded by City Council
Member Harris, and, after full discussion thereof and upon a vote being taken thereon, the
following City Council Members voted in favor thereof: Spano, Kraft, Mohamed, Rog, Mavity,
Harris and Brausen.
And the following City Council Members voted in opposition: None
Reviewed for Administration: Adopted by the City Council Sept. 21, 2020
Thomas K. Harmening, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
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