HomeMy WebLinkAbout16-070 - ADMIN Resolution - City Council - 2016/05/16RESOLUTION NO. 16-070
RESOLUTION PROVIDING FOR THE SALE OF
A $10,000,000 GENERAL OBLIGATION BONDS SERIES 2016
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 $10,000,000 General
Obligation Bonds, Series 2016 (the "Bonds") pursuant to the authority granted under Section
6.15 of the City Charter, to finance improvements to the City's ice arena and outdoor recreation
facilities 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 the issuance of the Bonds, and
further authorizes Ehlers to assist the City in negotiating the sale of the Bonds.
2. Meeting: Proposal Opening. The City Council shall meet at 7:30 p.m. on June 20, 2016, 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
her y authorized to cooperate with Ehlers and participate in the preparation of an official
state ent for the Bonds and to execute and deliver it on behalf of the City upon its completion.
City Council May 16, 2016
City Manager
Attest:
Melioa Menne , City Clerk