HomeMy WebLinkAbout17-089 - ADMIN Resolution - City Council - 2017/05/15RESOLUTION NO. 17-089
( RESOLUTION PROVIDING FOR THE SALE OF
l $10,000,000 GENERAL OBLIGATION BONDS SERIES 2017A
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 2017A (the "Bonds"), pursuant to (a) Minnesota Statutes, Section 444 to finance
projects related to water treatment plant filter, water rehabilitation/infrastructure, and sewer
improvements in the City; (b) pursuant to the authority granted under Section 6.15 of the City
Charter to finance projects related to sidewalks, trails, SWLRT, and fiber in the City; and (c)
pursuant to Minnesota Statutes, Section 475.67, subd. 3 to effect a current refunding of the City's
General Obligation Bonds, Series 201013; 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 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 19, 2017, 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.
for the adoption of the foregoing resolution was duly seconded by City Council
1fin and, after full discussion thereof and upon a vote being taken thereon, the
tv Council Members voted in favor thereof 7-0.
by the City Council May 15, 2017
Manager
Attest:
Mci4ae4nny, C ty Clerk