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i� ,� CITY OF ARDEN HILLS STATE OF MINNESOTA RAMSEY COUNTY RESOLUTION NO. 97-48 Councilmember Keim introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR THE SALE OF $3,050,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1997A WHEREAS, the City Council of the City of Arden Hills, Minnesota, has heretofore determined that it is necessary and expedient to issue the City's $3,050,000 General Obligation Tax Increment Bonds, Series 1997A (the "Bonds"), to firiance the construction of various improvements in the City; and WHEREAS, the City has retained Ehlers and Associates, Inc., in Minneapolis, 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 Arden Hills, Minnesota, as follows: Authorization; Findin�s. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the Bonds. 2. Meeting; Pro�osal O�ening. The City Council shall meet as specified in the Bond Sale Report attached hereto for the purpose of considering sealed proposals for, and awarding the sale of the Bonds. The City Administrator, or designee, shall open proposals at the time �and place to be specified in the Terms of Proposal. 3. Terms of Sale. The terms and conditions of the Bonds and the sale thereof are fully set forth in the Bond Sale Report attached hereto and hereby approved and made a part hereof. 4. 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. \ �eI�Q�- �.�� ta�,�I��-�