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<br /> -- <br /> CITY OF ARDEN HILLS <br /> RAMSEY COUNTY <br /> STATE OF MINNESOTA . <br /> RESOLUTION NO. 98-09 <br /> RESOLUTION PROVIDING FOR THE SALE OF $3,100,000 GENERAL <br /> OBLIGATION TAX INCREMENT BONDS, SERIES 1998A <br /> WHEREAS, the City Council of the City of Arden Hills, Minnesota, has heretofore determined <br /> that it is necessary and expedient to issue the City's $3,100,000 General Obligation Tax <br /> Increment Bonds, Series 1998A (the "Bonds"), to finance the construction of various <br /> improvements in the City; and <br /> WHEREAS, the City has retained Ehlers and Associates, Inc., in Minneapolis, Minnesota <br /> ("Ehlers"), as its independent financial advisor for the Bonds and is therefore authorized to <br /> solicit proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2 (9). <br /> NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills, <br /> Minnesota, as follows: <br /> 1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit <br /> proposals for the sale of the Bonds. <br /> 2. Meeting' Proposal OpeninJi':. The City Council shall meet as specified in the Bond . <br /> Sale Report attached hereto for the purpose of considering sealed proposals for, <br /> and awarding the sale of the Bonds. The City Administrator, or designee, shall <br /> open proposals at the time and place to be specified in the Terms of Proposal. <br /> , Terms of Sale. The terms and conditions of the Bonds and the sale thereof are <br /> ~. <br /> fully set forth in the Bond Sale Report attached hereto and hereby approved and <br /> made a part hereof. <br /> 4. Official Statement. In connection with said sale, the officers or employees of the <br /> City are hereby authorized to cooperate with Ehlers and participate in the <br /> preparation of an official statement for the Bonds and to execute and deliver it on <br /> behalf of the City upon its completion. <br /> PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS <br /> THIS 26TH DAY OF JANUARY, 1998. <br /> DENNIS PROBST, MAYOR . <br /> ATTEST: <br /> BRIAN FRITSINGER, CITY ADMINISTRATOR <br />