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�Rp HILLS <br />Request for Council Action <br />Prepared By: Sue Iverson, <br />Finance Director /Treasurer <br />Budgeted Amount: <br />N/A <br />Actual Amount: <br />N/A <br />Council Meeting Date: November 15, 2010 <br />Approval to Redeem and Prepay Revenue Bonds Issued by the City of Arden Hills <br />(Conduit Debt Presbyterian Homes, Resolution 2010 -060) <br />Funding Source: <br />N/A <br />Recommendation: <br />1. Motion to adopt Resolution 2010 -060, a resolution approving the issuance of <br />revenue refunding bonds by the City of Bloomington, Minnesota under Minnesota <br />Statutes, Sections 469.152 through 469.1651 and the issuance of revenue refunding <br />bonds by the City of Little Canada, Minnesota under Minnesota Statutes, Chapter <br />462C to redeem and prepay revenue bonds issued by the City of Arden Hills. <br />Supporting Documents: <br />1. See the attached memo from Sue Iverson dated November 15, 2010. <br />2. Letter from Julie Eddington, City Bond Counsel Kennedy Graven, dated November <br />9, 2010. <br />3. Resolution 2010 -060. <br />