HomeMy WebLinkAbout97-048i� ,�
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.
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RESOLUTION NO. 97-48 PAGE TWO OCTOBER 27,1997
The motion for the adoption of the foregoing resolution was duly seconded by Councilmember
Aplikowski and, after full discussion thereof and upon a vote being taken thereon, the
following Councilmembers voted in favor thereof:
Aplikowski, Keim, Irlalone and Probst
and the following voted against the same:
N/A
WHEREUPON, SAID RESOLUTION WAS DECLARED PASSED AND ADOPTED BY
THE CITY COUNCIL OF THE CITY OF ARDEN HILL HIS 27TH DAY OF
DCTOBER, 1997. ii�� ..
1�- �
S PROBST, MAYOR
ATTEST:
BRIAN FRITSINGER, ITY ADMINISTRATOR
(SEAL)
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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
CERTIFICATION
I hereby certify that the attached resolution is a true and correct copy of the resolution presented
to and adopted by the City of Arden Hills at a duly authorized meeting thereof held on the 27th
day of October, 1997, as shown by the minutes of said meeting in my possession.
�' B AN FRITSINGER, CITY ADMINISTRATOR
(SEAL)
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