HomeMy WebLinkAbout98-009
e
e
.
CITY OF ARDEN HILLS
RAMSEY COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 98-09
RESOLUTION PROVIDING FOR THE SALE OF
$3,100,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1998A
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 $3,100,000 General Obligation Tax
Increment Bonds, Series 1998A (the "Bonds"), to finance 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:
1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit
proposals for the sale of the Bonds.
2.
Meeting: Proposal Opening. 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.
I
PASSED AND ADOPTED BY THE CITY COUNq(OF T,i CITY OF ARDEN HILLS
THIS 26TH DAY OF JANUARY, 1998. j/ l;/" /
/-,1 . m /
b~t~~!f~,MA YOR
ATTEST:
BRI
<, 'd)!h