Res. #13-014 - Providing for the Sale of G.O. Improvement Bonds, Series 2013A, - $1,510,000

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Res. #13 -014 Council Member Paar introduced the following resolution and moved its adoption: Resolution Providing for the Sale of General Obligation Improvement Bonds, Series 2013A, in an Estimated Principal Amount of $1,510,000 A. WHEREAS, the City Council of the City of Centerville, Minnesota (the "City "), has determined that it is necessary and expedient to issue the City's General Obligation Improvement Bonds, Series 2013A (the "Bonds ") in an estimated principal amount of $1,510,000, to finance certain public improvements in the City; and B. WHEREAS, the City has retained Northland Securities, Inc., in Minneapolis, Minnesota ( "Northland "), as its independent financial advisor for the Bonds and is therefore authorized to conduct a public sale of the Bonds in accordance with Minnesota Statutes, Section 475.60. NOW, THEREFORE, BE IT RESOLVED by the City Council of the city of Centerville, Minnesota, as follows: 1. Authorization; Findings The City Council hereby authorizes Northland to solicit proposals for the sale of the Bonds through a public sale process. 2. Meeting; Proposal Opening The City Council shall meet at 7:00 p.m. on May 22, 2013, for the purpose of considering proposals for and awarding the sale of the Bonds. 3. Official Statement In connection with said sale, the officers or employees of the City are hereby authorized to cooperate with Northland 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. The motion for the adoption of the foregoing resolution was duly seconded by Council Member Fehrenbacher and, after full discussion thereof and upon a vote being taken thereon, the following Council Members voted in favor thereof. Council Members Fehrenbacher, Love, Paar and Mayor Wilharber. and the following voted against the same: Council Member King Whereupon said resolution was declared duly passed and adopted. Dated this 24th day of April, 2013.