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Resolution No. 2015 - 04 Council Member Lindner introduced the following resolution and moved its adoption: Resolution Providing for the Sale of $775,000 General Obligation Refunding Bonds, Series 2015A A. WHEREAS, the City Council of the City of Gem Lake, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $775,000 General Obligation Refunding Bonds, Series 2015A (the "Bonds"), to crossover refund the City's outstanding General Obligation Capital Improvement Plan Bonds, Series 2007A for an interest cost savings; and B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, 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 Gem Lake, 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 at 7:00 p.m. on May 19, 2015, 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 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. The motion for the adoption of the foregoing resolution was duly seconded by City Council Member Artig Swomley and, after full discussion thereof and upon a vote being taken thereon, the following City Council Members voted in favor thereof: Uzpen, Artig Swomley, Lindner, Bosak and Kuny. and the following voted against the same: None Whereupon said resolution was declared duly passed and adopted. Dated this 2 1 " day of April, 2015. \Y-