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2018 05-15 CC PACKET
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2018 05-15 CC PACKET
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Administration
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adm 00500
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AGENDA PACKETS
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PERMANENT
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Resolution No. <br />Council Member introduced the following resolution and moved its adoption: <br />Resolution Providing for the Sale of <br />$665,000 General Obligation Improvement Bonds, Series 2018A <br />A. WHEREAS, the City Council ofthe City of .Gem Lake; Minnesota has heretofore determined that it..is <br />necessary and. expedient to .issue the City's $665.,0..00. General Obligation Improyement,Bo..nds, Series <br />.2018A (the "Sands"), to finance the construction of the 20:18 Scheuneman Road Reconstruction Project.. <br />in the City; and <br />$.. WHEREAS; the City.has retained Ehlers & Associates, Inc.,.in Roseville, Minnesota {"Ehlers"), as its <br />independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475..60, <br />Subdivision 2(9); <br />NOW, THEREFORE, BE IT RESOLVED by the City Council. of the City of Gem: Lake, Minnesota, as <br />follows: <br />L. Authorization; Findings. The City .Council: hereby authorizes Ehlers to assist the. City for the sale of <br />the Bonds. <br />2. Meeting; ProposalOpening. The City Council shall meet at 7:00 p.m. on -June 19, 2018, for the purpose <br />of considering proposals for and awarding the sale of the Bonds. <br />3.. Official Statement. In connection. with said -sale, the officers or employees of the City are hereby <br />authorized to cooperate with Ehlers and participate in. the preparation of an official. statement for the <br />Bonds and to execute and deliver it on be of the City upon its completion. <br />The motion for the adoption of the. :forego ing resolution was duly seconded by City Council Member <br />and; after full discussion thereof. and upon a Vote being taken thereon, the. <br />following City Cauncil:M.embers voted in favor thereof <br />- <br />and the following voted against the. same: <br />Whereupon said resolution was declared duly passed and. adopted. <br />Dated this 15"' day of May, 2018. <br />City Clerk <br />
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