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Resolution No. 2017 - 07 <br />Council Member introduced the. following resolution and moved its adoption: <br />Resolution Providing for the Sale of <br />$515,00.0 General Obligation Tax Abatement.Bonds, Series 2017A <br />A. WHEREAS, the City Council of the City of Gem Lake; Minnesota has heretofore determined that it is <br />necessary andexpedient to issue the City's $515,000. General. Obligation. Tax Abatement Bonds, <br />Series .2017A the "Bonds"), :to finance the acquisition of land to be used as a:public .park.which will <br />benefit certain property in the City; and <br />B. 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 />1. Authorization 1~indin s. The City Council hereby authorizes. Ehlers to assist the City for the sale of <br />the Bonds.. <br />2. Meeting; Proposal Opel. The City Council shall meet at 7:00.p.m. w0uly 18, 201:7, for the <br />purpose of considering proposals for and awarding the.sale of the.Bonds. <br />3.. Official Statement hi 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 behalf .of the City upon its completion. <br />The:motion for the adoption of the foregoing 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 Council Members voted in .favor thereof <br />and the following voted against the same: <br />Whereupon said. resolution was dedlared :duly passed and adopted.. <br />Dated. this 20q' day of Tune, 2017.. <br />City Clerk <br />