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Resolution No. 20B'- 04 Couhdil Member. introduced the following resolution and hnbved its. adoption: Resolution Providing for the Sale of $775,000 General Obligation Refunding Bonds, Series 2015A A. WHEREAS, the City Council of the Cite of Gem Lake, Minnesota has. heretofore determined Alat it is necessary and expedient.to issue the. City's $775,00.0 General Obligation Refunding Bonds, Series. 2015A (the. ".Bonds"), to,crossover refund the C.ity'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,I3E IT RESOLVED by the City Council of the -City. of Gem Lake, Minnesota, -as follo* 1. Authorization: Findings.. The City Council hereby. authorizes Ehlers to solicit.proposals for thesale of the Bonds. 2: Meeting: Proposal Qpenins. -The City. Council shall meet at 7:00 pm. on May49, 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.int[ie preparation of an official staten*nt-for*the Bonds And to execute -and deliver it on behalf bt' the City upon :its completion. The: m6ti6n for the --adoption oftho foregoing resolution was duly seconded by City Council Member and;.:after frill discussion thereof and upon a vote.being.taken thereon, tlte. fQ1lQwing City Council Members voted in favor thereof-. and the following voted against the same: Whereuponsaid resolution was declared duly passed and adopted. Dated this 21-19 day o€ April, 2615. �r City Clerk