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<br />e <br /> <br />e <br /> <br />. <br /> <br />CITY OF ARDEN HILLS <br />RAMSEY COUNTY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 98-09 <br /> <br />RESOLUTION PROVIDING FOR THE SALE OF <br />$3,100,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1998A <br /> <br />WHEREAS, the City Council of the City of Arden Hills, Minnesota, has heretofore determined <br />that it is necessary and expedient to issue the City's $3,100,000 General Obligation Tax <br />Increment Bonds, Series 1998A (the "Bonds"), to finance the construction of various <br />improvements in the City; and <br /> <br />WHEREAS, the City has retained Ehlers and Associates, Inc., in Minneapolis, Minnesota <br />("Ehlers"), as its independent financial advisor for the Bonds and is therefore authorized to <br />solicit proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2 (9). <br /> <br />NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills, <br />Minnesota, as follows: <br /> <br />1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit <br />proposals for the sale of the Bonds. <br /> <br />2. <br /> <br />Meeting: Proposal Opening. The City Council shall meet as specified in the Bond <br />Sale Report attached hereto for the purpose of considering sealed proposals for, <br />and awarding the sale of the Bonds. The City Administrator, or designee, shall <br />open proposals at the time and place to be specified in the Terms of Proposal. <br /> <br />3. Terms of Sale. The terms and conditions of the Bonds and the sale thereof are <br />fully set forth in the Bond Sale Report attached hereto and hereby approved and <br />made a part hereof. <br /> <br />4. Official Statement. In connection with said sale, the officers or employees of the <br />City are hereby authorized to cooperate with Ehlers and participate in the <br />preparation of an official statement for the Bonds and to execute and deliver it on <br />behalf of the City upon its completion. <br />I <br /> <br />PASSED AND ADOPTED BY THE CITY COUNq(OF T,i CITY OF ARDEN HILLS <br />THIS 26TH DAY OF JANUARY, 1998. j/ l;/" / <br />/-,1 . m / <br /> <br />b~t~~!f~,MA YOR <br /> <br />ATTEST: <br /> <br />BRI <br /> <br /> <br /><, 'd)!h <br />