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Council Member introduced the following resolution and moved its adoption: <br /> v <br /> Resolution Providing for the Sale of <br /> $1,200,000 <br /> G. 0. Tax Increment Refunding Bonds of 1993 <br /> R -93 -2 <br /> A. WHEREAS, the City Council of the City of Falcon Heights, Minnesota, has heretofore <br /> determined that it is necessary and expedient to issue the City's $1,200,000 G. O. Tax <br /> Increment Refunding Bonds of 1993 (the "Bonds to refinance certain outstanding <br /> obligations of the City; and <br /> B. 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 <br /> to solicit proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision <br /> 2(9): <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of City of Falcon Heights, <br /> Minnesota, as follows: <br /> 1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals <br /> for the sale of the Bonds. <br /> 2. Meeting; Proposal Opening. The City Council shall meet at the time and place specified <br /> in the Terms of Proposal attached hereto for the purpose of considering sealed proposals <br /> for, and awarding the sale of, the Bonds. The City Clerk, or designee, shall open <br /> proposals at the time and place specified in such Terms of Proposal. <br /> 3. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully <br /> set forth in the "Terms of Proposal" attached hereto and hereby approved and made a <br /> part hereof. <br /> 4. Qff(giai Statement. In connection with said sale, the officers or employees of the City are <br /> hereby authorized to cooperate with Ehlers and participate in the preparation of an <br /> official statement for the Bonds and to execute and deliver it on behalf of the City upon its <br /> completion. <br /> The motion for the adoption of the foregoing resolution was duly seconded by Council <br /> Member and, after full discussion thereof and upon a vote being <br /> taken thereon, the following Council Members voted in favor thereof: <br /> and the following voted against the same: <br /> Whereupon said resolution was declared duly passed and adopted. <br />