HomeMy WebLinkAboutResolution 17-21 Authorizing the Pre-Sale of $900,000 GO Bonds for ImprovementsCITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
May 24, 2017
No. 17-21
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Council Member _________________ introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$900,000 General
Obligation Improvement Bonds, Series 2017A
A. WHEREAS, the City Council of the City of Falcon Heights, Minnesota has heretofore determined that it is necessary and expedient to issue
the City's $900,000 General Obligation Improvement Bonds, Series 2017A (the "Bonds"), to finance the construction of the 2017 Street and Utility Improvements, and to reimburse the City
for prior expenditures made in 2015 to improve various streets in the City; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its
independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Falcon Heights, Minnesota, as follows:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City for the sale of the Bonds.
2. Meeting; Proposal
Opening. The City Council shall meet at 7:00 p.m. on June 28, 2017, 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 in the preparation of an official statement for the Bonds and to
execute and deliver it on behalf of the City upon its completion.
After full discussion thereof and upon a vote being taken thereon, the following City Council Members voted in favor
thereof:
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
Dated this 24th day of May, 2017.
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Moved by: Approved by: ________________________
Peter Lindstrom
Mayor
LINDSTROM ____ In Favor Attested by: ________________________
BROWN THUNDER Sack Thongvanh
HARRIS ____
Against City Administrator
GUSTAFSON
FISCHER