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Council Member introduced the following resolution and moved its adoption: <br />Resolution Providing for the Sale of <br />$565,000 <br />G.O. Permanent Improvement Revolving Fund Bonds, Series 1995A <br />A. WHEREAS, the City Council of the City of Little Canada, Minnesota, has heretofore determined that <br />it is necessary and expedient to issue the City's $565,000 G.O. Permanent Improvement Revolving Fund <br />Bonds, Series 1995A (the "Bonds "), to finance the construction of various improvements in the City; and <br />B. WHEREAS, the City has retained Ehlers and Associates, Inc., in Minneapolis, Minnesota ( "Ehlers "), as <br />its independent financial advisor for the Bonds and is therefore authorized to solicit proposals in <br />accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9): <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of City of Little Canada, Minnesota, as <br />follows: <br />1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of <br />the Bonds. <br />2. Meeting. Proposal Opening. The City Council shall meet at the time and place specified in the Terms <br />of Proposal attached hereto for the purpose of considering sealed proposals for, and awarding the sale <br />of, the Bonds. The City Administrator, or designee, shall open proposals at the time and place specified <br />in such Terms of Proposal. <br />3. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully set forth in the <br />"Terms of Proposal" attached hereto and hereby approved and made a part hereof. <br />4. Official Statement. In 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 Council Member <br />and, after full discussion thereof and upon a vote being taken thereon, the <br />following voted in favor thereof: <br />and the following voted against the same: <br />Whereupon said resolution was declared duly passed and adopted. <br />ATTEST: <br />City Administrator <br />City Mayor <br />Page 87 <br />