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HomeMy WebLinkAbout1999-049 Council ResolutionCouncil Member Lyden introduced the following resolution and moved its adoption. CITY OF LINO LAKES RESOLUTION No. 99-49 RESOLUTION AUTHORIZING REPRESENTATIVES OF SPRINGSTED PUBLIC FINANCE ADVISORS TO PURSUE REFINANCING OF CITY BONDS WHEREAS, the City of Lino Lakes has several outstanding bond issues; and WHEREAS, interest rates have decreased since city bonds were issued; and WHEREAS, Springsted Public Finance Advisors has reviewed the City's outstanding debt and identified opportunities to refinance debt and save the City's taxpayers approximately $200,000 in interest over the life of the debt. NOW THEREFORE, BE IT RESOLVED, the City of Lino Lakes City Council authorizes representatives of Springsted Public Finance Advisors to pursue refinancing of outstanding City bond issues. Adopted by the Lino Lakes City Council this _ day of July 199 ��fiiL/©1 Marilyn G. Anderson, Clerk -Treasurer mberl S 111i n, Mayor The motion for the adoption of the foregoing resolution was duly seconded by Council Member Neal and upon vote being taken thereon, the following voted in favor thereof: Bergeson, Dahl, Lyden, Neal, Sullivan. The following against same: none . Whereupon said resolution was declared duly passed and adopted.