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CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />RESOLUTION NO. 2005 -056 <br />RESOLUTION AUTHORIZING THE SALE OF APPROXIMATELY <br />$4,600,000 <br />GENERAL OBLIGATION WATER REVENUE BONDS, SERIES 2005A <br />WHEREAS, the City has an upcoming issuance of approximately $4,600,000 General Obligation Water <br />Revenue Bonds, Series 2005A (the `Bonds ") and <br />WHEREAS, the City desires to effectuate the transaction with Northland Securities Inc, when the <br />financing plan and documents are in place and market conditions are appropriate. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lake Elmo, Minnesota as <br />follows: <br />1. The City Council is hereby authorized to approve the sale of certain Bonds to Northland <br />Securities when market conditions warrant and on such date and at such time as <br />Northland Securities, Inc advises. <br />2. The City Council Will meet to adopt the necessary approval resolution drafted b.7 bond <br />counsel (estimated to be July 19, 2005), <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lake Elmo, Minnesota as <br />follows: <br />The motion for the adoption of the foregoing resolution was duly seconded by Member <br />(�—� and upon voted being taken thereon, the following voted in favor thereof.: <br />and the following voted against the same: <br />Whereupon said resolution was declared duly passed and adopted on, 2005. <br />t' <br />Dean Johnston, Mayor <br />