HomeMy WebLinkAboutResolution 2009-035CERTIFICATION OF MINUTES RELATING TO
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2009B
Issuer: City of Lake Elmo, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting held on August 18, 2009, at 7.00
o'clock P. M. at the City Hall, Lake Elmo, Minnesota.
Members present:
MAYOR JOHNSTON AND COUNCIL MEMBERS DELAPP, EMMONS, PARK AND SMITH
Members absent:
NONE
Documents Attached:
Minutes of said meeting (pages):
RESOLUTION NO. 2009-035
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION IMPROVEMENT BONDS,
SERIES 2009B
1, the undersigned, being the duly qualified and acting recording officer of the public
corporation issuing the bonds referred to in the title of this certificate, certify that the documents
attached hereto, as described above, have been carefully compared with the original records of
said corporation in my legal custody, from which they have been transcribed; that said
documents are a correct and complete transcript of the minutes of a meeting of the governing
body of said corporation, and correct and complete copies of all resolutions and other actions
taken and of all documents approved by the governing body at said meeting, so far as they relate
to said bonds; and that said meeting was duly held by the governing body at the time and place
and was attended throughout by the members indicated above, pursuant to call and notice of such
meeting given as required by law.
WITNESS my hand officially as such recording officer on August 1. 8, 2009.
City of Lake Elmo
Washington County, Minnesota
Resolution No. 2009 -035
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION IMPROVEMENT BONDS,
SERIES 2009B
BE IT RESOLVED by the City Council (the Council) of the City of Lake Elmo,
Minnesota (the City), as follows:
SECTION 1. PURPOSE. It is hereby determined to be in the best interests of the City to issue
its General Obligation Improvement Bonds, Series 2009B, in the approximate principal amount
of $575,000 (the Bonds), pursuant to Minnesota Statutes, Chapters 429 and 475, to finance
various improvements projects in the City.
SECTION 2. PROPOSALS FOR SALE. The Bonds are exempt from the public sale
requirements of Chapter 475 pursuant to Minnesota Statutes, Section 475.60, subdivision 2,
paragraph (2). Northland Securities, Inc. (Northland) is hereby authorized to solicit proposals for
the Bonds on behalf of the City on a negotiated basis or to present a proposal for the purchase of
the Bonds by Northland, in each case based upon such terms as shall be approved by the City
Finance Director. The Bonds may be offered on either a tax-exempt or taxable basis, or both.
SECTION 3. SALE MEETING. This Council shall meet at the time and place shown in the
offering materials for the Bonds for the purpose of considering proposals for the purchase of the
Bonds and of taking such action thereon as may be in the best interests of the City.
Upon vote being taken thereon, the following members voted in favor thereof.
and the following members voted against the same.-
whereupon the resolution was declared duly passed and adopted by the Lake Elmo City Council
on August 18, 2009.
Administrator
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Dean A. Johnston, Mayor