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Resolution 8695
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Resolution 8695
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6/25/2019 10:08:25 AM
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6/15/2017 12:52:25 PM
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RESOLUTION NO. 8695 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION AUTHORIZING EHLERS & ASSOCIATED, INC. AND KENNEDY & <br /> GRAVEN CHARTERED TO ACT AS FINANCIAL ADVISOR AND BOND COUNSEL FOR <br /> THE ISSUANCE OF GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS <br /> FOR FINANCING THE CONSTRUCTION OF A PUBLIC WORKS FACILITY <br /> WHEREAS, The Mounds View City Council is considering authorizing the issue of <br /> General Obligation Capital Improvement Plan Bonds to finance the construction of a new <br /> public works facility; and <br /> WHEREAS, the City will require specialized financial and legal services during the <br /> issuance process; and <br /> WHEREAS, Ehlers & Associates, Inc. will provide financial advisory services at an <br /> approximate cost of between $25,000 to $27,000 depending on the size of the bond issue; <br /> and <br /> WHEREAS, Kennedy & Graven Chartered will provide bond counsel service at an <br /> approximate cost of$9,000; and <br /> WHEREAS, the City has worked with both entities on past bond issues and has been <br /> satisfied with the services provided; and <br /> WHEREAS, the City also desires to have the bond issue rated by a rating agency to <br /> reduce the overall interest rate. <br /> NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Mounds <br /> View does hereby authorize Ehlers & Associates, Inc. to act as the City's financial advisor <br /> and Kennedy & Graven Chartered to act as the City's bond counsel for the issuance of <br /> General Obligation Capital Improvement Plan Bonds and to have the bond issue rated by a <br /> rating agency to obtain a lower interest rate. <br /> Adopted this 9th day of January, 2017. <br /> Carol A. Mueller, Mayor <br /> ATTEST: <br /> w es Ericson, City Administrator <br /> (SEAL) <br />
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