HomeMy WebLinkAboutResolution 5836
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RESOLUTION NO. 5836
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION CALLING FOR THE SALE OF THE CITY'S GENERAL OBLIGATION WATER
REVENUE REFUNDING BONDS, SERIES 2002A
WHEREAS, the City's financial advisor is recommending that it is in the interest of the City to
refund the GO Water Revenue Refunding Bonds, Series 1993A.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Mounds View, as
follows:
1. It is hereby determined:
a) The City Council believes it to be in the City's best interest to consider a
refunding of the callable bonds of the City's General Obligation Water Revenue
Refunding Bonds, Series 1993A, dated June 1, 1993(the "Prior Bonds").
b) It would be advantageous for the City to issue its General Obligation Water
Revenue Refunding Bonds, Series 2002A (the "Bonds") to provide moneys
(together with other funds available for such purpose) for a current refunding of
the callable Prior Bonds.
c) The City has retained Springsted Incorporated, in Saint Paul, Minnesota, as it
independent financial advisor for the Bonds and is therefore authorized to sell the
Bonds by negotiated sale in accordance with Minnesota Statutes, Section
475.60, Subdivision 2(9). Springsted has submitted to the City suggested Terms
of Proposal respecting the Bonds.
2. Meetinq; Terms of Proposal. The City Council shall meet at 6:00 P.M. on Monday,
October 7, 2002 in the City Council Chambers for the purpose of considering any bids for, and
awarding the sale of, the Bonds, The terms and conditions of the Bonds and the sale thereof are
set forth in the said Terms of Proposal.
ATTEST:
(SEAL)
Adopted this 9th day of September, 2002.
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Richard Sonterre, Mayor
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Kathleen F, Miller, City Administrator
Motion by: Stigney
Second: Thomas
Sonterre:
Stigney:
Marty:
Thomas:
Quick:
Aye
Aye
Absent
Aye
Aye