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