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• Resolution No. 03 - 064 <br /> Council Member_S� r ,5 introduced the following resolution and moved its adoption: <br /> Resolution Providing for the Sale of <br /> $630,000 General Obligation Refunding Improvement Bonds, Series 2003D <br /> A. WHEREAS, the City Council of the City of St. Anthony, Minnesota (the "City"), has heretofore <br /> determined that it is necessary and expedient to issue the City's$630,000 General Obligdtion Refunding <br /> Improvement Bonds,Series 2003D,to achieve cost savings by refinancing bonds eligible for refunding at <br /> lower interest rates by the issuance of the Series 2003D Bonds in order to provide for the current <br /> refunding of the outstanding portion of the City's$525,000 General Obligation Improvement Bonds of <br /> 1994B;$470,000 General Obligation Improvement Bonds of 1993A;and$825,000 General Obligation <br /> Improvement Bonds of 1995(the"Refunded Bonds"). <br /> B. WHEREAS,the City has retained Ehlers&Associates,Inc., in Roseville,Minnesota("Ehlers"), as its <br /> independent financial advisor for the Series 2003D and is therefore authorized to solicit proposals in <br /> accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); <br /> NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota, as <br /> follows: <br /> 1. Authorization:Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the <br /> • Series 2003D Bonds. <br /> 2, Meeting;Proposal Opening. The City Council shall meet at 7:00 P.M. on September 23,2003, for the <br /> purpose of considering sealed proposals for and awarding the sale of the Series 2003D Bonds. <br /> 3. Official Statement. In connection with said sale, the officers or employees of the City are hereby <br /> authorized to cooperate with Ehlers and participate in the preparation of an official statement for the <br /> Series 2003D Bonds and to deliver it on behalf of the City upon its completion. <br /> The motion for the adoption of the foregoing resolution was duly seconded by Council Member <br /> N/A and, after full discussion thereof and upon a vote being taken thereon, the <br /> following Council Members voted in favor thereof. <br /> 5Park5, 4oAeon, Horst-) (-aL{.5f, T�1ue.Sev) <br /> and the following voted against the same: lel c n e- <br /> Adopted this day of J 003. <br /> yor <br /> ATTEST: <br /> • City Clerk <br /> Reviewed for Administration: ld <br /> City ger <br />