HomeMy WebLinkAboutRES 19-051 PROVIDING FOR THE SALE OF $2,975,000 GENERAL OBLIGATION BONDS, SERIES 2019ACITY OF ST. ANTHONY VILLAGE
STATE OF MINNESOTA
RESOLUTION 19-051
Council Member J,S( introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$2,975,000 General Obligation Bonds, Series 2019A
A. WHEREAS, the City Council of the City of St. Anthony, Minnesota has heretofore determined that it
is necessary and expedient to issue the City's $2,975,000 General Obligation Bonds, Series 2019A (the
"Bonds"), to finance various storm water improvements to address flooding issues in and around Silver
Lake Road and in the Industrial Park and installation of utilities and a new sidewalk along County Road
C and to effectuate a current refunding of the 2010A and 2011A Bonds in the City; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its
independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60,
Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota, as
follows:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City for the sale of
the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 p.m. on June 25, 2019, for the purpose
of considering proposals for and awarding the sale of the Bonds.
3. Official Statement. In connection with said sale, the officers or employees of the City are hereby
authorized to cooperate with Ehlers and participate in the preparation of an official statement for the
Bonds and to execute and deliver it on behalf of the City upon its completion.
The motion for the adoption of the foregoing resolution was duly seconded by City Council Member
Grad and, after full discussion thereof and upon a vote being taken thereon, the
following uty Council Members voted in favor thereof:
1b$61, fh1Le, Fins], Grimy
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
Dated this 28th day of May, 2019.
ATTEST:
NicolMiller, City Clerk
Reviewed for administration:
Jerome O. Faust, Mayor
6A41-
Mark Casey, City ager