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RESOLUTION NO. 2001-33 <br />Resolution Providing for the Sale of <br />$3,120,000 G.O. Water Revenue Bonds, Series 2001 B <br />BE IT RESOLVED by the City Council (the "City Council") of the City of Hugo, Minnesota (the <br />"City") as follows: <br />1. Background <br />1.1. The City Council of the City of Hugo, Minnesota, has heretofore determined that it is necessary <br />and expedient to issue the City's $3,120,000 G.O. Water Revenue Bonds, Series 2001B (the <br />"Bonds"), to finance improvements to the municipal water system. <br />1.2. The City has designated Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its <br />independent financial advisor and is therefore authorized to solicit proposals in accordance with <br />Minnesota Statutes, Section 475.60, Subdivision 2(9). <br />2. Action <br />2.1. Authorization; Findings. The City hereby authorizes Ehlers to solicit proposals for the sale of <br />the Bonds. <br />2.2. Meeting; Proposal Opening. The City Council shall meet at the time and place to be specified <br />in the Terms of Proposal for the purpose of considering sealed proposals for, and awarding the <br />sale of the Bonds. The City Clerk, or designee, shall open proposals at the time and place to be <br />specified in such Terms of Proposal. <br />2.3. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully set <br />forth in the Bond Sale Report and are hereby approved and made a part hereof. <br />2.4. Official Statement. In connection with said sale, the officers or employees of the City are <br />hereby authorized to cooperate with Ehlers and participate in the preparation of an official <br />statement for the Bonds and to execute and deliver it on behalf of the City upon its completion. <br />Adopted this 16th day of July, 2001. <br />alp <br />Clerk Mayor <br />