2000.10.03 RESO 2000-0038 - Laserfiche WebLink

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Bond Sale Report Resolution No. 2000-38 Resolution Providing for the Sale of $1,885,000 Taxable G.O. Tax Increment Bonds, Series 2000A $1,295,000 G.O. Temporary Improvement Bonds, Series 2000B WHEREAS, the City Council of the City of Hugo, Minnesota, has heretofore determined that it is necessary and expedient to issue the City's $1,885,000 Taxable G.O. Tax Increment Bonds, Series 2000A, to retire the Taxable G.O. Temporary Tax Increment Bonds, Series 1998C and the $1,295,000 G.O. Temporary Improvement Bonds, Series 2000B to refinance the G.O. Temporary Improvement Bonds, Series 1998B (collectively the "Bonds"); and WHEREAS, the City has designated Ehlers & Associates, Inc., in Roseville, Minnesota. ("Ehlers"), as its independent financial advisor and is therefore authorized to solicit proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); NOW, THEREFORE, BE IT RESOLVED by the City Council of City of Hugo, Minnesota, as follows: 1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the Bonds. 2. Meeting: Proposal Opening. The City Council shall meet at the time and place to be specified in the Terms of Proposal for the purpose of considering sealed proposals for, and awarding the sale of the Bonds. The City Clerk, or designee, shall open proposals at the time and place to be specified in such Terms of Proposal. 3. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully set forth in the Bond Sale Report and are hereby approved and made a part hereof. 4. 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. Dated: October 3, 2000 ATTEST City C _�.c�► �iI�.IPt�Mayor 11