HomeMy WebLinkAbout2001.07.16 RESO 2001-0033RESOLUTION NO. 2001-33
Resolution Providing for the Sale of
$3,120,000 G.O. Water Revenue Bonds, Series 2001 B
BE IT RESOLVED by the City Council (the "City Council") of the City of Hugo, Minnesota (the
"City") as follows:
1. Background
1.1. The City Council of the City of Hugo, Minnesota, has heretofore determined that it is necessary
and expedient to issue the City's $3,120,000 G.O. Water Revenue Bonds, Series 2001B (the
"Bonds"), to finance improvements to the municipal water system.
1.2. 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).
2. Action
2.1. Authorization; Findings. The City hereby authorizes Ehlers to solicit proposals for the sale of
the Bonds.
2.2. 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.
2.3. 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.
2.4. 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.
Adopted this 16th day of July, 2001.
alp
Clerk Mayor