03-9394r
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RESOLUTION NO. 9394
RESOLUTION PROVIDING FOR THE SALE OF
$3,530,000 TAXABLE GENERAL OBLIGATION TAX
INCREMENT BONDS, SERIES 2003C
A. WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $3,530,000 Taxable
General Obligation Tax Increment Bonds, Series 2003C (the "Bonds"), to provide
permanent financing for the Cornerstone project in the City; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota
("Ehlers"), as its independent financial advisor for the Bonds 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 the City of Richfield,
Minnesota, as follows:
1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals
for the sale of the Bonds.
2. Meetina: Proposal Opening. The City Council shall meet at 6:30 P.M. on November
12, 2003, for the purpose of considering sealed 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.
Adopted by the City Council of the City of Richfield, Minnesota this 28th day of October,
2003.
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Martin J. Kirsc, ayor
ATTEST:
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Nancy Gibbs, Ity Clerk