02-9242r
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RESOLUTION NO. 9242
RESOLUTION PROVIDING FOR THE SALE OF
$2,495,000 TAXABLE GENERAL OBLIGATION TAX INCREMENT
REFUNDING BONDS, SERIES 2002B
WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $2,495,000 Taxable
General Obligation Tax Increment Refunding Bonds, Series 2002B (the "Series 2002B
Bonds"), to provide funds for the current refunding of the December 1, 2004 through
December 1, 2012 maturities totaling $2,430,000 of the City's outstanding $5,075,000
General Obligation Taxable Tax Increment Bonds, Series 1996 dated date December 1,
1996; and
WHEREAS, the City has retained Ehlers and 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 City of Richfield,
Minnesota, as follows:
1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals
for the sale of the Series 2002B Bonds.
2. Meetino: 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 Series 2002B Bonds. The City Clerk, or designee, shall
open proposals at the time and place specified in such Terms of Proposal.
3. Bond Sale Report. The terms and conditions of the Series 2002B Bonds and the sale
thereof are fully set forth in the "Bond Sale Report" attached hereto and 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 Series 2002B 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 22nd day of
October, 2002.
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Martin J. irs ,Mayor
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