02-9144r
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RESOLUTION NO. 9144
RESOLUTION PROVIDING FOR THE SALE OF $1,460,000 GENERAL OBLIGATION
CAPITAL NOTES, SERIES 2002A
WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $1,460,000 General
Obligation Capital Notes, Series 2002A (the "Notes"), to finance the acquisition of new
equipment consisting primarily of public safety equipment, maintenance equipment and
other capital equipment having an expected useful life at least as long as the term of the
Notes; and
WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota
("Ehlers"), as its independent financial advisor for the Notes 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: Findinas. The City Council hereby authorizes Ehlers to solicit
proposals for the sale of the Notes.
2.
Meeting: Proposal Opening. The City Council shall meet at the time and place
specified in the Terms of Proposal for the purpose of considering sealed proposals
for, and awarding the sale of the Notes. The City Clerk, or designee, shall open
proposals at the time and place specified in such Terms of Proposal.
3. Terms of Proposal. The terms and conditions of the Notes and the sale thereof are
fully set forth in the Note 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 Notes 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
January, 2002. '
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ATTEST:
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Nancy Gibbs,