99-8757r
RESOLUTION NO. 8757
14
RESOLUTION AUTHORIZING THE SALE OF THE TAXABLE GENERAL
OBLIGATION VARIABLE RATE DEMAND TAX INCREMENT BONDS, SERIES 1999
IN AN AMOUNT NOT TO EXCEED $2,800,000 PLUS ASSOCIATED COSTS OF
ISSUANCE
WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's Taxable General
Obligation Variable Rate Demand Tax Increment Bonds, Series 1999, in an amount not
to exceed $2,800,000 plus associated costs of issuance; 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 Richfield,
Minnesota, as follows:
1. Authorization: Findings. The City Council hereby authorized Ehlers to solicit
proposals for the sale of the Bonds.
2. 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 23rd day of
August, 1999 .
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Martin J. Kir , Mayor
ATTEST:
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Thomas P. Ferber, City Clerk