99-8762r
19
RESOLUTION NO. 8762
RESOLUTION AUTHORIZING THE SALE OF THE TAX EXEMPT GENERAL
OBLIGATION VARIABLE RATE DEMAND TAX INCREMENT BONDS, SERIES 1999
IN AN AMOUNT NOT TO EXCEED $1,650,000
WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's Tax Exempt General
Obligation Variable Rate Demand Tax Increment Bonds, Series 1999, in an amount not
to exceed $1,650,000; 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: Findinas. The City Council hereby authorizes 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 13th day of
September, 1999 .
~~u
Martin J. Kir , ayor
ATTEST:
~~~
Thomas P. Ferber, City Clerk