96-8403r
78
RESOLUTION NO. 8403
RESOLUTION PROVIDING FOR THE SALE OF $5,075,000 GENERAL OBLIGATION
TAXABLE TAX INCREMENT BONDS,
SERIES 1996
WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $5,075,000 General
Obligation Taxable Tax Increment Bonds, Series 1996 (the "Bonds"), to finance the
construction of various improvements in the City; and
WHEREAS, the City has retained Ehlers and Associates, Inc. in Minneapolis,
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. Meeting: Proposal Opening. The City Council shall meet on December 9,
1996 at 7:00 p.m. for the purpose of considering 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 12th day of
November, 1996.
Martin J. Kir p
ATTEST:
7krwMJ p~
Thomas P. Ferber, City Clerk