15-11062r RESOLUTION NO. 11062
RESOLUTION PROVIDING FOR THE SALE OF
$2,690,000 GENERAL OBLIGATION STREET RECONSTRUCTION BONDS
FOR THE PORTLAND AVENUE PROJECT
WHEREAS, the City Council of the City of Richfield, Minnesota has heretofore
determined that it is necessary and expedient to issue General Obligation Street Reconstruction
Bonds in an amount not to exceed $2,690,000 to finance the Portland Avenue Street
Reconstruction Plan Project in the City. This will be part of the City's $9,435,000 General
Obligation Street Reconstruction Bonds, Series 2015A; and
WHEREAS, the City has retained Ehlers &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 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 at 7:00 PM on May 12,
2015, for the purpose of considering sealed 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 14th day of April,
2015.
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Debbie Goettel, Mayor
ATTEST:
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Elizabeth VanHoose, City Clerk