15-11063r RESOLUTION NO. 11063
RESOLUTION PROVIDING FOR THE SALE OF
$1,660,000 GENERAL OBLIGATION STREET RECONSTRUCTION BONDS
FOR THE 69TH STREET 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 $1,660,000 to finance the 69th 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.
Debbie Goettel, Mayor
ATTEST:
(
A _
Elizabeth an oose, City Clerk