08-10164rRESOLUTION NO. 10164
RESOLUTION PROVIDING FOR THE SALE OF
$516,000 GENERAL OBLIGATION CAPITAL NOTES, SERIES 20086
WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore determined
that it is necessary and expedient to issue the City's $515,000 General Obligation Capital
Notes, Series 20086 (the "Notes") to finance the acquisition of new equipment. consisting•
primarily of public safety equipment, maintenance equipment, computer equipment and
other capital equipment having an expected useful life at least as long as the term of the
Notes; and
WHEREAS, the City has retained Ehlers & Associates, Inc. in Roseville, Minnesota
("Ehlers"), as its independent financial advisor for the Notes and is therefore authorized to
solicit proposals in accordance with Minnesota Statutes, Section 475;
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 Notes.
2. Meeting; Proposal Opening. The City Council shall meet at the time and place to
be specified in the Terms of Proposal for the purpose of considering sealed proposals
for, and awarding the sale of the Notes. The City Clerk, or designee, shall open
proposals at the time and place specified in such Terms of Proposal.
3. Terms of Proposal. The terms and. conditions of the Notes and the sale thereof are
fully set forth in the Note Sale Report and are hereby approved and made a part
hereof.
4. 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 Notes 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 28th day of October,
2008.
Debbie Goettel, Mayor
ATTEST:
Nancy Gibb City Clerk