16-11186r RESOLUTION NO. 11186
RESOLUTION PROVIDING FOR THE SALE OF $3,085,000 GENERAL OBLIGATION
STORM WATER REVENUE BONDS, SERIES 2016A
WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore determined
that it is necessary and expedient to issue the City's $3,085,000 General Obligation Storm
Water Revenue Bonds, Series 2016A (the "Bonds") to finance the construction of a storm
water main from 66th Street to Monroe Park.
WHEREAS, the City has retained Ehlers &Associates, Inc. in Roseville, Minnesota
(Ehlers), as its independent municipal 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 p.m. on
Tuesday, April 26, 2016 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 22nd day of March,
2016.
Debbie Goettel, Mayor
ATTEST:
Elizabeth VanHoose, City Clerk