03-10 Resolution No. 11727 RESOLUTION NO. 11727
RESOLUTION PROVIDING FOR THE SALE OF
$5,375,000 GENERAL OBLIGATION BONDS, SERIES 2020A
WHEREAS, the City Council of the City of Richfield, Minnesota has heretofore
determined that it is necessary and expedient to issue the City's $5,375,000 General
Obligation Bonds, Series 2020A (the "Bonds"), to finance the City's 2020 Street
Reconstruction project, the 65th Street Water Main Lining Project, and the current
refunding of the Series 2011A General Obligation Water Revenue Bonds in the City;
and
WHEREAS, the City has retained Ehlers &Associates, Inc., in Roseville,
Minnesota ("Ehlers"), as its independent municipal advisor for the Bonds 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 assist the
City with the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 PM on April 28,
2020, 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 10th day of March,
2020. r( CC(2i.6)
Maria Regan Gon a4ez, Mayor
ATTEST:
Elizabeth VanHoose, City Clerk