81-6545R72
-- RESOLUTION NO. 6545'
RESOLUTION RELATING TO $2,450,000
GENERAL OBLIGATION REDEVELOPMENT BONDS OF 1981;
AUTHORIZING THEIR NEGOTTATION AND SALE.
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BE IT RESOLVED By the City Council of the City of Richfield,
Minnesota, as follows:
1. This Council by Resolution No. 6538.(-the "Sale Resolu-
tion"), adopted November 23, 1981 authorizing-the issuance and sale of
$2,450,000 General. Obligation Redevelopment Bonds of 1981 (the
"Bonds") and authorizing the advertisement for sale of the Bonds.
2. .The Bonds were duly advertised for sale in the manner
prescribed by law.
3. The City Clerk has reported that no bids for the pur-
chase of the Bonds were received at the time and place specified for
the receipt thereof.
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- 4. Pursuant to the provisions of Minnesota Statutes,
Section. 475.60, Subdivision 3, this Council hereby determines that it
is necessary and desirable for the sound financial management of the
City and the Lyndale-Hub-Nicollet Redevelopment Project that the Bonds
be offered for sale by negotiation on the same terms as fixed by .the
Sale Resolution.
S. The City Manager, with the assistance of Evensen-Dodge,
Inc..., financial-advisers to the City, are authorized and directed to
solicit offers to purchase the. Bonds on the same terms as fixed by the
Sale Resolution, and to submit any offer received to the Council on or
before January. l3, 1982.
6. Nothing herein is intended to prevent the Council from
adopting a resolution offering the Bonds for public sale on the same
or different terms and conditions as those fixed in the Sale Resolu-
tion during the period set by paragraph S, but upon. the adoption of
such a resolution no further consideration shall be given to offers
- for the Bonds on the terms specified in the Sale Resolution.
gassed by the City Council of the City of Richfield this 16th day of
December, 1981..
Donald J. Priebe Mayor
ATTEST:
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S a K. Bergh City Clerk