10-10441rRESOLUTION NO. 10441
RESOLUTION PROVIDING FOR THE SALE OF
$6,465,000 GENERAL OBLIGATION TAX INCREMENT
REFUNDING BONDS, SERIES 20106
A. WHEREAS, the City Council of the City of Richfield, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $6,465,000 General
Obligation Tax Increment Refunding Bonds, Series 20106 (the "Bonds"), provide funds
sufficient for a crossover refunding on August 1, 2011, of all of the City's callable
General Obligation Tax Increment Bonds, Series 2001A, dated April 1, 2001, issued in
the amount of $8,350,000, callable in the amount of $6,275,000, which mature on
February 1 in the years 2011 through 2024; and
B. 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:
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 December 14,
2010, 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 of Richfield, Minnesota on this 9th day of em r, 2010.
Debbie Goettel, Mayor
ATTEST:
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Nancy Gibbs ity Clerk