8.1. SR 06-16-2014 - Laserfiche WebLink

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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ELK RIVER, MINNESOTA HELD: June 16, 2014 Pursuant to due call and notice thereof, a regular meeting of the City Council of City of Elk River, Minnesota, was duly called and held at the City Hall in the City on Monday, the 16th day of June, 2014, at 6:00 o'clock P.M. The following members were present: and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF $10,000,000 GENERAL OBLIGATION SEWER REVENUE BONDS, SERIES 2014B BE IT RESOLVED by the City Council of the City of Elk River, Minnesota, as follows: 1. Finding; Amount and Purpose. It is hereby found, determined and declared that the City of Elk River, Minnesota (the "City"), should issue $10,000,000 General Obligation Sewer Revenue Bonds, Series 2014B, to finance Waste Water Treatment Facility improvements within the City. 2. Meeting. This City Council shall meet on the date and at the time and place specified in the form of Terms of Proposal attached hereto as Exhibit A for the purpose of awarding the sale of the Bonds. 3. Competitive Negotiated Sale. The City has retained Springsted Incorporated as an independent financial advisor, and the City Council hereby determines to sell the Bonds by private negotiation, by way of a competitive sale in response to Terms of Proposal for the Bonds which are not published in any newspaper or journal. 4. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and hereby made a part hereof. 5. Official Statement. The City Finance Director and other officers or employees of the City are hereby authorized to participate with Springsted Incorporated in the preparation of an official statement for the Bonds. 445268v1 JSB EL185-27