5.4. SR 07-19-2004 - Laserfiche WebLink

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Council Member Resolution No. introduced the following resolution and moved its adoption: Resolution Providing for the Sale of $940,000 Electric Revenue Bonds, Series 2004A mo Bo WHEREAS, the City Council of the City of Elk River, Minnesota, has heretofore determined that it is necessary and expedient to issue the City's $940,000 Electric Revenue Bonds, Series 2004A (the "Bonds"), to fund certain improvements to the City's electric utility system; and; 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 Elk River, Minnesota, as follows: 1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the Bonds. Meeting; Proposal Opening. The City Council shall meet at City Hall on August 2, 2004, for the purpose of considering a resolution awarding the sale of the Bonds, contingent upon the actual sealed bids being received on August 3rd and reviewed by a pricing committee appointed by the City Council. o 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. The motion for the adoption of the foregoing resolution was duly seconded by Council Member and, after full discussion thereof and upon a vote being taken thereon, the following Council Members voted in favor thereof: and the following voted against the same: Whereupon said resolution was declared duly passed and adopted. Dated this __ day of ., __ City Clerk Prepared by Ehlers & Associates, Inc.