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2-• RESOLUTION 02- <br /> 110 <br /> A RESOLUTION OF THE CITY OF ELK RIVER <br /> ECONOMIC DEVELOPMENT AUTHORITY <br /> A RESOLUTION PROVIDING FOR THE SALE OF PUBLIC PROJECT <br /> REVENUE BONDS, SERIES 2002A <br /> WHEREAS, the Board of Commissioners (the "Board of Commissioners") of <br /> the Economic Development Authority of the City of Elk River, <br /> Minnesota (the "Authority"), has heretofore determined that it is <br /> necessary and expedient to issue Public Project Revenue Bonds, <br /> Series 2002A, in an amount not to exceed $9,700,000 (the <br /> "Bonds"), to provide funds for the construction of a new Public <br /> Safety Building and for the renovation of and construction of an <br /> addition to the existing City Hall in the City of Elk River (the <br /> "City"); and <br /> WHEREAS, the Authority, in cooperation with the City, has retained Ehlers <br /> & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its <br /> independent financial advisor for the Bonds and it is therefore <br /> authorized to solicit proposals in accordance with Minnesota <br /> • Statutes, Section 475.60, Subdivision 2(9); <br /> NOW THEREFORE BE IT RESOLVED by the Board of Commissioners of <br /> the Economic Development Authority of the City of Elk River, Minnesota, as <br /> follows: <br /> 1. Authorization: Findings. The Board of Commissioners hereby <br /> authorizes Ehlers to solicit proposals for the sale of the Bonds. <br /> 2. Meeting: Proposal Opening. The Board of Commissioners shall meet <br /> on August 12, 2002, at such time as will be determined, for the purpose <br /> of considering sealed proposals for, and awarding the sale of the Bonds. <br /> The Secretary, or designee, shall open proposals at the time and place as <br /> will be determined in cooperation with Ehlers. <br /> 3. Terms of Proposal. The terms and conditions of the Bonds and the <br /> sale thereof will be fully set forth in a Bond Sale Report to be prepared <br /> and provided to the Board of Commissioners by Ehlers. <br /> 4. Official Statement. In connection with said sale, the officers or <br /> employees of the Authority and the City are hereby authorized to <br /> cooperate with Ehlers and participate in the preparation of an official <br /> • <br /> statement for the Bonds and to execute and deliver it on behalf of the <br /> Authority and the City upon its completion. <br />