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RES 16-31
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RES 16-31
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8/17/2017 2:26:19 PM
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City Government
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RES
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5/16/2016
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of the Commission and shall not constitute a debt for which the full faith and credit or taxing <br />powers of the City will be pledged. <br />3. Terms of Sale. The City hereby approves the issuance of the Bonds and Terms of <br />Proposal and delegates to the Commission the authority to award the sale of the Bonds in an <br />aggregate principal amount not to exceed $1,460,000. The resolution of the Commission <br />awarding the sale of the Bonds, fixing the form and details of the Bonds, establishing the terms <br />of the Bonds and the security therefor, and providing for the execution and delivery of the Bonds <br />shall have the same force and effect as if such resolution had been adopted by this Council. <br />4. Consultants. This Council hereby approves the selection of Springsted <br />Incorporated, in Saint Paul, Minnesota ("Springsted"), as municipal advisor to the City and the <br />Commission, to assist in the offer and sale of the Bonds, and hereby approves the selection of <br />Kennedy & Graven, Chartered, as bond counsel to the City and the Commission, to render an <br />approving legal opinion with respect to the Bonds. <br />5. Continuing Disclosure. The City and the Commission will enter into a <br />Continuing Disclosure Certificate (the "Certificate"), dated the date of closing, a form of which <br />is on file with the City. The Mayor and City Clerk of the City are hereby authorized to sign the <br />Certificate. <br />6. Official Statement. In connection with said competitive negotiated sale, the <br />Finance and Office Manager and other officers or employees of the Commission and the officers <br />or employees of the City are hereby authorized to cooperate with Springsted and participate in <br />the preparation of an official statement for the Bonds, and to execute and deliver it on behalf of <br />the Commission and the City upon its completion. <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br />WESTGAARD and, after full discussion thereof and upon a vote being taken thereon, the <br />following voted in favor thereof: MAYOR DIETZ, COUNCILMEMBERS OLSEN, WESTGAARD, BURANDT, <br />AND WAGNER <br />and the following voted against the same: NONE <br />Whereupon said resolution was declared duly passed and adopted.. <br />J n J. Dietz, ayor <br />ATTEST <br />478987v1 JSB EL185-42 2 <br />Tina Allard, <br />City Clerk <br />478987v1 JSB EL185-42 2 <br />
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