Laserfiche WebLink
<br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF <br />THE CITY OF ELK RIVER, MINNESOTA <br />HELD: November 2, 2020 <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of City of <br />Elk River, Minnesota, was duly called and held at the City Hall in the City on Monday, the 2nd <br />day of November, 2020, at 6:30 o’clock P.M. <br />The following members were present: <br />and the following were absent: <br />Member _______________________ introduced the following resolution and moved its <br />adoption: <br />RESOLUTION 20-____ <br />PROVIDING FOR THE COMPETITIVE <br />NEGOTIATED SALE OF $9,895,000 GENERAL OBLIGATION <br />CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2020A <br />BE IT RESOLVED by the City Council of the City of Elk River, Minnesota, as follows: <br />1. Finding; Amount and Purpose. It is hereby found, determined and declared that the <br />City of Elk River, Minnesota (the “City”), should issue $9,895,000 General Obligation General <br />Obligation Capital Improvement Plan Bonds, Series 2020A, to finance a portion of the capital <br />improvements identified in the City’s 2020-2025 Capital Improvement Plan adopted this same <br />date, including without limitation capital improvements related to the City’s Public Safety <br />Building and the City’s fire station #3. <br />2. Meeting. This City Council shall meet on the date and at the time and place <br />specified in the form of Terms of Proposal attached hereto as Exhibit A for the purpose of <br />awarding the sale of the Bonds. <br />3. Competitive Negotiated Sale. The City has retained Baker Tilly Municipal <br />Advisors, LLC (“Baker Tilly MA”) as an independent municipal advisor, and the City Council <br />hereby determines to sell the Bonds by private negotiation, by way of a competitive sale in <br />response to Terms of Proposal for the Bonds which are not published in any newspaper or journal. <br />4. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are <br />fully set forth in the “Terms of Proposal” attached hereto as Exhibit A and hereby made a part <br />hereof, provided that the Bonds may be issued in one or more series. <br />EL185-64-682677.v1 <br /> <br />