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<br />RESOLUTION NO. 06-_ <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />Council Member <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION PROVIDING FOR THE SALE OF $3,220,000 GENERAL <br />OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2006C <br /> <br />A. WHEREAS, the City Council of the City of Elk River, Minnesota, has heretofore <br />determined that it is necessary and expedient to issue the City's $3,220,000 General <br />Obligation Capital Improvement Plan Bonds, Series 2006C (the "Bonds"), to finance the <br />construction of a library in the City; <br /> <br />B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota <br />("Ehlers"), as its independent fInancial advisor for the Bonds and is therefore authorized to <br />solicit proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, <br />Minnesota: <br /> <br />1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals for <br />the sale of the Bonds. <br /> <br />2. Meeting: Proposal Opening. The City Council shall meet at 6:30 P.M. on November 20, <br />2006, for the purpose of considering sealed proposals for and awarding the sale of the <br />Bonds. <br /> <br />3. Official Statement. In connection with said sale, the offIcers or employees of the City are <br />hereby authorized to cooperate with Ehlers and participate in the preparation of an official <br />statement for the Bonds and to execute and deliver it on behalf of the City upon its <br />completion. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Council Member <br />and, after full discussion thereof and upon a vote being taken <br />thereon, the following Council Members voted in favor thereof: <br /> <br />and the following voted against the same: <br /> <br />Whereupon said resolution was declared duly passed and adopted. <br /> <br />Dated this 6th day of November, 2006. <br /> <br />ATTEST <br /> <br />Stephanie Klinzing, Mayor <br /> <br />Joan Schmidt, City Clerk <br />