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<br />RESOLUTION 07-_ <br /> <br />Council Member <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION PROVIDING FOR THE SALE OF $3,135,000 <br />G.O. IMPROVEMENT BONDS, SERIES 2007C <br /> <br />WHEREAS, the City Council of the City of Elk River, :Minnesota, has heretofore detennined that it <br />is necessary and expedient to issue the City's $3,135,000 G.O. Improvement Bonds, Series 2007C <br />(the "Bonds"), to fund certain improvements to the City's infrastructure; and; <br /> <br />WHEREAS, the City has retained Ehlers & Associates, Inc. in Roseville, 11innesota ("Ehlers"), as <br />its independent fmandal advisor for the Bonds and is therefore authorized to solicit proposals in <br />accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); <br /> <br />NOW, THEREFORE BE IT RESOLVED by the City Council of Elk River, J\.finnesota, as <br />follows: <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 City Hall on June 4, 2007, for <br />the purpose of considering a resolution awarding the sale of the 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 />Tne 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 thereon, the following <br />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 />Passed and adopted this 21" day of May, 2007. <br /> <br />Stephanie Klinzing, Mayor <br /> <br />ATTEST <br /> <br />Tina Allard, City Clerk <br />