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_ity of <br /> <br />iver <br /> <br />ITEM 5.5. <br /> <br />MEMORANDUM <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor & City Council <br /> <br />Lori Johnson, Asst. City Administrator~ <br /> <br />June 3, 1996 <br /> <br />Approval of Resolutions Providing for <br />the Issuance and Sale of the City's <br />$2,655,000 General Obligation Sewer <br />Revenue Bond, Series 1996A and <br />$500,000 General Obligation <br />Improvement Bond, Series 1996B <br /> <br />On Monday, June 3, the city will receive bids on the sale of two bond issues <br />previously approved by the City Council. The first issue relates to the <br />expansion at the Wastewater Treatment Plant, and the second issue is to <br />fund public improvements in the Hillside Crossing II development. <br /> <br />Dave MacOillivray of Springsted will be available at Monday's Council <br />meeting to present the bid results. At that time I will also provide the <br />Council information regarding the city's latest bond rating as determined by <br />Moody's Investors Service. <br /> <br />A copy of the Official Statement for the above issues is attached for your <br />information and review. Due to new SEC rules, the city must annually <br />provide a disclosure document on these issues; the Official Statement will <br />serve as that document. Continuing Disclosure will be discussed in more <br />detail at the meeting. <br /> <br />Action Requested <br /> <br />The City Council is asked to approve the two attached resolutions (due to the <br />length of the resolutions, not all pages are attached) which will award the <br />sale of the city's $2,655,000 General Obligation Sewer Revenue Bond, Series <br />1996A and $500,000 General Obligation Improvement Bond, Series 1996B. <br /> <br />council:gobond <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />