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RESOLUTION NO. 03-67 <br /> <br /> A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION PROVIDING FOR THE SALE OF <br />$1,795,000 G.O. IMPROVEMENT BONDS SERIES 2003A <br /> <br />WHEREAS, <br /> <br />the City Council of the City of Elk River, Minnesota, has heretofore determined <br />that it is necessary and expedient to issue the City's $1,795,000 General <br />Obligation Improvement Bonds, Series 2003A (the "Bonds"), to finance public <br />improvements in the City; and <br /> <br />WHEREAS, <br /> <br />the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), <br />as its independent financial advisor for the Bonds and is therefore authorized to <br />solicit proposals in accordance with Minnesota Statutes, Section 475.60, <br />Subdivision 2(9); <br /> <br />NOW THEREFORE, BE IT RESOLVED by the City Council of Elk River, Minnesota, as follows: <br /> <br />I. Authorization; Findings-The City Council hereby authorizes Ehlers to solicit proposals for the <br /> sale of the Bonds. <br /> <br />2. Meeting; Proposal Opening-The City Council shall meet at 6:30 p.m. on November 10, 2003, for <br /> the purpose of considering sealed proposals for and awarding the sale of the Bonds. <br /> <br />Official Statement.-In connection with said sale, the officers or employees of the City are hereby <br />authorized to cooperate with Ehlers and participate in the preparation of an official statement <br />for the Bonds and to execute and deliver it on behalf of the City upon its completion. <br /> <br />The foregoing resolution was introduced by CouncilmemberMotin and duly seconded by <br />Councilmember Tveite . The following voted in favor of the Resolution: <br /> <br />Mayor Klinzing, Councilmembers Dietz, Kuester, Motin and Tveite <br /> <br />and the following voted against the resolution: <br /> <br />None <br /> <br />Passed and adopted this ~ day of Octobez~.003. <br /> <br />ATTEST: <br /> <br />Joan Sc,h'midt, City Clerk <br />S: \ ADt~flN \Resolutions \ 2003 Resolutions ~ Unapproved \ BondsGo.doc <br /> <br /> <br />