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RESOLUTION 14-31 <br /> EX,7RACT OF MINUTES OF A MEETING OF THE <br /> CITY COUNCIL OF <br /> THE CITY OF ELK RIVER, MINNESOTA <br /> HELD: June 16, 2014 <br /> Pursuant to due call and notice thereof, a regular meeting of the City Council of City <br /> of Elk River, Minnesota, was duly called and held at the City Hall in the City on Monday, the 16th <br /> day of June, 2014, at 6:00 o'clock P.M. <br /> The following members were present: Mayor Dietz, Council-members Wilson, <br /> Westgaard, Burandt, and Motin <br /> and the following were absent: None <br /> Member Wilson introduced the following resolution and <br /> moved its adoption: <br /> RESOLUTION PROVIDING FOR THE COMPETITIVE <br /> NEGOTIATED SAFE OF $10,000,000 GENERAL OBLIGATION <br /> SEWER REVENUE BONDS, SERIES 20148 <br /> BE IT RESOLVED by the City Council of the City of Elk River, Minnesota, as <br /> follows: <br /> 1. Finding, Amount and_PjgVose. It is hereby found, determined and declared <br /> that the City of Elk River, Minnesota (the "City"), should issue $10,000,000 General Obligation <br /> Sewer Revenue Bonds, Series 2014B, to finance Waste Water Treatment Facility improvements <br /> within the City. <br /> 2. Mew. 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 Springsted Incorporated <br /> as an independent financial advisor, and the City Council hereby determines to sell the Bonds by <br /> private negotiation, by way of a competitive sale in response to Terms of Proposal for the Bonds <br /> which are not published in any newspaper or journal. <br /> 4. Terms of Proposal. The terms and conditions of the Bonds and the sale <br /> thereof are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and hereby made <br /> a part hereof. <br /> 5. Official Statement. The City Finance Director and other officers or <br /> employees of the City are hereby authorized to participate with Springsted Incorporated in the <br /> preparation of an official statement for the Bonds. <br /> 445268v1 JSB EL]55-27 <br />