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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 05--.5.L <br /> <br />Councilmember Motin <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />CITY OF ELK RIVER <br />RESOLUTION PROVIDING FOR THE SALE OF <br />$1,695,000 G.O. SEWER REVENUE REFUNDING BONDS, SERIES 2005B <br /> <br />WHEREAS the City Council of the City of Elk River, Minnesota, has heretofore determined that <br />it is necessary and expedient to issue the City's $1,695,000 G. O. Sewer Revenue <br />Refunding Bonds, Series 2005B (the "Bonds"), to refinance in advance of its call <br />date, a portion of the G.O. Sewer Revenue Bonds, Series 1996; and <br /> <br />WHEREAS the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as <br />its independent financial advisor for the Bonds and is therefore authorized to solicit <br />proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of Elk River, Minnesota, as <br />follows: <br /> <br />1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals <br />for the sale of the Bonds. <br /> <br />.2. <br /> <br />Meeting: Proposal Opening. The City Council shall meet at 6:30 p.m. on May 16, 2005, <br />for the purpose of considering sealed proposals for and awarding the sale of the Bonds. <br /> <br />3. Official Statement. In connection with said sale, the officers or employees of *e City are <br />hereby authorized to cooperate with Ehlers and participate in the preparation ?f an <br />official statement for the Bonds and to execute and deliver it on behalf of the ~ity upon <br />its completion, <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilm~mber <br />Gumphrey and, after full discussion thereof and upon a vote being taken thereon, tlp.e <br />following Councilmembers voted in favor thereof: I <br /> <br />Mayor Klinzing, Councilmembers Dietz, Farber, Gumphrey, anJ Motin <br /> <br />and the following voted against the same: <br /> <br />None <br /> <br />Whereupon said resolution was declared duly passed and adopted. <br /> <br />Dated this 2nd day of May, 2005 <br /> <br />A TIEST <br /> <br />~~ <br />. -s~P- me Kbmmg, - - . <br /> <br />~~ <br /> <br />