Laserfiche WebLink
EXTRACT OF MINUTES OF MEETING OF THE <br /> ELK RIVER MUNICIPAL UTILITIES COMMISSION <br /> HELD: March 9, 2021 <br /> Pursuant to due call and notice thereof, a regular meeting of the Elk River Municipal <br /> Utilities Commission, was duly held in the Elk River Fire Station EOC Conference Room, 13073 <br /> Orono Parkway in said City on the 9th day of March, 2021, at 3:30 P.M. for the purpose in part <br /> of authorizing the competitive negotiated sale of the $14,460,000 Electric Revenue Bonds, Series <br /> 2021B. <br /> The following members were present: Chair John Dietz, and Commissioners Paul Bell, <br /> Al Nadeau, Mary Stewart, and Matt Westgaard <br /> and the following were absent:None <br /> Member Mary Stewart introduced the following resolution and moved its adoption: <br /> Resolution No. 21-2 <br /> RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED <br /> SALE OF $14,460,000 <br /> ELECTRIC REVENUE BONDS, SERIES 2021B <br /> A. WHEREAS, the Elk River Municipal Utilities Commission (the <br /> "Commission"), has heretofore determined that it is necessary and expedient that the City of <br /> Elk River, Minnesota (the "City") issue its $14,460,000 Electric Revenue Bonds, Series 2021B <br /> (the 'Bonds") to finance the construction of a field house facility to house service trucks, <br /> inventory, and offices of the Elk River Municipal Utilities; and <br /> B. WHEREAS, the Commission has retained Baker Tilly Municipal Advisors, <br /> LLC, in Saint Paul, Minnesota ("Baker Tilly"), as its independent municipal advisor and is <br /> therefore authorized to sell these obligations by a competitive negotiated sale in accordance with <br /> Minnesota Statutes, Section 475.60, Subdivision 2(9); and <br /> NOW, THEREFORE, BE IT RESOLVED by the Elk River Municipal Utilities <br /> Commission, as follows: <br /> 1. Authorization; Findings. The Commission hereby authorizes Baker Tilly to <br /> solicit bids for the competitive negotiated sale of the Bonds. <br /> 2. Meeting; Bid Opening. This Commission shall meet at the time and place <br /> specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of considering <br /> sealed bids for, and awarding the sale of, the Bonds. The Finance Manager or designee, shall <br /> .-� open bids at the time and place specified in such Terms of Proposal. <br /> EL185-68-699669 vl <br />