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EXTRACT OF MINUTES OF MEETING OF THE <br /> ELK RIVER MUNICIPAL UTILITIES COMMISSION <br /> HELD: April 13, 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 13th day of April, 2021, at 3:30 P.M. for the purpose in part of <br /> authorizing the competitive negotiated sale of the $1,750,000 General Obligation Water Utility <br /> Revenue Bonds, Series 2021C. <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 Paul Bell introduced the following resolution and moved its adoption: <br /> Resolution No. 21-9 <br /> RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED <br /> SALE OF $1,750,000 <br /> GENERAL OBLIGATION WATER UTILITY REVENUE BONDS, SERIES 2021C <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 $1,750,000 General Obligation Water Utility <br /> Revenue Bonds, Series 2021 C (the "Bonds") to finance the construction of a field house <br /> facility to house service trucks, 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 herebyauthorizes Baker Filly' 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 /> EL 185-69-710069.v 1 <br />