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<br /> <br />City of Elk River <br />REQUEST FOR COUNCIL ACTION <br />Agenda Section Meeting Date <br />Administration Februa 6,2006 <br />Item Description <br />Resolution Concurring in the Action of the Board of <br />Commissioners of the Public Utilities Commission of the City of <br />Elk River, Minnesota, in Providing for the Issuance and Sale of <br />$3,595,000 Electric Revenue Bonds, Series 2006A <br /> <br />Item Number <br />5.3. <br /> <br />Prepared by <br />Lori Johnson, City Administrator <br />Reviewed by <br /> <br />Introduction <br />Award sale of Electric Revenue Bonds of $3,595,000 for Elk River Municipal Utilities electric <br />improvement projects. <br /> <br />Discussion <br />Bids for this bond sale will be received February 6. Representatives of Ehlers and Associates will be at <br />the Council meeting to present the results of the sale. The Elk River Municipal Utilities Commission will <br />meet at noon on February 6 to approve the PUC resolution awarding the sale of these bonds. <br /> <br />Financial Impact <br /> <br />These bonds will be repaid with revenues from the electric utility. <br /> <br />Attachments <br />· Resolution 06-_ Concurring in the Action of the Board of Commissioners of the Public <br />Utilities Commission of the City of Elk River, Minnesota, in Providing for the Issuance and Sale <br />of $3,595,000 Electric Revenue Bonds, Series 2006A <br /> <br />· Utilities Commission Resolution Providing for the Issuance and Sale of $3,595,000 Electric <br />Revenue Bonds, Series 2006A and Pledging Net Revenues for the Security Thereof <br /> <br />Action Requested <br />It is requested that the Mayor and City Council adopt resolution 06-_ Concurring in the Action of the <br />Board of Commissioners of the Public Utilities Commission of the City of Elk River, Minnesota, in <br />Providing for the Issuance and Sale of $3,595,000 Electric Revenue Bonds, Series 2006A <br /> <br />Council Action <br /> <br />Motion by _ <br /> <br />Second by _ <br /> <br />Vote <br /> <br />Follow Up <br /> <br />S: \ Council\Lori\2006\BondSale Award.doc <br />