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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 06-04 <br /> <br />Council Member Farber <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION PROVIDING FOR THE SALE OF <br />$3,595,000 ELECTRIC REVENUE BONDS, SERIES 2006A <br /> <br />A. WHEREAS, the City Council of the City of Elk River, Minnesota, has heretofore determined that it <br />is necessary and expedient to issue the City's $3,595,000 Electric Revenue Bonds, Series 2006A (the <br />"Bonds"), to fund certain improvements to the City's electric utility system; and; <br /> <br />B. 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 proposals in <br />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 follows: <br /> <br />1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale <br />of the Bonds. <br /> <br />2. Meeting; Proposal Opening. The City Council shall meet at City Hall on February 6, 2006, for the <br />purpose of considering a resolution awarding the sale of the Bonds. <br /> <br />3. Official Statement. In connection with said sale, the officers or employees of the City are hereby <br />authorized to cooperate with Ehlers and participate in the preparation of an official statement for the <br />Bonds and to execute and deliver it on behalf of the City upon its completion. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Council Member <br />Mot in and, after full discussion thereof and upon a vote being taken thereon, the <br />following Council Members voted in favor thereof: <br /> <br />Mayor Klinzing, Councilmembers Dietz, Farber, Gumphrey, and Motin <br /> <br />and the following voted against the same: <br />Whereupon said resolution was declared duly passed and adopted. Dated this 9th day of January, 2006. <br /> <br /> <br /> <br />2006-04 <br />