Res 2015- 78 Providing for Sale of GO BondsCITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2015-78
Council Member Duggan introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$1,205,000 General Obligation Bonds, Series 2015A
$1,560,000 General Obligation Refunding Bonds, Series 2015B, and
$2,045,000 General Obligation Refunding Bonds, Series 2015C
A. WHEREAS, the City Council of the City of Mendota Heights, Minnesota has heretofore determined
that it is necessary and expedient to issue the City's $1,205,000 General Obligation Bonds, Series
2015A, $1,560,000 General Obligation Refunding Bonds, Series 2015B, and $2,045,000 General
Obligation Refunding Bonds, Series 2015C (the "Bonds"), to finance street reconstruction, the purchase
of capital equipment, and effect a current refunding of the callable maturities of the City's General
Obligation Bonds, Series 2007A and General Obligation Improvement Bonds, Series 2008A; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its
independent financial advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60,
Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mendota Heights, Minnesota,
as follows:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City for the sale of the
Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 8:00 p.m. on November 3, 2015, for the
purpose of considering proposals for and awarding the sale of the Bonds.
3. Official Statement. In connection with said sale, the officers or employees of the City are hereby
authorized to cooperate with Ehlers and participate in the preparation of an official statement for the
Bonds and to execute and deliver it on behalf of the City upon its completion.
The motion for the adoption of the foregoing resolution was duly seconded by City Council Member
Petschel and, after full discussion thereof and upon a vote being taken thereon, the following City Council
Members voted in favor thereof. Duggan, Norton, Petschel, Povolny, Mayor Krebsbach.
and the following voted against the same: None.
Whereupon said resolution was declared duly passed and adopted.
Adopted by the Mendota Heights City Council this 6`1' day of October 2015.
CITY COUNCIL
:ITY F ME
NDOTA HEIGHTS
AT Sandra Krebs or
Lorri Smith, City Clerk