Res 2020- 59 Providing for the Sale of GO Bonds Series 2020AResolution 2020-59
Councilmember Petschel introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$3,665,000 General Obligation Bonds, Series 2020A
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 $3,665,000 General Obligation Bonds, Series
2020A (the "Bonds"), to finance the reconstruction of Marie Avenue from Dodd Road to Lexington
Avenue and to provide for a current refunding of the 2012A GO Improvement Bonds in the City; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its
independent municipal 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 6:00 p.m. on October 20, 2020, 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 Mayor Garlock and, after
full discussion thereof and upon a vote being taken thereon, the following City Council Members voted in
favor thereof:
Mayor Garlock, Council members Paper, Petschel
and the following voted against the same: Duggan, Miller
Whereupon said resolution was declared duly passed and adopted.
Dated this 15th day September, 2020
ATTEST:
Lorri Smith, City Clerk
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
Neil Garlock, Mayor