Res 2005- 68 Sale of GO Bonds Series 2005ACouncil Member Schneeman
Resolution No. 05 -68
introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$790,000 General Obligation Improvement Bonds Series 2005A
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 $790,000 General Obligation Improvement Bonds Series
2005A (the "Bonds "), to finance the cost of the 2005 Public Improvements in the City; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ( "Ehlers "), as its
independent financial advisor for the Bonds and is therefore authorized to solicit proposals 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:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the
Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:30 P.M. on October 4, 2005, for the
purpose of considering sealed 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 Council Member
Duggan and, after full discussion thereof and upon a vote being taken thereon, the
following Council Members voted in favor thereof:
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
Dated this 6th day of September 2005.
Ka hleen M. Swanson;='City Clerk