03-066 RES RESOLUTION NO. 03-66
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION PROVIDING FOR THE SALE OF
$2,020,000 G.O. WATER REVENUE BONDS SERIES 2003B
WHEREAS,
WHEREAS,
the City Council of the City of Elk River, Minnesota, has heretofore determined that it
is necessary and expedient to issue the City's $2,020,000 General Obligation Water
Revenue Bonds, Series 2003B (the "Bonds"), to finance public improvements in the City
and refund the $475,000 of the water portion of the G.O. PIR Bonds, Series 1993B, and
$510,000 of the G.O. Water Revenue Bonds, Series 1994D; and
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 Elk River, Minnesota, as follows:
I. Authorization; Findings-The City Council hereby authorizes Ehlers to solicit proposals for
the sale of the Bonds.
Meeting; Proposal Opening-The City Council shall meet at 6:30 p.m. on November 10,
2003, for the purpose of considering sealed proposals for and awarding the sale of the
Bonds.
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 foregoing resolution was introduced by Councilmember Motin and duly seconded by
Councilmember Diet~. . The following voted in favor of the Resolution:
~ayor Klinzing, Councilmembers Dietz, Kuester, Motin and Tveite
and the following voted against the resolution:
None
Passed and adopted this 13th day of
ATTEST:
Joan Sc37Iidt, City Clerk
S:\ADMIN \Resolutions \2003 Resolutions \ Unapproved\ Bondswater.doc
October
2003
- Steph~nie Klinzing, May~'/