03-067 RES RESOLUTION NO. 03-67
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION PROVIDING FOR THE SALE OF
$1,795,000 G.O. IMPROVEMENT BONDS SERIES 2003A
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 $1,795,000 General
Obligation Improvement Bonds, Series 2003A (the "Bonds"), to finance public
improvements in the City; and
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 Elk River, Minnesota, as follows:
I. 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 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 CouncilmemberMotin and duly seconded by
Councilmember Tveite . The following voted in favor of the Resolution:
Mayor Klinzing, Councilmembers Dietz, Kuester, Motin and Tveite
and the following voted against the resolution:
None
Passed and adopted this ~ day of Octobez~.003.
ATTEST:
Joan Sc,h'midt, City Clerk
S: \ ADt~flN \Resolutions \ 2003 Resolutions ~ Unapproved \ BondsGo.doc