RES 06-015
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EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE
CITY OF ELK RIVER, MINNESOTA
HELD: February 6, 2006
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of
Elk River, Minnesota, was duly called and held at the City Hall in the City of Elk River, Minnesota
on February 6, 2006, at 6:30 o'clock P.M.
The following members were present:
Mayor Klinzing, Councilmembers Dietz, Farber, Gumphrey, and Motin
and the following were absent:
None
Member Motin introduced the following resolution and moved its adoption:
RESOLUTION 06-15
CONCURRING IN THE ACTION OF THE BOARD OF COMMISSIONERS OF THE
PUBLIC UTILITIES COMMISSION OF THE CITY OF ELK RIVER, MINNESOTA, IN
PROVIDING FOR THE ISSUANCE AND SALE OF $3,595,000 ELECTRIC REVENUE
BONDS, SERIES 2006A
A. WHEREAS, the Public Utilities Commission of the City of Elk River, Minnesota
(the "Commission") has determined to undertake capital improvements to the municipal electric
light and power plant and distribution system of the City (the "Electric System") consisting of
improvements and extensions to the Electric System (the "Project"); and will finance the Project by
the issuance of the City's $3,595,000 Electric Revenue Bonds, Series 2006A (the "Series 2006A
Bonds "); and
B. WHEREAS, the Commission has presented to the City Council a copy of a
resolution (the "Bond Resolution") entitled "Resolution Providing for the Issuance and Sale of
$3,595,000 Electric Revenue Bonds, Series 2006A and Pledging Net Revenues for the Security
Thereof," to be considered for adoption by the Commission.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota, the City Council hereby concurs in the Bond Resolution of the Commission providing
for the issuance and sale of the Series 2006A Bonds, hereby joins in and adopts the Bond Resolution
and makes the determinations and findings set forth in the Bond Resolution with the same force and
effect as if the Bond Resolution had been adopted by the City Council.
The motion for the adoption of the foregoing resolution was seconded by member
Farber and upon a vote being taken thereon, the following voted in favor thereof:
Mayor Klinzing, Councilmembers Dietz, Farber, Gumphrey, and Motin
and the following voted against the same:
None
06-15
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Passed and adopted by the City Council of the City of Elk River this 6th day of February, 2006.
ATTEST:
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