00-081 RESBond Sale Report
Resolution No. Ol
Resolution Providing for the Sale of
$1,740,000 G.O. Tax Increment Bonds, Series 2000A
$1,275,000 G.O. Permanent Improvement Revolving Fund Bonds, Series 2000B
$900,000 G.O. Improvement Refunding Bonds, Series 2000C
$515,000 Taxable G.O. Tax Increment Refunding Bonds, Series 2000D
WHEREAS, the City Council of the City of Elk River, Minnesota, determines that it is necessary
and expedient to issue the City's $1,740,000 G.O. Tax Increment Bonds, Series 2000A to finance a portion
of the East Elk River Improvement Project; and
WHEREAS, the City Council determines that it is necessary and expedient to issue the City's
$1,275,000 G.O. Permanent Improvement Revolving Fund Bonds, Series 2000B to finance a portion of the
Western Area Improvement Project Phase IV; and
WHEREAS, the City Council determines that it is necessary and expedient to issue the City's
$900,000 G.O. Improvement Refunding Bonds, Series 2000C to refund the outstanding maturities of the
G.O. Improvement Bonds, Series 1992B; and
WHEREAS, the City Council determines that it is necessary and expedient to issue the City's
$515,000 Taxable G.O. Tax Increment Refunding Bonds, Series 2000D to refund the outstanding
maturities of the Taxable G.O. Tax Increment Bonds, Series 1989B and the Taxable G.O. Tax Increment
Bonds, Series 1990A; and
WHEREAS, the City has designated Ehlers & Associates, Inc., in Roseville, Minnesota CEhlers"),
as its independent financial advisor 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 City of Elk River, Minnesota, as
follows:
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 the time and place to be specified in
the Terms of Proposal for the purpose of considering sealed proposals for, and awarding the sale of the
Bonds. The City Clerk, or designee, shall open proposals at the time and place to be specified in such
Terms of Proposal.
3. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully set forth
in the Bond Sale Report and are hereby approved and made a part hereof.
17
Bond Sale Report
4. 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.
Dated: September 25, 2000
ATTEST
City Clerk
Mayor
18