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^rr ■ r • <br />> - 1,^ <br />0« <br />RESOLUTION PROVIDING FOR THE SALE OF $1,910,000 <br />GENERAL OBLIGATION REFUNDING BONDS <br />CITY OF ORONO, MINNESOTA <br />A.WHEREAS, the City Council of the City of Orono, Minnesou, has heretofore <br />determined that it is necessary and expedient to issue $1,910,000 General Obligation <br />Refunding Bonds (the "Bonds"), to refund the City ’s G.O. Improvement Bonds of 1985 <br />and G.O. Water and Sewer Revenue Bonds of 1989; and <br />B.WHEREAS, the City has retained Eblers and Associates, Inc., in Minneapolis, <br />Minnesota ("Ehlers"), as its independent financial advisor for the Bonds and is therefore <br />authorized to solicit proposals in accordance with Minnesota Statutes, Section 475.60, <br />Subdivision 2(9); <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Orono, <br />Minnesota, as follows: <br />1.Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals <br />for the sale of the Bonds. <br />2.Meeting: Proposal Opening. The City Council shall meet on December 11, 1995, at <br />7:00 p.m. for the purpose of considering proposals for, and awarding the sale of the <br />Bonds. <br />Official Statement. In connection with said sale, the officers or employees of the City <br />are hereby authorized to cooperate with Ehlers and participate in the preparation of an <br />official statement for the Bonds and to execute and deliver it on behalf of the City upon <br />its completion. <br />irilhiiiii ifiiifiriiiii