HomeMy WebLinkAboutResolution 5726 � o�
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�',� G�' RESOLUTION OF THE CITY COUNCIL
L�kES�I�4� NO. �J 7 2 ►.
Resolution Providing for the Sale of
$4,500,000 General Obligation Street Reconstruction Bonds, Series 2008A
WHEREAS, the City Council of the City of Orono, Minnesota, (the"City"or"City Council")has
heretofore determined that it is necessary and expedient to issue the City's $4,500,000 General Obligation
Street Reconstruction Bonds, Series 2008A (the "Series 2008 Bonds"), to provide funds to finance street
reconstruction projects; and
WHEREAS,the Ci�y has retained Ehlers&Associates,Inc., in Roseville,Minnesota("Ehlers"),as
its independent financial advisor for the Series 2008 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 Orono, Minnesota, as follows:
1. Authorization; Findinas. The City Council hereby authorizes Ehlers to solicit proposals for the sale
of the Series 2008 Bonds.
2. MeetinQ; Proposa] Openin�g. Tl�e City Council shall meet at 7:00 pm oi1 March 10, 2008 for the
purpose of considering sealed proposals for and aw�arding the sale of the Series 2008 Bonds.
3. Official Statement. In connection with said sale, the officers or employees of the City are herebv
authorized to cooperate with Ehlers and participate in the preparation of an official statement for tne
Series 2008 Bonds and to eaecute and deliver it on behalf of the City upon its completion.
The motion far tl�e adoption of the foregoing resolution ��as duly seconded by Council Membe:-
xahn and, after full discussion thereof and upon a ��ote being taken thereon, the
followin� Coui�cil �7en�be.rs ��oted in favor tl�e;-�of:
Council Members Dave Rahn, Cynthia Bremer, Lili McMillan and Jim Murphy
Mayor Jim White
and the follov��in� voted a�,ainst the san�e:
None
Adopted by the City Council of tl�e Cit� of Orono. Minnesota, a� a re;ui�.;- n�eeti�l� n�;�;
FeUruary 25, 2008. �
ATTEST:
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Linda S. Vee, City Clerk Ja es M. White, Mavor
Pa��e i of 1