HomeMy WebLinkAboutResolution 4300 �
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�� . G'�� RESOLUTION OF THE CITY COUNCIL ,
. � �9kESH�4��' �. . � � NO. � � 4� o�. � . : .
RESOLUTION PROVIDING FOR THE SALE OF
$1,190,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1999
WHEREAS, the City Council of the City of Orono, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $1,190,000 General Obligatiori
Improvement Bonds, Series 1999 (the "Bonds"), to finance the construction of various sewer
. ir�iprove�r�ents in the City; �-�d
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� VVH�REAS,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 City of Orono;
Minnesota, as follows:
�"�:��" 1. Authorization. Findings. The City Council hereby authorizes Ehlers to solicit
�:� proposals for the sale of the Bonds.
. 2. Meeting; Proposal O�enin�. The City Council shall meet on June 28, 1999, for the
purpose of considering sealed proposals for and awarding the sale of the Bonds.
3. 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 prepazation
of an o�cial statement for the Bonds, and to execute and deliver it on behalf of the
City upon its completion.
. Adopted by the City Council of the City of Orono,Minnesota at a regular meeting held this
24th day of May; 1999 by a vote of 5 ayes and � riays. �
ATTEST: �
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Linda S. Vee, City Clerk Gab 'el Jabbour,Mayar
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