HomeMy WebLinkAboutResolution 3628 �w r, . '
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'�' RESOLUTION OF THE CITY COUNCIL
���kE o4�G No. 3 � � �
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RESOLUTION PROVIDING FOR THE SALE OF $1,910,000
GENERAL OBLIGATION REFUNDING BONDS
CITY OF ORONO, MIIVNESOTA
A. WI�EEREAS, the City Council of the City df Orono, N'iinnesota, has heretofore
determined that it is necessary and expedient to issue $1,910,000°General Obligation
Refunding Bonds (the "Bonds"), to refund the City's G.O. Improvement Bonds of 1985
and G.O. Water and Sewer Revenue Bonds of 1989; and
B. WI�EREAS, the City has retained Ehlers and Associates, Inc., in Minneapolis,
• 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, T�REFORE, BE I'T RESOLVED Uy the City Council of the Ciry of Orono,
Minnesota, as follows:
1. Authorization: Findin�s. The City Council hereby authorizes Ehlers to solicit proposals
for the sale of the Bonds.
2. Meetin�• Proposal Openin�. The Ciry Council shall meet on December 11, 1495, at
� 7:00 p.m. for the purpose of considering 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 preparation of an
official statement for the Bonds and to execute and deliver it on behalf of the City upon
' its completion.
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�b. - CITY of ORONO
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�� ��'�' RESOLUTION O�T�EG�CI�TY COUNCIL
�kESH.�4 NO.
The motion for the adoption of the foregoing resolution was introduced by Council Member
JoEl �n xurr and was duly seconded by Council Member �abriel JabboLr
and, after full discussion thereof and upon a vote being taken thereon, the following Council
Members voted in favor thereof:
Jabbour , Hurr, Callahan, Goetten and Kelley
and the following voted against the same:
None
Whereupon said resolution was declared duly passed and adopted this 13th day of November,
. 1995.
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AT ST: � Edward J. C -1lahan, Jr., Mayo v
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orothy . H lin, City Clerk
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