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Resolution No. <br />Council Member introduced the following resolution and moved its adoption: <br />Resolution Providing for the Sale of <br />Up to $7,450,000 Taxable G.O. Tax Increment Bonds, Series 2012 <br />A. WHEREAS, the City Council of the City of Ramsey, Minnesota, has heretofore determined that it is <br />necessary and expedient to issue up to the City's $7,450,000 Taxable G.O. Tax Increment Bonds, <br />Series 2012 (the "Bonds "), to finance certain qualified costs related to the construction of the COR <br />Apartments in the City; and <br />B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ( "Ehlers "), as its <br />independent financial advisor for the Bonds and is therefore authorized to solicit proposals in <br />accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ramsey, Minnesota, as <br />follows: <br />1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale <br />of the Bonds. <br />2. Meeting; Proposal Opening. The City Council shall meet at 7:00 p.m. on April 24, 2012, for the <br />purpose of considering sealed proposals for and awarding the sale of the Bonds. <br />3. Official Statement. In connection with said sale, the officers or employees of the City are hereby <br />authorized to cooperate with Ehlers and participate in the preparation of an official statement for the <br />Bonds and to execute and deliver it on behalf of the City upon its completion. <br />The motion for the adoption of the foregoing resolution was duly seconded by Council Member <br />and, after full discussion thereof and upon a vote being taken thereon, the <br />following Council Members voted in favor thereof: <br />and the following voted against the same: <br />Whereupon said resolution was declared duly passed and adopted. <br />Dated this 28th day of February, 2012. <br />City Clerk <br />