Resolution - #14-10-217 - 10/14/2014

Home

Councilmember Riley introduced the following resolution and moved for its adoption: RESOLUTION #14-10-217 RESOLUTION PROVIDING FOR THE SALE OF $875,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES SERIES 2014A WHEREAS, the City Council of the City of Ramsey, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $875,000 General Obligation Equipment Certificates, Series 2014A (the "Bonds"), to finance equipment to be purchased in 2015, 2016 and 2017 for the City; and WHEREAS , the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent financial advisor for the Certificates 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 THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: 1) Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the Bonds. 2) Meeting; Proposal Opening. The City Council shall meet at 7:00 P.M. on November 12, 2014, 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 Certificates and to execute and deliver it on behalf of the City upon its completion. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Tossey, and upon vote being taken thereon, the following voted in favor thereof: Mayor Strommen Councilmember Riley Councilmember Tossey Councilmember Johns Councilmember Kuzma Councilmember LeTourneau and the following voted against the same: None