RES 2005-20 - 00013378RESOLUTION NO. 2005 -20
Council Member Barnette introduced the following resolution and moved its adoption:
RESOLUTION PROVIDING FOR THE SALE OF $4,625,000 G.O. TAX INCREMENT
REFUNDING BONDS, SERIES 2005B
WHEREAS, the City Council of the City of Fridley, Minnesota, has heretofore determined that it is
necessary and expedient to issue the City's $4,625,000 G.O. Tax Increment Refunding Bonds, Series
2005B (the "Bonds "), to refund the $9,575,000 G.O. Tax Increment Bonds, Series 1997A of the City; and
WHEREAS, 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 Fridley, Minnesota, as follows:
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 City Hall on May 23, 2005, 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 preparation of an official statement for the
Bonds 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 Council Member Wolfe
and, after full discussion thereof and upon a vote being taken thereon, the following Council Members
voted in favor thereof: Billings, Wolfe, Bolkeom, Barnette and Lund
and the following voted against the same: None
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS -25TH DAY
OF APRIL 2005.
ATTEST:
A ��
SCOTT J. IJIMEf, MA R
Prepared by Ehlers & Associates, Inc.