Res 1996-90 OT H17
RESOLUTION NO. 90 - 96
RESOLUTION INITIATING THE PROCESS FOR THE SALE OF THE
CITY'S $2, 935, 000 GENERAL OBLIGATION BONDS, SERIES 1996A
BE IT RESOLVED by the City Council of the City of Fridley,
Minnesota, as follows:
1 . It is hereby determined:
(a) The City has duly ordered the making of, and has
undertaken or will undertake, various assessable and
other public improvements (the "Improvements") within
the City, pursuant to and in full conformity with the
Home Rule Charter of the City and/or Minnesota Statutes,
Section 444 .075 or Chapter 429, as the case may be.
(b) It is necessary and expedient to the sound financial
management of the affairs of the City that the City
issue its general obligation bonds pursuant to Minnesota
Statutes, Section 444 . 075 and chapters 429 and 475, to
provide financing for the Improvements.
(c) The City has retained Springsted Incorporated, in St.
Paul, Minnesota ("Springsted") , as its independent
financial advisor for the Bonds and is therefore
authorized to sell the Bonds by a competitive negotiated
sale in accordance with Minnesota Statutes, Section
475. 60, Subdivision 2 (9) .
2 . The terms and conditions of the Bonds and the sale thereof
are fully set forth in the "Terms of Proposal" for the City
of Fridley' s $2, 935, 000 General Obligation Bonds, Series
1996A, and the Council shall met at the time and place
specified for the purpose of considering bids for the
purchase, and awarding the sale, of the Bonds.
PASED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS
30TH DAY OF SEPTEMBER, 1996.
14/14. j, 7tee,
WILLIAM J.WEE - MAYOR
ATTEST
L;A„,„v_
lit
WILLIAM A. CHAMPA —CITY CLERK