Res 2016-18 Providing for Sale of GO Water Rev Bonds
RESOLUTION NO. 2016 - 18
RESOLUTION PROVIDING FOR THE SALE OF $6,210,000 GENERAL OBLIGATION
WATER REVENUE BONDS, SERIES 2016A
WHEREAS, the City Council of the City of Fridley, Minnesota, has heretofore determined that it is
necessary and expedient to issue the City's $6,210,000 General Obligation Water Revenue Bonds,
Series 2016A (the "Bonds"), to finance the 2016 and 2017 water system improvement projects in
the City and to provide funds to advance crossover refund the 2018 through 2023 maturities of the
City’s General Obligation Water Revenue Bonds, Series 2008B; 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, that the City Council of the City of Fridley, Minnesota:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City with
the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 P.M. on May 9, 2016, 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.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS
th
11 DAY OF APRIL, 2016.
______________________________
SCOTT J. LUND - MAYOR
ATTEST:
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DEBRA A. SKOGEN - CITY CLERK