Res 2016-70 Providing for Sale of Bonds
RESOLUTION NO. 2016 – 70
RESOLUTION PROVIDING FOR THE SALE OF $50,505,000
GENERAL OBLIGATION CAPITAL IMPROVEMENT
PLAN BONDS, SERIES 2017A
WHEREAS, the City Council of the City of Fridley, Minnesota, has heretofore determined that it is
necessary and expedient to issue the City's $50,505,000 General Obligation Capital Improvement
Plan Bonds, Series 2017A (the "Bonds"), to provide funds for the 2017 through 2021 Capital
Improvement Plan and specifically the project area known as the Civic Campus which includes
facilities for Fire, Police, City Hall and Public Works.
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 January 9, 2017,
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
28 DAY OF NOVEMBER, 2016.
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SCOTT J. LUND - MAYOR
ATTEST:
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DEBRA A. SKOGEN - CITY CLERK