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RES 2008-27 - 14556RESOLUTION NO. 2008 - 27 RESOLUTION PROVIDING FOR THE SALE OF $3,725,000 GENERAL OBLIGATION WATER REVENUE BONDS, SERIES 2008B WHEREAS, the City Council of the City of Fridley, Minnesota, has heretofore determined that it is necessary and expedient to issue the City's $3,725,000 General Obligation Water Revenue Bonds Series 2008B (the "Bonds "), to finance improvements in 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 the City of Fridley, Minnesota: Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the Bonds. Meeting; Proposal Opening. The City Council shall meet at 7:30 P.M. on July 28, 2008, for the purpose of considering sealed proposals for and awarding the sale of the Bonds. 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 23rd DAY OF JUNE, 2008. _19e if �044tgy-o SCOTT r LUND - MAYOR ATTEST: 4L-414imw DEBRA A. SKOGEN — ITY CLERK