Res 2019-68 Sale of $5,125,000 GO TI BondsRESOLUTION NO. 2019 - 68
RESOLUTION PROVIDING FOR THE SALE OF
$5,125,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 2020A
WHEREAS, the City Council of the City of Fridley, Minnesota has heretofore determined that it
is necessary and expedient to issue the City's $5,125,000 General Obligation Tax Increment
Bonds, Series 2020A (the "Bonds"), to refinance a limited revenue tax increment note for the
Northern Stacks Development Project in the City; and
WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"),
as its independent municipal advisor for the Bonds 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, as follows:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City for
the sale of the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 pm on December 9,
2019, 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
12TH DAY OF NOVEMBER 2019.
SCOTT J. LUND - MAYOR
ATTEST:
DANIEL TIENTER - CITY CLERK