HomeMy WebLinkAboutResolution - 2001-194 - Authorize Issuance and Sale of $1,000,000 in G.O. Bonds to Fund Eden Prairie's Portion of the Joint Public Safety Training Center - 12/20/2001 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,MINNESOTA
RESOLUTION NO.2001-194
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
$1,000,000 GENERAL OBLIGATION BONDS, SERIES 2002
BE IT RESOLVED by the City Council of the City of Eden Prairie,Minnesota(the"City"), as
follows:
SECTION 1. BACKGROUND. On June 2, 1997,pursuant to Laws, 1997 Chapter 231,Art. 16,
Sec. 22,the Minnesota legislature enacted special legislation authorizing the City to authorize
and issue its general obligation bonds to finance the City's portion of the cost of a joint project
(the"Project")between the City,the City of Bloomington,the City of Edina and the
Metropolitan Airports Commission. On November 29,2001,pursuant to Laws 1997, Chapter
231, Art. 16, Sec. 22,the City published notice in the official newspaper of the City of its intent
to authorize and issue bonds.
SECTION 2. PURPOSE. It is hereby determined to be in the best interests of the City to issue
its $1,000,000 General Obligation Bonds, Series 2002 (the"Bonds"),pursuant to Minnesota
Statutes, Chapter 475, as amended, and Laws 1997, Chapter 231,Art. 16, Sec. 22 to finance the
City's portion of the Project. The Project will finance the acquisition, construction and equipping
of a public safety training facility to train firefighters and law enforcement officers.
SECTION 3. AUTHORIZATION. It is hereby determined to be in the best interests of the City
to issue the Bonds. The City Finance Director and the Issuer's financial consultant are hereby
authorized and directed to solicit one or more proposals for the purchase of the Bonds, and to
present such proposal or proposals to this Council at a subsequent Council meeting for approval.
The actions of the City's staff in making an anticipatory levy for the Bonds for collection in 2002
are hereby approved,ratified and confirmed.
Adopted by the Eden Prairie City Council this 20th day of December,2001.
4 c yr uk cting Mayor
ATTEST:
Kafhleen Porta, City Clerk