HomeMy WebLinkAboutResolution - 92-108 - Relating to G.O. State Aid Bonds and Authorizing the Issuance and Calling for Sale in Amount of $1,940,000 - 05/19/1992 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY
RESOLUTION NO. 92-108
RESOLUTION RELATING TO GENERAL OBLIGATION
STATE- AID BONDS; AUTHORIZING THE ISSUANCE AND
CALLING FOR THE SALE THEREOF
BE IT RESOLVED by the City Council of the City of Eden
Prairie, Minnesota (the "City") , as follows :
Section 1 . Findings . It is hereby determined to be
necessary and expedient for the City to sell and issue its General
Obligation State Aid Bonds, in the principal amount of $1,940,000
(the "Bonds") , for the purpose of financing improvements to
various state-aid streets in .the City, pursuant to Minnesota
Statutes, Chapters 162 and 475.
Section 2 . Terms of Proposal. Springsted Incorporated,
financial consultant to the City, is hereby directed to prepare
and present to this Council a form of Terms of Proposal for the
Bonds which, upon appifoval by this Council, shall be placed on
file in the office of the City Finance Director/Clerk. Springsted
Incorporated, as an independent financial adviser, pursuant to
Minnesota Statutes, Section 475. 60, Subdivision 2, paragraph (9)
is hereby authorized to solicit bids for the Bonds on behalf of
the City on a negotiated or competitive basis .
• Section 3". Sale Meeting. This Council shall meet at
the City Hall on Tuesday, June 16, 1992, at 7 :30 o'clock p.m. , for
the purpose of considering sealed bids for the purchase of the
Bonds, and of taking such action reon a may be in the best
interests of the_ City.
Mayor
Attest:
C nance Director/Clerk
•