HomeMy WebLinkAboutResolution - 92-109 - Relating to G.O. Bonds and Authorizing Issuance and Calling for Sale in Amount of $1,100,000 - 05/19/1992 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY
RESOLUTION NO. 92-109
RESOLUTION RELATING TO GENERAL OBLIGATION PARK
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 Park Bonds, in the principal amount of $1,100 ,000 (the
"Bonds") , representing$4,500,000 of the Bonds authorized by the
electors of the City at the election held on March 17, 1992, to
provide funds to develop land and facilities for the City's
program of public recreation, and additional Bonds in the
principal amount of $ -Q- , representing interest as authorized
by Minnesota Statutes, Section 475.56. The Bonds shall be issued
pursuant to Minnesota Statutes, Section 471. 191 and Chapter 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 approval 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 as may be in the best
interests of the City. /
1
Mayor
Attest;gLnancoe
Director/Clerk