HomeMy WebLinkAboutResolution - 2010-72 - General Obligation Fund Bonds, Series 2010A - 10/05/2010 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,MINNESOTA
RESOLUTION NO. 2010-72
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF GENERAL OBLIGATION
PERMANENT IMPROVEMENT REVOLVING FUND BONDS, SERIES 2010A
BE IT RESOLVED by the City Council (the Council)of the City of Eden Prairie,
Minnesota(the City), as follows:
SECTION 1. PURPOSE. It is hereby determined to be in the best interests of the City to
issue its General Obligation Permanent Improvement Revolving Fund Bonds, Series 2010A, in
the principal amount of$1,190,000(the Bonds)pursuant to Minnesota Statutes, Chapters 429
and 475,to finance various improvement projects in the City.
SECTION 2. PROPOSALS FOR SALE. The Bonds are exempt from the public sale
requirements of Chapter 475 pursuant to Minnesota Statutes, Section 475.60, subdivision 2,
paragraph(9). Northland Securities, Inc. is hereby authorized to solicit proposals for the Bonds
on behalf of the City on a negotiated basis in accordance with the Notice of Sale.
SECTION 3. SALE MEETING. This Council shall meet at the time and place shown in
the Notice of Sale for the Bonds for the purpose of considering proposals for the purchase of the
Bonds and of taking such action thereon as may be in the best interests of the City.
ADOPTED by the Eden Prairie City Council on October 5, 2010.
d-V (/),t�"
Phil Young, Mayo
ATTEST:
SEAL
Ka Teen Porta, City Clerk