HomeMy WebLinkAboutResolution - 2012-16 - Authorize Sale 2012A Refunding Bonds - 01/17/2012 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2012-1 G
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
$5,230,000 GENERAL OBLIGATION CROSSOVER
REFUNDING BONDS,SERIES 2012A
BE IT RESOLVED by the City 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 Crossover refunding Bonds, Series 2012A, in the principal amount of
approximately$5,230,000(the"Bonds"),pursuant to Minnesota Statutes,Chapter 475,to
provide funds to he used to refund, in an advance crossover refunding, all or a portion of the
2021 through 2026 maturities of the City's General Obligation Bonds, Series 2005C, dated, as
originally issued, as of December 1, 2005, and as reissued on April 17, 2007.
SECTION 2. SALE. Northland Securities, Inc. is hereby authorized,pursuant to Minnesota
Statutes, Section 475.60, Subdivision 2,paragraph(9),to solicit proposals for the Bonds on
behalf of the City on a competitive basis without requirement of published notice. The Council
shall meet at the time and place shown in the Notice of Sale prepared 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 the 17`h day of January, 2012.
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ATTEST:
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Teen Porta, City Clerk