HomeMy WebLinkAboutResolution - 2012-17 - Authorize Sale 2012B Refunding Bonds - 01/17/2012 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2012-17
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
$3,240,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN
CROSSOVER REFUNDING BONDS, SERIES 2012B
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 Capital Improvement Plan Crossover Refunding Bonds, Series 2012B, in
the principal amount of approximately$3,240,000 (the"Bonds'), pursuant to Minnesota
Statutes, Chapter 475,to provide funds to be used to refund, in an advance crossover refunding,
all or a portion of the 2016 through 2027 maturities of the City's General Obligation Capital
Improvement Plan Bonds, Series 2006B,dated, as originally issued, as of July 1, 2006.
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 171h day of January, 2012.
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ATTEST:
KaAleen Porta, City Clerk