Res 02-04HHRA IN AND FOR THE CITY OF MOUND, MINNESOTA
RESOLUTION NO. 02-04H
RESOLUTION PROVIDING FOR THE SALE OF $6,860,000 PUBLIC SAFETY
BUILDING LEASE REVENUE BONDS, SERIES 2002
BE IT RESOLVED by the Board of Commissioners (the "Board") of the City of Mound
Housing and Redevelopment Authority, Minnesota (the "Authority") as follows:
1. Background
1.1
1.2
1.3
The City Council of the City of Mound, Minnesota, has heretofore determined that
it is necessary and expedient to issue the Authority's $6,860,000 Public Safety
Building Lease Revenue Bonds (the "Bonds"), to finance a public safety building.
The Authority has the statutory authority to issue bonds to finance the Project
and to enter into a lease with the City to provide security for the Bonds.
The Authority has designated Ehlers & Associates, Inc., in Roseville, Minnesota
("Ehlers"), as its independent financial advisor and is therefore authorized to
solicit proposals in accordance with Minnesota Statutes, Section 475,60,
Subdivision 2(9).
2. Action
2.1 Authorization; Findings. The Authority hereby authorizes Ehlers to solicit
proposals for the sale of the bonds.
2.2 Meeting; Proposal Openings. The Board shall meet at the time and place to be
specified in the Terms of Proposal for the purpose of considering sealed
proposals for, and awarding the sale of the bonds. The City Clerk or designee,
shall open proposals at the time and place to be specified in such Terms of
Proposal.
2.3 Terms of Proposal. The terms and conditions of the Bonds and the sale thereof
are fully set forth in the Bond Sale Report and are hereby approved and made a
part hereof.
2.4 Official Statement. In connection with said sale, the officers or employees of the
Authority are hereby authorized to cooperate with Ehlers and participate in the
preparation of an official statement for the Bonds and to execute and deliver it on
behalf of the Authority upon its completion.
The foregoing resolution was moved by Commissioner Hanus and seconded by
Commissioner Osmek.
The following voted in the affirmative: Brown, Hanus, Meisel, Osmek and Meyer.
The following voted in the negative: None.
Adopted by the HRA this 28th day of May, 2002.
Attest: Bonnie Ritter, City Clerk
Chairperson Pat Meisel I