Resolution 20-24 - Sale of Utility Revenue & Refunding BondsResolution No. 20-24
Resolution Providing for the Sale of
$1,570,000 General Obligation Utility Revenue and Refunding Bonds, Series 2020A
A. WHEREAS, the City Council of the City of Spring Park, Minnesota has heretofore determined that it
is necessary and expedient to issue the City's $1,570,000 General Obligation Utility Revenue and
Refunding Bonds, Series 2020A (the "Bonds"), to finance sanitary sewer and water main
improvements in the City, and to refinance the City's remaining Series 2010A Bonds; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its
independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60,
Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Spring Park, Minnesota, as
follows:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City for the sale of
the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 PM on November 16, 2020, for the
purpose of considering proposals for and awarding the sale of the Bonds.
3. Official Statement. In connection with said sale, the officers or employees of the City 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 City upon its completion.
Councilmember Hoffman introduced the resolution and moved its adoption:
The motion for the adoption of the foregoing resolution was duly seconded by City Council Member
Chase and, after full discussion thereof and upon a vote being taken thereon, the following City Council
Members voted in favor thereof:
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
Dated this 19' day of October, 2020.
Attest:
Dan Tolsma, Acting City Clerk