HomeMy WebLinkAbout2002-158 CCRMemberEd Nelson introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2002-158
RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE
OF $1,205,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES
2003A
A. WHEREAS, the City Council of the City of Brooklyn Center, Minnesota,
has heretofore determined that it is necessary and expedient to issue its $1,205,000 General
Obligation Improvement Bonds, Series 2003A (the "Bonds") to finance various improvements;
and
B. WHEREAS, the City has retained Springsted Incorporated, in Saint Paul,
Minnesota ("Springsted"), as its independent financial advisor and is therefore authorized to sell
these obligations by a competitive negotiated sale in accordance with Minnesota Statutes,
Section 475.60, Subdivision 2(9); and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, as follows:
1. Authorization: Findines. The City Council hereby authorizes Springsted
to solicit bids for the competitive negotiated sale of the Bonds.
2. Meeting: Bid Onenine. This City Council shall meet at the time and place
specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of considering
sealed bids for, and awarding the sale of, the Bonds. The Manager or his designee, shall open
bids at the time and place specified in such Terms of Proposal.
3. Terms of Proposal. The terms and conditions of the Bonds and the
negotiation thereof are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and
hereby approved and made a part hereof.
4. Official Statement. In connection with said competitive negotiated sale,
the Manager and other officers or employees of the City are hereby authorized to cooperate with
Springsted 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.
November 12, 2002
to Mayor
ATTEST:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kay Lasman
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kay Lasman, Ed Nelson, Bob Peppe, and Tim Ricker;
and the following voted against the same: n o n e ;
whereupon said resolution was declared duly passed and adopted.