2014-052 Providing Sale of GO Refunding BondsResolution No. 2014-052
Council Member Cummings introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$6,545,000 General Obligation Refunding Bonds, Series 2014B
A. WHEREAS, the City Council of the City of Hopkins, Minnesota has heretofore determined that it is
necessary and expedient to issue the City's $6,545,000 General Obligation Refunding Bonds, Series
2014B (the "Bonds"), to finance a current refunding of the 2016 to 2023 maturities of the City's
$9,920,000 General Obligation Improvement Bonds, Series 2007A and to finance a current refunding
of the 2016 to 2018 maturities of the City's $1,995,000 General Obligation Improvement Bonds,
Series 200713; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its
independent financial advisor for the Bonds and is therefore authorized to solicit proposals in
accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hopkins, Minnesota, as
follows:
1. Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale
of the Bonds.
2. Meeting, Proposal Opening. The City Council shall meet at 7:00 p.m. on October 21, 2014, for the
purpose of considering sealed 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.
The motion for the adoption of the foregoing resolution was duly seconded by City Council Member
Halverson and, after full discussion thereof and upon a vote being taken thereon, the following City
Council Members voted in favor thereof: Cummings, Gadd, Halverson, Youakim, Maxwell.
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
Dated this 16th day of September, 2014.
OLOJ-ek�
Attest: Amy Domeier, City Clerk
ugen . Maxwell, Mayor