2015-076 Resolution Authorizing Ehlers to Proceed with Bond Sale - 2015CCity of Hopkins, MN
Resolution No. 2015-076
Council Member Gadd introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$4,490,000 General Obligation TIF Refunding Bonds, Series 2015C
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 $4,490,000 General Obligation TIF Refunding Bonds,
Series 2015C (the "Bonds"), to provide for a current refinancing of the HRA 2008 HRA Tax
Increment Revenue Bonds in the City; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ('Bhlers"), 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 Hopkins, Minnesota, as
follows:
1. Authorization; Findin�s. The City Council hereby authorizes Ehlers to assist the City for the sale of
the Bonds.
2. Meetin�; Proposal Opening. The City Council shall meet at 7:00 p.m. on November 3, 2015, 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.
The motion for the adoption of the foregoing resolution was duly seconded by City Council Member
Cummings and, after full discussion thereof and upon a vote being taken thereon, the following City
Council Members voted in favor thereof:
Mayor Maxwell, Council Members Cummings, Halverson, Gadd and Kuznia
and the following voted against the same:
None
Whereupon said resolution was declared duly passed and adopted.
Dated this 6th day of October, 2015.
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Eugene J. Maxwell, Mayor
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Attest Amy Domeier, City Clerk