1996-095CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 96-95
RESOLUTION PROVIDING FOR THE SALE OF $2,240,000
G.O. TAX INCREMENT BONDS, SERIES 1997A
WHEREAS, the City Council of the City of Hopkins, Minnesota, has heretofore
determined that it is necessary and expedient to issue the City's $2,240,000 G.O. Tax Increment
Bonds, Series 1997A (the °'Bonds"), to finance the construction of improvements to Excelsior
Boulevard; and
WHEREAS, the City has retained Ehlers and Associates, Inc., in Minneapolis, 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:
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 the time and place specified in
the Bond Sale Report for the Bonds dated November 12, 1996, 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 specified in such Terms of Proposal.
3. Terms of Proposal. The terms and conditions of the Bond and the sale the~ecsf as fully set
forth in the Bond Sale Report are hereby approved.
4. 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.
Adopted by the City Council of the City of Hopkins this 19th day of November, 1996.
Charles D. Redepenning, Mayor
erry O e maier, City Clerk