1999-050Cl"1'Y OF HUPKINS
HENNEPIN COUNTY, MINNESOTA
~.
RESOLUTION 99-050
RESOLUTION PROVIDING FOR THE SALE OF
$3,210,000 TAXABLE GENERAL OBLIGATION HOUSING IMPROVEMENT AREA BONDS,
SERIES 1999B
$1,545,000 GENERAL OBLIGATION STORM SEWER REVENUE BONDS, SERIES 1999C
$850,000 GENERAL OBLIGATION PERMANENT IMPROVEMENT REVOLVING FUND
BONDS, SERIES 1999D
WHEREAS, the City Council of the City of Hopkins, Minnesota has determined that it is necessary and
desirable to issue the City's $3,210,000 Taxable General Obligation Housing Improvement Area Bonds,
Series 1999B; the $1,545,000 General Obligation Storm Sewer Revenue Bonds, Series 1999C; and
$850,000 General Obligation Permanent Improvement Revolving Fund Bonds, Series 1999D
(collectively the "Bonds"); as described in the Bond Sale Report dated June 10, 1999; and
WHEREAS, the City has designated Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers") as its
independent financial advisor and is therefore authorized to solicit proposals in accordance with
Minnesota Statutes, Section 475.60, Suddivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council 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 the time and place specified in the
Terms of Proposal 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.
Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully set forth
in the Bond Sale Report dated June 10, 1999.
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 held this 15th day of June, 1999.
ATTES-'F: -
Terry Ob~ ieny City Clerk