16-29 - 05-03 - Issuance of General Obligation Bonds 2016A Resolution 16-29 May 3, 2016
Member Snope introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF $1,290,000
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2016A
BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota (the
City), as follows:
SECTION 1. PURPOSE. It is hereby determined to be in the best interests of the City to
issue its General Obligation Improvement Bonds, Series 2016A, in the principal amount of
$1,290,000 (the Bonds), pursuant to Minnesota Statutes, Chapters 429 and 475, to finance
various street improvement projects in the City.
SECTION 2. TERMS OF PROPOSAL. Springsted Incorporated, financial consultant to the
City, has presented to this Council a form of Terms of Proposal for the Bonds which is
attached hereto and hereby approved and shall be placed on file by the Clerk. Each and all
of the provisions of the Terms of Proposal are hereby adopted as the terms and conditions
of the Bonds and of the sale thereof. Springsted Incorporated is hereby authorized,
pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9), to solicit
proposals for the Bonds on behalf of the City on a competitive basis without requirement of
published notice.
SECTION 3. SALE MEETING. This Council shall meet on June 7, 2016, at 6:30 p.m. for
the purpose of considering proposals for the purchase of the Bonds and of taking such
action thereon as may be in the best interests of the City.
Shep rd M. Harris,'Mayor
ATTEST:
Kristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Clausen
and upon a vote being taken thereon, the following voted in favor thereof: Harris, Clausen,
Snope, Fonnest and Schmidgall and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and his signature attested by the City Clerk.