16-30 - 05-03 - Issuance Indebtedness Bond 2016B Resolution 16-30 May 3, 2016
Member Snope introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF $800,000 GENERAL
OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS BONDS,
SERIES 2016B
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 Equipment Certificates of Indebtedness, Series 2016B, in the
principal amount of$800,000 (the Certificates), pursuant to Minnesota Statutes, Section
412.301 and Chapter 475, to finance various items of capital equipment.
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 Certificates 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 Certificates 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 Certificates on behalf of the City on a negotiated basis.
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 Certificates and of taking such
action thereon as may be in the best interests of the City.
She and M. Harris, ayor
ATTEST:
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Kristine A. Luedke, City Clea
The motion for the adoption of the foregoing resolution was seconded by Member
Schmidgall and upon a vote being taken thereon, the following voted in favor thereof:
Snope, Clausen, Fonnest, Harris 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.