HomeMy WebLinkAbout14-052CITY OF LAKEVILLE
RESOLUTION NO. 14-52
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
$13,730,000 GENERAL OBLIGATION REFUNDING BONDS,
SERIES 2014B
BE IT RESOLVED by the City Council of the City of Lakeville, 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 Refunding Bonds, Series 2014B, in the principal amount of $13,730,000
(the Bonds), pursuant to Minnesota Statutes, Chapter 475, to refund the 2017-2026 maturities of
the City's General Obligation Street Reconstruction Bonds, Series 2005A and the 2018-2032
maturities of the City's General Obligation Capital Improvement Plan Bonds, Series 2007D.
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 City 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 at the time and place shown in the
Terms of Proposal, 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.
APPROVED this 16u' day of June, 2014
CITY OF LAKEVILLE,
By:
Ma ittle, Ma or
ATTEST:
Charlene Friedges, City