HomeMy WebLinkAbout06-03HOUSING AND REDEVELOPMENT AUTHORITY OF THE
CITY OF LAKEVILLE
RESOLUTION
06-3
RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF
$9,230,000 LEASE REVENUE BONDS (ICE ARENA PROJECT),
SERIES 2006
WHEREAS, the Board of Commissioners (the Board) of the Housing and
Redevelopment Authority of the City of Lakeville, Minnesota (the Authority), conducted a
public hearing on October 2, 2006 on the construction of the third sheet ice arena project (the
Project) and the financing thereof, pursuant to Section 147(f) of the Internal Revenue Code of
1986, as amended (the Code), following published notice in the official newspaper of the City of
Lakeville, Minnesota at least once not fewer than fourteen (14) nor more than thirty (30) days
prior to the date thereof, and
WHEREAS, the Authority intends to issue its Lease Revenue Bonds (Ice Arena Project),
Series 2006, in the aggregate principal amount of $9,230,000 (the Bonds), pursuant to Minnesota
Statutes, Sections 465.71, 469.012, 469.041, 469.034, 469.035, 471.59, and 475.79, to finance
the Project; and
WHEREAS, the City has heretofore approved the issuance of the Bonds by the Authority
to finance the Project, pursuant to Section 147(f) of the Code; and
BE IT RESOLVED by the Board as follows:
SECTION 1: ISSUANCE OF BONDS AUTHORIZED. It is hereby determined to be in the
best interests of the Authority to issue the Bonds.
SECTION 2. NEGOTIATED SALE. Springsted Incorporated, as independent financial advisor,
pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby
authorized to negotiate the sale of the Bonds on behalf of the Authority with Piper Jaffray & Co.,
in Minneapolis, Minnesota, as senior manager, with compensation to the purchasers not
exceeding 1.2% of par.
SECTION 3. SALE MEETING. This Board shall meet on November 20, 2006, for the purpose
of considering the proposal for the purchase of the Bonds and of taking such action thereon as
may be in the best interests of the Authority.
APPROVED AND ADOPTED this 16`" day of October, 2006.
HOUSING AND REDEVELOPMENT
AUTHORITY OF THE CITY OF
LAKEVILLE, MINNESOTA
WjW9 AWI /IR11FAI&I I
Chairperson t �1
ATTEST:
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