HomeMy WebLinkAbout18-056CITY OF LAKEVILLE
RESOLUTION NO. 18-56
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF
GENERAL OBLIGATION STREET RECONSTRUCTION
REFUNDING BONDS, SERIES 2018B
BE IT RESOLVED by the City Council (the 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 Street Reconstruction Refunding Bonds, Series 2018B (the Bonds),
pursuant to Minnesota Statutes, Chapter 475 and Section 475.58, Subdivision 3(b), to (i) refund
the 2019 through 2030 maturities of the City's Taxable General Obligation Street Reconstruction
Bonds, Series 2009A (Build America Bonds), dated December 30, 2009; and (ii) pay costs of
issuing the Bonds.
SECTION 2. TERMS OF PROPOSAL. Springsted Incorporated, municipal advisor 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 Administrator. 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, with such changes thereto as the City Administrator shall approve.
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.
SECTION 3. SALE MEETING. This Council shall meet on July 16, 2018, 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.
ADOPTED this 4t' day of June 2018
CITY OF LAKEVILLE
By:
D glas P. Anderson, Mayor
ATTEST:
harlene Friedges, City Clerk