HomeMy WebLinkAbout20-065CITY OF LAKEVILLE
RESOLUTION NO. 20-65
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF GENERAL
OBLIGATION BONDS, SERIES 2020A
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 Bonds, Series 2020A, in the principal amount of approximately
$15,700,000 (the Bonds), pursuant to Minnesota Statutes, Sections 469.1812 through 469.1815, and
Chapters 429, 444, and 475 to finance: (i) the City's 2020 street improvement projects, (ii) certain
water projects; and (iii) certain parking lot improvements.
SECTION 2. TERMS OF PROPOSAL. Northland Securities, Inc., 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 Administrator. Each and all of the
provisions of the Terms of Proposal attached hereto are hereby adopted as the terms and
conditions of the Bonds and of the sale thereof. Northland Securities, Inc. 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 sealed bids for the purchase of the Bonds and
of taking such action thereon as may be in the best interests of the City.
ADOPTED by the Lakeville City Council this 15th day of June 2020.
CITY OF LAKEVILLE
Douglas P. • • •
ATTE T:
Charlene Friedges, Clerk
VOTE
Anderson
Hellier
Lee
Volk
Wheeler
Aye
GY
q/
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Nay
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Abstain
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Absent
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