HomeMy WebLinkAbout20-138CITY OF LAKEVILLE
RESOLUTION NO. 20-138
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF GENERAL
OBLIGATION BONDS, SERIES 2021 A
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 Tax Abatement Bonds, Series 2021A, in the principal amount not to exceed $8,100,000
(the Bonds), pursuant to Minnesota Statutes, Sections 469.1812 through 469.1815 and Chapter 475, to
finance various improvements to the Lakeville Arenas and to pay costs associated with the issuance of the
Bonds.
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 16th day of November, 2020.
CITY OF LAKEVILLE
By:
Douglas P. Anderson, Mayor
ATTEST:
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Charlene Friedges, City Clerk
4�/
VOTE
Anderson
Hellier
Lee
Volk
Wheeler
Aye
C�
COY
C-
CY
M/
Nay
O
O
0
O
O
Abstain
O
O
O
11
O
Absent
O
O
O
11
O
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