HomeMy WebLinkAbout21-155CITY OF LAKEVILLE
RESOLUTION NO. 21-155
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2022A
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 2022A, in the principal amount of approximately
$15,020,000 (the Bonds), pursuant to Minnesota Statutes, Sections 475.521 and 475.58, Subdivision 3b,
and Chapters 429 and 475 to (a) refund in a current refunding and redeem on February 1, 2022, the
outstanding maturities of the following issues of the City: (i) General Obligation Improvement Bonds,
Series 2012A, (ii) General Obligation Refunding Bonds, Series 2012B, and (iii) General Obligation
Improvement Bonds, Series 2013A and (b) 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 this 1St day of November 2021
CITY OF LAKEVILLE
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ATTEST:
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Charlene Friedges, City Cler
VOTE
Anderson
Bermel
Hellier
Lee
Volk
Aye
CY
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CY
L9'
6Y
Nay
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❑
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❑
❑
Abstain
❑
❑
❑
❑
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Absent
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