HomeMy WebLinkAbout99-257 CITY OF LAKEVILLE
RESOLUTION
DATE: November 1, 1999 RESOLUTION NO: 99-257
MOTION BY Ryan SECONDED BY Sindt
RESOLUTION AUTHORIZING SOLICITATION OF BIDS FOR SALE OF
$590,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF
INDEBTEDNESS, SERIES 1999A
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 Equipment Certificates of Indebtedness, Series 1999A, in the principal
amount of $590,000. (the Certificates), pursuant to Minnesota Statutes, Chapters 412.301 and 475
to finance the costs of acquiring certain items of capital equipment.
SECTION 2. TERMS OF PROPOSAL. Springsted Incorporated, financial consultant to the
City, has presented to this Council a form of Terms of Proposal for the Certificates which is
attached hereto and hereby approved and shall be placed on file by the Clerk. Each and all of the
provisions of the Terms of Proposal are hereby adopted as the terms and conditions of the
Certificates and of the sale thereof. Springsted Incorporated, as independent financial advisers,
pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby
authorized to solicit bids for the Certificates on behalf of the City on a negotiated basis.
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 Certificates
and of taking such action thereon as maybe in the best interests of the City.
APPROVED AND ADOPTED this 1St day of November, 1999.
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CITY OF LAKEVILLE
By
Duane Zaun, yor
ATTEST:
Charlene Friedges, City rk
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