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• CITY OF LAKEVILLE
RESOLUTION
Resolution No. 07-192
RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF
GENERAL. OBLIGATION STATE-AID STREET BONDS, SERIES 2007G
WHEREAS, the City Council intends to issue its General Obligation State-Aid Street
Bonds, Series 2007G (the Bonds), in the aggregate principal amount of approximately
$3,775,000, pursuant to Minnesota Statutes, Section 162.18 and Chapter 475. The proceeds of
the Bonds, will be used, together with any additional funds of the City which might be required,
to finance state-aid street improvement projects within the City (the Projects).
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota as follows:
SECTION 1. ISSUANCE OF BONDS AUTHORIZED. It is hereby determined to be in
the best interests ofthe City to issue its General Obligation State-Aid Street Bonds, Series..
• 2007G, in the aggregate principal amount of approximately $3,775,000 pursuant to Minnesota
Statutes, Section 162.18 and Chapter 475.
SECTION 2. TERMS OF PROPOSAL. Springsted Incorporated, financial 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 Clerk. 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. Springsted Incorporated, as .independent financial advisers,
pursuant to Minnesota Statutes,. Section 475.60, Subdivision 2, paragraph (9) is hereby
authorized to solicit proposals for the Bonds 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 proposals for the purchase of the Bonds
and of taking such action thereon as maybe in the best interests of the City.
APPROVED AND ADOPTED this 19th day of November, 2007.
. CITY OF LAKEVILLE,
By:
y Dah or
ATTEST:
harlene Friedges, City Jerk
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