HomeMy WebLinkAbout07-110 CITY OF LAKEVILLE
RESOLUTION
Resolution No. 07-110
RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF GENERAL
OBLIGATION IlVIPROVEMENT BONDS, SERIES 2007F
WHEREAS, the City Council intends to issue its General Obligation Improvement
Bonds, Series 2007F {the Bonds}, in the aggregate principal amount of approximately
$1,310,000, pursuant to Minnesota Statutes, Chapters 429 and 475. The proceeds of the Bonds
will be used, together with any additional. funds of the City which might be required, to finance
the Dakota Heights Improvement Project.
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 of the. City to issue its General Obligation Improvement Bonds, Series 2007F,
in the aggregate principal amount of approximately $1,310,000 pursuant to Minnesota Statutes,
• Chapters 429 and 475, to finance the Dakota Heights Improvement Project.
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 .18th day of June, 2007.
CITY O LAKEVILLE,
By:
Hol ah , a or
A ST•
i
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Charlene Frie ges, City erk