HomeMy WebLinkAbout07-035 CITY OF LAKEVILLE
RESOLUTION NO. 07-35
RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF LIQUOR
REVENUE BONDS, SERIES 2007
WHEREAS, the City of Lakeville, Minnesota (the City) intends to construct, furnish and
equip a new liquor store to replace a smaller, existing liquor store in the City (the Project); and
WHEREAS, to finance the Project, it is determined to be in the best interests of the City
to issue its Liquor Revenue Bonds, Series. 2007, in the aggregate principal amount of $4,000,000
subject to adjustment in accordance with the Terms of Proposal (the Bonds), pursuant to
Minnesota Statutes,. Chapters 426 and 475.
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 the Bonds.
SECTION 2. TERMS OF PROPOSAL. Springsted Incorporated, financial advisor to
the City, has presented to this City 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 advisor,
.pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby
authorized to solicit-bids for the Bonds on behalf of the Ciry on a negotiated basis.
SECTION 3. SALE MEETING. This City 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 maybe in the best interests of the City.
APPROVED AND ADOPTED this Sth day of March, 2007.
CITY ~AKEVILLE, MINNESOTA
By:
olly Dah , a or
A TEST.
Charlene Friedges, City erk
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