HomeMy WebLinkAboutCity Council Resolution 1995-343•
RESOLUTION NO. 95-343
r EXTRACT OF M]NUTES OF A MEETING OF THE
Crff COUNCIL OF THE
CITY OF PLYMOUTH, MINNESOTA
HELD: June 20, 199S
Pursuant to due call and notice therefore, a regular meeting of the City Council of the
City of Plymouth, Hennepin County, Minnesota, was duly held at the City Hall in said City
on the 20th day of June, 1995, at 7:00 p.m. for the purpose in part of authorizing the
competitive negotiated sale of the $2,235,000 General Obligation Open Space Bonds, Series
1995A of said City.
The following members were present:
Wold, Lymangood, Helliwell, Granath, Edson, Tierney
and the following were absent:
Anderson.
Member Helliwell introduced the following resolution and moved its
adoption:
RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED
SALE OF $2,235,000
GENERAL OBLIGATION OPEN SPACE BONDS,
SERIES 1995A
A. WHEREAS, the City Council of the City of Plymouth, Minnesota, has
heretofore determined that it is necessary and expedient to issue its $2,235,000
General Obligation Open Space Bonds, Series 1995A (the "Bonds") to finance various
improvements in the City; and
B. WHEREAS, the City had retained Springsted Incorporated, in Saint
Paul, Minnesota ("Springsted"), as its independent financial advisor and is therefore
authorized to sell these obligations by a competitive negotiated sale in accordance with
Minnesota Statutes, Section 475.60, Subdivision 2(9); and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Plymouth, Minnesota, as follows:
1. Authorization: Findings. The City Council hereby authorizes
Springsted to solicit bids for the competitive negotiated sale of the Bonds.
2. Ugft: Bid Hing. This City Cotmcil shall mut at the time and
place specified in the Terms of Proposal attached hereto as Exhibit A for the purpose
of considering sealed bids for, and awarding the sale of, the Bonds. The City
Manager, or his designee, shall open bids at the time and place specified in such
Teras of Proposal.
3. Terms of Proposal. The teras and conditions of the Bonds and the
negotiation thereof are fully set forth in the "Terms of Proposal" attached hereto as
Exhibit A and hereby approved and made a part hereof.
4. Official Statement. In connection with said competitive negotiated sale,
the City Manager, Finance Director and other officers or employees of the City are
hereby authorized to cooperate with Springsted and participate in the preparation of an
official statement for the Bonds, and to execute and deliver it on behalf of the City
upon its completion.
The motion for the adoption of the foregoing resolution was duly seconded by
member Granath and, after full discussion thereof and upon a vote
being taken thereon, the following voted in favor thereof:
Wold, Lymangood, Helliwell, Granath, Edson, Tierney
and the following voted against the same: None.
Whereupon said resolution was declared duly passed and adopted.
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STATE OF MINNESOTA
COUNTY OF IiENNEPIN
CITY OF PLYMOUTH
I, the undersigned, being the duly qualified and acting Clerk of the City of Plymouth,
Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract
of minutes with the original thereof on file in my office, and that the same is a bill, true and
complete transcript of the minutes of a meeting of the City Council of said City, duly called
and held on the date therein indicated, insofar as such minutes relate to the City's $2,235,000
General Obligation Open Space Bonds, Series 1995A.
WITNESS my hand this 23rd day of June , 1995.
Clerk
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