HomeMy WebLinkAboutCity Council Resolution 2010-180CITY OF PLYMOUTH
RESOLUTION NO. 2010-180
A RESOLUTION APPROVING THE SOLICITATION OF
$3,075,000 GENERAL OBLIGATION OPEN SPACE BONDS, SERIES 2010A
WHEREAS, voters approved a referendum not to exceed $9,000,000 in
November of 2006 to finance acquisition of property for parks and open space;
and
WHEREAS, the city was authorized to issue $2,810,000 General
Obligation Open Space Bonds, Series 2007A in October of 2007; and
WHEREAS, the city has determined it necessary to issue $3,075,000
General Obligation Open Space Bonds, Series 2010A for the reimbursement of
$2,192,853 to the park dedication fiend for the acquisition of various properties
during 2009 and to allow $882,147 for pending property acquisitions to expand
the Northwest Greenway;
WHEREAS, the city has retained Ehlers & Associates, Inc., as its
independent financial advisor for the bonds is therefore authorized to solicit
proposals in accordance with Minnesota Statutes, Section 475.60, subdivision 2
(9); and
WHEREAS, the City Council shall meet at 7:00 p.m. on July 27, 2010, for
the purpose of awarding the sale of the bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA that
1. The financial advisor for the city, Ehlers and Associates Inc., is
hereby authorized to solicit proposals for the bonds on behalf of the
city in the amount of $3,075,000.
2. This Council shall meet on July 27, 2010, to award the sale of the
bonds and take such action thereon as may be in the best interest of the
city.
Approved this 13th day of July 2010.