City Council Resolution 2000-46CITY OF MONTICELLO
RESOLUTION NO. 2000-46
Council Member Herbst introduced the following resolution and moved its adoption:
RESOLUTION PROVIDING FOR THE SALE OF
$19645,000 G.O. IMPROVEMENT BONDS
A. WHEREAS, the City Council of the City of Monticello, Minnesota, has heretofore determined
that it is necessary and expedient to issue the City's $1,645,000 G.O. Improvement Bonds, Series
2000B (the "Bonds"), to finance the construction of various public improvements in the City; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota
("Ehlers"), as its independent financial advisor for the Bonds and is therefore authorized to solicit
proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Monticello, Minnesota, as follows:
I . Authorization: Findings. The City Council hereby authorizes Ehlers to solicit proposals for the
sale of the Bonds.
2. Meeting: Proposal Opening. The City Council shall meet at the time and place to be specified in
the Terms of Proposal for the purpose of considering sealed proposals for, and awarding the sale
of the Bonds. The City Administrator, or designee, shall open proposals at the time and place to be
specified in such Terms of Proposal.
3. Terms of Proposal. The terms and conditions of the Bonds and the sale thereof are fully set forth
in the Bond Sale Report and are hereby approved and made a part hereof.
4. Official Statement. In connection with said sale, the officers or employees of the City are hereby
authorized to cooperate with Ehlers 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 Council Member Carlson
and, after full discussion thereof and upon a vote being taken thereon, the following Council Members voted in
favor thereof: Belsaas, Carlson, Herbst, Stumpf and Thielen.
and the following voted against the same: None
Whereupon said resolution was declared duly passed and adopted.
Dated: June 26, 2000
ATTEST:
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Mayov City Administrator