City Council Resolution 2011-80CITY OF MONTICELLO
WRIGHT COUNTY MINNESOTA
RESOLUTION NO. 2011-80
PROVIDING FOR THE SALE OF $11,005,000 GENERAL OBLIGATION
REFUNDING BONDS, SERIES 2011A
WHEREAS, the City Council of the City of Monticello has heretofore determined that it is
necessary and expedient to issue the City's $11,005,000 General Obligation Refunding Bonds,
Series 2011 (the "Bonds"), to crossover refund the City's outstanding General Obligation Bonds,
Series 2005A; and
WHEREAS, the City has retained Ehlers and 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:
1. 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 7:00 p.m. on September 26,
2011, for the purpose of considering proposals for and awarding the sale of the Bonds.
3. 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.
ADOPTED BY the Monticello City Council this 22nd day of August, 2011.
CITY OF MONTICELLO
Clint Herbst, Mayor
ATTEST:
Jef eill, City Administrator
VOTING IN FAVOR: e'r�s�
VOTING IN OPPOSITION: /1%ne