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City Council Resolution 2003-53CITY OF MONTICELLO RESOLUTION NO. 2003-53 Council Member Stumpf introduce the following resolution and moved its adoption: Resolution Providing for the Sale of $2,420,000 General Obligation Improvement Bonds, Series 2003 WHEREAS, the City Council of the City of Monticello, Minnesota (the "City"), has heretofore determined that it is necessary and expedient to issue the City's $2,420,000 General Obligation Improvement Bonds, Series 2003 (the "Bonds"), to finance construction of various improvements in the City; and 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 Monticello, Minnesota, as follows: 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 5:00 p.m. on August 20, 2003, for the purpose of considering sealed 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. The motion for the adoption of the foregoing resolution was duly seconded by Council Member Smith and, after full discussion thereof and upon a vote being taken thereon, the following Council Members voted it favor thereof: Carlscn, Posusta, Smith, Stumpf and Thiel.en and the following voted against the same: None Whereupon said resolution was declared duly passed and adopted. Dated this 28"' day of July, 2003. AT � .t��'(.�✓�-tel Rick Wolfsteller, City Aklministrator Bruce Thielen, Mayor