City Council Resolution 2000-01CITY OF MONTICELLO
Resolution No. 2000-1
Resolution Providing for the Sale of
$7,555,000 Public Project Revenue Bonds, Series 2000A
WHEREAS, the City Council has determined that it is necessary and desirable to issue the
$7,555,000 Public Project Revenue Bonds, Series 1998 of the Monticello Housing and Redevelopment
Authority (the "HRA") and to amend the lease purchase agreement with the HRA to provide funding for
the construction and equipping of the Community Center project (collectively all issues referred to as
"the Bonds"); and
WHEREAS, the HRA has called for the sale of the Bonds; 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 City of Monticello, Minnesota,
as follows:
1. Authorization; Findings. The City Council accepts the plan of finance for the Bonds as
described in the Bond Sale Report dated January 5, 2000 and 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 specified in the
Terms of Proposal for the purpose of reviewing sealed proposals for, approving amendments to
the lease purchase agreement and taking other actions related to 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.
Dated: January 10, 2000
ee
Mayor
AnS
City Clerk