2016-02Resolution No. 2016-02
Council Member Ryan introduced the following resolution and moved its adoption:
Resolution Providing for the Sale of
$7,150,000 General Obligation Bonds, Series 2016A
A. WHEREAS, the City Council of the City of Chanhassen, Minnesota has heretofore determined that it
is necessary and expedient to issue the City's $7,150,000 General Obligation Bonds, Series 2016A
(the "Bonds"), to finance the City's 2016 Water CIP projects and to effect an advanced crossover
refunding of the callable maturities of the City's $7,550,000 General Obligation Capital Improvement
Plan Bonds, Series 2008A; and
B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as
its independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section
475.60, Subdivision 2(9);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chanhassen, Minnesota,
as follows:
1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City for the sale of
the Bonds.
2. Meeting; Proposal Opening. The City Council shall meet at 7:00 on February 8, 2016, 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.
The motion for the adoption of the foregoing resolution was duly seconded by City Council Member
McDonald and, after full discussion thereof and upon a vote being taken thereon, the
following City Council Members voted in favor thereof:
Laufenburger
Campion
Tjornhom
and the following voted against the same:
None
Whereupon said resolution was declared duly passed and adopted.
Dated this 111 day of January, 2016.
ATTEST:
Todd Gerhardt, City Manager
Denny Lau nburger, Mayor