99-88 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE:
October 25~ 1999
RESOLUTION NO: 99-88
MOTION BY:
Senn SECONDED BY: Jansen
A RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED
SALE OF $4,255,000
GENERAL OBLIGATION BONDS,
SERIES 1999A
WHEREAS, the City Council of the City of Chanhassen, Minnesota (the "City"), has
heretofore determined that it is necessary and expedient to issue its $4,255,000 General Obligation
Bonds, Series 1999A (the "Bonds") to finance various street and water improvement projects within
the City; and
WHEREAS, the City has retained Springsted Incorporated, in Saint Paul, Minnesota
CSpringsted"), as its independent financial advisor and is therefore authorized to sell these obligations
by a competitive negotiated sale in accordance with Minnesota Statues, Section 475.60, Subdivision 2
(9); and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chanhassen,
Minnesota, as follows:
Authorization: The City Council hereby authorizes Springsted to solicit bids for the
competitive negotiated sale of the Bonds.
Meeting; Bid Opening: This City Council shall meet at the time and place specified in the
Terms of Proposal attached hereto as Exhibit A for the purpose of considering sealed bids
for, and awarding the sale of, the Bonds. The Manager or designee, shall open bids at the
time and place specified in such Terms of Proposal.
Terms of Proposal: The terms and conditions of the Bonds and the negotiation thereof are
fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and hereby approved
and made a part hereof.
Official Statement: In connection with said competitive negotiated sale, the Manager and
other officers or employees of the City are hereby authorized to cooperate with Springsted
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.
Passed and adopted by the Chanhassen City Council this 25th day of October, 1999.
ATTEST:
Scott A. Botcher, City Manager
YES
Mancino
Engel
Labatt
Jansen
Senn
Nancy K. Mancino, Mayor
NO
None
ABSENT
None