HomeMy WebLinkAbout02-154 RESOLUTION 02-154
A RESOLUTION AUTHORIZING NEGOTIATED SALE
$1,050,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 2002
Motion By: ZIESKA Second By: PETERSEN
WHEREAS, the City of Prior Lake has conducted the appropriate public hearings to consider comments
regarding those public improvement projects deemed necessary for construction in 2002;
and
WHEREAS, the City Council has determined that such construction projects scheduled for 2002 are
consistent with the City's Capital Improvement Plan (CIP); and
WHEREAS, the City of Prior Lake has complied with all requirements of Chapter 429 of Minnesota State
Statues with respect to special assessment improvement projects; and
WHEREAS, the City of Prior Lake has awarded the construction bids for Project 02-11 Pixie Point for
street reconstruction; and
WHEREAS, it is necessary to issue general obligation bonds for the purpose of financing these
construction improvements.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA that:
1. The recitals set forth above are incorporated herein.
2. It is in the best interest of the City of Prior Lake to enter into a negotiated sale with Juran & Moody in
an effort to obtain the lowest interest rate possible for the issuance of $1,050,000 of general
obligation improvement bonds.
3. The City Manager is hereby authorized to convene a special meeting of the City Council for
consideration of the bond sale pursuant to the procedural requirements of State law..
PASSED AND ADOPTED THIS 16th DAY OF SEPTEMBER, 2002.
YES NO
Haugen X Haugen
Gundlach X Gundlach
LeMair X LeMair
Petersen X Petersen
Zieska X Zieska
City Manager, City of Prior Lake
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER