HomeMy WebLinkAbout01-106 RESOLUTION 01-106
RESOLUTION AUTHORIZING NEGOTIATED SALE
OF $1,035,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 2001
MOTION BY: MADER SECOND BY: ERICSON
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 2001; and
WHEREAS, The City Council has determined that such construction projects scheduled for 2001 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
Statutes with respect to special assessment improvement projects; and
WHEREAS, The City of Prior Lake has awarded the construction bids for Project 01-11 Frog Town 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, that it has determined 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 $1,035,000 of general obligation improvement bonds, and the City
Manager is hereby authorized to convene a special meeting to approve the bond sale pursuant to the procedural
requirements of State law.
Passed and adopted this 17th day of September, 2001.
YES NO
Mader X Uader
Ericson X Ericson
Gundlach X Gundlach
Petersen X Petersen
Joe Zieska X Joe Zieska
{Seal} Frank
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447 4230 / Fax (952) 447-4245