HomeMy WebLinkAbout04-69
EXTRACTOFMThmTESOFAMEETINGOFTHE
CITY COUNCIL OF THE CITY
OF PRIOR LAKE, MINNESOTA
HELD: APRIL 19,2004
Pursuant to due call and notice thereof, a regular meeting of the City Council (the "Council") of
the City of Prior Lake (the "City"), Scott County, Minnesota, was duly called and held at the Fire Station
in said City on April 19, 2004, at 7 O'CLCOK P.M.
The following members were present:
Haugen, Blomberg, Petersen., Zieska an.d LeMair
and the following were absent: NONE
Member LeMair introduced the following resolution and moved its adoption:
RESOLUTION NO. 04-69
RESOLUTION AUTHORIZING THE NEGOTIATED SALE OF
$2,850,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 2004
WHEREAS, the City has an upcoming issuance of approximately $2,850,000 General Obligation
Improvement Bonds of 2004, dated June 1,2004, (the Bonds) and
WHEREAS, Northland Securities, Inc. (NSI) has indicated a willingness to purchase the Bonds
upon receipt from the City, County, and School District of various required information, and
WHEREAS, the City desires to effectuate the transaction with NSI whenever market conditions
are appropriate and NSI has received the required information.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Prior Lake,
Minnesota as follows:
1. That Mayor Jack Haugen and Manager Frank Boyles are hereby jointly authorized to
approve the sale of certain Bonds to NSI in the amount illustrated to this Council on this
date at such time as NSI advises that it is appropriate to market said Bonds.
2. The City Council will meet to adopt the necessary approval resolution drafted by bond
counsel at a regular meeting date of Monday, May 3, 2004.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Prior Lake,
Minnesota as follows:
The motion for the adoption of the foregoing resolution was duly seconded by Member
Zieska, and upon voted being taken thereon, the following voted in favor thereof:
Haugen, Blomberg, Petersen, Zieska and LeMair
and the following voted against the same: None.
Whereupon said resolution was decl~dd\dy ~~ 19, 2004.
Mayor
~Jf-
CERTIFICATION
STATE OF MINNESOTA
COUNTY OF Scott
)SS
I, the undersigned, being the duly qualified and acting Manager of the City of Prior Lake, Scott
County, Minnesota, DO HEREBY CERTIFY, that I have carefully compared the preceding extract of
minutes of a meeting of the City Council of said City held on the date therein indicated with the original
minutes thereof on file in my office and that the same is a full, true and correct transcript thereof insofar as
said minutes relate to the topic described in the title of the resolution set forth in the extract.
WITNESS my hand officially and the official seal of the City on April 19, 2004.
V-&::;
(SEAL)