HomeMy WebLinkAboutResolution No. 071-09 D`�1-49
• RESOLUTION PROVIDING FOR THE
COMPETITIVE NEGOTIATED SALE OF $8,145,000 TAXABLE GENERAL
OBLIGATION TAX INCREMENT REVENUE BONDS, SERIES 2009A
A. WHEREAS, the Common Council of the City of Rochester, Minnesota,
has heretofore determined that it is necessary and expedient to issue its $8,145,000 Taxable
General Obligation Tax Increment Revenue Bonds, Series 2009A (the 'Bonds")to finance a
portion of the costs of constructing a bioscience building; and
B. WHEREAS,the City has retained Springsted Incorporated, in Saint Paul,
Minnesota("Springsted"), as its independent financial advisor and is therefore authorized to sell
these obligations by a competitive negotiated sale in accordance with Minnesota Statutes,
Section 475.60, Subdivision 2(9); and
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Rochester, Minnesota, as follows:
1. Authorization; Findings. The Common Council hereby authorizes
Springsted to solicit bids for the competitive negotiated sale of the Bonds.
2. Meeting Bid Opening. The Common 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 Administrator or his
designee, shall open bids at the time and place specified in such Terms of Proposal.
3. 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.
4. Official Statement. In connection with said competitive negotiated sale,
the Administrator, Finance Director 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.
•
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PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS 18TH DAY OF FEBRUARY, 2009.
PRESIDENT OF SAID COMMON COUNCIL
ATTEST:
CIT CL RK
Approved this day of February, 2009
ice'/�izGel�..
MAYOR OF SAID CITY
O (Seal of the City of
Rochester, Minnesota)
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