HomeMy WebLinkAboutResolution No. 388-18 - RequestForProposal.GeneralObligation.Equipment,Series2018A.FireTrucks
RESOLUTION NO. ____
CITY OF ROCHESTER
COUNTY OF OLMSTED
STATE OF MINNESOTA
RESOLUTION AUTHORIZING A REQUEST FOR PROPOSALS FOR PURCHASE OF
GENERAL OBLIGATION
EQUIPMENT CERTIFICATES OF INDEBTEDNESS, SERIES 2018A
A. WHEREAS, the Common Council of the City of Rochester, Minnesota (the “City”) has
heretofore determined that it is necessary and expedient to issue its General Obligation Equipment
Certificates of Indebtedness, Series 2018A (the “Certificates”) to finance the acquisition of certain capital
equipment in the City; and
B. WHEREAS, the City has retained Springsted Incorporated, in Saint Paul, Minnesota
(“Springsted”), as its independent municipal advisor and is therefore authorized to sell the Certificates by
a 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
proposals for the sale of the Certificates, provided that the principal amount of Certificates shall not
exceed $2,230,000 plus the amount of any premium paid with respect thereto, the true interest cost of the
Certificates shall not exceed 3.75% per annum and the final maturity thereof shall not be later than
February 1, 2028.
2. Meeting; Proposal Opening. This Common Council will meet on December 17, 2018 for
the purpose of considering accepting a proposal and awarding the sale of the Certificates.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF ROCHESTER,
MINNESOTA, THIS ________ DAY OF _________________ 2018.
_________________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST:
_________________________
CITY CLERK
Approved this ______day of______________, 2018.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
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539970v1 JSB RC110-104