HomeMy WebLinkAboutResolution No. 533-12 • i
• CITY OF ROCHESTER
COUNTY OF OLMSTED
STATE OF MINNESOTA
RESOLUTION NO. � o�-
RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED
SALE OF$4,140,000
ELECTRIC UTILITY REVENUE
REFUNDING BONDS,SERIES 2013A
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 Electric Utility Revenue Refunding .
Bonds, Series 2013A(the "Bonds")to refund December 1,2013 through December 1,2017 maturities of
the City's Electric Utility Revenue Bonds, Series 2002A dated August 1, 2002; and
D. 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:This 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 Clerk, or 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 Clerk,
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.
a
415843V1 MMDRC110-32
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF ROCHESTER,
MINNESOTA, THIS 17TH DAY OF DECEMBER, 2012.
ACTING PRES ENT OF SAID COMMON
COUNCIL
ATTEST:
CITY CLE
31 PLD'd Y
Approved this 17th day of December,2012.
(Seal of the City of
Rochester,Minnesota) MAYOR OF SAID CITY
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415843V1 MMDRC110-32