HomeMy WebLinkAboutEDA RES 2007-15
Columbia Heights Economic Development Authority
Resolution No. 2007-15
Resolution Providing for the Sale of $5,040,000 Public Facility Lease
Revenue Bonds (Municipal Liquor Stores Project), Series 2007A
WHEREAS, the City Council of the City of Columbia Heights, Minnesota (the
"City"), has heretofore determined that it is necessary and expedient for the
Columbia Heights Economic Development Authority (the "EDA") to issue its
$5,040,000 Public Facility Lease Revenue Bonds (Municipal Liquor Stores
Project), Series 2007 A (the "Bonds"), to finance the construction of a two new
municipal liquor stores;
and
WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville,
Minnesota ("Ehlers"), as its independent financial advisor for the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority of Columbia Heights, Minnesota, as follows:
1. Authorization; Findings. The EDA hereby authorizes Ehlers to solicit proposals
for the sale of the Bonds.
. .~O
2. Meeting; Proposal Opening. The EDA Board shall meet at Lp.m. and the
City Council shall meet at.-!1..- p.m. on August 27,2007, for the purpose of
considering proposals for and awarding the sale of the Bonds.
3. Official Statement. In connection with said sale, the officers or employees of
the City are hereby authorized to cooperate with Ehlers 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.
This resolution passed this 24th day of July, 2007.
Attest by:
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Executive Director- Walter R. Fehst