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RESOLUTION NO. 12-019 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON Resolution Providing for the Sale of $2,705,000 General Obligation Bonds, Series 2012A WHEREAS, the City Council of the City of New Brighton, Minnesota, has heretofore determined that it is necessary and expedient to issue the City's $2,705,000 General Obligation Bonds, Series 2012A (the "Bonds") for the following purposes: 1) To provide funds to current refund the outstanding G.O. Tax Increment Bonds, Series 2004A, maturities 2013 to 2017 2) To provide funds to current refund the outstanding G.O. Improvement Bonds, Series 2004C, maturities 2013 to 2015 3) To provide funds for the Street Reconstruction Project 11-01; and WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent financial advisor for the Bonds and is therefore authorized to solicit proposals in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota, as follows: 1. Authorization; Findings. The City Council hereby authorizes Ehlers to solicit proposals for the sale of the Bonds. 2. Meeting, Proposal Opening. The City Council shall meet at 6:30 p.m. on March 27, 2012, for the purpose of considering sealed 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.