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<br />:'liI-.~ <br /> <br />, ~ <br /> <br />t_ <br /> <br />RESOLUTION NO. 83-38 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION AUTHORIZING EVENSEN-DODGE TO CONDUCT AN ADVANCE <br />REFUNDING PROGRAM <br /> <br />WHEREAS, the city of New Brighton has outstanding debt <br />obligations which may be refunded for the purpose of reducing <br />debt service costs; and <br /> <br />WHEREAS, present market conditions and recent regulatory <br />clarifications enhance the feasibility of refunding transactions <br />at this time; and <br /> <br />WHEREAS, Evensen-Dodge, Inc. provides substantial experience <br />in debt refunding services and has the in-house computer <br />capability to structure a program that will provide the maximum <br />benefit to the City of New Brighton; and <br /> <br />WHEREAS, Evensen-Dodge, Inc. has prepared preliminary <br />advance refunding analyses at no cost or obligation to the City <br />of New Brighton to demonstrate the feasibility and advantage of <br />such transaction, and <br /> <br />WHEREAS, Evensen-Dodge, Inc. shall continue to provide its <br />services on this transaction at no cost or obligation to the <br />City of New Brighton and further agrees to assume responsibility <br />for other costs of issuance until such time as the advance <br />refunding issue is closed, at which time the cost of services may: <br />be paid out of the refunding program. <br /> <br />NOW THEREFORE BE IT RESOLVED, that: <br /> <br />1. Evensen-Dodge is hereby authorized to conduct an <br />advance refunding program. <br /> <br />2. An agreement shall be executed between the City <br />and Evensen-Dodge which shall specify the <br />conditions contained in this Resolution. <br /> <br />Adopted this <br /> <br />l2th day of <br /> <br />April <br /> <br />, 1983. <br /> <br />~H~k <br /> <br />ATTEST: <br /> <br />~ - --, J.,..... - po <br />....~ ... /"';" ~~ <br />Ja s W. Fornell, City Manager <br /> <br /> <br />Egan, Finance Director <br /> <br />(SEA:bt- --- ~'- , <br />- -' <br /> <br />~ ,~,.... <br />