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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF LITTLE CANADA, MINNESOTA <br />HELD: September 11, 2013 <br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council of <br />the City of Little Canada, Minnesota, was duly called and held at the City Hall in the City of Little <br />Canada, Minnesota on Wednesday the 11th day of September, 2013 at 7:00 p.m. for the purpose, in <br />part, of giving preliminary approval for the issuance of the City's general obligation capital <br />improvement plan bonds and adopting the City's capital improvement plan. <br />The following members were present: <br />and the following were absent: <br />Member introduced the following resolution and moved its adoption: <br />RESOLUTION GIVING PRELIMINARY APPROVAL <br />FOR THE ISSUANCE OF THE CITY'S GENERAL OBLIGATION <br />CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT <br />NOT TO EXCEED $2,570,000 AND <br />ADOPTING THE CITY OF LITTLE CANADA MINNESOTA CAPITAL <br />IMPROVEMENT PLAN OF 2014 THROUGH 2018 THEREFOR <br />A. WHEREAS, the City Council of the City of Little Canada, Minnesota (the "City ") <br />proposes to issue its general obligation capital improvement plan bonds (the "Bonds ") and adopt the <br />City of Little Canada, Minnesota Capital Improvement Plan of 2014 through 2018 therefor (the <br />"Plan "); and <br />B. WHEREAS, the City has caused notice of the public hearing on the intention to issue <br />the Bonds and on the proposed adoption of the Plan to be published pursuant to and in accordance <br />with Minnesota Statutes, Section 475.521; and <br />C. WHEREAS, a public hearing on the intention to issue the Bonds and on the proposed <br />Plan has been held on this date, following published notice of the hearing as required by law; and <br />D. WHEREAS, in approving the Plan, the City Council considered for each project and <br />for the overall Plan: <br />1. The condition of the City's existing infrastructure, including the projected <br />need for repair and replacement; <br />2. The likely demand for the improvement; <br />3. The estimated cost of the improvement; <br />4. The available public resources; <br />Ehlers & Associates, Inc. Page 18 <br />28 <br />