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HomeMy WebLinkAbout06/10/1991 Council Minutes (2)196 COUNCIL MEETING CITY OF LINO LAKES COUNCIL MINUTES DATE : June 10, 1991 TIME STARTED : 6:35 P.M. TIME ENDED : 8:07 P.M. MEMBERS PRESENT: Bisel, Bohjanen, Kuether, Neal, Reinert MEMBERS ABSENT : None Staff members present: Attorney, Bill Hawkins, Engineer's Dan Boxrud and Darrell Schneider; Administrator, Randy Schumacher and Clerk - Treasurer Marilyn Anderson. CONSENT AGENDA Council Member Bohjanen moved to approve the Consent Agenda as presented. Council Member Kuether seconded the motion. Motion carried unanimously. DISBURSEMENTS: OPEN MIKE ITEM DISPOSITION May 31, 1991 Approved June 10, 1991 Approved Centennial Fire Dept. Approved REGULAR AGENDA Darla Lowell, 6559 - 24th Avenue presented a letter to the City Council regarding her request for a variance for the improvement of 66th Street. She noted that she had attended the previous Council meeting and did not have a response to her presentation until 5:30 P.M. this afternoon. She gave a brief background of her requests. Mrs. Lowell explained that she has done everything that has been requested by the City Staff and said she is upset about how the entire matter has been handled. She noted that if anyone gives a service they should be held accountable for the service. Mrs. Lowell explained that she could continue with an attorney but felt that she should try to resolve the matter herself. Mrs. Lowell explained that she had paid for a feasibility report and PAGE 1 1 1 1 COUNCIL MEETING JUNE 10, 1991 since this report was never accepted by the City Council she requested that her money be returned to her. She also noted that she has not been dealt with cordially and would pursue this matter even though she had to hire a baby sitter and take time off from work. Mrs. Lowell said she was disappointed, upset and emotional. Mrs. Lowell explained that she talked to Mr. George Meadows, 6491 - 24th Avenue who told her that he did not have proper frontage and was given a variance to build on his property. She said she needed some answers and felt someone should be accountable for this situation. Mrs. Lowell said she would continue to come back before the Council until the matter is resolved. Mayor Bisel told Mrs. Lowell that the City is pursuing the matter and is trying to arrive at an agreeable solution. He noted that the assessment procedure outlined in the City Charter is difficult to work with. Mayor Bisel also referred to the Meadows situation and explained that he may have been given a variance some time ago prior to changes in the present ordinance. Council Member Neal expressed concern in this matter. Mrs. Lowell indicated that she had discussed this matter with both Council Member Neal and Council Member Kuether who had suggested that she submit her concerns in writing. Mrs. Lowell said she wanted someone at the City to admit that something has gone wrong. She noted that she has called and has been referred to Mr. Schumacher and there has been no contact. Council Member Neal asked Mrs. Lowell for the name of the person who advised her to face her new home to the north. (Facing the new street.) Mrs. Lowell explained it was both Mr. Miller and Mr. Boxrud. She also noted that her property had been approved to be subdivided but this is technically impossible since the new street was denied by the Council. Council Member Reinert said he would like to identify some of the people who made recommendations and innuendos. He also said he would like to know who mislead the Lowell's. CONSIDERATION AND APPROVAL OF MINUTES Work Session, May 28, 1991 - Council Member Bohjanen moved to approve these minutes as presented. Council Member Reinert seconded the motion. Motion carried with Council Member Kuether abstaining. Regular Session, May 28, 1991 - Council Member Reinert moved to approve these minutes as presented. Council Member Bohjanen PAGE 2 197 198 COUNCIL MEETING JUNE 10, 1991 seconded the motion. Motion carried with Council Member Kuether abstaining. CONSIDERATION OF RESOLUTION NO. 55 - 91 AUTHORIZING THE ISSUANCE AND SALE OF $4,260,000.00 G. O. IMPROVEMENT BONDS, SERIES 1991A Mr. David MacGillivray, Springsted, Inc. presented the resolution authorizing the sale of the improvement bonds. He noted that the funds would be used for improvements in White Tail Ridge, Brandywood Estates, Pheasant Hills Preserve, Reshanau Trunk Sewer and Wenzel Farms. In addition, the balance of the 1988 Temporary G. O. Bonds will be refinanced. Mr. MacGillivray noted that the use of temporary improvement bonds works very well for Lino Lakes. The 1988 bonds were $610,000.00 and approximately $125,000.00 will be refinanced. The sale of the temporary improvement bonds is set for July 8, 1991. Approval of Resolution No. 55 - 91 will initiate the bond sale process. Council Member Bohjanen moved to approve Resolution No. 55 - 91 setting the bond sale and to stipulate that the amount of the bonds not to exceed $5,000,000.00. Council Member Neal seconded the motion. VOTING ON THE MOTION: Bisel Neal Bohjanen Reinert Abstained: none Motion carried unanimously. PLANNER'S REPORT, JOHN MILLER Kuether El SECOND READING, Ordinance No. 09 - 91 Rezone of Barott Property - Council Member Bohjanen moved to adopt Ordinance No. 09 - 91 and dispense with the reading. Council Member Neal seconded the motion. VOTING ON THE MOTION: Bisel Neal Abstained: none Bohjanen Reinert Motion carried unanimously. Kuether PAGE 3 1 1 1 1 1 COUNCIL MEETING JUNE 10, 1991 ENGINEER'S REPORT Resolution No. 53 - 91 Awarding Bid for Pheasant Hills Preserve, Dan Boxrud - Mr. Boxrud explained that the low bid was considerable lower than the next bidder. He has checked with the bidder who indicated that he is satisfied with his bid. He has provided six (6) references. Mr. Boxrud recommended that Resolution No. 53 - 91 be adopted. Council Member Kuether moved to adopt Resolution No. 53 - 91. Council Member Neal seconded the motion. VOTING ON THE MOTION: Bisel Neal Abstained: none Bohjanen Reinert Motion carried unanimously. Kuether Approving Plans and Specifications and Ordering Bids for 1991 Seal Coat Program - Mr. Boxrud explained that the Public Works Department visually rated streets and determined which streets should receive a sealcoat in 1991 considering the available budget. The bidding documents have been prepared and Mr. Boxrud recommended approval that they be approved. Council Member Reinert moved to approve plans and specifications and ordering bids for the 1991 Seal Coat Program. Council Member Bohjanen seconded the motion. VOTING ON THE MOTION: Bisel Neal Abstained: none Bohjanen Reinert Motion carried unanimously. Kuether Eg Set Public Hearing for Preliminary Plat for Amelia Lake Estates for 7:15 P.M., July 8, 1991 - Council Member Kuether moved to set the public hearing. Council Member Bohjanen seconded the motion. Motion carried unanimously. Resolution No. 40 - 91 Receiving Report and Calling Hearing on Improvement, Amelia Lake Estates for 7:30 P.M., July 8, 1991 - Mr. Boxrud reviewed the feasibility report for this proposed subdivision. He noted the location of the subdivision and explained that the developer plans to develop in phases. The sewer and water utilities will be extended from White Bear PAGE 4 199 • 200 COUNCIL MEETING JUNE 10, 1991 Township and the Lino Lakes Comprehensive Sewer Plan will have to be amended to accommodate the subdivision. Mr. Boxrud explained that there is approximately 132 acres of land to develop in this area. The lift station for the entire area is planned to be located on the parcel to the north of the first phase. The total cost for the improvement is $424,000.00. Council Member Bohjanen moved to adopt Resolution No. 40 - 1. Council Member Kuether seconded the motion. Motion carried unanimously. Receiving Water Report - Mr. Schneider gave a brief background on this matter noting that the Council has discussed the Water Study during the earlier work session. He asked the Council to receive the 1991 Comprehensive Water Study and noted that he will be making further recommendations regarding elevated water storage at the next Council meeting. Council Member Bohjanen moved to receive the 1991 Comprehensive Water Study. Council Member Kuether seconded the motion. Motion carried unanimously. Mr. Schneider told the Council about the meeting that he and Mr. Volk, Mr. Boxrud and Mr. Schumacher had with Ed Blum and Susan Foley from the Metropolitan Council. It was noted at this meeting that the Laurene Avenue lift station upgrading is on schedule. Lino Lakes presented a recommendation to the Metropolitan Council staff to eliminate the Shenandoah lift station from the Metro system. There appears to be some difference in opinion at Met Council on this matter. Some staff members prefer to give the Shenandoah lift station to the City of Lino Lakes rather than eliminate it. Mr. Schneider said Lino Lakes position on this matter is that Lino Lakes would object to any effort to turn the Shenandoah lift station over to the City. Mr. Schneider explained that he and staff will be working with Metropolitan Council staff on this matter next Monday and he may be asking the City Council to assist. Mr. Schumacher noted that this negotiation with Metropolitan Council is very significant to this City. The outcome will impact Lino Lakes for several years to come. PUBLIC HEARING, PINERIDGE ADDITION IMPROVEMENT Mr. Boxrud explained the background on this matter and outlined the area using the overhead projector. He noted that originally 55 lots were planned and were to be served from the Shenandoah Addition. Since the original plans were completed, the Reshanau PAGE 5 1 1 1 1 1 1 COUNCIL MEETING JUNE 10, 1991 Lake Trunk Sewer has been approved and will serve PineRidge Addition. Mr. Boxrud noted that the developer will be directly responsible for the cost of street lights, street signs and gravel pathways. Mr. Boxrud outlined the drainage system that outlet to a ditch that eventually leads to Rice Lake. He noted that a significant amount of work has already been done on this project as well as the future addition of PineRidge. The total cost of the improvement is $622,000.00 and the proposed assessment is for $672,000.00. The developers agreement has been finalized and is available. Council Member Reinert expressed concern regarding drainage to Rice Lake and the possibility of adding to the pollution going to Rice Lake. Mr. Boxrud explained the natural cleansing of the water as it goes toward Rice Lake and noted that a DNR and CORP is responsible for issuing permits to this subdivision. Mayor Bisel opened the public hearing at 7:47 P.M. There was no one to speak on this matter. Council Member Bohjanen moved to close the public hearing at 7:49 P.M. Council Member Kuether seconded the motion. Motion carried unanimously. Mr. Boxrud noted that the developer of PineRidge Addition will probably present a petition to waive 50 of the 60 waiting days so that the Council can order the improvement at the next Council meeting. SECOND READING, ORDINANCE NO. 07 - 91 AMENDING THE CABARET LICENSE Council Member Bohjanen moved to adopt Ordinance No. 07 - 91 and dispense with the reading. Council Member Reinert seconded the motion. VOTING ON THE MOTION: Bisel Neal Abstained: none Bohjanen Reinert Motion carried unanimously. Kuether CONSIDERATION AND APPROVAL OF OBTAINING TITLE TO TAX FORFEIT LANDS Mrs. Anderson explained that there are two (2) parcels that are PAGE 6 201 202 COUNCIL MEETING JUNE 10, 1991 in forfeiture status. Both parcels are currently being used as holding ponds for the City drainage system. The Public Works Director has recommended that the City obtain title to both parcels. The first parcel is located at the intersection of 74th Street and Jon Avenue. The second parcel is located at the intersection of Nancy Drive and 77th Street. Council Member Bohjanen moved to obtain title to both parcels. Council Member Reinert seconded the motion. VOTING ON THE MOTION: Bisel Neal Abstained: none Bohjanen Reinert Motion carried unanimously. Kuether CONSIDERATION AND APPROVAL OF ANNUAL RENEWAL OF 3.2 BEER AND LIQUOR LICENSES Mrs. Anderson explained that all currently licensed 3.2 beer and liquor establishments have completed all requirements for renewal of their licenses with the exception of My Place On The Lake. This establishment has filed Chapter 11 bankruptcy proceeding with the State of Minnesota. They currently are over $800.00 past due on the sewer and water bills. Mrs. Anderson asked that the Council approve all licenses contingent upon My Place On The Lake providing satisfactory information regarding the bankruptcy proceeding. Council Member Kuether moved to approve all licenses contingent upon My Place On The Lake providing proper information regarding the bankruptcy proceedings. Council Member Reinert seconded the motion. Motion carried with Council Member Bohjanen and Mayor Bisel abstaining from voting on the VFW license renewal. OLD BUSINESS There was no Old Business NEW BUSINESS Resolution No. 54 - 91 Ordering a Feasibility Report for Reshanau Lake Estates, 4th & 5th Additions - Mr. Schneider explained that Mr. Miller has received a petition from the developer of Reshanau Lake Estates asking that the feasibility report for the 4th and 5th Additions be updated. It was noted that the DRB has not approved the preliminary plat, however the public hearing for the PAGE 7 1 1 1 1 1 1 COUNCIL MEETING JUNE 10, 1991 preliminary plat has been set for June 24, 1991. Council Member Reinert expressed concern that everything be in order and asked that this request be delayed until the June 24, 1991 Council meeting. Council Member Reinert expressed concern regarding run -off water into area lakes. Mr. Boxrud explained that standards could be adopted by the Council and this would provide something for the engineer's to review against. Mayor Bisel asked that this matter be referred to staff (Mr. Volk and Mr. Aslesen) to draft an ordinance that could be adopted by the Council. Council Member Reinert moved to adjourn at 8:07 P.M. Council Member Bohjanen seconded the motion. Aye. These minutes were considered corrected and approved at a regular Council meeting held on June 24, 1991. #K r11yi Anderson, Harold L. Bisel, Clerk - Treasurer Mayor PAGE 8 203 204 Council Member Bohjanen moved its adoption: introduced the following ordinance and CITY OF LINO LAKES COUNTY OF ANOKA ORDINANCE NO. 07 — 91 AN ORDINANCE AMENDING THE LINO LAKES CITY CODE, SECTION 703, CABARET LICENSE The City Council of the City of Lino Lakes, Anoka County, Minnesota does ordain: I. Section 703 License Required is hereby amended to read as follows: 703.01 703.02 License Required. No person to whom an on -sale beer or on -sale intoxicating liquor license has been issued shall permit on the licensed premises any dancing in which the public participates, or any dancing, singing, stage show or other entertainment unless a cabaret license has also been issued for conducting such activities on the premises. This section shall not prohibit the use of radios, televisions, or juke boxes on premises licensed for the on -sale of beer or intoxicating liquor, provided a nuisance is not created or any other ordinance violated thereby. Issuance of License. A cabaret license for dancing within a structure shall be submitted to the City - Clerk- Treasurer for review and approval. A cabaret license application for all other entertainment allowed hereunder including dancing outdoors shall be submitted by the license applicant to the City Clerk - Treasurer for reviewal and processing and then be submitted for consideration and approval by the City Council at a regular scheduled City Council meeting. Upon approval, a cabaret license shall be issued by the City Clerk - Treasurer upon payment of the proper cabaret license fee. The City Council may impose conditions or restrictions concerning the activities licensed hereunder. 1 205 ORDINANCE NO. 07 - 91 PAGE -2- 703.03 Term and Fee. Subdivision 1. Annual. The fee for an annual cabaret license for dancing within a structure shall be $200.00. All annual cabaret licenses shall expire on June 30th of each year. Subdivision 2. Short -Term. A cabaret license may be issued for a shorter term for a fee of $20.00 per day. II. Save as above amended, Section 703 of the Lino Lakes City Code shall stand as initially passed and as previously amended. This ordinance shall be in full force and effect from and after its passage and publication according to the City Charter. Passed by the City Council this 10th day of June 1991. 1 (Ze(b-A21_.10_/ Harold L. Bisel, NlAyor Mar Anderson, Clerk- Treasurer The motion for the adoption of the foregoing ordinance was duly seconded by Reinert and upon vote being taken thereon, the following voted in favor thereof: Reinert, Neal, Kuether, Bisel, Bohjanen. The following voted against same: None Whereupon said ordinance was declared duly passed and adopted. 206 Council Member Bohj anen moved its adoption: introduced the following ordinance and CITY OF LINO LAKES COUNTY OF ANOKA STATE OF MINNESOTA ORDINANCE NO. 09 — 91 AN ORDINANCE AMENDING ORDINANCE NO. 02 OF THE CITY OF LINO LAKES BY REZONING CERTAIN REAL ESTATE TO PLANNED UNIT DEVELOPMENT (PUD), PINERIDGE ADDITION (BAROTT PROPERTY) I. The City Council of the City of Lino Lakes, Anoka County, Minnesota does ordain: Ordinance No. 02 of the City of Lino Lakes, Anoka County, Minnesota, passed by the City Council on May 24, 1983 is hereby amended by rezoning from Single Family Executive (R -1X) to Planned Unit Development (PUD), pursuant to the provisions of the zoning ordinance of the City of Lino Lakes, the following described real estate: The northeast one quarter of the northwest one quarter, Section 32, Township 31, Range 22, and The northeast one quarter of the southwest one quarter, of the northwest one quarter, Section 32, Township 31, Range 22. (See attached map) II. Save as above amended, said Ordinance No. 02 shall stand as initially passed and as previously amended. This Ordinance shall be in full force and effect from and after its passage and publication according to City Charter. Passed by the City Council of the City of Lino Lakes the 10th day of June, 1991. Harold L. Bisel, Mayor 1 1 1 1 1 ORDINANCE NO. 09 - 91 PAGE -2- Mar lyn nderson, Clerk- Treasurer The motion for the adoption of the foregoing ordinance was duly seconded by Council Member Neal and upon vote being taken thereon, the following voted in favor: Neal, Kuether, Bisel, Reinert, Bohjanen. The following voted against same: None Whereupon the ordinance was declared duly passed and adopted. 207 208 Council Member Bohjanen introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 40 - 91 RESOLUTION RECEIVING REPORT AND CALLING A HEARING ON THE AMELIA LAKE ESTATES IMPROVEMENT WHEREAS, pursuant to a resolution of the Council adopted on February 11, 1991 with reference to the Amelia Lake Estates Improvement and this report was received by the Council on June 10, 1991, NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LINO LAKES, MINNESOTA: 1. The Council will consider the improvement of the Amelia Lake Estates Improvement in accordance with the report and the assessment of benefited property for all or a portion of the cost of the improvement pursuant to Minnesota Statutes Chapter 429 and Chapter 8 of the Lino Lakes City Charter at an estimated total cost of the improvement of $424,340.00. 2. A public hearing shall be held on such proposed improvement on the 8th day of July, 1991 in the council chambers of the city hall at 7:30 P.M. and the Clerk shall give mailed and published notice of such hearing and improvements as required by law. Adopted by the Lino Lakes City Council this 10th day of June, 1991. Harold L. Bisel, 'Mayor Mari yn to Anderson, Clerk - Treasurer The motion for adoption of the foregoing resolution was duly seconded by Council Member Kuether and upon vote being taken thereon, the following voted in favor thereof: Neal, Kuether, Bisel, Bohjanen, Reinert. The following voted against same: none. Whereupon said resolution was declared passed and adopted. 1 1 Council Member Kuether introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 53 — 91 RESOLUTION ACCEPTING BIDS FOR THE PHEASANT HILL PRESERVE IMPROVEMENT WHEREAS: pursuant to an advertisement for bids for the Pheasant Hills Preserve improvement, bids were received, opened and tabulated according to law, and the following bids were received complying with the advertisement: NAME & ADDRESS AMOUNT OF BID Rice Lake Contracting Corp. 4756 Banning Avenue Suite 207 White Bear Lake, Mn. 55110 S. J. Louis P. O. Box 1373 St. Cloud, Mn. 56302 Barbarossa & Sons, Inc. 11000 - 93rd. Avenue North P. O. Box 367 Osseo, Mn. 55369 Arcon Construction Company 903 East Forest P. O. Box 57 Mora, Minnesota 55051 Northdale Construction Company, Inc. 14450 Northdale Boulevard Rogers, Mn. 55374 $413,255.00 460,987.00 498,554.60 575,346.62 595,077.25 AND WHEREAS, it appears that Rice Lake Contracting Corp., 4756 Banning Avenue, Suite #207, White Bear Lake, Mn. 55110 is the lowest responsible bidder, NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LINO LAKES, MINNESOTA: 1. The Mayor and the Clerk are hereby authorized and directed to enter into the attached contract with Rice Lake Contracting Corp., 4756 Banning Avenue, Suite #207, 209 - 210 RESOLUTION NO. 53 - 91 PAGE -2- White Bear Lake, Minnesota for the construction of the Pheasant Hills Preserve improvement according to the plans and specifications therefor approved by the City Council and on file in the office of the City Clerk in the amount of $413,255.00. 2. The City Clerk is hereby authorized and directed to return forthwith to all bidders the deposits made with their bids, except that the deposits of the successful bidder and the next lowest bidder shall be retained until a contract has been signed. Adopted by the Lino Lakes City Council this 10th day of June, c/L<1991. Harold L. Bisel, Mayor /2 Mari lyn CG. An son, Clerk- Treasurer The motion for the adoption of the foregoing resolution was duly seconded by Council Member Neal and upon vote being taken thereon, the following voted in favor thereof: Neal, Kuether, Bisel, Reinert, Bohjanen. The following voted against same: None. Whereupon said resolution was declared duly passed. 1 1 1 211 Extract of Minutes of Meeting of the City Council of the City of Lino Lakes, Anoka County, Minnesota Pursuant to due call and notice thereof a regular meeting of the City Council of the City of Lino Lakes, Anoka County, Minnesota; was held at the City Hall in the City on Monday, June 10, 1991, commencing at 6:30 P.M. The following members of the Council were present: Neal, Kuether, Bisel, Reinert, Bohjanen. and the following were absent: none. * * * The following resolution was presented by Member Bohjanen who moved its adoption: RESOLUTION NO. 55 - 91 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $4,260,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS, SERIES 1991A BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka County, Minnesota (City) as follows: 1. It is hereby determined that: (a) the City has previously issued and sold its $610,000 General Obligation Temporary Improvement Bonds, Series 1988B, dated October 1, 1988, which mature October 1, 1991 (Series 1988 B Bonds) pursuant to the provisions of the home rule charter of the City; (b) there will be insufficient funds available to pay principal and interest on the Series 1988B Bonds at maturity as follows: 212 Principal due 10 -1 -91 Interest due 10 -1 -91 Paying Agent Fee Additional Project Costs (paving) Subtotal Less: Available Debt Service Fund Cash Available Capital Proj. Fund Cash Est. First -half Assessment Collections Prepayments Received in 1991 $610,000 18,910 500 19,620 $649,030 (427,890) (84,730) (8,500) (43,865) Total Temporary Refinancing $ 84,045 (c) the following assessable public improvements (the Improvements) have been made, duly ordered or contracts let for the construction thereof, by the City pursuant to the provisions of the City's home rule charter: White Tail Ridge Brandywood Estates Pheasant Hills Pine Ridge Addition Reshenau Lake Sanitary Sewer Trunk Wenzel Farms Construction $ 50,600 790,015 620,747 630,326 1,080,676 973,800 $4,146,164 $4,146,164 (d) it is necessary and expedient to the sound financial management of the affairs of the City to issue $4,260,000 General Obligation Temporary Improvement Bonds, Series 1991A (Bonds) pursuant to the charter to provide temporary financing for the Improvements and to provide additional temporary financing for the improvements financed by the Series 1988B Bonds as follows: Total Refinancing and New Projects Plus: Underwriter's Discount ($7.50 /bond) Less: Est. Investment Earnings Total 1991 Temporary Issue $4,230,209 31,950 (2,159) $4,260,000 1 2. To provide temporary financing for the Improvements and to provide additional temporary financing for the Series 1988B Bonds, the City will therefore issue and sell Bonds in the amount of $4,228,050. To provide in part the additional interest required to market the Bonds at this time, additional Bonds will be issued in the amount of $31,950. The excess of the purchase price of the Bonds over the sum of $4,228,050 will be credited to the debt service fund for the Bonds for the purpose of paying interest first coming due on the additional Bonds. The Bonds will be issued, sold and delivered in accordance with the terms of the following Official Terms of Offering: 213 214 OFFICIAL TERMS OF OFFERING $4,260,000 CITY OF LINO LAKES, MINNESOTA GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS, SERIES 1991A Sealed bids for the Bonds will be received by the City Administrator or his designee on Monday, July 8, 1991, until 10:00 A.M., Central Time, at the offices of SPRINGSTED Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award of the Bonds will be by the City Council at 6:30 P.M., Central Time, of the same day. DETAILS OF THE BONDS The Bonds will be dated August 1, 1991, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing August 1, 1992. Interest will be computed on the basis of a 360 -day year of twelve 30 -day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in the denomination of $5,000 each, or in integral multiples thereof, as requested by the purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the registrar and interest on each Bond will be payable by check or draft of the registrar mailed to the registered holder thereof at the holder's address as it appears on the books of the registrar as of the close of business on the 15th day of the immediately preceding month. The Bonds will mature August 1, 1994. OPTIONAL REDEMPTION The City may elect on August 1, 1993, and on any day thereafter to prepay Bonds due on August 1, 1994. Redemption may be in whole or in part and if in part by lot as selected by the registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge special assessments against benefited property. The proceeds will be used to refinance the City's $610,000 General Bond Temporary Improvement Bonds, Series 19888, dated October 1, 1988 and to finance various improvements within the City. TYPE OF BID Bids shall be for not less than $4,228,050 and accrued interest on the total principal amount of the Bonds. Bids shall be accompanied by a Good Faith Deposit ( "Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount of $42,600, payable to the order of the City. If a check is used, it must accompany each bid. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Minnesota, and preapproved by the City. Such bond must be submitted to Springsted Incorporated prior to the opening of the bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded to a bidder using a Financial Surety Bond, then that purchaser is required to submit its Deposit to Springsted Incorporated in the form of a certified or cashier's check or wire transfer as instructed by Springsted Incorporated not later than 3:30 P.M., Central Time, on the next 1 215 business day following the award. If such Deposit is not received by that time, the Financial Surety Bond may be drawn by the City to satisfy the Deposit requirement. The City will deposit the check of the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser. In the event the purchaser fails to comply with the accepted bid, said amount will be retained by the City. No bid can be withdrawn after the time set for receiving bids unless the meeting of the City scheduled for award of the Bonds is adjourned, recessed, or continued to another date without award of the Bonds having been made. Bidders shall specify a single rate of interest. Rates shall be in integral multiples of 5/100 or 1/8 of 1 %. Bonds of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No conditional bid will be accepted. AWARD The Bonds will be awarded to the bidder offering the lowest dollar interest cost to be determined by the deduction of the premium, 11 any, from, or the addition of any amount less than par, to the total dollar interest on the Bonds from their date to their final scheduled maturity. The City's computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non - substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. BOND INSURANCE AT PURCHASER'S OPTION If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the option of the bidder, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the purchaser of the Bonds. Any increased costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the purchaser, except that, if the City has requested and received a rating on the Bonds from a rating agency, the City will pay that rating fee. Any other rating agency fees shall be the responsibility of the purchaser. Failure of the municipal bond insurer to issue the policy after Bonds have been awarded to the purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on the Bonds. REGISTRAR The City will name the registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the registrar. CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the purchaser at a place mutually satisfactory to the City and the purchaser. Delivery will be subject to receipt by the purchaser of an approving legal opinion of Holmes & Graven, Chartered of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of 216 customary closing papers, including a no- litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City or its designee not later than 12:00 Noon, Central Time. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the purchaser shall be liable to the City for any loss suffered by the City by reason of the purchaser's non - compliance with said terms for payment. OFFICIAL STATEMENT The City has authorized the preparation of an Official Statement containing pertinent information relative to the Bonds, and said Official Statement will serve as a nearly -final Official Statement within the meaning of Rule 15c2 -12 of the Securities and Exchange Commission. For copies of the Official Statement and the Official Bid Form or for any additional information prior to sale, any prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223 -3000. The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates, principal amounts and interest rates of the Bonds, together with any other information required by law, shall constitute a "Final Official Statement" of the City with respect to the Bonds, as that term is defined in Rule 15c2 -12. By awarding the Bonds to any underwriter or underwriting syndicate submitting an Official Bid Form therefor, the City agrees that, no more than seven business days after the date of such award, it shall provide without cost to the senior managing underwriter of the syndicate to which the Bonds are awarded 170 copies of the Official Statement and the addendum or addenda described above. The City designates the senior managing underwriter of the syndicate to which the Bonds are awarded as its agent for purposes of distributing copies of the Final Official Statement to each Participating Underwriter. Any underwriter executing and delivering an Official Bid Form with respect to the Bonds agrees thereby that if its bid is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring the receipt by each such Participating Underwriter of the Final Official Statement. Dated June 10, 1991 BY ORDER OF THE CITY COUNCIL /s/ Marilyn G. Anderson Clerk- Treasurer 1 1 3. The Clerk - Treasurer is authorized and directed to advertise the Bonds for sale in accordance with the foregoing Official Terms of Offering and to publish the abbreviated notice of sale attached hereto as Exhibit A in the manner required by law. The City Council will meet at 6:30 P.M. on Monday, July 8, 1991, to consider bids on the Bonds and take any other appropriate action with respect to the Bonds. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Neal , and upon vote being taken thereon the following members voted in favor of the motion: Neal, Bisel, Kuether, Reinert, Bohjanen. and the following voted against: none. whereupon the resolution was declared duly passed and adopted. 217 218 NOTICE OF BOND SALE $4,260,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS, SERIES 1991A CITY OF LINO LAKES, ANOKA COUNTY, MINNESOTA Exhibit A NOTICE IS HEREBY GIVEN that sealed bids for the purchase of the above bonds will be received until 10:00, a.m., C.T. on Monday, July 8, 1991, in the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, St. Paul, Minnesota, after which time the bids will be opened and tabulated for consideration by the City Council at a meeting at 6:30 p.m. on the same day. The bonds are offered on the following terms. The bonds will be dated August 1, 1991, will bear interest payable semiannually on each February 1 and August 1, commencing August 1, 1992, and will mature on August 1, 1994. The City may elect on August 1, 1993 or on any day thereafter to prepay bonds due on August 1, 1994. Redemption may be in whole or in part by lot as selected by the registrar. All prepayments shall be at a price of par plus accrued interest. Bidders must specify a price of not less than $4,228,050 plus accrued interest. A legal opinion on the bonds will be furnished by Holmes & Graven, Chartered, Minneapolis, Minnesota. The proceeds of the bonds will be used to finance a portion of the costs of various assessable public improvements in the City. Bidders should be aware that the Official Statement to be distributed for the bonds may contain additional bidding terms and information relative to the bonds. In the event of a variance between statements in this Notice of Bond Sale and the Official Statement bidders must comply with the terms of the latter. BY ORDER OF THE CITY COUNCIL /s/ Marilyn G. Anderson City Clerk- Treasurer Dated: June 10, 1991. 1 1 1 1 STATE OF MINNESOTA COUNTY OF ANOKA CITY OF LINO LAKES I, the undersigned, being the duly qualified and acting Clerk- Treasurer of the City of Lino Lakes, Minnesota, hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular meeting of the City Council of the City held on Monday, June 10, 1991, with the original minutes on file in my office and the extract is a full, true and correct copy of the minutes, insofar as they relate to the issuance and sale of $4,260,000 General Obligation Temporary Improvement Bonds, Series 1991A of the City. WITNESS My hand as City Clerk- Treasurer and the corporate seal of the City this (SEAL) L1:LN140.RAU day of , 1991. e2h ( J`vu e, City C1ei1- Treasurer City of Lino Lakes, Minnesota 219