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.. . .) RESOLUTION NO. 6460 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS WHEREAS, the City of Mounds View, together with the Cities of Spring Lake Park and Blaine (collectively, the "Cities") propose to acquire, construct and equip a new fire station in the City of Blaine (the "Project"); and WHEREAS, it is proposed that each of the Cities adopt a capital improvement plan pursuant to Minnesota Statutes, Section 475.521 with respect to the construction, equipping and financing of the Project; and WHEREAS, it is proposed that pursuant to a Supplement to Joint Powers Agreement among the Cities, a form of which has been presented to the Council at this meeting, the City of Blaine will issue its general obligation capital improvement bonds to finance the Project and the other Cities will be obligated to pay a portion of the debt service on the bonds; and WHEREAS, there has been presented to this Council the 2005 - 2009 Capital Improvement Plan, which, among other things, contemplates the acquisition, construction and equipping of the Project and the issuance of general obligation capital improvement bonds in the aggregate principal amount of $8,400,000 to finance the same (the "Capital Improvement Bonds"); and WHEREAS, the City has caused notice of the public hearing on the proposed adoption of the Capital Improvement Plan and on the intention to issue the Capital Improvement Bonds to be published pursuant to and in accordance with Minnesota Statutes, Section 475.521, and a public hearing on the intention to issue the Capital Improvement Plan Bonds and on the proposed Capital Improvement Plan has been held on this date, following published notice of the hearing as required by law. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View, Minnesota that the City hereby gives preliminary approval for the issuance of up to $8,400,000 in aggregate principal amount of the Capital Improvement Bonds. The terms and conditions of the sale and issuance of the Capital Improvement Bonds will be set forth in a resolution or resolutions to be presented to this Council at a later date. Adopted this 14th Day of February 2005.