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RESOLUTION 8658 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION ADOPTING A CAPITAL IMPROVEMENT <br /> PLAN AND GIVING PRELIMINARY APPROVAL TO <br /> THE ISSUANCE OF GENERAL OBLIGATION <br /> CAPITAL IMPROVEMENT BONDS <br /> WHEREAS, the City of Mounds View proposes to construct and equip a new <br /> public works facility at the present location in the City of Mounds View(the "Project"); and <br /> WHEREAS, it is proposed that the City of Mounds View adopt a capital <br /> improvement plan pursuant to Minnesota Statutes, Section 475.521 with respect to the <br /> construction, equipping and financing of the Project; and <br /> WHEREAS,there has been presented to this Council the 2017 - 2021 Capital <br /> Improvement Plan(the "Capital Improvement Plan"), which, among other things, contemplates <br /> the acquisition, construction and equipping of the Project and the issuance of general obligation <br /> capital improvement bonds in the aggregate principal amount of$7,500,000 to finance the same <br /> (the "Capital Improvement Bonds"); and <br /> WHEREAS,the City has caused notice of the public hearing on the intention to <br /> issue the Capital Improvement Bonds and on the proposed adoption of the Capital Improvement <br /> Plan to be published pursuant to and in accordance with Minnesota Statutes, Section 475.521, <br /> and a public hearing on the intention to issue the Capital Improvement Bonds and on the <br /> proposed Capital Improvement Plan has been held on this date, following published notice of the <br /> hearing as required by law. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br /> Mounds View, Minnesota that the City hereby approves the 2017—2021 Capital Improvement <br /> Plan and gives preliminary approval for the issuance of up to $7,500,000 in aggregate principal <br /> amount of the Capital Improvement Bonds. The terms and conditions of the sale and issuance of <br /> the Capital Improvement Bonds will be set forth in a resolution or resolutions to be presented to <br /> this Council at a later date. <br /> Adopted thi 4th Day of November 2016. <br /> oe Flaherty, Mayor <br /> ATTEST: <br /> James Ericson, City Administrator <br /> (SEAL) <br />