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RESOLUTION 8658 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION ADOPTING A CAPITAL IMPROVEMENT <br />PLAN AND GIVING PRELIMINARY APPROVAL TO <br />THE ISSUANCE OF GENERAL OBLIGATION <br />CAPITAL IMPROVEMENT BONDS <br /> <br /> <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 b y 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 this 14th Day of November 2016. <br /> ___________________________ <br /> Joe Flaherty, Mayor <br />(ATTEST) <br /> ___________________________ <br /> Jim Ericson, City Administrator <br />(SEAL)