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RESOLUTION NO. 8714 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION PROVIDING FOR THE EXECUTION OF A THIRD SUPPLEMENT TO JOINT POWERS AGREEMENT (FIRE PROTECTION) WHEREAS, the Cities of Spring Lake Park, Mounds View and Blaine (collectively, the “Cities”) propose pursuant to that certain Joint Powers Agreement for the Provision of Fire Protection Services, dated December 11, 1990, as previously amended and supplemented (the “Joint Powers Agreement”), and a Third Supplement to the Joint Powers Agreement to be entered into by the Cities (the “Supplement”), to finance various equipment (including but not limited to a 75-foot ladder truck equipped with an aerial ladder, fire pump, booster tank, hoses, and ground ladders, a “Chief’s” passenger vehicle, and a truck for grass fires) for municipal fire protection and firefighting purposes (collectively, the “Equipment”); and WHEREAS, Mounds View has been informed by Spring Lake Park that Spring Lake Park proposes to issue its General Obligation Equipment Certificates of Indebtedness, Series 2017A (the “Certificates”), pursuant to Minnesota Statutes, Section 412.301, to finance the acquisition of the Equipment; and WHEREAS, the aforementioned transaction requires the execution of the Supplement to the Joint Powers Agreement, such that Spring Lake Park is authorized to issue the Certificates; and WHEREAS, Blaine has informed the Cities that it anticipates issuing tax-exempt bonds in excess of $10,000,000 during calendar year 2017, which will make all tax-exempt obligations to be issued by Blaine non-“bank qualified” obligations, which in turn will make such obligations a less attractive investment, thereby potentially increasing the interest rates on the Certificates; and WHEREAS, the Supplement is required for the Certificates because Section III(G) of the Joint Powers Agreement anticipates Blaine as the issuer of general obligation bonds to defray the costs of acquisition, construction, furnishing and betterment of land, buildings, and equipment for municipal fire protection and firefighting purposes. NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View, Minnesota, as follows: 1. The City Council hereby approves the Supplement in substantially the form on file with the City, subject to modifications that do not alter the substance of the transaction and that are approved by the City Attorney and the City Administrator; provided that execution of the Supplement by the Mayor and the City Administrator shall be conclusive evidence of approval. 2. The Mayor and the City Administrator are hereby authorized to execute the Supplement on behalf of Mounds View, and to carry out on behalf of Mounds View, its obligations thereunder.