Laserfiche WebLink
jek tes.4,40 r-COL, <br /> 470 Pillsbury Center <br /> Kennedy 200 South Sixth Street <br /> Minneapolis MN 55402 <br /> (612) 337-9300 telephone <br /> Graven (612) 337-9310 fax <br /> CHARTER E D http://www.kennedy-graven.com <br /> SCOTT J.RIGGS <br /> • Attorney at Law <br /> Direct Dial(612)337-9260 <br /> Email: sriggs@kennedy-graven.com <br /> May 19,2004 <br /> VIA FACSIMILE &U.S.MAIL <br /> (763) 784-3462 <br /> Mr. Kurt Ulrich <br /> City Administrator <br /> City of Mounds View <br /> 2401 Highway 10 <br /> Mounds View,MN 55112 <br /> RE: Interpretation of City Charter Section 7.10 <br /> Our File No. MU210-4 <br /> • Dear Kurt: <br /> Pursuant to your request and in follow up to information previously forwarded to me by City <br /> Finance Director Charles Hansen, I am forwarding this opinion to you regarding the interpretation <br /> of City Charter Section 7.10 in reference to the following question: <br /> Does the language of City Charter Section 7.10 require the City to conduct an <br /> election prior to the issuance of general obligation bonds for the financing of a street <br /> reconstruction project that is to be paid for in part by special assessments in an <br /> amount that is equal to or exceeds 20%of the project costs? <br /> Based upon the discussions set forth below, I am of the opinion that City Charter Section 7.10 does <br /> not require the City to conduct an election prior to the issuance of general obligation bonds for the <br /> financing of such a street improvement project. <br /> The Mounds View City Charter provides for city indebtedness and the issuance of debt obligations <br /> at Section 7.10 of the Charter. Section 7.10 provides as follows: <br /> Section 7.10. City Indebtedness. <br /> Subdivision 1. Except as provided in Sections 7.11 and 7.12, no obligation shall be <br /> . issued to pay current expenses, but the Council may issue and sell obligations for <br /> any other municipal purpose in accordance with state law and within the limitations <br /> SJR-248008v1 <br /> MU210-4 <br />