HomeMy WebLinkAboutResolution 6460
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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.
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RESOLUTION 6460
Page 2
(ATTEST)
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'Rob Marty, Mayor ..:::t. --
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Kurt Ulrich
City Administrator
(SEAL)