HomeMy WebLinkAboutResolution 8714 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.
Resolution 8714
Page 2
Adopted this 13th day of February, 2017.
7_‘,( GGGZ .I
Carol A. Mueller, ayor
ATTEST:
James Ericson, City Administrator
(seal)