HomeMy WebLinkAboutResolution 8658 RESOLUTION 8658
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION ADOPTING A CAPITAL IMPROVEMENT
PLAN AND GIVING PRELIMINARY APPROVAL TO
THE ISSUANCE OF GENERAL OBLIGATION
CAPITAL IMPROVEMENT BONDS
WHEREAS, the City of Mounds View proposes to construct and equip a new
public works facility at the present location in the City of Mounds View(the "Project"); and
WHEREAS, it is proposed that the City of Mounds View 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,there has been presented to this Council the 2017 - 2021 Capital
Improvement Plan(the "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$7,500,000 to finance the same
(the "Capital Improvement Bonds"); and
WHEREAS,the City has caused notice of the public hearing on the intention to
issue the Capital Improvement Bonds and on the proposed adoption of the Capital Improvement
Plan 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 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 approves the 2017—2021 Capital Improvement
Plan and gives preliminary approval for the issuance of up to $7,500,000 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 thi 4th Day of November 2016.
oe Flaherty, Mayor
ATTEST:
James Ericson, City Administrator
(SEAL)