HomeMy WebLinkAboutCC RES 11-070 RESOLUTION GIVING THE PRELIMINARY APPROVAL TO THE ISSUANCE OF GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO EXCEED $4,000,000 AND ADOPTING THE CITY OF ST. ANTHONY, MINNESOTA, CAPITAL IMPROVEMENT PLAN FOR THE YEARS 201 Meeting Sheet
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103806
Box: 31
Folder: RES 2011
Document: CC RES 11-070 RESOLUTION GIVING THE PRELIMINARY
APPROVAL TO THE ISSUANCE OF GENERAL OBLIGATION CAPITAL
IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO EXCEED
$40000,000 AND ADOPTING THE CITY OF ST. ANTHONY, MINNESOTA,
CAPITAL IMPROVEMENT PLAN FOR THE YEARS 201
CITY OF ST. ANTHONY
STATE OF MINNESOTA
RESOLUTION 11-070
RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF
GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN
AMOUNT NOT TO EXCEED $4,000,000 AND ADOPTING THE CITY OF ST.
ANTHONY,MINNESOTA, CAPITAL IMPROVEMENT PLAN FOR THE YEARS
2011 THROUGH 2015
WHEREAS,the City Council of the City of St. Anthony, Minnesota(the "City")
proposes to issue its general obligation capital improvement plan bonds (the "Bonds")and
adopt the City of St. Anthony, Minnesota, Capital Improvement Plan for the Years 2011
Through 2015 (the "Plan"); and
WHEREAS, the City has caused notice of the public hearing on the intention to
issue the Bonds and on the proposed adoption of the Plan to be published pursuant to and
in accordance with Minnesota Statutes, Section 475.521; and
WHEREAS, a public hearing on the intention to issue the Bonds and on the
proposed Plan has been held on this date, following published notice of the public hearing
as required by law; and
WHEREAS, in approving the Plan, the City Council considered for each project
and for the overall Plan:
The condition of the City's existing infrastructure, including the projected need
for repair and replacement;
The likely demand for the improvement;
The estimated cost of the improvement;
The available public resources;
The level of overlapping debt in the City;
The relative benefits and costs of alternative uses of the funds;
Operating costs of the proposed improvements; and
Alternatives for providing services more efficiently through shared facilities
with other local governmental units; and
WHEREAS, the City Council has determined that the issuance of general
obligation capital improvement plan bonds in the aggregate principal amount of up to
$4,000,000 is the best way to finance the capital improvements identified in the Plan.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St.
Anthony, Minnesota,that the City hereby adopts the Plan and authorizes the issuance of up
to $4,000,000 aggregate principal amount of general obligation capital improvement plan
bonds.
Adopted this 8th day of November,2011.
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Mayor
ATTEST:
City er
Reviewed for administration:
eri City Manager