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HomeMy WebLinkAboutRES 20-022 ADOPTING A STREET RECONSTRUCTION AND OVERLAY PLAN AND AUTHORIZING THE ISSUANCE AND SALE OF STREET RECONSTRUCTION AND OVERLAY BONDSCERTIFICATION OF MINUTES RELATING TO ADOPTION OF A STREET RECONSTRUCTION AND OVERLAY PLAN AND ISSUANCE AND SALE OF STREET RECONSTRUCTION AND OVERLAY BONDS Issuer: City of St. Anthony, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A regular meeting held on March 10, 2020, at 7:00 p.m., at the City Hall. Members present: Wa) ke ' , 3QAon , SV 1 1-e..1 Members absent: Pa (\�� Documents Attached: Minutes of said meeting (pages): RESOLUTION NO. 20-022 RESOLUTION ADOPTING A STREET RECONSTRUCTION AND OVERLAY PLAN AND AUTHORIZING THE ISSUANCE AND SALE OF STREET RECONSTRUCTION AND OVERLAY BONDS I, the undersigned, being the duly qualified and acting recording officer of the public corporation issuing the bonds referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said bonds; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law. WITNESS my hand officially as such recording officer on March 10, 2020. 1 City Clerk The Mayor stated that this was the time and place fixed for a public hearing to be held on (i) the adoption of a street reconstruction and overlay plan and (ii) the issuance of general obligation street reconstruction and overlay bonds, all pursuant to Minnesota Statutes, Section 475.58. The City Clerk presented an affidavit showing publication of the notice of public hearing at least ten (10) but not more than twenty-eight (28) days prior to the date fixed for the public hearing in the Star Tribune, being the official newspaper of the City. The affidavit was examined, found to be satisfactory and ordered placed on file with the City Clerk. The Mayor then opened the meeting for the public hearing. The purpose of the hearing was explained, and all persons present who desired to do so were afforded an opportunity to express their views with respect to the proposals. After all persons who wished to do so had stated or filed their views on the proposals, the Mayor declared the public hearing to be closed. Councilmember 3.-eAa n introduced the following resolution and moved its adoption, which motion was seconded by Councilmember (.94 r : RESOLUTION NO. 20-022 RESOLUTION ADOPTING A STREET RECONSTRUCTION AND OVERLAY PLAN AND AUTHORIZING THE ISSUANCE AND SALE OF STREET RECONSTRUCTION AND OVERLAY BONDS BE IT RESOLVED by the City Council (this "Council") of the City of St. Anthony, Minnesota (the "City"), as follows: SECTION 1. FINDINGS. On the date hereof, the City held a public hearing on (i) the issuance of its bonds, in one or more series, under Minnesota Statutes, Chapter 475.58, Subdivision 3b, as amended (the "Act"), in order to finance the costs of street reconstruction and overlay projects, as described in the proposed street reconstruction and overlay plan (the "Project") and (ii) the proposed street reconstruction and overlay plan prepared with respect to the Project (the "Plan"). All parties who appeared at the hearing were given an opportunity to express their views with respect to the proposal to adopt the Plan and undertake and finance the Project, and any written comments submitted prior to the hearing were considered. The City hereby adopts the Plan. SECTION 2. PURPOSE. It is hereby determined to be in the best interests of the City to issue its general obligation street reconstruction bonds (the "Bonds"), in the principal amount not to exceed $3,000,000, to finance the costs of the Project. The financing of the Project and the issuance and sale of the Bonds would further the policies and goals of the City as set forth in the Plan. SECTION 3. AUTHORIZATION AND APPROVAL OF BONDS. The City gives preliminary approval to issuance of the Bonds, the proceeds of which will be used, together with any additional funds of the City which might be required, to finance certain costs of the Project and to pay costs of issuance of the Bonds. If a petition requesting a vote on issuance of the Bonds, signed by voters equal to five percent of the votes cast in the last general election, is filed with City Clerk by April 9, 2020, the City may issue the Bonds only after obtaining approval of a majority of voters voting on the question at an election. Upon vote being taken thereon, the following members voted in favor thereof: tb*QC) 5,v1 an, S. 41U- V.0,\A`e w - S-./ and the following members voted against the same: Nw\L whereupon the resolution was declared duly passed and adopted.