2017.06.19 CC Packet - Laserfiche WebLink

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Wells Fargo Bank in the event of early redemption of any or all of the bonds. Although the amendment was agreed to between the two parties, any amendment to the Financing Agreement must be approved by the City Council since the City of Hugo issued the bonds. Staff recommends Council approve a resolution providing for the First Amendment to the Educational Facility Revenue Bond (Minnesota Autism Center Project), Series 2015 and authorizing the execution of documents related thereto. G.9 Approve Resolution Calling for a Public Hearing on the Issuance of Revenue Bonds - Minnesota Autism Center Proiect At its June 5, 2017 meeting, the Council held a public hearing on this issue; however the hearing is invalid because the City's legal newspaper failed to publish the required notice for the public hearing. The City of Hugo is being asked to consider issuing Tax -Exempt Revenue Bonds, in an amount of no more than $5.1 million, on behalf of the Autism Opportunities Foundation (the "Borrower"), a Minnesota nonprofit corporation doing business as the Minnesota Autism Center. The bond proceeds will be used to finance the acquisition, construction, and equipping of an intensive therapy center for children and adults ages 10 to 21 diagnosed with autism spectrum disorder ("ASD"). The project will be located at 2010 Silver Bell Road in Eagan, Minnesota. The Borrower has agreed to pay the City of Hugo an issuer's administrative fee of 1/4 of 1% of the principal amount of the bonds in consideration for the City of Hugo acting as issuer. A public hearing on the proposal has been scheduled for July 5, 2017. Briggs and Morgan, the City's bond counsel, has reviewed this request and finds it to be a proper use of the City's bonding authority. Thus, the Finance Department recommends that the City Council approve a Resolution Calling for a Public Hearing on the Issuance of Revenue Bonds and Authorizing the Publication of a Notice of the Hearing. G.10 Approve Promotions of Rick Gregoire, Tom Kaspszak, and Ron Gray to Engineer Positions on the Hugo Fire Department Fire Chief Kevin Colvard recommends Council approve the promotions of Rick Gregoire, Tom Kaspszak, and Ron Gray to Engineer Positions on the Hugo Fire Department Effective June 1, 2017. G.11 Approve Resolutions Approving Final Plat and Development Agreement for Clearwater Cove 41' Addition D.R. Horton is requesting approval of a final plat in order to plat 14 residential lots and 1 outlot on the 10.39 acre parcel located south of Frenchman Road (CSAR 8) and east of Everton Avenue North. The site is currently a vacant outlot. The City Council reviewed the PUD General Plan and preliminary plat for Clearwater Cove at its August 3, 2015 meeting. The final plat will plat the last 20 lots from the Clearwater Cove preliminary plat to complete the development. Staff recommends approval of the resolution approving the Final Plat and Development for Clearwater Cove 4th Addition. G.12 Approve Resolution Approving Encroachment Agreement for 5370 157' Street North James and Amy Webb are requesting approval of an encroachment agreement to locate a deck behind the home at 5370 157th Street North. The applicant is requesting to construct a 10 x 14