HomeMy WebLinkAbout2020.07.06 RESO 2020-29 Approving GO Bonds and CIP AEXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF HUGO, MINNESOTA
HELD: JULY 6, 2020
Pursuant to due call and notice thereof, a regular or special meeting of the City Council of
the City of Hugo, Minnesota, was duly called and held at the City Hall in Hugo, Minnesota on July
6, 2020, at 7:00 p.m. for the purpose, in part, of giving preliminary approval to the issuance of
general obligation capital improvement plan bonds and adopting the capital improvement plan.
The following members were present: Haas, Klein, Miron, Petryk, Weidt
and the following were absent: None
Member Haas introduced the following resolution and moved its adoption:
RESOLUTION 2020-29
RESOLUTION GIVING PRELIMINARY APPROVAL FOR THE ISSUANCE OF GENERAL
OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO
EXCEED $8,000,000 AND ADOPTING THE CITY OF HUGO MINNESOTA, CAPITAL
IMPROVEMENT PLAN THEREFOR
A. WHEREAS, the City Council of the City of Hugo, Minnesota (the "City") proposes
to issue its general obligation capital improvement plan bonds (the "Bonds") and adopt the City of
Hugo, Minnesota, Capital Improvement Plan (the "Plan"); and
B. 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
C. 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
D. WHEREAS, in approving the Plan, the City Council considered for each project and
for the overall Plan:
1. The condition of the City's existing infrastructure, including the projected
need for repair and replacement;
2. The likely demand for the improvement;
3. The estimated cost of the improvement;
4. The available public resources;
5. The level of overlapping debt in the City;
6. The relative benefits and costs of alternative uses of the funds;
7. Operating costs of the proposed improvements; and
8. Alternatives for providing services more efficiently through shared facilities
with other local governmental units; and
E. WHEREAS, the City Council has determined that the issuance of general obligation
capital improvement plan bonds in the aggregate principal amount of up to $8,000,000 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 Hugo,
Minnesota, that the City hereby adopts the Plan and authorizes the issuance of up to $8,000,000
aggregate principal amount of general obligation capital improvement plan bonds.
The motion for the adoption of the foregoing resolution was duly seconded by Member
Klein and, after full discussion thereof and upon a vote being taken thereon, the following voted in
favor thereof Haas, Klein, Miron, Petryk, Weidt
and the following voted against the same: None
Whereupon the resolution was declared duly passed and adopted.
ADOPTED by the City Council this 6t' day of July, 2020
Tom Weidt, Mayor
ATTEST:
Michele Lindau, City Clerk
[Bonds must be approved by at least a three -fifths vote of the membership.]
[Issuance of Bonds is subject to a 30-day reverse referendum after the public hearing.]
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STATE OF MINNESOTA
COUNTY OF WASHINGTON
CITY OF HUGO
I, the undersigned, being duly qualified and acting Clerk of the City of Hugo, Minnesota,
DO HEREBY CERTIFY that I have carefully compared the attached and foregoing extract of
minutes with the original minutes of a meeting of the City Council, duly called and held on the date
therein indicated, which are on file and of record in my office, and the same is a full, true and
complete transcript therefrom insofar as the same relates to a resolution giving preliminary
approval for the issuance of the City's general obligation capital improvement plan bonds and
adopting the City's capital improvement plan therefor.
WITNESS my hand on July 6, 2020.
City Clerk