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jr� -A� HIi,LS CITY OF ARDEN HILLS COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO.2025-028 RESOLUTION APPROVING A CAPITAL IMPROVEMENT PLAN AND APPROVING THE ISSUANCE OF CAPITAL IMPROVEMENT PLAN BONDS BE IT RESOLVED by the City Council (the "Council") of the City of Arden Hills, Minnesota (the "City") as follows: Section 1. Background. 1.01. The City is authorized under Minnesota Statutes, Chapter 475, as amended (the "Act"), including Minnesota Statutes; Section 475.521, as amended ("Section 475.521") to prepare a capital improvement plan and carry out programs for financing certain capital improvements, and to issue general obligation bonds to finance the cost of capital improvements described in the plan. 1.02. Before the approval of the plan and issuance of any general obligation bonds under the Act, the City is required to hold a public hearing on the plan and issuance of the bonds. 1.03. Pursuant to Section 475.521, the City has caused to be prepared a five-year capital improvement plan (the "Plan"), which describes certain capital improvements in the City for the years 2025 through 2029. 1.04. The City has determined that it is in its best interests to provide for the issuance and sale of capital improvement plan bonds pursuant to the Act, including Section 475.521, in an aggregate principal amount not to exceed $4,680,000, to finance the capital improvements set forth in the Plan including to finance the City's proportionate share of the construction and equipping of a new fire station within the City (the "Capital Improvements"). 1.05. On this date, the Council held a public hearing on the Plan and the issuance of the bonds, after publication in the City's official newspaper of a notice of public hearing at least 14 days but no more than 28 days before the date of the public hearing. Section 2. Plan Approved. 2.01. The Council finds that the Capital Improvements set forth in the Plan will serve the interests of the City as a whole. 2.02. The Plan is approved in the form on file in City Hall. 2.03. Pursuant to Minnesota Statutes, Section 462.356, subd. 2, the Council, by at least three - fifths vote of all of its members, finds that the Plan and the Capital Improvements to be financed with the bonds do not impact and do not have a relationship to the City's comprehensive plan; the Plan and the Capital Improvements are consistent with the City's comprehensive plan; therefore, the Council dispenses AR200-22-1008751 A