HomeMy WebLinkAbout2025-028jr�
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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
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with the requirements of Minnesota Statutes, Section 462.356, subd. 2 relating to planning commission
review of the Plan and the Capital Improvements.
Section 3. Authorization.
3.01. It is hereby found, determined and declared that the City should issue its General Obligation
Capital Improvement Plan Bonds, Series 2025A (the `Bonds") in the maximum aggregate principal amount
of $4,680,000, pursuant to the Act, including Section 475.521, in order to finance the Capital Improvements
under the Plan, including financing the City's proportionate share of the construction and equipping of a new
fire station within the City and related financing costs.
3.02. If a valid petition requesting a vote on the issuance of the Bonds, signed by voters equal to
5% of the votes cast in the last municipal general election, is filed with the City Clerk within 30 days after the
date of the public hearing, the City may issue the Bonds only after obtaining approval of a majority of voters
voting on the question at an election.
3.03. City staff are authorized and directed to take all other actions necessary to carry out the
intent of this resolution.
The motion for adoption of the foregoing resolution was duly seconded by Member
and upon vote being taken thereon, the following voted in favor thereof: 6 VVLA- -" � On G&n
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
Approved this 1 Oth day of March, 2025, by the City Council of the City of Arden Hills, Minnesota.
CITY OF ARDEN HILLS, MINNESOTA
Mayor
ATTEST:
City erk
2
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