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CITY OF GEM LAKE RESOLUTION NO.2007-03 16 January 2007 A RESOLUTION CALLING A PUBLIC HEARING ON THE INTENTION TO ISSUE GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS AND THE PROPOSAL TO ADOPT A CAPITAL IMPROVEMENT PLAN THEREFOR. WHEREAS, PURSUANT TO Minnesota Statutes, §475.521 the City of Gem Lake, Minnesota (the "City") may issue bonds to finance capital expenditures under it's Capital Improvement Plan (the "Plan") without an election provided that, among other things, prior to issuing the bonds the City adopts the Plan after a public hearing thereon and publishes a notice of it's intention to issue the bonds and the date and time of a hearing to obtain public comment on the matter; and, WHEREAS, the City Council will hold a public hearing on it's intention to issue general obligation capital improvement plan bonds (the "Bonds") and to adopt the Plan therefore pursuant thereto on 20 February 2007; now, therefore, be it RESOLVED, by the City Council of the City of Gem Lake, Minnesota, that the City Council hereby calls for a public hearing on it's intent to issue the Bonds and to adopt the Plan therefor, such hearing to be held on the date and time set forth in Exhibit A attached hereto. The City Council is hereby directed to cause the notice to be published at least fourteen (14) days but not more than twenty- eight (28) days before the hearing in the official newspaper of the City or a newspaper of general circulation in the City. The foregoing Resolution was offered by Councilor name and was supported by Councilorname and was declared adopted/failed based upon the following vote: NAiNIF EMEOTT INAtTSON RASMUSSEN SCHILLING A R1 IG-SWOMLEV VOTE ATTEST I, Frederic C. Magnuson, the duly qualified City Clerk of the City of Gem Lake, County of Ramsey, State of Minnesota, do hereby certify that the foregoing Resolution is a true and accurate representation of action taken by the City Council of the City of Gem Lake on the date first written. gxednir�ic 96ft"w� 2007 Frederic C. Magnuson, City Clerk Certified Copy Date e-file: reso1ution\2007\no2007-03