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Home My WebLink About2007-03 PH CAPITAL IMPROVEMENT BONDSCTI'Y OF GEM LAKE RESOLUTION NO.2001-03 16 January 2007 A RESOLUTION CALLING A PUBLIC HEARING ON THE INTENTION TO ISSUE GENERAL OBLIGAUON CAPITAL IMPROVEMENT PLAN BQNOS•ANID THE PROF05AL:TO ADOPT A CAPITAL IMPROVEMENT. PLAN THEREFOR. WHEREAS,. PURSUANT TO Minnesota Statutes,.§475:521 theCityofGeihLake, Minnesota.(the "City') may issue. bonds to finance capital expenditures under:it'I;•Capital Improvement Plan (the "Plan")without an election provided that, a.hiong.other things,.prior to issuing the bonds the City adopts the Plan after:aptlblic hearing thereon andpublishes a notice. :ofit's intentionto issue die.bonds•and -the date and time. .of a.hearing to obtain. public comment•on.the•matter; and, WHEREAS,:the,City Council will•holdapublichearing onit's intention to issue general. obligation capital ift*overbentplanbonds (the 'Bonds") -and to. adopt• the•Plan tlierefore pursuant thereto: on 20 February 200.7.; now, therefore, be` it: RESOLVED; bytheCouncil of the City of.Gem Lake, Minnesota, thitttlie City Council hereby calls for a puislic hearing on it's i4writto issue the Bonds and to. adopt the Plan theref irf such hearing to be held wi the date and time set forth in Exhibit A attached Ureto: The City Council is hereby directed to cause the:notice to bepublished•at !past f'outwen.(14)-days but not tnore:than twenty - .eight. (28) days.before. the hearing in the official newspaper of the City or a newspaper ofgeneral circulation in the city. The foregoing Resolution -was dlered.by Councilor name and was supported by Councilor name and was declared adepted/failed based upon the Following vote: OTT:"' :..::, ME. , ..,...• , , . _ ;``•T5 .. W..A, . UN,;,;:' ` : N `::` • R-ASMtJSSE.. ::`;.:; LI ARTIG� ,, �Y •:. ,:• .. -.v.. ";.SWOMLEYE. ATTEST I. Frederic C..-Magnuson, the duly qualified City Clerk of the City of Gem Lake;..County•of Ratnsey, State. of Minnesota, do hereby certifyt vthe foregoing Resolution is.a true and accurate representation of action taken bythe City Council of the City of Gem Lake oiilhe:date ftkst•written. Frederic C. Magnuson 16 January 2007 Frederic C. Magnusoii,.City Clerk Certified Copy Date e-rile: resolutiom12007M2007-03 ncsuiution r+o. zUU t-U4 Page A -I EXHIBIT A DECLARA'n01j OR QFFICIAL INTENT The undersigned, being the duly appointed and acting City Clerk of �. the City of Gem Lake, Minnesota pursuant to and for purposes ofcontpliance with Treasury Regulationsf.kction 1..150-2.(the "RegulatioM'), Wider the late l Revenue:Code.of 1986, as amended, hereby states and certifies on behalf of the City as follows: 1. The undersigned has beenand is=onrthe-date. hereofdWy. authorized by the City Council to make and execute this Declaration .pf Official intent (the "Declaration"). for and'on behalf of the. City. 2. Thi..s Declaration related to the following'pFojec.i.w.pro&l i-(the. "Project") and the. costs. thereof to be financed: INSERT PROJECT & COSTS 3. The City reasonably expects to reimburse. itself fof the payment of certain costs of.the.Project:out:ofthe proceeds of a bond issue pr'simiiar borrowing (the "Bonds"} to be issued by the City after the datrvPtpayment of sttcli costs. As of.the.date hereQf0he. City reasonably expects that.$ Is the maximuei issued*to. finance the Project. m Pam► PaJ. amount of the .Bonds which will be. 4. Each expenditure to be reimbursed from the Bond" 8,or*wHl*be a capital expenditure.or a cost of issuance, orany rattier types of expenditures .described in Section 1.15.0-2(4)(3) of 0ie-Rggulations. 5. As of the date :hereof; the statements arid expectsftions:.containcd."m this Declaration are believed to be. reasonable and accurate. Date; � City Clerk. City of Gem Lake; Minnesota I APPENDIX D EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF GEM LAKE, MINNESOTA HELD: January 16, 2007 Pursuant to due call and notice thereof, a regular or special. meeting of the City Counoij of City of Gem Lake, Minnesota, was duly called and held at the.. City Hall in -the City of C-Tem, Lake, Mininesota on Tuesday, the 1. 0h day of January, 2007 at 7:00.p.M. for the. purpose, :in part of callIn. 9 a public hearingon the intention to issue. general obligation capital improvement: plan bonds and the proposal to adopt ca* ital. improtveMejit 1p. . an - therefor. The following members. were present: And the following were absent- . Merio* introduced the following -resolution and moved its adoption! kESOLtIT1614 CALLING PUBLIC HEARING -ON THE INTENTION TO ISSUE GENERAL OBLIGATION 'CAPITA .IMPROVEMENT PLAN BONDS AND THE PROPOSAL TO ADOPT A CAPITAL IMPROVEMENT PLAN THEREFOR - A. MinnesotaWHEREAS:pursuatit-toStatutes, Section 475.5.2.1 the City of Gem Lake, 4 Minnesota (the "City") may issue bonds to finance capital expenditures under its capital improvement plan (the "Plan"} without an election provided that, among other things, prior to issuing the bonds. the Oty-adopti -the Plan a&r. apuhlic heanng thereon and publikhes aiwfiee of its - intention to issue the bonds and the date and firriq of a hearing to obtain public comment on the matter; and B. WHEREAS, the City Council will hold a publiehearing on its. intention tib issue general obligation capital improvepient- plan bonds (the ."Bondsl and -to adopt - the- Plan therefor pursuant thereto on February 20, * and Ehlers & Associates, Inc. Page 14 NOW,.THRREFOR, BENT RE -SOLVED by the City. Council of the City o£GemLake,. Minnesota., that -the City:Council hereby calls. -for a public hearing on its intent tbr-low the Bonds.- and -to adopt-the.Plan-therefor, such hearing to be-hetd on- the date and time set forth in Rxhibit A -attached-hereto. The City Council is hereby -directed -to cause the notice to be published at least 14 *but not more thin 28. days before -the hearing in the off iicial newspaper of the City or a. newspaper -of general circulation in thet.City. The motion for the adoption of the foregoing resolution was duly seconded by mender and; after full discussion thereof and upon a vote being taken thereon;:the following voted in favor thereof: and the fallowing voted the saine: Whereupon said resolution was declared duly passed and adopted. Ehlers & .Associates, Inc.. Page 5 STATE OF-MrNNESOTA CpljNTY. OF RAMSEY CITY`OF GEM LAKE L. the undersigned, being duly qualified and acting Clerk:of the.City of. Gem Lake, Winndsbta, DO HEREBY CERTIFY that I have cornpioftd the attached a#dfbregoing ext * rn�t:of minutes with the original �thereof on file in my office, and that the same is a full,. true and complete transcript of the minutes of a meetvAg of the City Council. of.said City, duly 'balled and held on the date therein'indicated, insofar -as such minutes:relate to the City. Council calling apublic hearing ion the .intention to issue gpnoij ob]jgktion capital ihiproverriefit plan bonds And pmposal to adopt.a capital. improvement. plan therefor. WITNESS my hand on this 16'h dayiofJanuary, 2001. City .Clerk Ehlers & Associates, Inc. Page 16 EXHIBIT A CITY OF GEM LAKE NOT -ICE. OF PUBLIC HEARING ON INTENTION TO ISSUE GENERAT; OBLIGATION CAPITAL..IMPROVEMENT PLAN BONDS AND PROPOSAL TO ADOPT A CAPITAL IMPROVEMENT PLAN THEREFOR NOTICE IS. HEREBY GIVEN, that the City Council of*the City of Gem Lake, Minnesota. will meet on February-.20, 2007 at 7:00 p:m. ai the City M4.1493 East County Road E, Gem .Lake,.. Minnesota, for the purpose of conducting a public hearing on (a) the intention to issue gencral obligation capital improvement plan bonds in an amount not to -exceed. $850,000 and (b) the proposal. to adopt a capital improvement plan therefor. T'he.pmceeds. of the bonds will be used to fumce-various capital improvements within.the City pursuant to Minnesota Statutes,-Se�tiort 475.kl; specifically to finance the construction -of a -now jointme -city. hall: building to be shared with White BearTownship and the Ramsey County -Sheriff & Office: :All persons: interested. may appear and be heard at the time and place set foith above. If a petition requesting -a vote. oA thp-issuance of the -0ond.s is -signed by voters equal to 5 percent of the votes cast in -&.City in the last feral election-andis filed' with the City within 30 days after the public hearing, the -bonds -may onlybe issued. upon obtaining the.approval of the 1 majority of the voters voting on the question of -issuing the bonds. Individuals unable to attend.the public hearing can.make written comment by writing to Fritz Magnuson, City Cld*, .1369 East County Road L, Gem Lake, Minnesota, 55110. Written comments must be received. prior -to -the public hearing, BY ORDER OF THE CITY COUNCIL /s/ Fritz Magnuson City Clerk [Submit: 1/25,;-Publish: 1/3 t ] Ehlers.&: Associates, Inc. Page 17