HomeMy WebLinkAboutResolution No. 2007-017 Adopting CIP for 2007-2011 RESOLUTION NO. 2007-17
RESOLUTION ADOPTING THE CAPITAL IMPROVEMENT
o� @ PROGRAM CALENDAR YEARS 2007-2011 AND AUTHORIZING
THE ISSUANCE AND SALE OF$7,500,000 GENERAL OBLIGATION
CAPITAL IMPROVEMENT PLAN BONDS
City of wind
WHEREAS, during the course of the preparation and review of a capital improvement plan under
Minnesota Statutes, Section 475.521, designated as the "Capital Improvement Program Calendar Years
2007-2011" (the "CIP"), the City Council (the "Council") of the City of Edina, Minnesota (the "City") has
considered, for each capital improvement and for the CIP overall: the condition of the City's existing
infrastructure, including the projected need for repair or replacement; the likely demand for the
improvement; the estimated cost of the improvement; the available public resources; the level of
overlapping debt in the City;the relative benefits and costs of alternative uses of the funds; operating costs
of the proposed improvements; and alternatives for providing services most efficiently through shared
facilities with other cities or local government units;and
WHEREAS, the CIP covers a five-year period beginning January 1, 2007; sets forth the estimated
schedule, timing, and details of specific capital improvements by year, together with the estimated cost,
the need for the improvement,and sources of revenue to pay for the improvement;and
WHEREAS, pursuant to Minnesota Statutes, Section 475.521 the City has published notice of its
intention to issue capital improvement plan bonds under the CIP and the time and date of the hearing to
obtain public comment on the matter at least fourteen (14) but not more than twenty-eight(28) days prior
to the date hereof;and
WHEREAS, the City has, on December 19, 2006,held a public hearing on its intention to issue the
• capital improvement plan bonds under the CIP.
BE IT RESOLVED by the City Council of the City of Edina,Minnesota as follows:
SECTION 1: ADOPTION.The CIP is hereby adopted.
SECTION 2. PURPOSE. It is hereby determined to be in the best interests of the City to issue its general
obligation capital improvement plan bonds, in the aggregate principal amount of up to $7,500,000,
pursuant to Minnesota Statutes, Section 475.521 and Chapter 475, to financ the demolition of the City's
Fire Station No. 1 located at 6250 Tracy Avenue in the City and the con tr tion of a new fire station on
such site.
Dated: Pnuary 16,2007
Attest:
Debra A. Mangen,Ci Clerk James B. Hovland,Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN)SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
I,the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached
and foregoing Resolution was duly adopted by the Edina City Council at its Regular Meeting of January 16,
2007 and as recorded in the Minutes of said Regular Meeting.
• WITNESS my hand and seal of said City this day of ,20_.
City Clerk
City Hall 952-927-8861
4801 WEST 50TH STREET FAX 952-826-0390
EDINA,MINNESOTA,55424-1394 www.cityofedina.com TTY 952-826-0379