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HomeMy WebLinkAbout19751103_regularAnswering rollcall were Umbers Courtney, Richards, Schmidt, Shaw and Mayor Van Valkenburg . DIRECTOR OF PTJELIC SAFETY VAYXS W. BEhnlETT RECOGNIZED UPOM XETIREI4ENT. - Mayor Van , Valkezburg read a Resolution of Appreciation in recognition of the forthconling retirenient of Director of Public Safety, Wayne GJ. Bennett: WHEREAS, Director of Public Safety Wayne W. Beilnett began his public service as Chief of Police for the Village of Edina on August 1, 1455; and ITdEREAS, because of his expertise in the field of public safety and his excellence in his rapport with the officers of the Edina Police Department, May 14, 1962, Wayne W. Rennett was appointed Director of Public Safety for the City of Edina; and I~IHEREAS, over these twenty years, Wayne W. Bennett has served the citizens of Edina most effectively, many times at great personal danger; and WEEREAS, in 1965, Wayne W. Bennett was hnored by receiving the C. C. Ludwig Award from the League of Minnesota l+iunici.palities in recognition of his outstanding municipal service; and I,U3EPE4S, Wayne W. Bennett now goes to fill. a position which will be less personally demanding thm his positions as Director of Public Safety , Police Chief and Civil Defecse Cfrector for the City of Edina; NOW, THEFSFORE, BE IT RESOLVED that the Edina City Council does hereby cormend DIRECTOR 03' PUBLIC SAFETY WAYNE W. BENNETT on behalf of all of the citizens of Edina for his many years of unselfish dedicatlon to'nalciiig Edina a better community; and BE IT PLTKTI-IER RESOLVED that a copy of this Resolution be recorded upon the PEinutes Book of the City of Edina and that an appropriate copy of this Resolution be pre- sented tc Chief Bennett. Motion for adoption of the'foregoing resolution was offered by Counciluan Courtney, seconded by Councilman Shaw and unanimously carried.' . RESOT,TJTION GP A?PRECL4TIGN --- i' 9 .. - MR. CARL MARTH THANKED FOR DONATING EVERGREEN TREES TO CITY_, Nr. Hyde calleci i 1 Council's attention to the fact that Nr. Carl Math has donated a number or' sub expressed .ghe sincere appreciation of the City. appreciation will be made. t, .-.t--+z-i -__--_-I_- c.---.- -_ ~--zc-- 2, .._ __..-__ ..q, u.. L.----- ne---- --.? - -------- - . -- _---- -- --- -- -_-- --- , --_ _- L-+ - ---- ---- I --- 4 An appropriate gesture of Iv SAZE OF BOhDS APPROVED. official newspaper and in the Commercial West of the notice of sale of $3,500,000 Imprsvement Bonds, $950,000 General Obligation Park Bonds and $2,200,000 General Obliget5on Redevelapment Bonds of the City, bids for which were EO be considered at this mtzet5-ng as provided by the Collncil resolution adopted Septexber 15, 1975. The affict?vfts were exazined and approved and ordered placed cn file. reported that .famesealedbids for the purchase of the bonds had been received a.t or read 2nd considered, and were all foGnd to conform to the notice sf sale and to be accompanied by the required security, and the purchase price, coupon races and riel: interesc cost under the terms of each bid were founz to be as follows: The Clerk presented affidavits showing pitblication in the . The Nanager . before the time stated in the notice, and the bids were then opened snd publlcfy Net Irrter- est Cost - Rede re19 ment . Preiniun _I Improvement Rfdd er Bonds Park Bonds &on& - 1st Kat. 1977-1979 5.30 1977-1979 5.30 2978-iYi3 5.30 $2,650.00 5.864% Bank Of 1980-1983 5.50 1980 5.59 Mpls . L 1st: 1377-1983 5.50 1977-1980 5.50 Chicago .. Natl . Bank or' Chicago for the 1% nag c r s 1980-1983 1984 1985 1986 1987 1988 1989 1990 199 1 1992-1993 1978-1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 5.50 5.60 5.75 5.90 6.00 6.10 6.20 6.30 6.40 6.50 5.50 5.70 5.85 6.00 6.20 6.35 6.50 6.00 6.70 6.80 $ 568.00 5977028% I 1 s3 I' ?I? Iinprooezent Redevelopment Kc?t Inter- Stuar; & 1S78-1933 5.60 Co . * Chase 1977-1979 5.50 1980 5.60 1985 5.70 19S6 5.85 1987 6.00 1988 6.20 1989 6.35 1990 6.50 1991. 6.60 1992 6.70 1993 6.75 1977-1979 5.50 1978-1979 5.50 $lOd.CO Manhatten 1980-1983 5.60 1980 5.60 1980-1984 Bank, N.A. 1985 1986 1987 1988 1989 1990 1991 19 9 2- 1 9 93 5.60 5.90 6.00 6.20 6.30 6.50 6.60 6.70 6.75 After ccns,->ration o est Cost 6.01861-a- 6.0566% the forego,ing b is, Councilman Courtney in-roduced the following resolution and moved its adoption: RESOLUTION AWEDING SALE OF $3,500,000 IN!?ROVEXEh"II BONDS, $950,000 GENERAL.OBLIGATIOX PARK BOXDS AND $2,200,000 GENERAL OBLIGATION REDEVELOPMENT BONDS BE IT RESOLVED by the City Council of the City of Edina, Xinnesota, as'follows: 1. September 15, 1975, the issuance and sale of $3,500,000 Improvement Bonds, $950,000 Generzl Obligation Park Bonds and $2,200,000 General Obligation Redevelopment Bonds. and the Council has publicly received, opened and considered all sezled bids ?resented in conformity with the Notice. is hereby acckpted, is ascertained to be that of First National Bank of Mi6ne- apolis, of XinrieaFolis, Minnesota, and associates, to purchase the Bonds at a price of par and accrued interest to the date of delivery, plus a prenim of . , xn nn ti.p 74L.z.us.:-.- rates per .znnm, from date of issue until paid: The City has authorized by a resolution of the City Council adopted The Notice of Sale of t'ne Bonds has been duly published The most favorzble of such bids, which A- Llrp .:nc**fi~ nF Rnndm Ln-.r-.'Tn 4'ntn.rrr-t -t kLrr ~~~~~~~:=- 0 . _--_ " ____-_----- ---- -- $3,500,000 Improvement Bonds Maturity . Interest Years Rate 1977 5.30 1978 5.30 2979 5.30 1980 5.50 1981 5.50 1982 5.50 1983 5.50 $950,000 General Obfigation Park Bonds Xaturi ty Interest Years 1977 Rate 5.30 1978 5.30 1979 .5.30 1980 a 5.50 $2,200,000 General Obligation Redevelopment Bonds Maturity Interest Years 1978 . 1979 1980 1982 1983 1984 1985 1986 1987 1985 1989 1990 1991 199% 1993 1931 Rate 5.30 5.30 5.50 5.50 5.50 5.50 5.60 5.75 5.90 6.00 6.10 6.20 6.30 .6.40 6.50 6-50 '. 3 L. . . I.' , 2. tlThe Mayor and City Clerk are here3y authorized and directed by execute in dupyicate a contract for the sale of the Bonds by the City in accordance with -s-ai& bid and to deliver a duplicete to the-pTirchssers. The City Clerk is dir" ectcd to retain the purchasers' checks securing the contract of sale until the bonds are delivered and the purchase p ing other bids to thi respective bidders, ATTEST : B * ,A /L ?b 1- vity Clerk The motion for adoption of the foregoi man Richards, and upon vote being taken thereon, the following voted in favor thereof: Council Members Courtney, Richards, Schmidt and Mayor Van Valkenburg, with Councilman Shaw abstaining, whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor and attested by the City Clerk. After some discussion, Councilman Courtney introduced the following resolution and moved its adoptian: .I RESOLUTION AUTHORIZING AND ESTABLISHING THE TERMS OF $3,500,000 IMPROVEMENT i?- m k3 w BONDS AND PROVIDING FOR THEIR PAYMENT BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows: Section 1. Authorization and Sale of Bonds. - 1.01 This Council, by its resolution dated September 15, 1975, authorized the issuance and sale of $3,500,000 Improvement Bonds of the City (hereinafter the Bonds) to finance the construction of various local improveznents as more fully est due on $1,000,000 Temporary Iniprovement Bonds of the City, maturing on December.16, 1975, as more fully receited in Section 1.02 of said resolution. 1.02 ment'.Bonds, $950,000 General 'Obligation Park Bonds and $2,200,000 General Obligation Redevelopment Bonds," adopted on November 3, 1975, this Council ' award6d the sale of the Bonds,'together with two separate issues of bonds of the City, to the most favorable bidder, after public sale as required by law. The Bonds shall be issued pursuant td the terms and conditions set forth in this ~ resolution. 2.01 , described' in Section 1.01 of said resolution and to pay the principal and inter- By its resolution enticled "Resolution Awarding Sale of $3,500,000 Improve- Cnnf..'-- 3 =e..-- -C Bc-d-. 1-2 P-.----- -------- -- ---- I- *--- ---- ---r----- -- The Bonds shall be in substantially the following form: UNITED STATES OF MERICA STATE OF MINNESOTA COUNTS OF HENNEPIN * CITY OF EDINA IMPROVEMENT BOND NO. $5,000 KNOW ALL EN BY THESE PXESENTS that the City of Edina, Hennepin County, dinnesota, acknowledges itself to be indebted and-for value received promises to pay to bearer the sum of on the 1st day of December, 19 , without option of prepayment, and to pay interest thereon from the date hereof until said principal sum be paid at the rate of hundredths percent ( X) per annum. Interest hereon is payable semiannually on June 1 and December 1 in each year, commencing June 1, 1976, in accordance with and upon presentation and surrender of the inter- est coupons hereto appurtenafit. , in , or at the office of such successor paying agent as may be designated by the City Council, under the pro- visions of the resolution authorizing the issuance hereof, in any coin or CUP rency of the United States of America which on the respective dates of payment is legal tender for public and private debts. For the prompt and full payment of such principal and interest as the same become due, the full faith, credit and taxing powers of the City are hereby irrevocably pledged. $3,500,000, all of like date and tenor except as to serial number, interest rate and maturity date, issued to finance the construction of loca1,irnprovements in the City and to pay the principal of and interest on Temporary Improvement Bonds of the City at maturity, and is issued pursuant to and in full conforinity with the provisions of the Constitution and laws of the State of Minnesota thereunto enabling. Redcinption Fund of the City, but the Council is required by law to pay maturing principal thereof and interest thereon out of any funds in the treasury if moneys on hand in said Eedemption Fund are insufficient therefor. FIVE THC"D DOLLARS ' Both principal and interest are payable zt This bond is one of an issue in the aggiegate principal ainount of I . This bond is payable primarily from the Improvement Bond IT IS HERZXY CERTIFIED, RECITED, COVENANTED AM) AGREED, that all acts, conditions and things required by the Constitution and laws %of ths State of. Minne- sota to be done, to exist, to happen and to be performed precedent fIo and in the issuance of this bond in order. to make it a valid and binding general.obligation, of the City according to its terms, have been done, do exist, have lipppened Grid have perfomled as so required, that prior to the issuance hereof the City.has agreed to Ieyy special assessments on property specially Senef ited by local improveme&s, collectible in the years" an6 amovnts required t$ produce sums not less than 5% in excess of the princfpal*cf and iht&ist 03 the bonds of this issue as such principal and interest respectively become due, and has appropri+\ed the same ta said F-edemp- tion Fund; that, if needed to pay such principal and inter+st, ad valorem.taxes are required by law to be levied upon all taxable property in the Cidy wit&out limita- tion as to rate or amount, and that the issuance of this bond did not cause.the indebtedness of said City to exceed any constitutional or statutory limitation. ' IN NITNESS WHEREOF the City of Edina, Hennepin County, Minnesota, by its City Council, has caused this bond to be executed by the printed facsimile signatare of the Mayor, attested by the manual signature of the City Manager, and sealed wit& a facsimile of the official City seal, has caused the interest coupons appur= tenant hereto and the certificate appeariqg on the reverse.side hereof to be executed and authenticated by the facsimile signatures of;'said officers, and has caused this bond to be dated as of December 1, 1975. ATTEST: I .. . (Facsimile Signature) - 'City $Imager . Nayor (Seal) 2.-02 numbersed set of interest- coupons printed in substantially the follot75ng form: Interest on each Bond to maturity shall be represented by a consecutively NO. ,$ Oa the 1st day of June (December) 19-, the City of Edina, Hennepin County, Minnesota, will pay to bearer at , in Y America for interest then due on its Improvement Bond, dated December 1, 1975, Ncl. , the sum shown hereoli in lawful money of the United States of (Facsimile signature) (Facsimile signature) .City Xanager Mayor =. ' 2.03 A certificate in substantially the following form sha-1 be printed on the h-aT-cIy --,,,se side af ex?, 2md fcllowfnn a CODY the text of the lend oDinion to be reniered by bond-counsel:, ~ We certify that the a3ove is a full, true and correct copy of the legal opinion.rendered by bond counsel on.the issue of bonds of the City of Edina, Minneso.ta, which includes the within bond, dated as of the date of delivery of aud papent for the bonds. (Facs5mile signature) (Facsimile signature) I City, Yanager I Mayor L. Section 3. Bond Terms, Execution and Delivery. 3.01 ~f borrowing money to pay the cost of making ?ai&improvemsnts and of paying thq principal spd interest on said Temporary Improvement Bonds at maturity, the City shall forthwith issue and deliver its nqgotiable coupon generql obligation Iinprove- merit:, Bonds ,: payable primarily. from the improvement Bond Redemptbn FuEd rnaintakzd as bereinafter recited, in accdrdance with the contract heretofore made with the purchaser thereof. The Bonds shall be dated as of December 1, 1975, shall be 700 in =umber and numbered serially from 1 to 700, inclusive, each in the denam5naticn af:$5,0,00, shall nature serially on December 1, without option of prior payment, ~IZ the years and amounts set for2h below, and the Bonds of each annual maturiZjj shal1,bear interest from date of issue until paid at the rate per annun shown In anticipation of the coilestion of special assessments and for the purposz ,opposite.the'year of such maturity, as follows: Year . Amount Rate .' 1977 $500,000 ~ 5.30 1- 1978 500,000 5.30 - ** 1979 ' 500,000 ~ -- 5.30 1980- * 500,000 5-50 1981 500,000 . 5.50 .. 1982 500,000 5.50 1983 500,000 5.50 Interest - .T 3.02 Interest shall be payable on June 1, 1976, and semiannually thereafter on Jme 1 and December 1 of each year. The principal of and hterest on the Bonds shall be payable at 3 - . x, in Y , which is designated as paying agent, or in the even: of its resignation, removal or incapability of acting as paying agent, at the office of such successor pzying agqt as may be appoir;,t,ed by the Co2nci.1, and the City agrees to'pay the reasonable charges of the paying agest for this service. Upon merger .or .. .- .t -. 4 5 coriiolidation of the paying agent with another ccrporation, if the resulting . *corpor$tion is a bank or trust company authorized by law to conduct such business, su& corporation. shall be authorized to. act as' successor paying agent. resignation of the paying agent,shall become effective until the date specified in a notice of the appointment which the Council.shd1 cause to be published in a financial nswspaper in a Minnesota city of the first class or its metropblitan area, not'less than thirty day's before said effective date. 3.03 The:Bonds ahall be prepared under the cjire attorney and shall be executed on Sehalf of't'Ee No 1 1. ion of ,the City Clerk and ty by the printed facsimile i. ,. - signature;of the Mayor, attested by the manual signature of the City Manager, and ** seaied with d'facsimilk" ofi'the official corporate seal. each Bond shall be printed a copy of the approving legal opinion rendered by bond counsel and the certificate of the Mayor and Manager relating thereto. certificate as to legal opinion and the interest coupons attached to the Bonds On the reverse side of The - shall be executed and authenticated by the printed, engraved or lithographed ''% facsimile signatures of said Mayor and City Manager.. '$ executed and authenticated, they shall be delivered by the City Treasurer to When the Bonds have been So the purchaser thereof upon payment of the purchase price in accordance with the contract of ssle heretofore made and executed, and said purchaser shall not be obliged to see to the application of the purchase price. $3,500,000 received from the purchaser on delivery of the Bonds shall be deposited in the Improvement Bond Redemption Fund and the remaining proceeds of the Bonds Any amount in excess of ., shall be.applied as provided below. Section 4. Security Provisions. 4.01 1975 Improvement Construction Fund. There is hereby created a' separate fund of the City designated as "1975 Improvement Construceion Fund," which shall be maintained until payment of all costs and expenses incurred in construction and financing the improvements designated in Section 1.01 and 1.02 of the Council resolution adopted on September 15, 1975, auth- lished a separate account for each of the improvements and into each such account shall be paid such amount of the proceeds of the Bonds as may be necessary, with other funds on hand, to pay all costs of the improvement for which the account was established have been paid, all special assessments levied with respect to that improvement for which the account was established. After payment.of all costs in- curred, with respect to each improvement, the account for that improvement shall be discontinued and any bond proceeds remaining therein may be transferred to the account e.E:tah!.izkd for construction of nnv other imnrovement innt-itiiteb GIX-S;;ZZ? to Chapter 429, Ninnesota Statutes. All special.assessments and taxes then on hand in said account or thereafter received, and any bond proceeds not so trans- ferred, shall be transferred to the Improvement Bond Redemption Fund of the City, established by City Ordinance No. 151. 4.02 Improvement Bond Redemption Fund. The Bonds shali be payable from the Improvement Bond Redemption Fmd of .the City, which Fund the City agrees to maintain until all bonds apyable th-erefrom have been paid in full. ' to pay principal and interest due on the Bonds, such amounts shall be pafd from other funds of the City, and such bther funds shall be reimbursed therefor when sufficient money is available in the Improvement Bond Redemption Fund: * orizing the issuance and sale of the Bonds. In said Fund there shall be estab- ., If the money in said Fund should at an37 time 'be insufficient . * .* .* ,**4.03 Assessments. '%The City hereby covenants and agrees that, for the payiknt of the cast of the improvements financed by the issuance of the Bond&, the City has done or will. do and perform all acts and things necessary for thelfinal and valid le-vy of special assessed for each such improvement being not less than 20% of the cost thereof. Said assessments shall be payable in annual instalIments, to be spread upon the tax rolls of the City with other taxes of the City for a period of not-more than consecutive years, starting from time to time at the rate of % per annun. In the event that any such assessment shall be at any time held invalid with respect to any 1at cjrtract of land, due to any error, defect or irregularity in any action or proceedings taken or to be taken by the City or by this Council or by any of the officers or employees of. the City, either in the making of such assess- ment or in the performance of any condition precedent thereto, the City hereby covenants and agrees'that it will forthwith do all such further things and take all such further proceedings as shall be required by law to make such assessment a valid and binding lien upon said property. 4-04 The full faith, credit and taxing powers of the City are hzreby pledged to the payment of the Bonds and the interest thereon. purpose at this time since it is estimated that the collections of all special assessments appropriated to said Improvement Bond RedemptioE Fund and interest thereon, together with the cash on hand in said Fund, will not be less than 5% in excess of the amounts needed to pay all principal and interest when due on a21 bonds payable from said Fund, including the bonds fiferein Authorized. '"assessments in a principal amount notbless than $3,503,580, the aniount ta-be No tax will be levied for this ' I rk 6 Section 5. Certifications of Proceedings; Defeasadce and Arbitraqre. 1 5.01 this resoiution with the County Auditor of Ilecnepin County, together wPth such other infomation as he shall require, and to.obtaSn from said County AuditGr a certificate that the Bonds have been entered on his bond register. 5.04 When all of the Bonds issued pursuant to thls resolution, and all coupcns appertaining thereto, have been daischarged as provided in this section, all pledges, covenants and ocher sigks granted by this resolution to the holders of the Boiids shall cease. any Bonds and Coupons appertaining thereto which are due on any date by deposit- ing with the paying agent or agents for'such bonds on or before that date a sura sufficient for the payment thereof in full; or, if any Bond or coupons should not he paid when due, it may nevertheless be discharged by depositing with the paying agent a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. The City may alp0 at any time discharge its obligations, with respect to any Bonds, subject to the provisions of law now or hereafter axthorizing and regulating such action, by depositing irrevocably rin escrow, vith a bank qualified by law as an escrow agent for this purpose, cash or * Securities which are ger,eral obligations of the United States or securities of United States agencies which are authorized by law to be so deposited, bearing interest payable at such time and at such rates and maturing on such.dates a5 shall be required to pay all principal and interest to become due thereon to matwity, 5.03 The officers of the City Snd'the County Auditor of Eennepin County are hereby authorized and directed to prepare and furaish to the purchaser of the Bonds, and to the attorneys approving the lagality of the issuance thereof, certified copies of all proceedings and records of the City, and such other affidavits, certificates and information as may be required to show the facts relating to the legality and merketability of the Bonds as the same appear from the books ad.records under their custody and control or as otherwise known to them, 2nd all such ccrtified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein, I 5.04 The Mayor. City Xanager and Treasurer, being the officers of the City chrged with the responsibility for issuing the obligations pursuant to this resolution, are authorized arid directed to execute anchdeliver to the purchaser 2 certification in crder-to satzsfy Plie provisions of Section 1,103-13 of .the a.zexicia2~Iricone i'& kegulaticns (26 CFR Part I) published in the Federal Registery Fay 5, 1973. 'Such certification shall state that on the basis of the facts, estimates and circumstances in ekistence on the date of issue and delivery of the Bonds as therein set forth, St is not expected that the proceeds of the Bonds will be used in such a maimer that would cause the Bonds to be arbitrage bonds; and the certification shall further. state that to the best of the bowledge and The ,City Clerk is hereby authorized an6 directed to file a certified copy of The City may discharge its obligations with respect to I . P .F Notion for the adoption of the Qoregoing resolution was duly seconded by Council- miin =chards, and upon vote being taken thereon, there were four ayes, iqith Council- 139~ Shaw abstaining, whereupon said resolution was declared duly passed and .. adopted, End was sigr?ed by the Mayor which was attested by the Clerk. Colincilman Courtney then ihtroduced the following resolution and moved its adoptiorz: RESOLUTION- AUTHORIZING AIk9 ESTABLISHING THE TERMS OF $950,000 GENEFh4L OBLIGATION t. I PARK BONDS, ANI> LEVYING TAXES FOR THE PAmfENT THEREOF BX 1T"RESOLVED"by the 'City Coun,cil of the City" of Edina, tIennep5.n County, Minnesotz, -> ' as follows: Section 4. Authorization and Sale. L 1.01 This Council has heretofore detemined that it is necessary and in the 1. . best interests of the inhabitants of the City to issue and sell $950,000 Generai Obligation Park Bonds of the City (hereinafter the Bonds), for the purpose!of providing $450,000 to acquire open space land within the Fity to be preserved substantially ilz its natural state for recreational use and of providing $500,000 to acquire lands within the City to be developed for local or neighborhood park or payground purposes. The issuance of the Bonds was'approved by a majority of , the voters voting on the questiorrs at an election duly called and held in'the City on September 4, 1975. . I. c *' 1 , (I. 1. 1.02 ImprovemeGt Bonds, $950 , 000 General Obligation Park Bonds and $2,200, q?O ~ , General Obligation Redevelopment Bonds,! adopted on November 3, 1975, this , Goup5.l awarded the sale of the BoLds, together .with two separate issues of bonds"of the City, to the most favorable bidder, after pu6lic sale as required by law. The Bonds shall be issued pursuant to the terms and conditions set forth in this resolution. *r c By its resolutioh entitled "Resdution Awarding .Sale of $3,5cIO,OOO, Section 2. Form of Bonds and Coupons. ,'. 2.01 The Bonds shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF XINNESOTA d.' oc; b w u a i . COUNTY OF HENNEPIN CITY OF EDINA . GENERAL OBLIGATION PARK BOND P- $5,000 , KNOW ALL MEN BY THESE PRESENTS that the City of Edina, Hennepin County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of FIVE THOUSANQ DOLLARS on the 1st day of December, 19 intexest thereon from the date hereof until said principal sum be paid, at the rate o'f- * -per cent ( Z) per annum. Interest hereon is payable on June 1, 1976 and semiannually thereafter on June. 1 and December 1 in each year, interest to rhaturity being represented by and payable in accordance with and upon presentation and surrender of the interest coupons ttbereto attached. Both principal and-interest are payable at the , in successor paying agent as may be designated by the City Couccil, under<the provisions of the resolution authorizing the issuance hereof, in any,coin or currency of the United States .of America which on the respective dates ofs paymenr is legal tender for public and private debts. For the prompt and. full payment of such principal and interest as the same become dqe, _the full faith, credit and taxing powers of the City are hereby irrevocably pledged. This bond is one of an issue of $950,000 aggregate principal amount, all of like date and tenor except as to serial number, qaturity date% and inter- , without option of prepayment, and to "pay 3 , or at the office of "such est rate, issued by the City for the purpos'e of acquiring certain park lands the electors of the City voting at an election duly called and-held in and fbr the City, and pursuant to resolutions duly adopted by the City Council and pursuantIto and in full conformity with thekConstitution and laws of the State of Minnesota thereunto enabling, IT IS HEREBY CERTIFIED AI RECITED that all acts, conditions and ,things required by the Constitution and laws of the State 02 Nimesota to be done, to exist,'to happen and to be performed precedent to and in the issuance of this bond have been done, do exist, have happened and have been performed in regular and due form, time and manner as so required; that prior to the issuance hereof, a direct, a&ual, irrepealable, ad valorem tax ha's been duly levied upon all of the taxable property in the City for the years and .in amounts at least 5% in excess of sums sufficient to pay the interest hereon and the principal hereof as they respective19 become due, and additional _# .. .. ____ ---jt =:,d 12 ..zz.L31 -^-I- &*---2 --I- L.+..-Y-'c. ...-iJYAA.;J4 -:z:z 2: I *I I --------- L 4- LL- ---- ---'-.:L- i.&tl..<-. *-La. PJcrr , 1 I staxes, if needed, will be levied upon all of such property without limitation *-Z\ :as to rate or amount; and that this bond, togetherowith all other indebted- ness of the City outstanding on the date hereof-and on the date of its, actual issuance and delivery, does not exceed any constitutional or statutory ;' limitations of indebtedness. ' City Council, has caused this bond to be executed in its behalf by the. printed facsimile signature of the Mayor, attested by the manual signature of the City Manager, and sealed with a facsimile of the official seal, has r~w+ caused the. attached interest coupons and the certificate on the reverse side hereof to be executed and authenticated by the facsimile signatures of.said . officers, and has caused this bond to be dated as of pecember 1, 1975. , e%?< IN WITNESS WHEREOF; the City of Edina, Hennepin County, Minnesota, by its ,. ' .r ' (Facsimile Signature) ATTEST: Mayor -. I' I City Manager 1. i (Seal-) .. ., ' I. .* r . I 2.02 ly numbered set of interest coupons, attached to the Bonds, in substantially Interest to maturity on the Bonds shall be represented by a consecutive- I ' the following form:, $ On the lst'day of June (December, 19 the City of Edina, Eennepin I t -in ** ] County, Minxesota, will pay to bearei at lawfill money O? the United States of -4m6rica gor interest then due oil its General Obligation Park Bond, dated December 1, 1975, No. . z 8 , the sum shom hereon in.. _. * (Facsimile signature) -(Facsimile signature) CCty Hanager Nay or 2.03 The following certi$icate 'Sh.alk be printed on the revefse side of' each Bond, -immediately following a copy of. the text of the*legal opinion to be rendered by bond counsel: We certify that the above is a full, true, and correct copy of the''. iegal opinion rexdered by bond counsel on the issrte of bonds of the City of * Edina, Ifinnesotta, which includes the within bond, dated as of the date of delivery of and payment for the bonds. - ' I (Facsimile signature) Facsimile signature) City Hanager Mayor Section 3, Bond Terms, Execution and Delivery. 3.01 Park Bonds in the aggregate ;principal amount of $950,000, all dated December 1,,1975, the Bonds tc be 190 in number and numbered 1 through 190, each in the denomination of $5,000. The Bonds shall mature serially, in inverse order of serial numbers, on December 1, without option of prior payment, ir, the amounts shown below opposite the respective stated maturity years, and Bonds maturing in each year shall bear interest at the rate per annum shown opposite such y&ar of inaturity as follows: The City shall forthwith issue its negotiable coupon General Obligation 3kturity Yea; e Principal Amount $200,000 Y 250,000 1980 - 250 $000 1977 ' 1978 m ? 1979 250,000 3.02 'Interest on the Bonds shall be payable on June 1, 1976, and se!mi&mually thereafter on June 1 and December 1 of each year. The 'principal of and inter- est on the Bonds shall be payable at , in s or'in the event of its resignation, removal or incap- ability of actkng as paying agenc, at the office of such successor paying agent ss may be appointed by the Council, and the City agrees to pay the +zsonab"le chzrges c: t%e pF-;ing agent for thjs seHice. cm~ol5dation of tke payisg ageat with azother corporatim , if the resulting corporation is a'bank or trust company arzthorized by law to conduct such business, such corporation shall be authorT5ed' to act as successor paying agent. resignatior: df tSe paying agent'shall become effective until the date speci- fied'h a notwe of the appointment which the Council shall cause to be published in a"financia1 newspape; in a Minnesota city of the first class or its metropolit5n area, no2 less than thirty days before said effective datel 3.03 .attorney, and when so prepared shall be executed in behalf of the City by 'the biirrted fqcsimile sigaature df ' the Mayor attested by the manual signature of the Ci%y lfaqag&; and sealed with 'a facsimile of the official corporate seal. On the revirse side of each Bond shall he prixked a copy of the approving legal opinion rendered by bond counsel and the certificate of the Mayor and Hanager opinion shall be executed and authenticated by the printed, engraved or litho- graphed facs5mile signatures of the Mayor and City Manager, been so executed and authenticated, they shall be delivered by the City Treasurer to the purchaser on receipt of the purchase price in accordance with the contrzic2 02 sale heretofore made and executed, and said purchaser shall not be requlred to see to the.application thereof. Section 4. Tax Levies. 4-01 Forrthe prompt and full payment of the principal and interest on the Bonds as the same respectively become due, the full faith, credit azld taxing powers of The City shall be and are hereby irrevocably pledged. To provide moneys for the payment there&, there ishereby levied upon all-of the taxable property in the , City, a.direct, annual, ad valorem tax whkh shall be spread upon the tax rolls collectible in the years"and ia amounts'as follows, together with 2nd as a +part OE other general. taxes of the City: I Upon merger or '- No a ,* The Bonds shall be prepared' &der the directiion of the City Clerk and - relating thereto. The interest coupons and the certificate as to legal * SJhen the Bonds have \ - I Collectibn Year 1976 ,* .. Amount. -'c $250,000. . 250,000 I .I 250,000 1980 " I y 250,000 1977 1979 250 009 * 1978 -1. Said tax shall be irrepealable as long as the Bortds 2re outstanding and unpaid; provided, that the-City reserves the right and power to reduce the levies Zn the manner and to the extent perflzitted by Efinnesota Statutes, Section 475.61. ~ .. 9 b c9 W a 4.02 ,The proceeds cf. the tax levied 'in Section $.Or herein shall heapaid into the General Obligation Bond Redemption Fund, established by Citi, Ordiaance No. I52 and expended therefrom in accordance with .said ' Ordinance. interest .thereon ahalldbe paid from the t=y$ral Obligation Bond Redemppipn Fund , qecured by all of the co-i~&n&;s contained in' said Ordinance. Section 5. Certifications of Proceedings, Defeasance and Arbitrage. The iond's and 8. * . I. 'F . 5.01 When a11 of the Bonds aid all coupons appertaining thereto have been discharged as provid'ed in this section, all pledges, covenants and other rights granted by this resolution,to the holders of the'Bonds shall cease. may discharge its obligations with respect to any Bonds and coupons appertaining thereto which are due on any date by depositing with the paying agent on or beforesthat date a sum sufficient for the payqent thereof in full; or, if any Bond or coupon should not be paid when due, ic my nevertheless be discliaGged by depositing with the paying agent a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. The City may also'at any time discharge its obligations with respect ot any Bonds, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a'bank qualified by law as an escrQw agent for this purpose, cash or securities which are general obligations of the United States or securities of United States agencies which are authorized by law to be so deposited, bearing interest payable at such tines and at such rates and.maturing on such dates as shall be required to pay all principal, interest and redemption premiums to become due thereon to maturity. 5.02 The City Clerk is hereby authorized and directed to file with the County Auditor of Hennepin County, a certified copy of this'resolution, together with ' such other information as the County Auditor may requi-red, and to obtain from said County Auditor a certificate that the tax required by law for the payment of the Bonds has been,levied, and that the Bonds have been entered upon his bond register. 5.03 hereby authorized and directed to prepare and fiirnish to the pruchaser of the Bonds,. and to the attorneys approving the legality of the issuande therkof, certified copies of all proceedings and records,of the City relating to the Bonds and to the financia1,condition and affairs of the City, and such other affidavits, certificates and information as may 3e required to show the facts relating to the legality and marketability of ,the Bonds as, tfie same appear from the books and records under their certified copies, certificates and affi'havits, ~A~~~uu~i~~ ariy .-~3foie: LuLuibiicu, si&i Le ciermeu reprri+nra+io_n:s' or me t~rp I as to the facts recited therein. The Mayor, City Manager and City Treasurer, being the officers+ of the City charged with the responsibility for issuing the" obligations pursuant to this resolution, are authorized and directed to execute and deliver to the purchaser a certification in order to satisfy the provisions of Section 1.103"-13 of the amended Income' Tax Regulations (26 CFR Part I) published in the Federal*Register Msy 5*+ 1973. estinates and circumstances in existknce on $he date .of issue and delivery of ~ the Bonds-as therein set forth, it is not expgcted that the proceeds of the Bonds will be used in such a manner .that would cause' the Bonds to be arbitrage t?pnds, and th6 certification shall further state that to the besf of the kniw4ed.ge and belief. of 'the certifying officers there stanc& that would materially change SUC The City The officers of the City and the County Auditor of Hennepin County are -- - -1 I I -.. w ' 5'04 Such certification shall state khat on the basis of'"t$e facts', .ATTEST a. $, xldufLuf ,* \1* P City Clerk, Hotion for the adoption of the foregoing resolution was ssconded by Councilman Richards and upon vote being taken thereon there were four ayes, with Councilman Shaw abstaining, whereupon szid resolution was declared duly passed and ad-opted, and signed by the Mayorj which was attested by.the Clerk. c ; J L, Councilman Courtney then introduced the following resolution and moved its b adoption: a. P3SOLUTION AUTHORIZING AND ESTA3LISHING I- r. * :: THE TERMS OF $2,200,000 GENERAL OBLIGATION REDEVELOPMENT BONDS AND LEVYING TAXES FOR PAYMENT.THEREOF BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows: . Section 1. Authorization and Sale.. 1.01 The City has determined by a resolution of the City Council, adopted September 15, 1975, to' issue and s&ll $2,200,000 Gehcral Obligation Redevelopment Bonds of the City (hereinafteE the Bonds), for payment of which the Housing and Redevelopment Authority of tWe' City has agreed to segregate and to pledge and appropriate the tax increments resulting from redevelopment of a Project Area, designated as the "50th and France Cmnmsrcial Area,?: as certified-by the County 10 Auditor of Iilinnepin County from year to year, pursuant: to Elinnesota Statutes, Section 462.585. 1.92 By its resolution entitled "Reso1utio.n Awarding Sale of $3,500,000 finprove- inent Bonds, '$950,00!? General Obligation Park Bonds arid $2,200,000 General Obliga- tion Redevelopment Bonds," adopted November 3, 1975, this Council axarded the sale of the Bonds, together with two separate issues of bonds of the City, to the most favorable bidder, after public sale as required by law. issued-pursuant .to the terns and conditions set forth in this resolution. 2.01 ,a The Bonds shall be ' Section 2. Form of Bonds and Coupons. The'Bonds shall be in substantially the foliowing form: UNITED STATES OF AMERICA STATE OF IiINNESOTA COUNTY OF HSNNEPIN CITY OF EDINA GENERAL CSLIGATION REDEVELOPMENT BOND ~ :r NO. $5,000 KXOW ALL MEN BY THESE PRESENTS chat the City of Edina, Hennepin County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of + ' FIVE THOUSAND DOLLARS I interest thereon from the date hereof until said principal sum be paid, at the rate of . percent ( X) per annum. Interest hereon is payable June I, 1976, and semiannually thereafter on June I agd December 1 in each year,7interest to maturity being payable in accordance with and upon presentatios and surrender of the interest coupons appurtenant hereto. principal and interest are* payable at , in ,'or at the office of such successor psying agent as may be designated by the City Council, under the provisions of the resolution auth- orizing the issuance hereof, in any coin or currency of the United States of America which on the resgective dates of payment is legal tender for public and private deqts. the same become due the full faith, credit and taxing powers of the City are hereby irrevocably pledged. This bond is one of an issue of bonds in the aggregate principa; amount of $2,~00,000, all of like date and tenor except as to seriaLnumber, maturity date, a'nd interest x+e, iswed py the City for the purpose of providing money; izaid qf a r&&vdopmenZ project designate6 as the 50th and Frace Ccnmercial Area, in anticipation of the collection of the tax increment resulting from the redevelopmezzt,o€ the project area, as certified annually by the County Auditor of Eennepim County, pursuant to Minnesota Statutes, Section 462.585; and is issue4 pursuant to resolutions duly gdopted by the City Coumil and pursuant to ad in full conformity Nth the provisions of the Constitution and laws of the S+ate of Minnesota,including Minnesota Statutes, Sections 462.581 and 462,585 asd Chapter 475. i requiredYby the Constittation and laws of the State of Minnesota to exist, to happen anh to be performed precedent to and in the issuance of this bond in *order to make it a valid and bizlding geDeral obligation of the City according to Lts terms'do sist, have happened and have been performed in regular and due form,r time and-maFner;. that all taz;able property within the City is subject to ehe lee of a dirPct,mwuzl, ac!,walorem tax, which has been levied and is required to be extended, assessed and- collected for the years and in such amounts as may be,required, to pay the principal of and interest on the bonds of this i&ue.when due, which levy tis not limited as to rate or amount; and that the issuance of this bond doesinot cause the'indebtedness of the City to exceed any applicable constitutLona1 stautory limitation. Ciky Cduncil,r,has caased this bond and the interest coupons appurtenant hereto and th6,certificate on the reverse side hereof to be executed and authenticated by the bignatures of the Mayor and City Manager, and its corporate seal to be affixed hereko, $11 such signatures and'.the seal being authentic printed, engraved or lithographed facsimiles except for the manual signature of the City Manager on the fact of this bond, and has dated this bond as of December 1, 1975. ,on the 1st day of December, 19 , without option of prepayment and to pay Both For the prompt and full payment of such principal and "interest a% IT IS HEREEY CERTIFIED AN4 RECXTED that all acts conditions and things 3 %- IN WITXESS WHEREOF the City of Edina, Hennepin County, Minnesota, by its (Facsimile signature) Hayor ATTEST: * ,. C' - City' Hanager 9 (SEAL) 2.02 tively numbered coGpons attached hereto, in substantially the following form: Interest to the maturity date of each Bond shall be reprekentcd by consecu- 41/3/75 , No. $* Minnesota, will pay to bearer at Y in On the first day of June (December), 19 , the City of Edina, Sennepin County, I ¶ , the amount shown hereon in lawful money of the United States of America for the installment of interest then due on its Gener'al Obliga- tion Redevelopment Bond, dated December 1, 1975, No. (Fabsimile signature) (Facsimile .signature) - City Manager Mayor 2.03 reverse side of each Bond, fol>owing a copy of the text of the legal opinion to be rendered by bond counsel: We certify that the above is a full, true and correct copy of the legal opinion rendered by bond counsel on the issue of bonds of the City of Edina, which includes the within bond, dated as of the date of delivery of and payment for the bonds, A certificate in substantially the following form shall be printed on the (Facsimile signature) (Facsimile signature) City Manager Mayor Section 3. Terms, Execution and Delivery. 3.01 December 1, 1975, in the aggregate principal amount of $2,200,000, shall be 450 in number and numbered from 1 to 450, inclusive, each in the denomination of $5,000, shall mature in order of serial numbers on December I, without optionqof prior payment, in the following respective years and amounts, and shall bear interest at the respective annual rates indicated opposite their maturity years: Interest Interest Year Amount Rate Year Amount 1978 $ 50,000 5.30 1986 $100,000 5.90 200 Jooo '6.00 200; 000 6.10 200,000 6.20 100 , 000 6.30 100,000 6.40 250 , 000 .6.50 250 , 000 '6.50 The Bonds shall-be designated as General Obligation Redevelopment Bonds, dated Rate --- 1979 1980 1981 1982 1983 ?*- 1984 1985 3.02 50 , 000 5.30 50,000 5.50 50 , 000 5.50 100 , 000 5.50 100,000 5.50 100,000 5.60 100 , 000 5.75 The interest on the Bonds sha 1987 1988 1989 1990 1991 1992 1993 I be payable thereafter on June 1 and December 1 in each year. ine 1, 1976, and-semiannually Both principal. and interest shall be' payable at , in Y Y which is desigrdted a.p paying agent, or in tlw event qf its resignation, :removal or inczpzibility of aceing as paying agent as may be appointed-by the Council, and the City agrees to pay the reasonable and customary charges of the paying agent for this service. Upon merger or consoli- dation of the paying agent with another corporation, if the resulting corporation is a bank or trust company authorized by law to conduct such business, such corporation shall be authorized to act as. successor paying agent. No resignation of the paying agent and no appointment of a successor paying agerit: shall become effective until the date specified in a notice of the appointment which the Council shall cause to be published in a financial newspaper in a Minnesota city of the first ciass or its metropolitan area, not less than thirty days before,said effective date, 3 '3-03 or' each Bond shall be executed and authenticated in behalf of the City' by the signatures of the Mayor and City Manager, and the corporate seal of the City shall be affixed to each Bond. *lithographed facsimiles except for the manual signatiire of the City Manager on the face of each Bond. The Bonds shall then be delivered by the City Treasurer to the purchasers on receipt of the.purchase price in accoraance with the contract 05 sale heretofore made and executed. application of the proceeds of the Bonds. All proceeds shall be credited to a special construction account on the official books and records of the City and disbursed solely in payment of valid claims duly allowed by the Council for capital expenditures included in the public redevelopnent cost of the redevelop- ment project financed by the Bonds. * agent, at the office of such s;lccessor+payi-ag c I 4# The Bonds and the ir,terest coupons and the ceriLficate on Phe reverse side All signatures and the seal. shall be printed, engraved or The purchaser shall not be required to see to the -- Section 4. Sinking Fund, Tax Levies and Tax Increments. 4. 4.01 shall maintain a sinking fund as a separate and special bookkeeping account on the official books and records of the City, to be used for no purpose other than the payment of the principal of and interest on the Bonds and such other general obligation bonds of the City, if any, as may be issued for the payment of the public redevelopment cost of the project area 3inanced by the Bonds. the balance in the sinking fund is ever insufficient to pay all principal and interest then due on such bonds, the Treasurer shall nevertheless provide suffi- cient money-from any other funds of the City which are available for that purpose, So long as any of the Bonds are outstanding and unpaid, the Ciky Treasurer If ' and such other funds shall be reimbursed from the proceeds of the taxes levied : * li" 11/3/75 j for the sinking fund. money which may at any time be received or appropriated to the payment of such Bands and kterest, including the tases levied by this resolution and the tax increments'herein pledged, and the accrued interest and any amount in excess of $2,200,000 bid for the Bonds as determined by the City Treasurer and received froin the purchaser upon delivery of the Bonds. 4.02 The full faith and credit and taxing powers of the City are irrevocably pledged for the prompt and full payment of the principal of and interest on the bonds and on all other bonds made payable from the sinking fund, as such principal and interest respectively become due. A direct, annual, ad valorem tax is hereby levied upon all taxable property within the corporate limits of the City to be levied upon all taxable property within the corporate limits of the City to be spread upon the tax rolls prepared in each of the following years and collected in each of the respective ensuing years, in the following respective amounts: The City Treasurer shal.1 deposit in the sinking fund all " I Amount 1976 $; 140 , 300 1977. 140 , 300 1978 192,800 1979 190,800 ' 1980 187 , 200 198 1 184 , 300 1982 233 , 900 1983 228 , 200 1984 222,400 1985 216,500 1986 210,500 1987 309 , 300 1988 296,700 1989 283 , 900 1990 270,800 199 1 257,600 1992 296,700 1993 279 , 600 This tax shall be irrevocable, except that the right is 'reserved to reduce each annual levy in the manner and to the extent provided in Section 4.03. 4.03 The County Auditor has certified that the original taxable value of real property within the project area, as most recently determined according to the ----------& -- -L T --__-- 3 ~c.71, :- e3 cinq 71.1. ';=der _-----__..-I ,z u:--..-.- ------I--- -- -- --.-I-, -.. --. . -- l-,---). . .- --&- p - - - -- ----- - - ___d sota Statutes, section 462: 585, Subdivision 3, the" County Auditor will include only the original taxable value in the assessed valuation upon which he computes the rate of all state, county, city school district and other taxes, but will extend the 1 rates so determined against the entire assessed valuation of such real property in 1975 and each subsequent year, and the County Treasurer will remit to the Housing aid Redevelopinent Authority of the City of Edina that proportion of the tases paid each year on such real property which the excess of the assessed valuation over the original taxable value gears to such original value. The Authority has agreed to segregate the tax increments so received until the public redevelopment cost of. the project, including interest, has been paid on the Bonds from the city-wide taxes herein levied, and has pledged and appropriated the tax increments to the sinking fund for the payment of such principal and interest and the reduction, cacellation and reimbursement of such taxes. In accordance with the provisiondl 05 Minnesota Statutes, Section 475.61, the City Treasurer shall certify annually to the County Auditor of Hennepin County the amount of tax increments and any other funds appropriated to and then held in the sinking fund, and shall request the Hennepin County Auditor to reduce by the amount to be certified, and if POS-L-.---* sible to cancel the amount of the tax levy otherwise to be included in the tax rolls- nexc thereafter prepared. 5.01 County a certified copy of this resolution, and such other information as the County Auditor may require, and to obtain from the County Auditor a certificate stat2'ng that 'the tax required-by -1aw.for the payment of the Bonds has been duly levied and that the Bonds have been entered upon his bond register. 5.02 ected to prepare and furnish to the purchasers of the Bonds, and to bond counsel, certified copies of all prockedings and records of the City relating to the auth- orization and issuance of the Bonds and such other affidavits and certificates as may reasonably be required-to show the facts relating to the legality and market- ability of the Bonds as such facts appear from the dfficers' copies, certificates and affidavits, including any heretofore furnished, constitute representations or' the City as to the co<rectness of the facts recited therein and the actions stated therein to have been taken. 5.03 when all of the Bonds issued and all cou?ons appertaining thereto, have been discharged as provided in this section, all pledges, covenants and other rights granted by this resolution to'the holders of the Bonds shall cease. Collection Year -_-- ms '- .* - - --+ .. - Section 5. Certifications of Proceedings, Defeasance and Arbitrage. The City Clerk is directed to file with the County Auditor of Hennepin I The officers of the City and the County Auditor are authorized and dir- - The City may . :.. -. , . . .- . * ..* .. I dlscharge its obligations with respect to any Bonds and coupons appertalning thereto which are due on any date by depositing with the paying agent on or before that date a sum suEficient for the payment thereof in full; or if any bond or coupon should not be paid. when due, it may nevertheless be didcharged by depositing with the paying agent a sum sufficient for with interest accrued to the date of such deposit. time discharge its obligations with respect to any Bonds, subj'ect to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a bank qualified by law as an escrow agent for this purpose, cash or securities which are general obligations of the United States or securities of United States agencies which are authorized by law to be so deposited, bearing interest payable at such time and at such rates and maturing on such dates as shall be required to pay all principal and interest to become due thereon to maturity. 5.04 The Mayor, City Manager and Treasurer, being the officers of the City charged with the responsibility for issuing the obligations pursuant to this resolution, are authorized.and directed to execute and deliver to the purchaser a - certification in order to satisfy the provisions of Sectlion 1.103-13 of the amended Incorre Tax Regulations (26 CFR Part I) published in the Federal Register, May 5, 1973. and circumstances in existence on the date of issue and delivery of the Bonds as therein set forth, it is not expected that the proceeds of the Bonds will be used in such a manner that would cause the Bonds to be arbitrage bonds, and the certifica- tion shall further state that to the best of the knowledge and belief of the certify- ing officers there are no other facts, estimates*,or circumstances that would materially change such expectation. the payment thereof in full The City may also at any Such certification shall state that on the basis of the facts, estimates ATTEST: . Elotion for adoption of the foregoing resolution was duly seconded by Councilman Richards, and upon vote being taken thereon there were four ayes with Councilman Shaw abstaining, whereupon said.resolution was duly passed and adopted and was approved by the Nayor and attested by the City Clerk. c ORDINANCE NO. 311-A68 GRANTED SECOND READING. Mr. Luce presente6'Ordinance Eo. 811-A68 for Second Reading so that the Roushar Square property, developed by Mr. Darrel A. Farr and generally located East of County<Iioad 18, North of Edina West Condominiums and South of Fabri Tek could revert back to R-1 Residential District .from PRD-3 Planned Residential District zoning. offered the following ordinance for Second Reading and moved its adoptiqn: Councilman Courtney thereupon I ORDINANCE NO. 81 1-A6S I BY REZONING PROPERTY TO IC-1 RESIDENTIAL DISTRICT AN ORDINANCE AMEXDING THE ZONING ORDINANCE (NO. 811) FRON PRD-3 PLANNED RESIDENTIAL 'DISTRICT THE CITY OF EDINA, IINNESOTA, ORDAINS: Section 1. Sec. 2. There is hereby added to the Single family District (R-1) , created That part of the SW Quarter of Section 31, Township 117, Range 21, described as beginning at a point on the West line of said Section 1589.04 feet North of the Southwest cornef of said Southwest Quarter; thence East to a point 1629.21 feet North of the South line of said section as -measured along a .line drawn parallel to the East line of said Southwest Quarter of Section 31 from a point on the North line of said Southwest Quarter 990'feet West o€ the Northeast corner of said Southwest Quarter, the said South line"of said section being a straight line between the Southwest corner and the South Quarter corner of said Section 31; thence Sputh along said parallel line ._ . 536.43 feet, more or less, to a point in said parallel line distant 1086.14 feet North of the South line of said Southwest Quarter, said South line being a straight line between the closing corner for the Northwest corner of Section 6, Township 116, Range 21, and the South Quarter corner of said Section 31; thence West to a point on the West line of said Southwest Quarter distant 1059.36 feet North of the Southwest corner of said Southwest Quarter; thence North along said West line 529.68 feet to the point of beginning; except that part, of the above described tract lying Westerly of a line parallel with and 40 feet Easterly of,the following described line: Commencing at the closing corner for the Northwest corner of Section 6, Township 116, Range 21; thence South 87' 24'. 01" East (assuming the West line 02 the Northwest quarter of said Section 6 as bearing North 4 West) a distance 9f 693.43 feet; thence Worth 46' 21' 27" West a distance of Ordinance No. 811-A35 adding certain property td the Planned Residential District (PRD-3) is hereby repealed in its entirety. by Paragraph 1 of Section 3 of Ordinance 811, the following: 0 19' 05" a4 11/3/75 I 854,235 feet to the actual point of beginning of. the line to 5e described; then& North 21 tangential-curve to the right with a radius of 1819.86 fe6tand a central angle of 1%' 16' 40" a distance of 5'17.02 feet; thence Northerly, tangent to the aboGe described curve, a aistance of 200 feet and there terminat-ing, according to the Government Survey thereof. Sec. 3. and publicatXon. Notion for adoption of the ordinance was seconded 517 Councilman S'naiVT and on roll- call there were five ayes and no nays and the ordinance was adopted. . T.H. 100 ACCESS AT BENTON AVEWE REQUESTED BY EDISA EAST STAFF. tion was called to a petition signed by a large number of Edina East staff members requesting access from T.H. 100 and expressing hope that the State Yighway Depart- ment will construct addttional ramps for egress and ingress from T.H. 100 on to Benton Avenue. and carried, that the petition be transmitted to the Metropolitan Council. 0 55' 41'' WesC a distaace of 617.2 feet; thence along a This ordinance shall be in full force and effect upon its passage Council's atten- Councilman Richards' motion was then seconded by Councilman Shaw CALVIN CBRISTIAN SCHOOL. ~BJECTIONS TO MORNINGSIDE AREA IMPROTEXERTS NOTED. Council's attention was called to a letter from Mr. Phillip Hop of Calvin Christian School asking that Inglewood Avenue be exempted from the :;ratermaia, street improvement, curb and gutter and sidewalk and requesting that special corsideration be given them in regard to any storm sewer assessment. ordered placed on file until the >forningside Area improvement hearings. LlWf LANE/MAVELLE DRIVE TlZAlj'FIC CONGESTION REFEEXED TO TSAFFIC SAFETY COI€%ITTEEL Council's attentioxf.was called to a letter signed by owners of five residences of the 7000 block'of Z*iisr La&,, protest5ng that a recent study indicated an increased traffic volume on their street, accompanied by increased noise pollution, increased szfety hazards and iricreased litter. Mr. Glenn Omestad, 7016 Lynmar Lane, objected. that there are now 1,000 cars per day on theis residential street. Councihoman Schmidt's motion was seconded by Councilman Courtney and carried, referring the mtter'to the Traffic Safety Committee for its meeting of November 13, 1975, and suggesting that affected residents make every effort to attend the meeting. The letter was R ti. 6573 STREET VACATION HEARiNG DATE SET. Courtney offered the fol Lowing resolution and moved its adoption: As recommended by Nr. Dunn, Gouncflnizit- " R%SOLlilISB CALLING FUBLIC IiEARING OX S'L'REEi 'VACATION OF w A PORTION OF WSST 65TH STREET BE IT PSSOLVED by the City Council of the City of Edina, Hemepin County, Minnesota, 8s follows: I.. It is hereb+ found and determined after receipt of the petition of a majority of the owners.of land abutting thereon that the following described street should be considered- for vacation, in accordance with the provisions of Xinnesota Statutes Sections 4'12.851 and 160.29: West 65th Street lying between the West side of Rolf Avenue and the West side. of Tingdale, Avenue .* 2; included in paragraph 3 hereof for the purpose of holding L public heariog OIL . tihether such vacation shall be made in the interest of the public. 3. The Clerk,is authorized and directed to cause notice of the time, place an5 purpose of said hearipg to 3e published once a week for two weeks, in the Edinz Sun, being the official newspaper of the City, the first pubiication at least LA days prior to the date of sdch hearing and to post such notice, at least 14 days prior to the date 04 such hearing, in at least three (3) public and eon- spicnous,places -within the,City, as provided in Kknesota Statutes, SecZion 412,851- Such,notice shall be in substantially the following form: This Counc&l shall meet at the time and place specified in the form of no~ics - (Official Publication) CITY OP EDIM 4801 W. 50TH STRZET EDINA, IIINNESOTA 55424 5; NOTJCE OF PUELIC HEXXING OF P I I STREET VACATION IN THE CITY OF EDINA . HENEEPIN COT.??iTY, MINNESOTA WEST 65TH STREET BETlJEZN WEST SIDE OF ROLF AVENUE AND S-.%ST SIDE OF TIMGD-ALE AVENUE NOTICE IS HEXEEY GIVEN chat the City Cotmcil of the Ciq of Edina, Eennepin Cour_ty, Xhnesota, will meet at the Edha City Hall, 4801 I?. 50th Street, on December 1, i9i5, at 7:OG ci'clock p.m., for: the, purpose ef holding a ptiblic hearing on the proposed vacatior, of the followhg descrj.bsd street: West 65th Street lying between the Vest side of Rolf Avenue and the West side dE Tingdale Avenue .. . - .. "f I. i All persons who desire to be heard with respect to,the question of whether or not the above street vacation is in the public interest and should be made shall be heard at. said time and place. The Council shall consider the extent of which such proposed vacatfon affects existing easements within the area of the proposed corporation, or municipality owning or controlling electric or feiephone poles and lines, gas and sewer lines, or water pipes, mains and hydrants on or.under the area of the proposed vacations, to continue maintaining the same or to enter upor, such street or alley or portion thereof vacated to maintain, repair, replace, remove, or othervise attend thereto, for the purpose of specifying, in any such vacation resolution, the extent to which any or all. of any such easements,. and such authority to maintain, and to enter upon the area of the proposed vacation, shall continue. BY ORDER OF TEE EDINA CITY'COUNCIL. Florence B. Hallberg City Clerk Notion for adoption of the resolution was seconded by Councilwoman Schmidt and on rolicall there were five*ayes and no nays and the resolution was adopted. 1'ETITIONS RECEIVED. Notion of Councilman Courtney was seconded by Councilman Shaw and carried, accepting the following petitions and referring them to the Engineering Department: 1. Arbour Avenue - street lights 6. 2. Whiteman Addition - watermain, sanitary sewer, storm sewer, grading and graveling and permanent street surfacing and curb Slake Road - sanitary sewer 3. WESTERN EDINA PTAN AMENDMENT FOR ROLTSHAR SQEARE HEARING DATE SET. carried, setting hearing date for November 17,' 1975-, for the Western Edina Plan As recornended +by Mr. Luce, Councilman Courtney's motion,was seconqed by Comcifman Shaw and ' Amendment for Roushar Square. SOTH STREET LIQUOR STORE LOCATION DISCUSSED. no recornendations to make on the relocation of the 50th Street Liquor Store Mr. Hyde advised that he will have until firm costs are available. MORNINGSIDE IMPROVEMENT HEARINGS CANCELLED. Being advised by Mr. Hyde that he has not been able to locate any supplemental fund5nE for the Morningside area Limprove- ments, Councilman Cobrtney's motion cancel1:ag iiie hearings for 9:vemDer ir, 1~12, wa.s seconded by Councilman Shaw and carried. POLICE CONTRACT APPROVED. 'has still not signed a contract, but that there is substantial agreement and any changes would be minimal. seconded by Councilinan Courtney and on rollcall there were five ayes and no nays and the notion carried. - --. .. MI-. Hjrde advised Council that the Police Department As recommended by Mr. Hyde, Councilman Shaw's motion 3 *-ratifying the 1975 Police Department contract with the Teamster's Union+ was ?VOLUNTEER TKANSPORTATION PLAE CONTINUED TO NOVEMBER 17, ,1975. Mrs. Marsha Nohr of the Edinz Park Department reviewed plans for volur2eers to furnish transports- tiori for senior citizens. Citizens' Comnunity Center in the Yorktown Continental Apartments and said that there should be little or no funding necessary by the City. The'churches, Mrs. Jaycees and the Rotarians would cooperate in driving. . CouIt,ciZa!an Richards urged that provisions also be m&de in this program for transportation of the handicapped. Hrs. Mohr said that there is,no way to get handicapped persons in and out of csrs and that this would necessitate the purchase of a special van with a ramp. Follow- ing some discussion, Councilman Courtney's notion that the Council approve the project in concept with the understanding that no activities be started until the matter of insurance is sorttled and that the Mayor appoint ar, Advisory Com- mittee, was seconded by Councilwoman Schmidt and carried, with Councilman Richards voting "Nay". of a transportation program for the handicapped. She requested permission to use offices in the Senior Mrs. Mohr said that she would continue to check into the possibility 1975 SALARY RESOLUTION AEBNDED. As recornended by Mr. Hyde, Councflman Richards offered the following resolution and moved its adoption: BE IT PSSOLVED that the Resolution Establishing Schedule of Maximum Salaries and Wages for 1975 adopted on December 16, 1974, be 'hereby anended as to the salary for Engineering: Aide I as followi: RESOLUTION PlJBLIC~I~~ORKS MjD ENGINEERING -- 197 5 Established 1975 Proposed Bi-Weekly $394 Engineering Aide I BI-Weekly $374 Hotion for adoption of the resolution was seconded by Coumilwoman Schmidt and on rollcall there were five ayes and no nays and the resolution was adopted. -: 1- g; ELECTION LEGISLATION DISCUSSED. The City Clerk advised that zihe Minnesota State Legislature has cut any and all Ends from the Secretary of State's Budgftt so *L that inunicipallties and counties will no longer be reimbursed for any of thefi: election expenses incurred as a result of the 1973 legislation. The Clerk als&'- reported that the Uniform Election Day Law (House File 700) which would call for' all municipalities to hold their elections in odd numbered years is virtually assured of passage. on Uniform Election Day has about 50% of the support it needs to pass. The * Clerk szid that passage of this legislation would cause a hardship administrai3xelg and at the polls on Election Day for municipalities such as EdiEa where school districts are not coterminous with the inunicipal boundaries and added that this legislation is opposed by most school districts. Discussion ensued as to tfic<. merits of the Uniform Election Day Law, with Councilman ShEw saying that he believe that local elections tend to be lost whm held with state and national electioas. Councilman Courtney said thkt he favored holding City elections, aloag with School District elections at the same time because the cost of holding electioEs would be reduced. adoption : BZ IT RESOLVED that the Edina City Council reaffirm its position favoring ho2cXEg City Elections in the odd years and supporting legislation whereby School District Elections would be held at the same time as City Elections. Motion fcr adoption of the resolution was seconded by Councilman R53ierds and ou rollcall there were four- ayes with Councilman Shaw voting "May" and the resolution i, was adopted. FABCOW, INCORPORATETI, SUIT REFERRED TO CITY ATTORNEY. Council's attention ~2s called to a :Swims served on the City relative to a lien on Lot 4, Block 6, Yorktown. Tlie City AttoGaey kas directed to determine why the City has bees named and to take any action necessary in the interest of the City. Legislation calling for School District Elections to be heid I Councilinzn Courtney then offered the following resolution and moved'it's (I RESOLUTION I/ $7 1~MITEM.N ADDITION FINAL PLAT APPROVAL CONTINUED. Councilman Richards' moticxi ' continuing final plat approval on Whiteman Addition until agreemeat is reached on the purchase price of the property was seconded by Councilman Shaw and carried. DON BYEPLY REGISTERED LAND SURVEY GRANTED FINAL APPROVAL. that all ordinance requirercents have bee? fulfilled, Councilman Courtney offered --a- &-""&--&Vu -- r..w.-.. b YVY YJ'&L' ,..-. Lxsz-A.b.. YYYU ""-J UL.U --I-- &-_ adoption: Being advised by Mr. Luce AL.. =--17-.--=-- ____?..---- __-_____ z.-- n-- n ____ -i-- >.--- 7 ~~-2 n. ______ ~ ~ -> - ----~s )A- - RESOLUTION. GRANTIXG FI'rJP;L 42SEOVAL TO .. DON BYERLY REGISTERED LAID SURVEY BE IT RESOLVED by the City Couiicil of the City of Edina, Minnesota, that that' certain Registered Land Sirvey , presented for- approval by Don Byerly of byerly Development Corpqration, covering property located generally West of Blake 3oad and Nortk of Evanswood Lane, and presented at the Edina City Councfl Bfeeting-*of November 3, 1975, be and is hereby granted final approval. Motion for adoption of the resolution.was seconded by Councilman Richards znd 0-n rollcall there were fire ayes and no nays and the resolution was adopted. a ' SAKITARY SEWER IMPROVEMENT NO. SS-325 APPROVED ON 100% PETITIO:?. The City Eng- iaeer reported that a petition for an improvement consisting of sanitary smsr to serve Lots 3, 4, 5 and 6, Block 1, Whiteman Addition, had been received in his office, signet2 by all'owners of real property to be'affected by said inr?rove- ment. Said petitio= also requested the Council to assess the entire cost zgainst the property of such owners. taken €or thd project with Q.'R.S. Construction, Inc., being low bidder at $: ,870 and G. L. Contracting the high bidder at $8,514.55. upon offered-the following resolution and moved its adoption: a' Hr. Dum also advised that informal bids had iieen Councilman Courtney tbxe- RESOLUTlOiL' ORDERING SANITARY SEIJER IHPROVEMENT NO. SS-328 - UPOE PETITION THEWFOR BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as fOllQWS:' 1. It is he;eby found and determined that a petition has been filed requesfihg the Council to construct a sanitary sewer improvement on an easement line to serve Lots 3, 4, 5 arid 6, Block 1, TJhiteman Addition, and to assess t,he enttre cost against the property of petitioners, and that said petition has been stgned by all owners of real pqpercy where said improvement is to beplocated. 2. The making of said improvement in accordance with said petition is here'? ordered pursuant to Minnesota Statutes, Section 429.031 (31, (Session Laws cf 1961, Chapter 525, Section 2). Said improvement is hereby designated and shall be referred to ill all subsequent proceedings as SANITAXY SSWER IMPRO'GrENENT NO,: SS-328. The erit:i.re cost of said improvement is hereby order& to be assessed :' against the properties to be served by the said improvement. Motion for adoption of the resolution was seconded by Couaczlman Richards and ?n rollcall there were five ayes and no nays and the resolution was adopted. 11/3/75 SANITARY SEWER IMPROVEMENT NO. SS-328 BID AWARDED. was-seconded by Councilman Courtney and carried, awarding bid taken informally for% Sanitary Sewer Imp-rovement No. SS-328 to Q.R.S. Construction, Inc., at $4,570. G. L. Contracting was the high bidder at $8,514.55. Councilman Richardsr niotion ORDINANCE NO. 1115-A1 ADOPTED. As recommended by City Attorney Erickson, Council- man Courtney offered the following ordznance for First Reading with waiver of Second Reading and moved its adoption inasmuch as Ordinance No. 1115 was never adopted by the required number of municipalities: ORDINANCE NO. 1115-A1 AN ORDINANCE REPEALING ORDINANCE NO. 1115 THE:CITY COUNCIL OF THE CITY OF EDINA, MINNESOTA, ORDAINS: Ordinance No. 1115 is hereby repealed in its entirety. I Section 1.' Sec. 2. This ordinance shall be in full force and effect immediately upon 4 ' :* its passage and publication. Iiotion for adoption of the ordinance was se call there were five ayes and no nays and t ATTEST : ,* - LIOUOR FUND AS OF AUGUST 31, 1975, was presented by Mr. Dalen, reviewed and ordered placed on file by motion of Councilman Courtney, seconded by Councilman Shaw and carried. LOGIS CAE'ACITY INCREASE REQUESTED. As recommended by Mr. Dalen, Councilman Richards offered the following resolution and moved its adoption: RESOLUTION TmEREAS, the Hennepin County Board of Commissioners has agreed to provide computer and related services on a fee basis through its Data Processing Division to LOGIS member agencies at "no profit, no loss"; and WHEREAS, the City of Edina on April 17, 1972, did execute the LOGIS Joint and Cooperative Agreement, thereby becoming a member of LOGIS; and ITHEREAS, the City of Edina is presently utilizing, through LOGIS, the computer and financial accounting operations of the City; and WdEREAS, the City of Edina is intending to utilize, again through LOGIS, additional computer capacity to perform utility billing operations as well as other opera- tions; and WlJERWS, present computer capacity available at Hennepin County and the utiliza- tioq of such capacity by all users is such as to preclude the possibility of significant increases in the amount of computer time availabie for use by the City of Edina and other LOGIS members; NOW, THEREFORE, BE-IT RESOLVED, by the City Council of the City of Edina that the Hennepin County Board of Commissioners 'is respectfully requested to provide, not later than May 1, 1976, additional day shift CPU capacity sufficient to accolpmo- date an increase of double the'present total LOGIS workload. Notion for adoption of the resolution was seconded by Councilwoman Schmidt and on rollcall there were four ayes and no nays, with Councilman Shaw abstaining, 'and the resolution was adopted. EDINA BICENTENNIAL COMMISSION REPORT TO BE IWE. Mayor Van Valkenburg advised that Mr., Raymond Bechtle, Chairman of the Edina Bicentennial Commission has requested an opportunity to report to Council on December 1, 1975 on the goals of the Commission, activities completed, activities being planned and budget report. taken. MR. ROBERT MORRIS'APPOINTED TO HUEL4X'RELATIONS COMMISSION. As recommended by Mayor Van Valkenburg, Councilwoman Schmidt's motion appointing Mr. Robert Morris to serve on the Human Relations Commission was seconded by Councilman Richards and carried. Mr. Morris' term will run until February 1, 1978. HISTORIC PRESERVATION BOARD DISCUSSED. make recommendations for seven members to serve on the Historic Preservation Board, one member of which shall be a member of the Hennepin County Historical Society. ;er-jices of Hcnr,ezcc Csxnty 3.qtx Prnressinc; +n nprfnm the naxrrnll nrn-eee4-n - - -- Y .. No action was ._ . - ., -. -- .' ~ .. # Mayor Van Valkenburg asked that Council .I 5600 DEWEY HILL ROAD PROPERTY DISCUSSED. .Hayor Van Valkenburg advised Council that Er. Thomas Hosek, who very recently purchased the house at 5600 Dewey Hili Road, is very concerned about the City's possible acquisition of his property. The Mayor will keep the Council advised of the progress of this natter. 11/3/75 LOT 31, AUDITOR'S SUBDIVISION NO. 172 ELZSEMENT VACATED. - Luce that the legal description of an easement dated June 30, 1975, filed July 8, 1975, as Document No. 4150501 in the office of the Register of Deeds is in error, Councilman Cour'mey offered the following resolution and moved its adoption: BE IT RESOLVED that the Edina City Council does hereby authorize the Mayor and Clerk to execute a Quit Claim Deed for the purpose of vacating the following des- cribed easement: Being advised by Err. J c. 3. e>* RESOLUTION The East 7 feet of the North 135 feet of the South 177.5 feet of Lot 31, Auditor's Subdivision No. 172, Hennepin County, llinnesota Motion for adoption of the resolution was seconded by Councilman Shaw and on, roll- call there were five ayes and no nays and the resolution was adopted. CLAIMS PAID. and carried, for payment of the following claims: $23,628.30; Construction Fund, $2,390.73; Park Funds, $65,980.18; Water Fund, $36,429.49; Liquor Fund, $1,180.00; Sewer Fund, $2,475.55; Improvements, $726,7:0.44; Total, $558,794.69; and for confirmation of payment of the follow- ing ciaims: Water Fund, $2,678.65; Liquor Fund, $279,729.02; Total, $338,291.25. No further business appearing, Councilman Richards' notion for adjournment was secozlded by Councilman Courtney and carried. Motion of Councilman Courtney was seconded by Councilwoman Schmidt General and Revenue Sharj-ng, General an6 Revenue Sharing, $53,477.76; Park Funds, $2,405.82; Adjournment at S:10 p.m. ..