Loading...
HomeMy WebLinkAbout19810831_regularm 0 cn "A 9 a 5 MINUTES OF WGULAR COUNCIL MEETING OF EDINA c1n7 COUNCIL HELD AT CITY HALL AUGUST 31, 1981 209 Answering rollcall were Members Bredesen, Richards, Turner and Mayor Courtney. MINUTES of August 17, 1981, were approved as submitted by motion of Member Brede- sen, seconded by Member Richards. Ayes : Bredesen, Richards, Turner, Courtney Nays: None Motion carried. MICHAEL-NORTHWESTERN PARTNERSHIP APPEAL FROM BOARD OF APPEALS AND ADJUSTMENTS DECISION CONTINUED TO SEPTEMBER 21, 1981. Mr. Hughes recalled that the appeal from Board of Appeals and Adjustments decisions of Michael-Northwestern Partner- ship for numerous variances for property located at 6400 France Ave. s. had been continued from the meeting of August 17, 1881, so that the proponents would have an opportunity to draft a proof of parking agreement for staff approval and so that they could get in touch with residents to the North to see if there would be any objections to the parking screening variance. just received copies of Michael-Northwestern's plans and would hope to proceed, subject to acceptance of the plans by the Council. Ms. Linda Fisher, represent- ing the proponent, said that the record owners of the property to the North had been notified of the proposed screening variance and that she had received no objections. She clarified that occupants of those buildings had not been noti- fied. prepared by Ms. Fisher and that plans yet have to be approved. if the Council is willing to authorize the variance subject to approval of the plans, the agreement could be presented for signing some time this week. Mr. Erickson clarified that implementation of the parking agreement would be the sole discretion of the Manager and the Planner. Stating that he believes that the approval of the plan and parking agreement should be at the discretion of the Council, and that he believes that residents of the buildings, as well as the owners, should have an opportunity to be heard, Mercber Richards' motion continu- ing the hearing until September 21, 1981, was seconded by Member Bredesen. Mr. Hughes said that he had Mr. Erickson advised that he has revised a proof of parking agreement He suggested that, Ayes: Bredesen, Richards, Turner, Courtney Nays: Mone Motion carried. It t7as understood that the proof of parking agreement should be well in order and that attempts should be made to contact all building occu- pants to the North. ONE CORPOR4TE CENTER PHASE 6 GRANTED FINAL PLAT APPROVAL, SUBJECT TO CONDITIONS. Mr. ,Hughes presented One Corpdrate Center Phase 6 for final plat approval, re- calling that t!iis plat is generally located East of Ohms Lane and West of Metro Blvd., and recommended approval subject to the following conditions: 1) an exe- cuted Developer's Agreement; of the Northeasterly portion of the property abutting Nine Mile Creek. explained that this restriction is necessary to provide a 50 foot setback from the creek which will be slightly relocated in connection with the construction of W. 71st Street.); 3) a grading permit from the Nine Mile Creek Watershed Dis- trict. In response to questions of the Council, Mr. john Kelly, representing the developer, explained that this is a replat of already platted property and that the creek crossing for W. 72nd Street has been completed. He advised that this group of buildings ranges from 7,000 to 14,000 square feet against 18,000 square feet for the largest building in the first group of buildings and that the near- est building is about 150 feec from the creek, with the parking lot being 50 feet from the creek. No objections being heard, Member Bredesen offered the following resolution and noved its adoption: 2) a Consarvation Restriction covering a small part (He RESOLUTION EE IT RESOLVED bg.the Edina City Council that that certair, plat entitled One . Corporate Center- Phase 6, platted by Ryar, Construction Company of ?Iinnesota, Inc., and presented at the Edina City Council Meeting of August 31, 1981, be and is hereby grwted final plat approval. Nation for adoption or' the resolution was seconded by Member =chards. Rollcall : Ayes: Bredesen, Richards, Tumer, Courtney Nzys: Hose Resolution adopted. LEO EVAEsS ZONING CHANGE HMRIXG CONTINUED TO OCTOBER 5, 1981. Mr. Hughes recalled that the zoning heaFiig for Leo Evans for PRD-2 zoning for property 8/31/81 210 generally located South of Vernon Ave. and East of Olinger Road had been continued to this meeting from the Council Meeting of July 6, 1981. mended by Mr. Hughes, Member Turner's motion continuing the hearing further until October 5, 1981, was seconded by Ifember Bredesen. .. As recom- Ayes : Bredesen, Richards, Turner, Courtney Nays: None Motion carried. LOTS 25 AND 26, AUDITORS SUBDIVISION 325 HEARING ON APPEALS FROM (BUILDING) BOARD OF APPEALS DECISION CONTINUED INDEFINITELY. Mr. Rosland recalled that the appeal of Dr. and Mrs. Carl 0. Rice from a decision of the (Building) Board of Appeals decision had been continued from August 17, 1981. Mr. Velde that he had not yet received a letter from the Rices objecting to the order o,f the City to connect to sanitary sewer, Member Bredesen's motion con- tinuing the.hearing indefinitely was seconded by Member Turner. Being advised by . Ayes : Bredesen, Richards, Turner, Courtney Nays: None Motion carried LOT 1, BLOCK 2, PARKWOOD KNOLLS HEARING ON APPEALS FROM (BUILDING) BOARD OF APPEALS DECISION CONTINUED TO NOVEMBER 2, 1981. Mr. RDsland recalled that the appeal of Mrs. B. A. Dvorak, 5400 Akers Lane, from a decision of the (Building) Board of Appeals decision had been continued from August 17, 1981. mended by Xr. Velde, Member Bredesen's motion continuing the hearing until Nov- ember 2, 1981, was seconded by Member Turner. Ayes: Bredesen, Richards, Turner, Courtney Nays: None Motion carried As recom- SUNDAY CLUB LIQUOR HOURS CONTINUED TO SEPTEMBER 21. Edina Country Club and Interlachen Country Club'had requested to be heard regard- ing a change in the Sunday Club Liquor hours but that they have now requested that the dlscussion be continued to September 21, 1981. then seconded by Member Bredesen, continuing discussion on Sunday Club Liquor hours until September 21, 1981. Mr. Rosland'cecalled that ' Member Richards' motion was Ayes : Bredesen, Richards, Turner, Courtney Nays: None Motion carried. SNOW PLOW BLADES BID AWARDED. Mr. Rosland presented tabulation of two bids for sixty snow plow blades showing Paper, Calmenson & Company low bidder at $4,257.30 and Ziegler, Inc., at $4,667.10. Member Turner's motion for award to recommended low bidder, Paper, Calmenson & Company, was seconded by Nember Rich,ards . Ayes : Nays: None Motion carried. ,. Bredesen, Richards, Turner, Courtney GLYCOL BASE ANTIFREEZE BID AWARDED. Mr. Rosland presented a tabulation from Hennepin County for Glycol Base Antifreeze showing a single bid of $1,124.20 from Coffey Petroleum. der, Coffey Petroleum, was seconded by Member Turner. Member Bredesen's motion for award to recommended bid- Ayes : Bredesen, Richards, Turner, Courtney Nays: None Motion carried. -- 1 .^ MORNINGSIDE AREA RESIDENTS TO BE REMINDED OF CHANGE IN GARBAGE PICK-UP. land reminded the Council that, at the time the Morningside garbage contract was last,awarded, residents had been advised that they would have to contract pri- vately for their garbage pFck-up, and advised that a notice.would be put in the next newsletter. As Member Bredesen recommended, Mr. Rosland said that he.would attempt to get all of the licensed haulers to cooperate in sending a notice to residents in addition to the notice being given by the City. No formal action was taken. i980 AUDIT REPORT CONTINUED TO OCTOBER 19, 1981. Comsil's attention was +led to a letter fron? George M. Hansen Company regarding their evaluation of the .City's system of internal accounting control as observed in their 1980 audit.' Mr. Rosland advised that he, and Mr. Dalen had met with the auditois and would continue to work on certain areas of the accounting system. Mr. Ros- In response to 8/ 3 1/81 I c9) 0 questions of the Council, Mr. Dalen explained that he does not have a large , enough Richards' motion was seconded by Member Bredesen that the auditors be asked to describe more fully just how the system should be improved and what kind of a study would disclose the "material weaknesses in the system" and report back to the Council at its Meeting of October 19, 1981. Ayes: Bredesen, Richards, Turner, Courtney Nays: None Motion carried. staff to provide an ideal internal control. Following discussion, Member I ~ 5 I AFFIRMATIVE ACTION AWARENESS WORKSHOP NOTED. Member Turner called Council's attention to a notice of an "Affirmative Action Awareness Program for Managers and Supervisors" which appeared in the Edina Chamber of Commerce Newsletter, pointed out that the Human Relations Commission has had an interest in this for some time and particularly commended Messrs. Tom Oye and Jeff Workinger for their efforts in the program. PEOPLmaING PROGRAM DISCUSSED. made for the Peoplemaking Program which will be held in the spring. Courtney advised that Ms. Smith will work with the committee. No formal action was taken . EDINA INTERCHANGE 3RD ADDITION EASEMENT VACATION HEARING DATE SET. Member Turner offered the following resolution and moved its adoption: She No action was taken. Member Turner advised that plans are now being Mayor RESOLUTION CALLING PUBLIC HEARING ON VACATION OF EASEMENT FOR UTILITY AND DRAINAGE PURPOSES BE IT RESOLVED by the City Council of the City of Edina, Hennepin County, Minnesota, as follows: 1. It is hereby found and determined (after receipt of the petition of the land affected thereby) that the following described easement for utility and drainage purposes should be considered for vacation, in accordance with the provisions of Minnesota Statutes, Sections 412.851 and 160.29: The Southerly five feet (5') of Lot 14 and the Northerly five feet (5'). of Lot 16, Block 1, Edina Interchange 3rd Addition. This Cofmcil shall meet at the time and place specified in the form of notice 2. including paragraph 3 hereof for the purpose of holding a public hearing on whether such vacation shall be made in the interest of the public. 3. The Clerk is authorized and directed to cause notke of the time, place and purpose of said hearing to be published once a week for two weeks, in the Edina Sun, being the official newspaper of the City, the first publication at least 14 days prior to the date of.such hearing and to post such notice, at least 14 days prior to the date of such hearing, in at least three(3) public and cons- picuous places within the City as provided in Minnesota Statutes, Section 412.851. Such notice shall be in substantially the following form: (Official Publication) CITY OF EDINA 4801 W. 50TH STREET EDINA, MINNESOTA 55424 NOTICE OF PUBLIC HEARIIIG ON VACATION OF EASEEENTS FOR UTILITY AND DRAINAGZ PURPOSES IN THE CITY OF EDINA, COUNTY OF HENNEPIN, MINNESOTA NOTICE IS HEREBY GIVEN that the Edina City Council will meet at the Ediua City Hall, 4801 FJ. 50th Street, on Monday, October 5, 1981, at 7:OO o'clock p.m., for the purpose of holding a Public aearing on the proposed vacation of the fol- lowing easements for utility and drainage purposes: The Southerly five feet (5') of Lot 14 and the Northerly five feet (5') of Lot 16, Block 1, Edina Ieterchange 3rd Addition All persons who desire to be heard with respect to the question of whether or not the above proposed easenient vacati.ons are in the public interest and should be ' made shall be heard at said tine and place. extent: to whfch such proposed easement vacations affect existing easements within the area of the proposed vacations and the extent to which the vacations affect the authority of any person, corporation or municipality owning or con- trolling electric or telephone poles and lines, gas and sewer lines, or water pipes, mains and hydrants ofi or under the area of the proposed vacation, to continue maintaining the same or to enter upon such easement areas or portion theretjf vacated to maintain, repair, replace, remove, or otherwise attead thereto for the purpose of specifying, Ln any such vacation resdlution, the extent lo which any or all of any such easernents, and such authority to maintain, and to enter upon the area of the proposed vacation, shall continue. The Council shall consider the * 81 3 118 1 .- , 212 BY ORDER OF THE EDINA CITY COUNCIL. Florence B. Hallberg . City Clerk Richards. Motion for adoption of the resolution was.seconded by Member Rollcall : Ayes: Bredesen, Richards, Turner, Courtney Nays: None Resolution adopted. OBNAMENTAL STREET LIGHTING IMPROVEMENT NO. L-21 APPROVED ON 100% PETITION. Mr. Rosland presented the petition of Colonial Church of Edina to construct street lighting for the Colonial Church parking lot. He explained that the proposal in- cludes two 30' light poles lighting the City parking lot adjacent to the park and that the estimated cost of $1,230.00 would be the responsibility of the City. In response to questions of Member Richards, Mr. Kojetin explained that the parking lot is used for park purposes, as well as by the church and that he believes that the lights are needed. that the cost to the City is included in the 1981 Budget, Member Richards offered . the following resolution and moved its adoption: Being advised that the church. will pay for four lights and RESOLUTION ORDERING ORNAMENTAL STREET LIGHTING IMPROVEMENT L-21 UPON PETITION THEREFOR BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows: 1. It is hereby found and determined that a petition has been filed requesting the Council to construct an ornamental street lighting impro+ement on Colonial Way street.parking lot and to assess 213 of the cost against the property of the petitioner and that said petition has been signed by the Vice Moderator of the Church council of Colonial Church of Edina. 2. The making of said improvement in accordance with said petition is hereby ordered pursuant to Minnesota Statutes, Section 429.031 (3), (Session Laws of 1961, Cnapter 525, Section 2). Said improvement is hereby designated and shall be referred to in all subsequent proceedings as Ornamental Street Lighting Improve- ment L-21. against the properties of the Colonial Church of Edina abutting on said Colonial Way street parking lot where said improvement is to be located. Motion for adoption of the resolution was seconded by Member Bredesen. The 2/3 of the cost of said improvement is hereby ordered to be assessed I .Ayes: Bredesen, Richards, Turner, Courtney Nays: gone Resolution adopted. APPLICATIOK FOR 198213 COMMUNITY HEALTH SERVICES PLAN APPROVED. Mr. Rosland pre- sented the application for 1982/3 Community Health Services Plan, advising that the 1982 proposed budget reflects a 7% increase over 1981 and.that approval of the agreement would be predicated on reaching agreement with the City of Bloom- ington based on a proposed contract price of $92,278. the Advisory Board of Health has prioritized the services that they feel most crucial. Tumer then offered the following resolution and moved its adoption with the understanding that any additional cost will be brought to Council: A RESOLUTION APPROVING THE PLAN FOR PROVISION OF COMMLNITY HEALTH SERVICES IN THE CITY OF EDINA AND THE*STJBMISSION OF AN APPLICATION FOR THE COMMUNITY Member Turner advised that 3fembe.l: HEALTEI SERVICES ACT SUBSIDY WHEREAS, the City Council of the City of Edina is the official governing body of the City of Edina and functions as the official Board of Health in the City of Edina; and WHEREAS, the City Council is committed to promote, support and maintain the health of the entire cornunity at the highest level; and 'WEEREAS, the Community Health Services Act provides for subsidies in support of public health services on the local level throughout the State of Minnesota; and WHEREAS, a special needs study has been made and a special public meeting held relative to the needs and priorities of the community for Community Health Ser- WHEREAS, the Advisory Board of Health of the City of Edina has reviewed the plan for the provision of public health services in the City of Edina and recommends its approval to the City Council; and WHEREAS, the City Council has reviewed this self-same plan and finds it consis- tent with the needs and priorities of the community as determined by the Advisory Board'of Health and as expressed by the citizens of Edina; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Edina that I the Community Health Services Plan forathe City of Edina is approved and auth- orization is hereby given to submit an application for the Community Health Services Act subsidy. ** Motion for adoption of the resolution was seconded by Member Richards. I vices ; ' and 'A - -2 I . 8/31/18 m 0 213 Rollcall : Ayes: Bredesen, Richards, Turner, Courtney Nays: None Resolution adopted. '" EDINA/BLOOMINGTON LAND EXCHANGE RESOLUTION AMENDED. son, Nember Richards offered the following resolution, with instructions that the staff work to complete the transaction as quickly as possible, and moved its adoption: As recommended by Mr. Erick- AMENDED RESOLUTION EXPRESSING THE CITY OF EDINA'S DESIRE TO DETACH CERTAIN LAND FROM BLOOMINGTON FOR CONCURRENT ANNEXATION TO EDINA WHEREAS, the City Council of the City of Edina is the official governing body of the City of Edina; and WHEREAS, the City Council finds that certain property now located in the City of Bloomington, County of Hennepin, State of Minnesota, described in Exhibit I (the "Winfield Property") which is attached- hereto and made a part hereof, abuts the City of Edina and is properly subject to concurrent detachment and annexa- tion by concurrent resolutions of the two councils of the two.municipalities pur- suant to Minnesota Statutes Section 414.061; and WHEREAS, it is the desire of the City of Edina that the Winfield Property des- cribed in Exhibit I be concurrently detached from the City of Bloomington and annexed to the City of Edina; and WHEREAS, this resolution is being adopted concurrently with a similar resolution by the City Council of the City of Bloomington approving the detachment and annexation of the property as provided above and is to be contingent upon adop- tion by the Bloomington City Council of said resolution; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Edina in Regu- lar Meeting assembled, that the above described concurrent detachment and annexa- tion be effective upon the issuance of the order of the Minnesota Municipal Board or at such later date as provided by the Board in its order; and BE IT RESOLVED further that the resolution adopted by the Edina City Council at its Regular Meeting of April 6, 1981, be and is hereby amended by this Resolu- t ion. EXHIBIT I (The Winf ield Property) I The following described land in the County of Hennepin, State of Minnesota: Lot 1, Block 1, Northwestern Financial Center Motion for adoption of the resolution was seconded by Member Turner. Rollcall: Ayes: Bredesen, Richards, Turner, Courtney Nays: None Resolution adopted. ORDINANCE NO. 407-A1 REFEWD TO IvlANAGER FOR FURTEER STUDY. Mr. Rosland pre- sented Ordinance No. 407-A1 which would delete the requirement that the Board of Appeals must give notice of its hearings and that it use the same procedure as the.Board of Appeals and Adjustments. Council, Mr. Rosland said that most of the matters covered by this ordinance would hzve no implications for neighbors. that if a sanitary sewer system failed that there would be neighborhood implica- tions. She then moved that the ordinance be referred to the Manager for further study. Motion was seconded by Member Richards. In response to questions of the Member Turner said that she believed Ayes : Bredesen, Richards, Turner, Courtney Nays: None Motion carried. SALE OF $4,500,000 GENERAL OBLIGATIOK TAX INCREMENT BONDS APPROVED. mended by Mr. Rosland, Member Richards offered the following resolution and moved its adoption: RESOLUTION RELATING TO $4,500,000 GENERN, 1981: AUTHORIZING THE ISSUANCE AND PUBLIC As recom- ., OBLIGATION TAX INCREMXNT BONDS, SERIES . r.*. , SALE THEREOF BE IT RESOLVED byThe City Council of the City of Edina, Minnesota (the City), as follows: ' Section 1 Authorization. Pursuant to the provisions' of Minnesota Statutes, Secti.ons 273.77(a) and 462.581 and Minnesota Statutes, 'Chapter 475, the City Council of the City does authorize the issuance and sale of its General Obligation 'Tax Increment Bonds, Series E (the Bonds) in the principal amount of $4,500,000 for the purpose of providing funds for the payment of the public redevelcpment costs needed for a 8/31/81 214 redevelopment project, as defined in Mhnesota Statutes, Section 273.73, Sub- division 10, to be undertaken in accordance with the Southeast Edina Redevelop- ment Plan, within a tax increment financing district, as defined in Minnesota Statutes, Section 273.73, Subdivision 9, previously established by the Housing and Redevelopment Authority in and for the City of Edina and approved by the City. proceeds of the Bonds are as follows: The present estimated public redevelopment costs to be financed with the Acquisition of Land $4,250,000 Legal, Fiscal, Administrative 162,000 Capitalized Interest Bond Discount 88,000 $4,500,000 Section 2. Sale, Publication of Notice. This Council shall meet at the time and place set forth in the Official Notice of Bond Sale set forth in Section 3 for the purpose of receiving bids and awarding sale of the Bonds. The City Clerk is authorized and directed to cause a public notice of the time,place and purpose of the meeting to be published in the official newspaper of the City and in Commercial West, published in lame- apolis, Minnesota, once not less than ten days before the date of said meeting.. ' - See. 3. Form of Official Notice of Sale. The following Official Notice of Bond Sale shall constitute the terms and conditions for the sale of the Bonds: OFFICIAL NOTICE OF BOND SALE $4,500,000 GENERAL OBLIGATION TAX INCREMENT BONDS SERIES 1981 CITY OF EDINA, IfINNESOTA NOTICE IS HEREBY GIVEN that the City Council of the City of Edina, Minnesota, will meet at the-City Hall, in Edina, Minnesota, on the 5th day of October, 1981, at 7:OO o'clock, p.m;, C.D.T., to receive, open and consider bids for and award the sale of $4,500,000 General Obligation Tax Increment Bonds, Series 1981, of the City (the Bonds), to be issued on the following terms: PURPOSE The Bonds will be issued for the purpose of providing funds for the acquisition of land needed for a redevelopment project in the City pursuant to the provi- sions of Minnesota Statutes, Sections 273.77.and 462.581 and ELinnesota Statutes, Chapter 475. DATES, TYPE, DENOMINATION AND MATURITIES The Bonds will be dated October 1, 1981, will be issued as negotiable hvestment securities with attached interest coupons, will be in the denomination of $5,000 each unless designated otherwise by the purchaser within 48 hours of award of sale, and will mature serially, without option of prior payment in the amount of $450,000 on October 1 in each of the years 1984 through 1993. ~ PAYING AGENT - Principal znd interest will be made payable at a suitable bank iE the United States- recomQended by the purchaser &d approved by the City Council, provided that such recommendation is received within 48 hours after the sale. The City will select the paying agent if the recommendation is not approved. will pay the reasonable charges of the paying agent. All Bonds maturing on the szme date must bear interest from date of issue until paid at a single uniform rate, designated by the successful bidder, expressed as ar~ integral multiple of 5/100 of 1% per annum and represented by a single set.of coupons. No rate of interest nor the net effective average rate of the issue may exceed 12% per annum. and seniannually thereafter on April 1 and October 1 in each year. On or before October 28, 1981, the City will furnish and deliver anywhere in the continerrtal United States, the printed and executed Bonds, the opinion of bond counsel, ad a certificate stating that no litigation in any manner questioning their validity is then threatened or pending. The charge of the delivery agent must be paid by the purchaser but all other costs, with the exception of the printing of CUSIP nr;mbers as indicated, wax be paid by the City. The purchase price must be paid upon delivery, in funds available for expenditure by the City on the day of payment. LEGAL OPINION Aa opinion as to the validity of the Bonds and as to the exemption of the Bonis and interest thereon from taxation will bo, provided by Dorsey, Windhorst, Hanna- ford, ldhitney ti Halladay, of Mihneapolis, lfinnesota. The legal opinion will be printed on the Bonds at the request of the purchaser. The City RATES, INTEREST PAYMENT DATES Interest on the Bonds will be payable on April 1, 1982, DELIVERY - 8/31/81 215 TYPE OF BID AND AWARD bids for not less than $4,412,000 and accruec interes- on the principal Seale' sum o $4,500,000 must be mailed or delivered to the undersigned and must be receI+ed prior to the time specified abov2 for opening bids. unconditional and must be accompanied by.a cashier's or certified check or bank draft in the amount of $90,000, payable,to the order of the "City of Edina, Minnesota", to be retained by the City as liquidated damages if the bid is accepted and the bidder fails to comply therewith. The bid authorizing the lowest net interest cost (total interest from date.of Bonds to stated maturities, less any cash premium or plus any amount less than $4,500,000 bid for principal) will be deemed the most favorable. In the event that two or more bids state the lowest net interest cost, the sale of the Bonds will be awarded by lot. The City reserves the right to reject any and all bids and to waive any infor- malities in any bid, and to adjourn the sale. CUSIP NUMBERS The City will assume no obligation for the assignment or printing of CUSIP numbers on the Bonds or for the correctness of any numbers printed thereon, but will pennit such assignment and printing to be done at the expense of the purchaser, if such assignment and printing can be done prior to the delivery of the Bonds. Each bid must be I BY ORDER OF THE CITY COUNCIL (signed) Florence B. Hallberg City Clerk Edina, Minnesota m 0 CIP) Section 4. Official Statement. -3 The City Treasurer-Finance Director is hereby authorized and directed to prepare on behalf of the City an Official Statement to be distributed to potential purchasers of the Bonds. Such Official Statement shall contain the Official Notice of Bond Sale set forth in Section 3 hereof and such other information as shall be deemed advisable and necessary to adequately describe the City and the security, terms and conditions of the Bonds. Motion for adoption of the foregoing resolution was duly seconded by Member Turner. d: Rollcall : Ayes: Bredesen, Richards, Turner, Courtney Nays: None Resolution adopted. ' . ._ . SALE OF Member Bredesen offered the following resolution and moved its adoption: $4,200,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS AUTHORIZED. RESOLUTION RELATING TO $4,200,000 GENERAL OBLIGATION~TENPORARY IMPROVEMENT BONDS, SERIES 1981; AUTHORIZING THE ISSU-ANCE AND SALE THEREOF BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows: Section 1. Authorization and Recitals. The City has previously issued temporary improvement bonds of the City in the aggregate principal amount of $4,650,000 to defray the expenses incurred in the'consrruction or' various local improvements under and pursuant to Minne- sota Statutes, Chapter 429 (the Act). All of the temporary improvement bonds mature on November 1, 1981 and it is hereby determined to be necessary for the City to borrow $4,200,000 to provide sufficrent funds, together with funds on hand and available for such purpose, for the payment of the principal of and interest on such temporary iinprovement bonds at maturity, Section 2. Necessity for Issuance of General Obligation Temporary Bonds. The City is authorized by the Act, to sell and :issue temporary improve- ment bonds maturing within not more than three years from their date of issue, in which event the City shall be obligated to pay the temporary improvement bonds and interest thereon out of the proceeds of definitive improvement bonds or additional temporary improvement bonds which the City shall issue and sell - at or prior to the maturity of the temporary bonds, to the extent that they cannot be paid out of assessments arid taxes theretofore collected or other funds available and appropri.ated therefor. pledge the full faith, credit and taxing power of the City to payment of any temporary improvemsnt bonds. It is hereby determined to be necessary and ex- pedient for the City to sell and issue its Genera1 Obligation Temporary Improve- ment Bonds, Series 1981 (the Bonds) in the principal mount of $4,200,000, of which amount $82,000 represents interest as provided in Minnesota Statutes, Section 275.56. pledged to the payment of the principal of and interest on the Bonds. The City is also authorized by the Act to The full faith, credit and taxing powers of the City are hereby 8/31/81 Section 3. Sale, Publication of Notice. This Council shall meet at the time set forth in Sect,an 4 and place specified in the Official Notice of Bond Sale for the purpose of receiving sealed bids and awarding sale of the Bonds. The City Clerk is hereby authorized and directed to cause the notice of the time, place and purpose of the meeting to be published in The Edina Sun, the official newspaper of the City, and in Commer- cial West, published in Ninneapolis, Minnesota, once not less than ten days before the date of said meeting. 216 Section 4. Form of Official Notice of Bond Sale. The following Official Notice of Bond Sale shall constirute the terms and conditions for the sale of the Bonds: OFFICIAL NOTICE OF BOND SALE $4,200,000 GENERAL OBLIGATION TEIIPORARY IMPROVEMENT BONDS, SERIES 1981 CITY OF EDINA, ElINNESOTA NOTICE IS HEREBY GIVEN that the City Council of the City of Edina, Minnesota, will meet at the City Hall, in Edina, Mnnesota, on the 5th day of October, 1981, at 7:OO o'clock p.m., C.D.T., to receive, open and consider bids for and award the sale of $4,200,000 General Obligation Temporary Improvement Bonds, Series 1981, of the City (the Bonds), to be issued on the following terms: PURPOSE The Bonds will be issued for the purpose of temporarily financing the cost of constructing various local improvement projects within the City, in accordance with the provisions of Minnesota Statutes, Cahpters 429 and 475. To the extent that the principal of and interest on the Bonds cannot be paid when due from receipts of special assessments, taxes, or other funds appropriated for -*-. the purpose, they shall be paid fron the proceeds of definitive improvement bonds or additional temporary improvement bonds which the City Council shall offer for sale in advance of their maturity. the holders may require the issuance in exchange for them, at par, of new tem- porary improvement bonds maturing within one year from their date of issue and bearing interest at the maximum rate permitted by law. principal of and interest on the Bonds. DATE, TYFE, DENOKIKATION AND X&CURITY The Sonds will be dated October 1, 1981, will be issued as negotiable investment securities with attached interest coupons, will be in the denomination of $5,000 each unless designated otherwise by the purchaser within 48 hours of award of sale, and will mature, without option of prior payment, on October 1, 1984. SECURITY If the Bonds-are not paid in full at maturity, In addition, the full . faith, credit and taxing power of the City are pledged to the payment of the PAYING AGENT Principal and interest will be made payable at a suitable bank in the United States recommended by the purchaser and approved by the City Council, provided that such recommendation is received within 48 hours after the sale. The City Council Fill seleck the paying agent if the reconmendation is not approved. City will pay the rezsonable charges of the paying agent. Interest will be payable on April 1 and October 1 in each year, commencing April 1 and October 1 in each year, commencing April 1, 1982. All Bonds must bear interest at a single, uniform rate from date of issue to maturity, not exceeding 12% per annum, expressed as an integral multiple of 5/100 of 1% per annum, represented by a single set of coupons. . DELIVERY On or before October 28, 1981, the City will furnish and deliver anywhere in the continental United States, the printed and executed Bonds, the opinion of bond counsel and certificates stating that no litigation in any manner questioning their validity is then threatened or pending. must be paid by the purchaser, but all other costs, with the exception of print- ing the CUSIP numbers as indicated,-will be paid by the City. price must be paid upon delivery of the Bonds, in funds available for expendi- ture by the City on the date of payment. LEGAL OPINION An opinion as to the validity of the Bonds and as to the exemption of the Bonds and the interest thereon from taxation will be provided by Dorsey, Windhorst, Hannaford, h%itncy & Halladay, of Minneapolis, Minnesota. The legal opinion will be printed on the Bonds at the request of the purchaser. TYPE OF BID AND AWARD Sealed bids for not less than $4,118,000 and accrued interest on the principal sum of $4,200,000 must be mailed or delivered to the undersigned and must be received prior to the time specified above for opening bids. Each bid must be unconditional and must be accompanied by a cashier's check or bank draft irt the The INTEREST PAYMENT DATES, RATES The charge of the delivery agent -I The purchase a 0 5 8/31/81 amount of $84,000, payable to to be retained by the City as 217 the order- of the "City of Edina, Minnesota", liquidated damages if the bid is accepted and the bidder fails-'to comply therewith. interest cost (total interest on all Bonds from date thereof to their maturities, less any amount more than $4,200,000 or plus any amount less than $4,200,000 bid for principal) will be deemed the most favorable. The net effective rate on all Bonds may not exceed 12% per annum. state the lowest net interest cost, the sale of the Bonds will be awarded by lot. The City reserves the right to reject any and all bids, to waive infor- malities in any bid, and to adjourn the sale. The b-id authorizing the lowest net In the event that two or more bids CUSIP NUMBERS The City will assume no obligation for the assignment or printing of CUSIP numbers on the Bonds or for the correctness of any numbers printed thereon, . but will permit such numbers to be assigned and printed at the expense of the purchaser, if such assignment and printing can be done prior to the delivery of the Bonds. BY ORDER OF THE CITY COUNCIL (signed) Florance B. Hallberg City Clerk Edina, Minnesota Section 5. Official Statement. The City Treasur.er-Finance Director, is hereby authorized and directed to prepare on behalf of the City an Official Statement to be distributed to potential purchasers of the Bonds. Such Official Statement shall contain the Official Notice of Bond Sale set forth in Section 4 hereof and such other information as shall be deemed advisable and necessary to describe adequately the City and the security for, and terms and conditions of, the Bonds. Motion for adoption of the foregoing resolution was duly seconded by Member Turner. Rollcall : Ayes: Bredesen, Richards, Turner, Courtney' Nays: None Resolution adopted. ' CLAIMS PAID. Motion of Member Richards was seconded by Member Bredesen for payinent of the following Claims as per Pre-List: Park Fund, $17,631.48; Art Center, $856.35; Park Construction, $102.60; Swim- ming Fool, $4,743.31; Golf Course, $34,786.19; Arena Fund, $4,839.13; Gun Range, $1,945.12; Water Fund, $29,422.41; Sewer Fund, $2,671.14; Liquor Fund, $825,456.21; Construction, $5,778.47; Total, $1,117,371.79. General Fund, $189,139.38; Ayes: Bredesen, 'Richards, Turner, Courtney Nays: None Motion carried. No fisrther business appearing, the Mayor declared the meeting adjournec! at 9-:OS p.?rz. . y& .... ........ 0 Cfty Clerk I