HomeMy WebLinkAbout20001106_regularMINUTES
OF THE REGULAR MEETING OF THE
EDINA CITY COUNCIL
HELD AT CITY HALL
NOVEMBER 6,2000 - 200 P.M.
ROLLCALL Answering rollcall were Members Faust, Hovland, Johnson, and Mayor Maetzold.
CONSENT AGENDA ITEMS APPROVED Motion made by Member Johnson and seconded by
Member Faust approving the Council Consent Agenda as presented.
Rollcall:
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
MINNESOTA CHEMICAL HEALTH WEEK PROCLAIMED Mayor Maetzold proclaimed the week
of November 13 - 19, 2000, as Minnesota Chemical Health Week in Edina. He suggested the City
Council support the activities sponsored by the Minnesota Chemical Health Week, MADD’s Red
Ribbon Project and D-Day and encouraged citizens of Edina to participate in activities and other
alcohol and drug abuse prevention efforts year round. Mayor Maetzold presented the proclamation
to K.C. Glaser, Tomy Weber, Rachael Peterson, and Kris Skovbroten.
Member Faust made a motion approving the proclamation as presented. Member Johnson
seconded the motion.
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
“MINUTES OF THE REGULAR MEETINGS OF OCTOBER 17,2000, APPROVED Motion made
by Member Johnson and seconded by Member Faust approving the Minutes of the Regular
Meeting of October 17,2000.
Motion carried on rollcall vote - four ayes.
2000C GENERAL OBLIGATION REFUNDING BOND SALE APPROVED Assistant Manager
Anderson explained the proposed bond issue would provide a current refunding of the 1992B
General Obligation Tax Increment Bonds. These bonds were originally issued in 1988 and 1989 as
part of the Centennial Lakes Development. The present value savings on these bonds will have a
positive effect on the cash flow of the Centennial TIF District. Staff recommends the Council approve
the sale of the 2000 G.O. Refunding Bonds.
Rusty Fifield, Ehlers and Associates, indicated that bids were received for the sale of $15,820,000 of
General Obligation Tax-Increment Refunding bonds. Six bids were received with the low bidder
being USBancorp Piper Jaffray at a true 4.7345% interest rate. Results of the Bond Sale showed
savings of $1,000,307 which averages to $125,038 per year. Mr. Fifield took special note that the bids
were geographically diverse and reflected the nature of this issue and strength of Edina not only in
Minnesota but across the country.
Member Johnson inquired whether a preference was set for the pay-out of the bonds. Mr. Fifield
explained when the bonds are offered for sale, the bidders have two variables, 1) the interest rate they
bid each year and 2) the amount of discount they are allowed to take. Most bidders took the I maximum discount offered. Each bidder determined their interest rate.
Minutes/Edina Citv Council/November 6,2000
Manager Hughes asked why the term for the bids was selected. Mr. Fifield explained in planning for
this issue, cash flow in the tax increment districts was examined. The structure mirrors the structure
put: into place with previous bonds.
Member Johnson introduced the following resolution and moved its adoption: I
RESOLUTION NO. 2000-112
RESOLUTION RELATING TO $15,820,000 GENERAL OBLIGATION TAX INCREMENT
REFUNDING BONDS, SERIES 2000C; AWARDING THE SALE, FIXING THE FORM AND
DETAILS AM) PROVIDING FOR THE EXECUTION AND DELIVERY THEREOF AND SECURITY
THEREFOR
BE IT RESOLVED by the City Council (the “Councilyy) of the City of Edina, Minnesota
(the “Cityyy), as follows:
Section 1. Recitals, Authorization and Sale of Bonds.
1.01. Authorization and OutstandinP Bonds. The City has presently outstanding its
General Obligation Tax Increment Refunding Bonds, Series 1992B, initially dated as of November 1,
1992 (the ‘Trior Bonds”). This Council, by a resolution adopted on October 3,2000, authorized the sale
of General Obligation Refunding Bonds, Series 2000C (the “Bondsyy), of the City, the proceeds of which
mould be used, together with any additional funds of the City which might be required, to refund the
Prior Bonds maturing on or after February 1,2002 (the “Refunded Bonds”).
1.02. Sale of Bonds. The City has retained Ehlers & Associates, Inc., an independent
financial advisor, to assist the City in connection with the sale of the Bonds. The Bonds are being sold
pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9), without meeting the
requirements for public sale under Minnesota Statutes, Section 475.60, Subdivision 1. Pursuant to the
Terms and Conditions of Sale for the Bonds, (6J proposals for the purchase of the Bonds mere
received at or before the time specified for receipt of proposals. The proposals have been publicly read
and considered, and the purchase price, interest rates and net interest cost under the terms of each
proposal have been determined. The most favorable proposal received is that of USBancorp Piper
Jaffray, of Minneapolis, MN (the “Purchaseryy), to purchase the Bonds at a price of $15,693,914.60, the
Bonds to bear interest at the rates set forth in Section 3.01. The proposal is hereby accepted, and the
Mayor and the City Manager are hereby authorized and directed to execute a contract on the part of the
City for the sale of the Bonds with the Purchaser. The good faith checks of the unsuccessful bidders shall
be returned forthwith.
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1.03. Performance of Requirements. The City is authorized by the Act to issue and sell
the Bonds to secure the Bonds by the covenants and agreements hereinafter set forth. All acts, conditions
and things which are required by the Constitution and laws of the State of Minnesota to be done, to exist,
to happen and to be performed precedent to and in the valid issuance of the Bonds having been done,
existing, having happened and having been performed, it is now necessary for this Council to establish
the form and terms of the Bonds, to provide security therefor and to issue the Bonds forthwith.
Section 2. Form of Bonds. The Bonds shall be prepared in substantially the following
form:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF HEmPIN
CITY OF EDINA
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MinutesEdina City CounciVNovember 6,2000
GENERAL OBLIGATION TAX INCREMENT REFUNDING BOND,
SERIES 2000C
Date of
Maturitv Original Issue CUSIP
February 1, - November 29,2000
REGISTERED OWNER:
PRINCIPAL AMOUNT: DOLLARS
THE CITY OF EDINA, Hennepin County, Minnesota (the “City”), acknowledges itself to
be indebted and, for value received, hereby promises to pay to the registered owner named above, or
registered assigns, the principal amount specified above, on the maturity date specified above, with
interest thereon from the date of original issue specified above, or from the most recent interest payment
date to which interest has been paid or duly provided for, at the annual rate specified above. Interest
hereon is payable on February 1 and August 1 in each year, commencing August 1,2001, to the person in
whose name this Bond is registered at the close of business on the 15th day (whether or not a business
day) of the immediately preceding month, all subject to the provisions referred to herein with respect to
the redemption of the principal of this Bond before maturity. The interest hereon and, upon
presentation and surrender hereof at the office of the City Finance Director, in Edina, Minnesota, as
Registrar, Transfer Agent and Paying Agent (the “Bond Registrar”), or its successor designated under
the Resolution described herein, the principal hereof, are payable in lawful money of the United States of
America by check or draft of the City or the Bond Registrar if a successor to the City Finance Director I as Bond Registrar has been designated under the Resolution described herein.
This Bond is one of an issue in the aggregate principal amount of $15,820,000 (the
“Bonds77) all of like date and tenor except as to serial number, interest rate, redemption privilege and
maturity date, issued pursuant to a resolution adopted by the City Council on November 6, 2000 (the
“Resolution”), for the purpose of refunding certain of the City’s outstanding general obligation bonds
and is issued pursuant to and in full conformity with the provisions of the Constitution and laws of the
State of Minnesota thereunto enabling, including Minnesota Statutes, Section 469.178 and Chapter 475.
This Bond is payable primarily from tax increments to be derived from a tax increment financing district
established by the City and from tiix increment financing districts established by the Housing and
Redevelopment Authority in and for the City of Edina (the “Districts,,) which have been pledged to the
payment of the Bonds by the Resolution. In addition, for the full and prompt payment of the principal
and interest on the Bonds as the same become due, the full faith, credit and taxing power of the City have
not been and are irrevocably pledged. The Bonds are issuable only as fully registered bonds in
denominations of $5,000 or any multiple thereof, of single maturities.
Bonds maturing in the years 2002 through 2005 are payable on their respective stated
maturity dates without option of prior payment, but Bonds having stated maturity dates in the years
2006 through 2009 are each subject to redemption and prepayment, at the option of the City and in
whole or in part, and if in part, in the maturities selected by the City and, within any maturity, in $5,000
principal amounts selected by lot, on February 1,2005 and on any date thereafter, at a price equal to the
principal amount thereof to be redeemed plus accrued interest to the date of redemption.
At least thirty days prior to the date set for redemption of any Bond, notice of the call for
redemption will be mailed to the Bond Registrar and to the registered owner of each Bond to be
redeemed at his address appearing in the Bond Register, but no defect in or failure to give such mailed
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Minutes/Edina Citv CounciVNovember 6,2000
notice of redemption shall affect the validity of the proceedings for the redemption of any Bond not
affected by such defect or failure. Official notice of redemption having been given as aforesaid, the
Bonds or portions of the Bonds so to be redeemed shall, on the redemption date, become due and payable
at the redemption price herein specified and from and after such date (unless the City shall default in the
payment of the redemption price) such Bond or portions of Bonds shall cease to bear interest. Upon the
partial redemption of any Bond, a new Bond or Bonds will be delivered to the registered owner without
charge, representing the remaining principal amount outstanding.
As provided in the Resolution and subject to certain limitations set forth therein, this
Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by the
registered owner hereof in person or by his attorney duly authorized in writing upon surrender hereof
together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the
registered owner or his attorney; and may also be surrendered in exchange for Bonds of other authorized
denominations. Upon such transfer or exchange, the City will cause a new Bond or Bonds to be issued in
the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest
at the same rate and maturing on the same date, subject to reimbursement for any tax, fee or
governmental charge required to be paid with respect to such transfer or exchange.
The City and the Bond Registrar may deem and treat the person in whose name this Bond
is registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose of
receiving payment and for all other purposes, and neither the City nor the Bond Registrar shall be
affected by any notice to the contrary.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts,
conditions and things required by the Constitution and laws of the State of Minnesota to be done, to
exist, to happen and to be performed precedent to and in the issuance of this Bond in order to make this
Bond a valid and binding general obligation of the City according to its terms, have been done, do exist,
have happened and have been performed in regular and due form as so required; that prior to the
issuance hereof the City has pledged and appropriated to a sinking fund established for the payment of
the Bonds tax increments to be derived by the City from the Districts; that, if necessary for the payment
of principal and interest on the Bonds, ad valorem taxes are required to be levied upon all taxable
property in the City, which levy is not limited as to rate or amount; and that the issuance of this Bond
does not cause the indebtedness of the City to exceed any constitutional or statutory limitation.
This Bond shall not be valid or become obligatory for any purpose or be entitled to any
security or benefit under the Resolution until the Certificate of Authentication hereon shall have been
executed by the Bond Registrar by the manual signature of the Bond Registrar, or in the event the City
Finance Director is no longer acting as Bond Registrar, one of the authorized representatives of the Bond
Registrar.
IN WITNESS WHEREOF, the City of Edina, Hennepin County, Minnesota, by its City
Council, has caused this Bond to be executed by the facsimile signatures of the Mayor and the City
Manager and has caused this Bond to be dated as of the date set forth below.
Date of Authentication:
CITY OF EDINA
City Manager Mayor
CERTIFICATE OF AUTHENTICATION
Page 4
Minutesfidina City CouncilNovember 6,2000
This is one of the Bonds delivered pursuant to the Resolution mentioned within.
BY_ City Finance Director, as Bond Registrar
The following abbreviations, when used in the inscription on the face of this Bond, shall
be construed as though they were written out in full according to applicable laws or regulations:
TEN COM - - as tenants UNIF TRANS MJN ACT.. ..... Custodian.. ......
in common (Cust) (Minor)
TEN ENT - - as tenants
by the entireties
under Uniform Transfers to Minors
Act ......................
(State)
JT TEN - - as joint tenants
with right of
survivorship and
not as tenants in
common
Additional abbreviations may also be used.
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and hereby
irrevocably constitutes and appoints
attorney to transfer the within Bond on the books kept for registration thereof, with full power of
substitution in the premises.
Dated:
PLEASE INSERT SOCIAL SECURITY
OR OTHER IDENTIFYING NUMBER
OF ASSIGNEE:
NOTICE: The signature(s) to
it appears upon the face of the within Bond in every
particular, without alteration, enlargement or any
this assignment must correspond with the name as
I I change whatsoever.
Signature(s) must be guaranteed by an
“eligible guarantor institution”
meeting the requirements of the
Bond Registrar, which requirements
include membership or participation
in the Securities Transfer Association
Medalion Program (STAMP) or such
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Minutes/Edina Citv Council/November 6,2000
other “signature guaranty program,’
as may be determined by the Bond
Registrar in addition to or in
substitution for STAMP, all in
accordance with the Securities
Exchange Act of 1934, as amended.
Section 3. Bond Terms, Execution and Delivery.
3.01. Maturities, Interest Rates, Denominations, Pavment, Dating of Bonds. The City
shall forthwith issue and deliver the Bonds, which shall be denominated “General Obligation Tax
Increment Refunding Bonds, Series 2OOOC.” The Bonds shall be dated as of November 29,2000, shall be
issuable in the denominations of $5,000 or any integral multiple thereof, shall mature on February 1 in
the years and amounts set forth below, and Bonds maturing in such years and amounts shall bear
interest from date of issue until paid or duly called for redemption at the rates per annum set forth
opposite such years and amounts as follows:
YEAR AMOUNT RATE YEAR AMOUNT RATE
2002 1,070,000 4.50 2007 2,490,000 4.50
2003 1~25,000 4.50 2008 3,060,000 4.60
2004 1,460,000 4.50 2009 3,255,000 4.65
2005 1,505,000 4.50
2006 1,655,000 4.50
The Bonds shall be issuable only in fully registered form, of single maturities. The
interest thereon and, upon surrender of each Bond at the principal office of the Registrar described
herein, the principal amount thereof, shall be payable by check or draft issued by the Registrar. Each
Bond shall be dated by the Registrar as of the date of its authentication.
3.02. Interest Pavment Dates. Interest on the Bonds shall be payable on February 1 and
August 1 in each year, commencing August 1,2001, to the owners thereof as such appear of record in the
bond register as of the close of business on the fifteenth day of the immediately preceding month,
whether or not such day is a business day. Interest on the Bonds will be computed on the basis of a 360-
day year consisting of twelve 30-day months and will be rounded pursuant to the rules of the Municipal
Securities Rulemaking Board.
3.03. Registration. The City shall appoint, and shall maintain, a bond registrar, transfer
agent and paying agent (the Registrar). The effect of registration and the rights and duties of the City
and the Registrar with respect thereto shall be as follows:
(a) Register. The Registrar shall keep at its principal office a bond register in which the
Registrar shall provide for the registration of ownership of Bonds and the registration of
transfers and exchanges of Bonds entitled to be registered, transferred or exchanged.
@) Transfer of Bonds. Upon surrender to the Registrar for transfer of any Bond duly
endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in
form satisfactory to the Registrar, duly executed by the registered owner thereof or by an
attorney duly authorized by the registered owner in writing, the Registrar shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more new Bonds of a like
aggregate principal amount and maturity, as requested by the transferor. The Registrar may,
however, close the books for registration of any transfer after the fifteenth day of the month
preceding each interest payment date and until such interest payment date.
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MinutesBdina Citv Council/November 6,2000
(c) Exchange of Bonds. Whenever any Bond is surrendered by the registered owner for
exchange, the Registrar shall authenticate and deliver one or more new Bonds of a like aggregate
principal amount, interest rate and maturity, as requested by the registered owner or the owner’s
attorney duly authorized in writing.
(d) Cancellation. All Bonds surrendered upon any transfer or exchange shall be
promptly cancelled by the Registrar and thereafter disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When any Bond is presented to the Registrar
for transfer, the Registrar may refuse to transfer the same until it is satisfied that the
endorsement on such Bond or separate instrument of transfer is valid and genuine and that the
requested transfer is legally authorized. The Registrar shall incur no liability for its refusal, in
good faith, to make transfers which it, in its judgment, deems improper or unauthorized.
(f) Persons Deemed Owners. The City and the Registrar may treat the person in whose
name any Bond is at any time registered in the bond register as the absolute owner of such Bond,
whether such Bond shall be overdue or not, for the purpose of receiving payment of, or on
account of, the principal of and interest on such Bond and for all other purposes, and all such
payments so made to any such registered owner or upon the owner’s order shall be valid and
effectual to satisfy and discharge the liability of the City upon such Bond to the extent of the sum
or sums so paid.
(g) Taxes, Fees and Charges. For every transfer or exchange of Bonds (except for an
exchange upon a partial redemption of a Bond), the Registrar may impose a charge upon the
owner thereof sufficient to reimburse the Registrar for any tax, fee or other governmental charge
required to be paid with respect to such transfer or exchange.
(h) Mutilated, Lost, Stolen or Destroved Bonds. In case any Bond shall become mutilated
or be lost, stolen or destroyed, the Registrar shall deliver a new Bond of like amount, number,
interest rate, maturity date and tenor in exchange and substitution for and upon cancellation of
any such mutilated Bond or in lieu of and in substitution for any such Bond lost, stolen or
destroyed, upon the payment of the reasonable expenses and charges of the Registrar in
connection therewith; and, in the case of a Bond lost, stolen or destroyed, upon receipt by the
Registrar of evidence satisfactory to it that such Bond was lost, stolen or destroyed, and of the
ownership thereof, and upon receipt by the Registrar of an appropriate bond or indemnity in
form, substance and amount satisfactory to it, in which both the City and the Registrar shall be
named as obligees. All Bonds so surrendered to the Registrar shall be cancelled by it and
evidence of such cancellation shall be given to the City. If the mutilated, lost, stolen or destroyed
Bond has already matured or been called for redemption in accordance with its terms, it shall not
be necessary to issue a new Bond prior to payment.
3.04. Appointment of Initial Registrar. The City hereby appoints the City Finance
Director, as the initial Registrar. In the event that the City determines to discontinue the book
entry-only system for the Bonds as described in paragraph (c) of Section 3.07, or DTC, as defined in
Section 3.07, determines to discontinue providing its services with respect to the Bonds and a new
securities depository is not appointed for the Bonds, the City will designate a suitable bank or trust
company to act as successor Registrar if the City Finance Director is then acting as Registrar. The City
reserves the right to remove any Registrar upon thirty (30) days’ notice and upon the appointment of a
successor Registrar, in which event the predecessor Registrar shall deliver all cash and Bonds in its
possession to the successor Registrar.
3.05. Redemption. Bonds maturing in the years 2002 through 2005 are payable on their
respective stated maturity dates without option of prior payment, but Bonds maturing in 2006 through
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Minutes/Edina City CounciVNovember 6,2000
2009’are each subject to redemption, at the option of the City and in whole or in part, and if in part, in
the maturities selected by the City and, within any maturity, in $5,000 principal amounts selected by the
Registrar by lot, on February 1, 2005 and on any date thereafter, at a redemption price equal to the
principal amount thereof to be redeemed plus accrued interest to the date of redemption.
At least thirty days prior to the date set for redemption of any Bond, the City shall cause
notice of the call for redemption to be mailed to the Registrar and to the registered owner of each Bond
to be redeemed, but no defect in or failure to give such mailed notice of redemption shall affect the
validity of proceedings for the redemption of any Bond not affected by such defect or failure. The notice
of redemption shall specify the redemption date, redemption price, the numbers, interest rates and
CUSLP numbers of the Bonds to be redeemed and the place at which the Bonds are to be surrendered for
payment, which is the principal office of the Registrar. Official notice of redemption having been given
as aforesaid, the Bonds or portions thereof so to be redeemed shall, on the redemption date, become due
and payable at the redemption price therein specified and from and after such date (unless the City shall
default in the payment of the redemption price) such Bonds or portions thereof shall cease to bear
interest.
Bonds in a denomination larger than $5,000 may be redeemed in part in any integral
multiple of $5,000. The owner of any Bond redeemed in part shall receive without charge, upon
surrender of such Bond to the Registrar, one or more new Bonds in authorized denominations equal in
principal amount to be unredeemed portion of the Bond so ’surrendered.
3.06. Preparation and Delivery. The Bonds shall be prepared under the direction of the
City Manager and shall be executed on behalf of the City by the signatures of the Mayor and the City
Manager; provided that said signatures may be printed, engraved, or lithographed facsimiles thereof. In
case any officer whose signature, or a facsimile of whose signature, shall appear on the Bonds shall cease
to be such officer before the delivery of any Bond, such signature or facsimile shall nevertheless be valid
and sufficient for all purposes, the same as if such officer had remained in office until delivery.
Notwithstanding such execution, no Bond shall be valid or obligatory for any purpose or entitled to any
security or benefit under this Resolution unless and until a certificate of authentication on such Bond has
been duly executed by the manual signature of the Registrar, or in the event the City Finance Director is
no longer acting as Registrar, an authorized representative of the Registrar. Certificates of
authentication on different Bonds need not be signed by the same representative. The executed
certificate of authentication on each Bond shall be conclusive evidence that it has been authenticated and
delivered under this Resolution. When the Bonds have been so executed and authenticated, they shall be
delivered by the City Manager to the Purchaser upon payment of the purchase price in accordance with
the contract of sale heretofore made and executed, and the Purchaser shall not be obligated to see to the
application of the purchase price.
3.07. Securities Depository. (a) For purposes of this Section the following terms shall
have the following meanings:
“Beneficial Owner,, shall mean, whenever used with respect to a Bond, the person in
whose name such Bond is recorded as the beneficial owner of such Bond by a Participant on the records
of such Participant, or such person’s subrogee.
“Cede & Co.” shall mean Cede & Co., the nominee of DTC, and any successor nominee of
DTC with respect to the Bonds.
‘’DTCYy shall mean The Depository Trust Company of New York, New York.
“Participant” shall mean any broker-dealer, bank or other financial institution for which
DTC holds Bonds as securities depository.
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MinutesEdina Citv Council/November 6,2000
“Representation Letter” shall mean the Representation Letter from the City to DTC
previously executed by the City and on file with DTC.
(b) The Bonds shall be initially issued as separately authenticated fully registered bonds,
and one Bond shall be issued in the principal amount of each stated maturity of the Bonds. Upon initial
issuance, the ownership of such Bonds shall be registered in the bond register in the name of Cede & Co.,
as nominee of DTC. The Registrar and the City may treat DTC (or its nominee) as the sole and exclusive
owner of the Bonds registered in its name for the purposes of payment of the principal of or interest on
the Bonds, selecting the Bonds or portions thereof to be redeemed, if any, giving any notice permitted or
required to be given to registered owners of Bonds under this resolution, registering the transfer of
Bonds, and for all other purposes whatsoever; and neither the Registrar nor the City shall be affected by
any notice to the contrary. Neither the Registrar nor the City shall have any responsibility or obligation
to any Participant, any person claiming a beneficial ownership interest in the Bonds under or through
DTC or any Participant, or any other person which is not shown’on the bond register as being a
registered owner of any Bonds, with respect to the accuracy of any records maintained by DTC or any
Participant, with respect to the payment by DTC or any Participant of any amount with respect to the
principal of or interest on the Bonds, with respect to any notice which is permitted or required to be
given to owners of Bonds under this resolution, with respect to the selection by DTC or any Participant
of any person to receive payment in the event of a partial redemption of the Bonds, or with respect to any
consent given or other action taken by DTC as registered owner of the Bonds. So long as any Bond is
registered in the name of Cede & Co., as nominee of DTC, the Registrar shall pay all principal of and
interest on such Bond, and shall give all notices with respect to such Bond, only to Cede & Co. in
accordance with the Representation Letter, and all such payments shall be valid and effective to fully
satisfy and discharge the City’s obligations with respect to the principal of and interest on the Bonds to
the extent of the sum or sums so paid. No person other than DTC shall receive an authenticated Bond for
each separate stated maturity evidencing the obligation of the City to make payments of principal and
interest. Upon delivery by DTC to the Registrar of written notice to the effect that DTC has determined
to substitute a new nominee in place of Cede & Co., the Bonds will be transferable to such new nominee
in accordance with paragraph (d) hereof.
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(c) In the event the City determines that it is in the best interest of the Beneficial Owners
that they be able to obtain Bonds in the form of bond certificates, the City may notify DTC and the
Registrar, whereupon DTC shall notify the Participants of the availability through DTC of Bonds in the
form of certificates. In such event, the Bonds will be transferable in accordance with paragraph (d)
hereof. DTC may determine to discontinue providing its services with respect to the Bonds at any time
by giving notice to the City and the Registrar and discharging its responsibilities with respect thereto
under applicable law. In such event the Bonds will be transferable in accordance with paragraph (d)
hereof.
(d) In the event that any transfer or exchange of Bonds is permitted under paragraph (b)
or (c) hereof, such transfer or exchange shall be accomplished upon receipt by the Registrar of the Bonds
to be transferred or exchanged and appropriate instruments of transfer to the permitted transferee in
accordance with the provisions of this resolution. In the event Bonds in the form of certificates are
issued to owners other than Cede & Co., its successor as nominee for DTC as owner of all the Bonds, or
another securities depository as owner of all the Bonds, the provisions of this resolution shall also apply
to all matters relating thereto, including, without limitation, the printing of such Bonds in the form of
bond certificates and the method of payment of principal of and interest on such Bonds in the form of
bond certificates.
Section 4. Security Provisions.
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Minutes/Edina CiW Council/November 6,2000 , are
irrevocably appropriated to pay and redeem the Refunded Bonds on or before February 1, 2001. Any
accrued interest on the Bonds shall be deposited in the Bond Fund created pursuant to Section 4.02
hereof.
4.01. Use of Proceeds. The proceeds of the Bonds in the amount of $
4.02. General obligation Tax Increment Refunding Bond Fund. The Bonds shall be
payable from a separate “2000C General Obligation Tax Increment Refunding Bond Fund” (the “Bond
Fund”) which shall be created and maintained on the books of the City as a separate debt redemption
fund until the Bonds, and all interest thereon, are fully paid. There shall be credited to the Bond Fund
the following:
(a) Any amount initially deposited therein pursuant to Section 4.01 hereof.
(b) All proceeds of all taxes levied and all other money which may at any time be received
for or appropriated to the payment of such bonds and interest, including the tax increment herein
pIedged and appropriated to the Bond Fund, all collections of any ad valorem taxes levied for the
payment of the Bonds, and all other moneys received for or appropriated to the payment of the Bonds
and interest thereon.
(c) Any other funds appropriated by the Council for the payment of the Bonds.
4.03. Pledge of Tax Increment. The City hereby irrevocably pledges to the Bond Fund
tax increments derived from tax increment financing districts of the Housing and Redevelopment
Authority of Edina (the “EIRA”) designated by Hennepin County as Nos. 1203 (Centennial Lakes), 1201
(Edinborough) and 1200 (50th and France), which are received by the City from the HRA to pay the
Bonds. Such tax increments shall be deposited in the Bond Fund in an amount sufficient to pay all
principal and interest when due on the Bonds. Nothing herein shall preclude the City or the EIRA from
hereafter making further pledges and appropriations of the tax increments pledged for the payment of
the Bonds or for the payment of other obligations of the Issuer or the HRA.
4.04. Full Faith and Credit Pledged. The full faith and credit of the City are irrevocably
pledged for the prompt and full payment of the principal of and the interest on the Bonds, as such
principal and interest comes due. If the money on hand in the Bond Fund should at any time be
insufficient for the payment of principal and interest then due, this City shall pay the principal and
interest out of any fund of the City, and such other fund or funds shall be reimbursed therefor when
sufficient money is available to the Bond Fund. If on October 1 in any year the sum of the balance in the
Bond Fund plus the available tax increment on hand and estimated to be received or before the end of
the following calendar year is not sufficient with any ad valorem taxes heretofore levied in accordance
with the provisions of this resolution, to pay when due all principal and interest become due on all Bonds
payable therefrom in said following calendar year, or the Bond Fund has incurred a deficiency in the
manner provided in this Section 4.04, a direct, irrepealable, ad valorem tax shall be levied on all taxable
property within the corporate limits of the City for the purpose of restoring such accumulated or
anticipated deficiency in an amount at least 5% in excess of amount needed to make good the deficiency.
Section 5. Defeasance. When any Bond has been discharged as provided in this Section 5,
all pledges, covenants and other rights granted by this resolution to the holders of such Bonds shall cease,
and such Bonds shall no longer be deemed outstanding under this Resolution. The City may discharge
its obligations with respect to any Bond which is due on any date by irrevocably depositing with the
Registrar on or before that date a sum sufficient for the payment thereof in full; or, if any Bond should
not be paid when due, the City may nevertheless discharge its obligations with respect thereto by
depositing with the Registrar 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 to any Bonds,
subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing
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MinutesEdha City Council/November 6,2000
irrevocably in escrow, with a bank qualified by law as an escrow agent for this purpose, cash or
securities which are authorized by law to be so deposited, bearing interest payable at such times and at
such rates and maturing on such dates as shall be required, without reinvestment, to pay all principal
and interest to become due thereon to maturity or, if notice of redemption as herein required has been I duly provided for, to such earlier redemption date.
Section 6. Countv Auditor Registration, Certification of Proceedinm, Investment of
Monev, Arbitrage, Official Statement and Fees.
6.01. Countv Auditor Registration. The City Manager is hereby authorized and directed
to file a certified copy of this Resolution with the County Auditor of Hennepin County, together with
such other information as the County Auditor shall require, and to obtain from said County Auditor a
certificate that the Bonds have been entered on his bond register as required by law.
6.02. Certification of Proceedings. The officers of the City and the County Auditor of
Hennepin County are hereby authorized and directed to prepare and furnish to the Purchaser and to
Dorsey & Whitney LLP, Bond Counsel to the City, 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 marketability of the Bonds as the same appear from the books and records under their
custody and control or as otherwise known to them, and all such certified copies, certificates and
affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts
recited therein.
6.03. Covenant. The City covenants and agrees with the holders from time to time of the
Bonds that it will not take or permit to be taken by any of its officers, employees or agents any action
which would cause the interest on the Bonds to become subject to taxation under the Internal Revenue
Code of 1986, as amended (the “Code”), and Regulations promulgated thereunder (the Regulations), as
such are enacted or promulgated and in effect on the date of issue of the Bonds, and covenants to take
any and all actions within its powers to ensure that the interest on the Bonds will not become subject to
taxation under such Code and Regulations. The project financed by the bonds refunded by the Prior
Bonds is available for use by members of the general public on a substantially equal basis. The City will
not enter into any lease, use agreement or other contract respecting the project financed by the bonds
refunded by the Prior Bonds or security for the payment of the Bonds which would cause the Bonds to be
considered “private activity bonds” or “private loan bonds” pursuant to Section 141 of the Code.
6.04. Arbitrage Rebate. The City shall take such actions as are required to comply with
the arbitrage rebate requirements of paragraphs (2) and (3) of Section 148(f) of the Code.
6.05. Arbitrage Certification. The Mayor and the City Manager, being the officers of the
City charged with the responsibility for issuing the Bonds pursuant to this resolution, are authorized and
directed to execute and deliver to the Purchaser a certification in accordance with the provisions of
Section 148 of the Code, and the Regulations, stating the facts, estimates and circumstances in existence
on the date of issue and delivery of the Bonds which make it reasonable to expect that the proceeds of the
Bonds will not be used in a manner that would cause the Bonds to be arbitrage bonds within the meaning
of the Code and Regulations.
6.06. Official Statement. The Official Statement relating to the Bonds, dated October 26,
2000, prepared and distributed on behalf of the City by Ehlers & Associates, Inc., is hereby approved.
Ehlers & Associates, Inc. is hereby authorized on behalf of the City to prepare and distribute to the
Purchaser a supplement to the Official Statement listing the offering price, the interest rates, selling
compensation, delivery date, the underwriters and such other information relating to the Certificates
required to be included in the Official Statement by Rule 15c2-12 adopted by the Securities and
Exchange Commission under the Securities Exchange Act of 1934. Within seven business days from the
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MinutesBdina City CounciVNovember 6,2000
date hereof, the City shall deliver to the Purchaser a reasonable number of copies of the Official
Statement and such supplement. The officers of the City are hereby authorized and directed to execute
such certificates as may be appropriate concerning the accuracy, completeness and sufficiency of the
Official Statement. I
Section 7. Continuing Disclosure.
(a) Purpose and Beneficiaries. To provide for the public availability of certain
information relating to the Bonds and the security therefor and to permit the original purchaser and
other participating underwriters in the primary offering of the Bonds to comply with amendments to
Rule 15c2-12 promulgated by the Securities and Exchange Commission (the “SEC”) under the Securities
Exchange Act of 1934 (17 C.F.R. 0 240.15~2-12), relating to continuing disclosure (as in effect and
interpreted from time to time, the c‘Ruleyy), which will enhance the marketability of the Bonds, the City
hereby makes the following covenants and agreements for the benefit of the Owners (as hereinafter
defined) from time to time of the Outstanding Bonds. The City is the only “obligated person” in respect
of the Bonds within the meaning of the Rule for purposes of identifying the entities in respect of which
continuing disclosure must be made.
If the City fails to comply with any provisions of this Section 7, any person aggrieved
thereby, including the Owners of any Outstanding Bonds, may take whatever action at law or in equity
may appear necessary or appropriate to enforce performance and observance of any agreement or
covenant contained in this Section 7, including an action for a writ of mandamus or specific
performance. Direct, indirect, consequential and punitive damages shall not be recoverable for any
default hereunder to the extent permitted by law. Notwithstanding anything to the contrary contained
herein, in no event shall a default under this Section 7 constitute a default under the Bonds or under any
other provision of this resolution. I As used in this Section 7, ccOwneryy or “Bondowner” means, in respect of a Bond, the
registered owner or owners thereof appearing in the bond register maintained by the Registrar or any
“Beneficial Owner” (as hereinafter defined) thereof, if such Beneficial Owner provides to the Registrar
evidence of such beneficial ownership in form and substance reasonably satisfactory to the Registrar. As
used herein, “Beneficial Owneryy means, in respect of a Bond, any person or entity which (i) has the
power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, such Bond
(including persons or entities holding Bonds through nominees, depositories or other intermediaries), or
(b) is treated as the owner of the Bond for federal income tax purposes. As used herein, “Outstanding”
when used as of any particular time with reference to Bonds means all Bonds theretofore, or thereupon
being, authenticated and delivered by the Registrar under this Resolution except (i) Bonds theretofore
canceled by the Registrar or surrendered to the Registrar for cancellation; (ii) Bonds with respect to
which the liability of the City has been discharged in accordance with Section 5 hereof; and (iii) Bonds
for the transfer or exchange or in lieu of or in substitution for which other Bonds shall have been
authenticated and delivered by the Registrar pursuant to this Resolution.
(b) Information To Be Disclosed. The City will provide, in the manner set forth in
subsection (c) hereof, either directly or indirectly through an agent designated by the City, the following
information at the following times:
(1) on or before 365 days after the end of each fiscal year of the Cityy commencing with
the fiscal year ending December 31, 2000 the following financial information and operating data in
respect of the City (the “Disclosure Information,,):
(A) the audited financial statements of the City for such fiscal year, accompanied
by the audit report and opinion of the accountant or government auditor relating thereto,
as permitted or required by the laws of the State of Minnesota, containing balance sheets
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MinutesEdha City Council/November 6,2000
as of the end of such fiscal year and a statement of operations, changes in fund balances
and cash flows for the fiscal year then ended, showing in comparative form such figures
for the preceding fiscal year of the City, prepared in accordance with generally accepted
accounting principles promulgated by the Financial Accounting Standards Board as
modified in accordance with the governmental accounting standards promulgated by the
Governmental Accounting Standards Board or as otherwise provided under Minnesota
law, as in effect from time to time, or, if and to the extent such financial statements have
not been prepared in accordance with such generally accepted accounting principles for
reasons beyond the reasonable control of the City, noting the discrepancies therefrom and
the effect thereof, and certified as to accuracy and completeness in all material respects
by the fiscal officer of the City; and
(B) To the extent not included in the financial statements referred to in
paragraph (A) hereof, the information for such fiscal year or for the period most recently
available of the type set forth below, which information may be unaudited, but is to be
certified as to accuracy and completeness in all material respects by the City’s financial
officer to the best of his or her knowledge, which certification may be based on the
reliability of information obtained from governmental or third party sources:
Most recent population estimate; City Property Values; City
Indebtedness; City Tax Rates; Levies and Collections; and Current
General Fund Budget
Notwithstanding the foregoing paragraph, if the audited financial statements are not
available by the date specified, the City shall provide on or before such date unaudited financial
statements in the format required for the audited financial statements as part of the Disclosure
Information and, within 10 days after the receipt thereof, the City shall provide the audited financial
statements.
Any or all of the Disclosure Information may be incorporated by reference, if it is
updated as required hereby, from other documents, including official statements, which have been
submitted to each of the repositories hereinafter referred to under subsection (b) or the SEC. If the
document incorporated by reference is a final official statement, it must be available from the Municipal
Securities Rulemaking Board. The City shall clearly identify in the Disclosure Information each
document so incorporated by reference.
If any part of the Disclosure Information can no longer be generated because the
operations of the City have materially changed or been discontinued, such Disclosure Information need
no longer be provided if the City includes in the Disclosure Information a statement to such effect;
provided, however, if such operations have been replaced by other City operations in respect of which
data is not included in the Disclosure Information and the City determines that certain specified data
regarding such replacement operations would be a Material Fact (as defined in paragraph (2) hereof),
then, from and after such determination, the Disclosure Information shall include such additional
specified data regarding the replacement operations.
If the Disclosure Information is changed or this Section 7 is amended as permitted by this
paragraph (b)(l) or subsection (d), then the City shall include in the next Disclosure Information to be
delivered hereunder, to the extent necessary, an explanation of the reasons for the amendment and the
effect of any change in the type of financial information or operating data provided.
(2) In a timely manner, notice of the occurrence of any of the following events which is a
Material Fact (as hereinafter defined):
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Minutes/Edina City CounciVNovember 6,2000
(A)
(B) Non-payment related defaults;
(C)
(D)
(E) 0
(G)
(H) Bondcalls;
(I) Defeasances;
(J)
(K) Rating changes.
Principal and interest payment delinquencies;
Unscheduled draws on debt service reserves reflecting financial difficulties;
Unscheduled draws on credit enhancements reflecting financial difficulties;
Substitution of credit or liquidity providers, or their failure to perform;
Adverse tax opinions or events affecting the tax-exempt status of the security;
Modifications to rights of security holders;
Release, substitution, or sale of property securing repayment of the securities; and
As used herein, a “Material Fact” is a fact as to which a substantial likelihood exists that a
reasonably prudent investor would attach importance thereto in deciding to buy, hold or sell a Bond or,
if not disclosed, would significantly alter the total information otherwise available to an investor from
the Official Statement, information disclosed hereunder or information generally available to the public.
Notwithstanding the foregoing sentence, a “Material Fact” is also an event that would be deemed
cLmaterial~y for purposes of the purchase, holding or sale of a Bond within the meaning of applicable
federal securities laws, as interpreted at the time of discovery of the occurrence of the event.
(3) In a timely manner, notice of the occurrence of any of the following events or conditions:
(A) the failure of the City to provide the Disclosure Information required under
paragraph (b)(l) at the time specified thereunder;
(B) the amendment or supplementing of this Section 7 pursuant to subsection (d),
together with a copy of such amendment or supplement and any explanation provided by
the City under subsection (d)(2);
(C) the termination of the obligations of the City under this Section 7 pursuant to
subsection (a);
(D) any change in the accounting principles pursuant to which the financial
statements constituting a portion of the Disclosure Information are prepared; and
(E) any change in the fiscal year of the City.
(c) Manner of Disclosure. The City agrees to make available the information described in
subsection (b) to the following entities by telecopy, overnight delivery, mail or other means, as
appropriate:
(1) the information described in paragraph (1) of subsection (b), to each then nationally
recognized municipal securities information repository under the Rule and to any state information
depository then designated or operated by the State of Minnesota as contemplated by the Rule (the
“State Depository’,), if any;
(2) the information described in paragraphs (2) and (3) of subsection (b), to the Municipal
Securities Rulemaking Board and to the State Depository, if any; and
(3) the information described in subsection (b), to any rating agency then maintaining a rating of
the Bonds and, at the expense of such Bondowner, to any Bondowner who requests in writing such
information, at the time of transmission under paragraphs (1) or (2) of this subsection (c), as the case
may be, or, if such information is transmitted with a subsequent time of release, at the time such
information is to be released.
(d) Term: Amendments: Interpretation.
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MinutesEdha Citv Council/November 6,2000
(1) The covenants of the City in this Section 7 shall remain in effect so long as any Bonds are
Outstanding. Notwithstanding the preceding sentence, however, the obligations of the City under this
Section 7 shall terminate and be without further effect as of any date on which the City delivers to the
Registrar an opinion of Bond Counsel to the effect that, because of legislative action or final judicial or
administrative actions or proceedings, the failure of the City to comply with the requirements of this
Section 7 will not cause participating underwriters in the primary offering of the Bonds to be in violation
of the Rule or other applicable requirements of the Securities Exchange Act of 1934, as amended, or any
statutes or laws successory thereto or amendatory thereof.
(2) This Section 7 (and the form and requirements of the Disclosure Information) may be
amended or supplemented by the City from time to time, without notice to (except as provided in
paragraph (c) (3) hereof) or the consent of the Owners of any Bonds, by a resolution of the City Council
filed in the office of the City Clerk of the City accompanied by an opinion of Bond Counsel, who may
rely on certificates of the City and others and the opinion may be subject to customary qualifications, to
the effect that: (i) such amendment or supplement (a) is made in connection with a change in
circumstances that arises from a change in law or regulation or a change in the identity, nature or status
of the City or the type of operations conducted by the City, or @) is required by, or better complies with,
the provisions of paragraph @)(5) of the Rule; (ii) this Section 7 as so amended or supplemented would
have complied with the requirements of paragraph @)(5) of the Rule at the time of the primary offering
of the Bonds, giving effect to any change in circumstances applicable under clause @)(a) and assuming
that the Rule as in effect and interpreted at the time of the amendment or supplement was in effect at the
time of the primary offering; and (iii) such amendment or supplement does not materially impair the
interests of the Bondowners under the Rule.
If the Disclosure Information is so amended, the City agrees to provide, contemporaneously with
the effectiveness of such amendment, an explanation of the reasons for the amendment and the effect, if
any, of the change in the type of financial information or operating data being provided hereunder.
(3) This Section 7 is entered into to comply with the continuing disclosure provisions of the Rule
and should be construed so as to satisfy the requirements of paragraph (b)(5) of the Rule.
Section 8. Redemption of Refunded Bonds. The City hereby calls the Refunded Bonds
for redemption on or before February 1, 2001. The Finance Director shall cause notice of the
redemption of the Refunded Bonds to be given in the manner required by the resolution authorizing the
Prior Bonds.
Mayor
Attest:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by Member Hovland, and
upon vote being taken thereon, the following voted in favor thereof: Faust, Hovland, Johnson, Maetzold. All
voted aye, whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor
which signature was attested by the City Clerk.
Resolution adopted.
STREET, CURB AND GUTTER IMPROVEMENT NO. A-184, APPROVED; RESOLUTION NO.
2000-111, LEVYING SPECIAL ASSESSMENT Affidavits of Notice were presented, approved and
ordered placed on file. Due notice having been given, a public hearing was conducted and action
taken as recorded on the following proposed assessment.
Assistant Engineer Houle explained that A-184, street, curb and gutter improvement was continued
from October 17,2000, due to homes along the 5100 block of Oxford being overcharged. The homes in
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Minutes/Edina City CounciVNovernber 6,2000
this area had concrete curb and gutter and should not be charged for new concrete curb and gutter.
The affected residents were renotified.
The sod located at 5313 Interlachen Boulevard also needs replacing in the spring of 2001. This will be
completed in 2001. I
No written or resident comments have been received.
1. STREET, CURB AND GUTT'ER IMPROVEMENT NO. A-184
Location: BROOKSIDE HEIGHTS NEIGHBORHOOD
Analysis of Assessment for Street, Curb and Gutter Improvement No. A-184 showed 166 assessable
lots units for Brookside Heights area at $1,223.33 per lot and 59 assessable units for curb and gutter at
$909.10. The term of the special assessment shall be for ten years beginning in the year 2001.
Member Hovland made a motion seconded by Member Faust closing the public hearing of
Improvement No. A-184.
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
Member Faust introduced the following resolution and moved its adoption:
RESOLUTION NO. 2000-111
A RESOLUTION LEVYING SPECIAL ASSESSMENTS FOR BROOKSIDE
HEIGHTS NEIGHBORHOOD -
IMPROVEMENT PROJECT NO. A-184
WHEREAS, pursuant to proper notice duly given as required by law, the Edina city Council has
met and heard and passed upon all written and oral objections to the proposed assessments for
improvement:
STREET, CURB AND GUTI'ER IMPROVEMENT NO. A184
BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows:
Each assessment as set forth in the assessment rolls on file in the office of the City
Clerk for each aforementioned improvement is hereby accepted and shall constitute the special
assessment against the lands named therein, and each tract of land therein included is hereby
found to be benefited by the improvement in the amount of the assessment levied against it.
The assessment shall be payable in equal installments, the first of said installments,
together with interest at a rate of seven and one-half percent (7 Y2%) per annum, on the entire
assessment from the date hereof to December 31,2001, to be payable with the general taxes for the
year 2001. To each subsequent installment shall be added interest at the above rate for one year on
all then unpaid installments. The number of such annual installments shall be as follows:
1.
2.
NAME OFIMPROVEMENT NO. OF INSTALLMENTS
Street, Curb and Gutter Improvement No. A-184, Levy No. 14965 10 years
3. The owners of any property so assessed may, at any time prior to certification of
assessment to the County Auditor, pay the whole of the assessment on such property, with interest
accrued to the date of payment, to the City Treasurer, except that no interest shall be charged if the
entire assessment is paid within 30 days from the adoption of this resolution and they may, at any
time thereafter, pay to the City Treasurer the entire amount of the assessment remaining unpaid,
with interest accrued to December 31 of the year in which such payment is made. Such payment
must be made before November 15 or interest will be charged through December 31 or the next
succeeding year.
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Minutes/Edina City CounciVNovernber 6,2000
The clerk shall forthwith transmit a certified duplicate of this assessment to the
County Auditor to be extended on the property tax lists of the County. Such assessment shall be
collected and paid over in the same manner as other municipal taxes.
Motion for adoption of the resolution seconded by Member Hovland.
4.
Adopted this 6th day of November, 2000.
Rollcall:
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
I
RESOLUTION NO. 2000-113 VACATION OF UTILITY AND DRAINAGE EASEMENTS - LOT 3,
BLOCK 1, WATERMAN ADDITION Engineer Hoffman explained the developer of Waterman
Addition is requesting a vacation of a portion of a utility and drainage easement on Lot 3, Block 1,
Waterman Addition. Reliant Energy, NSP, Qwest, Time Warner and City staff have no objection to
this vacation request, however, drainage must be maintained across lot 3 from West to East. If any
utilities are discovered to be in the way of the home construction, it would be the responsibility of the - developer to relocate the utility.
No public comments were received.
Member Hovland made a motion seconded by Member Faust to close the public hearing.
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
Member Hovland introduced the following resolution and moved its approval.
RESOLUTION NO. 2000-113
A RESOLUTION VACATING UTILITY AND DRAINAGE EASEMENTS
LOT 3, BLOCK 1, WATERMAN ADDITION
WHEREAS, a motion of the City Council, on the 3rd day of October, 2000, fixed a date for a
public hearing on a proposed utility and drainage easement; and
WHEREAS, two weeks published and posted notice of said hearing was given and the
hearing was held on the 6th day of November, 2000, at which time all persons desiring to be heard
were given an opportunity to be heard thereon; and
WHEREAS, the Council deems it to be in the best interest of the City and of the public that
said easement vacation be made; and
WHEREAS, the Council considered the extent the vacation affects existing easements
within the area of the vacation and the extent to which the vacation affects the authority of any
person, corporation, or municipality owning or controlling electric, telephone or cable television
poles and lines, gas and sewer lines, or water pipes, mains an hydrants on or under the area of the
proposed vacation to continue maintaining the same, or to enter upon such easement area or
portion thereof vacated to maintain, repair, replace, remove or otherwise attend thereto;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Edina,
Hennepin County, Minnesota, that the following utility and drainage easements are hereby
vacated effective November 6,2000:
That part of Lot 3, Block 1, Waterman Addition, according to the recorded plat thereof, Hennepin
County, Minnesota described as follows:
Commencing at the southeast corner of said Lot 3; thence on an assumed bearing of
North 31 degrees 23 minutes 24 seconds West along the easterly line of said Lot 3, a
distance of 51.49 feet; thence South 87 degrees 41 minutes 47 seconds West a
distance of 25.00 feet to the point of beginning; thence continuing South 87 degrees
41 minutes 47 seconds West a distance of 75.00 feet; thence South 56 degrees 47
minutes 32 seconds East a distance of 40.68 feet; thence North 58 degrees 12 minutes
28 seconds East a distance of 48.00 feet to the point of beginning.
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Minutes/Edina Citv Council/November 6,2000
BE IT FURTHER RESOLVED that said vacation does not affect, and there are continued,
resenred, and retained, by the said resolution ordering the vacation, the following existing
easements and authority in, on and under the above vacated area.
The authority of Xcel Energy, USWest Communications, Time Warner Cable or Reliant
Energy to enter upon the above vacated area for the maintenance, replacement, repair and removal
of and for otherwise attending to, underground, conduit, manholes, cables, wires and poles
required for utility service now in, on or under the above vacated area.
BE IT FURTHER RESOLVED that the City Clerk is authorized and directed to cause a
notice of completion of proceedings to be prepared, entered in the transfer record of the County
Auditor, and filed with the County Recorder, in accordance with Minnesota Statutes, Section
412.851.
I
Adopted this 6fh day of November, 2000. Member Johnson seconded the motion.
Rollcall:
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
RESOLUTION NO. 2000-114 VACATING UTILITY AND DRAINAGE EASEMENTS - OAK
BEND LANE - MIRROR OAKS Engineer Hoffman explained the homebuilder on Lots 2 and 3,
Block 1, Mirror Oaks is using the lots to create one home. The side yard utility and drainage
easements between Lots 2 and 3 need to be vacated to accomplish the project. NSP, Reliant Energy,
Time Warner, Qwest and City staff support the vacation request. Should any utility conflict arise in
the field, the builders shall relocate the utility at their expense if it needs to be relocated.
No public comments were received.
Member Faust made a motion to close the public hearing seconded by Member Hovland.
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
Member Johnson introduced the following resolution and moved its adoption:
RESOLUTION NO. 2000-114
RESOLUTION VACATING UTILITY AND DRAINAGE EASEMENT
WHEREAS, a motion of the City Council, on the 1F day of October, 2000, fixed a date for a
public hearing on a proposed utility and drainage easement; and
WHEREAS, two weeks published and posted notice of said hearing was given and the
hearing was held on the 6th day of November, 2000, at which time all persons desiring to be heard
were given an opportunity to be heard thereon; and
WHEREAS, the Council deems it to be in the best interest of the City and of the public that
said easement vacation be made; and
WHEREAS, the Council considered the extent the vacation affects existing easements
within the area of the vacation and the extent to which the vacation affects the authority of any
person, corporation, or municipality owning or controlling electric, telephone or cable television
poles and lines, gas and sewer lines, or water pipes, mains an hydrants on or under the area of the
proposed vacation to continue maintaining the same, or to enter upon such easement area or
portion thereof vacated to maintain, repair, replace, remove or otherwise attend thereto;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Edina,
Hennepin County, Minnesota, that the following utility and drainage easements are hereby
vacated effective November 6,2000:
ON PORTION OF LOT 2 AND LOT 3, OAK BEND LANE - MIRROR OAKS
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MinutesBdina City CounciVNovember 6,2000
The South five (5) feet of Lot 2 and the North five (5) feet of Lot 3, lying between the
East ten (10) feet and the Westerly ten (10) feet of said Lots 2 and 3, Block 1,
MIRROR OAKS, Hennepin County, Minnesota.
BE IT FURTHER RESOLVED that said vacation does not affect, and there are continued,
reserved, and retained, by the said resolution ordering the vacation, the following existing
easements and authority in, on and under the above vacated area.
The authority of Xcel Energy, USWest Communications, Time Warner Cable or Reliant
Energy to enter upon the above vacated area for the maintenance, replacement, repair and removal
of and for otherwise attending to, underground, conduit, manholes, cables, wires and poles
required for utility service now in, on or under the above vacated area.
BE IT FURTHER RESOLVED that the City Clerk is authorized and directed to cause a
notice of completion of proceedings to be prepared, entered in the transfer record of the County
Auditor, and filed with the County Recorder, in accordance with Minnesota Statutes, Section
412.851.
I
Adopted this 6th day of November, 2000. Member Hovland seconded the motion.
Rollcall:
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
ORDINANCE NO. A-850 A-19 FINAL REZONING GRANTED - 4528 FRANCE AVENUE
/EDWARD AND LISA NOONAN) Planner Larsen explained at the October 3, 2000, Council
meeting, First Reading of Ordinance No. A-850 A-19 was granted for rezoning of 4528 France Avenue
South from R-1 to PCD-1, conditioned upon no restaurant or food related business being allowed.
Additionally, the Planning Commission recommended Final Rezoning approval conditioned upon
Watershed District permits being approved. The property, between Valvoline Rapid Oil Change and
Edina Cleaners and Launderers had been zoned a single dwelling unit district and is developed with
a one-story garage/warehouse on the westerly portion of the site. The proponents requested the
rezoning to a planned commercial district would like to construct a building for office and general
retail use. The proposed building would be constructed of brick and stucco and would have a full
basement walk out at the same level as the entrance to the existing building to be used for a parking
garage.
Council comments
Member Faust expressed concern with the public not knowing where parking was available on the
site. Planner Larsen said informative signage could be made a condition of granting second reading
to Ordinance No. A-850 A-19.
Member Johnson asked for further specifics on food not being allowed in the building. He asked if a
food brokerage business would be acceptable. Planner Larsen said that no food preparation or
serving of food would be allowed on the premises.
Member Hovland inquired about landscaping or lighting requirements in the urban area. He asked if
lighting would be downcast. Planner Larsen noted there is a some distance between buildings and he
believes lighting would not be an issue. He added that Mr. Noonan would be amenable to downcast
lighting.
Public comment
Sabrina Stenn, 1314 Marquette Avenue, speaking for Nick and Lisa Stenn, voiced concern with the
commercial development in a residential neighborhood. They have lived in the area for three years
and their home abuts the proposed development. Their main concern is traffic and she asked if it
could be studied before more development is proposed.
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MinutesEdha City CounciVNovember 6,2000
No further public comment was received.
Mayor Maetzold explained the Noonan proposal was iscussed at a DZ: llic hearing at the regular
Cokcil meeting of October 3,2000. He stated his belief that this will bi a good development for the
area and that the neighbors will be pleased.
Member Faust added the development further north from this development is controlled completely
by heapolis. Traffic in the area would be of concern to Edina, but control over the building is out
of our control. Member Faust inquired whether tenants for the building, are in place and when will
the building be completed. Mr. Ed Noonan said the building use is for offices and they would like to
start building in December 2000.
Member Johnson made a motion seconded by Mayor Maetzold to close the public hearing.
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
Member Johnson made a motion granting second reading to Ordinance No. 85OA-19 the Rezoning
from Single Dwelling Unit District to PCD-1 Planned Commercial District with three conditions,
1) No food establishments which require a license pursuant to the City Code will be permitted, 2)
watershed district permits and 3) signage affixed directing visitors to parking accessibility, as
follows:
EDINA ORDINANCE NO. 85OA-19
AN ORDINANCE AMENDING THE ZONING ORDINANCE
BY REZONING PROPERTY FROM R-1 SINGLE DWELLING UNIT DISTRICT
TO PLANNED COMMERCIAL DISTRICT PCD-1
THE CITY COUNCIL OF THE CITY OF EDINA ORDAINS
Section 1. Subsection-850.06 of Section 850 of the Edina City Code is amended by adding the
following thereto:
"The extent of the Planned Commercial District (PCD-1) is enlarged by the addition
of the following property:
That part of Block 20, WAVELAND PARK, commencing at a point in the West line
of France Avenue, distant 260 feet North from the South line of Section 7, Township
28 North, Range 24 West, of Fourth Principal Meridian; thence West parallel with
said South Section line, 150 feet; thence North parallel with France Avenue to
Northwesterly line of abandoned right of way of the Minneapolis Lyndale and
Minnetonka Railway Company; thence Northeasterly along said Northwesterly line
of said abandoned right of way to West line of France Avenue; thence South 249.25
feet to beginning. Except that part the foregoing Tract being herein after referred to
as Tract A described as follows: That part of said Tract A lying South of a line
bearing South 59 degrees 54'28" West from a point in the West line of France
Avenue, 145 feet North of the Southeast corner of said Tract A and East of a line
bearing North 0 degrees 18'54" West from a point in the South line of said Tract A,
77 feet Westerly of the Southeast corner of said Tract A, according to the plat thereof
on file or of record in the office of the Register of Deeds in and for said County.
The extent of the Single Dwelling District (R-I) is reduced by removing the
property described above from the Single Dwelling district."
Section 2.
publication according to the law.
Effective Date: This ordinance shall be in full force and effect upon adoption and
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MinutesFdina City Council/November 6,2000
Adouted this 6th dav of November, 2000.
Attest:
Mayor
Member Faust seconded the motion.
Rollcall:
Ayes: Faust, Hovland, Johnson, Maetzold
Ordinance adopted.
“HEARING DATE SET FOR NOVEMBER 21, 2000, FOR FINAL DEVELOPMENT PLAN -
CONCORDIA PROPERTIES - SOUTHDALE SHOPPING CENTER Motion made by Member
Johnson and seconded by Member Faust setting November 21, 2000, as hearing date for Final
Development Plan for Concordia Properties - Southdale Shopping Center.
Motion carried on rollcall vote - four ayes.
“AWARD OF BID FOR ROOmOP COOLING UNIT FOR EDINA CITY HALL COUNCIL
CHAMBERS Motion made by Member Johnson and seconded by Member Faust for award of bid
for replacement of rooftop cooling-only rooftop unit for the Council Chambers roof to
recommended low bidder, Northland Mechanical Contractors, Inc. at $17,730.00.
Motion carried on rollcall vote - four ayes.
*BID RETECTED FOR ONE NEW ICE RESURFACER FOR BRAEMAR ICE ARENA Motion made
by Member Johnson and seconded by Member Faust rejecting the sole bidder and encouraged
more competitive bids at a future bid opening.
Motion carried on rollcall vote - four ayes.
“APPEAL OF ADMINISTRATIVE PENALTY CASE NO. 00-019814 - CHICO’S OF THE
MIDWEST, INC., CONTINUED TO NOVEMBER 21,2000 Motion made by Member Johnson and
seconded by Member Faust to continue the Appeal of the Administrative Penalty Case No. 00-
019814 for Chico’s of the Midwest, Inc., to November 21,2000.
Motion carried on rollcall vote - four ayes.
LIQUOR LICENSE FEES REPORT APPROVED Police Chief Siitari explained that when on-sale
intoxicating liquor sales were approved in 1999, a license fee was adopted based on a survey of
surrounding communities. The $11,000 fee for intoxicating liquor licenses was at the high end of the
liquor fee survey. The fee was approved to ensure that Edina taxpayers would not subsidize the cost
of liquor licensing. Staff was directed to review the license fee after the first.year of operation when
actual costs could be used for comparison.
Police Department costs consist of investigation, inspection and enforcement. The Administration
Department handles issuance, monitoring and maintenance of licenses. Total costs for the first year
were $64,000 and total revenue from all liquor licenses was approximately $99,450. Future
investigative costs will be reduced by up to 50% due to renewals being less time consuming to
investigate than new licenses. Enforcement costs for undercover and uniformed inspections will
remain at present levels because we are committed to a regular schedule of inspections. Prosecution
costs will drop if compliance rates follow the pattern of improvement. The majority of the costs for
the City are for staff time. Cost of living increases will increase staff costs on an annual basis.
Chief Siitari suggested in order to reduce the gap between liquor costs and liquor license revenue, on-
sale intoxicating liquor license fees be reduced to $8,000 per year. Additionally, to encourage
voluntary compliance, a license fee reduction of $500 per year, up to a maximum of $1,000 could be
Page 21
MinutesDdina City CouncWIVovember 6,2000
offered for successfully passing the annual compliance checks. An on-sale intoxicating license holder
who maintains a clean record, with no substantive violations for two years would have a license fee I of $7,000.
It was further recommended that wine license fees be increased to $2,000 and 3.2 beer licenses to $500
per year to more accurately reflect the costs of enforcement and administration.
The proposed fee changes would place our full liquor and wine license fees in alignment with
surrounding municipalities.
Attorney Gilligan reviewed Minnesota Statute 340A.408 and pointed out that the law does not
require an exact match of costs and fees. The fee must pass a standard of reasonableness to meet
statutory ,pidelines. The proposed fees meet this standard in comparison. He suggested another
review in three to five years giving the City the benefit of additional experience in both areas.
Chief Siitari noted the liquor fee hearing has been set for December 19,2000.
council comment
Mayor Maetzold questioned why there are two fees for 3.2 beer. Chief Siitari said when the amended
Ordinance is published there will only be one fee.
Member Faust said the license fees seem fair.
Member Johnson questioned implementing a flat fee concerning a large restaurant compared to a
small restaurant. Manager Hughes said some cities have a sliding scale based upon square footage of
the restaurant. The logic of the fee was in an enforcement, inspection and administrative aspect it
seemed irrelevant to the size of the establishment. Member Johnson said the burden does seem more
ominous on a small restaurant. Mayor Maetzold reminded the Council that the small restaurants
have been the problem. Chief Siitari said when it comes to the appeals process, the smaller
restaurants do have a greater burden and are more likely to appeal on those grounds.
I
Resident comment
Wayne Kostroski, 4815 Maple Road, one of the owners of Tejas Restaurant, voiced appreciation for
the process saying he was impressed with the factors involved and he likes the incentive part of
setting the basis for the fees. Member Faust asked Mr. Kostroski to explain the incentive program he
has in place at his restaurant. Mr. Kostroski explained instead of looking at what the fine might be,
anytime they are inspected and a server/bartender, etc. passes the inspection, they are awarded
$100.00.
Member Hovland asked Mr. Kostroski's opinion on the doubling of the wine license cost. Mr.
Kostroski answered as liquor fees are coming down, it is appropriate for the other fees to go up
because costs do not change and the process must be maintained.
Member Faust made a motion to accept the Liquor License Fees report and authorize its
dissemination to the City's license holders. Motion was seconded by Member Hovland.
Ayes: Faust, Hovland, Johnson, Maetzold
I Motion carried.
RESOLUTION NO. 2000-109 FOR METROPOLITAN LIVABLE COMMUNITIES ACT - APPROVED Planner Larsen explained that as part of the Livable Communities Act (LCA)
legislation, the Met Council assigns each community its "Affordable and Life-cycle Housing
Page 22
MinutesEdina City Council/November 6,2000
Opportunities" (ALHOA) amount. The ALHOA is derived from a formula prescribed by law
including market value, tax capacity and tax rates by the County Assessor. This is the amount of local
expenditure expected to support or assist in the development of affordable and life-cycle housing or
maintenance and preservation of such housing. Edina's 2001 ALHOA commitment is $82,812.00.
Following a brief Council discussion, Member Hovland introduced the following resolution and
moved its adoption:
I
RESOLUTION NO. 2000-109
RESOLUTION ELECTING TO CONTINUE PARTICIPATING IN
THE LOCAL HOUSING INCENTIVES ACCOUNT PROGRAM
UNDER THE METROPOLITAN LIVABLE COMMUNITIES ACT
CALENDAR YEAR 2001
WHEREAS, the Metropolitan Livable Communities Act (Minnesota Statutes Section 473.25
to 473.254) establishes a Metropolitan Livable Communities Fund which is intended to address
housing and other development issues facing the metropolitan area defined by Minnesota
Statutes section 473.121; and
WHEREAS, the Metropolitan Livable Communities Fund, comprising the Tax Base
Revitalization Account, the Livable Communities Demonstration Account, the Local Housing
Incentive Account and the. Inclusionary Housing Account is intended to provide certain funding
and other assistance to metropolitan area municipalities; and
WHEREAS, a metropolitan area municipality is not eligible to receive grants or loans
under the Metropolitan Livable Communities Fund or eligible to receive certain polluted sites
cleanup funding from the Minnesota Department of Trade and Economic Development unless the
municipality is participating in the Local Housing Incentives Account Program under the
Minnesota Statutes section 473.254; and
WHEREAS, the Metropolitan Livable Communities Act requires the Metropolitan Council
to negotiate with each municipality to establish affordable and life-cycle housing goals for that
municipality that are consistent with and promote the policies of the Metropolitan Council as
provided in the adopted Metropolitan Development guide; and
WHEREAS, each municipality must identify to the Metropolitan Council the actions the
municipality plans to take to meet the established goals through preparation of the Housing
Action Plan; and
WHEREAS, the Metropolitan Council adopted, by resolution after a public hearing,
negotiated affordable .and lif e-cycle housing goals for each participating municipality; and
WHEREAS, a metropolitan area municipality which elects to participate in the Local
Housing Incentives Account Program must do so by November 15 of each year; and
WHEREAS, for calendar year 2001, a metropolitan area municipality that participated in
the Local Housing Incentive Account Program during the calendar year 2000, can continue to
participate under Minnesota Statutes section 473.254 if; (a) the municipality elects to participate in
the Local Housing Incentives Program by November 15, 2000; and (b) the Metropolitan Council
and the municipality have successfully negotiated affordable and life-cycle housing goals for the
municipality.
hereby elects to
participate in the Local Housing Incentives Program under the Metropolitan Livable Communities
Act during the calendar year 2001.
I
NOW, THEREFORE, BE IT RESOLVED THAT the City of Edina
Adopted this 6th day of November, 2000.
Motion was seconded by Member Faust.
Ayes: Faust, Hovland, Johnson, Maetzold I Resolution adopted.
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Minutes/Edina City Council/November 6,2000
FUNDS Planner Larsen indicated the City at present has a total of $231,328.00 in its Scattered Site
Affordable Housing account. A portion of these funds, $65,474, must be expended before the end of
the year or the funds will revert to Hennepin County. At this time, Edina does not have a project
where these funds could be used.
RESOLUTION NO. 2000-116, COMMUNITY DEVELOPMENT BLOCK GRANT TRANSFER OF
I
The County has offered us the option of using some or all of these funds to help fund projects in
neighboring communities. Specifically, the County has selected five projects for our consideration.
All of the projects are worthy and may help Edina residents, staff is recommending funding
Perspectives because we are advised that Perspectives is the only project which could use the funds
before the end of the year. Perspectives offers high-risk families prevention, intervention and
recovery programs that are affordable and accessible. Programming is also provided for the children
of vich of abuse. Mr. Larsen added if the funds are approved, they would be directed to assist in
the acquisition and renovation of the two newest buildings.
Funding of this project will give the City of Edina credit towards our Livable Communities
Affordable and Life-cycle Housing Opportunities Amount (ALHOA).
Following a brief Council discussion, Member Johnson made a motion approving the bansfer of
$65,474 in Community Development Block Grant (CDBG) funds to Perspectives housing project in
St. Louis Park. Member Faust seconded the motion.
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
I CURRENCY EXCHANGE AT 5129 EDINA INDUSTRIAL BOTJLWARD REFERRED TO
PLANNING COMMISSION Planner Larsen explained the City has been advised by the State
Department of Commerce that Unbank Company has applied for a license to operate a currency
exchange business at 5129 Industrial Boulevard. The location is a small strip mall and the area zoned
PCD-2. Financial institutions are allowed in the PCD-2 district. Staff believes a currency exchange
qualifies as a financial institution and therefore would be a permitted use at this location.
Mr. Larsen added that Minnesota Statute 53A.O4(a) allows for a public hearing by the City prior to
issuance of a license by the state. The decision to hold a hearing is at the discretion of the Council.
Staff recommends no public hearing be held. Additionally, staff and the City Attorney believes the
use is permitted under current zoning and no grounds exist to object to the license.
Staff believes the proposed location is appropriate for this use yet there may be other locations in the
City where such a use is not appropriate. Financial institutions are permitted in a number of zoning
districts today, including both office districts, all commercial districts except PCD-4 (gas stations), the
mixed development districts, the industrial district, and as an accessory use in the regional medical
district. The location of a currency exchange in some areas may not be appropriate due to their
proximity to residential uses, churches and schools.
Staff recommends referring the issue to the Planning Commission for their review and
recommendation.
I Member Hovland made a motion to refer the Currency Exchange at 5129 Edina Industrial
Boulevard application to the Planning Commission for recommendation relative to additional
restrictions on permitted locations for currency exchange businesses. Member Johnson seconded
the motion.
Ayes: Faust, Hovland, Johnson, Maetzold
Page 24
,
MinutesEdina Citv Counciwovember 6,2000
Motion carried.
RESOLUTION NO. 2000-110 SENIOR TRANSPORTATION INITIATIVE ADOPTED Manager
Hughes explained in July 1998, a Senior Transportation Initiative was approved by the Council. This
service was designed to take advantage of our eleven passenger bus donated by the Edina
Community Foundation. Since approval of the initiative by the Council, staff has attempted to
operate the senior bus using paid drivers. During this period, it has become increasingly difficult to
recruit suitable bus drivers and sustain transportation services in a manner that meets the
expectations of our customers. Therefore, staff has explored alternatives to the current arrangement.
Staff recently met with representatives of the Senior Community Services and Metro Transit
concerning the future of the Senior Transportation Initiative. Senior Community Services is a non-
profit organization operating senior centers as well as senior transportation services in a number of
Hennepin County cities. Senior Community Services has the expertise needed to hire, train and retain
qualified drivers as well as to provide dispatching services which link our customers with their
transportation needs.
Metro Transit has advised staff that they will fund one-hundred percent of a dial-a-ride service for a
one to two year demonstration program. Metro Transit staff all notes that sixty percent funding is
available following the end of the demonstration period. Forty percent must be made up from local
sources, including fares charged to riders.
Based upon these discussions, staff requests authorization to enter into an agreement with Senior
Comunity Services to provide for the operation of the transit initiative during the one to two year
demonstration period. During this time, the City would continue to provide the senior bus which has
been donated by the Foundation. Staff also recommends adoption of the attached resolution
requesting demonstration fund participation by Metro Transit. If approved, the system would be
operational shortly after the first of the year and would be scheduled to operate six hours daily, five
days a week.
Sue Weigle, Director of the Edina Senior Center, gave background into this essential program and
asked for Council support of the Senior Transportation Initiative.
Following a brief Council discussion, Member Hovland introduced the following resolution and
moved its adoption:
RESOLUTION NO. 2000-110
A RESOLUTION REQUESTING
METRO TRANSIT SUPPORT OF THE
SENIOR TRANSPORTATION INITIATIVE
WHEREAS, the City of Edina has one of the largest population of senior citizens of any city in
the metropolitan area and,
WHEREAS, existing transit services within the City of Edina are not conducive to serving the
special transportation needs of Edina’s senior population and,
WHEREAS, existing transit services within the City of Edina do not meet the needs of other non-
senior residents, especially with respect to travel within the City and,
WHEREAS, a “dial-a-ride” transit service operating on a reliable schedule would significantly
enhance the special transportation needs of Edina’s senior and non-senior population.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Edina that
application be made to the Metropolitan Council of the Twin Cities Area to provide full funding of a
demonstration project providing dial-a-ride transit service to persons within the City of Edina pursuant
to Minnesota Statutes 473.384. The City further recognizes and agrees that following completion of the
Page 25
MinutesEdina Ciw Council/November 6,2000
demonstration project, local financial participation is required to provide a portion of future operating
costs.
Member Johnson seconded the motion, I Approved this 6* day of November, 2000.
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
CLAIMS PAID Motion made by Member Johnson approving payment of the following claims as
shown in detail on the Check Register dated November 1,2000, and consisting of 70 pages: Cash
Company $619.85 General Fund $515,304.06; C.D.B.G. $11,175.00; Communications Fund
$13,916.05; Working Capital Fund $7,232.71; Construction Fund $45,951.60; Art Center Fund
$25,184.34; Golf Dome Fund $2,155.21; Aquatic Center Fund $4,597.09; Golf Course Fund
$35,407.95; Ice Arena Fund $20,939.92; Edinborough/Centennial Lakes $32,225.58; Liquor Fund
$341,446.15; Utility Fund $286,208.07; Storm Sewer Fund $3,114.57; HRA Fund $950,000.00; Payroll
Fund $420,000.00; TOTAL $2,715,478.15. Member Faust seconded the motion.
Rollcalk
Ayes: Faust, Hovland, Johnson, Maetzold
Motion carried.
There being no further business on the CounciI Agenda, Mayor Maetzold adjomed the Council
Meeting at 8:25 P.M.
Page 26