HomeMy WebLinkAboutResolution No. 2013-063 Adopting Modification to 5 year CIP & Approving Issuance of G.O. Bonds RESOLUTION NO. 2013-63
RESOLUTION ADOPTING A MODIFICATION TO THE FIVE-YEAR
CAPITAL IMPROVEMENT PLAN AND APPROVING THE ISSUANCE OF
GENERAL OBLIGATION BONDS
BE IT RESOLVED by the City Council of the City of Edina as follows:
1. The City Council has previously adopted a capital improvement plan(the "CIP")
pursuant to Minnesota Statutes, Section 475.521, and a modification thereto. It has been
proposed that the City Council adopt an additional modification to the CIP entitled
"Modification to the Five-Year Capital Improvement Plan for the City of Edina, Minnesota
Relating to the Acquisition and Renovation of the Public Works Facility" (the "CIP
Modification"). The CIP Modification authorizes the issuance of general obligation bonds in the
principal amount of up to $6,000,000 (the "Bonds")to finance the acquisition of the portion of
the City's public works and park maintenance facility that is leased by the Edina Housing and
Redevelopment Authority(the "HRA")to the City, and the refunding of the HRA's Taxable
Public Project Revenue Bonds (City of Edina Annual Appropriation Lease Obligations), Series
2009B. Pursuant to Minnesota Statutes, Section 475.521, the City Council held a public hearing
on August 5,2013 on the CIP Modification and the City's intention to issue the Bonds.
2. The CIP Modification is hereby adopted and the issuance of the Bonds is hereby
approved,provided that if a petition requesting a vote on the issuance f the Bonds signed by
voters equal to five percent of the votes cast in the City in the last gene t election is filed with
the City Clerk within 30 days after the date hereof, the City may 1 ie the Bonds after
obtaining the approval of a majLn rs voting on the qu st on f issuance of the
Bonds.
Passed and ado ted by the City o5,2013.
ATTEST:
ebra A. Mangen, City derk James B. Hovffind,Nfayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the
attached and foregoing Resolution was duly adopted by the Edina City Council at its Regular Meeting of
August 5,2013,and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this�day of ,20�1 .
Ci lerk
CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov.952-927-8861 • Fax 952-826-0390