RES 06-092
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EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF
ELK RIVER, MINNESOTA
HELD: July 17,2006
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Elk River, Minnesota, was duly held at the City Hall in said City on Monday, the 17th day of
July, 2006, at 6:30 o'clock P.M., for the purpose in part of calling for a public hearing on a
modification to its capital improvement plan and the issuance of Capital Improvement Bonds.
The following members were present:
Mayor Klinzing, Councilmembers Dietz, Gumphrey, Farber, & Motin
and the following were absent:
None
Member Dietz
introduced the following resolution and moved its adoption:
RESOLUTION 06- 92
RESOLUTION CALLING FOR A PUBLIC HEARING ON
A CAPITAL IMPROVEMENT PLAN AND THE ISSUANCE OF
CAPITAL IMPROVEMENT BONDS
WHEREAS,
A. Pursuant to Minnesota Statutes, Section 475.521, the City of Elk River,
Minnesota (the "City") is authorized to adopt a capital improvement plan and issue bonds to
finance capital improvements described therein; and
B. Prior to the issuance of bonds for a capital improvement project, the City Council
must hold a public hearing, as required by Minnesota Statutes, Section 475.521, Subdivision 2;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota, as follows:
(1) Hearing. A public hearing on the adoption of the modified Capital
Improvement Plan and the issuance of Capital Improvement Bonds to finance capital
improvements related to funding and construction of a new library will be held at the time and
place set forth in the Notice of Hearing attached hereto as Exhibit A and hereby made a part
hereof.
(2) Notice. The City Clerk is hereby authorized and directed to cause notice
of said hearing in substantially the form attached hereto as Exhibit A to be given one publication
in a newspaper of general circulation in the City at least 14 days but not more than 28 days
before the hearing. The newspaper must be the City's official newspaper or one of general
circulation in the City, and the notice must be published at least once.
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The motion for the adoption of the foregoing resolution was duly seconded by member
Gumphrey and, upon a vote being taken thereon after full discussion thereof, the following
voted in favor thereof:
Mayor Klinzing, Councimembers Dietz, Gumphrey, Farber, & Motin
and the following voted against the same:
None
Whereupon said resolution was declared duly passed and adopted.
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Steph e Klinzing, Mayor
ATTEST:
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Jodn Schmidt, City Clerk
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STATE OF MINNESOTA )
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COUNTY OF SHERBURNE)
I, the undersigned, being the duly qualified and acting Clerk of the City of Elk River,
Minnesota (the "City"), by reason of my office as Clerk, DO HEREBY CERTIFY that I have
compared the attached and foregoing extract of minutes with the original thereof on file in my
office, and that the same is a full, true and complete transcript of the minutes of a meeting of the
City Council of the City, duly called and held on the date therein indicated, insofar as such
minutes relate to the calling of a public hearing on a modified Capital Improvement Plan and the
proposed issuance of Capital Improvement Bonds to finance capital improvements therewith.
WITNESS my hand this{g~th day of July, 2006.
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City ~,
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EXHIBIT A
NOTICE OF PUBLIC HEARING
CITY OF ELK RIVER
MODIFIED CAPITAL IMPROVEMENT PLAN
AND NOTICE OF INTENTION TO ISSUE
CAPITAL IMPROVEMENT BONDS
Notice is hereby given that a public hearing has been scheduled for Monday August 21st,
2006 at 6:30 p.m. in the City Hall, Elk River, Minnesota. The purpose of the public hearing is
the review, discussion and approval of the proposed modified Capital Improvement Plan for the
City of Elk River (the "City") and consideration of the issuance of Capital Improvement Bonds
in the amount of up to $5,000,000 for the funding and construction of a new library as part of the
City's Capital Improvement Plan. The plan identifies estimated capital expenditures and funding
sources for a five-year period. If approved by the City, the plan will enable the issuance of
general obligation bonds by the City. A referendum on the question of issuing the bonds must be
held if a petition requesting a vote on the issuance is signed by votes equal to five percent of the
votes cast in the City in the last general election and is filed with the City Clerk within 30 days
after the public hearing. A copy of the plan is available for inspection in the City Clerk's Office,
City Hall, 13065 Orono Parkway, Elk River, Minnesota 55330. Question or comments may be
directed to the City Clerk's Office at 763-635-1000.
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