RES 09-073EXTRACT ~F MINUTES OF A MEETING ~F THE
CITY COUNCIL ~F THE CITY CF ELK RIVER, MINNESaTA
HELD: December 21, 2009
Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the City
of Elk River, Minnesota, was duly called and held at the City Hall in Elk River, Min.nesata on
December 21, 2009, at 6:30 p.m, for tlae purpose, in part, of giving preliminary approval to the
issuance of general obligation capital improvement plan bonds and adopting the capital
improvement plan.
T e of owing members were present: Mayor Stephanie ~~.linzing, Councilrnembers Nick 2erwas,
. Jerry Gum hrey, Batt Westgaard, and Paul Motin
and the following were absent: none ,
Member M~ t 7
introduced the following resolution and moved its adoption:
A. WHEREAS, the City Council of the City of Elk River, Minnesota the "City"}
proposes to adopt the City of Elk River, Minnesota, Capital Improvement Plan the "Plan"} and to
issue its general obligation capital improvement plan bonds the "Bonds") described in the Plan; and
B, WHEREAS, the City has caused notice of the public hearing on the intention to issue
tlae Bonds and on the proposed adoption of the Plan to be published pursuant to and in accordance
with Minnesota Statutes, Section 475.521; and
C. WHEREAS, a public hearing on the intention to issue the Bonds and on the proposed
Plan has been held on this date, following published notice of the public hearing as required by law;
and
D. WHEREAS, in approving the Plan, the City Council considered for each project and
for the overall Plan:
1. The condition of the City's existing infrastructure, including the projected
need for repair and replacement;
2. The likely demand for the improvement;
3. The estimated cost of the improvement;
4, The available public resources;
5, The level of overlapping debt in the City;
6. The relative benefits and costs of alternative uses of the funds;
7. operating costs of the proposed improvements; and
8, Alternatives far providing services more efficiently through shared facilities
with other local governmental units; and
E. WHEREAS, the City Council has determined that the issuance of the Bonds will
result in overall lower tax levies for the City and is the best way to finance the capital improvements
described in the Plan as authorized under Minnesota Statutes, Section 475.521.
NSW, THEREFORE, BE 1T RESOLVED by the City Council of the City of Elk River,
Mi~~nesata, as follows:
1. The amended Plan is hereby in all respects approved.
2. The staff and consultants of the City are hereby authorized to do all other things and take
all other actions as may be necessary or appropriate to carry out the Plan in accordance with any
applicable laws and regulations.
3. The City gives preliminary approval to issuance of the Bonds in the maximum principal
amount of X8,000,000, provided that if a petition requesting a vote on issuance of the Bands, signed by
voters equal to five percent of the votes cast in the last general election, is filed with City Administrator
by ~anua~y 21, 2010, the City may issue the Bonds only after obtaining approval of a majority of voters
voting ova the question at an election.
The motion for the adoption of the foregoing resolution was duly seconded by Member
W.e ~ tg.~.a rrL and, after full discussion thereof and upon a vote being taken thereon, the
following voted in favor thereof. M~.yor Stephanie Klinzing, Councilmembers Nick Zerwas,
. Jerr Gum hrey, Matt Westga.ard, and Paul Noti.n
and the following voted agaznstythe same:
none.
Passed and adopted by the City Council of the City of Elk River this 2151 day of December 200.
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~~. Step ~ anie I~linzing, Mayox
ATTEST; ~. ~~
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Tina Allard, City C1e~k