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2015-028 Calling Public Hearing on a Proposed Property Tax Abatement CITY OF HOPKINS HENNEPIN COUNTY,MINNESOTA RESOLUTION 2015-028 RESOLUTION CALLING PUBLIC HEARING ON A PROPOSED PROPERTY TAX ABATEMENT AND PROVIDING FOR THE SALE OF GENERAL OBLIGATION TAX ABATEMENT BONDS, SERIES 2015B BE IT RESOLVED By the City Council of the City of Hopkins, Minnesota (the "City"), as follows: 1. Pursuant to Minnesota Statutes, Sections 469.1812 through 469.1815, as amended (the "Act"), the City may grant an abatement of all or a part of the taxes levied by the City on real property within its boundaries (the "Abatement") and issue general obligation bonds to finance public infrastructure improvements; provided, however, that the City Council first holds a public hearing regarding the proposed Abatement. 2. The City proposes to issue its General Obligation Tax Abatement Bonds, Series 2015B (the"Bonds"), in the proposed aggregate principal amount of$2,970,000, to finance the reconstruction of various municipal parking lots and renovation of Cottageville Park in the City. 3. In accordance with the Act, the City Council hereby calls for a public hearing on Tuesday, April 7, 2015, at 7:00 PM, to consider the proposed Abatement for the purposes described herein. 4. The City Clerk is authorized and directed to publish a notice of public hearing in substantially the form set forth in EXHIBIT A attached hereto in the official newspaper of the City more than 10 but less than 30 days before the date of the public hearing. 5. The City has retained Ehlers & Associates, Inc., in Roseville, Minnesota("Ehlers"), as its independent financial advisor for the Bonds and Ehlers is therefore authorized to solicit proposals in accordance with Minnesota Statutes, Section 475.60, subdivision 2(9). 6. The City Council shall meet on Tuesday, May 5, 2015, at 7:00 PM, for the purpose of considering sealed proposals for and awarding the sale of the Bonds. 7. In connection with said sale, the officers or employees are hereby authorized to take all other actions needed to bring the proposed Abatement before the City Council and to cooperate with Ehlers and participate in the preparation of an official statement for the Bonds and to execute and deliver it on behalf of the City upon its completion. 457885v2 JAE HP110-90 Adopted by the City Council of the City of Hopkins, Minnesota, this 16th day of March, 2015. Eugene J. Maxwell, Mayor ATTEST: (law ciA Amy Domeier, City Clerk 2 457885v2 JAE HP110-90 EXHIBIT A NOTICE OF PUBLIC HEARING NOTICE OF PUBLIC HEARING REGARDING A PROPOSED PROPERTY TAX ABATEMENT NOTICE IS HEREBY GIVEN that the City Council of the City of Hopkins, Minnesota (the "City") will meet on Tuesday, April 7, 2015, at or after 7:00 PM, City Council Chambers at City Hall, 1010 First Street South in the City, to hold a public hearing concerning a proposal that the City abate all or a portion of property taxes levied by the City on the properties located in the following areas of the City(the"Property"): [Insert legal description of PIDs] The total amount of the taxes proposed to be abated by the City on the Property is estimated to be approximately $ . The City Council will consider the property tax abatement in connection with financing certain public infrastructure improvements, including but not limited to the reconstruction of various municipal parking lots and renovation of Cottageville Park in the City. All interested persons may appear and be hard at the public hearing either orally or in writing, or may file written comments with the City Clerk before the hearing. Dated: ,2015 BY ORDER OF THE CITY COUNCIL OF THE CITY OF HOPKINS, MINNESOTA /s/ Amy Domeier City Clerk City of Hopkins, Minnesota A-1 457885v2 JAE HP110-90