2007-038EXTI~.ACT ~F MINUTES OF A MEETING GF THE
CITY C~IJNCIL ~F THE CITY GF H®PIIINS, MINNESGTA
HELD: Nlay 15, 2007
pursuant to due call and notice thereof, a regulal° meeting of the City Council
of the City of Hopkins, Minnesota, was held at the City Hall in Hopkins, Minnesota
on Tuesday, the 5th day of May, 2007 at 7:30 p.m. for the purpose, in part, of
giving preliminary approval for the issuance of the City's general obligation capital
impr°ovement bonds and adopting an amendment to the City's capital improvement
plan.
The following members were present: Mayor Maxwell and Council Member s
Youakim, Thompson, I~,owan, and Halverson.
and the following were absent:
Council Member Thompson introduced the following resolution and moved its
adoption:
CITY ~F H®~I~IIS, MI1~~S~TA
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A]J~~TII~G A Al~1I~1E1~T T~ C~PITAZ, ~ .®VEIEl~'T P.AI~d A ~V~D~~~
~I2~I_,~T~IY~ ~' ~®~A.~ ~~ rI'HE SSi1AI~C: ®F I3()I~S ~'~~2E IEI2
WHEREAS, plld'SLia11t t0 Minl~esota Statutes, Section 475.521 (the ``Act'), C1t1eS are aLItI1o1'iZed t0
adopt a Capital 1111p1'OVed11el1t plan slid ainel1d117e11tS thel'et0 a11d Cal'ly Obit pl'ograi~ls for' t11e fi11a11C111g ®f Caplt~ll
ilnpl'oveinents;, aid
WHEREAS, tl~e City of Hopkins, Milinesota (the ``City") has prepared an amelldl~lent to its Capital
Improvement Plan for the years 2007 thro~igh 2011 (tile "Plan Amendment''); and
WHEREAS, pui'SElallt t0 tl~e Plan A111el1dillent, the City proposes to issue its general obligation
capital improvement bonds ui an aggregate principal ainOtlilt of $9,965,000 (the "Bonds"), to acquire the
City's ptlbllC Vl'Oi'ks a11d Ell's station facility 8'0111 the HOLIS111g and RedeVelopmeilt ALItI1oi°lty 111 slid for' t17e
City of Hopkins (the "Authority") and refined the outstanding lease-revenue bonds issued by the Authority to
finance that facility; and
WH~RFAS, On t11e date heCeOf, the Clty C01111C11 Of t11e Clty has C®i1dllCted a dLlly ilotiGed pL1b11C
hearing regat"ding adoption of the Plan Alnendnlent and issLance of the Bonds pursuant to the requirements
o E the Act.
NOW, THEREFORE, f3E I~h RESOLVED I3Y TIE CITY COUNCIL OF THE CITY OP
I-IOPKINS, MINNESOTA:
1. The Plan Amendment is approved and pI'eliminary approval for the issuance of the Bo11ds is
granted, provided that if a petition requesting a vote on issuance of the Bonds, signed by voters egLlal to five
percent of the votes cast in the City in the last general election, is filed with the City Clerk within 30 days
after the public hearing, the Clty II1ay 1SSLle the B011dS 0111y after Obta111111g appl'OVaI Of a 111a~01'lty of VOte1'S
VOt111g 011 the gUeSt1011 at all elect1011.
2. The City declares its official intent to reimbul'se itself for the costs of the PIa11 A111endn1e11t
fi"oln the proceeds of the Bonds.
3. City staff are hereby autl7ori~ed to do all other things and take all other actions as may be
neCessal"y' OI' appl'Opl'late t0 Cal"I"y Ollt the Plan AtnE',11dn1ent a11d thE: 1SSLlal7ce of the f30ndS lI1 acc01'dallce wltll
any applicable laws and regulations.
Adopted this l 5th day of May, 2007.
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The anotion for the adoption of the foregoing resolution was duly seconded by
Council Member Halverson and, after full discussion thereof and upon a vote being
taken thereon, the following voted in favor thereof: Mayor Maxwell, Council
Member Youakim, Council Member Thompson, Coaancil Member Rowan, and
Council 1Vlember 1-Ialverson.
and the following voted against the saane:
Whe~•eupon said resolution was declared duly passed and adopted.
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STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF HOPKINS
I, the undersigned, being the duly qualified and acting Clerk of the City of Hopkins,
Minnesota, DO HEREBY CERTIFY that I have carefully compared the attached and foregoing
extract of minutes with the original minutes of a meeting of the City Council of said City, duly
called and held on the date therein indicated, which are on file and of record in my office, and
the same is a full, true and complete transcript therefrom insofar as the same relates to a
resolution giving preliminary approval for the issuance of the City's general obligation capital
improvement bonds and adopting an amendment to the City's capital improvement plan therefor.
WITNESS my hand this 15th day of May, 2007.
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amity Cl