CR 94-31 AR #94-31 State Bonding Authority
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February 8, 1994 o P K \ ~ Council Report 94-31
STATE BONDING AUTHORITY
Proposed Action.
Staff recommends adoption of the following motion: Move to adopt
Resolution No. 94-15 which supports the allocation of funds
throuqh the state1s bonding authority for the construction of a
publicly owned arts facility.
Overview
During the state's upcoming legislative session a bill will be
introduced which will provide authority to the State to issue
bonds in its name for various capital projects. The eventual
repayment of these bonds would be made by the state.
Based upon communications with our state Legislators, it has been
determined that a request could be made to the State asking that
as a part of establishing the bonding authority amount, that
funds be included to assist with the construction of an arts
facility in Hopkins. At this point, no specific dollar amount
has been determined.
. Staff has prepared the attached resolution which requests the
state to consider such an allocation. It is critical to note
that by adopting the resolution the City Council is not
committing to the construction of the facility. Furthermore, if
the bonding allocation were approved, the City would not be
required to carry through with the project. However, it should
be noted that by adopting the resolution the City Council is
indicating an interest in examining the project further.
Alternatives
0 Approve staff's recommendation.
0 Do not approve staff's recommendation.
0 Approve staff's recommendation with changes to the
resolution.
0 Continue matter for further information. Please note that
the legislative session is scheduled to commence on February
22 and is considered to be a "short" session. As a result,
if the city is interested in making a request to the state,
this request needs to be made as soon as possible.
SUDDortinq Documents
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0' ,;Resolution No. 94-15
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Thomas i Harmening
Community Development Director
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e CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO: 94-15
RESOLUTION SUPPORTING ALLOCATION OF FUNDS
THROUGH THE STATE1S BONDING AUTHORITY FOR CONSTRUCTION OF A
PUBLICLY OWNED ARTS FACILITY IN HOPKINS, MINNESOTA
WHEREAS, the city of Hopkins has spent over two years
analyzing the feasibility of constructing an arts facility in
Hopkins; and,
WHEREAS, it has been determined that a publicly owned arts
facility will provide significant economic and cultural benefits
to the City of Hopkins and surrounding area; and,
WHEREAS, the City of Hopkins is interested in constructing a
publicly owned arts facility and is willing to consider
contributing significantly towards the cost of said facility;
and,
. WHEREAS, the City of Hopkins has recognized that funds need
to be committed from other resources to allow the City of Hopkins
to determine if it is able to construct said arts facility.
NOW, THEREFORE, BE IT RESOLVED that the city Council of the
city of Hopkins requests that the State of Minnesota allow funds
to be allocated in the State1s 1994 bonding authority to assist
with the construction of a publicly owned arts facility in
Hopkins, Minnesota.
Adopted by the Hopkins City Council this 15th day of February,
1994.
Charles D. Redepenning, Mayor
ATTEST:
. James A. Genellie, city Clerk
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