Memo Special Permit Parking
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. CITY OF HOPKINS
MEMORANDUM
DATE: October 11, 1990
TO: city Council
FROM: Brian Fritsinger
SUBJECT: Special Permit Parking
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During the last City Council meeting several questions were
raised abou~ the creation of this permit. I have attempted to
address these questions below and will be available at the
meetinq to addr.ess any further questions.
:e 0 Why isntt the existing' system working?
The current system does work. However, City staff and the Police
Department have been using their own discretion in allowing
pe~ple to exceed the 3 hour time limit.
The use of this discretion has, at ti.ltes, created some tension
with loca.l business OWfl.ers. It has bee~ the opinion of staff in
utilizing the curr'it<nt parking system that discretion shou.ld ba
kept t.o a minimum. This way I each individual who parks in the
downtown shouldi in t.heory 1 know the rules and have the same
parking ri9hts as the next individual.
0 What is causing the need for change?
The Police Department has expressed concern on allowing
individuala to park for e:'#:tend.ed p.griods of time in areas whsn
ether. can only legally park for short ter~. r.rhey have requested
t~at the Parking Committee and city council take action on this
item beca.us,~ of its direct con.flict to the ctU71'ent parkinq
system.
0 Why should fGe~ be charged?
There is a direct cost to the City for c,;:reating and ad:minist~ri.n9'
the permit. with th~ budget constraints being experienced, staff
is only lookinq at a fee which would cover the cost of producing
the permit,. If the Council desires, staff can approach the
CQuncil after the permit oostw are determined for formal. actloJ'l
on what an appropriate fee should be.
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RESOL'U'rION NO.. 90-108
RESOLUTION AUTHORIZING THE SALE AND-ISSUANCB
. OF TAXABLE SCHOOL I~EASE REVRNUE BONDS
(XARLEY BOPKXN3 PRESCHOOL PROJECT)
SERIES 1990 AND THE EXECUTION OF
NECBSSARY DOCUMENTS
DB IT RESOLVED by the city Council (the "CounciP!) of the Clty
of Hopkins~ Minnesota (the "Cityit)i as follows:
Section 1. Auth9rization~nd R~citals.
1.01 ~~.n!3r a] Authority. Pursuant to Minnesota St.atutes;
Sections 469.152 through 469.1651, as amended (the "ActU), the City
is authorized, after a public hearing and after approval by the
Minnesota Department of Trade and Economic Development as required
by the Act, to issue revenue bonds or notes for the purpose of
providing financing for the acquisition, construction and equipping
of projects consisting of real and personal property used or useful I
in connection with a revenue producing enterprise engaged in any
business. HHP Inc., a Minnesota corporation (the "Company") has
sub~itt.ed a proposal that the city issue its bonds to finance a
nonrecourse loan to the Company for the construction of a preschool
daycare center accessible by handicapped children to be located
within the corporate boundal..ies of the City (the ltProject"). The
Project will be owned by the Company and leased to Independent
School District No~ 270 of Minnesota (the "School District")
. pursuant to a lease which terminates on July 31, 2011, subject to
earlier termination provided thereunder.
1.02 ~i=:QP()~~JiQn.~. Represantatives of the Company have
proposed that the CitYi acting pursuant to the Act, issue and sell
its Taxable School Lease R~{enue Bonds (Harley Hopkins Preschool
Project) Series 1990 in t!le aggregate principal amount not to
excead $2,500,000 (the INBonds") for the purpose of financing the
Project. Proceeds of the Bonds will be loaned by the city to the
Company, and the Company will agree to make payments sufficient to
pay the principal off prQmiumr if anYi and interest on the Bonds
when due. The City will grant a security interest in cert.a in
revenues and paym~nts to be received by the City under the Loan
Ags:-eement (a~ hEtreinafter defined) to Norwest Bank Kinnesota,
Natiunal Association, its successors and assignsp as trustee (the
tiTruste(!!~') pursuant. to an Indenture of Trust between the City and
the Trustee (the ~Indentureft)~ The Bonds will be secured by, among
other thin9~, a first mortgage lien on and security interest in the
Project pursuan~ to a Combination Mortgage, Security Agreement and
Fixture Financing' stat.ement from the Company in fa,\por of th~
Tnuilte;:e (the nMOlvt.9'age@~) and by an Ass:;i9nmel'~t of Lea1$0S I Rents and
RevenuQs from the Company to th~ TruatGe (the "Assi9~ent").
1.03 Oocuml~. Forna of the following do,cument.s
relating to the Project and the Bonds have been prepar'ild and
submitted to this Council and are hereby directed to be filed in
th* office ot the city Clerk:
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. ( a; a Loan Agreement (the "Loan Agr.eement"), proposed
to be dated September 1, 1990, and entered into between the
City and the Company;
(b) the Indenture;
(cj a form of Bond;
(d) a Bond Purchase Agreement (tbe i. Bond P'..trchlitse
Agreement"); proposed to be entered into among Piper, Jaffray
& Hopwood Incorporated (the "underwriter") t the City, the
School District and the Company;
(e) the Mortgage;
(f) the Assignment;
(9') a Disbursing Agreement (the "Disbursing Agree:mentft) ,
proposed to be dated September 1, 1990 among the Company, the
Trustee and Title J:nsurance Company of Minnesota as disbursing
aqent thereunder;
(h) the .Application for App,roval of Industr.ial
Development Bond Project to the Minnesota Department of Trade
a.nd Economic Development (the 4;Appli.cationtt); and
. (1) a form of the Official Statement relatinq to the
Bonds (the "Official statement").
Section 2. Approva~ Qt~ PrQj~ct..-ADd DocumentlQ The
acquisi.tion, con~truction and equippi:nq of the Project. is hereby
approved. The forma of the Luan A~reament D the Indenture, the
Bond, the Bond Puxchaee Agreement, the Mortgage, the Assignment,
the Disbursing' Aqreeboot, the Applicatian and the Official
statement are approved. The Mayor and the city Clerk are hereby
dir~cted upon ~~e request of the Company tc execute such documents
on behalf of the Cit.y following approval of the Project pur$uant
to the Act. Caples of all such documents shall be deli'-!iGl"EM,'\" filGd
and recorded as providQd tharein~ The Mayor and the City Clerk are
also authorized and directed to execute such other instruments 6
consents and certificates as may be required to qive effect t.o the
transactions hereir. contamplat.ed or to. the transactions
contemplated ~y the herein described documents. - ,
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.St\ction :;.. ~ubmiz. ion~g.t...t..t~~. Submission of the
Application to the MinnesQca Department of Trade a.nd Economic
Devslopment is hereby approved.
Section 4. ~a~l-l~~. The Bond. will be oft.red for
sale by th~ Oftic!al stat~ment1 a d~att of which has bean p~.BGntQd
to this Coune1.1. The ~ity hereby con~ents to the distribution gf
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the Official statement on a preliminary and final basis in
. substantially the form of such draft (duly completed to reflect the
terms of the Bonds harein authori~ed) to prospective purchasers of
the Bonds. The city has not participated in the preparation of the
Official statement or preliminary Official statement, has made no
independe:nt investigat.ion with respect to the information contained
therein and assumeE> no z'espons ibi 1 i ty for the accuracy or
completeness af such information.
section 5. :r.h.~,JiQnd?; Terms. Sale and E2(~c!.ltion.
5.01 Ay.tl1Q):"j? at ion L fr tc~ . The City hereby authorizes the
issuance of th~ Bonds in the aforesaid aggregate principal amOtlnt
in the form and upon the terms set forth in the Indenture and this
laesolut.ion. The Bonds are hereby authorized to be sold to the
Underwriter at the price and upon the terms contained in the Bond
Purchase Agreement.
5.02 Te,rm~ . All terms of the Bonds, including their interest
rates, series6 dates, manner and medium of payment! registration
procedures, redemption date$, manner of execution, form and other
terms I covenants and cond,! ti ons , shall be as provided in the
Inde~ture, which is hereby incorporated in its entirety herein and
shall constitute a part of this Resolution~
5.03 ~.QytJS?n . Upon approval of the Project pursuant to the
Act, the Mayor and the City Clerk are hereby autborlzed and
. directed to execute the Bonds and the other docaments referred to
above to the extent the. city is a party thereto 6 as pres~ribed
herein and in the Indenture, and to delive~ them to the Truste~,
t.o-.;ether with a certified copy of this Resolution, the ot.her
documents required j,n the Indenture, and such other certificata'le,
documentsi cons~nts and instr'nnents as may be appropriate to effect
the tranaactions herein contemplatedf but only upon satisfaction .
of the conditions precedent to such issuance set fort.h in the
Indenture or the conditions precedent to the Underwr i te.r' a
obligation to purchase the Bonds set forth in the Bond Purehasft
Aqreement.
5.04 ~~",11~J~~~D&~.gLQUi9~Ji. The. approv8:.1 hereby
qivsn to the vario\1.s doclJJ:nentlll referred to above" including the
Bonds, includes an approval of such tlodifications. thitr.to~
deletions therefrom and additions ~~ereto as may be necessary and
apprQpriata an~ approved by Bond Counsel, the city Attoxney and
the Mayor prior to the execution and delivery of such docume~ts9
The axecution ot any instrumen1: by the appropriate officer or
~tf1c.~. of the Ci.ty herein author.i~ed shall be ~onclusiv~ evi4encB
of th. approval of such dot..;Wllents in accordance -with 't.he terms
hGr.ot~ In the abDenee or disability of any officer or smploy.e
of the City, any ot the document. authori28d by this Resolution to
he @x.Qute~ by such per.on may b& executed by any other person who
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is approved by the City Attorney or who is otherwise permitted by
law to execute such documents.
. Section 6. Aut~enti~~ioD ~proceeding~. The Mayor, City
Cler.k and other officers of the city are authorized and directed
to furnish to the Underwriter and Leonard, street and Deinard, as
Bond Couns~li certified copies of all proceedings and records of
the City, r~lating to the Bonds, and such other affidavits and
certificates as ~ay be re~uired to show the facts relating to the
legality and marketability of the Bonds as such facts appear from
the books and records in the officer's custody and control or as
ot..~erw ise known to them; and all such certified copiesf
certificates and a.ffidavits, including any heretofore furnished,
shall constit~te representations of the City as to the truth of all
statements contained therein.
Section 7. t:imita:t:ions of the _ Qity's Obl:l.qati.Q.M..
Notwithstanding anything contained in the Bonds, the Loan
Agreement, the Indenture, the Application, the Official statement
or the Bond Purchase Aqreement, the Bonds shall not constitute a
debt of the City within the meaninq of any constitutional or
statutory limitation, and shall not be payable from nor charged
upon any funds other than the revenues pledged to the payment
thereof, and n~ holder of the Bonds shall ever have the right to
compel any exercise of the taxing power of the City to pay the
Bonds or the premium, if any. or interest thereon, or to enforce
payment thereof against any property of the City other than those
. rights and interests of the City under the Loan Aqreement which
have been pledqed to the payment thereof. The agreement of the
City to preform the covenants and other provisions contained in
this Resolution or the Bonds, the Loan Agreement, the Indenture or
the iaond Purchase Agreement shall be subject at all t.imes t.o the
availability of rsvenuee furnished by or on behalf of the Company
suftlc.:ient. to pay all costs of such performance or the enforcement
th~reof( and. the Ci ty shall not be subject to any persona 1 or
pecuniary liab~lity thereon.
Adopted: Septe'mber 16 f 1990.
Approved: _ _ ....-........r - . ~:i
Mayor
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Atttitli'&t: -"" --- - ---
CIty -Cl@rk
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Ve.'1ELY, MrLLER & STEINER
PROFESSIONAL ASSOCIATION
. A1TORNEYS AT LAW I
t
400 NOR\VEST BANK BUILDING
JERRE A. MILLER 101 t FIRST STREET SOUTH JOSEPH C. VESELY (1905.1989)
JEREMY S, STEINER HOPKINS, MINNESOTA 55343
WYNN CURTISS
612.~38-'16s:; I
FAX 612..933-7670 I
September 12, 1990 I
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Mr. James Kerx'igan I
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City of Hopkins I
1010 F1rst Street South
Hopkins,. MN 5.5343
Re: Harley Hopkins
Dear Jim:
Pursuant to your request I I have reviewed the comments of
AttornelJ' Ste.phanie N. Galey of Holmes & Graven in which an
opinion was re.ndered 1n behalf of the City concerning the
HarlE'Y Hopkins bond issuance.
.,.<. I have also reviewed the documents enumerated j,n the opinion
letter as well as the letter itself~ The letter accurately
sets forth the terms and ctmdi tions of the bond issuance and
, ". accurc'tely describes the position and responsibility of the
Ci t;y wi -th reference to i. t .
For this re~son, I am entirely in accord with the opinion
expressed in the let~er~ /'
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J ,( A ~.- . ler vI...../'
JlOp~ na City Attorney
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