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1989-110 . . . CITY OF HOPKINS Hennepin County, Minnesota RESOLUTION NO: 89-110 RESOLUTION MAKING FINDINGS OF FACT AND APPROVING APPLICATION FOR CONDITIONAL USE PERMIT CUP89-17 WHEREAS, an application for a Conditional Use Permit entitled CUP89-17, made by Trakup Company, 420 Mainstreet, to operate an auto sales lot is approved. WHEREAS, the procedural history of the application is as follows: 1. That an application for Conditional Use Permit CUP89-17 was filed with the City of Hopkins on November 3, 1989. 2. That the Hopkins Planning Commission reviewed such application on November 28, 1989. 3. That the Hopkins Planning Commission, pursuant to published and mailed notices, held a public hearing on November 28, 1989; all persons present at the hearing were given an opportunity to be heard. 4. That the written comments and analysis of the City Staff and the Planning Commission were considered. NOW THEREFORE BE IT RESOLVED, that application for Conditional Use Permit CUP89-17 is hereby approved subject to the following Findings of Fact: 1. That the applicant meets the conditions for a Conditional Use Permit. BE IT FURTHER RESOLVED, that application for CUP89-17 is hereby approved subject to the following conditions: 1. Review on-site parking after six months 2. Landscaping to be reviewed within 6 months Adopted this 5 day of December, 1989. ~w . . . \ "'- , Extract of Minutes of Meeting of the City Council of the City of Hopkins, Hennepin County, Minnesota Pursuant to due call and notice thereof a regular meeting of the City Council of the City of Hopkins, Hennepin County, Minnesota, was held at the City Hall in the City on Tuesday, November 7, 1989, commencing at 8:30 P.M. The following members of the Councilmember Anderson Councilmember Shirley Councilmember Kritzler Council were present: Councilmember Redepenning Mayor Berg and the following were absent: *** *** *** The following written resolution was presented by Member Shirley who moved its adoption the reading of which had been dispensed with by unanimous consent: RESOLUTION NO. 89-104 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $410,000 GENERAL OBLIGATION CAPITAL NOTES, SERIES 1989 BE IT RESOLVED By the City Council of the City of Hopkins, Hennepin County, Minnesota (City) as follows: 1. It is hereby determined that: (a) the City is authorized by Minnesota Statutes, Section 412.301 (the Act) to issue its capital notes on such terms and in such manner as the City determines to finance the purchase of items of capital equipment (Equipment), subject to certain limitations contained in the Act; .. \.. (b) the City will purchase and acquire various items of Equipment, which items and the estimated cost thereof, are listed on Exhibit B, attached hereto and made a part hereof; (c) as required by the Act, (i) the expected useful life of each item of Equipment is or will be at least as long as the term of the notes; and (ii) the principal amount of notes to be issued in the year 1989 will not exceed 0.25 percent of the market value of taxable property in the City for the year 1989, and publication of the resolution pursuant to the Act is not required. (d) it is necessary and expedient for the City to issue its notes for the purchase of Equipment and related ex- penses as follows: Purchase Price Capitalized Interest Costs of Issuance Subtotal Discount Total $ 400,000 o 7,540 $ 407,540 2,460 $ 410,000 (e) it is necessary and expedient to the sound financial management of the affairs of the City to issue $410,000 General Obligation Capital Notes, Series 1989 (Notes) pursuant to the Act to provide financing for the Equipment. 2. To provide financing for the Equipment, the City will therefore issue and sell Notes in the amount of $407,540. To provide in part the additional interest required to market the Notes at this time, additional Notes will be issued in the amount of $2,460. The excess of the purchase price of the Notes over the sum of $407,540 will be credited to the debt service fund for the Notes for the purpose of paying interest first coming due on the additional Notes. The Notes will be issued, sold and delivered in accordance with the terms of the following Official Notice of Sale: \. OFFICIAL NOTICE OF SALE $410,000 General Obligation Capital Notes, Series 1989 City of Hopkins Hennepin County, Minnesota NOTICE IS HEREBY GIVEN that sealed bids for the purchase of the above notes will be received until 11:00, a.m., C.T. on Tuesday, December 5, 1989, at Hopkins Tech Center, 1600 Second Street South, in Hopkins, Minnesota, at which time the bids will be opened and tabu- lated for consideration by the City Council at a meeting at 7::f8~'p.m. on the same day. The notes are offered on the following terms: Purpose and Security The purpose of the notes is to provide funds for the finan- cing of the acquisition of various items of capital equipment for the City. The notes will be general obligations of the City, for which its full faith, credit and taxing powers are pledged and will be payable from general ad valorem taxes. Date and Maturities The notes will be issued in fully registered form, will be dated December 21, 1989, will be in denominations of integral multi- ples of $5,000 each and will mature without option of prior payment on February 1, 1991. Interest Interest on the notes will be payable on August 1, 1990, and February 1, 1991. Notes must bear interest from date of issue until paid at a single, uniform rate. The rate must be in an integral multiple of 1/100 of 1%. Registrar The City will name the Registrar which will be subject to applicable SEC regulations. Principal will be payable at the prin- cipal office of the Registrar and interest will be payable by check or draft of the Registrar mailed to the registered holder of a certifi- cate. The City will pay the reasonable and customary charges for the services of the Registrar. CUSIP Numbers The City assumes no obligation for the assignment or print- ing of CUSIP numbers on the notes or for the correctness of any num- bers printed thereon, but will permit such numbers to be assigned and printed at the expense of the purchaser, if the purchaser waives any extension of the time of delivery caused thereby. ~ \. Delivery Within 40 days after sale, the City will furnish and deliver to the office of the purchaser or, at its option, will deposit with a bank in the United States selected by it and approved by the City as its agent to permit examination by and to deliver to the purchaser, the printed and executed notes, the unqualified opinion thereon of bond counsel, and a certificate stating that no litigation in any manner questioning their validity is then threatened or pending. The charge of the delivery agent must be paid by the purchaser but all other costs will be paid by the City. The purchase price must be paid upon delivery of the notes in funds available for expenditure by the City on the day of payment. Legal Opinion An unqualified legal opinion on the notes will be furnished by Holmes & Graven, Chartered, Minneapolis, Minnesota. The legal opinion will be printed on the notes at the request of the purchaser. The legal opinion will state that the notes are valid and binding general obligations of the City payable primarily from ad valorem taxes and that the City is required by law to levy taxes for the principal and interest thereon as the same become due without limit as to rate or amount. Type of Bid - Amount Sealed bids must be mailed or delivered to the undersigned and must be received prior to the time specified above for the opening of bids. A bid must be unconditional and must be accompanied by a cashier's or certified check or bank draft, payable to the City or by wire transfer after bid opening in the amount of $8,200, to be re- tained by the City as liquidated damages if the bid is accepted and the bidder fails to comply therewith. The good faith check will be deposited by the City and deducted from the settlement amount at the delivery of the notes. The bid authorizing the lowest net interest cost (total interest from date of notes to stated maturities, less any cash premium or plus any amount less than $410,000 bid for principal) will be deemed the most favorable. No oral bid and no bid of less than $407,540 for principal plus accrued interest on all of the notes will be considered. The City reserves the right to reject any and all bids and to waive an informality in a bid. BY ORDER OF THE CITY COUNCIL /s/ Patricia Gisborne City Clerk Dated: November 7, 1989. "'- 3. The Clerk is authorized and directed to advertise the Notes for sale in accordance with the foregoing Official Notice of Sale and to publish the abbreviated notice of sale attached hereto as Exhibit A in the manner required by law. The City Council will meet at 7_:.30=::: a.m. on Tuesday, December 5, 1989, to consider bids on the Notes and take any other appropriate action with respect to the Notes. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Redepenning , and upon vote being taken thereon the following members Councilmember Anderson Councilmember Shirley Councilmember Kritzler and the following voted against: voted in favor of the motion: Councilmember Redepenning Mayor Berg whereupon the resolution was declared duly passed and adopted. Exhibit A NOTICE OF NOTE SALE $410,000 GENERAL OBLIGATION CAPITAL NOTES, SERIES 1989 CITY OF HOPKINS, HENNEPIN COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that sealed bids for the purchase of the above notes will be received until 11:00, a.m., C.T. on Tuesday, December 5, 1989, at Hopkins Tech Center, 1600 Second Street South in Hopkins, Minnesota, at which time the bids will be opened and tabu- lated for consideration by the City Council at a meeting at 7:30~p.m. on the same day. The notes are offered on the following terms. The notes will be dated December 1, 1989, will bear interest payable semiannually on August 1, 1990 and February 1, 1991, and will mature without option of prior payment on February 1, 1991. Bidders must specify a price of not less than $407,540 plus accrued interest. A legal opinion on the notes will be furnished by Holmes & Graven, Chartered, Minneapolis, Minnesota. The proceeds of the notes will be used to finance a portion of the costs of acquisition of various items of capital equipment for the City. Bidders should be aware that the Official Statement to be distributed for the notes may contain additional bidding terms and information relative to the notes. In the event of a variance between statements in this Notice of Note Sale and the Official Statement bidders must comply with the terms of the latter. BY ORDER OF THE CITY COUNCIL Isl Patricia Gisborne City Clerk Dated: November 7, 1989. " \ LIST OF CAPITAL EQUIPMENT EQUIPMENT Administration Vehicles Police Vehicles Computers Public Works Equipment Fire Vehicles EXHIBIT B $ 38,000 89,000 40,000 173,000 60,000 $400,000 . t 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, hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular meeting of the City Council of the City held on Tuesday, November 7, 1989, with the original minutes on file in my office and the extract is a full, true and correct copy of the minutes, insofar as they relate to the issuance and sale of $410,000 General Obligation Capital Notes, Series 1989 of the City. WITNESS My hand as City Clerk and the corporate seal of the City this 7th day of November , 1989. Minnesota (SEAL) H6:00201089.RAU '. ~ HOLMES & GRAVEN CHARTERED 470 Pillsbury Center, Mmneapohs, Mmnesola 55402 (612) 337-9300 $410,000 General Obligation Capital Notes, Series 1989 City of Hopkins Hennepin County, Minnesota We have acted as bond counsel in connection with the issuance by the City of Hopkins, Hennepin County, Minnesota, of its General Obligation Capital Notes, Series 1989, originally dated as of December I, 1989, in the total principal amount of $410,000. For the purpose of rendering this opinion, we have examined certified copies of certain proceedings taken by the City in the authorization, sale and issuance of the Notes, including the form of the Notes, and certain other proceedings and documents furn i shed by the Ci ty. From our exami na t i on of such proceed i ngs and other documents, asuming the genuineness of the signatures thereon and the accuracy of the facts stated therein and con t i nu i ng compl i ance by the Ci ty wi th it s covenan t s to comp ly wi th the In terna 1 revenue Code 0 f 1986, as amended, and based upon laws, regulations, rulings and decisions in effect on the date hereof, it is our opinion that: I. The Notes are in due form, have been duly executed and delivered, and are valid and binding general obligations of the City, enforceable in accordance with their terms, except as such enforcement may be limited by Minnesota or United States laws re la t i ng to bankrup tcy, reorgan i za t ion, mora tor i urn or cred i tor s' rights. 2. The principal of and interest on the Notes are payable pr imar i ly from ad va lorem taxes here to fore lev i ed on all taxab I e property in the City, which taxes are not subject to any limitatio as to rate or amount. 3. The interest to be paId on the Notes is not includable in gross income of the recipient for United States or Minnesota income tax purposes, but is subject to federal alternative minimum taxes and environmental surtaxes on corporations, foreign corporation branch profIts taxes and Minnesota taxes on banks and corporations measured by income. We express no opinion regarding other federal or state tax consequences arising with respect to the Notes. The Notes are not arbitrage bonds and are not private acti v i ty bonds. ~ . . ~ We have not been asked and have not undertaken to review the accuracy, completeness or sufficiency of the offering material relating to the Notes, and accordingly we express no opinion with respect thereto. Dated at Minneapolis, Minnesota, --------------------------------------------------------------------- Hopkins I. t'. .... '. .. , . '. .. OFFICIAL NOTICE OF SALE $410,000 General Obligation Capital Notes, Series 1989 City of Hopkins Hennepin County, Minnesota NOTICE IS HEREBY GIVEN that sealed bids for the purchase of the above notes will be received until 11:00, a.m., C.T. on Tuesday, December 5, 1989, at Hopkins Tech Center, 1600 Second Street South, in Hopkins, Minnesota, at which time the bids will be opened and tabu- lated for consideration by the City Council at a meeting at 7: 30 p.m. on the same day. The notes are offered on the following terms: Purpose and Security The purpose of the notes is to provide funds for the finan- cing of the acquisition of various items of capital equipment for the City. The notes will be general obligations of the City, for which its full faith, credit and taxing powers are pledged and will be payable from general ad valorem taxes. Date and Maturities I The notes will be issued in fully registered form, will be dated December 21, 1989, will be in denominations of integral multi- ples of $5,000 each and will mature without option of prior payment on February 1, 1991. Interest Interest on the notes will be payable on August I, 1990, and February 1, 1991. Notes must bear interest from date of issue until paid at a single, uniform rate. The rate must be in an integral multiple of 1/)00 of 1%. Registrar The City will name the Registrar which will be subject to applicable SEC regulations. Principal will be payable at the prin- cipal office of the Registrar and interest will be payable by check or draft of the Registrar mailed to the registered holder of a certifi- cate. The City will pay the reasonable and customary charges for the services of the Registrar. CUSIP Numbers The City assumes no obligation for the assignment or print- ing of CUSIP numbers on the notes or for the correctness of any num- bers printed thereon, but will permit such numbers to be assigned and printed at the expense of the purchaser, if the purchaser waives any extension of the time of delivery caused thereby. '\ , f:, f +- \ 41 ~. Delivery Within 40 days after sale, the City will furnish and deliver to the office of the purchaser or, at its option, will deposit with a bank in the United States selected by it and approved by the City as its agent to permit examination by and to deliver to the purchaser, the printed and executed notes, the unqualified opinion thereon of bond counsel, and a certificate stating that no litigation in any manner questioning their validity is then threatened or pending. The charge of the delivery agent must be paid by the purchaser but all other costs will be paid by the City. The purchase price must be paid upon delivery of the notes in funds available for expenditure by the City on the day of payment. Legal Opinion An unqualified legal opinion on the notes will be furnished by Holmes & Graven, Chartered, Minneapolis, Minnesota. The legal opinion will be printed on the notes at the request of the purchaser. The legal opinion will state that the notes are valid and binding general obligations of the City payable primarily from ad valorem taxes and that the City is required by law to levy taxes for the principal and interest thereon as the same become due without limit as to rate or amount. Type of Bid - Amount Sealed bids must be mailed or delivered to the undersigned and must be received prior to the time specified above for the opening of bids. A bid must be unconditional and must be accompanied by a cashier's or certified check or bank draft, payable to the City or by wire transfer after bid opening in the amount of $8,200, to be re- tained by the City as liquidated damages if the bid is accepted and tbe bidder fails to comply therewith. The good faith check will be deposited by the City and deducted from the settlement amount at the delivery of the notes. The bid authorizing the lowest net interest cost (total interest from date of notes to stated maturities, less any cash premium or plus any amount less than $410,000 bid for principal) will be deemed the most favorable. No oral bid and no bid of less than $407,540 for principal plus accrued interest on all of the notes will be considered. The City reserves the right to reject any and all bids and to waive an informality in a bid. BY ORDER OF THE CITY COUNCIL Isl Patricia Gisborne City Clerk Dated: November 7, 1989.