05-20-1980 A regular meeting of the Council of the City of Hopkins, Minnesota, was held
on Tuesday, May 20, 1980, at 7 : 30 p.m. , in the Council Chambers in the City
Hall.
IIPresent were Mayor Miller, Councilmembers Lohmann, Milbert, Slaton and Arimond,
also City Manager Craig, City Clerk Richardson, City Engineer Strojan, Asst.
Engineer Anderson, Operations Inspector Beecher and City Attorney Vesely.
Absent: Building Inspector Kohnen.
Reel 159 Mr. Milbert moved, and Dr. Slaton seconded the motion, that the 1st,
Side 1 3rd and 4th items under the CONSENT CALENDAR, and the three items
6-59 on the Agenda Addendum, be approved. (see attached)
1. Minutes of the May 6, 1980, Council meeting.
3. Request by Northwestern Bell Telephone Co. , for permit to place
buried cable on the east side of 6th Avenue So. to serve Weckman
TV and Midnight Market.
4. Request by Northwestern Bell Telephone Co. , for permit to place
buried cable in Hopkins South Industrial Park for growth.
A poll of the vote was as follows: Mrs. Arimond, yea; Dr. Slaton, yea;
Mr. Milbert, yea; Mr. Lohmann, yea; and Mayor Miller, yea. Motion carried
• unanimously.
Item. 2, under the CONSENT CALENDAR:
The request for a 1980 license for the HOPKINS THEATRE, for 20 Mechani-
cal Amusement Devices, was withdrawn at the request of the applicant.
Action: Mr. Lohmann moved, and Dr. Slaton seconded the motion, that the request
59-92 by Gary Fey for the HOPKINS FUN CENTER, for a Carnival Permit for his
Grand Openina, May 22nd thru the 26th, be granted, and the hours be
set from 3 - 00 p.m. to 12 p.m. A poll of the vote was as follows: Mr.
Lohmann, yea; Mr. Milbert, nay; Dr. Slaton, yea; Mrs. Arimond, nay; and
Mayor Miller, yea. Motion carried.
Action: Mr. Milbert moved and Mrs. Arimond seconded the motion, that the ex-
92-111 penditures dated May 20, 1980, Warrant No. 593, in the amount of
$229, 374. 32, be approved and authorized for payment. A. poll of the
vote was as follows: Mrs. Arimond, yea; Dr. Slaton, yea; Mr. Milbert,
yea; Mr. Lohmann, yea; and Mayor Miller, yea. Motion carried unani-
mously.
•id: Pursuant to notice bids were opened on May 13 , 1980 at 10 : 00 a.m. , for
Construction of Street Improvements, and the following bids were received:
(see tabulation attached)
Action: Mr. Lohmann moved, and Dr. Slaton seconded the motion, that the Mayor
111-136 and City Manager be authorized to sign a contract on behalf of the
City with Bury & Carlson pursuant to their bid. A poll of the vote
was as follows : Mr. Lohmann, _yea; Mr. Milbert, yea; Dr. Slaton, yea;
Mrs. Arimond, yea; and Mayor Miller, yea. Motion carried unanimously.
HEARING:
Item: 80-54-R. Mr. Milbert moved, and Mr. Lohmann seconded the motion, that
136-263 Resolution INSTALLATIONoOFCONCRETECURB,
B "RESOLUTION
GTTER,PROVING }SIIDEWALK/A b till ON
IMPROVEMENTS ON 5TH, 6TH, 7TH AND 8TH AVENUES NORTH FROM EX-
C :LSIOR AVENUE TO MINNETONKA MILLS ROAD, 1ST, 2ND, 3RD STREET
NORTH AND MINNETONKA MILLS ROAD AND BETWEEN 5TH AVENUE NORTH
AND 8TH AVENUE NORTH, ALSO FOR THE IMPROVEMENT OF THE NORTH-
SOUTH AND THE TWO EAST-WEST ALLEYS IN BLOCK 1, WEST MINNEAPOLIS
JP BETWEEN 5TH AVENUE SOUTH AND 6TH AVENUE SOUTH BY CONCRETE SUR-
FACING AND BLACKTOP TO MEET EXISTING DRIVEWAYS THEREON" , be
adopted. A poll of the vote was as follows: Mrs. Arimond,yea;
Dr. Slaton, yea; Mr. Milbert, yea; Mr. Lohmann , yea; and Mayor
Miller, yea. Motion carried unanimously. (Consulting Engineer,
Archie Carter, waS present,,for this Hearing. )
Minutes of the May 20, 1980, Council meeting, cont. Page 2.
Item: 80-25-Z. Mr. Lohmann moved, and Dr. Slaton seconded the motion, that
111
263- Resolution No.80-2848 , "RESOLUTION RELATING TO THE AUTHORIZA-
TION AND ISSUANCE OF REVENUE BONDS OF THE CITY UNDER MINNESOTA
STATUTES, CHAPTER 474, FOR THE PURPOSE OF FINANCING A PROJECT
THEREUNDER; AND AUTHORIZING AN APPLICATION BY THE CITY TO THE
MINNESOTA COMMISSIONER OF SECURITIES" , be adopted.
Action: Mr. Milbert moved, and Mr. Lohmann seconded the motion, to amend the
original motion by changing under Section 5, subd. 5. 01, "four years"
to"two years" . A poll of the vote was as follows: Mr. Lohmann, yea;
Mr. Milbert, yea; Dr. Slaton, yea; Mrs. Arimond, nay; and Mayor Miller,
nay. Motion carried.
Action: Mayor Miller then called for a vote on the original motion as amended,
-343 and the poll of the vote was as follows: Mrs. Arimond, nay; Dr.
Slaton, yea; Mr. Milbert,yea; Mr. Lohmann, yea; and Mayor Miller, yea.
Resolution adopted.
Item: 80-70-P. Mr. Milbert moved, and Mrs. Arimond seconded the motion to
343- reject the two Purchase Agreements for the purchase of the
R-46 disposition parcel of land by Don Hagen and Herb Mason.
Action: Mr. Lohmann moved to table this motion to the next meeting. Motion
lost for lack of a second.
Action: Dr. Slaton moved, and Mr. Lohmann seconded the motion to amend the
original motion by adding the words "in their present form" . A poll
of the vote was as follows: Mr. Lohmann, yea; Mr. Milbert, yea; Dr.
Slaton, yea; Mrs. Arimond, yea; and Mayor Miller, yea. Motion carried
unanimously.
Action: Mayor Miller then called for a poll of the original motion as amended
-943 and the vote was as follows : Mrs. Arimond, yea; Dr. Slaton, yea; Mr.
Milbert, yea; Mr. Lohmann, yea; and Mayor Miller, nay. Motion carried.
Item: 80-33-R. Dr. Slaton moved, and Mr. Lohmann seconded the motion, that
943-1069 Resolution No. 80-2828 , "RESOLUTION ESTABLISHING THE FAIR
MARKET VALUE AND AUTHORIZATION TO MAKE OFFERS FOR ACQUISITION
OF 309 - 13TH AVENUE NORTH" , by deleting Item 4, be adopted.
A poll of the vote was as follows : Mr. Lohmann, yea; Mr. Milbert
yea; Dr. Slaton, yea; Mrs. Arimond, abstained, and Mayor Miller,
yea. Motion carried.
Item: 80-67-P. Mr. Milbert moved, and Mrs. Arimond seconded the motion, that
1069-1077 Resolution No. 80-2856, "RESOLUTION ORDERING HEARING ON
INSTALLATION OF WATER AND SEWER ON 2ND AVENUE SOUTH" , be
adopted. A poll of the vote was as follows : Mrs. Arimond, yea;
Dr. Slaton, yea; Mr. Milbert, yea; Mr. Lohmann, yea; and Mayor
Miller, yea. Motion carried unanimously.
Item: 80-65-A. Mr. Lohmann moved, and Dr. Slaton seconded the motion, that
1077 to end of the Joint Powers RecreatiOn Agreement with the changes
tape as recommended, be approved and the Mayor and City Manager be
Side 2 authorized to sign same. A poll of the vote was as follows:
2-61 Mr. Lohmann, yea; Mr. Milbert, yea; Dr. Slaton, yea; Mrs.
Arimond, nay; and Mayor Miller, yea. Motion carried.
Item: 80-66-P. Mr. Lohmann moved, and Dr. Slaton seconded the motion, that
61- Resolution No. 80-2857, "RESOLUTION oagf-rcnyEARING ON PETI-
TION FOR CONCRETE CURB AND GUTTER ON/8TH AvtntE SOUTH FROM 7TH
STREET TO 8TH STREET" , be adopted. A poll of the vote was as
follows: Mrs. Arimond, yea; Dr. Slaton, yea; Mr. Milbert, yea;
1/P Mr. Lohmann, yea; and Mayor Miller, yea. Motion carried un-
animously.
Minutes of the May 20, 1980, Council meeting, cont. Page 3.
atem: 80-71-Z. Mrs. Arimond moved, and Mr. Milbert seconded the motion, that
Ordinance No. 80-472 "ORDINANCE VACATING THE REMAINING PART
OF 14TH AVENUE SOUTH STARTING AT 5TH STREET SOUTH AND CONTINU-
ING SOUTH FOR 288. 34 FEET" , be accepted for the second reading
thereof and according to law same to be ordered published. A
poll of the vote was as follows: Mr. Lohmann, yea; Mr. Milbert,
yea; Dr. Slaton, yea; Mrs. Arimond, yea; and Mayor Miller, yea.
Motion carried unanimously.
Item: 80-76-R. Dr. Slaton moved, and Mrs. Arimond seconded the motion, that
Resolution No. 80-2858 , "RESOLUTION ORDERING ENGINEER' S REPORT
ON REPAIR OF SIDEWALKS, CURB AND GUTTER AND STREET RESURFACING
ON 11TH AVENUE NORTH FROM 1ST STREET NORTH TO MINNETONNkMILLS
ROAD" , be adopted. A poll of the vote was as follows :Mrs.
Arimond, yea; Dr. Slaton, yea; Mr. Milbert, yea; Mr. Lohmann,
yea; and Mayor Miller, yea. Motion carried unanimously.
Item: 80-76-E. Mr. Lohmann moved, and Mr. Milbert seconded the motion, that
-77 Resolution No. 80-2859, "RESOLUTION ORDERING HEARING ON REPAIR
OF SIDEWALKS, CURB AND GUTTER AND STREET RESURFACING ON 11TH
AVENUE NORTH FROM 1ST STREET NORTH TO MINNETONKA MILLS ROAD" ,
Sbe adopted. A poll of the vote was as follows: Mr. Lohmann,
yea; Mr. Milbert, yea; Dr. Slaton, yea; Mrs. Arimond, yea; and
Mayor Miller, yea. Motion carried unanimously.
Item: 80-77-R. Mr. Lohmann moved, and Dr. Slaton seconded the motion, that
-90 Resolution No. 80-2853, "RESOLUTION AUTHORIZING AGREEMENT FOR
USE OF ALERT J3A PORTABLE BREATH TEST UNITS" , be adopted. A
poll of the vote was as follows: Mrs. Arimond, yea; Dr. Slaton,
yea; Mr. Milbert, yea; Mr. Lohmann, yea; and Mayor Miller, yea.
Motion carried unanimously.
Item: 79-101-A. Dr. Slaton moved, and Mr. Lohmann seconded the motion, that
90- the Mayor' s appointment on the Omnibus Commission to replace
Mr. Barbeau, who resigned, be tabled. A poll of the vote was
as follows: Mr. Lohmann, yea; Mr. Milbert, yea; Dr. Slaton,
yea; Mrs. Arimond, yea; and Mayor Miller, yea. Motion carried
unanimously.
Item: 80-78-C. Mrs. Arimond moved, and Mr. Milbert seconded the motion, that
-120 Council approve the Contract between the City of Hopkins and
IIIOffice
Minnesota Legal Services for Hopkins Legal Services
Office using Community Development Block Grant Funds, be ap-
proved and the Mayor and City Manager be authorized to sign
same. A poll of the vote was as follows : Mrs. Arimond, yea;
Dr. Slaton, yea; Mr. Milbert, yea; Mr. Lohmann, yea; and Mayor
Miller, yea. Motion carried unanimously.
Item: 80-79-D. Discussion of parking lot between 10th and 11th Avenue South.
120- No formal action taken.
Item: 80-81-D. Discussion re Abandonment of C&NW R.R. Line. No formal action
taken.
Action: Dr. Slaton moved, and Mr. Milbert seconded the motion, that the meeting
+-219 be adjourned. Motion carried. ,
A-L.4( 4 ..
Dorothy . Johns. Secretaryi to Council
COUNCILMEMBERS•
7
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ATTEST: > 2 .1 wC 64„6„, y /
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J-erre A. Miller, Mayor
The Council of the City of Hopkins, Minnesota, sat as the Board of
Equalization on Tuesday, May 13, 1980, at 7 : 30 p.m. , and continued to
Tuesday, May 20, 1980, at 7 : 30 p.m. in the Council Chambers in the City
111 Hall.
Present at the May 13th meeting were Mayor Protem Milbert, Councilmembers
Slaton and Arimond, also City Clerk-Assessor Richardson, Appraiser Renne,
and Deputy County Assessor Martin.
Present at the May 20th meeting were Mayor Miller, Councilmembers Lohmann,
Milbert, Slaton and Arimond, also City Manager Craig, City Clerk-Assessor
Richardson, Appraiser Renne, City Engineer Strojan, Asst. Engineer Anderson,
Operations Director Beecher and City Attorney Vesely.
After considerable discussion the following recommendations were approved:
Dr. Slaton moved, and Mr. Milbert seconded the motion, to adjust the
following:
112 Wayside Road - change from $79, 000 to $73, 000
211 - 19th Ave. No. " $38, 400 to $34, 400
011 A poll of the vote was as follows: Mr. Lohmann, abstained; Mr. Milbert,
yea; Mrs. Arimond, yea; Dr. Slaton, yea; and Mayor Miller, abstained. Motion
carried.
Meeting adjourned.
/ :Ilr/ 2711 L
H. E. Richardson, Clerk-Assessor
!d `
Jerre A. Miller, Mayor
Vill
a
41/980 License Council Approval May 20, 1980
#194 Hopkins Theatre 20 Mechanical Amusement Devices
429 Excelsior Ave. W.
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411
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AGENDA ADDENDUM
May 20, 1980 Council Agenda
411 CONSENT CALENDAR
LICENSES: Additional 1980, misc. license applications : WESTBROOKE
DELI , Restaurant; KNIGHTS OF COLUMBUS, Auctioneer - 1 day;
April 20, 1980; Evelyn McCoy, Popcorn Wagon; 902 2nd St. N.E. ;
ACTION REQUIRED: Approve.
I
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EXHIBITA
111 1. Project 78-32A - Curb, gutter and driveways on Fifth, Sixth, Seventh and Eighth
Avenue North from First Street North to Minnetonka Mills Road, total cost being
$62,058.73.
2. Project 78-32B - Sidewalks on Fifth, Sixth, Seventh and Eighth Avenue North from
First Street North to Minnetonka Mills Road, total cost being $143,717.37.
3. Project 78-32C - Street surfacing on Sixth, Seventh Avenue North from First Street
North to Minnetonka Mills Road, total cost being $67,776.41.
4. Project 78-25 - Concrete alley between 5th and 6th Avenue South, between Excelsior
Avenue and Second Street South, total cost being $16,972.31.
S
CERTIFICATION OF MINUTES RELATING TO
$ COMMERCIAL DEVELOPMENT REVENUE BONDS
(HOPKINS OFFICE BUILDING PROJECT)
IIIIssuer: City of Hopkins , Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting,
held on May 20, , 1980, at 7 :30 o' clock P .M. , at Hopkins City Hall.
Members Present:Mayor Miller, Councilmembers Milbert, Lohmann, Slaton and
Arimond. -
Members absent: None
Documents Attached:
Minutes of said meeting (pages) :
MINUTES OF PUBLIC HEARING
ON PROPOSED PROJECT
RESOLUTION NO. 80- 2848
I
•
I, the undersigned, being the duly qualified and acting
recording officer of the public corporation issuing the obligations
referred to in the title of this certificate, certify that the docu-
ments attached hereto, as described above , have been carefully com-
pared with the original records of said corporation in my legal
custody, from which they have been transcribed; that said documents
are a correct and complete transcript• of the minutes of a meeting
of the governing body of said corporation, and correct and complete
copies of all resolutions and other actions taken and of all docu-
ments approved by the governing body at said meeting, so far as they
- relate to said obligations; and that said meeting was duly held by
the governing body at the time and place and was attended through-
'
out by the members indicated above, pursuant to call and notice of
such meeting given as required by law.
WITNESS my hand officially as such recording officer this
22nd day of May , 1980.
ezi74.eiz_,,,,t_-
Signature
H. E. Richardson, City Clerk
(SEAL) Name and Title
41The Mayor stated that this was the time and place
fixed by resolution of this Council, adopted on April 1 , 1980 ,
for a public hearing on the proposal that the City undertake
and finance the acquisition of certain land and the construction
and equipment thereon of two office buildings , parking and related .
facilities (the Project) of behalf of Donald F. Hagen and Herbert
A. Mason pursuant to Minnesota Statutes , Chapter 474 . The City
Clerk presented affidavits showing publication of the notice of
the public hearing at least once not less than 15 nor more than
30 days prior to the date fixed for hearing in the Hopkins Sun,
410 being the official newspaper of the City and the Minneapolis
Star Tribune, beinga newspaper of general circulation in the
/
City. The affidavits were examined, found to be satisfactory
and ordered placed on file with the City Clerk.
The Mayor then opened the meeting for public hearing on
r
the proposed Project. The purpose of the hearing was explained,
the nature of the Project and of the proposed revenue bonds were
discussed, the draft copy of the application to the Commissioner .
of Securities with all attachments and exhibits was available , and
all persons present who desired to do so were afforded an oppor-
tunity to express their views with respect to the proposal to
111 undertake and finance the Project. The following views or opinions
on theproposal were stated:
Name of Speaker Summary of Opinion Stated
-1-
Name of Speaker Summary of Opinion Stated
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After all persons who wished to do so had stated their
views on the proposal, the, Mayor declared the hearing to be closed.
After some discussion, Councilman Lohmann
introduced the following resolution and moved its adoption :
•
RESOLUTION NO. 80- 2848
RESOLUTION RELATING TO THE AUTHORIZATION AND
ISSUANCE OF REVENUE BONDS OF THE CITY UNDER
MINNESOTA STATUTES , CHAPTER 474 , FOR THE
PURPOSE OF FINANCING A PROJECT THEREUNDER;
411 AND AUTHORIZING AN APPLICATION BY THE CITY
TO THE MINNESOTA COMMISSIONER OF SECURITIES
BE IT RESOLVED by the City Council of the City of Hopkins ,
Minnesota (the City) , as follows :
Section 1. Recitals.
1. 01. The Legislature of the State of Minnesota in Minne-
sota Statutes , Chapter 474 , as amended (the Act) , has found and
declared that the welfare of the State requires active promotion,
-2-
41/attraction, encouragement and development of economically sound
industry and commerce through governmental acts to prevent, so
far as possible , emergence of blighted lands and areas of chronic
unemployment, has authorized municipalities to issue revenue bonds
to finance, in whole or in part, the cost of the acquisition, con- _
struction, reconstruction, improvement and betterment of projects,
including any properties , real or personal, used or useful in
connection with a revenue-producing enterprise engaged in any
business , and has authorized municipalities to enter into "revenue
agreements , " as defined in the Act, with any person, firm or pub-
lic or private corporation or federal or state governmental sub-
division or agency Cthe Contracting Party) providing for the
payment by the Contracting Party of amounts sufficient to pro-
vide for the prompt payment of principal and interest on the
revenue bonds.
1. 02 . It has been proposed that the City issue its
revenue bonds or revenue notes (whether revenue bonds or revenue
notes , herein referred to as the Bonds) , pursuant to the authority
of the Act, in an amount not exceeding in aggregate principal amount
4$2, 600, 000, or such lesser amount as may be necessary to finance
all or a portion of the costs of the acquisition of certain land
located in. the City and the construction and equipment thereon of
two office buildings containing approximately 29, 000 square feet •
and 10 ,000 square feet, respectively, parking and related facili-
ties (all such properties being hereinafter referred to as the
Project) , and to make the proceeds of the sale of the Bonds
available to Donald F. Hagen and Herbert-A. Mason (the Developers) ,
who will agree to pay the City amounts sufficient to pay promptly
the principal of and interest on the Bonds, and will agree to
cause the Project to be constructed. The Project is presently
estimated to cost approximately $2, 830, 000.
1. 03. The City has been advised that conventional, com-
mercial financing to pay the capital cost of the Project is avail-
able only on a limited basis and at such high costs of borrowing
that the scope of the Project or the economic feasibility of
operating the Project would be significantly reduced, but that
with the aid of municipal financing, and its resulting low borrow-
ing costs , the Project can be constructed as designed and its
Soperation is economically more feasible.
1 . 04. This Council has been advised by The Steinberg
Financial Corporation (the Mortgage Banker) , the proposed mortgage
bankers with respect to the Bonds described herein, that revenue
bonds of the City could be issued and sold upon favorable rates
and terms to finance the Project.
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Section 2 . Public Hearing.
2 . 01. As required by Section 474 . 01 , Subdivision 7b
of the Act, this Council , pursuant to a resolution adopted on
41/ April 1 , 1980 , called and held a public hearing on the proposal
to undertake and finance the Project. Notice of the time and
place of the hearing , and stating the general nature of the
Project and an estimate of the principal awount of revenue bonds
to be issued to finance the Project, was published at least once
not less than fifteen days nor more than thirty days prior to the
date fixed for the hearing in the official newspaper of the City
and a newspaper of general circulation of the City. A draft copy
of the proposed application to the Minnesota Commissioner of
Securities , together with all attachments and exhibits thereto,
was available for public inspection following the publication of
such notice at the place and times set forth in the notice.
2 . 02 . All parties who appeared at the public hearing
were given an opportunity to express their views with respect
to the proposal to undertake and finance the Project. This
_ Council has heard and considered the views expressed at the
public hearing and the information submitted to the City by the
Developers and the Mortgage Banker.
411 Section 3 . Approvals and Authorization.
3 . 01. On the basis of information given the City to
date , and the views expressed at the public hearing, it is found
and determined that the Project furthers the purposes stated in
Section 474 . 01 of the Act, and that it would be in the best in-
terest of the City to issue the Bonds under the provisions of the
Act to finance costs of the Project in 'an amount not to exceed
$2, 600, 000 . The City agrees that the Project may be undertaken
in two phases, that tha first phase may be financed independently
of the second phase, and that the Developer may, at a subsequent
time, reasonably determine that it is not economically feasible
to undertake the second phase of the Project.
3 . 02 . The Project is hereby given preliminary approval
by the City and the issuance of the Bonds for such purposes
approved. The Bonds shall not be issued until the Project has
been approved by the Commissioner of Securities as provided by
the Act and until the City , the Developers and the Mortgage
Banker have agreed upon the details of the Bonds and provisions
for their payment.
3 . 03 . If the Bonds are issued and sold , the City will
enter into a lease , mortgage , direct or installment sale contract,
loan agreement , take or pay or similar agreement, secured or un-
secured, satisfying the requirements of the Act (the Revenue
Agreement) with the Developers. The amounts payable by the
Developers to the City under the Revenue Agreement will be
sufficient to pay the principal of , interest and redemption
premium, if any , on the Bonds as and when the same shall become
due and payable.
-4-
3. 04 In accordance with the Act, the Mayor and City Clerk are
hereby authorized and directed to submit the proposal for the Project to
the Minnesota Commissioner of Securities for her approval of the Project.
The Mayor, City Manager, City Clerk, City Attorney and other officers,
Oliemployees and agents of the City are hereby authorized to provide the
Commissioner with any preliminary information she may need for this purpose,
and the City Attorney is authorized to initiate and assist in the prepara-
tion of such documents as may be appropriate to the Project.
3. 05. The City will comply with all of the provisions of the Act,
including Section 474. 01, Subdivision 8 thereof, in the issuance of the
Bonds and the financing of the Project.
Section 4. Special Obligations.
4 . 01. In all events, it is understood, however, that the
revenue bonds of the City shall not constitute a charge, lien or encumbrance,
legal or equitable, upon any property of the City except the Project, if
it becomes the property of the City, and each Bond, when, as and if issued,
is payable solely from the revenues received from the Project and property
pledged to the payment thereof, and shall not constitute a debt of the City.
Section 5. General Provisions.
5 . 01. All commitments of the City hereunder are subject to the
conditions that within two years from the date hereof (or such other date
411
as shall be mutually satisfactory to the City and the Developers) , the
Commissioner of Securities of the State of Minnesota shall have approved
the Project and the City and the Developers shall have agreed to mutually
acceptable terms and conditions of the Revenue Agreement, the Bonds and of
the other instruments and proceedings relating to the Bonds.
5. 02 . If the events set forth above do not take place within the
time set forth or any extension thereof and the Bonds are not sold within
such time, the Developers have agreed that they will reimburse the City,
upon request, for all reasonable and necessary direct out-of-pocket expenses
which the City may incur.
5. 03. The applicant has agreed to pay directly or through the
City any and all costs incurred by the City in connection with the project
whether or not the project is approved by the Commission of Securities;
whether or not the project is carried to completion; and whether or not the
bonds or operative instruments are executed.
5. 04. The adoption of this resolution does not constitute a
4111 guarantee or a firm commitment that the City will issue the bond as requested
by the applicant. The City retains the right in its sole discretion to
withdraw from participation and accordingly not issue the bonds should the
City at any time prior to the issuance thereof d:termine that it is in the
best interest of the City not to issue the bon. or should the parties to
the transaction be unable to reach agreeme. . s to the germs and conditions
of any of the documents required for the 'ra, .acti
,' ALKIA, I
/ Mayor
Attest: Agri_ pis
City Cler
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01/
The motion for the adoption of the foregoing resolution
was seconded by Councilman Slaton , and upon
vote being taken thereon, the following voted in favor thereof:
Slaton, Milbert, Lohmann and Miller.
and the following voted against the same: Arimond
whereupon said resolution was declared duly passed and finally
adopted.
411
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11, STATEMENT CONCERNING A PROPOSED PROJECT
UNDER MINNESOTA STATUTES, CHAPTER 474
The undersigned, being the duly qualified and
acting Mayor and City Clerk, respectively, of the City
of Hopkins, Minnesota (the City) , certify that the City
has been provided by Donald F. Hagen and Herbert A. Mason
(the Developers) with certain information concerning a
proposed project under the Minnesota Municipal Industrial
Development Revenue Act, Minnesota Statutes , Chapter 474 ,
as amended (the Act) . On the basis of such information the
City Council, by resolution adopted May 6 , 1980, after public
hearing duly noticed and held on May 6 , 1980, has given
preliminary approval to the proposed project and the financing
thereof by the issuance of revenue bonds or revenue notes of
the City. The following are factors considered by the City
Council in determining to give preliminary approval to the
project:
1. The Developers state that the project consists
generally of the acquisition of certain land in the City and
the construction, furnishing, equipping, improvement and
betterment of certain real and personal properties in the City
to be used as office buildings, parking and related facilities.
2. Dorsey, Windhorst, Hannaford, Whitney &
Halladay, Bond Counsel, are of the opinion that the project
constitutes a "project" as defined in Minnesota Statutes ,
Section 474. 02, Subdivision la.
3. The Developers estimate that, upon completion
of the project, the tenants of the project will employ
approximately 35 persons in addition to those currently
employed by such tenants in the City. The City Council is
concerned about the level of unemployment in the area and
the resulting movement of persons to other areas where
jobs are more plentiful, and believes that the existence
of the project in the City would help alleviate those
problems.
4. The Developers estimate that the acquisition and
• construction of the project will result in an additional
annual payroll of approximately $420 , 000 based on wage rates
currently in effect. The City Council believes that a sub-
stantial percentage of that additional payroll will be spent
on housing, food and other goods and services in the City and
surrounding area, thus benefiting the local economy.
5. The project, when in place, will add to the
tax base of the City.
6. The City Council believes that the project,
when completed, will be compatible with present and
projected development in the area.
7. Upon entering into the Revenue Agreement, as
defined in the Act, the information required by Section •
474. 01, Subdivision 8 of the Act will be submitted to the
Department of Economic Development.
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8. The project does not include any property to
be sold or affixed to or consumed in the production of
property for sale, and does not include any housing facility
to be rented or used as a permanent residence.
Mayor
"City Clerk
S
•
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CM-00424-01
This Application must be submitted to Commissioner in duplicate
STATE OF MINNESOTA
DEPARTMENT OF COMMERCE — SECURITIES DIVISION
APPLICATION
FOR APPROVAL OF MUNICIPAL INDUSTRIAL REVENUE BOND PROJECT
Date May 2 2 , 19 80
To:
Minnesota Department of Commerce
Securities Division
500 Metro Square Building
St. Paul, Minnesota 55101
The governing body of Hopkins , County of Hennepin
Minnesota, hereby applies to the Commissioner of the State of Minnesota, Securities Division of the
Department of Commerce, for approval of this community's proposed municipal Industrial Revenue
Bond Issue, as required by Section 1, Subdivision 7, Chapter 474, Minnesota Statutes.
We have entered into preliminary discussions with:
FIRM Donald F. Hagen and Herbert A. Mason
ADDRESS 1014 West Excelsior Boulevard
CITY Hopkins STATE Minnesota
State of Incorporation Individuals
Robert Silverman 2300 First National Bank Bldg.
Attorney Dorsey, Windhorst, Address Minneapolis, Minnesota 55402
Hannaford, Whitney & Halladay
Name of Project Hopkins Office Building Project
This firm is engaged primarily in (nature of business): Developing office/medical
buildings
The funds received from the sale of the Industrial Revenue Bonds will be used to (general nature of
project): Acquisition of certain land located in the City of Hopkins and constructing
and equipping thereon two office buildings containing approximately 29,000 square
feet and 10,000 square feet, respectively, parking and related facilities.
It will be located in Hopkins, Minnesota
The total bond issue will be approximately $ 2,600,000 to be applied toward payment of
costs now estimated as follows:
Cost Item Amount
Land Acquisition and Site Development $ 170,000
Construction Contracts - Phase I 1.650,000
Equ+ eFil- sitiefl-ar44.-1•astallat-iea Phase II 650.000
Architectural and Engineering Fees 60,000_
Legal Fees
Interest during Construction & Financing l5n non
Initial Bond Reserve Expenses
Contingencies
Bond Discount
Other
•
Phase I
it is presently estimated that/construction will bf:gi:-i on or about June 1 _, 19 80 ,
and will he completed on or about _ June 1 , 19 81 . When completed, there will be
approximately 35 new jobs created by the project at an annual payroll of approximately
$ 420,000 based upon currently prevailing wages. It is estimated that Phase II con—
struction will begin on or about June 1, 1982, and will be completed on or about June
el
The tentative term of the financing is years, commencing
19
The following exhibits are furnished with this application and are incorporated herein by reference:
1. An opinion of bond counsel that the proposal constitutes a project under Minnesota Stat.,
Chapter 474.02.
2. A copy of the city council resolution giving preliminary approval for the issuance of its revenue
bonds.
3. A comprehensive statement by the municipality indicating how the project satisfies the public
purpose of Minnesota Stat., Chapter 474.01.
4. A letter of intent to purchase the bond issue or a letter confirming the feasibility of the project
from a financial standpoint.•
_
5. A statement, signed by the Mayor, to the effect that upon entering into the revenue agreement,
the information required by Minn. Stat. Sec. 474.01 Subd. 3 will be submitted to the Depart-
ment of Economic Development.
6. A statement signed by the Mayor, that the project does not include any property to be sold or
affixed to or consumed in the production of property for sale, and does not include any housing
facility to be rented or used as a permanent residence.
7. A statement signed by the Mayor that a public hearing was conducted pursuant to Minn. Stat.
474.01 Subd. 7b. The statement shall include the date, time and place of the meeting and that
all interested parties were afforded an opportunity to express their views.
8. A copy of the notice of publication of the public hearing.
We, the undersigned, are duly elected representatives of Hopkins , Minnesota,
and solicit your approval of this project at your earliest convenience so that we may carry it to a final
conclusion.
• Signed b. . ( incipa! Officers))
j/E%
��, Mayor
` r
-Pt ��� A City Manager
This approval shall not be deemed to be an approval by the Commissioner or the state of the
feasibility of the project or the terms of the lease to be executed or the bonds to be issued therefor.
Date of Approval
•
Commissioner of Securities
Minnesota Department of Commerce