2015-028 Calling Public Hearing on a Proposed Property Tax Abatement CITY OF HOPKINS
HENNEPIN COUNTY,MINNESOTA
RESOLUTION 2015-028
RESOLUTION CALLING PUBLIC HEARING ON A PROPOSED
PROPERTY TAX ABATEMENT AND PROVIDING FOR THE
SALE OF GENERAL OBLIGATION TAX ABATEMENT BONDS,
SERIES 2015B
BE IT RESOLVED By the City Council of the City of Hopkins, Minnesota (the "City"), as
follows:
1. Pursuant to Minnesota Statutes, Sections 469.1812 through 469.1815, as amended (the
"Act"), the City may grant an abatement of all or a part of the taxes levied by the City on real property
within its boundaries (the "Abatement") and issue general obligation bonds to finance public
infrastructure improvements; provided, however, that the City Council first holds a public hearing
regarding the proposed Abatement.
2. The City proposes to issue its General Obligation Tax Abatement Bonds, Series 2015B
(the"Bonds"), in the proposed aggregate principal amount of$2,970,000, to finance the reconstruction of
various municipal parking lots and renovation of Cottageville Park in the City.
3. In accordance with the Act, the City Council hereby calls for a public hearing on
Tuesday, April 7, 2015, at 7:00 PM, to consider the proposed Abatement for the purposes described
herein.
4. The City Clerk is authorized and directed to publish a notice of public hearing in
substantially the form set forth in EXHIBIT A attached hereto in the official newspaper of the City more
than 10 but less than 30 days before the date of the public hearing.
5. The City has retained Ehlers & Associates, Inc., in Roseville, Minnesota("Ehlers"), as its
independent financial advisor for the Bonds and Ehlers is therefore authorized to solicit proposals in
accordance with Minnesota Statutes, Section 475.60, subdivision 2(9).
6. The City Council shall meet on Tuesday, May 5, 2015, at 7:00 PM, for the purpose of
considering sealed proposals for and awarding the sale of the Bonds.
7. In connection with said sale, the officers or employees are hereby authorized to take all
other actions needed to bring the proposed Abatement before the City Council and to cooperate with
Ehlers and participate in the preparation of an official statement for the Bonds and to execute and deliver
it on behalf of the City upon its completion.
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Adopted by the City Council of the City of Hopkins, Minnesota, this 16th day of March, 2015.
Eugene J. Maxwell, Mayor
ATTEST:
(law ciA
Amy Domeier, City Clerk
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EXHIBIT A
NOTICE OF PUBLIC HEARING
NOTICE OF PUBLIC HEARING REGARDING A PROPOSED PROPERTY TAX
ABATEMENT
NOTICE IS HEREBY GIVEN that the City Council of the City of Hopkins, Minnesota (the
"City") will meet on Tuesday, April 7, 2015, at or after 7:00 PM, City Council Chambers at City Hall,
1010 First Street South in the City, to hold a public hearing concerning a proposal that the City abate all
or a portion of property taxes levied by the City on the properties located in the following areas of the
City(the"Property"):
[Insert legal description of PIDs]
The total amount of the taxes proposed to be abated by the City on the Property is estimated to be
approximately $ . The City Council will consider the property tax abatement in connection
with financing certain public infrastructure improvements, including but not limited to the reconstruction
of various municipal parking lots and renovation of Cottageville Park in the City.
All interested persons may appear and be hard at the public hearing either orally or in writing, or
may file written comments with the City Clerk before the hearing.
Dated: ,2015
BY ORDER OF THE CITY COUNCIL OF
THE CITY OF HOPKINS, MINNESOTA
/s/ Amy Domeier
City Clerk
City of Hopkins, Minnesota
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