2017-037 Calling a Public Hearing on a Proposed Proerty Tax AbatementCITY OF AOPKINS, MINNESOTA
RESOLUTION NO. 2017-037
RESOLUTION CALLING PUBLIC HEARiNG ON A PROPOSED
PROPERTY TAX ABATE�IEN'C AND PROVIDINC FOR THE
SAL� OF CENERAL OBLICATION TAX AI3ATCMENT BONDS,
SERIES 2017B
BE IT RESOLVED By the City Co�mcil ofthe City ofHopkins, Minnesota (the "City"), as follows:
1. Pw�suant to Minnesota Statutes, Sections 469.1812 Chrough 469.]815, as ai��ended (the
"AcP'), tl�e City may grant an abatement of all or a part of the taxes levied by the Ciry on real prope�ty
within its boundaries (Cl�e "AbatemenP') and issue general obligation bonds to financepublic 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 T2x Abatement Bonds, Series 2017B
(the "Bonds"), in the proposed aggregate principal amount of $1,905,000, to tinance improvements to
Bumes Park in the City.
3. In accordance with the Act, the City Council hereby calis for a public hearing on Tuesday,
May 16, 2017, at approximatcly 7:00 P.M., to consider the proposed Abatement for the purposes described
hcrein.
4. The City Clerk is authorized and directed to publish a notice of public hcaring in
substantially thc fonn set forth in EXHiBIT A attached hereto in the official newspaper of the City more
than 10 days but less tl�an 30 days before the date of the pubiic hearing.
5. The City has rcYained Ehlcrs & Associates, Ine., in Rosevillc, Minnesota ("Ehlcrs"), 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, June 20, 2017, at 7:00 PM, for the purpose of
consideriog sealed proposals for and awarding the sale of the Bonds.
7. In conncetion with said salq the officcrs or employccs arc hereby auChorized to takc all
otl�er actions needed to bring the proposed AbatemenY 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.
Adopted by the City Coiinci] of the City of Hopkins, Minnesota, this ] 8'� day of April, 2017.
�G� � � �' �.
Molly C� �mings, Mayor
ATTEST:
�a�;����
Amy Domeier, City Clerlc
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EXHIBIT A
FORM OF NOTICE O� PUBLIC HEARING
CITY OF HOPKINS
COUNTY OF HENNEPIN
STATE OF MINNESOTA
NOTICE OF PUBLIC HEARING REGARDING A PROPOSED PROPERTY TAX
ABATEMENT
NOTICE IS HEREBY GIVEN that the CiCy Council of the City of Hopkins, Minnesota (the "City")
will hold a public hearing on Tucsday, May 16, 2017, at or after 7:00 P.M. in the Ciry Council Cl�ambers
at City Hall, ] Ol0 First Street South in the City, concerning a proposal that the City abate all or a portion
of property Caxes levied by the City on the properties located in the follo�ving areas of the City (the
"Property"):
24-117-22-12-0007
24-117-22-13-0004
24-117-22-14-0007
24-]17-22-14-OlOI
24-177-22-14-0005
24-117-22-14-0100
24-117-22-14-0004
24-177-22-14-0091
24-117-22-14-0092
24-117-22-14-0093
24-I17-22-41-0038
24117-22-41-0027
24-117-22-14-0013
24-117-22-14-0012
24-I U-22-14-0011
24-]17-22-14-0010
24-1 U-22-14-0009
24-117-22-41-0039
24-117-22-41-0060
The tota] amou��t of tl�e taxes proposed to be abated by the City on the Property is estimated to be
approximaCely $1,905,000. The City Council wiI] consider the property tax abatemcnY in connection with
financing ceitain public infrastructw'e improvements, including but not limited Co improvements to Burnes
Park in the City.
At the time and place fixed far the public hearing, the City Council will givc all persons who appear
at the hearing an opportunity to express their views with respect to the proposal. In addition, interested
persons may direct any questioils or file written comments respecting the proposal with the City Clerk, at
or prior to said public hearing.
Dated: April 27, 2017
BY ORDER OF THE CITY COUNC[L OF THL
CITY OF HOPKINS, MINNESOTA
/s/ Amv Domeier
City Clerk
City of Hopkins, Minnesota
A-I
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