10-22-96A special meeting of the Hopkins City Council was held on October 22, 1996 in the
Council Chambers of Hopkins City Hall.
Present were Mayor Redepenning, Council Members Maxwell, Hesch, Johnson and
Jensen. Also present•were staff members Mielke, and Kemgan and Consultants Bob
Dieke, Sid Inman, and Mark Ruff. -
I. CALL TO ORDER
Mayor Redepenning called the meeting to order at 6:15 p.m.
I1. OLD BUSINESS
• 1. Approval of various actions coriceming issuance of General Obligation
Bonds, Oaks ofi Mainstreet project. (CR96-149) •
Jim Kerrigan explained that this is the last approval for the project to - go ahead and
includes approval of General Obligation Bonds, the Tax Increment Financing
application, and the final site plan. He said that all bonds are General Obligation
Bonds, the first being an Unlimited Tax General Obligation Bond for $3,795,000, the
second being General Obligation Tax Increment Bonds for $500,000, and the third
being General Obligation Taxable Tax Increment Bonds for $680,000.
Council Member Maxwell asked if • the plans have been reviewed. Mr. Kerrigan
answered that both Inspections and Public Works have reviewed and requested
changes on the plans. He said that the architects have indicated that all changes will
be made.
Council Member Johnson moved and Council Member Maxwell seconded a motion to
adopt, subject to staff conditions, Resolution X6-86, authorizing the issuance of the
City's $3,795,000 Unlimited Tax General Obligation Bonds (The Oaks of Mainstreet
Project) Taxable Series 1996B and approving and authorizing the execution of various
documents in connection therewith, and; adopt Resolution 96-87, awarding the sale of
$500,000 General Obligation Tax Increment Bonds, Series 1996C; fixing their form and
specifications; directing their- execution and delivery; and providing for their payment,
and; adopt Resolution 96-88, awarding the sale of $680,000 General Obligation
Taxable Tax Increment Bonds, Series 1996D; facing their form and specifications;
•directing their execution and delivery; and providing for their payment, and; approve the
Final Site Plan dated August 21, 1996, and; approve the Final Tax Increment
Application. A poll of the vote was as follows: Council Member Maxwell, Aye; Council
Member Jensen, Aye; Council Member Hesch, Aye; Council Member Johnson, Aye;
Mayor Redepenning, Aye. The motion was carried unanimously.
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