2019-002 Adopting a Capital Improvement Plan and Providing Preliminary Approval for the Issuance of Bonds Thereunder CITY OF HOPKINS,MINNESOTA
RESOLUTION NO.2019-002
ADOPTING A CAPITAL IMPROVEMENT PLAN AND
PROVIDING PRELIMINARY APPROVAL FOR THE ISSUANCE
OF BONDS THEREUNDER
WHEREAS, pursuant to Minnesota Statutes, Section 475.521, as amended (the "Act"), cities are
authorized to adopt a capital improvement plan and carry out programs for the financing of capital
improvements;and
WHEREAS, the City of Hopkins, Minnesota (the "City"), has caused to be prepared the "2019
through 2023 Five-year Capital Improvement Plan for the City of Hopkins, Minnesota" (the "Capital
Improvement Plan");and
WHEREAS, on the date hereof, the City Council of the City (the "Council") conducted a duly
noticed public hearing regarding adoption of the Capital Improvement Plan pursuant to the requirements of
the Act and the issuance of one or more series of general obligation bonds thereunder in a maximum principal
amount of$6,000,000 to finance various capital improvements to the City Hall within the City;and
WHEREAS, in considering the Capital Improvement Plan, the Council has considered for each
project and for the overall Capital Improvement Plan:
1. the condition of the City's existing infrastructure, including the projected need
for repair and replacement;
2. the likely demand for the improvement;
3. the estimated cost of the improvement;
4. the available public resources;
5. the level of overlapping debt in the City;
6. the relative benefits and costs of alternative uses of the funds;
7. operating costs of the proposed improvements; and
8. alternatives for providing services more efficiently through shared facilities with
other local government units.
NOW, THEREFORE, BE IT RESOLVED BY the City Council of the City of Hopkins, Hennepin
County,Minnesota,as follows:
1. The Capital Improvement Plan is hereby approved.
2. City staff are hereby authorized to do all other things and take all other actions as may be
necessary or appropriate to carry out the Capital Improvement Plan in accordance with any applicable laws
and regulations.
3. The City gives preliminary approval to the issuance of the bonds in the maximum principal
amount of$6,000,000,provided that if a petition requesting a vote on issuance of the bonds, signed by voters
equal to five percent (5%) of the votes cast in the last general election, is filed with City Clerk by February
1,2019, the City may issue the bonds only after obtaining approval of a majority of voters voting on the
question at an election.
Approved by the City Council of the City of Hopkins,Minnesota this 2"d day of January,2019.
Molly Cummings,Mayor
ATTEST:
Amy Domeier,City Clerk
548153vl JAE HPI 10-100 2