1993-106
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Extract of Minut s of Meeting
of the City Council of the City
of Hopkins, Hennepin County, Minnesota
Pursuant to due oall and notice thereof a regular meettng of the C1tyCounci1
of th City of Hopkins, Hennepin Cqunty, Minnesota, was held at the City Hall in the
City on Tuesday, October 5, 1993, commencing at 7:30 P.M.
The following members of the Counc11 were present:
Councilmember Anderson Councilmember Kritzler
Cbuncilmember Resch Councilmember Maxwell
Mayor Redepenning
and the following were absent:
None
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The followin&written resolution was presented by Counc11meD1b~r Res ch
who moved its adoption the reading of which had been dispensed with by unanimous
o oons nt:
RESOLUTION NO. 93-106
RESOLUTION PROVIDING FOR THE ISSUANCE AND
SALE OF GENERAL OBLIGATION REFUNDING BONDS,
SERIES 1993~~ SERIES 1993B. SERIES IS93C AND SERIES 1993D
BE IT RESOLVED by the City Counell of the City of Hopkins, Henn~pin
County J Minnesota (City) as follows:
1. It is determined that:
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(a) The City 1s authorized by the provisions of Minnesota Stat~t s.
Chapter 475 (Act) and Seotion 475.67, Subdivisions 4 through 12 of the Act
to issue and sell its general obligation bonds to refund outstanding bonds
when determined by the City Council to be necessary and desirable for the
reduction of debt service or interest cost and the adjustment ofmaturitles of
outstanding issues of bonds.
(b) It is necessary and desirable for the reduction of interest cost
and the adjustment of maturities of bonds that the City issue: General
Obligation Redevelopment Refunding Bonds, Series 1993A (Series 1993A
Bonds); Gen ral Obligation Storm Sewer R venue.Refunding Bonds, S ri s
1993B (Series 1993B Bo~d8); General Obligation Redevelopment Refunding
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Bonds, S ries.1993C (Series 1993C Bonds); and General Obligation Park and
Recreation Faci1iti 8 Refunding Bonds, Series 1993D (Series 1993D Bonds)
(collectively, the Series 1993 Bonds) to refund in advance of maturity certain
outstanding general obligations ot the City..
(c) The outstandin~ bonds to be refunded by the Series 1993 Bonds
al'E) 8S follows: .
$2..145,000 General Obligation Redevelopment Bonds, Series 1988A,
dated Hay 1 ,1988, outstanding maturities of which are to be
refunded by the Series ~~93A Bonds;
$2, 790,000 General Obligation Storm Sewer Revenue Bonds, Series
1989, dated December 1 J 1989, outstanding maturities of which are to
be refunded by the Series 1993B Bonds;
$1 J 390,000 General ObUgation Redevelopment Bonds, Series 1989, dated
December 1) 1989 and $1,330,000 General Obligation Redevelopment
Refunding Bonds, Series 1990, dated March 1, 1990, outstanding
maturities of which are to be refunded by the Series 1993C Bonds; and
$2,805,000 General Obligation Park and Recreation Facilities Bonds,
Series 1990, dated March 1;t 1990, outstandini'maturities of which are
to be refunded by the Series 1993D Bonds;
2. Evensen Dodge, Inc. 1s authorized and directed to ne~otiate the terms
of sale of the Serias 1993 Bonds, including the principal amount of each series
thereof.. The City Council will meet at 7:30 p.m. on October 19t1993, to consider
proposals on the Saries 1993 Bonds and take other appropriate action with respect
to the Series 1993 Bonds.
The motion for the adoption of the foregoing resolution was duly seconded by
Councllmember
Maxwell
, and upon vote being taken thereon the following
members voted in favor of the motion: Councilmember Anderson, Councilmember Hesch,
Counci1member Kritz1er, Counci1member Mamve11, Mayor Redepenning
and the following voted against:
None
whereupon the resolution was declared duly passed and adopted..
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. STATE OF MINNESOTA )
)
COUNTY OF HENNEPIN )
)
CITY OF HOPKINS )
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I, the undersigned. being the duly qualified and acting City Clerk of the City
of Hopkins, Minnesota, hereby certify that I have carefully compared the attached
and foregoing extraot of minutes of a re~lar mastini' of the City Council of the City
held on Tuesd.ay, October 5, 1993, with the original minutes on file in my office and
the extract i8 a full, tru9 and correct copy of the minutes, insofar as they relate to
tho issuance and sale of General Obligation Refunding Bonds, Series 1993A) Series
1993B, Series 1993C and Series 1993D of the City.
WITNESS My hand as City Clerk and the corporate seal of the City this ~
day of
October ,1993.
(SEAL)
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1IP110-4'
it Clerk
y of Hopkins, Minnesota