07-17-2012 CCA regular meeting of the Hopkins City Council was held on July 17, 2012, in the Council
Chambers of the Hopkins City Hall.
Present were Mayor Maxwell, Council Members Cummings, Gadd, Halverson and Youakim.
Also, present were staff members Elverum, Genellie, Harkess, Morrison and Stadler.
I. CALL TO ORDER
Mayor Maxwell called the meeting to order at 7:44 p.m.
II. PRESENTATION
Mayor Maxwell proclaimed July 28, 2012 to be Heroes Day to Honor Veterans and Their Family
and call upon everyone in Hopkins to join in the celebration of this event at the Nicollet Mall
from 11 am —1 pm.
III. REPORT
Second Quarter Finance Report
Ms. Harkess, Finance Director, gave a review of the 2"d quarter financial and investment report.
Ms. Harkess gave an overview of grants received in the 2"d Quarter, General Fund, Special
Revenue Fund & Enterprise Fund revenues & expenditures, Cash & Investments, interest
earnings and a look ahead to 3Td Quarter.
IV. CONSENT AGENDA
1. Minutes of the July 10, 2012 Work Session
2. Minutes of the July 10, 2012 Council Meeting
3. Minutes of the July 10, 2012 Work Session Following the Council Meeting
4. Approve Execution of Sub -Recipient Agreement with Swervo Development for Met Council
Clean- Up Funds for Mayon Plastics Site (CR 2012-076)
5. Second Reading of Cable Franchise Ordinance 2012-1051 (Memo)
6. Second Reading of Cable Franchise Ordinance 2012-1052 (Memo)
7. Motion to Approve Execution of Sub -Recipient Agreement with Klodt Development for Met
Council Clean-up Funds for Park Nicollet Site (CR 2012- 077)
8. Second Reading Amending Zoning Ordinance (Memo)
9. Authorize Hennepin County Recycling Grant Application (CR 2012-078)
Ms. Elverum updated the Council on Consent Agenda items #4 & #7. The two grants for the
development projects were through the Met Council with the purpose to create jobs and
revitalize the community.
Council Member Halverson moved and Council Member Cummings seconded a motion to
approve the Consent Agenda. A poll of the vote was as follows: Council Member Cummings,
aye; Council Member Gadd, aye; Council Member Halverson, aye; Council Member Youakim,
aye; Mayor Maxwell, aye. The motion carried unanimously.
V. NEW BUSINESS
Provide for the Sale of CIP Bonds, Improvement Bonds and Equipment Certificates (CR 2012-
079)
Ms. Harkess gave an overview of the Bond sale and pre -sale report.
Ms. Stacie Kvilvang of Ehlers & Associates, Inc. gave an overview of the Bond issuance.
Hopkins needs to provide financing for projects scheduled in the city's capital improvement
plan. Ms. Kvilvang gave an overview for the purpose of the sale of the bonds that include funds
for the PIR, water, sewer and storm sewer components of the project and to provide funds for
equipment needs. Current low interest rates make this an excellent opportunity to sell bonds.
Ms. Kvilvang discussed with Council the refinancing of the 2003 GO HRA Revenue Bonds for
an estimated savings of $141,800. Ms. Kvilvang explained the ratings and timeline of the bond
sale.
Council Member Halverson moved and Council Member Gadd seconded a motion to Adopt
Resolution 2012-048 Providing for the Sale of $1,985,000 G.O. CIP Bonds, Series 2012A and
$5,650,000 G.O. Bonds, Series 2012B. A poll of the vote was as follows: Council Member
Cummings, aye; Council Member Gadd, aye; Council Member Halverson, aye; Council Member
Youakim, aye; Mayor Maxwell, aye. The motion carried unanimously.
Other:
Council thanked the Hopkins Raspberry Festival Board & volunteers and the Public Works
Department for their time and effort during the Festival.
VI. ADJOURNMENT
There being no further business, Council Member Cummings moved and Council Member
Youakim seconded a motion to adjourn the meeting. The meeting was adjourned at 8:14 p.m.
Respectfully Submitted,
Debbie Vold
AT PT:
Eugene J. N4axwell, Mayor
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