Res 2018- 50 Prelim Approval of Issuance of GO Bonds Adopt CIP PlanEXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL
CITY OF MENDOTA HEIGHTS MINNESOTA
HELD: JULY 2, 2018
Pursuant to due call and notice thereof, a regular or special meeting of the City Council of
the City of Mendota Heights, Minnesota, was duly called and held at the City Hall in Mendota
Heights, Minnesota on July 2, 2018, at 7:00 p.m. for the purpose, in part, of giving preliminary
approval to the issuance of general obligation capital improvement plan bonds and adopting the
capital improvement plan.
The following members were present: Mayor Garlock, Councilors Duggan, Miller, Paper,
Petschel
and the following were absent: none.
Councilmember Duggan introduced the following resolution and moved its adoption:
CITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2018-50
RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF
GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT
NOT TO EXCEED $7,000,000 AND ADOPTING THE CITY OF MENDOTA HEIGHTS,
MINNESOTA, CAPITAL IMPROVEMENT PLAN FOR THE YEARS 2018 THROUGH
2022
A. WHEREAS, the City Council of the City of Mendota Heights, Minnesota (the
"City") proposes to issue its general obligation capital improvement plan bonds (the "Bonds") and
adopt the City of Mendota Heights, Minnesota, Capital Improvement Plan for the Years 2018
Through 2022 the "Plan"); and
B. WHEREAS, the City has caused notice of the public hearing on the intention to
issue the Bonds and on the proposed adoption of the Plan to be published pursuant to and in
accordance with Minnesota Statutes, Section 475.521; and
C. WHEREAS, a public hearing on the intention to issue the Bonds and on the
proposed Plan has been held on this date, following published notice of the public hearing as
required by law; and
D. WHEREAS, in approving the Plan, the City Council considered for each project and
for the overall 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 governmental units; and
E. WHEREAS, the City Council has determined that the issuance of general obligation
capital improvement plan bonds in the aggregate principal amount of up to $7,000,000 is the best
way to finance the capital improvements identified in the Plan.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mendota
Heights, Minnesota, that the City hereby adopts the Plan and authorizes the issuance of up to
$7,000,000 aggregate principal amount of general obligation capital improvement plan bonds.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
Neil Garlock, Mayor
ATTEST
Lorri Smith, City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by Mayor
Garlock and, after full discussion thereof and upon a vote being taken thereon, the following voted
in favor thereof: Mayor Garlock, Councilors Duggan, Miller, Paper, Petschel.
and the following voted against the same: none.
whereupon the resolution was declared duly passed and adopted.
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[Bonds must be approved by at least a three-fifths vote of the membership.]
[Issuance of Bonds is subject to a 30 -day reverse referendum after the public hearing.]
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