HomeMy WebLinkAboutResolution No. 2013-086 Extract of Minutes of Meeting
of the City Council of the City of
Columbia Heights,Anoka County,Minnesota
Pursuant to due call and notice thereof a regular meeting of the City Council of the City of Columbia
Heights, Anoka County, Minnesota, was held at the City Hall in the City on Monday, September 23, 2013,
commencing at 7:00 p.m.
The following members of the Council were present: Mayor Peterson, Councilmember Nawrocki,
Councilmember Williams,Councilmember Diehm and Council Member Schmitt
and the following were absent:None
The following resolution was presented by Councilmember Diehm,who moved its adoption:
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RESOLUTION NO.2013-86
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF
GENERAL OBLIGATION IMPROVEMENT AND UTILITY
REVENUE BONDS, SERIES 2013A, IN THE APPROXIMATE
AGGREGATE PRINCIPAL AMOUNT OF$3,500,000
BE IT RESOLVED by the City Council of the City of Columbia Heights,Anoka County, Minnesota
(the"City"),as follows:
Section 1. It is hereby determined that:
(a) The City has duly ordered certain assessable public improvements designated as
Project 1302, including street rehabilitation (the "Assessable Improvements"), pursuant to the
provisions of Minnesota Statutes, Chapters 429 and 475, as amended (collectively, the
"Improvement Act").
(b) The City has also proposed or constructed certain improvements to the City's water,
sewer, and storm sewer systems (the "Utility Improvements") that will be financed with utility
system revenues pursuant to the provisions of Minnesota Statutes, Chapters 444 and 475,as amended
(collectively,the"Utilities Act").
(c) The City has also determined to redeem and prepay the outstanding principal
amount of its General Obligation Improvement and Utility Revenue Bonds, Series 2006A (the
"Refunded Bonds"), dated December 7, 2006, and issued pursuant to the City Charter, the
Improvement Act, and the Utilities Act in the original aggregate principal amount of$4,075,000, of
which$1,325,000 is currently outstanding and subject to redemption as of February 1, 2013.
(d) It is necessary and expedient to the sound financial management of the affairs of the
City to issue its General Obligation Improvement and Utility Revenue Bonds, Series 2013A (the
"Bonds"), in the approximate aggregate principal amount of $3,500,000, pursuant to the City
Charter, the Improvement Act, the Utilities Act, and Minnesota Statutes, Section 475.67,
subdivision 3, to provide financing for the Assessable Improvements and the Utility Improvements
and to redeem and prepay the outstanding Refunded Bonds.
Section 2. Ehlers & Associates, Inc. is authorized to negotiate the sale of the Bonds in the
approximate aggregate principal amount specified in Section 1(d), in accordance with terms of proposal
approved by the Finance Director of the City. The City Council will meet on Monday, October 28, 2013, or
such earlier date as is specified by the City Manager, to consider the sale of the Bonds and take any other
appropriate action with respect to the Bonds.
Section 3. This resolution shall be in full force and effect from and after its passage.
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The motion for the adoption of the foregoing resolution was dul) seconded by Councilmember
Williams, and upon vote being taken thereon the following members voted in favor of the motion:
Councilmember Schmitt, Councilmember Williams, Councilmember Diehm, and Mayor Peterson
and the following voted against: Councilmember Nawrocki
whereupon the resolution was declared duly passed and adopted.
Mayor Gary L. Peterson
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STATE OF MINNESOTA )
COUNTY OF ANOKA )
CITY OF COLUMBIA HEIGHTS )
I, the undersigned, being the duly qualified and acting City Clerk of the City of Columbia Heights,
Minnesota (the "City"), hereby certify that I have carefully compared the attached and foregoing extract of
minutes of a regular meeting of the City Council of the City held on Monday, September 23, 2013, with the
original minutes on file in my office and the extract is a full,true and correct copy of the minutes, insofar as
they relate to the issuance and sale of the City's General Obligation Improvement and Utility Revenue Bonds,
Series 2013A, in the approximate aggregate principal amount of$3,500,000.
WITNESS My hand as City Clerk and the corporate seal of the City this 23`d day of September,
2013.
City Cle
City of mbia Heights,Minnesota
(SEAL)
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