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� O� O �� O CITY of ORONO �� ��,�� ��- � � '� �',� � RESOLUTION OF T� �I CY COUNCIL "� �J, �� b � .. ' Gti, NO. � ��kESH�4� A RESOLUTION APPROVING CAPITAL IMPROVEMENT PLAN AND CONFIRMING INTENT TO ISSUE BONDS WHEREAS, there has been presented to this Council a Supplemental Capital Improvement Plan (the "Plan") for the County prepared in accordance with Minnesota Statutes, Section 47�.521; and WHEREAS, in preparing the Plan, this Council considered the factors set forth in Minnesota Statutes, Section 475.521, Subd. 3; and WHEREAS, a public hearing was duly called and held on the Plan and the Council's intent to issue bonds for transactions contemplated by the Plan consisting of the construction of a public safet}� annea to include a garage for police vehicles. NOW, THEREFORE, BE IT RESOLVED, b�� the City Council of the Cit�� of Orono, Hennepin County, Minnesota as follows: 1. The Plan is hereby approved. �. The Council's intent to issue bonds pursuant to the Plan is hereby confirmed. The estimated amount of bonds for this purpose is $3,385,000. The issuance of the bonds is subject to a referendum if a petition meeting the requirements of Minnesota Statutes, Section 47�.�21, Subd. 2(c) requesting a vote on the issuance is filed with the City Clerk within 30 days after the date hereof. 3. Sealed proposals for the bonds, to be part of an issue a;gregating approximately $5,380.000; will be received on Tuesday, May 27, 2014, at the offices of Ehlers & Associates, Inc. The City Council will meet at City Hall at 7:00 o�clocl: P.M. on the same day for the purpose of considering the proposals and awarding the sale of the bonds. The terms of the bonds and the sale thereof shall be substantially as set forth in the report of Ehlers & Associates, Inc. on file in the office of the City Finance Director. APPROVING RESOLUTION