HomeMy WebLinkAboutResolution 5713 .a. n .
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CITY of ORONO
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RESOLUTION OF THE CITY COUNCIL
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. . . ... �. . `q.t�ESiI�4' � NO. 5- 7 � ,3
RESOLUTION APPROVING
STREET RECONSTRUCTION PLAN
AND CONFIRMING INTENT TO ISSUE BONDS
.
WHEREAS, there has been presented to the City Council of the City of Orono,
Minnesota(the"City") a Street Reconstruction Plan for the City (the"Plan")prepared in
accordance with Minnesota Statutes, Sectiori 475.58,8ubd. 3b (the"Act"); and
WHEREAS, the City proposes to issue its General Obligation Street
Reconstruction Bonds (the"Bonds") in the original aggregate principal amount of$5,000,000 to
finance the reconstruction activities identified in the Plan; and
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 the Act; and
WHEREAS, a public hearing was held 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 the Act; and
WHEREAS, the City Council has determined that the issuance of Street
Reconstruction Bonds in the aggregate principal arnount of$5,000,000 is the best way to finance
the reconstruction activities identified in the Plan which are eligible under the Act.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF ORONO,
MINNESOTA, AS FOLLOWS:
1. The Street Reconstruction Plan for the City is hereby approved.
2. The Council's intent to issue$5,000,000 in agg�-egate principal amount of
General Obligation Street Reconstruction Bonds under the Plan to finance the reconstruction
activities identified in the Plan is hereby confirmed. The issuance of the bonds is subject to a
referendum if a petition meeting the requirements of Minnesota Statutes, Section 475.58, Subd.
3b(a)(2) requesting a vote on the issuance is filed with the City Clerk within 30 days after the
date hereof.
Page 1 of 2
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CI�'Y of ORONO
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RESOLUTION OF TH C1,T1� 70UNCIL
���kEST�I���G NO. � r i ,,
Motion for the foregoing Resolution was made by Council member
Rahn and seconded by Council member McMillan
upon a vote being duly taken thereon, the following voted in favor of
Council Member�B�mer, �ounci� Member McMillan, Council Member Murphy,
Council Member Rahn, and Mayor White
and the following were against:
None
and the following were absent:
None
WHEREUPON, the Resolution was declared duly passed and adopted the 14th day
of January, 2008.
ATTEST:
� . �/..� �.� ���
Linda S. Vee, City Clerk J es M. White, Mayor
Page 2 of 2
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CITY of ORONO
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RESOLUTION OF THE CITY COUNCIL
�L`�kEsKo�'�G No. 5 7 1 3
RESOLUTION APPROVING
STREET RECONSTRUCTION PLAN
AND CONFIRMING INTENT TO ISSUE BONDS
WHEREAS, there has been presented to the City Council of the City of Orono,
Minnesota(the "City") a Street Reconstruction Plan for the City (the"Plan") prepared in
accordance with Minnesota Statutes, Section 475.58, Subd. 3b (the"Act"); and
WHEREAS, the City proposes to issue its General Obligation Street
Reconstruction Bonds (the "Bonds") in the original aggregate principal amount of$5,000,000 to
finance the reconstruction activities identified in the Plan; and
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 the Act; and
WHEREAS, a public hearing was held 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 the Act; and
WHEREAS, the City Council has determined that the issuance of Street
Reconstruction Bonds in the aggregate principal amount of$5,000,000 is the best way to finance
the reconstruction activities identified in the Plan which are eligible under the Act.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF ORONO,
MINNESOTA, AS FOLLOWS:
L The Street Reconstruction Plan for the City is hereby approved.
2. The Council's intent to issue $5,000,000 in aggregate principal amount of
General Obligation Street Reconstruction Bonds under the Plan to finance the reconstruction
activities identified in the Plan is hereby confirmed. The issuance of the bonds is subject to a
referendum if a petition meeting the requirements of Minnesota Statutes, Section 475.58, Subd.
3b(a)(2) requesting a vote on the issuance is filed with the City Clerk within 30 days after the
date hereof.
Page 1 of 2
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- ��. - CITY of ORONO
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�',�� �G�' RESOLUTION OF THE �IT� COUNCIL
`9 4�' NO. � '-'
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Motion for the foregoing Resolution was made by Council member
xahn and seconded by Council member McMillan
upon a vote being duly taken thereon, the following voted in favor of:
Council Member Bremer, Council Member McMillan, Council Member Murphy,
Council Member Rahn, and Mayor White
and the following were against:
None
and the following were absent:
None
WHEREUPON, the Resolution was declared duly passed and adopted the 14th day
of January, 2008.
ATTEST:
/ / � /
L�it2 ✓C-e� � G� ,> `�? �c./.Cz,�
Linda S. Vee, City Clerk � mes M. White, Mayor
Pa�e 2 of 2
STATE OF MINNESOTA )
COLJNTY OF HENNEPIN ) SS.
I, the undersigned, being the duly qualified and acting City Clerk of the City of Orono,
Minnesota, hereby certify that the above and foregoing Resolution No. 5713 is a true and
correct copy of the Resolution as adopted by the City of Orono on the 14th day of January, 2008.
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City Clerk
City of Orono, Minnesota
fb.us.2511078.01