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9.b Resolution 02-20-18-03 Approving Street Reconstruction PlanRESOLUTION NO. 02-20-18-03 EXTRACT OF THE MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF SCANDIA, MINNESOTA HELD FEBRUARY 20, 2018 Pursuant to due call and notice therefor, a regular meeting of the City Council of the City of Scandia, Minnesota was duly held in said municipality on the 20th day of February, 2018, at 7:00 p.m. The following members were present: The following members were absent: Councilmember ____________ introduced the following resolution and moved its adoption: RESOLUTION ADOPTING A STREET RECONSTRUCTION PLAN AND PRELIMINARILY AUTHORZING THE ISSUANCE AND SALE OF STREET RECONSTRUCTION BONDS THEREUNDER BE IT RESOLVED by the City Council (the “Council”) of the City of Scandia, Minnesota (the “City”), as follows: WHEREAS, on the date hereof, this Council held a public hearing (the “Hearing”) on (i) adoption of a proposed Five-Year Street Reconstruction Plan (2018-2022) (the “Plan”), and (ii) issuance of general obligation street reconstruction bonds (the “Bonds”) thereunder, to finance reconstruction of streets within the City that are rated Poor and Very Poor under the City’s most recent Pavement Management Plan, conducted in 2008 (the “Project”); and WHEREAS, proceeds of the Bonds will be used to defray a portion of the Project costs, all pursuant to Minnesota Statutes, Section 475.58, Subdivision 3b, as amended (the “Act”); and WHEREAS, notice of the Hearing was duly published in the Country Messenger not less than 10 and not more than 28 days prior to the Hearing; and WHEREAS, all persons desiring to be heard at the Hearing were given an opportunity to be heard thereon. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Scandia, Minnesota, as follows: 1. The Plan is approved, with an amendment that provides the maximum aggregate principal amount of general obligation street reconstruction bonds to be issued under the Plan is $4,500,000. 2. It is determined to be in the best interests of the City to issue the Bonds in a maximum aggregate principal amount of $4,500,000 to defray all or a portion of the Project costs. The financing of the Project and the issuance and sale of the Bonds would further the policies and goals of the City as set forth in the Plan. 3. The preliminary issuance of the Bonds is approved. The Bonds will be issued and sold upon no receipt of a petition for a referendum on the issuance of the Bonds under the Act. 4. The actions of City staff and consultants to finalize the Plan and take steps to issue and sell the Bonds are approved and ratified. This Council will consider approval of the issuance and sale of the Bonds at a subsequent meeting. This Resolution is adopted by the City Council of the City of Scandia, Minnesota, this 20th day of February, 2018. _______________________________________ Christine Maefsky, Mayor ATTEST: ___________________________________ Neil Soltis, City Administrator The motion for the adoption of the foregoing resolution was duly seconded by Council Member ________________, and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: whereupon said resolution was declared duly passed and adopted by a unanimous vote of all members present. STATE OF MINNESOTA ) ) COUNTY OF WASHINGTON ) SS. ) CITY OF SCANDIA ) I, the undersigned, being the duly qualified and acting City Administrator of the City of Scandia, Minnesota, certify that I have carefully compared the attached and foregoing extract of minutes of a regular meeting of the City Council held on February 20, 2018 with the original minutes on file in my office and the same is a full, true and correct copy of the minutes insofar as they relate to the adoption of a five-year Street Reconstruction Plan (2018-2022) and the preliminary approval of general obligation street reconstruction bonds thereunder. WITNESS My hand officially as such City Administrator and the corporate seal of the City as of this _____ day of February, 2018. City Administrator City of Scandia, Minnesota (SEAL)