HomeMy WebLinkAbout2010-09-15 PACKET 08.A.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM #
DATE 9/15/2010
PREPARED BY Finance Robin Roland
ORIGINATING DEPARTMENT DEPARTMENT HEAD
COUNCIL ACTION REQUEST
Reconsider Resolution 2010 -127: Giving preliminary approval for the issuance of the City's
Capital Improvement Plan Bonds in an amount not to exceed $11,700,000 and adopting the
City of Cottage, Minnesota Capital Improvement Plan of 2011 through 2015.
SUPPORTING DOCUMENTS
MEMO /LETTER:
RESOLUTION:
ORDINANCE:
ENGINEERING RECOMMENDATION:
FORM":
ADMINISTRATORS COMMENTS
City Administrator Date
Document l
City of • •- Gro
Finance D
TO: Honorable Mayor and City Council
Ryan Schroeder, City Administrator
FROM: Robin Roland, Finance Director
DATE: September 14. 2010
�
SUBJECT: Reconsider Resolution 2010 -127 "Giving preliminary approval for the
issuance of the City's Capital Improvement Plan Bonds in an amount not to
exceed $11,700,000 and adopting the City of Cottage, Minnesota Capital
Improvement Plan of 2011 through 2015"
INTRODUCTION
Councilmember Justin Olsen has requested that Council reconsider Resolution 2010 -127
which was approved at the September 1, 2010 Council meeting.
DISCUSSION
Resolution 2010 -127 "Giving preliminary approval for the issuance of the City's Capital
Improvement Plan Bonds in an amount not to exceed $11,700,000 and adopting the City of
Cottage, Minnesota Capital Improvement Plan of 2011 through 2015" was passed on a vote of
3 — 1 with Councilmember Olsen voting in the majority. (Mayor Bailey was not in attendance)
Owing to an outstanding item under consideration by the City's Bond Attorney, this is a DRAFT
resolution. Staff will have more information and will clarify the situation at the meeting. The
attached resolution would rescind the adoption of Resolution 2010 -127 and would
acknowledge that if the City were to choose to proceed with issuing the bonds identified for the
projects identified by the September 1, 2010 CIP plan /resolution, it would happen only if a
referendum were held.
Other funding mechanisms are available to the City Council for construction of the Public
Safety /City Hall project specifically identified in the aforementioned CIP plan /resolution.
However, the City Council may wish to suspend any discussion of project funding until more
details of such a facility are identified, which would include a more accurate set of cost
estimates. The City's Bond Counsel will be consulted regarding how to proceed at that time.
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Consider rescinding Resolution 2010 -127.
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE
CITY OF COTTAGE GROVE, MINNESOTA
HELD: September 15, 2010
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Cottage Grove, Washington County, Minnesota, was duly held at the City Hall on September
15, 2010, at 7:30 o'clock P.M., for the purpose in part of rescinding a previously adopted
resolution.
The following members were present:
and the following were absent:
Member
introduced the following resolution and moved its adoption:
RESOLUTION NO.
RESOLUTION RESCINDING
NO. 2010 -127 RELATING TO
10E OF THE CITY'S GENERAL
OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO
EXCEED $11,700,000 AND ADOPTING THE CITY COTTAGE GROVE, MINNESOTA
CAPITAL IMPROVEMENT PLAN OF 2011 1HROUGH 2015 THEREFOR
WHEREAS, at the regular meeting of the City Council (the "Council ") held on
September 1, 2010, following a public hearing, the Council adopted Resolution No. 2010 -127
entitled "Resolution Giving Preliminary Approval ° for the Issuance of the City's General
Obligation Capital Improvement Plan Bonds in an Amount Not to Exceed $11,700,000 and
Adopting the City of Cottage Grove, Minnesota Capital Improvement Plan of 2011 through 2015
Therefor (the " Resolution").
WHEREAS, the City Administrator has informed the Council that a petition requesting a
vote prior to the issuance of the bonds, which has been signed by the requisite 5% of the voters
voting at the last general election, has been filed with the City Clerk on September 2, 2010,
which date is within 30 days of the date the public hearing was held, September 1, 2010.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Cottage
Grove, Minnesota, that the Resolution is hereby rescinded and the City hereby affirms that it will
issue General Obligation Capital Improvement Bonds of the City in an amount not to exceed
$11,700,000 only if the City obtains approval of a majority of the voters voting on the question
of issuing the bonds identified for this specific project.
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The motion for the adoption of the foregoing resolution was duly seconded by
member and, after full discussion thereof and upon a vote being taken
thereon, the following voted in favor thereof:
and the following voted against the same:
Whereupon the resolution was declared duly passed and adopted.
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STATE OF MINNESOTA
COUNTY OF WASHINGTON
CITY OF COTTAGE GROVE
I, the undersigned, being the duly qualified and acting City Clerk of the City of
Cottage Grove, Minnesota, DO HEREBY CERTIFY that I have compared the attached and
foregoing extract of minutes with the original thereof on file in my office, and that the same is a
full, true and complete transcript of the minutes of a meeting of the City Council, duly called and
held on the date therein indicated, insofar as such minutes relate to rescinding Resolution
Number 2010 -127.
WITNESS my hand September 15, 2010.
Caron Stransky, City Clerk
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