05-0023R

REPLACEMENT

RESOLUTION OF THE CITY OF DULUTH, MINNESOTA, STATING THE INTENT TO ISSUE AN AMOUNT NOT TO EXCEED $1,300,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS, SERIES 2005.


BY COUNCILOR NESS:

     BE IT RESOLVED, by the city council (the council) of the city of Duluth, Minnesota (the city), as follows:

     Section 1. Under and pursuant to the authority contained in Minnesota Statutes, Chapter 475 and Section 475.521 (collectively the act), the city is authorized to issue general obligation capital improvement bonds to provide funds for capital improvements pursuant to a capital improvement plan approved by the council on December 6, 2004 (the plan).

     Section 2. The city council held a public hearing on January 10, 2005, on the city’s intention to issue bonds in 2005 in an amount not to exceed $1,300,000 for the purposes set forth in the notice of public hearing and on the reallocation of certain bond proceeds as set forth in the notice of public hearing. All persons who desired to speak at the public hearing were heard and written comments were accepted.

     Section 3.

     (a)  The council hereby finds and determines that it is necessary, expedient, and in the best interests of the city’s residents that the city issue, sell and deliver its general obligation capital improvement bonds, Series 2005 (the bonds), in an amount not to exceed $1,300,000, for the purpose of providing funds for continuation of the restoration of the granite and brick facades of City Hall; continuation of the installation of ventilation systems in firehalls; construction of a steel framed, fabric covered storage building to store salt/sand deicing material to protect surface water quality; and construction of a police station in West Duluth;

     (b)  Further, the city previously issued its $800,000 general obligation capital improvement bonds, Series 2004A, dated March 1, 2004 (the 2004A bonds). The council hereby finds and determines that it is necessary, expedient and in the best interest of the city’s residents that the city reallocate, in accordance with the plan, the sum of $170,192 of the proceeds from the 2004A bonds to finance costs of the construction of a police station in West Duluth.

     Section 4.

     (a)  The city clerk shall publish a notice of intent to issue capital improvement bonds and reallocate proceeds of capital improvement bonds in substantially the form on file as Public Document No. ________ as soon as practicable following the public hearing in the official newspaper of the city;

     (b)  If, within 30 days after the date of adoption of this resolution, a valid petition is filed with the city clerk calling for a vote on the proposition of issuing the bonds and/or the reallocation of the proceeds of the 2004A bonds, as applicable, signed by voters residing within the boundaries of the city equal to five percent of the votes cast in the city in the last general election, the bonds and/or such reallocation, as applicable, shall not be issued or reallocated until the question of their issuance and/or reallocation, as applicable, has been authorized by a majority of the voters voting on the question at the next general or special election called to decide the question.


STATEMENT OF PURPOSE:  The purpose of the replacement resolution is to modify Section 2 of the proposed Resolution No. 05-0023. The capital improvement plan statute requires one public hearing on the council’s intention to issue capital improvement bonds. The December 6, 2004, council resolution called for the public hearing to be held on January 10. As questions arose regarding the West Duluth police station project, it appeared that a second public hearing on the intent to issue bonds would be needed, as we believed the administration’s information on the West Duluth police station project would not be presented to the council prior to January 10. As the information was presented on January 6, one public hearing is necessary, and the replacement resolution reflects the single public hearing.

 

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