2024-35132368403v2
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE
CITY OF CHANHASSEN, MINNESOTA
HELD: May 20, 2024
Pursuant to due call and notice thereof, a regular or special meeting of the City Council
of the City of Chanhassen, Carver and Hennepin Counties, Minnesota, was held at the City Hall
in Chanhassen, Minnesota on May 20, 2024, at 7:00 P.M. for the purpose, in part, of giving
preliminary approval to the issuance of general obligation capital improvement plan bonds and
adopting the capital improvement plan.
The following members were present:
Ryan
McDonald
Schubert
von Oven
Kimber
and the following were absent:
none
Member von Oven introduced the following resolution and moved its adoption:
RESOLUTION NO. 2024-35
RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF GENERAL
OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO
EXCEED $34,250,000 AND ADOPTING THE CITY OF CHANHASSEN, MINNESOTA,
CAPITAL IMPROVEMENT PLAN FOR THE YEARS 2024 THROUGH 2028
A. WHEREAS, the City Council of the City of Chanhassen, Minnesota (the "City")
proposes to issue its general obligation capital improvement plan bonds, in one or more series,
(the "Bonds") and adopt the City of Chanhassen, Minnesota, Capital Improvement Plan for the
years 2024 through 2028 (the "Plan"); and
B. 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 Minnesota Statutes, Section 475.521; and
C. WHEREAS, a public hearing 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 law; and
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D. WHEREAS, in approving the Plan, the City Council considered for each project
and for the overall Plan:
1. The condition of the City's existing infrastructure, including the projected
need for repair and replacement;
2. The likely demand for the improvement;
3. The estimated cost of the improvement;
4. The available public resources;
5. The level of overlapping debt in the City;
6. The relative benefits and costs of alternative uses of the funds;
7. Operating costs of the proposed improvements; and
8. Alternatives for providing services more efficiently through shared
facilities with other local governmental units; and
E. WHEREAS, the City Council has determined that the issuance of general
obligation capital improvement plan bonds in the aggregate principal amount of up to
$34,250,000 is the best way to finance the capital improvements identified in the Plan.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Chanhassen, Minnesota that the City hereby adopts the Plan and authorizes the issuance of up to
$34,250,000 aggregate principal amount of general obligation capital improvement plan bonds.
The motion for the adoption of the foregoing resolution was duly seconded by member
Kimber and, after full discussion thereof and upon a vote being taken thereon, the following
voted in favor thereof:
Ryan
McDonald
Schubert
von Oven
Kimber
and the following voted against the same:
None
Whereupon the resolution was declared duly passed and adopted.
[Bonds must be approved by at least a three-fifths vote of the membership.]
[Issuance of Bonds is subject to a 30-day reverse referendum after the public hearing.]
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STATE OF MINNESOTA
COUNTIES OF CARVER AND HENNEPIN
CITY OF CHANHASSEN
I, the undersigned, being duly qualified and acting City Manager of the City of Chanhassen,
Minnesota, do hereby certify that I have carefully compared the attached and foregoing extract of
minutes with the original minutes of a meeting of the City Council, duly called and held on the date
therein indicated, which are on file and of record in my office, and the same is a full, true and
complete transcript therefrom insofar as the same relates to a resolution giving preliminary
approval to the issuance of the City's general obligation capital improvement plan bonds and
adopting the City's capital improvement plan therefor.
WITNESS my hand on May 20, 2024.
_______________________________________
City Manager
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