2. Auth. Issuance of CIP BondsCITY OF
CHANHASSEN
770(-) Market Boulo~ard
PO Box 147
Chanhassen MN 55317
Administration
Phone: 952 227 1100
Fax 952 2271110
Building Inspeclions
?~'o'~e: 9522271180
Fax 95?227 !190
Engineering
P"one 952227 1160
Fax: 952 227 1170
Finance
PI;o'le 9522271140
Fax 952227 11!0
Park & Recreation
Fax 9522271110
Recreatioq Center
2310 Coulter Boulevard
Pr~ne 952227 !400
Fax: 952 227 1404
Planning &
Natural Resources
Fax 952 2271110
Public Works
1591 Park Road
Phone 952 2271300
Fax 952227 13!0
Senior Center
Fax 952 227 1110
Web Site
www ci chanhassen mn us
MEMORANDUM
TO:
FROM:
DATE:
Mayor
City Council ?,f~,JfS "i
Bruce M. DeJong, Finance Directo. r ../fl'~"~/"~ ,(~fi~
June 9, 2004 ~
SUBJECT: Public Hearing- 2004 City Hall Capital Improvement Bonds
State statute now allows cities to issue bonds for certain public improvements like
city hall construction projects without holding a referendum. In lieu of a positive
vote for a referendum, the process now requires a public hearing and a 30 day
period for a petition requiring a referendum. Chanhassen is taking advantage of
this process to fund our remodeling of the City Hall lower level. The Thursday
evening meeting is a chance for the public to offer input into this process.
Background
The City Council approved the use of this bonding source in the 2004-2008 CIP in
an amount of $230,000. The initial contracts for the architect and contractor to
complete the project were under that amount by less than $10,000. With the
change orders now processed and the item on the June 14 agenda, the project is
now approximately $263,000. The City Manager is recommending that we
include a contingency of $31,000 above that amount for any additional items that
may occur during the construction process. The maximum amount that the City
will bond for this construction project is $294,000. We will monitor this amount
during the next couple of weeks to exactly size the bond issue and will that final
figure back to the City Council.
Recommendation
City staff recommends that the City Council hold the public hearing and authorize
the issuance of capital improvement bonds not to exceed $294,000 for remodeling
the City Hall lower level.
Attachment: Public Hearing Notice
The City of Chanhassen o A growing community with clear! lakes quality schools a chaln',iNg d,z},¢.,hh?'¢¢~/i-ir?~ :i( b ~slng~ss(:s ~, '~(Ji[u.i trails aqtJ ~){ a'Jt fLJ parks A :, at r l,arc, [o i,J: cv,irk amd play'
NOTICE OF PUBLIC HEARING
CITY OF CHANHASSEN 2004-2008
CAPITAL IMPROVEMENT PLAN
AND NOTICE OF INTENTION TO ISSUE
CAPITAL IMPROVEMENT BONDS
Notice is hereby given that a public hearing has been scheduled for Thursday,
June 10, 2004 at 7:00 p.m. in the City Hall, Chanhassen, Minnesota. The purpose of the
public hearing is the review, discussion and approval of the proposed 2004-2008 Capital
Improvement Plan for the City of Chanhassen (the "City") and consideration of the
issuance of Capital Improvement Bonds in the amount of $230,000 as part of the City's
Capital Improvement Plan. The plan identifies estimated capital expenditures and
funding sources for a five-year period. If approved by the City, the plan will enable the
issuance of general obligation bonds by the City. A referendum on the question of
issuing the bonds must be held if a petition requesting a vote on the issuance is signed by
votes equal to five percent of the votes cast in the City in the last general election and is
filed with the City Manager within 30 days after the public hearing. A copy of the plan is
available for inspection in the City Manager's Office, City Hall, 7700 Market Boulevard,
Chanhassen, Minnesota 55317. Question or comments may be directed to the City
Manager or Finance Director' Office at 952-227-1100.
Todd Gerhardt, City Manager