2004-35b.
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EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF
CHANHASSEN, MINNESOTA
HELD: June 10, 2004
Pursuant to due call and notice thereof, a special meeting of the City Council of the City
of Chanhassen, Minnesota, was duly held at the City Hall in said City on Monday, the 10th day
of June, 2004, at 7:00 o'clock P.M., for the purpose in part of approving a capital improvement
plan and the issuance of Capital Improvement Bonds.
The following members were present: Mayor Tom Furlong, Councilman Craig Peterson,
Councilman Lundquist
and the following were absent: Councilman Bob Ayotte and Councilman Steve Labatt.
Member Lundquist introduced the following resolution and moved its adoption:
cRisOLUTION #2004-~PPROVING A CAPITAL
IMPROVEMENT PLAN AND THE ISSUANCE OF
CAnTAL IMPROVEMENT BONDS
WHEREAS,
A. Pursuant to Minnesota Statutes, Section 475.521, the City of Chanhassen,
Minnesota (the "City") is authorized to adopt a capital improvement plan and issue bonds to
finance capital improvements described therein;
B. Pursuant to Minnesota Statutes, Section 475.521, Subdivision 2 the City Council
held a public hearing on the date hereof; and
C. In approving the Capital Improvement 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
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D. The City Council has determined that the issuance of Capital Improvement Bonds
in the aggregate principal amount of $294,000 is the best way to finance those portions of
Capital Improvement Plan eligible under Minnesota Statutes, Section 475.521.
NOW, THEREFORE, BE IT RESOLVED, by the Chanhassen City Council adopts the
2005-2009 Capital Improvement Plan and authorizes the issuance of Capital Improvement Bonds
in an aggregate principal amount not to exceed $294,000.
The motion for the adoption of the foregoing resolution was duly seconded by member
Peterson and, upon a vote being taken thereon after full discussion thereof, the following voted
in favor thereof: Mayor Furlong, Council members Peterson and Lundquist
and the following voted against the same: None
Whereupon said resolution was declared duly passed and adopted.
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STATE OF MINNESOTA )
COUNTIES OF CARVER AND HENNEPIN) SS
CITY OF CHANHASSEN )
I, the undersigned, being the duly qualified and acting Manager of the City of
Chanhassen, Minnesota (the "City"), by reason of my office as Manager, 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 of the City, duly called and held on the date therein
indicated, insofar as such minutes relate to approving a Capital Improvement Plan and the
proposed issuance of Capital Improvement Bonds to finance capital improvements therewith.
WITNESS my hand this 10th day of June, 2004. d r<.-./..J;f-
J4~
City Manager
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