2009-97CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: December 14, 2009 RESOLUTION NO: 2009-97
MOTION BY: Tiornham SECONDED BY: Ernst
A RESOLUTION ADOPTING A STREET RECONSTRUCTION PLAN AND
APPROVING THE ISSUANCE OF GENERAL OBLIGATION STREET
RECONSTRUCTION BONDS
WHEREAS, the City of Chanhassen, Minnesota (the "City"), has determined that it is in
the best interest of the City to authorize the issuance and sale of general obligation street
reconstruction bonds pursuant to Minnesota Statutes, Section 475.58, subdivision 3b, as amended
(the "Act"), to finance the cost of street reconstruction projects, as described in the proposed street
reconstruction plan described below, a copy of which is on file in the City's Engineering
Department; and
WHEREAS, pursuant to the Act, the City is authorized to issue and sell general obligation
street reconstruction bonds for street reconstruction under the circumstances and within the
limitations set forth in the Act. The Act provides that a street reconstruction plan may be financed
with general obligation street reconstruction bonds, following adoption of a street reconstruction
plan, after a public hearing on the street reconstruction plan and on the issuance of general
obligation street reconstruction bonds and other proceedings conducted in accordance with the
requirements of the Act; and
WHEREAS, pursuant to the Act, the City has prepared a five year street reconstruction
plan, which describes the streets to be reconstructed, the estimated costs and any planned
reconstruction of other streets in the City, including the issuance of general obligation street
reconstruction bonds under the Act (the "Plan"), to determine the funding strategy for street
reconstruction projects; and
WHEREAS, on 14 December, 2009 the City Council held a public hearing on the adoption
of the Plan and the issuance of not to exceed approximately $3,000,000 in general obligation street
reconstruction bonds (the `Bonds") under the Plan for street reconstruction improvements to those
streets described in the Plan (the "Street Reconstruction Projects") after publication of the notice of
public hearing not less than 10 days nor more than 28 days prior to the date thereof in the City's
official newspaper; and
WHEREAS, all parties who appeared at the public hearing were given an opportunity to
express their views with respect to the proposal to adopt the Plan and to undertake and finance the
Street Reconstruction Projects by the issuance of Bonds and any written comments submitted prior
to the public hearing were considered.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Chanhassen, Minnesota, as follows:
1. City Policies and Goals. The financing of the Street Reconstruction Projects and the
issuance and sale of the bonds would further the policies and goals of the City as set forth in the
Plan, herein adopted by the City Council in connection with the issuance of the Bonds.
2. Adoption of Street Reconstruction Plan. Based on information received at the
public hearing, such written comments (if any) and such other facts and circumstances as the City
Council deems relevant, it is hereby found, determined and declared that:
a. the Street Reconstruction Projects proposed in the Plan will allow the City to
upgrade its transportation infrastructure; and
b. the Plan is hereby approved and adopted in the form presently on file with the City.
3. Authorization and Approval of Bonds. The City is hereby authorized to issue the
Bonds, the proceeds of which will be used, together with any additional funds of the City which
might be required, to finance certain costs of the Street Reconstruction Projects and to pay costs of
issuance of the Bonds.
4. Execution of Documents. The Mayor and City Administrator are authorized and
directed to execute such other documents and instruments as may be required to give effect to the
transactions herein contemplated.
5. Voter Referendum Contingency. Pursuant to the Act, a petition requesting a vote on
the question of issuing the Bonds, signed by voters equal to five percent of the votes cast in the last
municipal general election, may be filed within thirty days of the public hearing. Upon receipt of
such petition within the prescribed time period, the City may issue the Bonds only after obtaining
the approval of a majority of the voters voting on the question of the issuance of the Bonds. The
authorizations and approvals contained herein are subject to and contingent upon not receiving such
a petition, or, in the event such a petition is filed, the approving vote of a majority of the voters
voting on the question of the issuance of the Bonds.
Passed and adopted by the Chanhassen City Council this 141h day of December, 2009.
ATTE
T dd Gerhardt, City Manager Thomas A. Furlong, Mayor
YES NO ABSENT
Furlong Litsey
Ernst
McDonald
Tj omhom