Res 2016-55 Calling for PH on GO CIP Bonds
RESOLUTION NO. 2016 - 55
RESOLUTION CALLING PUBLIC HEARING ON
THE INTENTION TO ISSUE GENERAL OBLIGATION CAPITAL
IMPROVEMENT PLAN BONDS AND THE PROPOSAL TO
ADOPT A CAPITAL IMPROVEMENT PLAN FOR 2017 THROUGH 2021
UNDER MINNESOTA STATUTES, SECTION 475.521
WHEREAS, pursuant to Minnesota Statutes, Section 475.521 the City of Fridley, Minnesota (the
“City”) may issue bonds to finance capital expenditures under its capital improvement plan (the
“Plan”) without an election provided that, among other things, prior to issuing the bonds the City
adopts the Plan after a public hearing thereon and publishes a notice of its intention to issue the
bonds and the date and time of a hearing to obtain public comment on the matter; and
WHEREAS, the City Council will hold a public hearing on its intention to issue general
obligation capital improvement plan bonds (the “Bonds”) and to adopt the Plan therefor pursuant
thereto on November 14, 2016.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Fridley, Minnesota,
that the City Council hereby calls for a public hearing on its intent to issue the Bonds and to
adopt the Plan therefor, such hearing to be held on the date and time set forth in Exhibit A
attached hereto. The City Council is hereby directed to cause the notice to be published at least
14 but not more than 28 days before the hearing in the official newspaper of the City or a
newspaper of general circulation in the City.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS
TH
26 DAY OF SEPTEMBER, 2016.
_____________________________________
SCOTT J. LUND - MAYOR
ATTEST:
__________________________________
DEBRA A. SKOGEN – CITY CLERK
EXHIBIT A
NOTICE OF PUBLIC HEARING
CITY OF FRIDLEY, MINNESOTA
2017-2021 CAPITAL IMPROVEMENT PLAN
AND NOTICE OF INTENTION TO ISSUE
CAPITAL IMPROVEMENT BONDS
NOTICE IS HEREBY GIVEN that the City Council of the City of Fridley, Minnesota
(the “City”) will meet on Monday, November 14, 2016, at or after 7:00 p.m., at the City Hall in
Fridley, Minnesota, in part to hold a public hearing concerning (1) the issuance of general
obligation bonds (the “Bonds”) in an amount not to exceed $50,505,000 to finance various
capital improvements within the City; and (2) the proposal to adopt a capital improvement plan
for 2017 through 2021 pursuant to Minnesota Statutes, Section 475.521.
All persons interested may appear and be heard at the time and place set forth above.
If a petition requesting a vote on the issuance of the Bonds, signed by voters equal to five
percent of the votes cast in the City in the last general election, is filed with the City Clerk within
30 days after the public hearing (i.e., by December 13, 2016), the City may issue the Bonds only
after obtaining approval of a majority of voters voting on the question at an election.
A copy of the plan is available for inspection in the City Clerk’s Office, City Hall, 6431
University Avenue N.E., Fridley, Minnesota 55432. Question or comments may be directed to
the City Manager’s Office at 763-572-3506.
All interested persons may appear and be heard at the public hearing either orally or in
writing, or may file written comments with the City Manager before the hearing.
Dated: October 27, 2016
BY ORDER OF THE CITY COUNCIL OF
OF THE CITY OF FRIDLEY, MINNESOTA
_______________________________________
City Clerk