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APPENDIX C <br />PROPOSED CIP BOND ISSUE <br />5-Year City Capital Improvement Plan Bond Issuance <br />City of Albertville Minnesota <br />The City Council must take the following actions before bonds can be issued: <br />• City Council directs preparation of a 5-year Capital Improvement Plan <br />• City Council conducts a Public Hearing on issuance of bonds and Capital Improvement Plan <br />• City Council approves bonds and Capital Improvement Plan by at least a three -fifths vote of the <br />Council membership <br />The table below lists the steps in issuing process: <br />02-14-12: City Council adopts Resolution Calling for Public Hearing on Issuance of Bonds <br />and on Capital Improvement Plan. <br />02-23-12: Close date to get Notice of Public Hearing on Issuance of Bonds and on Capital <br />Improvement Plan to official newspaper for publication. <br />02-28-12 Publish Notice of Public Hearing on Issuance of Bonds and on Capital <br />Improvement Plan (publication no more than 28 days and no less than 14 days <br />prior to hearing date). <br />03-13-12: <br />City Council holds Public Hearing on Bonds and on Capital Improvement Plan <br />and adopts resolution giving preliminary approval for their issuance and <br />approving Capital Improvement Plan by at least a three -fifths vote of the Council <br />membership. <br />03-20-12: Final Pricing / Bond Purchase Contract executed <br />03-27-12: City Council adopts resolution approving sale of bonds. <br />04-13-12: Reverse referendum period ends (within 30 days of the public hearing). <br />04-26-12: Closing/receipt of funds. <br />