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Councilmember Johns introduced the following resolution and moved for its adoption: <br />RESOLUTION #15-03-062 <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE <br />CITY OF RAMSEY MINNESOTA <br />HELD: March 10, 2015 <br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council of <br />the City of Ramsey, Anoka County, Minnesota, was duly called and held at the City Hall in <br />Ramsey, Minnesota on March 10, 2015, at 7:00 p.m. for the purpose, in part, of giving preliminary <br />approval to the issuance of general obligation capital improvement plan bonds and adopting the <br />capital improvement plan. <br />RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF <br />GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT <br />NOT TO EXCEED $4,200,000 AND ADOPTING THE CITY OF RAMSEY, MINNESOTA, <br />CAPITAL IMPROVEMENT PLAN (For GO CIP Bonding Projects only) FOR THE YEARS <br />2015 through 2019 <br />A. WHEREAS, the City Council of the City of Ramsey, Minnesota (the "City") <br />proposes to issue its general obligation capital improvement plan bonds (the "Bonds") and adopt <br />the City of Ramsey, Minnesota, Capital Improvement Plan for the Years 2015 through 2019 (the <br />"Plan"); and <br />B. WHEREAS, the City has caused notice of the public hearing on the intention to <br />issue the Bonds and on the proposed adoption of the Plan to be published pursuant to and in <br />accordance with Minnesota Statutes, Section 475.521; and <br />C. WHEREAS, a public hearing on the intention to issue the Bonds and on the <br />proposed Plan has been held on this date, following published notice of the public hearing as <br />required by law; and <br />D. WHEREAS, in approving the Plan, the City Council considered for each project and <br />for the overall Plan: <br />.1. The condition of the City's existing infrastructure, including the projected <br />need for repair and replacement; <br />2. The likely demand for the improvement; <br />3. The estimated cost of the improvement; <br />4. The available public resources; <br />5. The level of overlapping debt in the City; <br />6. The relative benefits and costs of alternative uses of the funds; <br />7. Operating costs of the proposed improvements; and <br />