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Cotmcihnember Elvig introduced the following resolution and moved for its adoption: <br /> RESOLUTION #04-09-263 <br /> <br />RESOLUTION APPROVING A CAPITAL IMPROVEMENT PLAN, AS AMENDED <br />AND THE ISSUANCE OF GENERAL OBLIGATION CAPITAL IMPROVEMENT <br />BONDS <br /> <br />WHEREAS, <br /> <br /> A. Pursuant to Minnesota Statutes, Section 475.521, the City of Ramsey, Minnesota <br />(the "City") is authorized to adopt a capital improvement plan and issue bonds to finance capital <br />improvements described therein; <br /> <br /> B. Pursuant to Minnesota Statutes, Section 475.521, Subdivision 2 the City Council <br />held a public hearing on the date hereof on amendments to the capital improvement plan and the <br />issuance of General Obligation Capital Improvement Bonds; and <br /> <br /> C. In approving the' capital improvement plan, as amended the City Council <br />considered for each project eligible under Minnesota Statutes, Section 475.521 and for the <br />overall plan: <br /> <br />3. <br />4. <br />5. <br />6. <br />7. <br />8. <br /> <br />The condition of the City's existing infrastructure, including the projected <br />need for repair and replacement; <br />The likely demand for the improvement; <br />The estimated cost of the improvement; <br />The available public resources; <br />The level of overlapping debt in the City; <br />The relative benefits and costs of alternative uses of the funds; <br />Operating costs of the proposed improvements; and <br />Alternatives for providing services more efficiently through shared <br />facilities with other local governmental units; and <br /> <br /> D. The City Council has determined that the issuance of General Obligation Capital <br />hnprovement Bonds in the aggregate principal amount of $1,600,000 is the best way to finance <br />the acquisition of fire station #1 and the refunding of the outstanding Economic Development <br />Authority of the City of Ramsey which financed the construction of fire station #1 and Public <br />Facility Lease Revenue Bonds, Series 1999A (City of Ramsey, Minnesota Lease Obligation). <br /> <br />NOW, TIIEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOICA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> Thc City Council authorizes the adoption of the 2004-2008 Capital Improvement Plan, as <br />amended and attthorizes the issuance of General Obligation Capital Improvement Bonds in an <br />aggregate principal amount not to exceed $1,600,000 for the purpose set forth in the preceding <br />paragraph. <br /> <br />1685512v[ <br /> <br /> <br />