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HomeMy WebLinkAbout2018-05-14 City Council Meeting Minutes MINUTES MAPLEWOOD CITY COUNCIL 7:00 P.M. Monday, May 14, 2018 Maplewood City Hall – Council Chambers Meeting No. 09-18 A. CALL TO ORDER A meeting of the City Council was held at the Maplewood City Hall – Council Chambers and was called to order at 7:13 p.m. by Mayor Slawik. Mayor Slawik gave an introduction on recreation fire protocol/rules per the City’s ordinance. Director of Public Safety Nadeau gave additional information on recreational fires. B. PLEDGE OF ALLEGIANCE C. ROLL CALL Nora Slawik, Mayor Present Marylee Abrams, Councilmember Present Kathleen Juenemann, Councilmember Present Bryan Smith, Councilmember Present Tou Xiong, Councilmember Present D. APPROVAL OF AGENDA The following items were added to the agenda under Appointments and Presentations, Council Presentations: Community Engagement Weekend with Professor David Schultz Update on the Groundbreaking for the New Veteran’s House Assemblies Project through Hamline Meeting with Communications Director Joe Sheeran Update on Weaver Elementary Leadership Day Gold Line Meeting at Carver Regional Mayor’s Meeting Police Advisory Commission Update Councilmember Xiong moved to approve the agenda as amended. Seconded by Councilmember Juenemann Ayes – All The motion passed. E. APPROVAL OF MINUTES 1. Approval of the April 23, 2018 City Council Workshop Minutes Councilmember Abrams moved to approve the April 23, 2018 City Council Workshop Minutes as submitted. May 14, 2018 1 City Council Meeting Minutes Seconded by Councilmember Juenemann Ayes – All The motion passed. 2. Approval of the April 23, 2018 City Council Meeting Minutes Councilmember Juenemann moved to approve the April 23, 2018 City Council Meeting Minutes as submitted. Seconded by Councilmember Smith Ayes – All The motion passed. F. APPOINTMENTS AND PRESENTATIONS 1. Administrative Presentations a. Council Calendar Update Assistant City Manager/HR Director Funk gave the calendar update. Looking into the possibility of increasing the legal age to 21 to purchase cigarettes/tobacco was added to the lists of tasked requested by the council. 2. Council Presentations Community Engagement Weekend with Professor David Schultz Councilmember Juenemann reported on the Community Engagements Assembly Program she attended. Update on the Groundbreaking for the New Veteran’s House Councilmember Abrams reported on the groundbreaking ceremony for the new veteran’s home she attended on April 26. Assemblies Project through Hamline Councilmember Abrams reported on the Assemblies Project held at Hamline University she attended on April 28. Meeting with Communications Director Joe Sheeran Councilmember Abrams reported on the meeting she had with the City’s communication director Joe Sheeran this past week. Update on Weaver Elementary Leadership Day Councilmember Xiong gave an update announcement about the Leadership Day at Weaver Elementary. Gold Line Meeting at Carver May 14, 2018 2 City Council Meeting Minutes Mayor Slawik reported on the Gold Line Committee Meeting at Carver Elementary School. Regional Mayor’s Meeting Mayor Slawik reported on the Regional Mayor’s meeting she attended earlier in the day. Police Advisory Commission Update Councilmember Smith gave an update on the Police Advisory Commission. 3. Approval of Proclamation Recognizing National Police Week 2018 Director of Public Safety Nadeau gave the staff report. Councilmember Juenemann read the proclamation. Councilmember Juenemann moved to approve the Proclamation Recognizing National Police Week 2018. Seconded by Councilmember Abrams Ayes – All The motion passed. 4. Approval of Resolution in Support of Maplewood Gardens Rehabilitation Assistant City Manager/HR Director Funk introduced the staff report. Economic Development Coordinator Martin gave information about the report. Twin Cities Housing Development Coordinator Ken Isaacson gave the report on the project. Councilmember Juenemann moved to approve the Resolution in Support of Twin Cities Housing Development Corporation’s Proposed Maplewood Gardens Rehabilitation. Resolution 18-05-1558 Resolution in Support of Twin Cities Housing Development Corporation’s Proposed Maplewood Gardens Rehabilitation WHEREAS, Maplewood Gardens, 450 McKnight Road South, was developed in 1979 and provides an important and needed affordable housing choice for the area. WHEREAS, the City of Maplewood is committed to providing safe and well-kept affordable housing options for both residents of the building and neighboring properties; and WHEREAS, Twin Cities Housing Development Corporation is in the process of applying to funders, including, but not limited to, Ramsey County Community and Economic Development and Minnesota Housing Finance Agency for funds to purchase and rehabilitate the development to assure its quality and stability for the future; and May 14, 2018 3 City Council Meeting Minutes WHEREAS, several funders require a resolution of support from the local municipality, WHEREAS, the City of Maplewood supports Twin Cities Housing Development Corporation’s request to Minnesota Housing to underwrite the property with a "State Designated Basis Boost" providing the project with additional financial resources from the State of Minnesota. NOW, THEREFORE, IT IS HEREBY RESOLVED for and on behalf of the City of Maplewood, Minnesota and its citizens, that the City of Maplewood supports Twin Cities Housing Development Corporation’s efforts to fund the purchase and rehabilitation of Maplewood Gardens at 450 McKnight Road South in Maplewood, Minnesota. Seconded by Councilmember Abrams Ayes – All The motion passed. 5. Approval of Tennis Sanitation Recycling Collection Annual Review Environmental/Code Specialist Swanson gave the staff report. Willie Tennis with Tennis Sanitation addressed the council to give additional information. Councilmember Juenemann moved to approve the Tennis Sanitation’s Recycling Collection Annual Review to include the 2017 Recycling Year End Report and the 2018 Recycling Work Plan. Seconded by Councilmember Xiong Ayes – All The motion passed. 6. Approval of Republic Services Trash and Yard Waste Collection Annual Review Environmental/Code Specialist Swanson gave the staff report. Romack Franklin with Republic Services addressed the council to give additional information. Councilmember Juenemann moved to approve Republic Services Trash and Yard Waste Collection Annual Review to include the 2017 Trash and Yard Waste Collection Annual Report and the 2018 Trash and Yard Waste Collection Work Plan. Seconded by Councilmember Xiong Ayes – All The motion passed. G. CONSENT AGENDA Councilmember Abrams moved to approve agenda items G1-G7. Seconded by Councilmember Juenemann Ayes – All The motion passed. May 14, 2018 4 City Council Meeting Minutes 1. Approval of Claims Councilmember Abrams moved to approve the approval of claims. ACCOUNTS PAYABLE: $ 610,052.61 Checks #101496 thru #101529 dated 04/24/18 $ 321,528.25 Disbursements via debits to checking account dated 04/16/18 thru 04/20/18 $ 266,362.25 Checks #101530 thru # 101552 dated 05/01/18 $ 629,611.06 Disbursements via debits to checking account dated 04/23/18 thru 04/27/18 $ 166,249.72 Checks # 101553 thru # 101594 dated 05/08/18 $ 292,500.77 Disbursements via debits to checking account dated 04/30/18 thru 05/04/18 $ 2,286,304.66 Total Accounts Payable PAYROLL $ 679,732.26 Payroll Checks and Direct Deposits dated 04/20/18 $ 2,806.99 Payroll Deduction check # 99103217 thru # 99103221 dated 04/20/18 $ 564,860.23 Payroll Checks and Direct Deposits dated 05/04/18 $ 2,101.26 Payroll Deduction check # 99103235 thru # 99103238 dated 05/04/18 $ 1,249,500.74 Total Payroll $ 3,535,805.40 GRAND TOTAL Seconded by Councilmember Juenemann Ayes – All The motion passed. 2. Approval of a Conditional Use Permit Review, Boaters Outlet, 2000 Rice Street Councilmember Abrams moved to approve the CUP review for Boaters Outlet and the project be reviewed again in one year. May 14, 2018 5 City Council Meeting Minutes Seconded by Councilmember Juenemann Ayes – All The motion passed. 3. Approval of 2017 Final Budget Adjustments Councilmember Abrams moved to approve budget adjustments for 2017. Seconded by Councilmember Juenemann Ayes – All The motion passed. 4. Approval of a Temporary Lawful Gambling - Local Permit for the St. Paul East Parks Lions Club at the Ramsey County Fair, 2020 White Bear Avenue Councilmember Abrams moved to approve the temporary Lawful Gambling – Local thth permit for the St. Paul East Parks Lion Club on July 11 through July 15 at the Ramsey County Fair, 2020 White Bear Avenue, Maplewood. Seconded by Councilmember Juenemann Ayes – All The motion passed. 5. Approval of a Temporary Lawful Gambling - Local Permit for LeadingAge Minnesota Foundation at Keller Golf Course, 2166 Maplewood Drive Councilmember Abrams moved to approve the temporary Lawful Gambling – Local Permit for LeadingAge Minnesota Foundation on August 8, 2018 at Keller Golf Course, 2166 Maplewood Drive. Seconded by Councilmember Juenemann Ayes – All The motion passed. 6. Approval of Contribution for Sponsorship of District 622 Educational Foundation’s STA2RS Banquet Councilmember Abrams moved to approve the $530 contribution to the District 622 Education Foundation from the council budget. Seconded by Councilmember Juenemann Ayes – All The motion passed. 7. Approval of Amended Resolution for 2018 Pay Rates for Temporary/Seasonal, and Casual Part-Time Employees Councilmember Abrams moved to approve the Resolution Approving Amended 2018 Pay Rates for Temporary/Seasonal and Casual P/T Employees. May 14, 2018 6 City Council Meeting Minutes Resolution 18-05-1559 WHEREAS, according to the Minnesota Public Employees Labor Relations act, part-time employees who do not work more than 14 hour per week and temporary/seasonal employees who work in positions that do not exceed 67 days in a calendar year, or 100 days for full-time students, are not public employees and are therefore not eligible for membership in a public employee union. NOW, THEREFORE, BE IT RESOLVED, that the following pay ranges and job classifications are hereby established for temporary/seasonal, casual part-time employees effective May 1, 2018 upon Council approval. Accountant $10.00-30.00 per hour Accounting Technician $9.65-22.00 per hour Administrative Assistant $9.65-23.00 per hour Background Investigator $25.00-40.00 per hour Building Inspector $14.00-35.00 per hour Building Attendant $9.65-15.00 per hour CSO $14.50-19.50 per hour Election Judge $9.65-12.00 per hour Election Judge - Assistant Chair $9.65-15.00 per hour Election Precinct Chair $9.65-16.00 per hour Engineering Aide $9.65-16.00 per hour Engineering Technician $10.00-16.00 per hour Fire Maintenance Engineer $14.00-$18.00 per hour Gardener $12.00-22.00 per hour Intern $9.65-20.00 per hour IT Technician $15.00-20.00 per hour Laborer $9.65-15.00 per hour Office Specialist $9.65-18.00 per hour Receptionist $9.65-16.00 per hour Recreation Instructor/Leader $9.65-32.00 per hour Recreation Official $9.65-30.00 per hour Recreation Worker $9.65-18.00 per hour Vehicle Technician $9.65-15.00 per hour Video Coordinator* $11.00-19.00 per hour Video Technician* $10.00-18.00 per hour *Video positions shall be paid a guaranteed minimum flat fee of $50 for 4 hours or less. BE IT FURTHER RESOLVED, this resolution will supersede previous resolutions setting pay rates for these pay classifications; and, BE IT FURTHER RESOLVED, that the City Manager shall have the authority to set the pay rate within the above ranges. Seconded by Councilmember Juenemann Ayes – All The motion passed. May 14, 2018 7 City Council Meeting Minutes H. PUBLIC HEARINGS 1. Londin-Highpoint Area Street Improvements, City Project 17-19 a. Public Hearing 7:00 pm b. Consider Approval of Resolution Adopting Assessment Roll c. Consider Approval of Resolution Receiving Bids and Awarding Construction Contract Assistant City Manager/HR Director Funk introduced the item. Public Works Director/City Engineer gave the staff report. Mayor Slawik opened the public hearing. The following people spoke: 1. Ananth Shankar, 2460 King Avenue E. Mayor Slawik closed the public hearing. Councilmember Juenemann moved to approve the resolution Adopting Assessment Roll for the Londin-Highpoint Area Street Improvements, City Project 17-19. Resolution 18-05-1560 Adopting Assessment Roll WHEREAS, pursuant to resolution passed by the City Council on April 23, 2018, calling for a Public Hearing, the assessment roll for the Londin-Highpoint Area Street Improvements, City Project 17-19 was presented in a Public Hearing, pursuant to Minnesota Statutes, Chapter 429, and WHEREAS, the following property owners have filed objections to their assessments according to the requirements of Minnesota Statutes, Chapter 429, summarized as follows: a. Parcel 122822230320 – William J. Mathison, 2352 Dorland Lane East. It is currently proposed that the property be assessed for 0.5 units at the Townhome assessment rate for a total amount of $673.17. Mr. Mathison is requesting a senior citizen deferral. b. Parcel 122822210087 – Jacqueline J Adams, 2445 Londin Lane East, Unit 411. It is currently proposed to be assessed 1 unit at the Condominiums assessment rate for a total amount of $473.30. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MAPLEWOOD, MINNESOTA: 1. Such proposed assessment, a copy of which is attached hereto and made a part hereof, is hereby accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein included is hereby found to be benefited by the proposed improvement in the amount of the assessment levied against it. 2. That the City Engineer and City Clerk are hereby instructed to review the May 14, 2018 8 City Council Meeting Minutes objections received and report to the City Council at the regular meeting on May 29, 2018, as to their recommendations for adjustments. 3. The assessment roll for the Londin-Highpoint Area Street Improvements as amended, without those property owners’ assessments that have filed objections, a copy of which is attached hereto and made a part hereof, is hereby adopted. Said assessment roll shall constitute the special assessment against the lands named therein, and each tract of land therein included is hereby found to be benefited by the proposed improvement in the amount of the assessment levied against it. 4. Such assessments shall be payable in equal annual installments extending over a period of and 15 years for all properties, the first installments to be payable on or before the first Monday in January 2019 and shall bear interest at the rate of 5.0 percent per annum from the date of the adoption of this assessment resolution. To the first installment shall be added interest on the entire assessment from the date of this resolution until December 31, 2018. To each subsequent installment when due shall be added interest for one year on all unpaid installments. 5. The owner of any property so assessed may, at any time prior to certification of the assessment to the county auditor, but no later than November 15, 2018, pay the whole of the assessment on such property, with interest accrued to the date of the payment, to the city clerk, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of this resolution; and they may, at any time after November 15, 2018, pay to the county auditor the entire amount of the assessment remaining unpaid, with interest accrued to December 31 of the year in which such payment is made. Such payment must be made before November 15 or interest will be charged through December 31 of the next succeeding year. 6. The City Engineer and City Clerk shall forthwith after November 15, 2018, but no later than November 16, 2018, transmit a certified duplicate of this assessment to the county auditor to be extended on the property tax lists of the county. Such assessments shall be collected and paid over the same manner as other municipal taxes. Seconded by Councilmember Abrams Ayes – All The motion passed. Councilmember Juenemann moved to approve the resolution for Receiving Bids and Awarding Construction Contract for the Londin-Highpoint Area Street Improvements, City Project 17-19, to Park Construction Company. Resolution 18-05-1561 Receiving Bids and Awarding Construction Contract NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF MAPLEWOOD, MINNESOTA that that the bid of Park Construction Company in the amount of $773,900.59 is the lowest responsible bid for the construction of Londin- May 14, 2018 9 City Council Meeting Minutes Highpoint Area Street Improvements, and the Mayor and the City Manager are hereby authorized and directed to enter into a contract with said bidder for and on behalf of the City. The Finance Director is hereby authorized to make the financial transfers necessary to implement the financing plan for the project as previously approved by the City Council. Seconded by Councilmember Xiong Ayes – All The motion passed. 2. Public Hearing to Receive Input on Tax Abatement Bonds, 2018A, for the Wakefield Park Improvement Project Assistant City Manager/HR Director Funk introduced the item. Finance Director Paulseth gave the presentation introduction. Terri Heaton, Senior Vice President with Springsted addressed the council to give the presentation. Mayor Slawik opened the public hearing. The following person spoke: 1. Kevin Berglund Mayor Slawik closed the public hearing. I. UNFINISHED BUSINESS 1. Consider Approval of Resolution Approving Property Tax Abatement Related to Infrastructure Improvements in the City of Maplewood Finance Director Paulseth gave the staff report. Councilmember Smith moved to approve the Resolution Approving Property Tax Abatement Related to Infrastructure Improvements in the City of Maplewood. Resolution 18-05-1562 Resolution Approving Property Tax Abatement Related to Infrastructure Improvements in the City of Maplewood BE IT RESOLVED By the City Council (the “Council”) of the City of Maplewood, Ramsey County, Minnesota (the “City”), as follows: Section 1. Recitals. 1.01. The City has contemplated granting a property tax abatement in order to help finance the construction of a park facility building at Wakefield Park in the City (the “Project”), which will benefit certain property in the City, all pursuant to Minnesota Statutes, Sections 469.1812 through 469.1815, as amended (the “Abatement Act”). 1.02. Pursuant to Section 469.1813, subdivision 1 of the Abatement Act, the City may grant an abatement of all or a portion of the taxes imposed by the City May 14, 2018 10 City Council Meeting Minutes on a parcel of property to pay for all or part of the cost of acquisition or improvement of public infrastructure, whether or not located on or adjacent to the parcel for which the tax is abated. 1.03. The City has identified certain parcels located in the City, identified in EXHIBIT A hereto (the “Abatement Property”), which will be benefitted by the Project and from which the City proposes to abate a portion of the City’s share of taxes to help finance the Project (the “Abatement”), subject to all the terms and conditions of this resolution. The proposed term of the Abatements will be for up to 15 years in an estimated amount not to exceed $3,000,000. 1.04. In accordance with Section 469.1813, subdivision 5 of the Abatement Act, the Council adopted a resolution on April 23, 2018, calling for a public hearing on May 14, 2018 to consider approval of the Abatements and authorizing the City Clerk to publish the notice of public hearing in substantially the form attached as Exhibit A to such resolution. A notice of public hearing was published in the Maplewood Review (a newspaper of general circulation in the City that is published at least once per week) on May 2, 2018 in accordance with the Abatement Act, providing that the total amount of the Abatements proposed to be abated was estimated not to exceed $2,045,000. Due to a calculation error, the City and its municipal advisor subsequently determined that the amount of Abatements proposed to be abated by the City should be increased to $3,300,000. To correct the amount of Abatements set forth in the original notice of public hearing, a subsequent notice of public hearing was published in the Maplewood Review on May 9, 2018, indicating the increase in the total amount of Abatements proposed to be abated. Another notice of public hearing setting forth the total amount of Abatements to be abated, in the estimated amount not to exceed $3,300,000, was published in the Star Tribune (a newspaper of general circulation in the City that is published daily) on May 3, 2018, which date was more than 10 days but less than 30 days before the date of the hearing, as required by the Abatement Act. 1.05. The City intends to issue its general obligation bonds, a portion of which will be designated as tax abatement bonds, in the approximate aggregate principal amount of $2,610,000 (the “Abatement Bonds”) and will be issued to pay the costs of the Project pursuant to the Abatement Act and are expected to be paid primarily through the collection of Abatement revenues. 1.06. On the date hereof, the Council conducted a duly noticed public hearing on the Abatements at which the views of all interested persons were heard, and said hearing was preceded by published notice thereof in accordance with the Abatement Act. Section 2. Findings. It is hereby found and determined that: (i) the benefits to the City from the Abatements will be at least equal to the costs to the City of the Abatements; and (ii) the Abatements are in the public interest because they will provide or help acquire or construct public facilities, help provide access to services for residents of the City, and finance or provide public infrastructure. The Project financed with proceeds of the Abatement Bonds will benefit the Abatement Property because all of the public infrastructure to be constructed and paid for with Abatements will be located near the Abatement Property and the accessibility of the Project will enhance the value of the May 14, 2018 11 City Council Meeting Minutes Abatement Property and promote development of the Abatement Property. Section 3. Actions Ratified; Abatement Approved. 3.01. The Council hereby ratifies all actions of the City’s staff and consultants in arranging for approval of this resolution, including publication of a revised notice of public hearing, in accordance with the Abatement Act. 3.02. Subject to the provisions of the Abatement Act, the Abatement is hereby approved and adopted subject to the following terms and conditions: (a) The term “Abatements,” as defined in Section 1.03, includes the amounts described in this Section: (i) The maximum principal amount of the Abatement Bonds will not exceed the estimated sum of the Abatements for the Abatement Property for the years authorized. (ii) Notwithstanding anything to the contrary herein, the Abatements payable in any year for a parcel will not exceed the product of the City’s total local tax rate and the total net tax capacity for such parcel. (iii) In accordance with Section 469.1813, subdivision 8 of the Abatement Act, in no year shall the Abatements, together with all other abatements approved by the City under the Abatement Act and paid in that year, exceed the greater of ten percent (10%) of the City’s net tax capacity for that year or $200,000 (the “Abatement Volume Cap”). The City may grant any other abatements permitted under the Abatement Act after the date of this resolution, provided that to the extent the total abatements in any year exceed the Abatement Volume Cap, the allocation of Abatement Volume Cap to such other abatements is subordinate to the Abatements hereunder. (b) The City will pay the Abatements in semiannual installments each February 1 and August 1, commencing August 1, 2019, and continuing through February 1, 2034. The City will pay the Abatements solely to finance the cost of the Project, through application of Abatements toward debt service payments on the Abatement Bonds (including any bonds issued to refund the initial Abatement Bonds). (c) This resolution may be modified only with the prior written approval of the City, and any modification is subject to Section 469.1813, subdivision 7 of the Abatement Act. (d) In accordance with Section 469.1815 of the Abatement Act, the City will add to its levy in each year during the term of the Abatement the total estimated amount of current year Abatements granted under this resolution. 3.03. The Mayor and City Manager are authorized and directed to execute and deliver any agreements, certificates or other documents that the City determines are necessary to implement this resolution. Seconded by Councilmember Abrams Ayes – All May 14, 2018 12 City Council Meeting Minutes The motion passed. 2. Consider Approval of Resolution Awarding the Sale of General Obligation Bonds, Series 2018A Assistant City Manager/HR Director Funk introduced the item. Finance Director Paulseth gave the presentation. Terri Heaton, Senior Vice President with Springsted gave the presentation. Councilmember Smith moved to approve the Resolution Awarding the Sale of General Obligation Bonds, Series 2018A, in the Original Aggregate Principal Amount of $7,050,000; Fixing Their Form and Specifications; Directing Their Execution and Delivery; and providing for their payment. Resolution 18-05-1563 A Resolution Awarding the Sale of General Obligation Bonds, Series 2018A, in the Original Aggregate Principal Amount of $6,940,000; Fixing Their Form and Specifications; Directing Their Execution and Delivery; and Providing for Their Payment BE IT RESOLVED By the City Council of the City of Maplewood, Minnesota (the “City”), as follows: Section 1. Background; Sale of Bonds. 1.01. Abatement Bonds. (a) The City has determined to undertake public improvements primarily consisting of the construction of a park facility building at Wakefield Park in the City (the “Abatement Project”). (b) Under Minnesota Statutes, Chapter 475, as amended, and Sections 469.1812 through 469.1815, as amended (collectively, the “Abatement Act”), the City is authorized to grant a property tax abatement on specified parcels in order to accomplish certain public purposes, including the provision or construction of public infrastructure. (c) Pursuant to a resolution adopted by the City Council of the City on May 14, 2018 (the “Abatement Resolution”) following a duly noticed public hearing, the City Council approved a property tax abatement (the “Abatements”) for certain property in the City (the “Abatement Parcels”) over a period of fifteen (15) years, in an estimated amount not to exceed $3,000,000. (d) In the Abatement Resolution, the City found and determined that the Abatement Project benefits the Abatement Parcels, and that the maximum principal amount of bonds to be secured by Abatements does not exceed the estimated sum of Abatements from the Abatement Parcels for the term authorized under the Abatement Resolution. (e) It is necessary and expedient to the sound financial management of the affairs of the City to issue general obligation bonds in the aggregate principal amount of May 14, 2018 13 City Council Meeting Minutes $2,565,000 (the “Abatement Bonds”), pursuant to the Abatement Act, to provide financing for a portion of the Abatement Project. 1.02. Improvement Bonds. (a) Certain assessable public improvements designated as the Farrell- Ferndale Area Improvements, Project 17-18 and the Londin-Highpoint Street Improvements, Project 17-19 (collectively, the “Assessable Improvements”) have been made, duly ordered or contracts let for the construction thereof pursuant to the provisions of Minnesota Statutes, Chapters 429 and 475, as amended (collectively, the “Improvement Act”). (b) It is necessary and expedient to the sound financial management of the affairs of the City to issue general obligation bonds in the aggregate principal amount of $4,375,000 (the “Improvement Bonds”), pursuant to the Improvement Act, to provide financing for the Assessable Improvements. 1.03. Issuance of General Obligation Bonds. The City Council finds it necessary and expedient to the sound financial management of the affairs of the City to issue the City’s General Obligation Bonds, Series 2018A (the “Bonds”), in the original aggregate principal amount of $6,940,000, pursuant to the Abatement Act and the Improvement Act (together, the “Act”), to provide financing for the Abatement Project and the Assessable Improvements. 1.04. Award to the Purchaser and Interest Rates. The proposal of Northland Securities, Inc. (the “Purchaser”) to purchase the Bonds described in the Terms of Proposal is hereby found and determined to be a reasonable offer and is hereby accepted, the proposal being to purchase the Bonds at a price of $7,102,234.60 (par amount of $6,940,000.00, plus an original issue premium of $228,610.60, less an original issue discount of $17,009.70, less underwriter’s discount of $49,366.30), plus accrued interest to date of delivery, if any, for Bonds bearing interest as follows: Year Interest Rate Year Interest Rate 2020 3.000% 2026 4.000% 2021 4.000 2027 3.000 2022 4.000 2028 3.000 2023 4.000 2032* 3.000 2024 4.000 2033 3.000 2025 4.000 2034 3.000 ________________________ * Term Bond True interest cost: 2.9166900% 1.05. Purchase Contract. The Mayor and City Manager are directed to execute a contract with the Purchaser on behalf of the City. 1.06. Terms and Principal Amounts of the Bonds. The City will forthwith issue and sell the Bonds, pursuant to the Act, in the total principal amount of $6,940,000, originally dated as of June 14, 2018, in the denomination of $5,000 each or any integral May 14, 2018 14 City Council Meeting Minutes multiple thereof, numbered No. R-1, upward, bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as follows: Year Amount Year Amount 2020 $355,000 2026 $450,000 2021 370,000 2027 465,000 2022 380,000 2028 485,000 2023 395,000 2032* 2,070,000 2024 415,000 2033 555,000 2025 430,000 2034 570,000 ________________________ * Term Bond (a) $2,565,000 of the Bonds (the Abatement Bonds), maturing on February 1 in the years and the amounts set forth below, will be used to finance the construction of the Abatement Project: Year Amount Year Amount 2020 $130,000 2026 $165,000 2021 135,000 2027 170,000 2022 140,000 2028 180,000 2023 145,000 2032* 770,000 2024 155,000 2033 205,000 2025 160,000 2034 210,000 ________________________ * Term Bond (b) The remainder of the Bonds in the principal amount of $4,375,000 (the Improvement Bonds), maturing on February 1 in the years and the amounts set forth below, will be used to finance the construction of the Assessable Improvements: Year Amount Year Amount 2020 $225,000 2026 $285,000 2021 235,000 2027 295,000 2022 240,000 2028 305,000 2023 250,000 2032* 1,300,000 2024 260,000 2033 350,000 2025 270,000 2034 360,000 ________________________ * Term Bond 1.07. Optional Redemption. The City may elect on February 1, 2026, and on any day thereafter to prepay Bonds due on or after February 1, 2027. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant’s interest in such maturity to be redeemed and each participant will then select by lot the beneficial May 14, 2018 15 City Council Meeting Minutes ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. 1.08. Mandatory Redemption; Term Bond. The Bond maturing on February 1, 2032 shall hereinafter be referred to as the “Term Bond.” The principal amount of the Term Bond subject to mandatory sinking fund redemption on any date may be reduced through earlier optional redemptions, with any partial redemptions of the Term Bond credited against future mandatory sinking fund redemption of such Term Bond in such order as the City shall determine. The Term Bond is subject to mandatory sinking fund redemption and shall be redeemed in part at par plus accrued interest on February 1 of the following years and in the principal amounts as follows: Sinking Fund Installment Date February 1, 2032 Term Bond Principal Amount 2029 $ 495,000 2030 510,000 2031 525,000 2032* 540,000 ____________________ * Maturity Section 2. Registration and Payment. 2.01. Registered Form. The Bonds will be issued only in fully registered form. The interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or draft issued by the Registrar described herein. 2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest payment date preceding the date of authentication to which interest on the Bond has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment, in which case the Bond will be dated as of the date of authentication, or (ii) the date of authentication is prior to the first interest payment date, in which case the Bond will be dated as of the date of original issue. The interest on the Bonds is payable on February 1 and August 1 of each year, commencing February 1, 2019, to the registered owners of record thereof as of the close of business on the first day of the month of such interest payment date, whether or not such day is a business day. 2.03. Registration. The City will appoint a bond registrar, transfer agent, authenticating agent and paying agent (the “Registrar”). The effect of registration and the rights and duties of the City and the Registrar with respect thereto are as follows: (a) Register. The Registrar must keep at its principal corporate trust office a bond register in which the Registrar provides for the registration of ownership of Bonds and the registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. (b) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in form satisfactory to the Registrar, duly executed by the registered owner thereof or by an May 14, 2018 16 City Council Meeting Minutes attorney duly authorized by the registered owner in writing, the Registrar will authenticate and deliver, in the name of the designated transferee or transferees, one or more new Bonds of a like aggregate principal amount and maturity, as requested by the transferor. The Registrar may, however, close the books for registration of any transfer after the fifteenth day of the month preceding each interest payment date and until that interest payment date. (c) Exchange of Bonds. When Bonds are surrendered by the registered owner for exchange the Registrar will authenticate and deliver one or more new Bonds of a like aggregate principal amount and maturity as requested by the registered owner or the owner’s attorney in writing. (d) Cancellation. Bonds surrendered upon transfer or exchange will be promptly cancelled by the Registrar and thereafter disposed of as directed by the City. (e) Improper or Unauthorized Transfer. When a Bond is presented to the Registrar for transfer, the Registrar may refuse to transfer the Bond until the Registrar is satisfied that the endorsement on the Bond or separate instrument of transfer is valid and genuine and that the requested transfer is legally authorized. The Registrar will incur no liability for the refusal, in good faith, to make transfers which it, in its judgment, deems improper or unauthorized. (f) Persons Deemed Owners. The City and the Registrar may treat the person in whose name a Bond is registered in the bond register as the absolute owner of the Bond, whether the Bond is overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on the Bond and for all other purposes, and payments so made to a registered owner or upon the owner’s order will be valid and effectual to satisfy and discharge the liability upon the Bond to the extent of the sum or sums so paid. (g) Taxes, Fees and Charges. The Registrar may impose a charge upon the owner thereof for a transfer or exchange of Bonds sufficient to reimburse the Registrar for any tax, fee or other governmental charge required to be paid with respect to the transfer or exchange. (h) Mutilated, Lost, Stolen or Destroyed Bonds. If a Bond becomes mutilated or is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of the mutilated Bond or in lieu of and in substitution for any Bond destroyed, stolen or lost, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case of a Bond destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that the Bond was destroyed, stolen or lost, and of the ownership thereof, and upon furnishing to the Registrar an appropriate bond or indemnity in form, substance and amount satisfactory to it and as provided by law, in which both the City and the Registrar must be named as obligees. Bonds so surrendered to the Registrar will be cancelled by the Registrar and evidence of such cancellation must be given to the City. If the mutilated, destroyed, stolen or lost Bond has already matured or been called for redemption in accordance with its terms it is not necessary to issue a new Bond prior to payment. (i) Redemption. In the event any of the Bonds are called for redemption, notice thereof identifying the Bonds to be redeemed will be given by the Registrar by May 14, 2018 17 City Council Meeting Minutes mailing a copy of the redemption notice by first class mail (postage prepaid) to the registered owner of each Bond to be redeemed at the address shown on the registration books kept by the Registrar and by publishing the notice if required by law. Failure to give notice by publication or by mail to any registered owner, or any defect therein, will not affect the validity of the proceedings for the redemption of Bonds. Bonds so called for redemption will cease to bear interest after the specified redemption date, provided that the funds for the redemption are on deposit with the place of payment at that time. 2.04. Appointment of Initial Registrar. The City appoints U.S. Bank National Association, Saint Paul, Minnesota, as the initial Registrar. The Mayor and the City Manager are authorized to execute and deliver, on behalf of the City, a contract with the Registrar. Upon merger or consolidation of the Registrar with another corporation, if the resulting corporation is a bank or trust company authorized by law to conduct such business, the resulting corporation is authorized to act as successor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to remove the Registrar upon 30 days’ notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar must deliver all cash and Bonds in its possession to the successor Registrar and must deliver the bond register to the successor Registrar. On or before each principal or interest due date, without further order of this City Council, the Finance Director must transmit to the Registrar moneys sufficient for the payment of all principal and interest then due. 2.05. Execution, Authentication and Delivery. The Bonds will be prepared under the direction of the City Manager and executed on behalf of the City by the signatures of the Mayor and the City Manager, provided that those signatures may be printed, engraved or lithographed facsimiles of the originals. If an officer whose signature or a facsimile of whose signature appears on the Bonds ceases to be such officer before the delivery of a Bond, that signature or facsimile will nevertheless be valid and sufficient for all purposes, the same as if the officer had remained in office until delivery. Notwithstanding such execution, a Bond will not be valid or obligatory for any purpose or entitled to any security or benefit under this resolution unless and until a certificate of authentication on the Bond has been duly executed by the manual signature of an authorized representative of the Registrar. Certificates of authentication on different Bonds need not be signed by the same representative. The executed certificate of authentication on a Bond is conclusive evidence that it has been authenticated and delivered under this resolution. When the Bonds have been so prepared, executed and authenticated, the City Manager will deliver the same to the Purchaser upon payment of the purchase price in accordance with the contract of sale heretofore made and executed, and the Purchaser is not obligated to see to the application of the purchase price. 2.06. Temporary Bonds. The City may elect to deliver in lieu of printed definitive Bonds one or more typewritten temporary Bonds in substantially the form set forth in EXHIBIT B attached hereto with such changes as may be necessary to reflect more than one maturity in a single temporary bond. Upon the execution and delivery of definitive Bonds the temporary Bonds will be exchanged therefor and cancelled. Section 3. Form of Bond. 3.01. Execution of the Bonds. The Bonds will be printed or typewritten in substantially the form set forth in EXHIBIT B. May 14, 2018 18 City Council Meeting Minutes 3.02. Approving Legal Opinion. The City Manager is authorized and directed to obtain a copy of the proposed approving legal opinion of Kennedy & Graven, Chartered, Minneapolis, Minnesota, which is to be complete except as to dating thereof and cause the opinion to be printed on or accompany each Bond. Section 4. Payment; Security; Pledges and Covenants. 4.01. Debt Service Fund. The Bonds will be payable from the General Obligation Bonds, Series 2018A Debt Service Fund (the “Debt Service Fund”) hereby created. The Debt Service Fund shall be administered and maintained by the Finance Director as a bookkeeping account separate and apart from all other funds maintained in the official financial records of the City. The City will maintain the following accounts in the Debt Service Fund: the “Abatement Account” and the “Assessable Improvements Account.” Amounts in the Abatement Account are irrevocably pledged to the Abatement Bonds, and amounts in the Assessable Improvements Account are irrevocably pledged to the Improvement Bonds. (a) Abatement Account. Abatements from the Abatement Parcels and ad valorem taxes levied for the Abatement Project are hereby pledged to the Abatement Account of the Debt Service Fund. (b) Assessable Improvements Account. Ad valorem taxes hereinafter levied and special assessments (the “Assessments”) collected for the Assessable Improvements are hereby pledged to the Assessable Improvements Account of the Debt Service Fund. 4.02. Construction Fund. The City hereby creates the General Obligation Bonds, Series 2018A Construction Fund (the “Construction Fund”). The City will maintain the following accounts in the Construction Fund: the “Abatement Account” and the “Assessable Improvements Account.” Amounts in the Abatement Account are irrevocably pledged to the Abatement Bonds, and amounts in the Assessable Improvements Account are irrevocably pledged to the Improvement Bonds. (a) Abatement Account. Proceeds of the Abatement Bonds, less the appropriations made in Section 4.01(a) hereof, together with any other funds appropriated for the Abatement Project, Abatements from the Abatement Parcels and ad valorem taxes collected during the construction of the Abatement Project, will be deposited in the Abatement Account of the Construction Fund to be used solely to defray expenses of the Abatement Project described herein and in the Abatement Resolution. When the Abatement Project is completed and the cost thereof paid, the Abatement Account of the Construction Fund is to be closed and any funds remaining may be deposited in the Abatement Account of the Debt Service Fund. (b) Assessable Improvements Account. Proceeds of the Improvement Bonds, less the appropriations made in Section 4.01(b) hereof, together with any other funds appropriated for the Assessable Improvements, ad valorem taxes, and Assessments collected during the construction of the Assessable Improvements, will be deposited in the Assessable Improvements Account of the Construction Fund to be used solely to defray expenses of the Assessable Improvements and the payment of principal of and interest on the Improvement Bonds prior to the completion and payment of all costs of the Assessable Improvements. Any balance remaining in the Assessable Improvements Account after completion of the Assessable Improvements may be used to pay the cost in whole or in May 14, 2018 19 City Council Meeting Minutes part of any other improvement instituted under the Improvement Act, under the direction of the City Council. When the Assessable Improvements are completed and the cost thereof paid, the Assessable Improvements Account of the Construction Fund is to be closed and any subsequent collections of Assessments and ad valorem taxes for the Assessable Improvements are to be deposited in the Assessable Improvements Account of the Debt Service Fund. 4.03. City Covenants with Respect to the Improvement Bonds. It is hereby determined that the Assessable Improvements will directly and indirectly benefit abutting property, and the City hereby covenants with the holders from time to time of the Bonds as follows: (a) The City will cause the Assessments for the Assessable Improvements to be promptly levied so that the first installment for the Assessable Improvements will be collectible not later than 2019 and will take all steps necessary to assure prompt collection, and the levy of the Assessments is hereby authorized. The City Council will cause to be taken with due diligence all further actions that are required for the construction of each Assessable Improvement financed wholly or partly from the proceeds of the Improvement Bonds, and will take all further actions necessary for the final and valid levy of the Assessments and the appropriation of any other funds needed to pay the Improvement Bonds and interest thereon when due. (b) In the event of any current or anticipated deficiency in Assessments and ad valorem taxes, the City Council will levy additional ad valorem taxes in the amount of the current or anticipated deficiency. (c) The City will keep complete and accurate books and records showing receipts and disbursements in connection with the Assessable Improvements, Assessments and ad valorem taxes levied therefor and other funds appropriated for their payment, collections thereof and disbursements therefrom, monies on hand and, the balance of unpaid Assessments. (d) The City will cause its books and records to be audited at least annually and will furnish copies of such audit reports to any interested person upon request. (e) At least twenty percent (20%) of the cost to the City of the Assessable Improvements described herein will be specially assessed against benefited properties. 4.04. Abatement Pledge. It is determined that the principal amount of the Abatement Bonds does not exceed the estimated sum of the Abatements for the years authorized under the Abatement Resolution. 4.05. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Bonds, as the same respectively become due, the full faith, credit and taxing powers of the City will be and are hereby irrevocably pledged. If the balance in the Debt Service Fund is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency will be promptly paid out of monies in the general fund of the City which are available for such purpose, and such general fund may be reimbursed with or without interest from the Debt Service Fund when a sufficient balance is available therein. May 14, 2018 20 City Council Meeting Minutes 4.06. Pledge of Tax Levy. For the purpose of paying the principal of and interest on the Bonds, there is levied a direct annual irrepealable ad valorem tax (the “Taxes”) upon all of the taxable property in the City, which will be spread upon the tax rolls and collected with and as part of other general taxes of the City. The Taxes will be credited on a pro rata basis to the Abatement Account and the Assessable Improvements Account of the Debt Service Fund above provided and will be in the years and amounts as attached hereto as EXHIBIT C. 4.07. Certification to County Auditor as to Debt Service Fund Amount. It is hereby determined that the estimated collections of Abatements from the Abatement Parcels, Taxes and Assessments will produce at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. The tax levy herein provided is irrepealable until all of the Bonds are paid, provided that at the time the City makes its annual tax levies the Finance Director may certify to the Director of Property Records and Revenue of Ramsey County, Minnesota (the “County Auditor”) the amount available in the Debt Service Fund to pay principal and interest due during the ensuing year, and the County Auditor will thereupon reduce the levy collectible during such year by the amount so certified. 4.08. Registration of Resolution. The City Manager is authorized and directed to file a certified copy of this resolution with the County Auditor and to obtain the certificate required by Section 475.63 of the Act. Section 5. Authentication of Transcript. 5.01. City Proceedings and Records. The officers of the City are authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies of proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other certificates, affidavits and transcripts as may be required to show the facts within their knowledge or as shown by the books and records in their custody and under their control, relating to the validity and marketability of the Bonds, and such instruments, including any heretofore furnished, will be deemed representations of the City as to the facts stated therein. 5.02. Certification as to Official Statement. The Mayor and the City Manager are authorized and directed to certify that they have examined the Official Statement prepared and circulated in connection with the issuance and sale of the Bonds and that to the best of their knowledge and belief the Official Statement is a complete and accurate representation of the facts and representations made therein as of the date of the Official Statement. 5.03. Other Certificates. The Mayor, the City Manager, and the Finance Director are hereby authorized and directed to furnish to the Purchaser at the closing such certificates as are required as a condition of sale. Unless litigation shall have been commenced and be pending questioning the Bonds or the organization of the City or incumbency of its officers, at the closing the Mayor and the City Manager shall also execute and deliver to the Purchaser a suitable certificate as to absence of material litigation, and the Finance Director shall also execute and deliver a certificate as to payment for and delivery of the Bonds. Section 6. Tax Covenant. May 14, 2018 21 City Council Meeting Minutes 6.01. Tax-Exempt Bonds. The City covenants and agrees with the holders from time to time of the Bonds that it will not take or permit to be taken by any of its officers, employees, or agents any action which would cause the interest on the Bonds to become subject to taxation under the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations promulgated thereunder, in effect at the time of such actions, and that it will take or cause its officers, employees or agents to take, all affirmative action within its power that may be necessary to ensure that such interest will not become subject to taxation under the Code and applicable Treasury Regulations, as presently existing or as hereafter amended and made applicable to the Bonds. To that end, the City will comply with all requirements necessary under the Code to establish and maintain the exclusion from gross income of the interest on the Bonds under Section 103 of the Code, including without limitation requirements relating to temporary periods for investments, limitations on amounts invested at a yield greater than the yield on the Bonds, and the rebate of excess investment earnings to the United States (unless the City qualifies for any exemption from rebate requirements based on timely expenditure of proceeds of the Bonds, in accordance with the Code and applicable Treasury Regulations). 6.02. Not Private Activity Bonds. The City further covenants not to use the proceeds of the Bonds or to cause or permit them or any of them to be used, in such a manner as to cause the Bonds to be “private activity bonds” within the meaning of Sections 103 and 141 through 150 of the Code. 6.03. Qualified Tax-Exempt Obligations. In order to qualify the Bonds as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code, the City makes the following factual statements and representations: (a) the Bonds are not “private activity bonds” as defined in Section 141 of the Code; (b) the City designates the Bonds as “qualified tax-exempt obligations” for purposes of Section 265(b)(3) of the Code; (c) the reasonably anticipated amount of tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) which will be issued by the City (and all subordinate entities of the City) during calendar year 2018 will not exceed $10,000,000; and (d) not more than $10,000,000 of obligations issued by the City during calendar year 2018 have been designated for purposes of Section 265(b)(3) of the Code. 6.04. Procedural Requirements. The City will use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designations made by this section. Section 7. Book-Entry System; Limited Obligation of City. 7.01. DTC. The Bonds will be initially issued in the form of a separate single typewritten or printed fully registered Bond for each of the maturities set forth in Section 1.06 hereof. Upon initial issuance, the ownership of each Bond will be registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York, and its successors and assigns (“DTC”). May 14, 2018 22 City Council Meeting Minutes Except as provided in this section, all of the outstanding Bonds will be registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee of DTC. 7.02. Participants. With respect to Bonds registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee of DTC, the City, the Registrar and the Paying Agent will have no responsibility or obligation to any broker dealers, banks and other financial institutions from time to time for which DTC holds Bonds as securities depository (the “Participants”) or to any other person on behalf of which a Participant holds an interest in the Bonds, including but not limited to any responsibility or obligation with respect to (i) the accuracy of the records of DTC, Cede & Co. or any Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any Participant or any other person (other than a registered owner of Bonds, as shown by the registration books kept by the Registrar), of any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to any Participant or any other person, other than a registered owner of Bonds, of any amount with respect to principal of, premium, if any, or interest on the Bonds. The City, the Registrar and the Paying Agent may treat and consider the person in whose name each Bond is registered in the registration books kept by the Registrar as the holder and absolute owner of such Bond for the purpose of payment of principal, premium and interest with respect to such Bond, for the purpose of registering transfers with respect to such Bonds, and for all other purposes. The Paying Agent will pay all principal of, premium, if any, and interest on the Bonds only to or on the order of the respective registered owners, as shown in the registration books kept by the Registrar, and all such payments will be valid and effectual to fully satisfy and discharge the City’s obligations with respect to payment of principal of, premium, if any, or interest on the Bonds to the extent of the sum or sums so paid. No person other than a registered owner of Bonds, as shown in the registration books kept by the Registrar, will receive a certificated Bond evidencing the obligation of this resolution. Upon delivery by DTC to the City Manager of a written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Co., the words “Cede & Co.” will refer to such new nominee of DTC; and upon receipt of such a notice, the City Manager will promptly deliver a copy of the same to the Registrar and Paying Agent. 7.03. Representation Letter. The City has heretofore executed and delivered to DTC a Blanket Issuer Letter of Representations (the “Representation Letter”) which will govern payment of principal of, premium, if any, and interest on the Bonds and notices with respect to the Bonds. Any Paying Agent or Registrar subsequently appointed by the City with respect to the Bonds will agree to take all action necessary for all representations of the City in the Representation Letter with respect to the Registrar and Paying Agent, respectively, to be complied with at all times. 7.04. Transfers Outside Book-Entry System. In the event the City, by resolution of the City Council, determines that it is in the best interests of the persons having beneficial interests in the Bonds that they be able to obtain Bond certificates, the City will notify DTC, whereupon DTC will notify the Participants, of the availability through DTC of Bond certificates. In such event the City will issue, transfer and exchange Bond certificates as requested by DTC and any other registered owners in accordance with the provisions of this resolution. DTC may determine to discontinue providing its services with respect to the Bonds at any time by giving notice to the City and discharging its responsibilities with respect thereto under applicable law. In such event, if no successor securities depository is appointed, the City will issue and the Registrar will authenticate Bond certificates in May 14, 2018 23 City Council Meeting Minutes accordance with this resolution and the provisions hereof will apply to the transfer, exchange and method of payment thereof. 7.05. Payments to Cede & Co. Notwithstanding any other provision of this resolution to the contrary, so long as a Bond is registered in the name of Cede & Co., as nominee of DTC, payments with respect to principal of, premium, if any, and interest on the Bond and all notices with respect to the Bond will be made and given, respectively in the manner provided in DTC’s Operational Arrangements, as set forth in the Representation Letter. Section 8. Continuing Disclosure. 8.01. Execution of Continuing Disclosure Certificate. “Continuing Disclosure Certificate” means that certain Continuing Disclosure Certificate executed by the Mayor and City Manager and dated the date of issuance and delivery of the Bonds, as originally executed and as it may be amended from time to time in accordance with the terms thereof. 8.02. City Compliance with Provisions of Continuing Disclosure Certificate. The City hereby covenants and agrees that it will comply with and carry out all of the provisions of the Continuing Disclosure Certificate. Notwithstanding any other provision of this resolution, failure of the City to comply with the Continuing Disclosure Certificate is not to be considered an event of default with respect to the Bonds; however, any Bondholder may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the City to comply with its obligations under this section. Section 9. Defeasance. When all Bonds and all interest thereon have been discharged as provided in this section, all pledges, covenants and other rights granted by this resolution to the holders of the Bonds will cease, except that the pledge of the full faith and credit of the City for the prompt and full payment of the principal of and interest on the Bonds will remain in full force and effect. The City may discharge all Bonds which are due on any date by depositing with the Registrar on or before that date a sum sufficient for the payment thereof in full. If any Bond should not be paid when due, it may nevertheless be discharged by depositing with the Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. Seconded by Councilmember Abrams Ayes – All The motion passed. Mayor Slawik turned the meeting over to Councilmember/Acting Mayor Smith for the next item on the agenda. J. NEW BUSINESS 1. Consider Approval of Purchase Agreement for 2494 Harvester Avenue East Assistant City Manager/HR Director introduced the item. Environmental/Code Specialist Swanson gave the staff report. May 14, 2018 24 City Council Meeting Minutes Councilmember Juenemann moved to approve the terms of the purchase agreement and authorize the City Manager to execute the agreement for the purchase of 2494 Harvester Avenue East with Keith Rott for a purchase price of $105,000; the City Attorney is authorized to approve the final format of the agreement and also approve minor modifications to the agreement; staff is also authorized to execute an agreement with an alternate bidder for no less than $100,000, if the deal with Mr. Rott is pulled before both parties close on the land purchase. Seconded by Councilmember Abrams Ayes – All The motion passed. 2. Farrell-Ferndale Area Street Improvements, City Project 17-18 a. Consider Approval of Resolution Approving Plans and Specifications and Advertising for Bids b. Consider Approval of Resolution Ordering Preparation of Assessment Roll Assistant City Manager/HR Director introduced the item. Public Works Director/City Engineer gave the staff report. Councilmember Juenemann moved to approve the Resolution Approving Plans and Specifications and Advertising for Bids for the Farrell-Ferndale Area Street Improvements, City Project 17-18. Resolution 18-05-1564 Approving Plans and Specifications And Advertising for Bids WHEREAS, pursuant to resolution passed by the City Council on April 9, 2018, plans and specifications for the Farrell-Ferndale Area Street Improvements, City Project 17-18, have been prepared by (or under the direction of) the City Engineer, who has presented such plans and specifications to the City Council for approval, WHEREAS, pursuant to a resolution of the City Council adopted April 9, 2018, fixed a date for a council hearing on the proposed street improvements for the Farrell- Ferndale Area Street Improvements, City Project 17-18. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MAPLEWOOD, MINNESOTA: 1. Such plans and specifications are hereby approved and ordered placed on file in the office of the City Engineer. 2. The City Clerk or office of the City Engineer shall prepare and cause to be inserted into the official paper and Finance and Commerce an advertisement for bids upon the making of such improvement under such approved plans and specifications. The advertisement shall be published twice, at least twenty-one days before the date set for bid opening, shall specify the work to be done, shall state that bids will be publicly th opened and considered by the council at 10:00 a.m. on the 5 day of June, 2018, at city hall and that no bids shall be considered unless sealed and filed with the clerk and May 14, 2018 25 City Council Meeting Minutes accompanied by a certified check or bid bond, payable to the City of Maplewood, Minnesota for five percent of the amount of such bid. 3. The City Clerk and City Engineer are hereby authorized and instructed to receive, open, and read aloud bids received at the time and place herein noted, and to tabulate the bids received. The City Council will consider the bids, and the award of a contract, at the regular city council meeting of June 11, 2018. Seconded by Councilmember Abrams Ayes – All The motion passed. Councilmember Smith moved to approve the Resolution Ordering Preparation of Assessment Roll for the Farrell-Ferndale Area Street Improvements, City Project 17-18. Resolution 18-05-1565 Ordering Preparation of Assessment Roll WHEREAS, the City Clerk and City Engineer will receive bids for the Farrell- Ferndale Area Street Improvements, City Project 17-18. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF MAPLEWOOD, MINNESOTA that the City Clerk and City Engineer shall forthwith calculate the proper amount to be specially assessed for such improvement against every assessable lot, piece or parcel of land abutting on the streets affected, without regard to cash valuation, as provided by law, and they shall file a copy of such proposed assessment in the city office for inspection. FURTHER, the City Clerk shall, upon completion of such proposed assessment notify the City Council thereof. Seconded by Councilmember Juenemann Ayes – All The motion passed. K. ADJOURNMENT Mayor Slawik adjourned the meeting at 9:25 p.m. May 14, 2018 26 City Council Meeting Minutes