HomeMy WebLinkAbout2023-07-24 City Council Meeting MinutesA
C
E.
F.
MINUTES
MAPLEWOOD CITY COUNCIL
7:00 P.M. Monday, July 24, 2023
City Hall, Council Chambers
Meeting No. 14-23
CALL TO ORDER
A meeting of the City Council was held in the City Hall Council Chambers and was
called to order at 7:22 p.m. by Mayor Abrams.
Mayor Abrams announced she took a tour of the Ramsey/Washington Recycling and
Energy Center and learned all of Maplewood will be able to participate in curbside food
scraps collection beginning September or October, 2023.
PLEDGE OF ALLEGIANCE
ROLL CALL
Marylee Abrams, Mayor Present
Rebecca Cave, Councilmember Present
Kathleen Juenemann, Councilmember Present
Chonburi Lee, Councilmember Present
Nikki Villavicencio, Councilmember Present
APPROVAL OF AGENDA
The following items were added to Council Presentations:
Fishing with Friends
Harmony Gardens
National Night Out
Councilmember Lee moved to approve the agenda as amended.
Seconded by Councilmember Cave Ayes — All
The motion passed.
APPROVAL OF MINUTES
1. July 10, 2023 City Council Meeting Minutes
Councilmember Juenemann moved to approve the July 10, 2023 City Council Meeting
Minutes as submitted.
Seconded by Councilmember Lee Ayes — All
The motion passed.
APPOINTMENTS AND PRESENTATIONS
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1. Administrative Presentations
a. Council Calendar Update
Assistant City Manager/HR Director Darrow gave an update to the council calendar and
reviewed other topics of concern or interest requested by councilmembers.
2. Council Presentations
Fishing with Friends
Councilmember Lee gave a shout -out to Maplewood's Public Safety Departments for a
fun and successful Fishing with Friends event.
Harmony Gardens
Mayor Abrams attended the grand opening at Harmony Gardens, toured the campus,
and shared information about the development.
National Night Out
Councilmember Juenemann reminded residents that National Night Out is August 1st
and encouraged residents to sign up to host a party.
G. CONSENT AGENDA — Items on the Consent Agenda are considered routine and non-
controversial and are approved by one motion of the council. If a councilmember
requests additional information or wants to make a comment regarding an item, the vote
should be held until the questions or comments are made then the single vote should be
taken. If a councilmember objects to an item it should be removed and acted upon as a
separate item.
Councilmember Cave moved to aaarove aaenda items G1-G4
Seconded by Councilmember Juenemann Ayes — All
The motion passed.
1. Approval of Claims
Councilmember Cave moved to approve the approval of claims.
ACCOUNTS PAYABLE:
$ 402,323.84 Checks # 111049 thru # 111071
dated 7/11 /23
$ 934,802.58 Checks # 111072 thru # 111100
dated 7/18/23
$ 397,218.00 Disbursements via debits to checking account
dated 07/03/23 thru 07/16/23
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$ 1,734,344.42 Total Accounts Payable
PAYROLL
$ 684,591.23 Payroll Checks and Direct Deposits dated 7/07/23
$ 684,591.23 Total Payroll
$ 2,418,935.65 GRAND TOTAL
Seconded by Councilmember Juenemann Ayes — All
The motion passed.
2. OpenGov Cartegraph Software License Renewal
Councilmember Cave moved to approve the renewal of the Cartegraph software license
with OpenGov for a period of three years.
Seconded by Councilmember Juenemann Ayes — All
The motion passed.
3. Resolution Ordering Preparation of Feasibility Study, 2024 Maplewood Street
Improvements, City Project 23-08
Councilmember Cave moved to approve the Resolution Ordering the Preparation of a
Feasibility Study for the 2024 Maplewood Street Improvements, City Project 23-08.
Resolution 23-07-2231
RESOLUTION ORDERING PREPARATION OF A FEASIBILITY STUDY
WHEREAS, it is proposed to make improvements to the East Shore Drive Area
Streets and the Cypress -Maplewood Drive Area Streets, as depicted on the project
location maps, and is hereby called the 2024 Maplewood Street Improvements, City
Project 23-08.
AND WHEREAS, it is proposed to assess the benefited properties for all or a
portion of the cost of the improvement, pursuant to Minnesota Statutes, Chapter 429,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
MAPLEWOOD, MINNESOTA:
That the proposed improvement be referred to the City Engineer for study and
that he is instructed to report to the City Council with all convenient speed advising the
council in a preliminary way as to whether the proposed improvement is necessary, cost
effective and feasible, and as to whether it should best be made as proposed or in
connection with some other improvement, and the estimated cost of the improvement as
recommended.
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FURTHERMORE, funds in the amount of $100,000 are appropriated to prepare
this Feasibility Study.
Seconded by Councilmember Juenemann Ayes — All
The motion passed.
4. Minnesota Department of Commerce Auto Theft Prevention Grant Funds
Councilmember Cave moved to accept grant money in the amount of $618,000.00 by
entering into the Auto Theft Investigator Agreement with the Minnesota Department of
Commerce for two grant funded Auto Theft Investigators for a three year contract and
related training and travel expenses for the years 2023 through 2026. Furthermore, the
Finance Director is authorized to make necessary budget adjustments of approximately
$358,000.00 for the years 2023 through 2026 to cover all additional expenses
($120,000.00 per vear) for two Auto Theft Investigators.
Seconded by Councilmember Juenemann Ayes — All
The motion passed.
H. PUBLIC HEARINGS — If you are here fora Public Hearing please familiarize yourself
with the Rules of Civility printed on the back of the agenda. Sign in with the City Clerk
before addressing the council. At the podium please state your name and address
clearly for the record. All comments/questions shall be posed to the Mayor and Council.
The Mayor will then direct staff, as appropriate, to answer questions or respond to
comments.
None
UNFINISHED BUSINESS
1. Resolution Awarding the Sale of G.O. Improvement Bonds, Series 2023A
Finance Director Rueb gave the staff report. Bruce Kimmel, Senior Municipal Advisor
with Ehlers, provided information on rating and sale day.
Councilmember Cave moved to approve the Resolution Awarding the Sale of General
Obligation Improvement Bonds, Series 2023A, in the Original Aggregate Principal
Amount of $1,945,000; Fixing Their Form and Specifications; Directing Their Execution
and Delivery; and Providing for Their Payment.
Resolution 23-07-2232
A RESOLUTION AWARDING THE SALE OF GENERAL OBLIGATION IMPROVEMENT
BONDS, SERIES 2023A, IN THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF
$1,945,000; 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 (the "Council") of Maplewood, Ramsey
County, Minnesota (the "City"), as follows:
Section 1. Sale of Bonds.
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1.01 Authority. It is hereby determined that:
(a) Certain assessable public improvements within the City, including but not
limited to the project designated by the City as the Myrtle -Sterling Area
Street Improvements (the "Improvements"), have been made, duly ordered
or contracts have been let for the construction thereof pursuant to the
provisions of Minnesota Statutes, Chapters 429 and 475, as amended
(collectively, the "Act").
(b) It is necessary and expedient to the sound financial management of the
affairs of the City to issue its General Obligation Improvement Bonds,
Series 2023A (the "Bonds"), in the original aggregate principal amount of
$1,945,000, pursuant to the Act, to provide financing for the
Improvements.
(c) At a duly called and regularly held Council meeting on June 12, 2023, the
Council adopted a resolution providing for the issuance and sale of the
Bonds (the "Authorizing Resolution"), pursuant to which the Council
established a sale date for the Bonds of July 10, 2023. Following adoption
of the Authorizing Resolution, City staff, in consultation with its municipal
advisor, determined that the sale date for the Bonds should instead occur
on July 24, 2023. The Council hereby ratifies such change in sale date
from July 10, 2023 to July 24, 2023.
(d) The City is authorized by Section 475.60, subdivision 2(9) of the Act to
negotiate the sale of the Bonds, it being determined that the City has
retained an independent municipal advisor in connection with such sale.
The actions of the City staff and the City's municipal advisor in negotiating
the sale of the Bonds are ratified and confirmed in all aspects.
1.02. Award to the Purchaser and Interest Rates. The proposal of TD Securities (USA)
LLC, New York, New York (the "Purchaser"), to purchase the Bonds of the City 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 $2,094,324.70 (the par
amount of $1,945,000.00, plus original issue premium of $178,499.70, less
underwriter's discount of $29,175.00), plus accrued interest, if any, to the date of
delivery, for Bonds bearing interest as follows:
Year
Interest Rate
Year
Interest Rate
2025
5.000%
2033
5.000%
2026
5.000
2034
4.000
2027
5.000
2035
4.000
2028
5.000
2036
4.000
2029
5.000
2037
4.000
2030
5.000
2038
4.000
2031
5.000
2039
4.000
2032
5.000
True interest cost: 3.3579374%
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1.03. Purchase Contract. Any amount paid by the Purchaser in excess of the
minimum purchase price, shall be credited to the Debt Service Fund hereinafter
created or deposited in the Construction Fund hereinafter created, as determined
by the City's Finance Director (the "Finance Director") in consultation with the
City's municipal advisor. The Finance Director is directed to retain the good faith
check of the Purchaser, pending completion of the sale of the Bonds, and to
return the good faith checks of the unsuccessful proposers. The Mayor and City
Manager are directed to execute a contract with the Purchaser on behalf of the
City.
1.04. 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 $1,945,000,
originally dated the date of delivery (currently anticipated to be August 10, 2023)
in the denomination of $5,000 each or any integral 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
2025 $55,000 2033 $135,000
2026 100,000 2034 145,000
2027 100,000 2035 150,000
2028 110,000 2036 155,000
2029 115,000 2037 160,000
2030 120,000 2038 170,000
2031 125,000 2039 175,000
2032 130,000
1.05. Optional Redemption. The City may elect on February 1, 2033 and on any day
thereafter to prepay the Bonds maturing on or after February 1, 2034.
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 ownership interests in such
maturity to be redeemed. Prepayments will be at a price of par plus accrued
interest.
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, draft, or wire 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
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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 August 1, 2024, to the registered owners of record thereof as
of the close of business on the fifteenth day of the immediately preceding month,
whether or not that 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 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
the registered owner or upon the registered owner's order will be valid and
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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 of 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 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 Bond Trust Services
Corporation, Roseville, 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 thirty (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 the City
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Council, the City Manager must transmit to the Registrar money 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.
Section 3. Form of Bond.
3.01. Execution of the Bonds. The Bonds will be printed or typewritten in substantially
the form as attached hereto as EXHIBIT B.
3.02. Approving Legal Opinion. The City Manager is directed to obtain a copy of the
proposed approving legal opinion of Kennedy & Graven, Chartered, Minneapolis,
Minnesota, and to 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 are payable from the General Obligation
Improvement Bonds, Series 2023A Debt Service Fund (the "Debt Service Fund")
hereby created, and the proceeds of general taxes hereinafter levied (the
"Taxes") and special assessments levied or to be levied (the "Assessments") for
the Improvements described herein are hereby pledged to the Debt Service
Fund. There is appropriated to the Debt Service Fund: (i) capitalized interest
financed from Bond proceeds, if any; (ii) any amount over the minimum purchase
price of the Bonds paid by the Purchaser, to the extent designated for deposit in
the Debt Service Fund in accordance with Section 1.03 hereof; and (iii) all
investment earnings on funds in the Debt Service Fund.
4.02. Construction Fund. The proceeds of the Bonds, less the appropriations made in
Section 4.01 hereof and costs of issuance paid pursuant to Section 4.08,
together with any other funds appropriated for the Improvements, the
Assessments and the Taxes collected during the construction of the
Improvements, will be deposited in a separate construction fund (the
"Construction Fund") to be used solely to defray expenses of the Improvements
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and the payment of principal of and interest on the Bonds prior to the completion
and payment of all costs of the Improvements. Any balance remaining in the
Construction Fund after completion of the Improvements may be used to pay the
cost in whole or in part of any other improvement instituted under the Act under
the direction of the City Council. When the Improvements are completed and the
cost thereof paid, the Construction Fund is to be closed and subsequent
collections of Assessments for the Improvements and any Taxes are to be
deposited in the Debt Service Fund.
4.03. City Covenants. It is hereby determined that the 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) It is hereby determined that the Improvements will directly and indirectly
benefit abutting property and other identified property, and that at least
twenty percent (20%) of the cost of the assessable Improvements
described herein will be specially assessed against benefited properties.
The City has caused or will cause the Assessments for the Improvements
to be promptly levied so that the first installment will be collectible not later
than 2023 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 Improvement financed wholly or partly
from the proceeds of the 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 Bonds and interest thereon when due.
(b) In the event of any current or anticipated deficiency in Assessments and
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 Improvements,
Assessments and Taxes levied therefor and other funds appropriated for
their payment, collections thereof and disbursements therefrom, money 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.
4.04. Pledge of Tax Levy. For the purpose of paying a portion of the principal of and
interest on the Bonds, there is levied a direct annual irrepealable ad valorem tax
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 to the Debt Service Fund above provided and will be in the years and
amounts as attached hereto as EXHIBIT C.
4.05. General Obligation Pledge. For the prompt and full payment of principal of and
interest on the Bonds, as the same respectively become due, the full faith, credit,
and taxing powers of the City are irrevocably pledged. If a payment of principal
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of or interest on the Bonds becomes due when there is not sufficient money in
the Debt Service Fund to pay the same, the City Manager is directed to pay such
principal or interest from the general fund of the City, and the general fund will be
reimbursed for those advances with or without interest from the Debt Service
Fund when a sufficient balance is available therein.
4.06. Certification to Countv Auditor -Treasurer as to Debt Service Fund Amount. It is
hereby determined that the estimated collections of Assessments and the
foregoing Taxes 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 for the Bonds 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 County Auditor -Treasurer 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.
4.07. Certificate of County Auditor as to Registration. 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.
4.08. Payment of Costs of Issuance. The City authorizes the Purchaser to deposit the
amount of Bond proceeds allocable to the payment of issuance expenses being
paid on the closing date in accordance with the closing memorandum prepared
by City's municipal adviser, Ehlers & Associates, Inc. for further distribution by
Ehlers & Associates, Inc.
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, may be deemed representations
of the City as to the facts stated therein.
5.02. Certification as to Final Official Statement. The Mayor and the City Manager are
authorized and directed to certify that they have examined the Final 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 Final Official
Statement is a complete and accurate representation of the facts and
representations made therein as of the date of the Final 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
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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.
5.04. Electronic Signatures. The electronic signature of the Mayor, City Manager, and
Finance Director, to this resolution or to any certificate authorized to be executed
hereunder shall be as valid as an original signature of such party and shall be
effective to bind the City thereto. For purposes hereof, (i) "electronic signature"
means a manually signed original signature that is then transmitted by electronic
means; and (ii) "transmitted by electronic means" means sent in the form of a
facsimile or sent via the internet as a portable document format ("pdf") or other
replicating image attached to an electronic mail or internet message.
Section 6. Tax Covenants.
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.
6.02. No Rebate. For purposes of qualifying for the small issuer exception to the
federal arbitrage rebate requirements, the City hereby finds, determines, and
declares that the aggregate face amount of all tax-exempt bonds (other than
private activity bonds) issued by the City (and all subordinate entities of the City)
during the calendar year in which the Bonds are issued and outstanding at one
time is not reasonably expected to exceed $5,000,000, all within the meaning of
Section 148(f)(4)(D) of the Code.
6.03. Not Private Activity Bonds. The City further covenants not to use the proceeds of
the Bonds or the Improvements financed by 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.
6.04. 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 hereby designates the Bonds as "qualified tax-exempt obligations"
for purposes of Section 265(b)(3) of the Code;
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(c) the reasonably anticipated amount of tax-exempt obligations (other than
any 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 2023 will not exceed $10,000,000; and
(d) not more than $10,000,000 of obligations issued by the City during
calendar year 2023 have been designated for purposes of Section
265(b)(3) of the Code.
6.05. 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.
6.06. Reimbursement. The City has or may have incurred certain expenditures with
respect to the Improvements that were financed temporarily from other sources
but are expected to be reimbursed with proceeds of the Bonds. The City hereby
declares its intent to reimburse certain costs of the Improvements from proceeds
of the Bonds (the "Declaration"). This Declaration is intended to constitute a
declaration of official intent for purposes of the Section 1.150-2 of the Treasury
Regulations promulgated under the Code.
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 of the Bonds
as described in Section 1.04 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'). 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
July 24, 2023
City Council Meeting Minutes
13
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 shall
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 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 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 the 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.
July 24, 2023
City Council Meeting Minutes
14
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 or
by depositing irrevocably in escrow, with a suitable institution qualified by law as
an escrow agent for this purpose, cash or securities which are backed by the full
faith and credit of the United States of America, or any other security authorized
under Minnesota law for such purpose, bearing interest payable at such times
and at such rates and maturing on such dates and in such amounts as shall be
required and sufficient, subject to sale and/or reinvestment in like securities, to
pay said obligation(s), which may include any interest payment on such Bond
and/or principal amount due thereon at a stated maturity (or if irrevocable
provision shall have been made for permitted prior redemption of such principal
amount, at such earlier redemption date). 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.
EXHIBIT A
PROPOSALS
The remainder of this page intentionally left blank
July 24, 2023
City Council Meeting Minutes
15
g�"-,EHLERS
BID TABULATION
$2,125,000" General Obligation Improvement Bonds, Series 2023A
City of Maplewood, Minnesota
SALE: July 24, 2023
AWARD: TD SECURITIES (USA) LLC
Rating: S&P Global Ratings "AA+"
Tax Exempt - Bank Qualified
NET TRUE
SLITURIIY REOFFERING INTEREST INTEREST
NAME OF BIDDER (Febraar'v 1) RATE YIELD PRICE COST RATE
TD SECURITIES (USA) LLC
New York, New York
BAIRD
Milwaukee, Wisconsin
BANCROFT CAPITAL, LLC
Fort Washington, Pennsylvania
NORTHLAND SECURITIES, INC.
Minneapolis, Minnesota
2025
5.0000/0
3.0501%
2026
5.000'/e
3.0001%
2027
5.000'/e
2.850%
2029
5.000%
2.760%
2029
5.00Me
2.720%
2030
5.0000/6
2.670%
2031
5.0006/6
2.670%
2032
5.0006/6
2.670%
2033
5.000%
2.670%
2034
4.0001/o
2.940%
2035
4.000%
3.030%
2036
4.000%
3.170%
2037
4.000%
3350'/e
2038
4.000%
3.4907e
2039
4.000%
3.560%
$2,298,003.95 $694,41230 3.3511%
3.3573%
3.4144%
3.4761%
Subsequent to bid opening the issue size was decreased to $1,945,000.
Adjusted Price - $2,094,324.70 Adjusted Net Interest Cost - $645,132.80 Adjusted TIC - 3.3579%
BUILDING COMMUNITIES- IT'S WHAT WE DO 0 inforgehlers-inc.com 1 (800) SS2.1171 wwwehlers-mccom
July 24, 2023
City Council Meeting Minutes
16
NET TRLB
MATURITY REOFFERING LNTEREST LN"TEREST
N_A\IE OF BIDDER (February I f RATE FIELD PRICE COST RATE
FHN FINANCIAL CAPITAL 3.49895.
MARKETS
Memphis, Tennessee
HL:VTINGTON SECURITIES. INC 3.5064%
Chicago, Illinois
KEYBANC CAPITAL MARKETS 3.5178%
INCORPORATED
Cleveland. Ohio
STIFEL, NICOLAi:S 3.5562%
Birminebam Alabama
HILLTOPSECURITIES 3.5624•/9
Dallas. Texas
BERNARDI SECURITIES, INC. 3.59747.
Chicago, Illinois
Bid Tabulation July 24, 2023
City of Maplewood. Minnesota
S2.125.000s General Obligation Improvement Bonds, Series 2023A Page 2
July 24, 2023
City Council Meeting Minutes
17
No. R-
EXHIBIT B
FORM OF BOND
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF MAPLEWOOD
GENERAL OBLIGATION IMPROVEMENT BOND
SERIES 2023A
Date of
Interest Rate Maturity Date Original Issue CUSIP
February 1, 20 August 10, 2023 565557 _
Registered Owner: Cede & Co.
SO
The City of Maplewood, Minnesota, a duly organized and existing municipal corporation in
Ramsey County, Minnesota (the "City"), acknowledges itself to be indebted and for value received hereby
promises to pay to the Registered Owner specified above or registered assigns, the principal sum of
$ on the maturity date specified above, with interest thereon from the date hereof at the annual
rate specified above (calculated on the basis of a 360 day year of twelve 30 day months), payable February 1
and August 1 in each year, commencing August 1, 2024, to the person in whose name this Bond is registered
at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding
month. The interest hereon and, upon presentation and surrender hereof, the principal hereof are payable
in lawful money of the United States of America by check, draft, or wire by Bond Trust Services
Corporation, Roseville, Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and Authenticating
Agent, or its designated successor under the Resolution described herein. For the prompt and full payment
of such principal and interest as the same respectively become due, the full faith and credit and taxing
powers of the City have been and are hereby irrevocably pledged.
The City may elect on February 1, 2033, and on any day thereafter to prepay the Bonds due on or after
February 1, 2034. 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 The Depository Trust Company ("DTC") 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 ownership interests in such maturity to be redeemed.
Prepayments will be at a price of par plus accrued interest.
This Bond is one of an issue in the original aggregate principal amount of $1,945,000, all
of like original issue date and tenor, except as to number, maturity date, redemption privilege, and interest
rate, all issued pursuant to a resolution adopted by the City Council on July 24, 2023 (the "Resolution"),
for the purpose of providing money to defray the expenses incurred and to be incurred in making certain
assessable local improvements, pursuant to and in full conformity with the Constitution and laws of the
State of Minnesota, including Minnesota Statutes, Chapters 429 and 475, as amended, and the principal
hereof and interest hereon are payable in part from special assessments against property specially benefited
July 24, 2023
City Council Meeting Minutes
18
by local improvements and in part from ad valorem taxes for the City's share of the cost of the
improvements, as set forth in the Resolution to which reference is made for a full statement of rights and
powers thereby conferred. The full faith and credit of the City are irrevocably pledged for payment of this
Bond and the City Council has obligated itself to levy additional ad valorem taxes on all taxable property
in the City in the event of any deficiency in special assessments and taxes pledged, which additional taxes
may be levied without limitation as to rate or amount. The Bonds of this series are issued only as fully
registered Bonds in denominations of $5,000 or any integral multiple thereof of single maturities.
The City Council has designated the issue of Bonds of which this Bond forms a part as "qualified
tax-exempt obligations" within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as
amended (the "Code") relating to disallowance of interest expense for financial institutions and within the
$10 million limit allowed by the Code for the calendar year of issue.
As provided in the Resolution and subject to certain limitations set forth therein, this Bond is
transferable upon the books of the City at the principal office of the Bond Registrar, by the registered owner
hereof in person or by the owner's attorney duly authorized in writing, upon surrender hereof together with
a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner
or the owner's attorney; and may also be surrendered in exchange for Bonds of other authorized
denominations. Upon such transfer or exchange the City will cause a new Bond or Bonds to be issued in
the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest at
the same rate and maturing on the same date, subject to reimbursement for any tax, fee or governmental
charge required to be paid with respect to such transfer or exchange.
The City and the Bond Registrar may deem and treat the person in whose name this Bond is
registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose of receiving
payment and for all other purposes, and neither the City nor the Bond Registrar will be affected by any
notice to the contrary.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts, conditions
and things required by the Constitution and laws of the State of Minnesota, to be done, to exist, to happen
and to be performed preliminary to and in the issuance of this Bond in order to make it a valid and binding
general obligation of the City in accordance with its terms, have been done, do exist, have happened and
have been performed as so required, and that the issuance of this Bond does not cause the indebtedness of
the City to exceed any constitutional or statutory limitation of indebtedness.
This Bond is not valid or obligatory for any purpose or entitled to any security or benefit under the
Resolution until the Certificate of Authentication hereon has been executed by the Bond Registrar by
manual signature of one of its authorized representatives.
IN WITNESS WHEREOF, the City of Maplewood, Ramsey County, Minnesota, by its City
Council, has caused this Bond to be executed on its behalf by the facsimile or manual signatures of the
Mayor and City Manager and has caused this Bond to be dated as of the date set forth below.
Dated: 12023
CITY OF MAPLEWOOD, MINNESOTA
(Facsimile) (Facsimile)
Mayor City Manager
July 24, 2023
City Council Meeting Minutes
19
CERTIFICATE OF AUTHENTICATION
This is one of the Bonds delivered pursuant to the Resolution mentioned within.
BOND TRUST SERVICES CORPORATION
Authorized Representative
ABBREVIATIONS
The following abbreviations, when used in the inscription on the face of this Bond, will be
construed as though they were written out in full according to applicable laws or regulations:
TEN COM -- as tenants in common
TEN ENT -- as tenants by entireties
JT TEN -- as joint tenants with right of
survivorship and not as tenants in common
UNIF GIFT MIN ACT
Custodian
(crust)
(Minor)
under Uniform Gifts or Transfers to Minors
Act, State of
Additional abbreviations may also be used though not in the above list.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and does
hereby irrevocably constitute and appoint attorney to transfer the said Bond
on the books kept for registration of the within Bond, with full power of substitution in the premises.
Dated:
Notice: The assignor's signature to this assignment must correspond with the name as it
appears upon the face of the within Bond in every particular, without alteration or
any change whatever.
Signature Guaranteed:
July 24, 2023
City Council Meeting Minutes
20
NOTICE: Signature(s) must be guaranteed by a financial institution that is a member of the Securities
Transfer Agent Medallion Program ("STAMP"), the Stock Exchange Medallion Program ("SEMP"), the
New York Stock Exchange, Inc. Medallion Signatures Program ("MSP") or other such "signature guarantee
program" as may be determined by the Registrar in addition to, or in substitution for, STAMP, SEMP or
MSP, all in accordance with the Securities Exchange Act of 1934, as amended.
The Bond Registrar will not effect transfer of this Bond unless the information concerning
the assignee requested below is provided.
Name and Address:
(Include information for all joint owners if this Bond is
held by joint account.)
Please insert social security or other identifying
number of assignee
PROVISIONS AS TO REGISTRATION
The ownership of the principal of and interest on the within Bond has been registered on
the books of the Registrar in the name of the person last noted below.
Date of Registration
Registered Owner
Cede & Co.
Federal ID 413-2555119
Signature of
Officer of Registrar
July 24, 2023
City Council Meeting Minutes
21
EXHIBIT C
TAX LEVY SCHEDULE
Maplewood, Minnesota
$1,945,000 General Obligation Improvement Bonds, Series 2023A
Tax Levy Schedule
Tax
Tax
Bond
Levy
Collect
Pay
Year
Year
Year
Total P+I
Net New D/S
P & 1 @105%
Assessments
Net Levy
2022
2023
2024
-
-
-
-
-
2023
2024
2025
194,357.50
194,357.50
193,575.39
91,324.49
112,250.90
2024
2025
2026
184,950.00
184,950.00
194,197.50
91,324.49
112,973.02
2025
2026
2027
179,950.00
179,950.00
199,947.50
91,324.47
107,623.03
2026
2027
2029
194,950.00
194,950.00
194,197.50
91,324.49
112,873.02
2027
2029
2029
184,450.00
184,450.00
193,672-50
81,324.49
112,348.02
2029
2029
2030
183,700.00
183,700.00
192,895.00
$1,324.48
111,560.52
2029
2030
2031
182,700.00
1S2,700.00
191,935.00
S1,324.48
110,510.52
2030
2031
2032
181,450.00
181,450.00
190,522.50
S1,324.47
109,199.03
2031
2032
2033
179,950.00
179,950.00
188,947.50
$1,324.49
107,623.02
2032
2033
2034
193,200.00
183,00.00
192,360.00
S1,324.48
111,035.52
2033
2034
2035
iS2,400.00
182,400.00
191,520.00
S1, 24A
110,195.52
2034
2035
2036
181,400.00
181.400.00
190,470.00
S1,324.48
109,145.52
2035
2036
2037
180,200.00
180,200.00
199,210.00
$1,324.49
107,885.51
2036
2037
2038
183,800.00
183,800.00
192,990.00
$1,324.47
111,665.53
2037
2039
2039
1S2,000.00
iS2,000.00
191,100.00
S1,324.47
109,775.53
Total $2,739,457.50 S2,739,457.50 S2,876,430.38 S1r19,867.17 S1,656,563.21
Bond Data
Dated Date
Call Date
Seconded by Councilmember Juenemann Ayes — All
The motion passed.
J. NEW BUSINESS
1. Repeal of Catalytic Converter Ordinance
City Attorney Batty gave the staff report.
9/10/2023
2/01/2033
Councilmember Juenemann moved to approve the ordinance repealing section 24-60 of the
Maplewood city code pertaining to the sale, purchase or possession of catalytic converters.
Ordinance 1039
AN ORDINANCE REPEALING SECTION 24-60 OF THE
MAPLEWOOD CITY CODE REGARDING CATALYTIC CONVERTERS
THE CITY COUNCIL OF THE CITY OF MAPLEWOOD, MINNESOTA ORDAINS AS
July 24, 2023
City Council Meeting Minutes
22
K
L.
FOLLOWS:
Section 1. Repealer. Chapter 24, Article III of the city code is amended as follows: City code
section 24-60 is repealed in its entirety.
Sec. 24-60 — 24-85. Reserved.
Section 2. Effective Date. This Ordinance shall be effective August 1, 2023 following its
adoption and publication.
Seconded by Councilmember Lee
The motion passed.
AWARD OF BIDS
None
ADJOURNMENT
Mayor Abrams adjourned the meeting at 7:45 p.m.
a, t �� J,; " I �
Andrea Sindt, City Clerk
Ayes — All
July 24, 2023
City Council Meeting Minutes
23