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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 July 24, 2023 City Council Meeting Minutes 1 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 July 24, 2023 City Council Meeting Minutes 2 $ 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. July 24, 2023 City Council Meeting Minutes 3 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. July 24, 2023 City Council Meeting Minutes 4 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% July 24, 2023 City Council Meeting Minutes 5 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 July 24, 2023 City Council Meeting Minutes 6 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 July 24, 2023 City Council Meeting Minutes 7 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 July 24, 2023 City Council Meeting Minutes 8 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 July 24, 2023 City Council Meeting Minutes 9 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 July 24, 2023 City Council Meeting Minutes 10 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 July 24, 2023 City Council Meeting Minutes 11 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; July 24, 2023 City Council Meeting Minutes 12 (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