HomeMy WebLinkAboutResolution 2004-29 - Adopting Capitol Improvement Plan for the Issuance of Capitol Improvement Bonds CORCORAN, MINNESOTA
RESOLUTION NO. 2004-29
ADOPTING A CAPITAL IMPROVEMENT PLAN FOR THE
ISSUANCE OF CAPITAL IMPROVEMENT BONDS
WHEREAS, pursuant to Minnesota Statutes, Section 475.521 (the "Act"), cities are
authorized to adopt a capital improvement plan and carry out programs for the financing of capital
improvements,
WHEREAS, the City has on this date conducted a public hearing on a capital improvement
plan (the"Plan") in conformance with the requirements of the Act; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORCORAN, HENNEPIN COUNTY, MINNESOTA:
1. That the Plan is hereby in all respects approved.
2. That the staff of the City is hereby authorized to do all other things and take all other
actions as may be necessary or appropriate to carry out the Plan in accordance with any applicable
laws and regulations.
3. That City staff and consultants are authorized to negotiate the sale of capital
improvement bonds in the maximum principal amount of $350,000 (the "Bonds"), in order to
finance certain capital improvements described in the Plan. The Council will meet on Thursday,
May 27, 2004 to consider proposals on the Bonds and take any other appropriate action with respect
to the Bonds.
Adopted this 22nd day of April, 2004.
Mayor
City - dministrator
SJB-245823v1
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