20-027RESOLUTION NO. 20 - 027
CITY OF SHOREWOOD
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION CALLING A PUBLIC HEARING ON THE PROPOSAL TO ADOPT A
STREET RECONSTRUCTION PLAN AND THE INTENT TO ISSUE GENERAL
OBLIGATION STREET RECONSTRUCTION BONDS
WHEREAS, the City of Shorewood, Minnesota (the "City "), proposes that it is the best
interest of the City to issue and sell its general obligation street reconstruction bonds (the
"Bonds ") pursuant to Minnesota Statutes, Section 475.58, subdivision 3b, as amended (the
"Act "), to finance the cost of street reconstruction projects, as described in the proposed street
reconstruction plan described below, a copy of which will be on file in the City Administrator's
office by the time notice of the required public hearing is published; and
WHEREAS, pursuant to the Act, the City is authorized to issue and sell its Bonds to
finance street reconstruction projects following adoption of a street reconstruction plan after a
public hearing on the street reconstruction plan and on the issuance of the Bonds, subject to
certain limitations as provided in the Act; and
WHEREAS, pursuant to the Act, the City has undertaken to prepare a street
reconstruction plan covering the years 2020 through 2024, which describes the streets to be
reconstructed, the estimated costs and any planned reconstruction of other streets in the City,
including the issuance of Bonds under the Act (the "Plan "), to determine the funding strategy for
street reconstruction projects.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Shorewood,
Minnesota, as follows:
1. Public Hearing. The Council hereby determines to call for and to hold a public
hearing on the Plan and the issuance of Bonds thereunder at a meeting of the Council to be held
on May 11, 2020, commencing at approximately 7:00 p.m.
2. Publication. The staff of the City is hereby authorized and directed to cause a
notice of public hearing in substantially the form attached to this resolution to be published in the
City's official newspaper not more than 28 and not less than 10 days prior to the scheduled public
hearing date.
Adopted this 131h day of April, 2020.
Sco e ,Mayor
ATTEST:
Itit-i -DJVJAL-,,,-
Sandie Thone, City Clerk
NOTICE OF PUBLIC HEARING
ON THE PROPOSAL TO ADOPT A STREET RECONSTRUCTION PLAN AND THE
INTENT TO ISSUE GENERAL OBLIGATION STREET RECONSTRUCTION BONDS
Notice is hereby given that the City Council of the City of Shorewood, Minnesota, will
meet on May 11, 2020, at approximately 7:00 p.m. at City Hall, 5755 Country Club Road, in
Shorewood, Minnesota, for the purpose of conducting a public hearing on (a) the proposal to
adopt a street reconstruction plan covering the years 2020 -2024 and (b) the intent to issue
general obligation street reconstruction bonds in an amount not to exceed $18,230,681 to finance
the street reconstruction improvements described in the street reconstruction plan.
A draft copy of the street reconstruction plan is on file with the City Administrator and is
available for public inspection on the City's web site.
If a petition requesting a vote on the issuance of the general obligation street
reconstruction bonds is signed by voters equal to five percent of the votes cast in the last
municipal general election and is filed with the City Clerk within 30 days of May 11, 2020, the
City may issue the general obligation street reconstruction bonds only after obtaining the
approval of a majority of the voters voting on the question of the issuance of the general
obligation street reconstruction bonds.
PLEASE NOTE: Due to COVID -19, the public hearing may be conducted via telephone or
other electronic means as allowed under Minnesota Statutes, Section 13D.021. Please refer
to the City of Shorewood's website at www.ci.shorewood.mn.us or call City Hall at
952 960 -7900 to learn how to attend the public hearing via telephone or electronically, and
information pertaining to the petition process. Written comments may be submitted
electronically to the City Administrator at glerud @ci.shorewood.mn.us
STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF SHOREWOOD
I, the undersigned, being the duly qualified and acting City Administrator of the City of
Shorewood, Minnesota, DO HEREBY CERTIFY that I have compared the attached and
foregoing extract of minutes with the original thereof on file in my office, and that the same is a
full, true and complete transcript of the minutes of a meeting of the City Council, duly called and
held on the date therein indicated, insofar as such minutes relate to calling a public hearing on a
street reconstruction plan and the issuance of general obligation street reconstruction bonds.
WITNESS my hand on April 13, 2020.
City Admi ' trator