99-8756r
13
RESOLUTION NO. 8756
RESOLUTION DETERMINING THE NECESSITY FOR THE ISSUANCE OF
GENERAL OBLIGATION BONDS AND CALLING A SPECIAL ELECTION THEREON
BE IT RESOLVED by the City Council of Richfield, Hennepin County, Minnesota
(City) as follows:
1. The City Council hereby finds and determines:
a. That it is in the best interests of the health, welfare, and safety of the City and its
residents that the City construct and equip a new recreation and community
center (Project); and
b. That the City is authorized by the provisions of Minnesota Statutes, Chapter 475
(Act) to issue its obligations to finance the Project in whole or in part and to
pledge its full faith, credit and taxing powers to the payment of such obligations;
c. That it is necessary and expedient to the sound financial management of the
affairs of the City that the Project be financed in whole or in part by the issuance
and sale of the City's general obligation bonds pursuant to the Act in an amount
not to exceed $9,500,000; and
2. The proposition for the issuance of the bonds will be submitted to the voters of the
City at a special election to be held on Tuesday, November 2, 1999. The election
will be held and conducted in accordance with the laws of the State of Minnesota
relating to special municipal elections and the City's home rule charter.
3. The City Clerk is directed to cause a notice of election or sample ballot, or both in
substantially the form attached hereto as Exhibit A to be posted and published as
required by law as follows:
a. The notice of election will be published once in the official newspaper of the City
at least two weeks prior to the election;
b. The notice of election and a sample ballot will be posted at each of the polling
places at least ten days prior to the election;
c. The notice of election and a sample ballot will be posted in the office of the City
Clerk at least four days prior to the election; and
d. The sample ballot will be published in the official newspaper at least one week
prior to the election.
4. The polling places, hours of election and the respective judges for the election will
be those established by the City for special elections. The polls will be open from
7:00 a.m. until 8:00 p.m.
5. The City Clerk is authorized and directed to prepare a reasonable supply of separate
paper ballots for the election to be printed on blue paper in substantially the following
form:
OFFICIAL BALLOT
SPECIAL ELECTION
CITY OF RICHFIELD
NOVEMBER 2, 1999
The City of Richfield is asking voter approval to issue and sell its general
obligation bonds in an amount not to exceed $9,500,000 to finance the construction and
equipping of a new recreation and community center.
The amount of taxes that would be raised in the first year of the property tax levy
to pay the principal and interest on the bonds is estimated to be approximately
$769,300. The maximum amount of taxes that would be raised in any subsequent year
for the purpose is estimated to be approximately $769,300. This maximum increase in
property tax levy is estimated to be approximately .05175% of the taxable market value
of property in the City.
CITY QUESTION NO.1:
CONSTRUCTION OF A NEW RECREATION AND COMMUNITY CENTER
Should the City of Richfield be authorized to issue and sell its General Obligation
Bonds in an amount not to exceed $9,500,000 to provide funds to construct and
equip a new recreation and community center?
BY VOTING "YES" ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A
PROPERTY TAX INCREASE.
YES
NO
(
(
)
)
INSTRUCTIONS TO VOTERS: Voters desiring to vote in favor of the foregoing
proposition shall make a cross mark (X) in the square opposite the word YES.
Voters desiring to vote against the foregoing proposition shall place a cross mark
(X) opposite the word NO.
6. The City Council will meet in the City Hall on November 8, 1999, at 7:00 p.m., C.T.
to canvass the results of the election and to declare the results thereof.
Adopted by the City Council of the City of Richfield, Minnesota this 23rd day of
August, 1999. . ..'., ,.' V.. (
0~t~
Martin J. Ki. , Mayor
ATTEST:
~~ RQ~
Thomas P. erber, City Clerk
EXHIBIT A
NOTICE OF SPECIAL ELECTION
CITY OF RICHFIELD
HENNEPIN COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that a special election will be held in and for the City
of Richfield, Hennepin County, Minnesota, on Tuesday, the 2nd day of November, 1999,
at which the following proposition will be submitted to the voters of the City for their
approval or rejection:
CITY QUESTION NO.1:
CONSTRUCTION OF A NEW RECREATION AND COMMUNITY CENTER
Should the City of Richfield be authorized to issue and sell its General Obligation
Bonds in an amount not to exceed $9,500,000 to provide funds to construct and
equip a new recreation and community center?
YES (~
NO (~
The polling place for said election are as follows:
[To be inserted when posted and published]
The polls for said election will be open at 7:00 am and will remain open until closing
at 8:00 p.m. Qualified registered voters of the City are entitled to vote at said
election, and qualified residents of the City not previously registered as a voter may
register on election day with proper identification.
BY ORDER OF THE CITY COUNCIL
Thomas Ferber
City Clerk