2026-07-28 Resolution 12443City of Richfield July 28, 2026
County of Hennepin
State of Minnesota
RESOLUTION NO. 12443
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Motion by: Hayford Oleary
Seconded by: Burk
ADOPTING A STREET RECONSTRUCTION PLAN AND
PROVIDING PRELIMINARY APPROVAL FOR THE ISSUANCE
OF STREET RECONSTRUCTION BONDS THEREUNDER
BE IT RESOLVED by the City Council of the City of Richfield, Minnesota (the “City”), as follows:
Section 1. Background.
1.01. The City is authorized under Minnesota Statutes, Section 475.58, subdivision 3b (the
“Act”) to prepare a plan for street reconstruction in the City over the next five years that will be financed
under the Act, including a description of the proposed work and estimated costs, and to issue general
obligation bonds to finance the cost of street reconstruction activities described in the plan.
1.02. Before the issuance of any bonds under the Act, the City is required to hold a public
hearing on the plan and issuance of the bonds.
1.03. Pursuant to the Act, the City, in consultation with its City engineer, has caused
preparation of a five-year street reconstruction plan (the “Plan”), which describes certain street
reconstruction activities in the City for the years 2027 through 2031. The reconstruction activities
described in the Plan for years 2026-2027 include, but are not limited to, the reconstruction of Nicollet
Avenue in the City (the “Project”).
1.04. The City has determined that it is in the best interests of the City to authorize the
issuance and sale of general obligation street reconstruction bonds (the “Bonds”) pursuant to the Act
in the maximum principal amount of $5,000,000, and any premium received by the City. The purpose
of the Bonds is to finance the costs of the Project as described in the Plan.
1.05. On this date, the City Council held a public hearing on the Plan and the issuance of the
Bonds, after publication in the City’s official newspaper of a notice of public hearing at least ten (10)
days but no more than twenty-eight (28) days before the date of the hearing.
Section 2. Plan Approved.
2.01. The City Council finds that the Plan will improve the City’s street system, which serves
the interests of the City as a whole.
2.02. The Plan is approved in the form on file in City Hall.
Section 3. Bonds Authorized.
3.01. The City is authorized to issue the Bonds in a maximum principal amount of $5,000,000,
in order to finance the Project described in the Plan. City staff, its municipal advisor, and its legal
counsel are authorized to take all actions needed to call for the sale of the Bonds, subject to the
contingency described in Section 3.02 hereof.
3.02. If a petition requesting a vote on the issuance of the Bonds, signed by voters equal to
five percent (5%) of the votes cast in the last municipal general election, is filed with the City Clerk
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within thirty (30) days after the date of the public hearing, the City may issue the Bonds only after
obtaining approval of a majority of voters voting on the question at an election. The authorization to
issue the Bonds is subject to expiration of the thirty (30) day period without the City’s receipt of a
qualified petition under the Act, or if a qualified petition is filed, upon the approving vote of a majority of
the voters voting on the question of issuance of the Bonds.
3.03. City staff are authorized and directed to take all other actions necessary to carry out the
intent of this resolution.
Adopted by the City Council of the City of Richfield, Minnesota this 28th day of July, 2026.
VOTING AYE VOTING NAY
Supple, Mary Supple, Mary
Burk, Walter Burk, Walter
Christensen, Sharon Christensen, Sharon
Coleman-Woods, Rori Coleman-Woods, Rori
Hayford Oleary, Sean Hayford Oleary, Sean
Mary B. Supple, Mayor
ATTEST:
Michelle Friedrich, City Clerk