10-32EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL
CITY OF OTSEGO, MINNESOTA
HELD: August 23, 2010
Pursuant to due call and notice thereof, a regular or special meeting of the City Council of
City of Otsego, Minnesota, was duly called and held at the City Hall in the City of Otsego,
Minnesota on August 23, 2010, at 6:30 p.m. for the purpose, in part, of calling a public hearing on
the intention to issue general obligation capital improvement plan bonds and the proposal to adopt
a capital improvement plan therefor.
The following members were present:
and the following were absent:
Member HEIDNER introduced the following resolution and moved its adoption:
RESOLUTION 2010-32
RESOLUTION CALLING PUBLIC HEARING ON THE INTENTION TO ISSUE GENERAL
OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS AND THE PROPOSAL TO ADOPT
A CAPITAL IMPROVEMENT PLAN THEREFOR
A. WHEREAS, pursuant to Minnesota Statutes, Section 475.521 the City of Otsego,
Minnesota (the "City") may issue bonds to finance capital expenditures under its capital
improvement plan (the "Plan") without an election provided that, among other things, prior to
issuing general obligation capital improvement plan bonds (the "Bonds") the City adopts the Plan
after holding a public hearing thereon and publishing a notice of its intention to issue the Bonds
and the date and time of a hearing to obtain public comment on the issuance of the Bonds and
adoption of the Plan; and
B. WHEREAS, the City Council will hold a public hearing on September 13, 2010, on
its intention to issue the Bonds and to adopt the Plan; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Otsego,
Minnesota, that the City Council hereby calls for a public hearing on its intent to issue the Bonds
and to adopt the Plan, the public hearing to be held on the date and time set forth in Exhibit A
attached hereto. The City Clerk is hereby directed to cause the notice of public hearing to be
published at least 14 but not more than 28 days before the date of the public hearing in the official
newspaper of the City or a newspaper of general circulation in the City and further, the City Clerk
may post the notice of public hearing on the City's official website, if any, at least 14 but not more
than 28 days before the date of the public hearing.
The motion for the adoption of the foregoing resolution was duly seconded by member
SCHARBER and, after full discussion thereof and upon a vote being taken thereon, the
following voted in favor thereof. MAYOR STOCKAMP; CM HEIDNER, CM SCHARBER, CM DARENWALD
and the following voted against the same: NONE
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whereupon the resolution was declared duly passed and adopted.
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STATE OF MINNESOTA
COUNTY OF WRIGHT
CITY OF OTSEGO
I, the undersigned, being duly qualified and acting Clerk of the City of Otsego, 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 the City Council calling a public hearing on the intention to issue general
obligation capital improvement plan bonds and the proposal to adopt a capital improvement plan
therefor.
WITNESS my hand on August 23, 2010.
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Jar'n L. --M
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City Clerk