06-02-09 CC Agenda Packet
AGENDA
Regular Meeting
of the
City Council
Golden Valley City Hall
7800 Golden Valley Road
Council Chamber
June 2, 2009
6:30 p.m.
The Council may consider item numbers 1, 2, 3, 5 and 6
prior to the public hearings scheduled at 7:00 p.m.
1. CALL TO ORDER
A. Roll Call
2. ADDITIONS AND CORRECTIONS TO AGENDA
3. CONSENT AGENDA
Approval of Consent Agenda - All items listed under this heading are considered to be
routine by the City Council and will be enacted by one motion. There will be no
discussion of these items unless a Council Member or citizen so requests in which
event the item will be removed from the general order of business and considered in its
normal sequence on the agenda.
A. Approval of Minutes - Council/Manager Meeting - May 12, 2009
B. Approval of Check Register
C. Licenses:
1. Fireworks Permit - Melrose North Pyrotechnics, Inc. for Golden Valley Fire
Relief Association Street Dance
2. Solicitor's License - Brown Brother's Remodeling Inc.
3. Solicitor's License - Phillips Construction
D. Minutes of Boards and Commissions:
1. Board of Zoning Appeals - March 24, 2009
2. Environmental Commission - April 27, 2009
3. Envision Connection Project Board of Directors - April 23, 2009
4. Bassett Creek Watershed Management Commission - March 19, 2009
5. Joint Environmental Commission and Planning Commission - April 27, 2009
E. Authorization to Extend Fire Relief Association Street Dance Hours
F. Acceptance of Donation of Memorial Bench - General Mills Headquarters Nature
Preserve for Meredith Weimer Bender from Friends at General Mills 09-29
G. Acceptance of Donation - Golden Valley Federated Women's Club for Concerts in
the Park Series 09-30
H. Approval of Requests for Beer and/or Wine at Brookview Park
4. PUBLIC HEARINGS 7:00 PM
A. Public Hearing - Issuance of Revenue Note - WorkAbilities, Inc. 09-31 and 09-32
5. OLD BUSINESS
6. NEW BUSINESS
A. Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and
Providing for the Payment of $5,665,000 General Obligation Improvement Refunding
Bonds, Series 2009D 09-33
B. On-Sale, Off-Sale, Sunday Sale, Club, Wine On-Sale and Non-Intoxicating Malt
Liquor License Renewals
C. Announcements of Meetings
D. Mayor and Council Communications
7. ADJOURNMENT
GUIDELINES FOR PUBLIC INPUT
Copies of the agenda packet are available for public review before the Council Meeting: 1) on the City web site at
www.cLaolden-valley.mn.us; 2) at City Hall, City Manager's Office, from 8:30 am to 4:30 pm beginning the Friday before
the meeting; and 3) at the Golden Valley Library, Reference Desk, 830 Winnetka Avenue North. To receive an email
notification when the current agenda packet is available online, go to the City web site and sign up at
GV DirectConnect. If you wish to be placed on the mailing list to receive a paper copy of the agenda cover sheet, or if you
have any questions regarding the agenda, please call Judy Nally at 763-593-3991. All City Council meetings are broadcast
live on City Cable Channel 16 and replayed nightly at 6:30 pm. Meetings are also webcast live on the City web site, with
replays available on demand.
Comprehensive Plan Amendments. Conditional Use Permits. Rezonings. Planned Unit Developments (PUD).
Subdivisions (platting). and City Code Zoning Text Amendments
A. Pre-hearing Presentations:
1. Council will bring on the table for consideration.
2. Applicant will make presentation.
3. Planning Commission Member or Staff will present the Commission's recommendation.
B. Public Hearing:
1. The Mayormay ask people to identify how many wish to speak at the hearing.
2. If there are many people who wish to speak, the Mayor may set a time limit for statements. Groups are
encouraged to use spokespersons, who will be given longer for presentations.
3. Give full name and address clearly for the record when speaking.
4. Address all questions to the Mayor. The Mayor will then determine who will answer them. Questions will
be answered when all persons have had a chance to speak.
5. No one will be given an opportunity to speak a second time until everyone has had an opportunity to
speak initially. Please limit second presentation to new information and not rebuttals.
6. There will be no straw votes of people present. These are not helpful to the Council because they do not
reflect total community sentiment.
7. At the close of the public hearing, the Council will debate the issue.
Improvement Hearings
A. Pre-hearing Presentations:
1. Staff will describe proposed improvements.
2. Citizens petitioning for improvement will be asked to describe their request.
B. Public Hearing:
1. The same procedure will be followed as outlined above (B), except that voting for improvements requires
differing majorities for approval depending upon the circumstances of the project. The voting
requirements will be explained at the meeting.
Testimony at a public hearing is one additional form of information that the City Council considers when making a decision.
Your opinions, comments, and questions are welcomed and encouraged. Those persons unable to attend a meeting may send
written correspondence to the City Council at City Hall. The City Council needs your participation to make the best decision for
our community.
Hey
Mem randum
Finance
763-593-8013/763-593-8109 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. B. Approval of City Check Register
Prepared By
Sue Virnig, Finance Director
Summary
Approval of check register for various vendor claims against the City of Golden Valley.
Attachments
Loose in agenda packet.
Recommended Action
Motion to authorize the payment of the bills as submitted.
Public ~U~Y
Memorandum
Fire Department
763-593-8055 I 763-512-2497 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. C. 1. Fireworks Permit - Melrose North Pyrotechnics, Inc. for Golden Valley Fire Relief
Association Street Dance
Prepared By
Mark Kuhnly, Chief of Fire & Inspections
Summary
Melrose North Pyrotechnics, Inc. has requested permission to discharge aerial fireworks at
the Golden Valley Fire Relief Association Street Dance on June 20,2009. The Street Dance
will be held at the Chester Bird American Legion, 200 North Lilac Drive.
The location proposed for discharging the fireworks is on the Breck School baseball field.
Breck School has submitted a letter authorizing the use of their property.
The fireworks display company and the Golden Valley Fire Relief Association will be
responsible for cleaning up the debris from the fireworks.
Recommended Action
Motion to approve the fireworks display permit for Melrose North Pyrotechnics, Inc. to
discharge aerial fireworks at the Breck School baseball fields for the Golden Valley Fire Relief
Association Street Dance on June 20,2009.
Memorandum
City Administration/Council
763-593-8002 I 763-593-8109 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. C. 2. Solicitor's License - Brown Brother's Remodeling Inc.
Prepared By
Christine Columbus, Administrative Assistant
Summary
As per City Code, any individual or group intending to go door-to-door within the City selling
products, taking orders or soliciting for business or donations must be licensed by the City to
do so. This license period is from June 3, 2009 thru June 30, 2010.
Attachments
Peddler/Solicitor License Application (2 pages)
Recommended Action
Motion to approve the solicitor's license for Brown Brother's Remodeling Inc.
From:CITY OF BOLDEN VALLEY
783 593 8109
OS/21/2009 12:38
1088 P.002/003
Application and fee must be submitted to the City Manager's Office the Wednesday prior to the City
. Council Meeting. Council Meetings are normally held the first and third Tuesday of each month.
PEDDLER/SOLICITOR LICENSE APPLICATION
.
TO: Golden Valley City Council Fee Paid: $ '1 S- -f~ L{ <)
7800 Golden Valley Road Number of Persons q - .
Golden Valley. MN 55427 Type of ucense R"';ues~; So~
Enclose the sum of $-90.CO for -1:.- (number) peddlers/solicitors as required by City Code
of the City of Golden Valley and have complied with all the requirements of said Code necessary
for obtaining this license.
BiZt>hJ Vl B~-t-h e-rz '-s ~t:J ~e-lp1 cr J:Al6
(Business or Individual Name to be Licensed)
'() I t:J/b IIw ~Ie 0 /lle"M/1 b-611
(Address. inclu~'ita e and ZIP. Code). ,.... T
lf61- 330 -i-IOtp.- fCr3- z.ql- 31 '12-
(Telephone Number, inCIU~9 Area C()~e)~
NOW. THEREFORE, rote{'"" . ~-&r . hereby makes eppUcation for the
l (Applicant Name)
~ " 3/0 t' through ~OI~, subject to the conditions and provisions of said City Code.
~(S~~~) . .
Igna ure 0 pp Ican nnclpa cer
REQUIRED LICENSE INFORMATION
Applicant (if different from above):
Name
Address
(Include City, State and ~ip Code)
Telephone Number (including area code)
Date of Birth (if an individual)
Business Name of Applicant
Address
(Include City, State and Zip Code)
I.-LC- -::l t-1 ~ .
(Corporation, Proprietorship, Pa~nership, etc.; State of Incorporation)
Description of goods or services for sale (include prices) or indicate If soliciting donations. If more
space is needed, attach additional sheets (be specific): 5f.A..{ I ' ".' 61+\-5
vb ~.-f6 /' i2-Pve.-.A4errf' ' ~/dn?)
Define Business
~~
NOTE: If the prod~cts for "sal~ are changed or modified, you must give the City complete
From:CITY OF GOLDEN VALLEY
783 593 B109
OS/21/2009 12:39
BOBB P.003/003
If the Peddler or Solicitor is so engaged on behalf of an organization, supply:
Name of Organization
Address of Organization
(Include City, State and Zip Code)
Telephone Number (Including Area Code)
Define Business . L L- {'_
(Corporation, Proprietorship, Partnership, etc.; State of Incorporation)
List the names and addresses of EACH person who will be peddling or soliciting on behalf
of said organization in the City, or, in the alternative, the name, address and telephone
number or numbers where a responsible person of said organization will maintain a list of
names and addresses of all persons engaged in peddling or soliciting in the City:
i."BrzAbIGj ~(J~dH'h 1-?03.~TArM~ n'~~, M:Pls Mn-lPl2..-2J/-Z-I2b"'2f
~ {''.L>e.y-!1i'-6k.tJ1Al -ZOOO .A-~'{l AVe-VI ~,,:>olcfA-1 V*J/~ Mn-'7"3-<<f3~1L{qie
3.-rre~iJ./J~',s -:Z::7-~ ~ =-~6 ;'ff- i,':;"73b-'l2-'ifS
1.Av,~~-1Z.;3 __~j_.__.A4J1- r,;-~ /-3'_2-
(If more space is needed, attach additional sheets)
STATE OF (iJ IN !lJt5lf1ff' )
) ss.
~o~~_.~.
.of-~~~L~ar
(Name of Organization) /
being first duly sworn, depose and say that all the foregoing information is true to his/her own
knowledge except as to matters therein stated on information ~'!.. elief, and as to such matters,
/
he/she believes them to be true.
Subscribed and sworn to before me this
l~ day of f!tb( .2001
Cfr1dEE:~tLUy
JUDITH A. NALLY
NOTARY PUBLIC - MINNESOTA
My Commission Expires Jan. 31,2010
Hey
Memorandum
City Administration/Council
763-593-8002/763-593-8109 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. C. 3. Solicitor's License - Phillips Construction
Prepared By
Christine Columbus, Administrative Assistant
Summary
As per City Code, any individual or group intending to go door-to-door within the City selling
products, taking orders or soliciting for business or donations must be licensed by the City to
do so. This license period is from July 1, 2009 thru June 30, 2010.
Attachments
Peddler/Solicitor License Application (2 pages)
Recommended Action
Motion to approve the solicitor's license for Phillips Construction.
--*~
.
Application and fee must be submitted to the City Manager's Office the Wednesday prior to the City
Council Meeting. Council Meetings are normally held the first and third Tuesday of each month.
PEDDLER/SOLICITOR LICENSE APPLICATION
f)~
TO: Golden Valley City Council Fee Paid: $ O.
7800 Golden Valley Road Number. of Persons:
Golden Valley, MN 55427 Type of License Requested:
Enclose the sum of $ ~~.5-tor \ (number) peddlers/solicitors as required by City Code
of the City of Golden Valley and have complied with all the requirements of said Code necessary
for obtaining this license.
J-l e" rh 114 ~ ~ f I / Ph,l 1/05 {()nsl(tJc&D~
(Business or Individual Name to be LicenJed) if.
J.'J,....r; Jt>rJ&,"l r1-ve.. #)11) m.'''1''\eto'1K'1 vVI tV s-~~,o)
(Address, including City, State and Zip Code)
(~I;2.)))~ -/tJ~
(Telephone Number, including Area Code)
NOW, THEREFORE, N ("lot +~ (-/ l-t ~ ~ c I hereby makes application for the
? I ~ (Applicant Name)
period of - ,c) '1 through 6/30/~, subject to the conditions and provisions of said City Code.
~,-
(Signature of ApplicantIPrincipal Officer)
REQUIRED LICENSE INFOJ{MATION
Applicant (if different from above):
Name
Address
(Include City, State and Zip Code)
Telephone Number (including area code) (, [ J..) J). ~ -f ~ J h
Date of Birth (if an individual) '-/ -, 17 - 7 to
Business Name of Applicant ~'l \ \ l pC; r --t)^~ \-r(^~k1 C~,
Address ?-~:> 3d-1l.{)A.1'-' ~~ -t! ;;>-/d ..... fv\.+(~ tttrJ 55305
(Include City, State and Zip Code)
Define Business
1V\[.
(Corporation, Proprietorship, Pa~nership, etc.; state of Incorporation)
Description of goods or services for sale (include prices) or indicate if soliciting dQnations. If more
space is needed, attach additional sheets (be specific): rz, ~ 0 F 5 , : d " "')
NOTE: If the products for sale are changed or modified, you must give the City complete
information regarding such change or modification.
If the Peddler or Solicitor is so engaged on behalf of an organization, supply:
~\-lt^f) ~\-ru~/v\-1-~
V\i\ +~ VV\t0 s~ S--
(Include City, State and Zip Code)
Telephone Number (Including f\rea C9PEll '":)
76~- c.fLf ~ -~ / .2
Name of Organization
Address of Organization
Define Business
::J=() ~
(Corporation, Proprietorship, Partnership, etc.; State of Incorporation)
List the names and addresses of EACH person who will be peddling or soliciting on behalf
of said organization in the City, or, in the alternative, the name, address and telephone
number or numbers where a responsible person of said organization will maintain a list of
names and addresses of all persons engaged in peddling or soliciting in the City:
J-\~~ J-1-UV\A..M-e^-
~. J(Jeo~1'I A\J #- d-{ D
JI\.A--M<.u V1/11U 5 ~ sO-r-
~ ..l--
(If more space is needed, attach additional sheets)
STATE OF fY)1\\lrvfSbr1r )
) ss.
COUNTY OF }fiAJ/l!ffIV )
I, t\-ecL~ l+~~1
l (Officer/Individual)
of
rp~JtZil\ ~Y\S~u-o.A1-m1
(Name of Organization)
being first duly sworn, depose and say that all the foregoing information is true to his/her own
. knowledge except as to matters therein stated on information and belief, and as to such matters,
he/she believes them to be true. ~:
(Signature of Applicant/Principal Officer)
Subscribed and sworn to before me this
~. daQjJJ& ~ ' zOCJ1
(Signature) ~
../
JUDITH A. NALLY
NOTARY PUBLIC - MINNESOTA
My Commission Expires Jan. 31, 2010
Minutes of a Regular Meeting of the
Golden Valley Board of Zoning Appeals
March 24, 2009
A regular meeting of the Golden Valley Board of Zoning Appeals was held on Tuesday,
March 24, 2009 at City Hall, 7800 Golden Valley Road, Golden Valley, Minnesota. Vice
Chair Segelbaum called the meeting to order at 7 pm.
Those present were Members Kisch, Nelson, Segelbaum, and Planning Commission
Representatives McCarty and Waldhauser. Also present were City Planner Joe
Hogeboom and Administrative Assistant Lisa Wittman. Member Sell was absent.
I. Approval of Minutes - December 23, 2008
MOVED by McCarty, seconded by Nelson and motion carried unanimously to approve the
December 23,2008 minutes as submitted.
II. The Petitions are:
1532 Aquila Ave. N. (09-03-01)
Tim Harris, Applicant
Request: Waiver from Section 11.21, Subd. 19 Driveway Setback
Requirements
. 1 ft. off the required 3 ft. to a distance of 2 ft. at its closest point to
the side yard (south) property line.
Purpose: To allow for the construction of a new driveway.
Hogeboom stated that the applicant is proposing to build a conforming garage to the rear
of the existing home. Currently, there is no garage on this property. He explained that
when the home was originally built the driveway was constructed 2 feet away from the side
yard property line and the applicant would like to follow the same dimensions for the new
part of the driveway leading to the proposed new garage.
Hogeboom noted that there should have also been a variance on this agenda to allow the
applicant to construct a landing area larger than the 25 square feet allowed. The variance
request would be from 11.21, Subd. 11 (A). He referred to a survey of the property and
discussed the applicant's request for a 36 square foot landing and proposed new driveway
location.
Kisch asked about the side yard setback requirement for the deck shown on the survey.
Hogeboom said the setback requirement for the deck is 12.5 feet.
Minutes of the Golden Valley Board of Zoning Appeals
March 24, 2009
Page 2
Nelson asked about the size of the proposed landing. Hogeboom stated that the applicant
is asking for 11 square feet more than allowed so the size of the landing would be 36
square feet.
Waldhauser stated that she got the impression from the staff report that the variance for
the driveway would be temporary. Hogeboom clarified that the variances requested would
be permanent.
Kisch asked if there has been any discussion regarding the grading and drainage on this
property. Hogeboom explained that when the applicant applies for his driveway and
building permits the Public Works Department will review the grading and drainage on this
lot. He added that the applicant would not be allowed to go forward with his proposal if the
drainage doesn't work properly.
Steven Harris, representing the applicant, discussed the change in grade from the front to
the back of the lot. He also clarified that the applicant would like an additional 12 square
feet for the proposed landing area, not 11 square feet as mentioned earlier.
McCarty said the only concern he has with this request is the drainage. Harris stated that
the applicant does have a plan for the drainage issue.
McCarty asked Harris if the existing driveway will remain. Harris said the existing driveway
will remain in the same location but it will be resurfaced.
McCarty asked if the variance would only apply to the new portion of the driveway.
Hogeboom said yes. Kisch asked about the distance of the new portion of the driveway.
Nelson noted that the application states that the new portion is approximately 14 feet in
length.
Segelbaum referred to the survey and questioned the proposed jog in the new driveway.
Harris explained that the jog is being proposed because the applicant is trying to conform
with the 3-foot setback requirement where he can.
Kisch noted that the slope of the lot will affect how long the driveway will be and where it
will need to jog and it could also affect the drainage. Nelson stated that the location of the
proposed garage is also affecting where the driveway is proposed to be located and where
it will have to jog.
McCarty said he would be comfortable allowing the entire length of the driveway to be 2
feet away from the property line to allow some flexibility.
Segelbaum opened the public hearing. Seeing and hearing no one wishing to comment,
Segelbaum closed the public hearing.
Waldhauser said she is fine with the requested variances. She added that she doesn't
understand the Board's concern regarding the jog in the driveway and how that could
Minutes of the Golden Valley Board of Zoning Appeals
March 24, 2009
Page 3
affect the drainage. McCarty reiterated that he would be comfortable allowing the variance
along the entire length of the driveway and letting the applicant decide where it would best
to jog it if he needs to. Kisch agreed.
Segelbaum said he thinks this is a reasonable request and that the proposal won't have a
negative impact to surrounding neighbors.
Segelbaum asked the Board if they have any issues with allowing a larger landing area.
Kisch said he is comfortable with the proposed landing area. McCarty added he is also
fine with the proposed landing given the fact that a landing already exists in approximately
the same area. Nelson agreed and noted that the neighboring property has a similar
situation as what is being proposed by the applicant.
MOVED by Kisch, seconded by Nelson and motion carried unanimously to approve the
following variance requests.
. 1 ft. off the required 3 ft. to a distance of 2 ft. at its closest point to the side yard (south)
property line to allow for the construction of a new driveway.
. 12 sq. ft. more than the allowed 25 sq. ft. for a total of 37 sq. ft. of stairsllandings into
the side yard setback area to allow for the construction of a new landing.
III. Other Business
No other business was discussed.
IV. Adjournment
The meeting was adjourned at 7:25 pm.
Chuck Segelbaum, Vice Chair
Joe Hogeboom, Staff Liaison
GOLDEN VALLEY ENVIRONMENTAL COMMISSION
Regular Meeting
Minutes
April 27, 2009
Present: Commissioners Baker, Chandlee, Gitelis, Hill, and Stremel. Also present were
Jeannine Clancy, Director of Public Works; AI Lundstrom, Environmental
Coordinator; and Lisa Nesbitt, Administrative Assistant.
Absent: Commissioners Anderson and Pawluk
1. Call to Order
Stremel called the meeting to order at 7:00 pm.
2. Approval of Joint Meetina Minutes - March 23. 2009
MOVED by Hill, seconded by Baker, and the motion carried unanimously to approve the
minutes of the March 23, 2009 joint meeting.
3. Approval of Reaular Meetina Minutes - March 23. 2009
MOVED by Baker, seconded by Hill, and the motion carried unanimously to approve the
minutes of the March23, 2009 meeting.
Introduction of New Member Lynn Gitelis
Lynn lives near Regent and Golden Valley Rd. She is a member of the League of Women
Voters and the Citizen's League.
4. Mayor's Climate Protection Aareement (MCPA)
. MCPA Prooress Report
A. Measure ment - ICLEI is launching a software revision in May so the City will
wait for the updated version.
B. Educa tion Articles - nothing new.
C. Development Materials - nothing new.
D. Education Forum -Lundstrom attended Earth Day events at Colonnade and
Allianz buildings.
E. Green Team - the team is drafting ordinances regarding rain barrels, wind
generation and solar energy. Ordinance drafts will be provided to the
commission, for review, when completed.
5. Video "Green Cities: Leadina The Way"
The commission viewed and discussed the video.
6. By-Laws and Chair and Vice Chair Appointments
Due to the absence of Pawluk and Anderson, elections were tabled until next month.
Clancy believes that Pawluk is working on the annual report.
Minutes of the Environmental Commission
April 27, 2009
Page 2 of 2
6. Proaram/Proiect Updates
A. TMDL
i. Sweeney Lake - Load allocation process has started.
ii. Medicine Lake - In the modeling phase. Consultants are working with
the individual cities on the models.
iii. Wirth Lake - Just starting the project management phase.
iv. Minnehaha Creek and Hiawatha - no change.
B. III - Point of Sale inspections have increased. MCES recently won a national
award for their efforts to reduce III. A link to the article will be sent to the
commissioners.
C. Private Development Update - 6210 Wayzata Blvd. is requesting a PUD for
electric vehicles. Staff is meeting with developers interested in purchasing the
parcel adjacent to Good Day Cafe.
7. Commission Member Council Reports
None
8. Other Business
Baker sent Lundstrom information on recycling other materials (i.e. clam shell
packaging). Lundstrom will talk to Waste Management as time permits.
9. Adiourn
MOVED by Chand lee, seconded by Gitelis, and the motion carried to adjourn.
The meeting adjourned at 8:25 pm. The next scheduled meeting will be May 18, 2009 at
7:00 pm.
Envision Connection Project
Board of Directors Meeting Minutes
April 23, 2009
Present: Sharon Glover, Jim Heidelberg, Helene Johnson, Linda Loomis, Philip Lund,
Dean Penk, and Marshall Tanick
Absent: Blair Tremere and Luke Weisberg (GVCEF Representative)
Staff: Jeanne Andre
The meeting began at 7:00 pm in the Council Conference Room.
Approval of Minutes
PenklLund moved to approve the minutes of March19, 2009. Motion carried.
Discussion with Dick Crockett, Edina Community Foundation
Dick Crockett gave a history of the Edina Community Foundation, including its formation
as a joint City/School Foundation and the decision in 2000 to establish a separate
school foundation and an independent community foundation which he now serves as
half-time executive director. Its mission is: The Edina Community Foundation exists to
advance our community as a premier place for living, learning, raising families and
nurturing leadership through the development of a strong program of philanthropy.
Mr. Crockett gave an overview of non-profits, foundations and tax-exempt status that
allows donations to be tax-deductible. He explained that the Edina Foundation planned
to seek donations for an endowment, but has moved to a model based on soliciting
funds for programs and gradually building an endowment as it establishes its identity in
the community. He noted that the Edina Foundation also has designated funds which
collect funds and offer grants for specific uses such as children or public safety or for
specific organizations. He addressed written and oral questions presented by the group
and gave information on the Edina Community Foundation budget and operations.
Blair Tremere is still working on a draft mission statement, which will be a focus of
discussion at the next meeting.
Golden Valley Days 2009
Philip Lund reported that 19-20 organizations will be represented with community
groups. The May Pole will be part of the set up and he has identified an area adjacent to
the City Hall plaza to accommodate the additional groups. PRISM will also have a bus
and collect food for the food shelf. The groups to be represented include: Chester Bird
American Legion, Big Brothers - Big Sisters, Calvary Cooperative Housing, CAPSH
(Community Action Partnership of Suburban Hennepin), Say Yes to Chess, Friends of
the Golden Valley Library, Connection Project, Federated Women's Club, Rotary,
Women of Today, Step-To-It, Animal Humane Society, Learning Disabilities
Association, Northwest Hennepin Human Services Council, NW Suburban Optimists,
Northwest YMCA, PRISM, Historical Society and Park and Recreation.
The members signed up to work shifts in the Connection Project Booth. They will also
ask Bridge Builders to spend some time at the booth. Other suggestions were to have a
laptop with pictures of various Bridge Builder events, have buckets of sand to place
signs and buckthorn, have a lilac plant, and have handouts including the fall Bridge
Envision Connection Project
Board of Directors Meeting Minutes
April 23, 2009 - Page 2
Builder Training. Philip will put lettering on the pole to help identify the area. Jeanne
Andre will see if Jan Garfield will serve as hostess for the coffee area again.
Spring Bridge Builder Recruitment Meeting - The event was considered a success.
At the next meeting the group will do a recap and plan for the fall training session.
Future Meetings
The May meeting is rescheduled to Wednesday, May 20.
The meeting ended at 9:25 pm.
Jeanne Andre, Assistant City Manager
The Bassett Creek Watershed Management Commission (BCWMC) was called to order at 11:35 a.m.,
Thursday, March 19,2009, at Golden Valley City Hall by Chair Welch. Ms. Herbert conducted roll call.
Roll Call
Crystal
Golden VaHey
Medicine Lake
Minneapolis
Minnetonka
New Hope
Plymouth
Robbinsdale
St. Louis Park
Also present:
Commissioner Pauline Langsdorf, Secretary
Commissioner Linda Loomis
Not represented
Commissioner Michael Welch, Chair
Commissioner Kris Sundberg
Commissioner Daniel Stauner
Commissioner Ginny Black, Vice Chair
Alternate Commissioner Wayne Skora
Commissioner Manuel Jordan
Counsel
Engineer
Recorder
Charlie LeFevere
Len Kremer
Amy Herbert
Laura Adler, BCWMC Technical Advisory Committee, City of St. Louis Park
Derek Asche, BCWMC Technical Advisory Committee, City of Plymouth
Kevin Christian, Association of Medicine Lake Area Citizens and Plymouth resident
Terrie Christian, Association of Medicine Lake Area Citizens and Plymouth resident
Jeannine Clancy, BCWMC Technical Advisory Committee, City of Golden Valley
Craig Degendorfer, Plymouth resident
Linda Degendorfer, Plymouth resident
Jack Frost, Metropolitan Council
Dave Hanson, Alternate Commissioner, City of Golden Valley
Tom Mathisen, BCWMC Technical Advisory Committee, City of Crystal
Richard McCoy, BCWMC Technical Advisory Committee, City of Robbinsdale
Soo Stockhaus, Alternate Commissioner, City of Crystal
Liz Stout, BCWMC Technical Advisory Committee, City of Minnetonka
Elizabeth Thornton, Alternate Commissioner, City of Plymouth
Ms. Sundberg moved to approve the agenda. Ms. Black seconded the motion. The motion carried
unanimously [City of Medicine Lake absent from vote]. Chair Welch requested the removal of the
financial report from the Consent Agenda in order for the Commission to discuss the report during the
discussion of Agenda item 7A - BCWMC 2008 and 2009 Operating Budget Review. Ms. Loomis requested
the removal ofthe meeting minutes. Chair Welch stated the Commission could just dispense with this
month's Consent Agenda unless any commissioner objected. There were no objections.
#249239 vI
No citizen input on non-agenda items.
Page 1
BCWMC March 19, 2009 Meeting Minutes
A. Presentation of the February 19, 2009, BCWMC meeting minutes. Ms. Loomis stated that page 2
of the February 19, 2009, meeting minutes did not accurately reflect her intent to make the motion to
annotate the January 15, 2009, meeting minutes to convey corrected information and to also amend
the minutes as requested by Chair Welch and to approve the January 15,2009, minutes as amended.
Ms. Loomis moved to approve the February 19,2009, meeting minutes with those amendments. Mr.
Jordan seconded the motion. The motion carried unanimously.
B. Presentation of the Financial Statement. Discussed under Agenda item 7 A [City of Medicine Lake
absent from vote).
The general and construction account balances reported in the March 2009 Financial Report are
as follows:
Checking Account Balance
TOTAL GENERAL FUND BALANCE
693,947.50
693,947.50
Construction Account Balance
TOTAL CONSTRUCTION ACCOUNT BALANCE
-Less: Reserved for CIP projects
Construction cash! investments available for projects
2,902,812.39
2,902,812.39
3,636,141.12
(733,328.73)
C. Presentation of Invoices for Payment Approval.
Invoices:
i. Kennedy & Graven - Legal Services through January 31, 2009 - invoice for the
amount of $807.70.
ii. Barr Engineering Company - February Engineering Services - invoice for the
amount of $25,771.50.
iii. Barr Engineering Company - February Sweeney Lake TMDL Phase II
Services - invoice for the amount of $479.55.
iv. Amy Herbert - February Recording Administrator Services - invoice for the
amount of $3,055.05.
v. City of Golden Valley - Partial Reimbursement for Northwood East Sediment
Pond - invoice for the amount of $60,218.68.
vi. City of Golden Valley - Partial Reimbursement for Northwood East Sediment
Pond - invoice for the amount of $60,218.68.
vii. City of Plymouth - Reimbursement from Channel Maintenance Fund for
Plymouth Creek Fish Barrier repair - invoice for the amount of $ 38,823.35.
viii. Pauline Langsdorf - Reimbursement for Education Tabletop Exhibit Expenses
- invoice in the amount of 12.83.
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BCWMC March 19,2009 Meeting Minutes
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ix. Metro WaterShed Partners - 2009 Watershed Education Partnership - Invoice
in the amount of $5,000.
x. Three Rivers Park District - removed from invoices because invoice previously
paid
xi. Finance and Commerce - Public Communication of Public Hearing Notice-
invoice in the amount of $132.92.
xii. Sun Newspapers - Public Communication of Public Hearing Notice - invoice in
the amount of $321.75.
Chair Welch removed invoice x - Three Rivers Park District because staff reported it had already
been paid. Ms. Loomis moved to approve all of the remaining invoices. Mr. Stauner seconded the
motion. By call of roll, the motion carried unanimously [City of Medicine Lake absent from vote].
D. Contract with Hennepin County Environmental Services for 2009 River Watch Participation. Chair
Welch passed around to the commissioners a copy of the contract that contained two revisions from
the contract included in the meeting packet. The commissioners reviewed the revised copy. Ms.
Loomis moved to approve entering into the contract with Hennepin County Environmental Services
for the 2009 River Watch program. Mr. Stauner seconded the motion. The motion carried
unanimously [City of Medicine Lake absent from vote].
E. Review ofBCWMC CIP Reserve Account Policy and Balance. Chair Welch noted that the policy and
meeting minutes detailing the Commission's action to adopt the policy were included in the meeting
packet. Mr. Kremer said the estimated balance in the closed CIP project account is more than
$300,000. He said a more detailed accounting could be done to provide a more precise figure. Mr.
Kremer explained that it is difficult to provide a precise figure. He explained that over time payments
trickle in from Hennepin County's ad valorem assessment and also there can be projects that have
been completed but have maintenance components that extend out a few years so those
reimbursement requests extend over a number of years. Mr. Kremer said also there can be projects
like the Wirth Lake project that were partially completed a few years ago but due to issues the project
hasn't been totally finished and can't be closed out. Chair Welch asked if the Commission could take a
snapshot in time of the closed account balance before the Commission sets the levy request and then
base the levy request on that amount. Mr. Kremer said yes.
Chair Welch said the Commission does its best to levy exactly what the Commission needs to in order
to maintain the $250,000 CIP closed account balance but it is difficult to do because of lag times on tax
payments to the County and on reimbursement requests to the Commission for work on the CIP
projects.
Chair Welch commented that in the past reviews ofthe policy, the Commission had generally agreed
on the policy and the debate had centered on the amount of the account balance. Ms. Black stated that
she had some minor editorial changes to the policy and read her edits to the Commission.
Chair Welch asked the Commission if it wanted to keep item ill E in the policy ["Partial funding of
TMDL study costs if the Commission has sufficient information to determine with reasonable
assurance that the TMDL study will identify, plan, design, or redesign capital projects to be funded
with a County tax levy."] and continue to have two ways to fund TMDL studies or if the Commission
wants exclusively to use the funding that is moved from the Commission's Administrative Account
into the Construction Account for the TMDL studies.
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BCWMC March 19, 2009 Meeting Minutes
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Ms. Loomis responded that she's relnctant to change the policy because later on in the meeting the
Commission will be discussing a potential watershed-wide TMDL, which may be an appropriate use
for the funding described in item III E of the Closed Account policy. Chair Welch said he is inclined to
leave it in there because the Commission may end up wanting to fund TMDLs through that means
and also for purposes of clarity and transparency to the public it makes sense to clarify it in a policy.
Chair Welch said he wasn't hearing from the Commission any interest in substantive changes to the
policy or changes to the account balance set in the policy.
Ms. Black moved to approve the policy with the minor editorial changes to the policy that she
previously read to the Commission. Ms. Loomis seconded the motion. The motion carried
unanimously [City of Medicine Lake absent from vote].
Chair Welch stated that the BCWMC is holding this public hearing to receive public testimony and
comments of member cities regarding proposed improvements identified in the proposed minor plan
amendment to the BCWMC's Watershed Management Plan:
. Change to Crane Lake and Oak Knoll Pond Flood Elevations
. Change to Parkers Lake Water Quality Goal
. Restoration of Plymouth Creek (PC-I) from 26tb Avenue to Medicine Lake in the City of Plymouth
- estimated cost of improvement: $850,000
. Restoration of Plymouth Creek (PC-2) from 26th Avenue to 37th Avenue in the City of Plymouth -
estimated cost of improvement: $559,000
. Restoration of the Main Stem of Bassett Creek from Highway 100 to Regent Avenue - estimated
cost of improvement: $780,000.
Ms. Black moved to open the public hearing. Ms. Langsdorf seconded the motion. Mr. Kremer announced
that three changes need to be made to the draft letter to the Board of Water and Soil Resources included
in the meeting packet:
. The Main Stem project starts at the Crystal boundary upstream of llighway 100 (page 1 of letter)
. The total estimated cost of the three projects is $2,304,000 (page 2 of le<<er)
. Of that total estimated cost, the cost of the two Plymouth Creek projects is estimated to be
$1,524,000 (page 2 of letter)
Mr. Kremer explained that the revised costs include right-of-way costs, which weren't included in the
original project costs. Mr. Kremer said there is a 75-day review period on the minor plan amendment
request because Hennepin County requested 75-day review of projects in excess of a certain amount
[$500,000] and the Commission agreed to that request in the development of the Commission's Watershed
Management Plan. Mr~ Kremer said the Commission may not get the official response from Hennepin
County until June. He stated that the request will be reviewed by Hennepin County, the Metropolitan
Council, the Board of Water and Soil Resources, the member cities, and other agencies. Chair Welch said
that the Commission should clarify when it communicates to the Board of Water and Soil Resources that
the Commission is granting a 75-day review because of the Commission's agreement with Hennepin
County.
Mr. Asche of the City of Plymouth gave a presentation at the Commission's request and showed slides
about the proposed Plymouth Creek restoration project. Mr. Asche said the City of Plymouth held a
public meeting on the project on March 2, 2009. Mr. Asche described the problems resulting from the
erosion of the creek, the goals of the restoration project, the project timeline, erosion and sedimentation
1#249239 vI
BCWMC MlU"cb 19,2009 Meeting Minutes
Page 4
examples, and project funding. Mr. Asche said people can subscribe to an automatic e-mail update
service regarding the project, which is a good way to get news on the project.
Mr. Christian asked if it is possible for the construction to be done in a way that existing trees and plants
can remain. Mr. Asche responded that existing trees are tricky issues in creek restoration projects. He
explained that trees whose roots have been exposed have adapted to those conditions and likely wouldn't
survive if their roots were covered by dirt. He said the plan is to try to save as many existing trees as
possible but the worst case scenario is to try to save a tree that doesn't survive and the City has to come
back at a later date to try to fIx a dangerous situation. Mr. Asche said it will really depend on the
particular situation at each portion of the project. Chair Welch said also the reality is that equipment does
need to get down to the project site.
Mr. Degendorfer, a Plymouth resident along the Plymouth Creek, commented that when he built the
house around 25 years ago the creek behind their property was very small and now it is huge. He said
over the years two or three large trees have fallen into his property due to exposed roots from bank
erosion and that now the IS-feet high creek banks are getting close to eating into his property due to the
continued erosion. He and his wife spoke in support of the restoration project and commented the sooner
the better.
Ms. Christian said AMLAC (the Association of Medicine Lake Area Citizens) is very excited about the
project. She stated that 315 tons of total suspended solids enter Medicine Lake at Plymouth Creek each
year according to a Barr study done in 2000. Ms. Christian said she is speaking on behalf of AMLAC for
getting the project started and done.
Chair Welch asked Mr. Asche about his confIdence in the cost estimate. Ms. Black responded to the
question and said currently costs are coming in 20% - 25% under estimated costs. Ms. Black said
hopefully the project cost estimate will be right on target, but the unknowns of the economy and the
stimulus package could affect the cost especially since the project's construction doesn't happen until
2010. Mr. Asche said he is comfortable with the estimated project cost with the exception of the wetland
mitigation costs, which are always a wild card and diffIcult to predict.
Ms. Black moved to close the public hearing. Mr. Jordan seconded the motion. The motion carried
unanimously.
A. Mr. LeFevere clarifIed that this public hearing is a technical requirement to qualify the
amendment as a minor plan amendment and to approve it to send out for comments.
Ms. Black said the letter doesn't provide a timetable of the projects' estimated construction dates.
Mr. Kremer responded that the construction dates aren't relevant to BWSR or Hennepin County
because the dates are a matter for the Commission and the cities to decide. Mr. LeFevere said the
important piece for the Commission is getting the projects on the CIP because changing the year
of construction of a CIP project doesn't require a minor plan amendment which gives the
Commission flexibility with dates.
Ms. Black remarked that the project cost listed for the Bassett Creek Main Stem restoration
project does not include wetland mitigation costs and reminded the Commission that mitigation
could add $100,000 or more to the project cost.
Ms. Loomis moved to approve staff sending out the minor plan amendment request to the proper
reviewing bodies as listed in the March 9, 2009, Engineer's Memo. Mr. Jordan seconded the
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BCWMC March 19,2009 Meeting Minutes
Page 5
motion [City of Medicine Lake absent from vote}.
B. Watershed-wide TMDL. Chair Welch stated that the MPCA held a meeting regarding
watershed-wide TMDLs and that Mr. Kremer attended the meeting. Chair Welch reminded the
Commission that the meeting packet contained a memo dated March 9, 2009, regarding a TMDL
study for the remaining Bassett Creek watershed impairments.
Mr. Kremer stated thatthe MPCA wants to complete the TMDLs and all ofthe impairments on a
watershed-wide basis rather than handling each TMDL study on an individual basis due to cost
and time advantages. Mr. Kremer said the purpose of the MPCA's meeting was to encourage
watershed management districts and watershed management organizations to proceed with the
completion of all the impairments on a watershed-wide basis. He said two watersheds are in the
process of completing all the rest of their impairments on a watershed-wide basis: Elm Creek
Watershed Management Organization (WMO) and Minnehaha Creek Watershed District.
Mr. Kremer said Elm Creek is working with the MPCA and has a five-year project to address all
of their impairments. He reported that the estimated cost of the project is about $500,000, of
which $150,000 will be paid by the MPCA and the rest of the cost will be paid by the Three Rivers
Park District and the Elm Creek WMO. Mr. Kremer said the Minnehaha Creek Watershed
District is conducting a watershed-wide TMDL and is participating with the MPCA and the
Environmental Protection Agency. He said the cost ofthe project is approximately $160,000 and is
being shared 50-50 between the MPCA and the EP A. .
Mr. Kremer said there are three existing impairments in the Bassett Creek watershed: fish and
fecal coliform for Bassett Creek and nutrients for Northwood Lake. Mr. Kremer said he suspects
that in the next couple years Bassett Creek will be listed as impaired for chlorides and by 2011 a
phosphorus impairment may need to be addressed, meaning that the watershed-wide TMDL may
be addressing up to five impairments or more if additional years of data from watershed lakes
show three years of impairment. Mr. Kremer said if the Commission is interested in pursuing the
watershed-wide TMDL, it would prepare a scope of work for the TMDL to address all existing
impairments and would be eligible for funding in 2011.
Mr. Kremer said that Ramsey Washington and Coon Creek is setting up a meeting with the EPA
to see how the TMDL process can be made simpler and he said he thinks that meeting likely will
be set up in the next six months.
Chair Welch suggested having someone from Elm Creek WMO or Minnehaha Creek Watershed
District come to speak about their experience with the watershed-wide TMDL. Mr. Kremer
commented that he thought the Minnehaha TMDL would be more similar to the kind of TMDL
the BCWMC would develop and so he suggested that the Commission have either someone from
Minnehaha Creek or a project manager from the MPCA come to speak to the Commission.
Mr. Skora asked what the Commission's timeframe should be if it wants to be eligible for MPCA
funding. Mr. Kremer said the Commission would want the scope developed in 2010 and that the
MPCA would want to know within the next six months that the Commission is interested in doing
the watershed-wide TMDL and then the MPCA may set aside some funding for it. Ms. Black
recommended that the TMDL and cost be part of this May's 2010 operating budget discussion.
Chair Welch directed staff to contact the MPCA or the Minnehaha Watershed District.
#249239 vI
BCWMC March 19, 2009 Meeting Minutes
Page 6
A. BCWMC 2008 and 2009 Operating Budget Review. Ms. Loomis presented an overview of the
fiscal year-end report. Chair Welch noted that the Commission spent $102,000 less than it
budgeted and commented that the Commission needs to hit its mark better than that going
forward. Chair Welch directed Ms. Herbert to send the fiscal year-end 2008 final financial report
in the April meeting packet as background information as commissioners consider what changes
should be made for the 2010 Operating Budget, which will be discussed at the April Commission
meeting. By consent the Commission approved to receive and file the March 2009 financial report.
B. 2009 CAMP (Citizen-Assisted Monitoring Program) Participation. Ms. Loomis noted that
no one has volunteered to sample South Rice Lake in Golden Valley for the 2009 sampling season.
Chair Welch moved to approve participating in the Metropolitan Council Environmental Services
CAMP program for the following four lakes at the cost to the BCWMC of $550 per lake:
Northwood Lake, Parkers Lake, Sweeney Lake, and Westwood Lake. Ms. Black seconded the
motion. The motion carried unanimously [City of Medicine Lake absent from vote]. Chair Welch
stated that the Commission could take action at another meeting to add South Rice Lake if a
volunteer is found.
C. T AC Recommendations. Mr. Jordan was the Commission liaison at the March 5, 2009, T AC
meeting and gave a summary of the four items discussed at the meeting. He also recommended
commissioners attend at least one TAC meeting for the learning experience.
i. 2009 Watershed Tour. The TAC's recommendations for the watershed tour will be
discussed at the April BCWMC meeting.
ii. Cities' Permit Approval Processes and 60-day Review Period and how they
integrate with the BCWMC's Review Processes. Chair Welch recommended that the
Commission either form an ad hoc committee to work over a specific period of time with
the TAC to bring back recommendations to the Commission and or work with Mr.
LeFevere to structure the review period process appropriately.
Chair Welch said there is a statutory provision that decisions on land use resources and
zoning issues need to be made within 60 days. He said that in his opinion the Commission
is not clearly granted a separate review of 60 days because the Commission is not a
separate permitting entity. Chair Welch said the Commission gives advisory opinions tied
to the member cities. He said the issue of the Commission's approval is addressed in the
Commission's Watershed Management Plan but not in the Joint Powers Agreement. Chair
Welch stated he thinks there should be more definition on how the Commission's review
functions, who is tracking the 60 days, and within whose 60 days falls the Commission's
review. He said right now everyone is not on the same page regarding project reviews but
everyone ought to be.
Mr. LeFevere recommended that he, Chair Welch, and any interested TAC member, talk
with Mr. Herbert at Barr Engineering regarding how the 60 days are tracked by the
Commission and then they can develop a recommendation for the Commission. The
Commission agreed to Mr. LeFevere's recommendation.
[Commissioner Sundberg departs.]
ill. BCWMC's Water Quality Goals for all Waterbodies in Watershed. Chair Welch
stated that the recommendation in the March 12,2009, TAC memo was that the
BCWMC's water quality goals should align with the State of Minnesotal MPCA goals and
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BCWMC March 19, 2009 Meeting Minutes
Page 7
that as TMDLs are completed, water quality goals should get adjusted as ueeded. He
stated the T AC also recommended that the Commission set a no-degradation! anti-
degradation goal for BCWMC waterbodies and that the Commission should put the new
water quality goals in place in the Commission's next generation Watershed Management
Plan. Mr. Kremer stated he thinks aligning the Commission's goals with the state's goals
makes sense because if the Commission has a significantly higher goal and isn't meeting
that goal then the Commission could potentially have a lot of negative exposure.
iv. Water Quality Modeling and Funding. Mr. Kremer said the MPCA has been bouncing
ideas off of cities and has been looking for feedback as the MPCA works on the Lake
Pepin TMDL implementation plan. He said one idea is that a new MS4 stormwater permit
provision would require cities to monitor water quality and to maintain water quality
models that would document their progress toward achieving the reductions required by
the Lake Pepin plan. He said the T AC recommends the BCWMC keep water quality
models up-to-date so they can be used by the member cities to comply with future TMDL
and MS4 permit requirements. Chair Welch said he thinks a watershed basis for models
makes the models better and is a good service for the BCWMC to provide to the cities. Mr.
LeFevere noted that the T AC recommended the Commission send letters to cities asking
for a status report on the cities' progress toward amending their official controls and he
suggested that he and Chair Welch draft the letter. The Commission agreed to Mr.
LeFevere's suggestion.
D. BCWMC Missions and Goals. Deferred to April meeting.
E. Medicine Lake TMDL Study Update. Chair Welch said there was a stakeholder meeting last
week and there was a lot of discussion about modeling and the project is waiting for numbers to
come out of the modeling process. He said there has also been a lot of discussion about what
criteria will be used in the load allocation process and what fairness in terms of load allocation
means to each of the stakeholders. Chair Welch announced that the next Medicine Lake
stakeholder meeting will be held on April 9th.
F. Recommendations for BCWMC's Web Site. Ms. Langsdorf said the Education and Outreach
Committee recommends the Commission revise the links page to organize the links under
categories and provided category names to use on the page. Chair Welch made the motion that
Ms. Herbert to make the revisions as discussed and as outlined in the Education and Outreach
Committee's memo in the meeting packet. Ms. Black seconded the motion. The motion carried
unanimously [Cities of Medicine Lake and Minnetonka absent from vote].
A. Chair:
i. Chair Welch reported that he has asked Ms. Herbert to work with Ms. Chandler of Barr to
draft an introduction or executive summary to the BCWMC's annual report that is formatted
as a summary of the Commission's activities over the year.
ii. Chair Welch stated that information just came in from Brooke Asleson of the MPCA stating
that SEH, Inc. is over budget in some aspect of the Phase II Sweeney Lake TMDL work but
that he doesn't have any details at this time. Mr. Kremer said he thinks it is a
misunderstanding. Mr. LeFevere recommended the Commission encourage SEH and MPCA
to discuss the issue and that the Commission could add to its April meeting agenda an update
on the Sweeney Lake TMDL project budget.
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BCWMC Mardl.19. 2009 Meeting Minutes
Page 8
B. Commissioners: No Commissioner Communications.
C. Committees:
i. Budget: Chair Welch suggested the Budget Committee meet in April prior to the April 16th
BCWMC meeting and directed Ms. Herbert to coordinate a meeting date with the Committee
members.
n. Education: Ms. Langsdorf reported that she and Ms. Thornton represented the BCWMC at
the Plymouth Environmental Quality Fair. She announced that the Commission will have a
booth at the Plymouth Yard and Garden Expo on April 4th and 5th. Ms. Langsdorf stated that
the Crystal Environmental Quality Committee would be viewing the Commission's education
exhibit that evening. She announced the Education Committee will be meeting on April 7th at
8:30 a.m. at Golden Valley City Hall.
Hi. Administrative Services: Chair Welch reported that at its last meeting the Committee
discussed the BCWMC's missions and goals. He stated that the Committee plans to schedule
another meeting in order to discuss BCWMC's administrative needs and would like Ms.
Herbert to attend the meeting to discuss taking on some administrator-oriented tasks.
D. Counsel*
E. Engineer:
i. Mr. Kremer said the BCWMC received a letter this week from the Hennepin Conservation
District regarding a Hennepin County Conservation Forum to be held on April 9, 2009, as an
opportunity for all WMOs and watershed districts in Hennepin County to discuss conservation
issues regarding land and water resources in Hennepin County and also the potential impact
of the Clean Water, Land, and Legacy Amendment on conservation activities in Hennepin
County. He said Hennepin County wants to organize all of the WMOs in the County to submit
their conservation projects over the next five years as a group. Mr. Kremer said HCD wants to
coordinate the efforts of the various groups that are going to allocate Clean Water Legacy and
Heritage Fund monies toward funding these projects so that more money from those sources
can be focused on projects in Hennepin County. Mr. Kremer said the HCD is requesting by
March 27th a list of the BCWMC's priorities for the next five years and what conservation
issues the BCWMC thinks need to be addressed in Hennepin County.
Chair Welch recommended the Commission respond to the HCDwith a letter stating that the
Commission may be interested but the Commission's timeline did not allow appropriate
consideration of the matter before the HCD's deadline. Mr. Kremer recommended that
someone from the Commission attend the meeting. Ms. Black volunteered to attend the
meeting on the Commission's behalf. Chair Welch said he would like the Commission
Engineer to attend and stated that he would also try to attend. Chair Welch asked Ms. Herbert
to e-mail him a copy of the letter from the HCD.
n. Mr. Kremer announced that Hennepin County introduced legislation yesterday, SF 1673,
asking for appropriation of $1,250,000 in fisCal year 2010 to assist WMOs and watershed
districts in Hennepin County to restore water quality and to do stream restoration.
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BCWMC Marc:h 19,2009 Meeting Minutes
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Ms. Black moved to adjourn the meeting. Ms. Loomis seconded the motion. The meeting adjourned at
2 :35 p.m.
Michael Welch, Chair
Date
Amy Herbert, Recorder
Date
Pauline Langsdorf, Secretary Date
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BCWMC March 19, 2009 Meeting Minutes
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Joint Meeting of the
Golden Valley Environmental Commission and Planning Commission
April 27, 2009
A joint meeting of the Environmental Commission and Planning Commission was held at
the Golden Valley City Hall, Council Conference Room, 7800 Golden Valley Road, Golden
Valley, Minnesota, on Monday, April 27, 2009. Environmental Commissioner Jim Stremel
and Planning Commissioner Chair Don Keysser called the meeting to order at 6:03 pm.
Those present were, Environmental Commissioners Baker, Chand lee, Gitelis, Hill, and
Stremel; Planning Commissioners Cera, Eck, Keysser, Kluchka, Schmidgall and
Waldhauser; Also present was Director of Public Works Jeannine Clancy, Environmental
Coordinator AI Lundstrom, Public Works Specialist Eric Eckman, Director of Planning and
Development Mark Grimes, City Planner Joe Hogeboom, and Administrative Assistant Lisa
Nesbitt.
Those absent were, Environmental Commissioners Anderson and Pawluk and Planning
Commissioner McCarty.
Staff presented a draft of the Storm Water Management Ordinance. The draft ordinance is an
expansion of the existing Grading, Drainage and Erosion Control ordinance with a new
name. The goal of the expansion is to 1) better define the scope of the ordinance to provide
permitting for more typical land disturbing activities; 2) meet requirements for the Bassett
Creek Watershed Management Commissions Second Generation Plan; and 3) meet the
requirement of the City's National Pollution Discharge and Elimination System (NPDES)
Phase II Federal Permit.
Lundstrom outlined the six primary additions to the ordinance.
1. Expanded scope or "activities requiring a permit". The additions to the ordinance
include land disturbing activities over 4,000 sq. ft., modifications of foundation walls
and retaining walls, cutting, filling, hauling or storage of more than 30 cubic yards of
material, construction or modification of parking lots or storm water BMPs and land
disturbing activities within floodplains, shorelines or creek banks. Discussions on this
point included clarification of rain gardens, past permitting practices for retaining walls,
the reason for the name change and parking lot modifications.
2. Added a lowest floor elevation requirement for structures that are proposed to be
located adjacent to wetlands, basins and storm water management ponds. The
Planning Commission may change the zoning code to include a height limitation for
new construction. Staff will investigate the changes to the ordinance and review
potential conflicts with the height limitations.
3. Added a minimum 25-foot setback requirement for new principal structures located
adjacent to wetlands and stormwater management ponds. There are no conflicts
with the current zoning code.
Minutes of the Golden Valley Environmental Commission/Planning Commission
April 27, 2009
Page 2
4. Added a minimum 10-foot natural buffer requirement around new or existing
wetlands and storm water ponds for new development, redevelopment or any
building expansion by 10 percent or greater. It was suggested that buffer strip be
defined in the definitions. The benefits of natural buffers can be outlined in CityNews
articles as a means of education.
5. Added an illegal disposal and illicit discharge component as per NPDES Phase /I
requirements. By adding the language the City meets one of the final BMP
requirements.
6. Identified responsibility for private property storm water drainage. This was formerly
known as the back yard drainage policy, in practice. By adding it to the ordinance it
formalizes the policy. Staff was asked if sub-division language should be added
include or cross-reference the subdivision ordinance. Staff will check with the City
attorney.
No action is required by either Commission.
The meeting was adjourned at 6:55 pm.
Memorandum
Fire Department
763-593-8079 I 763-593-8098 (fax)
Executive Summary for Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. E. Authorization to Extend Fire Relief Association Street Dance Hours
Prepared By
Mark Kuhnly, Chief of Fire & Inspections
Summary
The Golden Valley Fire Relief Association is requesting permission to extend the street dance
hours until midnight on Saturday, June 20,2009. The Street Dance will be held at the
Chester Bird American Legion, 200 North Lilac Drive.
Recommended Action
Motion to approve the extension of hours for the Golden Valley Fire Relief Association Street
Dance to midnight on Saturday, June 20, 2009.
alley
M morandum
Park and Recreation
763-512-2342/763-512-2344 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. F. Acceptance of Donation of Memorial Bench - General Mills Headquarters Nature
Preserve for Meredith Weimer Bender from Friends at General Mills
Prepared By
Rick Jacobson, Director of Parks and Recreation
Summary
As adopted in the Donation/Gift Policy, a gift of real or personal property must be accepted by
the City Council by resolution and be approved by a two-thirds majority of the Council. A cash
donation must be acknowledged and accepted by motion with a simple majority. Friends of
Meredith Weimer Bender have donated $550 for a memorial bench. The bench will be
located along the trail on the east end of the General Mills Nature Preserve.
Attachments
Resolution Accepting Donation for Memorial Bench for Meredith Weimer Bender from Friends
at General Mills for General Mills Headquarters Nature Preserve (1 page)
Recommended Action
Motion to adopt Resolution Accepting Donation for Memorial Bench for Meredith Weimer
Bender from Friends at General Mills for General Mills Headquarters Nature Preserve.
Resolution 09-29
June 2, 2009
Member
introduced the following resolution and moved its adoption:
RESOLUTION ACCEPTING DONATION FOR MEMORIAL BENCH FOR
MEREDITH WEIMER BENDER FROM FRIENDS AT GENERAL MILLS
FOR GENERAL MILLS HEADQUARTERS NATURE PRESERVE
WHEREAS, the City Council adopted Resolution 04-20 on March 16,2004 which
established a policy for the receipt of gifts; and
WHEREAS, the Resolution states that a gift of real or personal property must be
accepted by the City Council by resolution and be approved by a two-thirds majority of the
Council. A cash donation must be acknowledged and accepted by motion with a simple
majority.
NOW, THEREFORE, BE IT RESOLVED that the City Council accepts the following
donations:
$550 for purchase and placement of bench in General Mills Headquarters Nature
Preserve for Meredith Weimer Bender from Friends at General Mills
Linda R. Loomis, Mayor
ATTEST:
Susan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
and upon a vote being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.
alley
Memorandum
Park and Recreation
763-512-2342/763-512-2344 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. G. Acceptance of Donation - Golden Valley Federated Women's Club for Concerts in the
Park Series
Prepared By
Rick Jacobson, Director of Parks and Recreation
Summary
As adopted in the Donation/Gift Policy, a gift of real or personal property must be accepted by
the City Council by resolution and be approved by a two-thirds majority of the Council. A cash
donation must be acknowledged and accepted by motion with a simple majority. The Golden
Valley Federated Women's Club has donated $800 for the Concerts in the Park Series.
Attachments
Resolution Accepting Donation from Golden Valley Federated Women's Club for Concerts in
the Park Series (1 page)
Recommended Action
Motion to adopt Resolution Accepting Donation from Golden Valley Federated Women's Club
for Concerts in the Park Series.
Resolution 09-30
June 2, 2009
Member
introduced the following resolution and moved its adoption:
RESOLUTION ACCEPTING DONATION FROM
GOLDEN VALLEY FEDERATED WOMEN'S CLUB
FOR CONCERTS IN THE PARK SERIES
WHEREAS, the City Council adopted Resolution 04-20 on March 16,2004 which
established a policy for the receipt of gifts; and
WHEREAS, the Resolution states that a gift of real or personal property must be
accepted by the City Council by resolution and be approved by a two-thirds majority of the
Council. A cash donation must be acknowledged and accepted by motion with a simple
majority.
NOW, THEREFORE, BE IT RESOLVED that the City Council accepts the following
donations:
$800 from Golden Valley Federated Women's Club for Concert in the Park Series
Linda R. Loomis, Mayor
ATTEST:
Susan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
and upon a vote being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.
alley
Memorand m
City Administration/Council
763-593-8006/763-593-8109 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
3. H. Approval of Requests for Beer and/or Wine at Brookview Park
Prepared By
Judy Nally, Administrative Assistant
Summary
As per City Code Section 10.83, Subd. 2 I. "No person shall possess, display, consume or
use alcoholic beverages on any City park property, unless permission is granted by the
Council." As part of the application process for a Facilities Use Permit to use the large and
small picnic shelters at Brookview Park the applicant has the option to pay an additional $10
to be able to serve beer and/or wine. Attached is a list of the individuals and/or organizations
who have requested that option.
Attachment
Beer and/or Wine Request List (1 page)
Recommended Action
Motion to approve the requests for beer and/or wine at Brookview Park as recommended by
staff.
INDIVIDUAL OR ORGANIZATION
Dora Pina
General Mills
Digineer
Provell
Eye Care Associates
Twin Cities Uncorked
DCM Services
DCM Services
Warren Djerf
Andrea Leet
BEER AND/OR WINE REQUEST LIST
DATE
06-14
06-15
06-25
07-16
07-21
07-23
07-31
07-31
08-14
08-29
TIME
5 pm - dusk
11 am - dusk
5 pm - dusk'
11 am - 4 pm
5 pm - dusk
5 pm - dusk
5 pm - dusk
11 am - dusk
5 pm - dusk
5 pm - dusk
NUMBER
IN
GROUP
30
50
70
45
75
60
150
150
50
50
SHELTER
small
small
large
large
large
large
large
small
large
small
BEER OR WINE
beer & wine
beer & wine
beer & wine
beer & wine
beer & wine
beer & wine
beer & wine
beer & wine
beer & wine
beer & wine
CC
DATE
APPROVED
06-02-09
06-02-09
06-02-09
06-02-09
06-02-09
06-02-09
06-02-09
06-02-09
06-02-09
06-02-09
alley
Memorandum
Finance
763-593-8013/763-593-8109 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
4. A. Public Hearing - Issuance of Revenue Note - WorkAbilities, Inc.
Prepared By
Sue Virnig, Finance Director
Summary
WorkAbilities, Inc. has requested that the City hold a public hearing on June 2, 2009 to
approve a resolution giving preliminary approval to the project and a resolution authorizing
the sale of a revenue note. The City is required by the IRS Code and by Minnesota Statutes
to hold a hearing for the approval of the revenue notes.
A representative will be available will be available ifthere are questions.
The public hearing notice was published in the SunPost on May 14, 2009. WorkAbilities, Inc.
will pay for all costs related to the public hearing notice and the debt issuance fee.
Attachments
Resolution Giving Preliminary Approval to a Project under Minnesota Statutes, Sections
469.152 through 469.165 and Referring the Proposal to the Minnesota Department of
Employment and Economic Development for Approval (3 pages, loose in agenda packet)
Resolution Approving the Issuance and Sale of a Revenue Note, Series 2009 (WorkAbilities
Inc. Project) in the Aggregate Amount of Not to Exceed $1,500,000 and Authorizing the
Execution of Documents Relating Thereto (9 pages, loose in agenda packet)
Recommended Action
Motion to adopt Resolution Giving Preliminary Approval to a Project under Minnesota
Statutes, Sections 469.152 through 469.165 and Referring the Proposal to the Minnesota
Department of Employment and Economic Development for Approval.
Motion to adopt Resolution Approving the Issuance and Sale of a Revenue Note, Series 2009
(WorkAbilities Inc. Project) in the Aggregate Amount of Not to Exceed $1,500,000 and
Authorizing the Execution of Documents Relating Thereto.
Resolution 09-31
June 2, 2009
Member
introduced the following resolution and moved its adoption:
RESOLUTION GIVING PRELIMINARY APPROVAL TO A PROJECT UNDER
MINNESOTA STATUTES, SECTIONS 469.152 THROUGH 469.165 AND REFERRING
THE PROPOSAL TO THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND
ECONOMIC DEVELOPMENT FOR APPROVAL
BE IT RESOLVED, by the governing body (the "Council") of the City of Golden
Valley, Hennepin County, Minnesota (the "Issuer"), as follows:
Section 1. General Recitals. Fryberger, Buchanan, Smith & Frederick, P.A., bond
counsel, has informed the Council that the purpose of Minnesota Statutes,
Sections 469.152 through 469.165 as amended, relating to the municipal
industrial development (the "Act"), as found and determined by the legislature,
is to promote the welfare of the State of Minnesota (the "State") by the active
promotion, attraction, encouragement and development of economically
sound industry and commerce through governmental action to prevent, so far
as possible, the emergence of blighted and marginal lands and areas of
chronic unemployment.
Section 2. Description of the Proiect.
a. WorkAbilities, Inc. (the "Borrower") located at 7400 Laurel Avenue,
Minneapolis, Minnesota, a Minnesota nonprofit corporation and
organization described in Section 501 (c)(3) of the Internal Revenue
Code of 1986, as amended (the "Code") has proposed issuance of
revenue obligations, in one or more series, in an amount not to exceed
$1,500,000 (the "Note") to refinance taxable indebtedness incurred to
acquire and equip an approximately 35,300 square foot corporate
office building located at 7400 Laurel Avenue, Golden Valley,
Minnesota (the "Project"), and paying costs associated with the
financing.
b. The Project will be owned and operated by the Borrower.
Section 3. Recital of Representations Made bv the Borrower.
a. The Issuer has been advised by representatives of the Borrower that:
(i) conventional financing to pay the capital cost of the Project is
available only on a limited basis and at such high costs of borrowing
that the economic feasibility of operating the Project would be
significantly reduced; (ii) on the basis of information submitted to the
Borrower and their discussions with representatives of area financial
institutions and potential buyers of tax-exempt bonds, the Note could
be issued and sold upon favorable rates and terms to finance the
Project; and (iii) the Project would not be undertaken in their present
form but for the availability of financing under the Act.
b. The Borrower has agreed to pay any and all costs incurred by the
Issuer in connection with the issuance of the Note, whether or not such
issuance is carried to completion.
c. The Borrower has represented to the Issuer that no public official of the
Issuer has either a direct or indirect financial interest in the Project nor
will any public official either directly or indirectly benefit financially from
the Project.
Section 4. Public HearinQ.
a. An initial resolution was adopted by the Council on May 5, 2009,
scheduling a public hearing on the issuance of the Note and the
proposal to undertake and finance the Project.
b. A Notice of Public Hearing was published in the New Hope-Golden
Valley SunPost, the Issuer's official newspaper, and a newspaper of
general circulation, calling a public hearing on the proposed issuance
of the Note and the proposal to undertake and finance the Project.
c. The Issuer has, on June 2, 2009, held a public hearing on the issuance
of the Note and the proposal to undertake and finance the Project, at
which all those appearing who desired to speak were heard and written
comments were accepted.
Section 5. FindinQs. It is hereby found, determined, and declared as follows:
a. The welfare of the State and the Issuer requires the provision of
necessary facilities serving adults with developmental disabilities so
that such services are available to residents of the State and the Issuer
at reasonable cost.
b. The Issuer desires to facilitate the selective development of the
community and help to provide the range of services and employment
opportunities required by the population. The Project will assist the
Issuer in achieving those objectives and enhance the image and
reputation of the community.
c. On the basis of information made available to this Council by the
Borrower it appears, and this Council hereby finds, that: (1) the Project
constitutes properties, real and personal, used or useful in connection
with a revenue producing enterprise; (2) the Project furthers the
purposes stated in Section 1 above; (3) the Project would not be
undertaken but for the availability of financing under the Act and the
willingness of the Issuer to furnish such financing; and (4) the effect of
2
the Project, if undertaken, will be to: (i) encourage the development of
economically sound industry and commerce, (ii) help prevent chronic
unemployment, (iii) provide the range of service and employment
opportunities required by the population, and (iv) promote more
intensive development and appropriate use of land within the Issuer,
eventually to increase the tax base of the community.
Section 6. Approval.
a. The Project and the issuance of the Note are hereby given preliminary
approval by the Issuer.
b. The Mayor or the City Manager, or their designee, is authorized and
directed to submit the proposal for the Project to the Department of
Employment and Economic Development of the State ("DEED")
requesting approval, and other officers, employees and agents of the
Issuer are hereby authorized to provide DEED with such information as
it may require.
Section 7. Limited Obliqation. The Note, when and if issued for the Project, shall not
constitute a charge, lien or encumbrance, legal or equitable, upon any
property of the Issuer. (There will, however, be a charge, lien or
encumbrance on the Project, which is not an asset of the Issuer.) The Note,
when and if issued, shall recite in substance that the Note and the interest
thereon, are payable solely from revenues received from the Project and
property pledged for payment thereof, and shall not constitute a debt of the
Issuer.
Linda R. Loomis, Mayor
ATTEST:
Susan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
and upon a vote being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.
3
Resolution 09-32
June 2, 2009
Member
introduced the following resolution and moved its adoption:
RESOLUTION APPROVING THE ISSUANCE AND SALE OF A REVENUE NOTE,
SERIES 2009 (WORKABILlTIES, INC. PROJECT) IN THE AGGREGATE AMOUNT
OF NOT TO EXCEED $1,500,000 AND AUTHORIZING THE EXECUTION OF
DOCUMENTS RELATING THERETO
BE IT RESOLVED, by the governing body (the "Council") of the City of Golden
Valley, Hennepin County, Minnesota (the "Issuer"), as follows:
Section 1. Definitions. The terms used herein, unless the context hereof requires
otherwise, have the following meanings, and any other terms defined in the
Loan Agreement (hereinafter defined) have the same meanings when used
herein as assigned to them in the Loan Agreement unless the context or use
thereof indicates another or differing meaning or intent:
a. Act: Minnesota Statutes, Sections 469.152 through 469.165, as amended.
b. Borrower: WorkAbilities, Inc. being (as represented to the Issuer), a
Minnesota nonprofit corporation and organization described in Section
501 (c)(3) of the Internal Revenue Code of 1986, as amended, the corporate
offices of which are located at 7400 Laurel Avenue, Minneapolis, Minnesota.
c. Bond Counsel: the law firm of Fryberger, Buchanan, Smith & Frederick, P.A.
or any other firm of nationally-recognized bond counsel.
d. Code: the Internal Revenue Code of 1986, as amended.
e. Council: the governing body of the Issuer.
f. County: Hennepin County, Minnesota.
g. Documents: the Loan Agreement, the Mortgage, the Pledge Agreement and
other documents required for the issuance of the Note.
h. DEED: the Minnesota Department of Employment and Economic
Development.
i. Issuer: the City of Golden Valley, Hennepin County, a municipal corporation
and political subdivision of the State.
j. Issuer Documents: collectively, the Loan Agreement and the Pledge
Agreement.
k. Lender: Franklin National Bank of Minneapolis, a national banking
association, with an office located in Minneapolis, Minnesota.
I. Loan Aareement: the Loan Agreement to be entered into between the Issuer
and the Borrower, pursuant to which the Borrower agrees to repay the loan
made thereunder in specified amounts and at specified times sufficient to pay
in full when due the principal of, premium, if any, and interest on the Note.
m. Mortgage: the combination Amended and Restated Mortgage, Security
Agreement, Fixture Financing Statement and Assignment of Leases and
Rents from the Borrower to the Lender, pursuant to which the Borrower will
secure its obligations with respect to the Note under the Loan Agreement,
including the payment of amounts due under the Loan Agreement, by
granting to the Lender a first mortgage interest in the property described
therein.
n. Note: the Issuer's Revenue Note, Series 2009 (WorkAbilities, Inc. Project)
o. Pledge Agreement: the Pledge Agreement to be entered into among the
Issuer, the Borrower and the Lender, pursuant to which the Issuer pledges
and grants a security interest in all of its rights, title, and interest in the Loan
Agreement (except for the Unassigned Issuer's Rights) to the Lender.
p. Proiect: acquiring and equipping an approximately 35,300 square foot
corporate office building located at 7400 Laurel Avenue, Golden Valley,
Minnesota.
q. Registrar: the bond registrar and transfer agent for the Note.
r. State: the State of Minnesota.
Section 2. Recitals.
a. Under the Act, the Issuer is authorized and empowered to issue revenue
obligations to refinance outstanding indebtedness of an organization that is
primarily engaged in activities for mentally or physically disabled persons or
providing social services, such as providing assistance to the poor, distressed
or underprivileged. The Borrower has represented to the Issuer that it is such
an organization.
b. An initial resolution was adopted by the Council on May 5, 2009, scheduling a
public hearing on the proposed issuance of revenue obligations, in one or
more series, in an amount not to exceed $1,500,000 to refinance debt
incurred by the Borrower to acquire and equip the Project all with respect to
the Borrower.
c. The Issuer has, after due notice and publication thereof, on June 2,2009,
held a public hearing on the Project and the refinancing thereof, and persons
in attendance wishing to speak on the Project and refinancing thereof were
given an opportunity to do so at the hearing.
d. A resolution was adopted by the Council on June 2, 2009, which gave
preliminary approval to the issuance of revenue obligations and the proposal
to undertake and refinance the Project, and referred the proposal regarding
the issuance of revenue obligations in order to refinance the cost of the
Project on behalf of the Borrower to DEED. The findings of the Council
contained in said resolution are ratified and confirmed as though stated in full
herein.
e. Drafts of the following documents have been submitted to this Council and
are on file in the office of the City Manager:
I. the Loan Agreement;
ii. the Pledge Agreement;
iii. the Mortgage; and
iv. the form of the Note.
Section 3. The Note.
a. In order to provide for the refinancing of the Project, the Issuer determines,
based on representations of the Borrower, that the offer of the Lender to
purchase the Note in an original principal amount of not to exceed
$1,500,000, at an initial interest rate of not to exceed 6% per annum, subject
to adjustment as provided in the Note, and upon the terms and conditions
hereafter specified and specified in the Note is reasonable and is accepted.
The Issuer will loan the proceeds of the Note to the Borrower in order to
refinance the Project.
b. The Loan Repayments to be made by the Borrower under the Loan
Agreement are fixed to produce revenue sufficient to provide for the prompt
payment of principal of, premium, if any, and interest on the Note when due,
and the Loan Agreement also provides that the Borrower is required to pay all
expenses of the operation and maintenance of the Project, including, but
without limitation, adequate insurance thereon and insurance against all
liability for injury to persons or property arising from the operation thereof, and
all lawfully imposed taxes and special assessments levied upon or with
respect to the Project and payable during the term of the Loan Agreement.
c. The Note shall be in substantially the form submitted to the Council, with such
appropriate variations, omissions and insertions as are permitted or required
by this Resolution, and in accordance with the further provisions hereof as
may be necessary and appropriate and approved by bond counsel and the
Borrower prior to the execution thereof; and shall mature in the years and
amounts, be subject to redemption, and bear interest at the rate as therein
specified, subject to adjustment as therein specified.
d. The Note shall be executed on behalf of the Issuer by the signatures of its
Mayor and City Manager. The seal of the Issuer may be omitted as allowed
by law. In case any officer whose signature shall appear on the Note shall
cease to be such officer before the delivery of the Note, such signature shall
nevertheless be valid and sufficient for all purposes, the same as if such
officer had remained in office until delivery. In the event of the absence or
disability of the Mayor or the City Manager such officers of the Issuer as may
act in their behalf, shall without further act or authorization of the Council
execute and deliver the Note.
e. After the adoption of this Resolution, but prior to the issuance and delivery of
the Note to the Lender, the original aggregate principal amount of the Note,
the maturity date of the Note, the principal amount of the Note due on each
payment date, the interest rate of the Note prior the first Adjustment Date (as
defined in the Note), the date of the documents referenced in this Resolution
and the Note, and the terms of redemption of the Note may be established or
modified with the approval of the Mayor and the City Manager; provided that
the aggregate principal amount of the Note and the interest rate of the Note
may not be increased from the amounts set forth in this Resolution.
Section 4. Approval and Execution of Documents.
a. The Issuer Documents and the Note are made a part of this Resolution as
though fully set forth herein and are approved in substantially the forms on file
with the Council. The Mayor and the City Manager are authorized and
directed to execute, acknowledge, and deliver the Issuer Documents and the
Note on behalf of the Issuer with such changes, insertions, and omissions
therein as the Issuer's attorney may hereafter deem appropriate, such
execution by the Mayor and City Manager to be conclusive evidence of
approval of such documents in accordance with the terms hereof.
b. The Mayor, the City Manager and other officers of the Issuer are authorized
and directed to execute and deliver all other documents which may be
required under the terms of the Issuer Documents or the Note or by bond
counsel, and to take such other action as may be required or deemed
appropriate for the performance of the duties imposed thereby to carry out the
purposes thereof.
c. The Mayor, City Manager and other officers of the Issuer are authorized to
furnish certified copies of this Resolution and all proceedings and records of
the Issuer relating to the Note, and such other affidavits and certificates as
may be required to show the facts relating to the Issuer respecting the Note,
as such facts appear from the books and records in the officers' custody and
control or as otherwise known to them; and all such certified copies,
certificates, and affidavits, including any heretofore furnished, shall constitute
representations of the Issuer as to the truth of all statements contained
therein.
d. If for any reason the Mayor, City Manager, or any other officers, employees,
or agents of the Issuer authorized to execute certificates, instruments, or
other written documents on behalf of the Issuer shall for any reason cease to
be an officer, employee, or agent of the Issuer after the execution by such
person of any certificate, instrument, or other written document, such fact
shall not affect the validity or enforceability of such certificate, instrument, or
other written document.
e. If for any reason the Mayor, City Manager, or any other officers, employees,
or agents of the Issuer authorized to execute certificates, instruments, or
other written documents on behalf of the Issuer shall be unavailable to
execute such certificates, instruments, or other written documents for any
reason, such certificates, instruments, or other written documents may be
executed by a deputy or assistant to such officer, or by such other officer of
the Issuer as in the opinion of the Issuer's attorney is authorized to sign such
document and do all things and execute all instruments and documents
required to be done or executed by such officers, with full force and effect,
which executions or acts shall be valid and binding on the Issuer.
Section 5. Reaistration.
a. Registered Form. The Note shall be issued only in fully registered form. The
Note shall be numbered R-1 in a denomination equal to the principal amount
thereof.
b. Registration, Transfer and Exchange. The Issuer appoints the City Manager
as Registrar. The effect of registration and the rights and duties of the Issuer
with respect thereto are as follows:
i. Register. The Registrar must keep a bond register for the Note in
which the Registrar provides for the registration of ownership of the
Note and the registration of transfers and exchanges of the Note.
ii. Transfer of Note. Subject to the provisions of clause x of this
subsection, upon surrender for transfer of the Note duly endorsed by
the registered owner thereof or accompanied by a written instrument of
transfer, in form satisfactory to the Registrar, duly executed by the
registered owner thereof or by an attorney duly authorized by the
registered owner in writing, the Registrar will authenticate and deliver,
in the name of the designated transferee, one new note in an
aggregate principal amount equal to the then outstanding principal
amount of the Note so surrendered and of like maturity, as requested
by the transferor. The Registrar may, however, close the books for
registration of any transfer after the 15th day of the month preceding
each interest payment date and until such interest payment date.
III. Issuance of a New Note. Subject to the provisions of clause x of this
subsection, the Issuer shall, at the request and expense of the Lender,
issue a new note in the aggregate outstanding principal amount equal
to that of the Note surrendered, and of like tenor except as to number
and principal amount and registered in the name of the Lender or such
transferee as may be designated by the Lender.
iv. Exchange of Note. When the Note is surrendered by the registered
owner for exchange, the Registrar will authenticate and deliver one
new note in an aggregate principal amount equal to the then
outstanding principal amount of the Note surrendered and of like
maturity, as requested in writing by the registered owner or the owner's
attorney.
v. Cancellation. The Note surrendered upon any transfer or exchange
will be promptly canceled by the Registrar and thereafter disposed of
as directed by the Issuer.
vi. Improper or Unauthorized Transfer. When the Note is presented to the
Registrar for transfer, the Registrar may refuse to transfer the Note so
presented until the Registrar is satisfied that the endorsement on the
Note or separate instrument of transfer is valid and genuine and that
the requested transfer is legally authorized. The Registrar will incur no
liability for the refusal, in good faith, to make transfers which it, in its
judgment, deems improper or unauthorized.
vii. Persons Deemed Owners. The Issuer and the Registrar may treat the
person in whose name the Note is registered in the bond register as
the absolute owner of the Note, whether the Note is overdue or not, for
the purpose of receiving payment of, or on account of, the principal of
and interest on the Note and for all other purposes, and payment so
made to a registered owner or upon the owner's order will be valid and
effectual to satisfy and discharge the liability upon the Note to the
extent of the sum or sums so paid.
viii. Taxes, Fees and Charges. For a transfer or exchange of the Note, the
Registrar may impose a charge upon the owner thereof sufficient to
reimburse the Registrar for any tax, fee or other governmental charge
required to be paid with respect to the transfer or exchange.
ix. Mutilated, Lost, Stolen or Destroyed Note. If the Note becomes
mutilated or is destroyed, stolen or lost, the Registrar will deliver a new
Note of like amount, number, maturity date, redemption privilege and
tenor in exchange and in substitution for and upon cancellation of the
mutilated Note or in lieu of or in substitution for the Note destroyed,
stolen or lost, upon the payment of the reasonable expenses and
charges of the Registrar and Issuer in connection therewith; and, in the
case of the Note destroyed, stolen or lost, upon filing with the Registrar
of evidence satisfactory to the Registrar that the Note was destroyed,
stolen or lost, and of the ownership thereof, and upon furnishing to the
Registrar and Issuer of an appropriate bond or indemnity in form,
substance and amount satisfactory to it and as provided by law, in
which both the Issuer and the Registrar must be named as obligees.
The Note so surrendered to the Registrar will be canceled by the
Registrar. If the mutilated, destroyed, stolen or lost Note has already
matured or been called for redemption in accordance with its terms it is
not necessary to issue a. new Note prior to payment.
x. Limitation on Transfers. The Note has been issued without registration
under state or other securities laws, pursuant to an exemption for such
issuance; and accordingly the Note may not be assigned or transferred
in whole or part, nor may a participation interest in the Note be given
pursuant to any participation agreement, except in accordance with an
applicable exemption from such registration requirements. In no event
may any participation interest in the Note be in an initial principal
amount of less than $100,000.
Section 6. General Covenants.
a. Payment of Principal and Interest. The principal of and interest on the Note
are payable solely from and secured by revenues and proceeds derived from
the Note and the Documents, which revenues and proceeds are specifically
pledged to the payment thereof in the manner and to the extent specified
herein and in the Note and the Documents; and nothing in the Note or in this
Resolution shall be considered as assigning, pledging or otherwise
encumbering any other funds or assets of the Issuer.
b. Agreements Binding. All agreements, covenants, and obligations of the
Issuer contained in this Resolution and in the above-referenced documents
shall be deemed to be the agreements, covenants, and obligations of the
Issuer to the full extent authorized or permitted by law, and all such
agreements, covenants, and obligations shall be binding on the Issuer and
enforceable in accordance with their terms. No agreement, covenant, or
obligation contained in this Resolution or in the above-referenced documents
shall be deemed to be an agreement, covenant, or obligation of any member
of the Council, or of any officer, employee, or agent of the Issuer in that
person's individual capacity. Neither the members of the Council, nor any
officer executing the Note, shall be liable personally on the Note or be subject
to any personal liability or accountability by reason of the issuance of the
Note.
c. Rights Conferred. Nothing in this Resolution or in the above-referenced
documents is intended or shall be construed to confer upon any person (other
than as provided in the Note, the Loan Agreement, the Pledge Agreement,
and the other agreements, instruments, and documents hereby approved)
any right, remedy, or claim, legal or equitable, under and by reason of this
Resolution or any provision of this Resolution.
d. Nature of Security.
i. The Note is and will be a special limited obligation of the Issuer.
ii. Notwithstanding anything contained in the Note or the Documents or
any other document referred to herein to the contrary, under the
provisions of the Act the Note may not be payable from or be a charge
upon any funds of the Issuer and the revenues and proceeds pledged
to the payment thereof, nor shall the Issuer be subject to any liability
thereon, nor shall the Note otherwise contribute or give rise to a
pecuniary liability of the Issuer or any of the Issuer's officers,
employees and agents. Accordingly, the Note shall not be payable
from or charged upon any funds other than the revenues pledged to
the payment thereof, nor shall the Issuer be subject to any liability
thereon.
iii. No holder of the Note shall ever have the right to compel any exercise
of the taxing power of the Issuer to pay the Note or the interest
thereon, or to enforce payment thereof against any property of the
Issuer other than the revenues pledged under the Pledge Agreement;
and the Note shall not constitute a charge, lien or encumbrance, legal
or equitable, upon any funds, assets or property of the Issuer, other
than revenues under the Loan Agreement; and the Note shall not
constitute a debt of the Issuer within the meaning of any constitutional
or statutory limitation of indebtedness. The Note will not constitute an
indebtedness, a pecuniary liability, a moral or general obligation or a
loan of the credit of the Issuer or a charge, lien or encumbrance, legal
or equitable, against the Issuer's property (other than revenues under
the Loan Agreement), general credit or taxing powers.
Section 7. OfferinQ and Disclosure Materials. The Issuer has not participated in the
preparation of or reviewed any offering or disclosure materials with respect to
the offer and sale of the Note and the Issuer makes no representations or
warranties regarding the necessity, sufficiency, accuracy, fairness,
completeness or adequacy of any disclosure with respect to such offer and
sale.
Section 8. Subiect to DEED Approval. Notwithstanding anything in this Resolution to the
contrary, the approvals and authorizations given herein are specifically
subject to and contingent upon the receipt of approval of the Project by
DEED.
Section 9. Severability. If any provision of this Resolution shall be held or deemed to be
or shall, in fact, be inoperative or unenforceable as applied in any particular
case in any jurisdiction or jurisdictions or in all jurisdictions or in all cases
because it conflicts with any provisions of any constitution or statute or rule or
public policy, or for any other reason, such circumstances shall not have the
effect of rendering the provision in question inoperative or unenforceable in
any other case or circumstance or of rendering any other provision or
provisions herein contained invalid, inoperative, or unenforceable to any
extent whatever. The invalidity of anyone or more phrases, sentences,
clauses or paragraphs in this Resolution contained shall not affect the
remaining portions of this Resolution or any part thereof.
Section 10 Effective Date. This Resolution shall take effect and be in force from and
after its approval.
Linda R. Loomis, Mayor
ATTEST:
Susan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
and upon a vote being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.
Memorandum
Finance
763-593-8013/763-593-8109 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
6. A. Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and Providing
for the Payment of $5,665,000 General Obligation Improvement Refunding Bonds, Series
20090
Prepared By
Susan Virnig, Finance Director
Summary
As directed by Council, Staff and Springsted wanted to take advantage of the last bond sale
so they received approval from Bond Counsel and Moody's to expedite bids for refinancing
the 2002A General Obligation Bonds. A representative from Springsted Inc. will be in
attendance at the meeting to present the bid results. If the City Council desires to proceed
with these bond sales, after reviewing the bid results, it should adopt the attached resolution
and escrow agreement.
Attachments
Resolution Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and
Providing for the Payment of $5,665,000 General Obligation Improvement Refunding Bonds,
Series 20090 (21 pages, loose in agenda packet)
Escrow Agreement (8 pages, loose in agenda packet)
Recommended Action
Motion to adopt Resolution Authorizing Issuance, Awarding Sale, Prescribing the Form and
Details and Providing for the Payment of $5,665,000 General Obligation Improvement
Refunding Bonds, Series 20090.
Motion to authorize the Mayor and City Manager to sign the Escrow Agreement.
Resolution 09-33
June 2, 2009
Member
introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING ISSUANCE, AWARDING SALE,
PRESCRIBING THE FORM AND DETAILS AND PROVIDING
FOR THE PAYMENT OF $5,665,000 GENERAL OBLIGATION
IMPROVEMENT REFUNDING BONDS, SERIES 2009D
BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota (the
"Issuer"), as follows:
SECTION 1. AUTHORIZATION AND SALE.
1.1. Authorization. It is hereby determined to be in the best interests of the Issuer to
issue its General Obligation Improvement Refunding Bonds, Series 2009D, in the principal
amount of $5,665,000 (the "Bonds"), pursuant to Minnesota Statutes, Chapter 475, to
provide funds to be used, along with other available funds, to refinance on February 1,
2011 (the "Refunding"), the 2012-2018 maturities of the Issuer's General Obligation
Improvement Bonds, Series 2002A, dated, as originally issued, as of June 15, 2002, which
maturities are presently outstanding in the principal amount of $5,420,000 (the "Refunded
Bonds"). February 1, 2011 (the "Crossover Date") is the earliest date upon which the
Refunded Bonds may be redeemed without payment of premium. The Refunding is being
carried out for the purpose described in Minnesota Statutes, Section 475.67, Subdivision 3,
Section (b)(2)(i) and in compliance with Minnesota Statutes, Chapter 475.
1.2. Sale. Pursuant to Minnesota Statutes, Section 475.60, Subdivision 2,
paragraph (5), the Bonds are exempt from the public sale requirements of Chapter 475.
Springsted Incorporated has solicited proposals for the Bonds on behalf of the City on a
negotiated basis. The most favorable proposal received is that of
in , and associates (the "Purchaser"), to
purchase the Bonds at a price of $ plus accrued interest on all
Bonds to the day of delivery and payment, on the further terms and conditions hereinafter
set forth.
1.3. Award. The sale of the Bonds is hereby awarded to the Purchaser, and the
Mayor and City Manager are hereby authorized and directed to execute a contract on
behalf of the Issuer for the sale of the Bonds in accordance with the Terms of Proposal.
The good faith deposit of the Purchaser shall be retained and deposited by the Issuer until
the Bonds have been delivered and shall be deducted from the purchase price paid at
settlement.
1.4. SavinQs. It is hereby determined that:
(a) by the issuance of the Bonds, the Issuer will realize a substantial interest
rate reduction, a gross savings of approximately $ and a present
value savings (using the yield on the Bonds, computed in accordance with Section
148 of the Internal Revenue Code of 1986, as amended (the "Code"), as the
discount factor) of approximately $ ; and
1
(b) as of the Crossover Date, the sum of (i) the present value of the debt
service on the Bonds, computed to their stated maturity dates, after deducting any
premium, using the yield of the Bonds as the discount rate, plus (ii) any expenses of
the refunding payable from a source other than the proceeds of the Bonds or
investment earnings thereon, is lower by % (not less than 3%) than the
present value of the debt service on the Refunded Bonds, exclusive of any premium,
computed to their stated maturity dates, using the yield of the Bonds as the discount
rate.
SECTION 2. BOND TERMS: REGISTRATION: EXECUTION AND DELIVERY.
2.1. Issuance of Bonds. All acts, conditions and things which are required by the
Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be
performed precedent to and in the valid issuance of the Bonds having been done, now
existing, having happened and having been performed, it is now necessary for the City
Council to establish the form and terms of the Bonds, to provide security therefor and to
issue the Bonds forthwith.
2.2. Maturities; Interest Rates: Denominations and Payment. The Bonds shall be
originally dated as of June 1, 2009, shall be in the denomination of $5,000 each, or any
integral multiple thereof, of single maturities, shall mature on February 1 in the years and
amounts stated below, and shall bear interest from date of issue until paid or duly called for
redemption at the annual rates set forth opposite such years and amounts, as follows:
Year Amount Rate Year Amount Rate
2012 $720,000 2016 $845,000
2013 715,000 2017 870,000
2014 800,000 2018 895,000
2015 820,000
[REVISE MATURITY SCHEDULE FOR ANY TERM BONDS]
The Bonds shall be issuable only in fully registered form. The interestthereon and, upon
surrender of each Bond, the principal amount thereof shall be payable by check or draft
issued by the Registrar described herein, provided that, so long as the Bonds are
registered in the name of a securities depository, or a nominee thereof, in accordance with
Section 2.8 hereof, principal and interest shall be payable in accordance with the
operational arrangements of the securities depository.
2.3. Dates and Interest Payment Dates. Upon initial delivery of the Bonds pursuant
to Section 2.7 and upon any subsequent transfer or exchange pursuant to Section 2.6, the
date of authentication shall be noted on each Bond so delivered, exchanged or transferred.
Interest on the Bonds shall be payable on February 1 and August 1, commencing February
1, 2010, each such date being referred to herein as an Interest Payment Date, to the
persons in whose names the Bonds are registered on the Bond Register, as hereinafter
defined, at the Registrar's close of business on the fifteenth day of the calendar month next
preceding such Interest Payment Date, whether or not such day is a business day. Interest
shall be computed on the basis of a 360-day year composed of twelve 30-day months.
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2.4. Redemption. The Bonds shall not be subject to optional redemption prior to
their maturity.
[COMPLETE THE FOllOWING PROVISIONS IF THERE ARE TERM BONDS-
ADD ADDITIONAL PROVISIONS IF THERE ARE MORE THAN TWO TERM BONDS]
[Bonds maturing on February 1, 20_ and 20_ (the "Term Bonds") shall be
subject to mandatory redemption prior to maturity pursuant to the sinking fund requirements
of this Section 2.4 at a redemption price equal to the stated principal amount thereof plus
interest accrued thereon to the redemption date, without premium. The Registrar shall
select for redemption, by lot or other manner deemed fair, on February 1 in each of the
following years the following stated principal amounts of such Bonds:
Term Bonds Maturinq February 1,20
Year Principal Amount
The remaining $ stated principal amount of such Bonds shall be paid at
maturity on February 1, 20_"
Term Bonds Maturinq February 1,20
Year Principal Amount
The remaining $ stated principal amount of such Bonds shall be paid at
maturity on February 1, 20_.
The City Manager shall cause notice of the call for redemption thereof to be
published as required by law, and at least thirty and not more than 60 days prior to the
designated redemption date, shall cause notice of call for redemption to be mailed, by first
class mail, to the registered holders of any Bonds to be redeemed at their addresses as
they appear on the bond register described in Section 2.6 hereof, but no defect in or failure
to give such mailed notice of redemption shall affect the validity of proceedings for the
redemption of any Bond not affected by such defect or failure. Official notice of redemption
having been given as aforesaid, the Bonds or portions of Bonds so to be redeemed shall,
on the redemption date, become due and payable at the redemption price therein specified
and from and after such date (unless the Issuer shall default in the payment of the
redemption price) such Bonds or portions of Bonds shall cease to bear interest. Upon
partial redemption of any Bond, a new Bond or Bonds will be delivered to the owner without
charge, representing the remaining principal amount outstanding.]
2.5. Appointment of Initial Reqistrar. The Issuer hereby appoints U.S. Bank
National Association, St. Paul, Minnesota, as the initial bond registrar, transfer agent and
paying agent (the "Registrar"). The Mayor and City Manager are authorized to execute and
deliver, on behalf of the Issuer, a contract with the Registrar. Upon merger or consolidation
of the Registrar with another corporation, if the resulting corporation is a bank or trust
company organized under the laws of the United States or one of the states of the United
States and authorized by law to conduct such business, such corporation shall be
authorized to act as successor Registrar. The Issuer agrees to pay the reasonable and
3
customary charges of the Registrar for the services performed. The Issuer reserves the
right to remove the Registrar, effective upon not less than thirty days' written notice and
upon the appointment and acceptance of a successor Registrar, in which event the
predecessor Registrar shall deliver all cash and Bonds in its possession to the successor
Registrar and shall deliver the Bond Register to the successor Registrar.
2.6. Reqistration. The effect of registration and the rights and duties of the Issuer
and the Registrar with respect thereto shall be as follows:
(a) Reqister. The Registrar shall keep at its principal corporate trust office a
bond register (the "Bond Register") in which the Registrar shall provide for the
registration of ownership of Bonds and the registration of transfers and exchanges of
Bonds entitled to be registered, transferred or exchanged. The term Holder or
Bondholder as used herein shall mean the person (whether a natural person,
corporation, association, partnership, trust, governmental unit, or other legal entity)
in whose name a Bond is registered in the Bond Register.
(b) Transfer of Bonds. Upon surrender for transfer of any Bond duly
endorsed by the Holder thereof or accompanied by a written instrument of transfer,
in form satisfactory to the Registrar, duly executed by the Holder thereof or by an
attorney duly authorized by the Holder in writing, the Registrar shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more new
Bonds of a like aggregate principal amount and maturity, as requested by the
transferor. The Registrar may, however, close the books for registration of any
transfer after the fifteenth day of the month preceding each interest payment date
and until such interest payment date.
(c) Exchanqe of Bonds. Whenever any Bonds are surrendered by the
registered owner for exchange the Registrar shall authenticate and deliver one or
more new Bonds of a like aggregate principal amount and maturity, as requested by
the registered owner or the owner's attorney in writing.
(d) Cancellation. All Bonds surrendered upon any transfer or exchange shall
be promptly canceled by the Registrar and thereafter disposed of as directed by the
Issuer.
(e) Improper or Unauthorized Transfer. When any Bond is presented to the
Registrar for transfer, the Registrar may refuse to transfer the same until it is
satisfied that the endorsement on such Bond or separate instrument of transfer is
valid and genuine and that the requested transfer is legally authorized. The
Registrar shall incur no liability for the refusal, in good faith, to make transfers which
it, in its judgment, deems improper or unauthorized.
(f) Persons Deemed Owners. The Issuer and the Registrar may treat the
person in whose name any Bond is at any time registered in the bond register as the
absolute owner of the Bond, whether the Bond shall be overdue or not, for the
purpose of receiving payment of or on account of, the principal of and interest on the
Bond and for all other purposes, and all payments made to any registered owner or
upon the owner's order shall be valid and effectual to satisfy and discharge the
liability upon the Bond to the extent of the sum or sums so paid.
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(g) Taxes, Fees and Charges. For every transfer or exchange of Bonds
(except for an exchange upon a partial redemption of a Bond), the Registrar may
impose a charge upon the owner thereof sufficient to reimburse the Registrar for any
tax, fee or other governmental charge required to be paid with respect to such
transfer or exchange.
(h) Mutilated. Lost. Stolen or Destroyed Bonds. In case any Bond shall
become mutilated or be destroyed, stolen or lost, the Registrar shall deliver a new
Bond of like amount, number, maturity date and tenor in exchange and substitution
for and upon cancellation of any such mutilated Bond or in lieu of and in substitution
for any Bond destroyed, stolen or lost, upon the payment of the reasonable
expenses and charges of the Registrar in connection therewith, and, in the case of a
Bond destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory
to it that the Bond was destroyed, stolen or lost, and of the ownership thereof, and
upon furnishing to the Registrar of an appropriate bond or indemnity in form,
substance and amount satisfactory to it, in which both the Issuer and the Registrar
shall be named as obligees. All Bonds so surrendered to the Registrar shall be
canceled by it and evidence of such cancellation shall be given to the Issuer. If the
mutilated, destroyed, stolen or lost Bond has already matured or been called for
redemption in accordance with its terms it shall not be necessary to issue a new
Bond prior to payment.
(i) Authenticating Agent. The Registrar is hereby designated authenticating
agent for the Bonds, within the meaning of Minnesota Statutes, Section 475.55,
Subdivision 1 J as amended.
m Valid Obligations. All Bonds issued upon any transfer or exchange of
Bonds shall be the valid obligations of the Issuer, evidencing the same debt, and
entitled to the same benefits under this Resolution as the Bonds surrendered upon
such transfer or exchange.
2.7. Execution. Authentication and Delivery. The Bonds shall be prepared under
the direction of the City Manager and shall be executed on behalf of the Issuer by the
signatures of the Mayor and the City Manager, provided that the signatures may be printed,
engraved or lithographed facsimiles of the originals. In case any officer whose signature or
a facsimile of whose signature shall appear on the Bonds shall cease to be such officer
before the delivery of any Bond, such signature or facsimile shall nevertheless be valid and
sufficient for all purposes, the same as if such officer had remained in office until delivery.
Notwithstanding such execution, no Bond shall be valid or obligatory for any purpose or
entitled to any security or benefit under this resolution unless and until a certificate of
authentication on the Bond has been duly executed by the manual signature of an
authorized representative of the Registrar. Certificates of authentication on different Bonds
need not be signed by the same representative. The executed certificate of authentication
on each Bond shall be conclusive evidence that it has been authenticated and delivered
under this resolution. When the Bonds have been prepared, executed and authenticated,
the City Manager shall deliver them to the Purchaser upon payment of the purchase price
in accordance with the contract of sale heretofore executed, and the Purchaser shall not be
obligated to see to the application of the purchase price.
5
2.8. Securities Depositorv. (a) For purposes of this section the following terms
shall have the following meanings:
"Beneficial Owner" shall mean, whenever used with respect to a Bond, the
person in whose name such Bond is recorded as the beneficial owner of such Bond by a
Participant on the records of such Participant, or such person's subrogee.
"Cede & Co." shall mean Cede & Co., the nominee of DTC, and any
successor nominee of DTC with respect to the Bonds.
"DTC" shall mean The Depository Trust Company of New York, New York.
"Participant" shall mean any broker-dealer, bank or other financial institution
for which DTC holds Bonds as securities depository.
"Representation Letter" shall mean the Representation Letter pursuant to
which the sender agrees to comply with DTC's Operational Arrangements.
(b) The Bonds shall be initially issued as separately authenticated fully
registered bonds, and one Bond shall be issued in the principal amount of each stated
maturity of the Bonds. Upon initial issuance, the ownership of such Bonds shall be
registered in the bond register in the name of Cede & Co., as nominee of DTC. The
Registrar and the Issuer may treat DTC (or its nominee) as the sole and exclusive owner of
the Bonds registered in its name for the purposes of payment of the principal of or interest
on the Bonds, selecting the Bonds or portions thereof to be redeemed, if any, giving any
notice permitted or required to be given to registered owners of Bonds under this
resolution, registering the transfer of Bonds, and for all other purposes whatsoever, and
neither the Registrar nor the Issuer shall be affected by any notice to the contrary. Neither
the Registrar nor the Issuer shall have any responsibility or obligation to any Participant,
any person claiming a beneficial ownership interest in the Bonds under or through DTC or
any Participant, or any other person which is not shown on the bond register as being a
registered owner of any Bonds, with respect to the accuracy of any records maintained by
DTC or any Participant, with respect to the payment by DTC or any Participant of any
amount with respect to the principal of or interest on the Bonds, with respect to any notice
which is permitted or required to be given to owners of Bonds under this resolution, with
respect to the selection by DTC or any Participant of any person to receive payment in the
event of a partial redemption of the Bonds, or with respect to any consent given or other
action taken by DTC as registered owner of the Bonds. So long as any Bond is registered
in the name of Cede & Co., as nominee of DTC, the Registrar shall pay all principal of and
interest on such Bond, and shall give all notices with respect to such Bond, only to Cede &
Co. in accordance with DTC's Operational Arrangements, and all such payments shall be
valid and effective to fully satisfy and discharge the Issuer's obligations with respect to the
principal of and interest on the Bonds to the extent of the sum or sums so paid. No person
other than DTC shall receive an authenticated Bond for each separate stated maturity
evidencing the obligation of the Issuer to make payments of principal and interest. Upon
delivery by DTC to the Registrar of written notice to the effect that DTC has determined to
substitute a new nominee in place of Cede & Co., the Bonds will be transferable to such
new nominee in accordance with paragraph (e) hereof.
6
(c) In the event the Issuer determines that it is in the best interest of the
Beneficial Owners that they be able to obtain Bonds in the form of bond certificates, the
Issuer may notify DTC and the Registrar, whereupon DTC shall notify the Participants of
the availability through DTC of Bonds in the form of certificates. In such event, the Bonds
will be transferable in accordance with paragraph (e) hereof. DTC may determine to
discontinue providing its services with respect to the Bonds at any time by giving notice to
the Issuer and the Registrar and discharging its responsibilities with respect thereto under
applicable law. In such event the Bonds will be transferable in accordance with paragraph
(e) hereof.
(d) The execution and delivery of the Representation Letter to DTC, if not
previously filed with DTC, by the Mayor or City Manager is hereby authorized and directed.
(e) In the event that any transfer or exchange of Bonds is permitted under
paragraph (b) or (c) hereof, such transfer or exchange shall be accomplished upon receipt
by the Registrar of the Bonds to be transferred or exchanged and appropriate instruments
of transfer to the permitted transferee in accordance with the provisions of this resolution.
In the event Bonds in the form of certificates are issued to owners other than Cede & Co.,
its successor as nominee for DTC as owner of all the Bonds, or another securities
depository as owner of all the Bonds, the provisions of this resolution shall also apply to all
matters relating thereto, including, without limitation, the printing of such Bonds in the form
of bond certificates and the method of payment of principal of and interest on such Bonds
in the form of bond certificates.
2.9. Form of Bonds. The Bonds shall be prepared in substantially the following
form:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF GOLDEN VALLEY
GENERAL OBLIGATION IMPROVEMENT REFUNDING BOND, SERIES 2009D
Interest Rate Maturitv Date
February 1, 20_
REGISTERED OWNER: CEDE & CO.
Date of OriQinallssue
June 1, 2009
CUSIP NO.
%
PRINCIPAL AMOUNT:
THOUSAND DOLLARS
THE CITY OF GOLDEN VALLEY, MINNESOTA (the "Issuer"), acknowledges itself
to be indebted and for value received hereby promises to pay to the registered owner
named above, or registered assigns, the principal amount specified above on the maturity
date specified above and promises to pay interest thereon from the date of original issue
specified above or from the most recent Interest Payment Date (as hereinafter defined) to
which interest has been paid or duly provided for, at the annual interest rate specified
above, payable on February 1 and August 1 of each year, commencing February 1, 2010
(each such date, an "Interest Payment Date"), [all subject to the provisions referred to
7
herein with respect to the redemption of the principal of this Bond before maturity]. The
interest so payable on any Interest Payment Date shall be paid to the person in whose
name this Bond is registered at the close of business on the fifteenth day (whether or not a
business day) of the calendar month next preceding such Interest Payment Date. Interest
hereon shall be computed on the basis of a 360-day year composed of twelve 30-day
months. The interest hereon and, upon presentation and surrender hereof at the principal
office of the Registrar described below, the principal hereof are payable in lawful money of
the United States of America by check or draft drawn on U.S. Bank National Association,
St. Paul, Minnesota, as bond registrar, transfer agent and paying agent (the "Registrar"), or
its designated successor under the Resolution described herein. For the prompt and full
payment of such principal and interest as the same respectively become due, the full faith
and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged.
This Bond is one of an issue in the aggregate principal amount of $5,665,000 (the
"Bonds") issued pursuant to a resolution adopted by the City Council on June 2, 2009 (the
"Resolutions") to provide funds, together with other available funds of the Issuer, to refund
on February 1, 2011, the 2012-2018 maturities of the Issuer's General Obligation
Improvement Bonds, Series 2002A, dated, as originally issued, as of June 15, 2000, which
are currently outstanding in the amount of $5,420,000. The Bonds are issued pursuant to
and in full conformity with the Constitution and laws of the State of Minnesota thereunto
enabling, including Minnesota Statutes, Chapter 475. The Bonds are issuable only in fully
registered form, in denominations of $5,000 or any integral multiple thereof, of single
maturities.
The Bonds are not subject to optional redemption prior to maturity.
[COMPLETE THE FOllOWING PROVISIONS IF THERE ARE TERM BONDS-
ADD ADDITIONAL PROVISIONS IF THERE ARE MORE THAN TWO TERM BONDS]
[Bonds maturing in the years 20_ and 20_ shall be subject to mandatory
redemption, at a redemption price equal to their principal amount plus interest accrued
thereon to the redemption date, without premium, on February 1 in each of the years
shown below, in an amount equal to the following principal amounts:
Term Bonds Maturinq in 20--
Term Bonds Maturinq in 20--
Sinking Fund
Payment Date
Aggregate
Principal Amount
Sinking Fund
Payment Date
Aggregate
Principal Amount
$
$
The Issuer shall cause notice of the call for redemption thereof to be published if and
as required by law, and at least thirty and not more than 60 days prior to the designated
redemption date, shall cause notice of call for redemption to be mailed, by first class mail,
to the registered holders of any Bonds, at the holders' addresses as they appear on the
bond register maintained by the Bond Registrar, but no defect in or failure to give such
mailed notice of redemption shall affect the validity of proceedings for the redemption of
any Bond not affected by such defect or failure. Official notice of redemption having been
8
given as aforesaid, the Bonds or portions of Bonds so to be redeemed shall, on the
redemption date, become due and payable at the redemption price therein specified and
from and after such date (unless the Issuer shall default in the payment of the redemption
price) such Bonds or portions of Bonds shall cease to bear interest. Upon partial
redemption of any Bond, a new Bond or Bonds will be delivered to the owner without
charge, representing the remaining principal amount outstanding.]
As provided in the Resolution and subject to certain limitations set forth therein, this
Bond is.transferable upon the books of the Issuer at the principal office of the Registrar, by
the registered owner hereof in person or by the owner's attorney duly authorized in writing
upon surrender hereof together with a written instrument of transfer satisfactory to the
Registrar, duly executed by the registered owner or the owner's attorney, and may also be
surrendered in exchange for Bonds of other authorized denominations. Upon such transfer
or exchange the Issuer will cause a new Bond or Bonds to be issued in the name of the
transferee or registered owner, of the same aggregate principal amount, bearing interest at
the same rate and maturing on the same date, subject to reimbursement for any tax, fee or
governmental charge required to be paid with respect to such transfer or exchange.
The Bonds have been designated as "qualified tax-exempt obligations" pursuant to
Section 265(b)(3) of the Internal Revenue Code of 1986, as amended.
Notwithstanding any other provisions of this Bond, so long as this Bond is registered
in the name of Cede & Co., as nominee of The Depository Trust Company, or in the name
of any other nominee of The Depository Trust Company or other securities depository, the
Registrar shall pay all principal of and interest on this Bond, and shall give all notices with
respect to this Bond, only to Cede & Co. or other nominee in accordance with the
operational arrangements of The Depository Trust Company or other securities depository
as agreed to by the Issuer.
The Issuer and the Registrar may deem and treat the person in whose name this
Bond is registered as the absolute owner hereof, whether this Bond is overdue or not, for
the purpose of receiving payment and for all other purposes, and neither the Issuer nor the
Registrar shall be affected by any notice to the contrary.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts,
conditions and things required by the Constitution and laws of the State of Minnesota to be
done, to exist, to happen and to be performed prior to and in the issuance of this Bond in
order to make it a valid and binding general obligation of the Issuer in accordance with its
terms, have been done, do exist, have happened and have been performed as so required;
that the Issuer has established its General Obligation Improvement Refunding Bonds,
Series 2009D Bond Fund and has appropriated thereto certain ad valorem taxes levied
upon all taxable property in the Issuer, which ad valorem taxes are estimated to be
receivable in years and amounts not less than five percent in excess of the amounts
required to pay the principal of and interest on the Bonds when due; that if necessary for
payment of such principal and interest, additional ad valorem taxes are required to be
levied upon all taxable property in the Issuer, without limitation as to rate or amount; that
the issuance of this Bond, together with all other indebtedness of the Issuer outstanding on
the date hereof and on the date of its actual issuance and delivery, does not cause the
9
indebtedness of the Issuer to exceed any constitutional or statutory limitation of
indebtedness.
This Bond shall not be valid or become obligatory for any purpose or be entitled to
any security or benefit under the Resolution until the Certificate of Authentication hereon
shall have been executed by the Registrar by manual signature of one of its authorized
representatives.
IN WITNESS WHEREOF, the City of Golden Valley, Minnesota, by its City Council,
has caused this Bond to be executed on its behalf by the facsimile signatures of the Mayor
and City Manager and has caused this Bond to be dated as of the date set forth below.
CITY OF GOLDEN VALLEY, MINNESOTA
(facsimile siqnature City Manaqer)
(facsimile siqnature Mavor)
CERTIFICATE OF AUTHENTICATION
Dated:
This is one of the Bonds delivered pursuant to the Resolution mentioned within.
U.S. BANK NATIONAL ASSOCIATION, as Bond
Registrar
By
Authorized Representative
The following abbreviations, when used in the inscription on the face of this Bond, shall be
construed as though they were written out in full according to the applicable laws or regulations:
TEN COM - as tenants in common UTMA ................... as Custodian for ....... ..............
(Cust) (Minor)
TEN ENT - as tenants by the entireties under Uniform Transfers to Minors Act ..............
(State)
JT TEN -- as joint tenants with right of survivorship and not as tenants in common
Additional abbreviations may also be used.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and does hereby
irrevocably constitute and appoint attorney to transfer the said
Bond on the books kept for registration of the within Bond, with full power of substitution in
the premises.
Dated:
10
NOTICE: The assignor's signature to this assignment
must correspond with the name as it appears upon the
face of the within Bond in every particular, without
alteration or enlargement or any change whatsoever.
Signature Guaranteed:
Signature(s) must be guaranteed by an "eligible guarantor institution" meeting the
requirements of the Registrar, which requirements include membership or participation in
STAMP or such other "signature guaranty program" as may be determined by the Registrar
in addition to or in substitution for STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended.
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF
ASSIGNEE:
[End of the Bond form]
SECTION 3. USE OF PROCEEDS AND SECURITY
3.1. Bond Proceeds. Upon payment for the Bonds by the Purchaser, the City
Manager shall deposit and apply the proceeds of the Bonds as follows:
(a) $ shall be deposited in escrow with U.S. Bank National Association, in
St. Paul, Minnesota (the "Escrow Agent"), the funds so deposited, together with funds of
the Issuer in such amount as may be required, to be invested in securities authorized for
such purpose by Minnesota Statutes, Section 475.67, subdivision 8 (as directed by Section
475.67, Subdivision 13 thereof), maturing on such dates and bearing interest at such rates
as are required to provide funds sufficient, with cash retained in the escrow account, to pay
all interest to become due on the Bonds to and including the Crossover Date and to pay
and redeem the outstanding principal of the Refunded Bonds on the Crossover Date (and
the amounts in such account are irrevocably appropriated to such purposes);
(b) $ shall be used to pay issuance expenses of the Bonds; and
(c) $ shall be deposited in the Bond Fund created pursuant to Section 3.2
hereof. The Mayor and City Manager are hereby authorized to enter into an Escrow
Agreement with the Escrow Agent establishing the terms and conditions for the escrow
account in accordance with Minnesota Statutes, Section 475.67.
3.2. General Oblioation Improvement Refundino Bonds. Series 2009D Bond Fund.
So long as any of the Bonds are outstanding and any principal of or interest thereon
unpaid, the City Manager shall maintain a separate debt service fund on the official books
and records of the Issuer to be known as the General Obligation Improvement Refunding
Bonds, Series 2009D Bond Fund (the "Bond Fund"), and the principal of and interest on the
Bonds shall be payable from the Bond Fund. The Issuer irrevocably appropriates to the
Bond Fund (a) the amount specified in Section 3.1 above; (b) all receipts of principal and
interest on the investments held in the escrow account established pursuant to Section 3.1
to and including the Crossover Date (other than the sum of $5,420,000 received from
maturing investments on the Crossover Date to be used to retire the Refunded Bonds) (c)
commencing on the Crossover Date, special assessments pledged pursuant to the
resolution authorizing issuance of the Refunded Bonds; (d) ad valorem taxes collected in
11
accordance with the provisions of Section 3.3 hereof; and (e) such other funds as may be
appropriated from time to time by the Issuer to the Bond Fund to pay principal of and
interest on the Bonds. The moneys on hand in the Bond Fund from time to time shall be
used solely to pay the principal of and interest on the Bonds.
3.3. PledQe of TaxinQ Powers. For the prompt and full payment of the
principal of and interest on the Bonds as such payments respectively become due, the full
faith, credit and unlimited taxing powers of the Issuer shall be and are hereby irrevocably
pledged. In order to produce aggregate amounts which, together with collections of special
assessments pledged as described in Section 3.2 above, will produce not less than 5% in
excess of the amount needed to meet when due the principal and interest payments on the
Obligations, ad valorem taxes are hereby levied on all taxable property in the Issuer. The
taxes are to be levied and collected in the following years and amounts:
Levy Years
Collection Years
Amount
See attached Levy Computation
The taxes shall be irrepealable as long as any of the Bonds are outstanding and unpaid,
provided that the Issuer reserves the right and power to reduce the tax levies in accordance
with the provisions of Minnesota Statutes, Section 475.61.
SECTION 4. DEFEASANCE. When all of the Bonds have been discharged as provided in
this Section, all pledges, covenants and other rights granted by this Resolution to the
Holders of the Bonds shall cease. The Issuer may discharge its obligations with respect to
any Bonds which are due on any date by depositing with the Registrar on or before that
date a sum sufficient for the payment thereof in full, or if any Bond should not be paid when
due, it may nevertheless be discharged by depositing with the Registrar a sum sufficient for
the payment thereof in full with interest accrued from the due date to the date of such
deposit. The Issuer may also discharge its obligations with respect to any prepayable
Bonds called for redemption on any date when they are prepayable according to their terms
by depositing with the Registrar on or before that date an amount equal to the principal,
interest and redemption premium, if any, which are then due, provided that notice of such
redemption has been duly given as provided herein. The Issuer may also at any time
discharge its obligations with respect to any Bonds, subject to the provisions of law now or
hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with
the Registrar or with a bank or trust company qualified by law to act as an escrow agent for
this purpose, cash or securities which are authorized by law to be so deposited for such
purpose, bearing interest payable at such times and at such rates and maturing or callable
at the holder's option on such dates as shall be required to pay all principal and interest to
become due thereon to maturity or, if notice of redemption as herein required has been
irrevocably provided for, to an earlier designated redemption date, provided, however, that
if such deposit is made more than ninety days before the maturity date or specified
redemption date of the Bonds to be discharged, the Issuer shall have received a written
opinion of Bond Counsel to the effect that such deposit does not adversely affect the
exemption of interest on any Bonds from federal income taxation and a written report of an
accountant or investment banking firm verifying that the deposit is sufficient to pay when
due all of the principal and interest on the Bonds to be discharged on and before their
maturity dates or earlier designated redemption date.
12
SECTION 5. CERTIFICATION OF PROCEEDINGS.
5.1. Reqistration of Bonds. The City Manager is hereby authorized and directed to
file a certified copy of this resolution with the County Auditor of Hennepin County (the
"County Auditor") and obtain a certificate that the Bonds have been duly entered upon the
County Auditor's bond register and the tax required by law has been levied.
5.2. Authentication of Transcript. The officers of the Issuer and the County Auditor
are hereby authorized and directed to prepare and furnish to the Purchaser and to Dorsey
& Whitney LLP, Bond Counsel, certified copies of all proceedings and records relating to
the Bonds and such other affidavits, certificates and information as may be required to
show the facts relating to the legality and marketability of the Bonds, as the same appear
from the books and records in their custody and control or as otherwise known to them, and
all such certified copies, affidavits and certificates, including any heretofore furnished, shall
be deemed representations of the Issuer as to the correctness of all statements contained
therein.
5.3. Official Statement. The Official Statement relating to the Bonds, dated
, 2009, prepared and delivered on behalf of the Issuer by Springsted
Incorporated, is hereby approved, and the officers of the Issuer are hereby authorized and
directed to execute such certificates as may be appropriate concerning the accuracy,
completeness and sufficiency thereof. Springsted Incorporated is hereby authorized on
behalf of the Issuer to prepare and distribute to the Purchaser within seven business days
from the date hereof a supplement to the Official Statement listing the offering price, the
interest rates, selling compensation, delivery date, the underwriters and such other
information relating to the Bonds as is required to be included in the Official Statement by
Rule 15c2-12 adopted by the Securities and Exchange Commission (the "SEC") under the
Securities Exchange Act of 1934. The officers of the Issuer are hereby authorized and
directed to execute such certificates as may be appropriate concerning the accuracy,
completeness and sufficiency of the Official Statement.
SECTION 6. TAX COVENANTS; ARBITRAGE MATTERS AND CONTINUING
DISCLOSURE.
6.1. General Tax Covenant. The Issuer covenants and agrees with the registered
owners from time to time of the Bonds that it will not take or permit to be taken by any of its
officers, employees or agents, any action which would cause the interest on the Bonds to
become includable in gross income of the recipient under the Code and applicable
Treasury Regulations (the "Regulations"), and covenants to take any and all affirmative
actions within its powers to ensure that the interest on the Bonds will not become
includable in the gross income of the recipient underthe Code and the Regulations. The
Issuer has not and will not enter into any lease, management contract, operating
agreement, use agreement or other contract relating to the use or operation of the facilities
refinanced by the Bonds, or any portion thereof, or security for the payment of the Bonds
which would cause the Bonds to be considered "private activity bonds" or "private loan
bonds" pursuant to Section 141 of the Code.
6.2. Arbitraqe Certification. The Mayor and City Manager, being the officers of the
Issuer charged with the responsibility for issuing the Bonds pursuant to this resolution, are
13
authorized and directed to execute and deliver to the Purchaser a certificate in accordance
with the provisions of Section 148 of the Code and Section 1.148-2(b) of the Regulations
stating the facts, estimates and circumstances in existence on the date of issue and
delivery of the Bonds which make it reasonable to expect that the proceeds of the Bonds
will not be used in a manner that would cause the Bonds to be arbitrage bonds within the
meaning of the Code and Regulations.
6.3. Arbitraoe Rebate. The Issuer acknowledges that the Bonds are subject to the
rebate requirements of Section 148(f) of the Code. The Issuer covenants and agrees to
retain such records, make such determinations, file such reports and documents and pay
such amounts at such times as are required under said Section 148(f) and applicable
Regulations to preserve the exclusion of interest on the Bonds from gross income for
federal income tax purposes, unless the Bonds qualify for an exception from the rebate
requirement pursuant to one of the spending exceptions set forth in Section 1.148-7 of the
Regulations and no "gross proceeds" of the Bonds (other than amounts constituting a
"bona fide debt service fund") arise during or after the expenditure of the original proceeds
thereof.
6.4. Qualified Tax-Exempt Oblioations. The City Council hereby designates the
Bonds as "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code
relating to the disallowance of interest expense for financial institutions, and hereby finds
that the reasonably anticipated amount of tax-exempt obligations which are not private
activity bonds (not treating qualified 501 (c)(3) bonds under Section 145 of the Code as
private activity bonds for the purpose of this representation) and are not excluded from this
calculation by Section 265(b)(3)(C)(ii) of the Code which will be issued by the Issuer and all
subordinate entities during calendar year 2009 does not exceed $30,000,000.
6.5. Redemption of Refunded Bonds. The City Manager is hereby directed to
advise U.S. Bank National Association, as paying agent for the Refunded Bonds, to call the
Refunded Bonds for redemption and prepayment on the Crossover Date and to give notice
of redemption in accordance with the resolution authorizing the issuance of the Refunded
Bonds. A form of notice of redemption is attached hereto.
6.6. Continuino Disclosure. (a) Purpose and Beneficiaries. To provide for the
public availability of certain information relating to the Bonds and the security therefor and
to permit the Purchaser and other participating underwriters in the primary offering of the
Bonds to comply with amendments to Rule 15c2-12 promulgated by the SEC under the
Securities Exchange Act of 1934 (17 C.F.R. ~ 240.15c2-12), relating to continuing
disclosure (as in effect and interpreted from time to time, the "Rule"), which will enhance
the marketability of the Bonds, the Issuer hereby makes the following covenants and
agreements for the benefit of the Owners (as hereinafter defined) from time to time of the
Outstanding Bonds. The Issuer is the only obligated person in respect of the Bonds within
the meaning of the Rule for purposes of identifying the entities in respect of which
continuing disclosure must be made. The Issuer has complied in all material respects with
any undertaking previously entered into by it under the Rule. If the Issuer fails to comply
with any provisions of this section, any person aggrieved thereby, including the Owners of
any Outstanding Bonds, may take whatever action at law or in equity may appear
necessary or appropriate to enforce performance and observance of any agreement or
covenant contained in this section, including an action for a writ of mandamus or specific
14
performance. Direct, indirect, consequential and punitive damages shall not be
recoverable for any default hereunder to the extent permitted by law. Notwithstanding
anything to the contrary contained herein, in no event shall a default under this section
constitute a default under the Bonds or under any other provision of this resolution. As
used in this section, Owner or Bondowner means, in respect of a Bond, the registered
owner or owners thereof appearing in the bond register maintained by the Registrar or any
Beneficial Owner (as hereinafter defined) thereof, if such Beneficial Owner provides to the
Registrar evidence of such beneficial ownership in form and substance reasonably
satisfactory to the Registrar. As used herein, Beneficial Owner means, in respect of a
Bond, any person or entity which (a) has the power, directly or indirectly, to vote or consent
with respect to, or to dispose of ownership of, such Bond (including persons or entities
holding Bonds through nominees, depositories or other intermediaries), or (b) is treated as
the owner of the Bond for federal income tax purposes.
(b) Information To Be Disclosed. The Issuer will provide, in the manner set forth in
subsection (c) hereof, either directly or indirectly through an agent designated by the
Issuer, the following information at the following times:
(1) on or before 365 days after the end of each fiscal year of the Issuer, commencing
with the fiscal year ending December 31, 2008, the following financial information
and operating data in respect of the Issuer (the "Disclosure Information"):
(A) the audited financial statements of the Issuer for such fiscal year, containing
balance sheets as of the end of such fiscal year and a statement of
operations, changes in fund balances and cash flows for the fiscal year then
ended, showing in comparative form such figures for the preceding fiscal
year of the Issuer, prepared in accordance with generally accepted
accounting principles promulgated by the Financial Accounting Standards
Board as modified in accordance with the governmental accounting
standards promulgated by the Governmental Accounting Standards Board
or as otherwise provided under Minnesota law, as in effect from time to
time, or, if and to the extent such financial statements have not been
prepared in accordance with such generally accepted accounting principles
for reasons beyond the reasonable control of the Issuer, noting the
discrepancies therefrom and the effect thereof, and certified as to accuracy
and completeness in all material respects by the fiscal officer of the Issuer;
and
(B) to the extent not included in the financial statements referred to in
paragraph (A) hereof, the information for such fiscal year or for the period
most recently available of the type contained in the Official Statement under
headings: City Property Values; City Indebtedness; and City Tax Rates,
levies and Collections.
Notwithstanding the foregoing paragraph, if the audited financial statements are not
available by the date specified, the Issuer shall provide on or before such date unaudited
financial statements in the format required for the audited financial statements as part of
the Disclosure Information and, within 10 days after the receipt thereof, the Issuer shall
provide the audited financial statements. Any or all of the Disclosure Information may be
15
incorporated by reference, if it is updated as required hereby, from other documents,
including official statements, which have been submitted to each of the repositories
hereinafter referred to under subsection (c) or the SEC. If the document incorporated by
reference is a final official statement, it must be available from the Municipal Securities
Rulemaking Board. The Issuer shall clearly identify in the Disclosure Information each
document so incorporated by reference. If any part of the Disclosure Information can no
longer be generated because the operations of the Issuer have materially changed or been
discontinued, such Disclosure Information need no longer be provided if the Issuer includes
in the Disclosure Information a statement to such effect, provided, however, that if such
operations have been replaced by other Issuer operations in respect of which data is not
included in the Disclosure Information and the Issuer determines that certain specified data
regarding such replacement operations would be a Material Fact (as defined in paragraph
(2) hereof), then, from and after such determination, the Disclosure Information shall
include such additional specified data regarding the replacement operations. If the
Disclosure Information is changed or this section is amended as permitted by this
paragraph (b)(1) or subsection (d), then the Issuer shall include in the next Disclosure
Information to be delivered hereunder, to the extent necessary, an explanation of the
reasons for the amendment and the effect of any change in the type of financial information
or operating data provided.
(2) In a timely manner, notice of the occurrence of any of the following events which
is a Material Fact (as hereinafter defined):
(A) Principal and interest payment delinquencies;
(B) Non-payment related defaults;
(C) Unscheduled draws on debt service reserves reflecting financial difficulties;
(D) Unscheduled draws on credit enhancements reflecting financial difficulties;
(E) Substitution of credit or liquidity providers, or their failure to perform;
(F) Adverse tax opinions or events affecting the tax-exempt status of the
security;
(G) Modifications to rights of security holders;
(H) Bond calls;
(I) Defeasances;
(J) Release, substitution, or sale of property securing repayment of the
securities; and
(K) Rating changes.
As used herein, a Material Fact is a fact as to which a substantial likelihood exists that a
reasonably prudent investor would attach importance thereto in deciding to buy, hold or sell
a Bond or, if not disclosed, would significantly alter the total information otherwise available
to an investor from the Official Statement, information disclosed hereunder or information
generally available to the public. Notwithstanding the foregoing sentence, a Material Fact
is also an event that would be deemed material for purposes of the purchase, holding or
sale of a Bond within the meaning of applicable federal securities laws, as interpreted at the
time of discovery of the occurrence of the event.
(3) In a timely manner, notice of the occurrence of any of the following events or
conditions:
16
(A) the failure of the Issuer to provide the Disclosure Information required under
paragraph (b)(1) at the time specified thereunder;
(B) the amendment or supplementing of this section pursuant to subsection (d),
together with a copy of such amendment or supplement and any
explanation provided by the Issuer under subsection (d)(2);
(C) the termination of the obligations of the Issuer under this section pursuant to
subsection (d);
(D) any change in the accounting principles pursuant to which the financial
statements constituting a portion of the Disclosure Information are prepared;
and
(E) any change in the fiscal year of the Issuer.
(c) Manner of Disclosure. The Issuer agrees to make available the information described
in subsection (b) to the following entities by telecopy, overnightdelivery, mail or other
means, as appropriate:
(1) the information described in paragraph (1) of subsection (b), to each then
nationally-recognized municipal securities information repository ("NRMSR")
under the Rule, provided that from and after July 1, 2009, the Electronic
Municipal Market Access System ("EMMA") operated by the MSRB as a
NRMSR shall be the primary repository for continuing disclosure under the Rule;
(2) the information described in paragraphs (2) and (3) of subsection (b), to the
MSRB;
(3) the information described in subsection (b), to any rating agency then
maintaining a rating of the Bonds at the request of the City and, at the expense
of such Bondowner, to any Bondowner who requests in writing such information,
at the time of transmission under paragraphs (1) or (2) of this subsection (c), as
the case may be, or, if such information is transmitted with a subsequent time of
release, at the time such information is to be released; and
(4) all documents provided to the MSRB shall be accompanied by identifying
information as prescribed by the MSRB.
(d) Term: Amendments: Interpretation.
(1) The covenants of the Issuer in this section shall remain in effect so long as any
Bonds are Outstanding. Notwithstanding the preceding sentence, however, the
obligations of the Issuer under this section shall terminate and be without further
effect as of any date on which the Issuer delivers to the Registrar an opinion of
Bond Counsel to the effect that, because of legislative action or final judicial or
administrative actions or proceedings, the failure of the Issuer to comply with the
requirements of this section will not cause participating underwriters in the
primary offering of the Bonds to be in violation of the Rule or other applicable
requirements of the Securities Exchange Act of 1934, as amended, or any
statutes or laws successory thereto or amendatory thereof.
17
(2) This section (and the form and requirements of the Disclosure Information) may
be amended or supplemented by the Issuer from time to time, without notice to
(except as provided in paragraph (c)(3) hereof) or the consent of the Owners of
any Bonds, by a resolution of this Council filed in the office of the recording
officer of the Issuer accompanied by an opinion of Bond Counsel, who may rely
on certificates of the Issuer and others and the opinion may be subject to
customary qualifications, to the effect that: (i) such amendment or supplement
(a) is made in connection with a change in circumstances that arises from a
change in law or regulation or a change in the identity, nature or status of the
Issuer or the type of operations conducted by the Issuer, or (b) is required by, or
better complies with, the provisions of paragraph (b)(5) of the Rule; (ii) this
section as so amended or supplemented would have complied with the
requirements of paragraph (b)(5) of the Rule at the time of the primary offering
of the Bonds, giving effect to any change in circumstances applicable under
clause (i) (a) and assuming that the Rule as in effect and interpreted at the time
of the amendment or supplement was in effect at the time of the primary
offering; and (iii) such amendment or supplement does not materially impair the
interests of the Bondowners under the Rule.
If the Disclosure Information is so amended, the Issuer agrees to provide,
contemporaneously with the effectiveness of such amendment, an explanation
of the reasons for the amendment and the effect, if any, of the change in the
type of financial information or operating data being provided hereunder.
(3) This section is entered into to comply with the continuing disclosure
provisions of the Rule and should be construed so as to satisfy the requirements of
paragraph (b)(5) of the Rule.
Linda R. Loomis, Mayor
ATTEST:
Susan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
and upon a vote being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.
18
NOTICE OF REDEMPTION
$10,300,000 General Obligation Improvement Bonds, Series 2002A
Dated as of June 15, 2002
City of Golden Valley, Minnesota
NOTICE IS HEREBY GIVEN THAT there have been called for redemption and
prepayment on February 1, 2011, all outstanding Bonds of the above-referenced issue
maturing on February 1 in the following years and having the interest rates and CUSIP
numbers listed below:
Maturity Amount CUSIP Rate Maturi Amount CUSIP Rate
t1 !Y t1
2012 $ 640,000 * 4.00% 2016 $ 825,00 * 4.50%
0
2013 650,000 * 4.20 2017 865,00 * 4.60
0
2014 750,000 * 4.30 2018 905,00 * 4.625
0
2015 785,000 4.40
* indicates full call.
The Bonds will be redeemed at a price of 100% of their principal amount plus accrued
interest to the date of redemption. Holders of the Bonds should present them for payment
to U.S. Bank National Association, St. Paul, Minnesota, successor to U.S. Bank Trust
National Association, on or before said date, when they will cease to bear interest, in the
following manner:
If bv Mail:
If bv Hand or Overniaht Mail:
U.S. Bank National Association
60 Livingston Avenue
EP-MN-WS3C
Bond Drop Window, 1 st Floor
St. Paul, MN 55107
U.S. Bank National Association
Corporate Trust Operations, 3rd Floor
P.O. Box 64111
St. Paul, MN 55164-0111
In compliance with the Interest and Dividend Compliance Act of 1983 and Broker Reporting
Requirements, the redeeming institutions are required to withhold 31% of the principal
amount of your holdings redeemed unless they are provided with your social security
number or federal employer identification number, properly certified. This requirement is
fulfilled through the submitting of a W-9 Form, which may be obtained at a bank or other
financial institution.
20
Additional information may be obtained from the undersigned or from Springsted
Incorporated 85 E. Seventh Place, Suite 100, St. Paul, Minnesota 55101 (651-223-3000),
financial consultant to the City of Golden Valley.
Dated:
,20_.
BY ORDER OF THE CITY COUNCIL OF
GOLDEN VALLEY, MINNESOTA
/s/
City Manager
21
ESCROW AGREEMENT
THIS ESCROW AGREEMENT, made and entered into by and between
the City of Golden Valley, Minnesota (the Issuer) and U.S. Bank National Association in
St. Paul, Minnesota (the Agent);
WITNESSETH, that the parties hereto recite and, in consideration of the
mutual covenants and payments referred to and contained herein, covenant and agree
as follows:
1. The Issuer has duly issued and presently has outstanding an issue of
General Obligation Improvement Bonds, Series 2002A, in the original principal amount
of $10,300,000, dated, as originally issued, as of June 15, 2002 (the "Series 2002A
Bonds"), and has issued its $5,665,000 General Obligation Improvement Refunding
Bonds, Series 20090, dated as of June 1, 2009, a portion of which (the "Refunding
Bonds"), is to be applied to advance refund on February 1, 2011, those outstanding
bonds of the above issue maturing in the years 2012 through 2018, aggregating
$5,420,000 in principal amount (the "Refunded Bonds"), in a crossover refunding
pursuant to Minnesota Statutes, Section 475.67, subd. 13.
2. The Issuer has also, in accordance with a resolution adopted June 2,
2009 (the Resolution), simultaneously with the execution of this Agreement, transmitted
proceeds of the Refunding Bonds in the amount of $ to the Agent to be
used as follows:
(a) $ to purchase an equivalent principal amount of
federal securities, as identified in Exhibit A attached hereto and
(b) $ to be deposited as a beginning cash balance in the
Escrow Account hereinafter established.
In the opinion of , certified public accountants, the federal
securities designated in paragraph (a) mature at such times and bear interest at such
rates that the collections of principal and interest thereon, together with the initial cash
balance designated in paragraph (b), will produce the amounts shown on Exhibit B
attached hereto to be applied against the interest due on the Refunding Bonds to and
including February 1, 2011 (the "Crossover Date"), and will be sufficient to pay the
principal amount of the Refunded Bonds called for redemption on the Crossover Date.
3. The Agent agrees to apply the funds received from the Issuer in the
manner and for the purposes set forth in Section 2 hereof and this Section. The Agent
acknowledges receipt of the cash and federal securities described in Section 2 and
agrees that it will hold such cash and federal securities in a special escrow account (the
"Escrow Account") in the name of the Issuer, and will collect and receive on behalf of
the Issuer all payments of principal and interest on such securities and, prior to and
including the Crossover Date, will remit from the Escrow Account to the Paying Agent
for the Refunding Bonds, moneys sufficient for the payment of interest on the Refunding
Bonds as such becomes due. On the Crossover Date, the Agent will, as paying agent
for the Refunded Bonds (the "Refunded Bonds Paying Agent"), apply the sum of
$5,420,000 from the Escrow Account to payment of the principal of the Refunded Bonds
called for redemption on the Crossover Date. Any remaining funds in the Escrow
Account after such transfer shall be remitted to the Issuer. The Agent will, not fewer
than 30 days prior to the Crossover Date, mail the Notice of Redemption relating to the
Refunded Bonds attached to the Resolution to be mailed to the holders of all Refunded
Bonds to be redeemed on the Crossover Date.
4. In order to ensure continuing compliance with the Internal Revenue
Code of 1986, as amended (the Code), and present Treasury Regulations promulgated
thereunder (the Regulations), the Agent agrees that it will not reinvest any cash
received in payment of the principal of and interest on the federal securities held in the
Escrow Account. Said prohibition on reinvestment shall continue unless and until an
opinion is received from nationally recognized bond counsel that reinvestments in
general obligations of the United States or obligations the principal of and interest on
which are guaranteed as to payment by the United States, as specified in said opinion,
may be made in a manner consistent with the Code and then existing Regulations. The
federal securities described in Exhibit A hereto may, at the written direction of the
Issuer, be replaced, in whole or in part, with general obligations of the United States or
obligations the principal of and interest on which are guaranteed as to payment by the
United States and which mature as to principal and interest in such amounts and at
such times as will assure the availability of sufficient moneys to make payment when
due of the interest on the Refunding Bonds to and including the Crossover Date, and
will be sufficient to pay the principal amount of the Refunded Bonds called for
redemption on the Crossover Date; provided, however, that concurrently with such
written direction, the Issuer shall provide the Agent with (a) a certification of an
independent certified public accountant as to the sufficiency of the federal securities to
be subject to this Agreement following such replacement and as to the yields thereof,
setting forth in reasonable detail the calculations underlying such certification, (b) an
unqualified opinion of nationally recognized bond counsel to the effect that such
replacement (1) will not cause the Refunded Bonds or the Refunding Bonds to be
subjected to treatment as "arbitrage bonds" under Section 148 of the Code and (2) is
otherwise in compliance with this Agreement. Any replacement authorized by this
paragraph shall be accomplished by sale, transfer, request for redemption or other
disposition of all or a portion of the federal securities described in Exhibit A hereto with
the proceeds thereof being applied to the purchase of substitute federal securities, all as
specified in the written direction of the Issuer.
5. The duties and obligations of the Agent shall be as prescribed by the
provisions of this Agreement and the Agent shall not be liable hereunder except for
failure to perform its duties and obligations as specifically set forth herein or to act in
good faith in the performance thereof and no implied duties or obligations shall be
incurred by the Agent other than those specified herein. The Agent acknowledges that
arrangements satisfactory to it for payment of its compensation for all services to be
performed by it as Agent under this Agreement have been made. The Agent expressly
waives any lien upon or claim against the moneys and investments in the Escrow
Account.
6. Within 60 days following the close of each fiscal year and close of the
Escrow Account, the Agent shall submit to the Issuer a report covering all money it shall
have received and all payments it shall have made or caused to be made hereunder
during the preceding fiscal year or portion thereof.
7. It is recognized that title to the federal securities and money held in the
Escrow Account from time to time shall remain vested in the Issuer but subject always
to the prior charge and lien thereon of this Agreement and the use thereof required to
be made by the provisions of this Agreement. The Agent shall hold all such money and
obligations in a special trust fund and account separate and wholly segregated from all
other funds and securities of the Agent or deposited therein. It is understood and
agreed that the responsibility of the Agent under this Agreement is limited to the
safekeeping and segregation of the moneys and securities deposited with it in the
Escrow Account, and the collection of and accounting for the principal and interest
payable with respect thereto.
8. This Agreement is made by the Issuer for the benefit of the holders of
the Refunding Bonds and the Refunded Bonds, as their interests may appear, under
and pursuant to Minnesota Statutes, Section 475.67, and is not revocable by the Issuer,
and the investments and other funds deposited in the Escrow Account and all income
therefrom have been irrevocably appropriated for the payment of interest on the
Refunding Bonds prior to and including the Crossover Date and the payment and
redemption of the Refunded Bonds on said date, in accordance with this Agreement.
This Agreement may not be amended except to (i) sever any clause herein deemed to
be illegal, (ii) provide for the reinvestment of funds or the substitution of securities as
permitted by Section 4 hereof or (iii) cure any ambiguity or correct or supplement any
provision herein which may be inconsistent with any other provision, provided that the
Agent shall determine that any such amendment shall not adversely affectthe owners
of the Refunded Bonds. In the event an amendment to this Agreement is proposed to
be made pursuant to this Section 8, prior notice shall be given by first class mail,
postage prepaid, to the following organization at the following address (or such other
address as may be provided by the addressee) and shall be deemed effective upon
receipt: Moody's Municipal Rating Desk/Refunded Bonds, 99 Church Street, New York,
New York 10007.
9. This Agreement shall be binding upon and shall inure to the benefit of
the Issuer and the Agent and their respective successors and assigns. In addition, this
Agreement shall constitute a third party beneficiary contract for the benefit of the
holders of the Refunding Bonds and Refunded Bonds, as their interests may appear.
Said third party beneficiaries shall be entitled to enforce performance and observance
by the Issuer and the Agent of the respective agreements and covenants herein
contained as fully and completely as if said third party beneficiaries were parties hereto.
10. Upon merger or consolidation of the Agent, if the resulting corporation
is a bank or trust company authorized by law to conduct such business, such
corporation shall be authorized to act as successor Agent. Upon the resignation of the
Agent, which shall be communicated in writing to the Issuer, or in the event the Agent
becomes incapable of acting hereunder, the Issuer reserves the power to appoint a
successor Agent. No resignation shall become effective until the appointment of a
successor Agent by the Issuer.
IN WITNESS WHEREOF the parties hereto have caused this Agreement
to be duly executed by their duly authorized officers, on June _' 2009.
CITY OF GOLDEN VALLEY
By
Its Mayor
And
Its City Manager
[Signature Page to Escrow Agreement dated as of June _, 2009]
u.s. BANK NATIONAL ASSOCIATION, Agent
By
Its
[Signature Page to Escrow Agreement dated as of June _,2009]
EXHIBIT A
ESCROW ACCOUNT CASH RECEIPTS FROM SECURITIES PURCHASED WITH
REFUNDING BOND PROCEEDS AND PROOF OF YIELD
Resolution 09-34
June 2, 2009
Member
introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING ISSUANCE AND SALE OF $5,665,000 GENERAL
OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 20090
BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota (the
"City"), as follows:
SECTION 1. PURPOSE. It is hereby determined to be in the best interests of the City to
issue its General Obligation Equipment Improvement Refunding Bonds, Series 20090, in a
principal amount not to exceed $5,665,000 (the "Bonds"), pursuant to Minnesota Statutes,
Chapter 475, to refund on February 1, 2011 (the "Refunding"), the 2012-2018 maturities of
the City's General Obligation Improvement Bonds, Series 2002A, dated, as originally
issued, as of June 15, 2002, which maturities are presently outstanding in the principal
amount of $5,420,000 (the "Refunded Bonds"). February 1, 2011 (the "Crossover Date") is
the earliest date upon which the Refunded Bonds may be redeemed without payment of
premium.
SECTION 2. TERMS OF PROPOSAL; SALE. Springsted Incorporated, financial consultant
to the City, has presented to this Council a form of Preliminary Official Statement for the
Bonds which is attached hereto and hereby approved and shall be placed on file by the
Clerk. Each and all of the provisions of the Preliminary Official Statement are hereby
adopted as the terms and conditions of the Bonds and of the sale thereof. Springsted
Incorporated is hereby authorized, pursuant to Minnesota Statutes, Section 475.60,
Subdivision 2, paragraph (9), to solicit proposals for the Bonds on behalf of the City on a
negotiated basis, and the City Manager, or such other City official as the City Manager
designates in writing prior to the receipt of such proposals, is hereby authorized to approve
the sale of the Bonds and to execute a bond purchase agreement for the purchase of the
Bonds, provided that the sale must be on such terms as provide that as of the Crossover
Date, the sum of (i) the present value of the debt service on the Bonds, computed to their
stated maturity dates, after deducting any premium, using the yield of the Bonds as the
discount rate, plus (ii) any expenses of the refunding payable from a source other than the
proceeds of the Bonds or investment earnings thereon, is lower by at least 3.1 % than the
present value of the debt service on the Refunded Bonds, exclusive of any premium,
computed to their stated maturity dates, using the yield of the Bonds as the discount rate.
SECTION 3. SALE MEETING. Upon approval of the sale of the Bonds by the City
Manager, the City Council will take action at its next regularly scheduled meeting thereafter
to adopt the necessary approving resolutions as prepared by the City's bond counsel. If the
City Manager or such officer's designee has not approved the sale of the Bonds and
executed the related bond purchase agreement by December 31,2009, this resolution shall
expire.
Linda R. Loomis, Mayor
ATTEST:
Susan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member and
upon a vote being taken thereon, the following voted in favor thereof: and the following
voted against the same: whereupon said resolution was declared duly passed and
adopted, signed by the Mayor and her signature attested by the City Clerk.
M morandum
Police Department
763-593-8079 I 763-593-8098 (fax)
Executive Summary For Action
Golden Valley City Council Meeting
June 2, 2009
Agenda Item
6. B. On-Sale, Off-Sale, Sunday Sale, Club, Wine On-Sale and Non-Intoxicating Malt Liquor
License Renewals
Prepared By
Stacy A. Altonen, Chief of Police
Jim Roberts, Sergeant
Summary
The following establishments have applied for renewal of their liquor licenses for the 2009-
2010 license term. The applicants meet City Code and State requirements for the renewal of
their licenses.
Off-Sale
Byerly Beverages, Inc. d/b/a Byerly's Wine & Spirits
Golden Valley Liquor Barrel, Inc. d/b/a Golden Valley Liquor Barrel
Ha Tien Liquor, Inc. d/b/a MGM Liquor Warehouse
Adelemor, Inc. d/b/a United Liquors #2
SGS Enterprises, Inc. d/b/a Westview Liquors
Off-Sale. On-Sale and Sunday Sale
RZMP Corporation d/b/a Schuller's Tavern
On-Sale and Sunday Sale
D'Amico Catering, LLC, d/b/a Metropolitan Ballroom and Clubroom
GMRI, Inc. d/b/a Red Lobster
Majors Sports Cafe of Golden Valley, Inc. d/b/a Majors Sports Cafe
The Samurai, Inc. d/b/a Benihana
Golden Valley Country Club
Chipotle Mexican Grill of Colorado LLC d/b/a Chipotle Mexican Grill
Scoreboard, Inc. d/b/a J.J.'s Clubhouse
Cliff Corporation d/b/a Doolittles
Webb Golden Valley LLC d/b/a Good Day Cafe
Prom Management Group, Inc. d/b/a Prom Catering
On-Sale
Buon Amico Inc. d/b/a Piazza's Ristorante
Club On-Sale and Sunday Sale
Chester Bird American Legion Post #523
Golden Valley VFW Post #7051
Wine On-Sale (includino strono beer) and Non-Intoxicatino Malt Liauor
D'Amico and Sons, Inc. d/b/a D'Amico and Sons
Hastings Enterprises Corp. d/b/a Martini's Graffiti Grille
The Noodle Shop, Inc. - Colorado Inc. d/b/a/ Noodles & Company
Recommended Action
Motion to approve the renewal of the respective liquor licenses for the applicants listed above
for the 2009-2010 license term.