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04-17-12 CC Agenda Packet (entire) AGENDA Regular Meeting of the City Council Golden Valley City Hall 7800 Golden Valley Road Council Chamber April 17, 2012 6:30 pm The Council may consider item numbers 1, 2, 3, 5 and 6 prior to the public hearings scheduled at 7 pm 1. CALL TO ORDER PAGES A. Roll Call B. Pledge of Allegiance C. Presentation of Gertificate of Recognition - National Teachers Hall of Fame 3 Induction - Scott Charlesworth-Seiler 2. ADDITIONS AND CORRECTIONS TQ 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 discussian of these items unless a Council Member or citizen so requests in which event the item will be remoued from the general order of business and considered in its normal sequence on the agenda. A. Approval af Minutes - City Cauncil Meeting - March 6, 2Q12 4-13 B. Approval of Check Register 14 C. Licenses: 1. General Business Licenses 15 2. Gambling License Exemption and Waiver of Notice Requirement - Lube- 16-19 Tech/MnUSA Region 8, Inc. D. Minutes of Boards and Commissions: 1. Planning Commission - March 15, 2012 20-30 2. Joint Water Commission - February 8, 2012 31-33 E. Bids and Quotes 1. Asphalt Overlay - Quotes 34-36 2. Sealcaat - Quotes 37-38 F. Letters, Emails and/or Petitions: 1. Email from Daniel Blumb Regarding Resignation from the Human Services 39 Fund 2. Letter fram Chris Monroe Regarding Resignation from the Human Services 40 Fund G. Approval of Full Extension for Filing of Plat and Submitting Final PUD Plan 41-44 Application - PUD #107 - The Towers at West End - Southwest Quadrant of I-394 and Highway 100 - Duke Realty, Applicant H. Support far Minneapolis Park and Recreation Board's Application for Hennepin 45-47 County Environmental Response Fund Grant 12-28 I. Proclamation for National Public Works Week - May 20-26 48-49 3. CONSENT AGENDA - CONTINUED J. Authorization to Sign Amended Agreement with City of St. Louis Park for Emergency 50-53 Command Center Vehicle K. Receipt of March 2Q12 Financial Reports 54-6Q L. Authorization to Approve Sending a Written Request to Hennepin Caunty 61-63 Administrator and Request Hennepin County Board Provide Public Safety Dispatch Services 12-29 4. PUBLIC HEARINGS 7 PM A. Public Hearing - Renaming Golden Hills Redevelopment Plan - I-394 Corridor 64-88 Redevelopment Area Plan - Amend Geographic Area and Plan Text 12-30 B. Public Hearing - Ordinance #482 - Amending Section 11.70, Regarding Minimum 89-103 Number of Off-Street Parking Spaces 5. OLD BUSINESS 6. NEW BUSINESS A. Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and 104-172 Providing for the Payment of: 1. $1,605,000 General Obligation Improvement Bonds, Series 2012A 12-31 2. $725,000 General Obligation Equipment Certificates, Series 2012B 12-32 3. $6,110,000 Refinancing General Obligation Bonds, Series 2012C 12-33 and Authorization to Sign Escrow Agreement B. First Consideration - Ordinance #483 - Amendment to the Master Fee Schedule - 173-174 Vehicle Forfeiture C. Direct Environmental Gommission to Study Whether the City Code Shauld be 175-178 Amended to Allow a Person to Keep or Harbor Chickens D. Announcements of Meetings E. Mayor and Council Communications � This docurnent is available in aiternate formats upon a 72-hour request. Please call 763-593-8006 (TTY: 763-593-3968)to make a request. Examples of alt�rnate formats may includ� large print,electron��ic, Brai�lle, audiocass�tt�, e�c. � C l��10� r:;,.,. Ci�y Administration/Council 763-593-8003!763-593-81 Q9(fax) m w__�-m�.��_.��..:f��;F�°"��.��y-�m"�4�`� �� ..� � � � x� F�-. � =�, �. �� y .. .,� � e._:a, .��, � �.:��s,�_� �� ,�:�.��,�� ,�� Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 1. C. Presentation of Certificate of Recognition - National Teachers Hall of Fame Induction - Scott Charlesworth-Seiler Prepared By Thomas Burt, City Manager Summary The City Council would like to acknowledge and recognize Scott Charlesworth-Seiler as an inductee into the National Teachers Hall of Fame. Scott Charlesworth-Seiler teaches �t the Fire Arts Interdisciplinary Resource (FAIR) School in Crystal but is a resident of Golden Valley. He has taught in the Robbinsale School District for 16 years. He is one of five teachers throughout the Country that are being inducted. Regular Meeting of the City Council March 6, 2012 Pursuant to due call and notice thereof, a regular meeting of the Gity Council of the City of Golden Valley, Hennepin County, Minnesota was held at 78Q0 Golden Valley Road in said City on March 6, 2012 at 6:30 pm. The following members were present: Clausen, Freiberg, Harris, Pentel and Scanlon. Also present were: Chantell Knauss, Assistant, City Manager; Jeannine Clancy, Director of Public Works; Allen Barnard, City Attorney; and Judy Nally, Administrative Assistant. Pled�e of Alleqiance The Pledge of Allegiance was recited. Approval of Aqenda MOVED by Scanlon, seconded by Freiberg and motion carried unanimausly to approve the agenda of March 6, 2012 as submitted. Approval of Consent Aqenda MOVED by Scanlon, seconded by Clausen and motion carried unanimously to approve the agenda of March 6, 2012 as submitted. Approval of Minutes - Citv Council, Planninq Commission, Environmental Commission and Open Space and Recreation Commission - Januarv 30, 2012 and City Council Meetinq - Februarv 6, 2012 MOVED by Scanlvn, seconded by Glausen and motion carried unanimously to approve the City Council, Planning Gommission, Environmental Commission and Open Space and Recreation Commission of January 30, 2012 and City Council Meeting of February 6, 2012 as submitted. *Approval of Check Reqister MOVED by Scanlon, seconded by Clausen and matian carried unanimously to authorize the payment of the City bills as submitted. *General Business Licenses MOVED by Scanlon, seconded by Clausen and motion carried unanimously to authorize the issuance of licenses as recommended by staff. Regular Meeting of the City Council March 6, 2012 Page 2 �`Rental Propertv Licenses MOVED by Scanlon, seconded by Clausen and motion carried unanimously to authorize the issuance of licenses as recommended by staff. *Solicitor's License - Clean Water Action MOVED by Scanlon, seconded by Clausen and motion carried unanimously to approve the solicitor's license for Clean Action Water. *Minutes of Boards and Commissions MOVED by Scanlon, seconded by Clausen and motion carried unanimously to receive and file the minutes as follows: � Human Services Fund - January 9, 2012 Environmental Commission - January 23, 2012 Board of Zaning Appeals - December 27, 2011 Open Space and Recreation Commission - January 30, 2012 Authorization to Siqn Contract with Prairie Restorations, Inc. for Restoration and Maintenance of Native Plant Communities Council Member Pentel complimented Prairie Restoration, Inc. on the restaratians they have completed in areas of the City, Jeannine Clancy answered questions from the CounciL MOVED by Pentel, seconded by Scanion and motion carried unanimously to authorize the Contract for Professional Services with Prairie Restoration, Inc. for the 2012 Golden Valley Restoration and Maintenance of Native Plant Communities in the amount of$26,275. *Adoption of Traffic Siqn Manaqement Policv Member Scanlon introduced the following resolution and moved its adoption: RESOLUTION 12-13 RESOLUTION AQOPTING CITY'S TRAFFIC SIGN MANAGEMENT POLICY The motion for the adoption of the foregoing resolution was seGOnded by Member Clausen and upon a vote being taken thereon, the following voted in favor thereof: Clausen, Freiberg, Harris, Pentel and Scanlon; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted, signed by the Mayor and his signature attested by the City Clerk. Regular Meeting of the City Council March 6, 2012 Page 3 �`Authorization to Siqn Aqreement with Missions Inc./Home Free for pomestic Assault Intervention Services MOVED by Scanlon, seconded by Clausen and motion carried unanimausly to authorize the City Manager sign the agreement with Missions Inc./Hame Free for domestic assault intervention services. *Authorization to Submit Communitv Development Block Grant Application for Pesch Place Rehabilitation Proiect - 2000 Marv Hills Drive Member Scanlon introduced the following resolution and moved its adoption: RESOLUTION 12-14 RESOLUTION APPROVING PROPOSED APPLICATION FOR 2012 URBAN HENNEPIN COUNTY COMMUNITY DEVELOPMENT BLQCK GRANT (CDBG) PRQGRAM FUNDS AND AUTHORIZING EXECUTION OF SUBRECIPIENT AGREEMENT WITH URBAN HENNEPIN COUNTY AND ANY THIRD PARTY AGREEMENTS The motion for the adoption of the foregoing resolution was seconded by Member Clausen and upon a vote being taken thereon, the following voted in favor thereof: Clausen, Freiberg, Harris, Pentel and Scanlon; and the fallowing voted against the same: none, whereupon said resolution was declared duly passed and adopted, signed by the Mayor and his signature attested by the City Clerk. *Authorization to Siqn Amended Joint Powers Aqreement with Minnesota Bureau of Criminal Apprehension for eCharqinq Court Data Services Member Scanlon introduced the following resolution and moved its adoption: RESOLUTION 12-15 RESQLUTIQN AUTHQRIZING THE POLICE DEPARTMENT TO SIGN THE COURT DATA SERVICES SUBSCRIBER AMENDMENT WITH THE BUREAU OF GRIMINAL APPREHENSI4N (BCA) FOR ACCESS TO COURT DATA SERVICES THRQUGH eCHARGING The motion for the adoption of the foregoing resolution was seconded by Member Clausen and upon a vote being taken thereon, the following voted in favor thereof: Clausen, Freiberg, Harris, Pentel and Scanlon; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted, signed by the Mayor and his signature attested by the City Clerk. Regular Meeting of the City Council March 6, 2012 Page 4 *First Consideration - Ordinance #481 -Amending Section 10.84, Providinq for Appeal Process for Disqualified Applicants The following ordinance was MOVED by Scanlon, seconded by Clausen: ORDINANCE NO. 481, 2ND SERIES AN ORDINANCE AMENDING THE CITY CODE Amending Section 10.84, Providing for Appeal Process for Disqualified Applicants MOVED by Scanlon, seconded by Clausen and motion carried to adopt on First Cansideration Ordinance #481, 2nd Series. The vote was as follows: CLAUSEN - YES FREIBERG - YES HARRIS - YES PENTEL - YES SCANLON - YES Public Hearinq - Preliminary Desiqn Plan Approval - PUD No. 109 - Eldridqe 3rd Addition - 4900 Triton Drive - A.K.A.R.E. Companies LLC, Applicants Allen Barnard reviewed the law regarding quasi-judicial hearings and recammended that Council Members should disclose for the record who they had contact with regarding the proposal before the hearing and indicate generally the substance of the contact and whether the Council Member had an open mind about the proposal and answered questions from the Council. Mayor Harris stated his contact list is not readily available and asked if it could be filed at a later date and since the law is still evolving suggested the Council discuss the item at a future Council/Manager meeting. He did state that he did attend a meeting with some of the neighborhood residents near the Triton Drive neighborhoad and had conversations with other residents and spoke with people on both sides of the issue. He also stated he did have calls where people requested their names be kept confidential, and stated he has yet to make up his mind on the proposal. Gouncil Member Pentel disclosed for the record that she responded to three emails with a generic response, had one conversation with former Council Member Bob Shaffer and that she has not made a decision on the project. Council Member Freiberg stated he felt confident that the Cauncil had not made up their mind on the issue, stated he is a little uncomfortable with disclosing who he has had contact with as he feels residents assume that any email and/or conversation will remain private, agreed it should be discussed at a Council/Manager meeting and requested staff contact the League of Minnesota Cities to get a legal opinion. Council Member Clausen felt residents may feel intimated in letting the Council know how they feel about proposals and it is important to communicate with residents and stated that Council decisions cannot be made prior to the public hearings on proposals. Regular Meeting of the City Council March 6, 2012 Page 5 Public Hearinq - Preliminarv Desiqn Plan Approval - PUD No. 109 - Eldridqe 3rd Addition - 4900 Triton Drive -A.K.A.R.E. Companies LLC, Applicants - Continued Council Member Scanlon stated she spoke with Ray Anderson, Lynn Mattson, Bob Shaffer and Linda Loomis, responded to three emails, two of which were generic and have not responded to any ather emails. Mark Grimes, Director of Planning and Development, reviewed the PUD process, presented the staff report and answered questions from the Council. Curt Fretham, Lakewest Development, applicant, reviewed the plan and answered questions from the Council. Peter Knaeble, Terra Engineering, and Rob Eldride, A.K.A.R.E. Companies, answered questions from the Gouncil. Chuck Segelbaum, Planning Commissioner presented the Cammission report and answered questions from the Council. Jeff Oliver, City Engineer, Allen Barnard, Jeannine Clancy, AI Lundstrom, Park Supervisor; and Chantell Knauss answered questions from the Council. The Mayor opened the meeting for public input and persons present to do so were afforded the opportunity to express their views thereon. Mafit Stockhaus, 4825 Lowry Terrace, distributed a petition and material and spoke on behalf of the residents who signed the petition; stated they are not just against the project because they don't like change, they plan on living in the neighborhood long-term; feels the development is in contrast to the comprehensive plan and PUQ purpose; wants to protect and respect the traditional neighborhood; feels the new homes will loom over the current hames; would like to see environmentally sustainable green building practices; follow tree preservation and grading ordinance, restore native vegetation, reduce light in the night sky, preserve and protect desirable site characteristics, open space including steep slopes, trees, scenic view, water ways, wetlands, and wildlife. Ray Anderson, 3142 Quail Avenue North, distributed material and showed pictures of developments in St. Louis Park, pointed out the differences in size and contrast to the older homes in the block, feels there is not much congruity between the new hauses being built, there was no consistency between the newer homes being built and the older homes in the area; stated he didn't want what happened in St. Louis park to happen in his neighborhood, and stated he talked to a resident who lived there and the new homes replaced the waods �filed with wildlife which he does not see anymore. Regular Meeting of the City Council March 6, 2012 Page 6 Public Hearinq - Preliminarv Desiqn Plan Approval - PUD No. 109 - Eldridqe 3rd Addition - 4900 Triton Drive - A.K.A.R.E. Companies LLC, Applicants - Continued Barbara Gaasedelen, 3026 Perry Avenue North, submitted a petition; stated people moved into a well-established neighborhood because of the short streets, children can play in the street, minimal traffic; feels the addition of the cul-de-sac will change the character of the neighborhood; add additional car trips; wants to see the current street architecture maintained; suggested only two homes be allowed to be built on Triton Drive; would like to see the side and front setbacks maintained; feels additional setbacks in the rear of the property should protect the trees; feels they should build fewer homes with less infrastructure. Dana Zuraff, 4840 Lowry Terrace, expressed concern about safety of children; feels the retention pond will be a breeding ground for mosquitos' and West Nile virus; concern for heavy machinery using the utility easement and causing damage to established trees and landscaping; suggested trenched or French drains be used at the end of the driveways for water run-off ar detention barrels underground; wanted to know about the sentiment, contaminants and pollution in the ponds, asked if the debris from the pond will be removed prior to residents moving into the homes; concerned about how much water is in the pond and about children drowning in the pond. Timothy Shallbetter, 9141 Xylite, Blaine, stated he is the former owner of 4900 Triton Drive, suggested the Council walk the property; stated that when he lived their he neuer saw neighbors as there are very high hedges; stated he had to chase the kids from the woods because they would build attractive nuisances; suggested the parents keep watch an their children; stated he is not for or against the project; stated it is one of the original farm houses in the City; thinks the PUD is a good plan; stated a lot of the trees will be remaining on the lot; stated he has no stake in the property. Mary Fontana, 4845 33rd Avenue North, had questions regarding the tree preservation plan, what happens after the project is complete; asked how the trees will be taken care of during the construction process; what happens to the remaining trees and what the best management process is; feels the raot zone around the trees should be bigger, stated some of the best trees an the property will be removed; stated some of the trees on the survey were mismarked; asked about tree after care and who mvnitors the trees after the project is completed. Jack Terrio, 3139 Qrchard Avenue North, expressed concern that people have not looked at the property and not aware of the steep layout of the land; had questions about sewer lines to the home; how will they work and where they will be located; grading of the site and location of power lines, had questions regarding wells and septic tanks on the site. Regular Meeting of the City Council March 6, 2012 Page 7 Public Hearinq - Preliminary Desiqn Plan Approval - PUD No. 109 - Eldridqe 3rd Addition - 4900 Triton Drive -A.K.A.R.E. Companies LLC, Applicants - Continued Bob Hagen, 4815 Culver Road, feels aesthetics are part of the price of a home and the fabric of the neighborhood; doesn't want to see fifteen garage doors stacked up against each other; doesn't want to see nothing but paving, feels there should be a conservation easement for the wooded area of the lots, suggested that only four of fewer homes be built on the site. Mike Ernst, 4845 Lowry Terrace, expressed concern over the safety of the kids in the neighborhood, stated his five year old doesn't understand property lines; feels there should be a bio filtration system for the water issues, opposed to a fence around the pond as it would be a trapping hazard, wanted to know if a neighborhood meeting was held who would conduct the meeting, doesn't feel it wauld be productive as all the concerns have been expressed at the public hearing. Fred Reiter, 3146 Quail Avenue North, wanted to know how long the developer has been meeting with the city, feels the decision should be postponed for eight week in order to give the neighborhood more time to review the proposal; feels the neighborhood doesn't have all the fact about the site, wanted to know if it is in a wetland, asked if a rain garden is feasible; stated the site has had water issues; stated he realizes the developer has rights but want the neighbarhood and the developer ta come to an agreement; expressed concern for the trees on the perimeter, amount of pervious surface; asked if other water plans were considered; suggested a conservation easement, asked if a non-profit could take over the easement. Bob Gullick, 3000 Perry Avenue North, asked if there was a compromise, could 2, 3 or 4 homes be built, would like a discussion with the neighborhood on the number of homes. Bob Shaffer, 3125 Quail Avenue North, stated he feels this is a fairly decent development; feels the developer has tried to do what is best for the site; does think the woods are an amenity but it is someone else's land and they should have to right to do what they want on their own property just as he has the right to do what he wants on his property; suggested taking a look at the area long-term like 25-50 years; stated some of the area was built in the 1950's and at one time the area was farm land, stated that in the past some of the homes built then were also considered an imposition to the someone in the past; stated if the lots get bigger the homes on the lot's will be bigger and they may seem out of character in the neighborhood, the small the lot the smaller the home being built. The Mayor closed the public hearing. Regular Meeting of the City Council March 6, 2012 Page 8 Public Hearinq - Preliminarv Desiqn Plan Approval - PUD No. 109 - Eldridqe 3rd Addition - 4900 Triton Drive -A.K.A.R.E. Companies LLC, Applicants - Continued MOVED by Scanlon, seconded by Clausen and motion carried unanimously ta approve the preliminary PUD plan for Eldridge 3rd Addition PUD No. 109, subject to the following conditions: 1. The recommendations and requirements outlined in the memo from Deputy Fire Marshal Ed Anderson to Mark Grimes, Director of Planning and Development dated December 28, 2011, shall become part of this approvaL 2. The recommendations and requirements outlined in the memo fram City Engineer Jeff Oliver, PE, to Mark Grimes, Director of Planning and Development, dated February 8, 2012, shall become a part of this approvaL 3. All signs on the property must meet the requirements of the City's Sign Code. 4. The Preliminary PUD Design Plan packet for Eldridge 3rd Addition PUD No. 109 prepared forA.K.A.R.E. Companies LLC by Terra Engineering, Inc., Sheets 1-1Q shal! become a part of this appraval subject to amendments required by the City Engineer as noted in his memo to Mark Grimes dated February 8, 2012. 5. The five lots within the development shall be subject to the setbacks shown on Sheet No. 4. Na house shall be higher than 28 feet as stipulated in the zoning code. Hawever, the side setback noted on the plan shall not increase with the increase of house height. 6. The Planning Commission finds that Eldridge 3rd Addition PUD No. 109 is cansistent with the Intent and Purpase provision found in Section 11.55: Planned Unit Development, Subd. 1; and other PUD requirement and principles and development standards adhered to by the City. 7. If the developer would like to construct a model home and have public access to it prior to completion of the street, it must be done in a manner approved by the Building Official and Director of Inspections. 8. This appraval is subject to all other state, federal, and local ardinances, regulations, or laws with authority aver this development. 9. Direct staff to work with the developer tQ reduce the size of the rear housing envelope. 10.A neighborhood meeting with the residents, developer and staff will be held prior to Planning Commission consideration of final plan approval. In addition the Gouncil makes the following findings pursuant to City Code Section 11.55, Subd. 5(E)(1): 1. Quality Site Planning. The PUD plan is tailored to the specific characteristics of the site and achieves a higher quality of site planning and design than generally expected under conventianal provisions of the ordinance. 2. Preservation. The PUD plan preserves and protects substantial desirable portions of the site's characteristics, open space and sensitive environmental features including steep slopes, trees, scenic views, creeks, wetlands and open waters. 3. Efficient - Effective. The PUD plan includes efficient and effective use (which includes preservation) of the land. Regular Meeting of the City Council March 6, 2012 Page 9 Public Hearinq - Preliminarv Desiqn Plan Approval - PUD No. 109 - Eldridqe 3rd Addition - 4900 Triton Drive - A.K.A.R.E. Companies LLC, Applicants - Continued 4. Compatibility. The PUD Plan results in development compatible with adjacent uses and is consistent with the Comprehensive Plan and redevelopment plans and goals. 5. General Health. The PUD plan is consistent with preserving and improving the general health, safety and general welfare of the people of the City. 6. Meets Requirements. The PUD plan meets the PUD Intent and Purpase provision and all other PUD ordinance provisions. Letter to Minneapolis Park Board Reqardinq Natural Area and Stormwater Manaqement in Theodore Wirth Park Mayor Harris introduced the agenda item. Rich Baker, Chair, Environmental Commission, presented the Commission report and answered questions from the Council. MOVED by Scanlon, seconded by Freiberg and motion carried unanimously to authorize the Mayor to sign the letter regarding Wirth Park storm cleanup to the Minneapolis Park and Recreation Board. Reinstatement of the Deputv Reqistrar Mayor Harris introduced the agenda item and answered questians from the Council. Chantell Knauss and Allen Barnard answered questions from the Gauncil. MOVED by Freiberg, seconded by Scanlon and motion carried unanimously to receive and file the draft bill, as amended, add "preliminary" before recommendations in (2), pertaining to the reinstatement of the City's deputy registrar office. Announcements of Meetinqs Some Council Members may attend the Golden Valley Historical Society Meeting on March 8, 2012 at 7 pm at the Golden Valley Historical Society. The City Council will conduct board/commission interviews on March 13, 2012 beginning at 6 pm. A Special Housing and Redevelopment Authority Meeting will be held on March 13, 2012 at 6:30 pm. The next Council/Manager meeting witl be held on March 13, 2012 at after the Special Housing and Redevelopment Authority Meeting. Regular Meeting of the City Councii March 6, 2012 Page 10 Announcements of Meetinqs - Continued A Skywarn Awareness Class will be held on March 13, 2012 at 6:3Q pm at the Brookview Community Center. A Bassett Creek Watershed Management Commission meeting will be held an March 15, 2012 at 11:30 am. Some Council Members may attend the Caring Youth Recognition on March 15, 2012 at 7 pm at the Minnetonka Community Center. The next City Council meeting will be held on March 20, 2012 at 6:30 pm. Mayor and Council Communications Mayor Harris congratulated staff on maintaining the ice rinks at the City parks and snowplowing of streets. The Golden Valley Women's Club "Spring Fling" will be held on April 28, 2012. Mayor Harris updated the public on the community notification meeting held on March 5, 2012 and commended staff on the meeting. Ad,journment MOVED by Freiberg, seconded by Pentel and motion carried unanimously to adjourn the meeting at 11:31 pm. Shepard M. Harris, Mayor ATTEST: Judy Nally, Administrative Assistant a �:1�r�� t�� Finance Department 763-593-8013/763-593-8109(fax) �w.....��'��'...�r..:::—r°��'�:�e�:,a�..�'�':.,a�,.-�a: ... ... . ..,,_,�°�°.3=:�s��..��.�`r.,. �i4��"d4aen�a�;�'��.x�.'—�_�:.,� .:S�w�.�v.` .... � . ...r. .�, '��. .��,;�` .. .. . Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3, B. Approval of City Check Register Prepared By Sue Virnig, Finance Director Summary Approval of the check register for various vendor claims against the City af Golden Valley. Attachments Document sent via email Recommended Action Motion to authorize the payment of the bills as submitted. G��`�J �� ,�� Inspecfiions Department 763-593-8090/763-593-3997 (fax) Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. C. 1. General Business Licenses Prepared By Kathryn Pepin and Jill Lund, Administrative Assistants Summary As per City Code, some businesses are required to be licensed by the City. Listed below are the License Number, Applicant, License Type and Fee of those who have submitted an application for approval. #5435 Menards Fireworks $100.00 6800 Wayzata Boulevard #5116 Brown Bear LLC 2 Refuse Vehides $100.OQ d/b/a Garbageman, Inc. 5315 Sunset Lane #5115 Vintage Waste Systems 3 Refuse Vehicles $150.00 5315 Pioneer Creek Drive Recommended Action Motion to authorize the issuance of licenses as recommended by staff. �� City Administratian/Cauncil 763-593-3991 /763-593-8109(fax) " .��.�� ;�_ �� '��:� :� `��:.... .. . �. �� . ..x3.��.�;�:.. '��;�",�� z�:. %��:��:�. .. ,� ;��"�:_��-; _._ ._ �� .�,��e . =.e. Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. C. 2. Gambling License Exemption and Waiver of Notice Requirement- Lube-TechjMnUSA Region 8, Inc. Prepared By Judy Nally, Administrative Assistant Summary As per State Statute organizations that canduct gambling within the City limits have to submit an application for a lawful gambling permit to the State after the permit has been approved or denied by the City. Depending upon the timing of the permit the applicants may request the City to waive the 30-day waiting period. Attachments • Application for Exempt Permit (2 pages) • Letter from Lube-Tech requesting�waiver of 30 day waiting period (1 page) Recommended Action Motion to receive and file the gambling ticense exemption and approve the waiver of notice requirement for Lube-Tech/MnUSA. Minnesota LawfulGamb/ing Paye� of2 si�� LG220 Application for Exempt Permit Application fee i i s mar r iv An exempt permit may be issued to a nonprofit organization that: less than 30 days ore than 30 days � - conducts lawful gambling on five or fewer days, and before the event before the event - awards less than $50,000 in prizes during a calendar year. $100 $50 ORGANTZATIQN INFORMATION chee�# ; $ Organization name Previous gambling permit number MnUSA Region 8, Inc. n/a Minnesota tax ID number, if any Federal employer ID number, if any n/a 26-0815885 Type of nonprofit organization. Check one. � Fraternai � Religious � Veterans � Other nonprofit organization Mailing address City State Zip Code County 4600 Winnetka Ave. N. New Hope MN 55428 Hennepin Name of chief executive officer (CEO) Daytime phone number Email address ' Terry Hutchinson 612-581-6627 snowman49@integra.net Attach a copy ofQ,L(E of the#allowing for proo#of nonprofi#statws. Do not attach a sa�es tax exempt status or federal employer ID number as they are not proof of nonprofit status. �IonproFt Articles of Incorporation OR a current Certificate of Good SWnding . Don't have a copy? This certificate must be obtained each year from: Secretary of State, Business Services Div., 180 State O�ce Building,St. Paul, MN 55155 Phone: 651-296-2803 �IRS income tax exemption[501(c)]letter in your organization's name. Don't have a copy? To obtain a copy of your federal income tax exempt letter,have an organization officer contact the IRS at 877-829-5500. �IRS-A�liate of national,statewide,or internatio�al parent nonprofit organization(charter) If your organization falls under a parent organization,attach copies of � of the following: a. IRS letter showing your parent organization is a nonproflt 501(c)organization with a group ruling, and b. the charter or letter from your parent organization recognizing your organization as a subordinate. GAMBLING PREMISES INFORMATTON Name of premises where the gambling event will be conducted. For raffles, list the site where the drawing will take place. Lubrication Technologies, Inc. Address (do not use PO box) City or township Zip Code County 900 Mendelssohn Ave. N. Golden Valley 55427 Hennepin Date(s) of activity(for raffles, indicate the date of the drawing) July 13, 2012 Check the box or boxes that indicate the type of gambling activity your organization will conduct: Bingo* � Raffles Paddlewheels* Pull-Tabs* Tipboards* * Gambling equipment for pull-tabs, bingo paper, tipboards, and paddlewheels must be obtained from a distributor licensed by the Gambling Contro! Board. EXCEPTION: Bingo hard cards and bingo number selection devices may be borrowed from another organization authorized to conduct bingo. To find a li�ensed distributor, go to www.gcb.state.mn.us and click on List of Licensed Distributors, or call 651-639-4000. LG220 Application for Exempt Permit Page 2 of 2 5/11 LOCAL UNIT OF GOVERNMENT A�KNOWLEDGMENT If the gambling premises is within city limits, If the gambling premises is located in a township, a a city official must check the action that the city is county official must check the action that the county is taking on this application and sign the application, taking on this application and sign the application. A township official is not required to sign the application. The application is acknowledged with no waiting The application is acknowledged with no waiting period. peripd. The application is acknowledged with a 30 day The application is acknowiedged with a 30 day waiting period, and allows the Board to issue a waiting period, and allows the Board to issue a permit after 30 days (60 days for a ist class city). permit after 30 days. The application is denied. _The appiication is denied. Print county name � �a��f Print city name �-�� `�1 On behalf of the county, I acknowledge this application. On behalf of the city, I acknow/edge this application. Signature of county personnel receiving application Si na ure f city personnel receiving application Title Date Ti � Date � J �Z-- (Optional) TOWNSHIP: On behalf of the township,I acknowledge that the organization is applying for exempted gambling acYivity within the township limits. [A townshlp has no statutory authority to approve or deny an application [Minnesota Statute 349.166)] Print township name Signature of township official acknowledging application Title Date CHIEF EXECUTIVE OFFICER'S SIGNATURE The information provided in this application is comp/ete and accurate to the best of my knowiedge. I acknow/edge that the financial report wrl! be completed and �eturned to the Board within 30 days of the date of our gambling activity. Chief executive officer's signatur --- Date ��' Complete a separate application for each gambling event: Financial report and recordkeeping • one day of gambling activity required • two or more consecutive days of gambling activity A financial report form and instructions will • each day a raffle drawing is held be sent with your permit, or use the online fill-in form available at Send application with: www.gcb.state.mn.us. Within 30 days of the • a copy of your proof qf nonprofit status, and activity date, complete and return the • application fee for each event financial report form to the Gambling Make check payable to "SEate of Minnesota." Control Board. Questions? To: Gambling Control Board Call the licensing Section of the Gambling 1711 West County Road B, Suite 300 South Control Board at 651-639-4000. Roseville, MN 55113 ` This form will be made available in altemative format(i.e.large print, Braille) upon request. Data privacy notice: The information Your organization's name and private data about your organization are available requested on this form (and any address will be public information to: Board members, Board staff whose work attachments) will be used by the Gambling when received by the Board. All requires access to the information; Minnesota's Control Board (Board)to determine your other information provided will be Department of Public Safety;Attorney General; organization's qualifications to be involved private data about your Commissioners of Administration, Minnesota in lawfui gambling activities in Minnesota. organization until the Board Management&Budget,and Revenue; Legislative Your organization has the right to refuse to issues the permit. When the Auditor, national and international gambling supply the information; howeve r, if your Board issues the permit, all regulatory agencies; anyone pursuant to court organization refuses to supply this information provided will become order; other individuals and agencies specifically ;information, the Board may not be abie to public. If the Board does not authorized by state or federal law to have access 'determine your organization's qualifications issue a permit, all information to the information; individuals and agencies for and, as a consequence,may refuse to issue provided remains private,with the Which law or legal order authorizes a new use or a permit. If your organization supplies the exception of your organization's sharing of information after this notice was given; information requested, the Board will be name and address which will and anyone with your written consent. able to process your organization's remain public. � � ��„#�, � application. - , : �,��::3 wr;: ��...;: ��1�11��■■�� L U I3 E ■ T E C H LUf3RICATION TECHNOLOGIES , INC . Apri13,2012 Ms. Judy Nally Administrative Assistant City of Golden Valley 7800 Golden Valley Rd. Golden Valley,MN 55427 Dear Judy, An employee of Lube-Tech suffered a serious injury which resulted in paralysis. Polaris Industries donated an ATV for a fund raising event on his behalf. Lube-Tech is working with MnUSA Region 8 Inc. and the fundraiser will be registered through them. The actual event will be conducted at Lube-Tech's corporate office in Golden Valley on July 13,2012.We respectfully request that the City Council waive the customary 30 day waiting period for the exemption for lawful gambling permit required for this type of event. Sincerely, v v �� Warren Peterson Lubrication Technologies, Inc. Regular Meeting of the Golden Valley Planning Commission March 15, 2012 A regular meeting of the Planning Commission was held at the Golden Valley City Hall, Council Chambers, 7800 Golden Valley Road, Golden Valley, Minnesota, on Thursday, March 15, 2Q12. Chair Waldhauser called the meeting to order at 7 pm. Those present were Planning Commissioners, Cera, Kisch, Kluchka, McCarty, Schmidgall, Segelbaum and Waldhauser. Also present was Director of Planning and Development Mark Grimes and Administrative Assistant Lisa Wittman. 1. Approval of Minutes February 13, 2012 Regular Planning Commission Meeting McCarty stated that he misunderstaod the motion regarding the pubtic hearing for the proposed PUD on Triton Drive. He said that if he had understaod it he would have changed his vote. The Commission discussed their understanding of the motion and suggested that McCarty write a letter to the Council explaining his concerns. MOVED by Schmidgall, seconded by Cera and motion carried unanimously to approve the F�bruary 13, 2012 minutes as submitted. 2. Informal Public Hearing — Subdivision — 15 Meadow Lane North — SU08-10 Applicant: Golden Valley Land Co. — Matt Pavek Address: 15 Meadow Lane North Purpose: Ta allow the applicant ta divide one single family residential lot into four single family residential lots (the existing hame will remain) Grimes referred to a site plan of the property and explained that the applicant is propasing ta keep the existing home and divide the 2.1 acre lot into four single family residential lots. He stated that the applicant is requesting a variance of 5 feet to allow the corner lot (Lot 2) to be 95 feet in width instead of 100 feet as required along Meadow Lane North. (The applicant's original request was for Lot 2 to be 90 feet in width).He stated that all of the proposed lots exceed the minimum lot size requirement and conform to fhe requirements of the Comprehensive Plan and the Zoning Code. Waldhauser asked if the variance request will haue to go to #he Board of Zoning Appeals. Grimes said no and explained that the City Council would grant variances from the Subdivision Code whereas the Board af Zoning Appeals would grant variances from the Zoning Code. Waldhauser referred to the City Engineer's staff repart where it states that a buffer around the pond is "encouraged." She questioned if the buffer could be required in order to help Minutes of the Golden Valley Planning Commission March 15, 2012 Page 2 filter the water. Grimes stated that the applicant prefers to keep the existing landscaping that currently exists around the pond. McCarty noted that a buffer would also help keep geese out of the pond. Segelbaum asked where the additional 5 feet came from in order to make the corner lot 95 feet in width rather than 9Q feet as originally proposed. Grimes stated that the applicant shifted the lots in order to make the corner lot be 95 feet in width. Waldhauser asked about the setback from the wetland. Grimes stated that there is a 25- faot setback required from the wetland. Kluchka referred to the Planning staff report where it states that corner lots have to 20 feet greater than interior lots and asked for clarification. Grimes explained that the Subdivisian Code requires interior lots to be 80 feet in width and corner lots to be 100 feet width, which is 20 feet greater. Kisch asked if both property lines along a corner lot have to measure 100 feet in width. Grimes said both property lines are required to be 100 feet in width and explained that the width of a lot is measured at the front setback line and the narrower side af a lot is considered to be the front. Segelbaum noted that one of the criteria for approval listed in the Planning staff report states that a subdivision request shall be denied if the proposed lots do not meet the requirements of the appropriate zoning district. Grimes stated that the proposed lots can meet the requirements of the Single Family Zoning District; the variance request is from the Subdivision Code. Se�elbaum asked if the City has any authority to deny this proposal. Grimes said, in his opinion, no. Waldhauser clarified that there are two issues. One is the subdivision request and one is the variance request. She suggested they vote on the items separately. McCarty referred to the City Engineer's memo where it states that the builder must "ensure" that each stormwater management plan submitted meets the lowest floor elevation requirements. He said he thinks the word "ensure" is ambiguous and hard to enforce. Grimes explained that the applicant, per ordinance, wilf have to submit stormwater management plans that meet the City's requirements. Kluchka asked Grimes if he is aware of any covenants on this property that would limit the ability to subdivide it. Grimes said no. Peter Knaeble, Terra Engineering, explained that all of the plans submitted represent conforming lots. He explained that they are asking for a variance on the width of Lot 2 as an aptional plan that would allow Lot 3 to be shifted slightly in order to allow the house to be built further away from the pond. He stated that if the City doesn't feel that the variance is justifiable they can still do the project using conforming lot widths. Knaeble referred to a site plan of the property and reiterated that the praposal is to keep the existing home and allow three new homes to be built which he feels is a benefit to Golden Valley. Minutes of the Golden Valley Planning Commissian March 15, 2012 Page 3 Knaeble stated that each lot will be custom graded and they are estimating 20 out of the 128 trees, or 15% of the trees will be removed. The tree preservation plan allows up to 40% of the trees ta be removed. He explained that they've looked at several options and if the existing house were remaved there could be six conforming lots on this property. He noted that the lots they are proposing are fairly large and will be bigger than the average lots in the neighborhood. He explained that they have three goals in developing this property. One is to keep the existing house and design large lots around it, the second goal is to maintain the look of the pond view on the corner lot (Lot 4) and third goal is to maintain the perimeter trees as much as possible. He showed the Commissian an illustration of other subdivisions done in the area and noted that this is the last of the lots in this area that hasn't been subdivided. Knaeble showed the Commission a picture of the pond and said his goal is to keep it the way it is, without the recommended vegetative buffer. He said he understands the requirements regarding the buffer area but a buffer strip would not be appropriate in this location because of the size of the watershed. Waldhauser asked about the maintenance of the pond. Knaeble stated that three properties will share the maintenance responsibility and will also meet the City and watershed requirements. He added that the City will have a public drainage and utility easement over the pond and an access easement an Meadaw Lane which they do not currently have today. McCarty asked Knaebls why he is against having the vegetative buffer strip around the pond. Knaeble said he thinks a 10 to 15-foot un-mown buffer strip will ruin the views and be a detriment to the neighborhood. He added that the existing grass around the pond will pravide some filtration. Kluchka asked Knaeble if there is any history af the pond flooding. Knaeble said he wasn't aware of a history of the pond flooding. Waldhauser asked about the elevation of the house on Lot 3 compared to the elevation of the pond. Knaeble stated that the pond has an elevation of 859 and the lowest floor elevation will be 2 feet above that. Waldhauser asked where the 25-foot setback from the pond is measured from. Knaeble stated that the setback is measured from the edge of the delineated wetland edge, not the water. Segelbaum referred to Lot 3 and asked how far away the house would be from the pond if the requested variance is granted. Knaeble said the variance would allow the home on Lot 3 ta be shifted five feet to north so the home would then be approximately 30 feet away from the pond. Kisch noted that another 350 square feet of floor space could be added to the house if the variance were granted. Kluchka asked if any consideration was given to subdividing the property into three lots instead of faur. Knaeble said no and reiterated that they are looking at subdividing the property into four lots with no variances. He added that they would like to have the 5-foot variance but they don't need it to subdivide the property. Minutes of the Golden Valley Planning Commission March 15, 2012 Page 4 Waldhauser opened the public hearing. Donald Brawne, 4135 Leber Lane, said his immediate concern is the pand and he was pleased to learn that it won't be filled in. His second concern is regarding the quality of the houses being built and if there were just 3 lots total it would alleviate some his concerns. He added that this neighborhood is more historic than others and he wants ta know what kind af protection there will be. Leone Fox, 4125 Leber Lane, said she has a problem with flooding and the entire area was once swampland. She stated that when the original owner of the subject property built the house he was told he had to install the pond, so it is not purely decorative and at various times it averflows. She said the more structures that are built the less room there is for water to seep into the ground. She stated that three years ago the pond overflowed and water went into the existing home's basement. She asked that a special study be done and the DNR be consulted before anything is done. Anna Murray, 12 Meadow Lane North, said there have been 3, 100-year rains since 1979 and water comes gushing down Meadow Lane causing the drains to get filled up with debris and the pond to overflaw. She said Lot 4 is very low, will hav� to be "built up" and will drain toward the pond. She referred to the proposed driveway on Lot 4 and said she would be Iooking at that long driveway and she doesn't understand why there can't be a shorter driveway onto Glenwood rather than the praposed long driveway onto Meadow Lane. She added that she thought there was a Supreme Gourt law that says variances can't be granted unless a lot can't be built on at aIL Mary Jo Browne, 4135 Leber Lane, said her concern is the way the praposed driveways are configured. She stated that there is a median with a sign on Meadow Lane and the sign gets knock�d down, so the driveways coming onto Meadow Lane with the concrete median seems to be too much for this lot. She stated that she doesn't want to have to be watching for cars coming out of the driveways every time she drives down Meadow Lane. She asked if the new houses will be compatible with the neighborhood and questioned why the driveways can't be on Glenwood instead of Meadow Lane. Peter Knaeble explained that the homeowner on Lot 4 could ask to have a driveway on Glenwood but they would need permission from the County ta da so. He said he assumes the homeowner would want to have their driveway on a quieter street, would want to have a Meadaw Lane address and would not want to cut down trees along Glenwood to instafl a driveway. He added that three additional driveways on a residential street would not overtax the street. He referred to the comments made about the pond flooding and explained that he doesn't know if the flooding of the basement in the past was caused from the pond overflowing or from water coming off the roof. He added that they will be upgrading the outlet pipe of the pond. Waldhauser asked if the outlet upgrade is based on certain calculations. Knaeble said the calculations are based on the proposed development. Minutes of the Golden Valley Planning Commission March 15, 2012 Page 5 Leslie Blessing, 3940 Glenwood Ave, said she would also like the driveway on Lot 4 to be on Glenwood. She stated that she used to live in a low lying area in St. Louis Park and a neighboring property owner changed the grade of their property, folfowing all the regulations, but it significantly changed the drainage on her property. She said she appreciates the view of the subject property and it is important not to have the 10-foot buffer around the pond. Carolyn Brunelle, 4211 Glencrest Road, asked if the developer will be required to replace the trees being removed. Waldhauser said no. Brunelle said she wants to see other projects this developer has done and she wants to know the timeframe af this project. She said the proposed lang driveway on Lot 4 will create a dangerous left turn into the driveway. Heather Fraser, 115 Maddaus Lane, said she has lost several vehicles due to flooding. She said she is not sure how the driveways along Leber Lane will fit because there is a 4- foot high retaining wall along Leber Lane. She said she doesn't understand the footprint size of the houses and she likes the pond without the buffer. She referred to the picture shown of the pond and asked which season the picture was taken in and how big the pond gets after a big rain. She suggested that the developer check the history of the flooding on the properiy and how high the pond has been. Eva Jensen, 4010 Roanoke Circle, said she is very pleased with the value Golden Valley places on trees and the environment but she is startled to hear that 40% of the trees are allowed to be removed. She asked if that count considers the size, type and age of the trees and stated that there is mostly buckthorn along Glenwood Ave, She asked about fencing codss, the proposed footprint size of the houses and the amount of space between Lots 2 and 3. She added that she is also concerned about the quality of construction and their compatibility with the neighborhood. Harry Pulver, 105 Meadow l.ane, said he is not happy about this proposal. He stated that Golden Valley is a first ring suburb that doesn't feel like it and he questions if this proposal needs to be four lots. He said the whole neighborhood is built on a swamp and his backyard gets floaded. He said this is a precarious situation that should be looked at very carefully. Bruce Pappas, 20 Ardmore Drive, said he emailed the developer before this meeting and was told by him that all af the lots were conforming to City Code. Now he is at this meeting hearing that the developer is requesting a variance. He said his plea to the Planning Commission is that they not make it easier on the developer because what he is proposing is a bastardization of this property. He noted that the developer has said he could subdivide this property into six conforming lots and questioned if the fact that he is only proposing three new lots is supposed to make the neighbors feel good. He said it doesn't seem right that the pond can be used when figuring the square footage of these lots and asked the Commission to abide by the codes and not grant the variance. Minutes of the Golden Valley Planning Commissivn March 15, 2012 Page 6 Emett Carpel, 24 Ardmore Drive, asked if it has been cansidered to make Lots 2 and 3 into one lot. He said the iconic view of this property will no longer be iconic. He added that he understands how this development will improve the tax base but questi4ned how it will improve the neighborhood. Tom Hansen, 4116 Glencrest Road, referred to the Housing Goals, Objectives and Policies section of the City's Camprehensive Plan and ques�tioned how they wauld be met if this subdivision is approved. He noted that the Comprehensive Plan states that the housing goals would be met through multi-family developments not infill. He stated that the lot sizes in this area are much larger than the lots in this proposal and questioned what the Gity is doing to protect the historical value of the neighborhood. Curt Olson, 80Q Tyrol Trail, said he agrees with what has been said. He asked if Lot 4 could be split again in the future to allow for another home; if so, that would be a shame. He asked if anything can be done to stop further development. Anna Murray, 12 Meadow Lane North, asked if there has been any consideration given to rain gardens since there has been so much talk about flooding. Lisa Morley, 4006 Roanoke Circle, referred to other hauses in the area that are for sate or took a long time to sell. She asked if these proposed houses are being built on "spec" and what will happen if they don't sell. She said she doesn't understand where the demand is for these houses. Chis Oldenburg, 240 Meadow Lane North, said he agrees with so many things that have been said. He said he was part of a minor subdivision that occurred at 240 Meadow Lane approximately 10 years ago and his understanding is that there is more standing water on the property now as a result of the grading that was done at that time. Carolyn Brunelle, 4211 Glencrest Road, said it seems problematic to her to allow three people to awn one pond. Vicki McGinty, 4500 Sunset Ridge, said there is a reason she moved to this area but it has not been easy to stay since the taxes in Golden Valley are horrific and the property values have gone down. She said there is absolutely no benefit to this project. She said it is not about being selfish ar not wanting change, the project just isn't practicaf and doesn't make sense: She said maybe one additional house would be ok but not four. She said it miffs her that the neighbors have so little control over things that impact them. Chris Downey, 125 Meadow Lane North, asked if these lots would be able to be split again in the future and agreed that there has been a lot of flooding in the area. Pam Lott, 220 Sunnyridge Lane, said she was assured there would be no water problems when a subdivision was dane in her neighborhood approximately 15 years ago and there have been water problems ever since so maybe the city engineers should go back to schooL Minutes of the Golden Valley Planning Commission � March 15, 2012 Page 7 Bruce Monick, 4215 Poplar Drive, said this is a very important piece of the neighborhood. He said the stop sign on the corner af Meadow Lane and Glenwood is run over about six or seven times per year and it is very dangerous. He said it will be difficult for peopfe ta get out of the proposed driveways on Meadow Lane and that this proposal does not keep the property as a park-like setting. He said he would like Lot 4 to have the driveway on Glenwood instead of Meadow Lane and asked if the house plans will have to be approved by a City body. Seeing and hearing no one else wishing to comment, Waldhauser closed the public hearing. Schmidgall grouped the questions together for discussian. His first group of questions is related to the pond, rain gardens, flooding, the proposal that three people own the pond and the vegetative buffer around tMe pond. Grimes said the City Engineer's memo addresses the issues af the pond. He said some people may not agree with him, but he is the professional engineer for the City and it his opinion that with the homes built 2 feet above the 100-year flood elevation there should not be problems with flooding in this situation. Kluchka asked who is responsible if the pond doesn't wark. Grimes said if there is a 500- year flood, it won't work. Grimes added that the City will have an easement over the pond so it will be under the control of, and maintained by, the City. Waldhauser reiterated that the pond was built just for the watershed of this property. Knaeble added that the pond will be owned by Lots 1, 3 and 4 and there will be a restrictive covenant on the deed regarding that ownership. Schmidgall said the next group of issues to be discussed is relating to traffic and the location of driveways. Grimes explained that as often as passible, the City likes to see driveways located on the streets with the lowest amount of traffic. He said he doesn't think Hennepin County would like to see curb cuts onto Glenwoad Avenue but the awner could apply for a permit through the County. He noted that the locations of the driveways on the site plans are illustrative at this point and could change. Schmidgall said the next questions were regarding the iconic view of the pond and the potential to further subdivide the property. Waldhauser said she did not think Lot 1 could be further split because there wouldn't be street access. She noted that a homeowner could purchase additional property to obtain the correct amount of frontage. She said it seems Lot 4 could potentially be split. McCarty said he daesn't think there would be enough setback area available ta split Lot 4 any further. Grimes explained that every praperty owner has the right to propose a subdivision if they meet the requirements. Minutes of the Golden Valley Planning Commission March 15, 2012 Page 8 Schmidgall referred to the questians regarding the quality of the homes and the size of the homes' footprints. Grimes stated that as long as a house meets the requirements of the Zoning Code and Building Code it can be built. He stated that the City daes not have design criteria but based on the value of the homes in this area, he would guess that these proposed homes would also be valuable. Schmidgall agreed that the location of the homes will demand quality. Schmidgall asked about fencing and said his understanding is that homeowners can install 6-foot high fences if they want to. Grimes stated that private deed restrictions regarding fences cauld be placed on the properties however, deed restrictions are not enforced by the City. He added that the Zoning Code does allow 4-foot high fences in front yards and 6-foat high fences in side and rear yards. Schmidgall asked about the tree preservation concerns. Grimes stated that the City daes have a tree preservation ordinance that the developer will have to follow. He noted that there will be a tree plan and a grading plan for each lot. He reiterated that the applicant is proposing to remove 20 trees. He added that he believes trees add value to property and developers don't typically remove more trees than necessary. Schmidgall stated the requested variance seems to be more af an afterthought. He would not be in favor of granting the variance requested because something very nice could be built on this property without a variance. Kluchka asked Grimes to give an update of the Supreme Court ruling regarding variances. Grimes explained that the Supreme Court ruling is in regard to the Zoning Code requirements. The vari�nce being requested for this proposal is a variance from the Subdivision Code. Kluchka asked about the timeframe for the project and if the houses are being built on "spec" and where the demand is coming from. Knaebte said he hopes to have the plat finalized by the end of May or the beginning of June and depending on the market, finro or three of the homes may start construction this summer. Grimes added that if the market is nat there, the land will just sit as is. Knaeble agreed and said he would be responsible for maintaining the property. He added that these lots will be sold to families who want to build houses using their own builder; they will not be building "spec" homes. Kisch asked Knaeble if he has thought about covenants or restrictive deeds regarding fences and the pond. Knaeble said they have considered restrictive deeds regarding fences and the pond, but he can't guarantee them. Kluchka asked Knaeble if he knew the possible footprint or size of the new homes. Knaeble said they don't have designs for the houses because it will depend on what the homeowners decide to build. He sxplained that whatever is built wilt meet the Zoning Code requirements and he would expect that the quality of the new homes to meet or exceed the homes in the area. Minutes of the Golden Valley Planning Commission March 15, 2012 Page 9 Waldhauser asked how much space there would be between the homes on Lots 2 and 3. Knaeble said there would be a minimum of 25 feet between the homes on Lots 2 and 3. Waldhauser asked if there will be enough room to allow for a larger setback if the hames are taller than 15 feet in height as required. Grimes said yes, if the homes are tatler than 15 feet the side yard setback requirements will increase. Segelbaum asked Knaeble to comment on the lat sizes. Knaeble said the average lot size for the whole development is approximately one-half acre which exceeds the neighborhood average. He added that he would not expect that it wauld be feasible to further split these lots in the future. Kluchka referred to the residents' comments about the goals and objectives in the Comprehensive Plan. Waldhauser said she thinks any paragraph or sentence in the Comprehensive Plan could be interpreted a number of ways. Kisch agreed and said the Comprehensive Plan guides decisions and has vision statements that the City hopes ta attain, but the Gity still has to follow its ordinances and codes. Waldhauser stated that many homeowners are nat interested in having large lots. They . want nice homes on smaller lots. Schmidgall agreed that the Comprehensive Plan is intended to guide or inform. He said he wants these propased new homes to be attractive to families wanting to move into Golden Valley and they provide opportunity for the kinds of goals and objectives mentioned in the Comprehensive Plan. He said he is in favor of supporting this propasal. Kisch stated that the City really can't deny subdivisions that conform to the requirements. He said he doesn't think the requested variance is needed because the homes can be of great quality and conform to the requirements without the need for a variance. He also said he would like to strongly encourage restrictions on fences. Segelbaum said he agrees that the City doesn't have much right to deny this proposal. He said he thinks it would be difficult ta further subdivide Lot 4 in the future. He added that he would be in favor of granting the requested variance because moving the house on Lot 3 further away from the pond would create a safer environment and would make it less prone to flooding. Grimes agreed that these lots would be very difficult to subdivide any further. Waldhauser stated that compliance with the normal lot regulations in this case isn't an issue. She said she doesn't have concerns about granting the requested variance because there will be net improvements as a result, but she would like to separate the issues into two vote�. She said she feels confident there wilf be beautiful homes built on the property. She referred to a question regarding how many more infill opportunities there are in the area and said she doesn't think there are a lot of opportunities left. Minutes of the Golden Vafley Planning Commission March 15, 2012 Page 10 MOVED by Cera, seconded by McCarty and motion carried unanimously to recommend approval of the subdivision request with the following conditions: 1. No variances from the lot size requirements shall be granted. 2. Deed restrictions regarding fences will be strongly encouraged. 3. Covenants regarding the ownership and maintenance of the pond will be strongly encouraged. 4. The City Attorney will determine if a title review is necessary prior to approval of the final plat. 5. A park dedication fee of$4,885.90 shall be paid before final plat approval. 6. The City Engineer's memorandum, dated March 7, 2012 shall become part ofi this appraval. 7. A Subdivision Agreement will be drafted for review and appraval by the Gity Council that will include issues found in the City Engineer's memorandum. 8. All applicable City permits shall be obtained prior to the development of the new lots. Knaeble asked if he could also get a recommendation regarding the buffer strip around the pond. Kluchka said he doesn't feel the buffer strip issue is within the Planning Commission's purview. Grimes stated that staff will have further discussion with the applicant regarding best management practices for buffer strips around ponds. Cera suggested that the setback requirement from the wetland area be 30 feet rather than 25 feet on Lot 3. Kisch asked the applicant if he would be open to the idea of a larger setback from the wetland area. Knaeble said he would not be open to that idea, but he would be open to shifting Lot 3, in its entirety 5 fieet further narth. M4VED by Segelbaum, seconded by Waldhauser and motion carried 5 to 2 to recommend approval of the subdivision request with the following conditions: 4. A variance allowing Lot 2 to be 95 feet (rather than 100 feet) in width along Meadow Lane shall be granted. 5. Deed restrictions regarding fences will be strongly encouraged. 6. The setback requirement from the wetland area on all lots shall be 30 feet. 7. Covenants regarding the pond will be strongly encouraged. 4. The City Attorney will determine if a title review is necessary prior to approval of the final plat. 5. A park dedication fee of $4,885.90 shall be paid before final plat approval. 6. The City Engineer's memorandum, dated March 7, 2012 shall become part of this approval. 7. A Subdivision Agreement will be drafted for review and approval by the City Council that will include issues found in the City Engineer's memorandum. 8. All applicable City permits shall be obtained prior to the development of the new lots. --Short Recess-- Minutes of the Golden Valley Planning Commission March 15, 2Q12 Page 11 3. Reports on Meetings of the Housing and Redevelopment Authority, City Council, Board of Zoning Appeals and other Meetings Segelbaum reported on the March 6, 2012 City Council meeting where the Council approved the Preliminary PUD plan for the Eldridge 3rd (Triton Drive) 4. Other Business No other business was discussed. 5. Adjournment The meeting was adjourned at 9:40 pm. David A. Cera, Secretary JOINT WATER COMMISSION MINUTES Golden Valley - Crystal - New Hope Meeting of February 8, 2Q12 The Golden Valley— Crystal — New Hope Joint Water Commission meeting was called ta order at 1:30 pm, in the City of Golden Valley Council Conference Room. Commissioners Present Tom Burt, City Manager, Golden Valley Anne Norris, City Manager, Crystal Kirk McDonald, City Manager, New Hope Staff Present Guy Johnson, Director of Public Works, New Hope , Bernie Weber, Utilities Supervisor, New Hope Randy Kloepper, Water and Sewer Superintendent, Crystal Sue Virnig, Finance Director, Golden Valley Jeannine Clancy, Director of Public Works Bert Tracy, Public Works Maintenance Manager, Golden Valley Pat Schutrop, Administrative Assistant, Galden Valley Minutes of December 7, 2011 MOVED by Norris, secanded by McDonald, and motion carried unanimously to approve the minutes of the December 7, 2011 meeting. Resolution 12-01 - Desiqnatinq Depositories for Joint Water Funds Commissioner McDonald introduced the following resolution and moved its adoption: RESOLUTION 12-01 RESOLUTIQN DESIGNATING DEPOSITORIES FOR JOINT WATER FUNDS The motion for the adoption of the foregoing resolution was seconded by Commissioner Norris and upon a vote being taken thereon, the following voted in favor thereof: Burt, McDonald, and Norris; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted, signed by the Chair and his signature attested by the Vice Chair. Resolution 12-02 -Annual Elections for the 2012-2013 Insurance Policv Commissioner Norris introduced the following resolution and moved its adoption: RESOLUTION 12-OZ RESOLUTION MAKING ANNUAL ELECTI(JNS FOR THE 2012-2013 INSURANCE POLICY The motion for the adoption of the foregoing resolution was seconded by Commissioner McDonald and upon a vote being taken thereon, the following voted in favor thereof: Burt, McDonald, and Norris; and the following vated against the same: none, whereupon said resolution was declared duly passed and adopted, signed by the Chair and his signature attested by the Vice Ghair. I:Woint Water CQmmissionWWC Minutes�2012 JWC Minutes\02-08-12 JWC Minutes.doc Joint Water Commission February 8, 2012 Page 2 of 3 2011 Audit Contract MOVED by Norris, secanded by McDonald, and motion carried unanimously to authorize staff to contract with MMKR Certified Public Accountants for an amount not to exceed $8,425 for 2011 Audit Services for the Joint Water Commission. Minneapolis/Golden Vallev Water Meter Improvements The proposal for the Minneapolis/Golden Valley water meter improvements was received from Bonestroo/Stantec to design and reconstruct the metering facility in the amount not to exceed $49,698. The TAG has review the proposal and in agreement with the scope of work. MQVED by Norris, seconded by McDonald, and motion carried unanimously to authorize the proposal from Bonestroo/Stantec to design and reconstruct the metering facility in the amount not to exceed $49,698. The City of Minneapolis has verbally committed to pay 5Q% of the design cost of the metering facility and is revising the Water Agreement to turn ownership of the facility back to the JWC and ownership of the meter to the City of Minneapolis. Clancy received the amended Water Agreement between the City of Minneapolis and the JWC just prior tv the meeting. Clancy proposes that the JWC direct her to finalize the agreement with Minneapolis or she can present the final agreement to the JWC at the next meeting. MOVED by Norris, seconded by McDonald, and motion carried unanimously to direct Clancy to finalize the amendment to the Water Agreement with the City of Minneapolis and authorize Burt to sign the final agreement. Water Interaction Studv U.�L,date The JWC approved the scope of work for the Water Interaction Study with Barr Engineering Company at its October 5, 2011 meeting. However, Barr realized that a master contract did not exisf between the JWC and Barr for ongoing work performed by Barr for the JWG. Barr submitted a Professional Services Agreement for the JWC to consider. The agreement has been reviewed by the attorney. MOVED by Norris, seconded by McDonald, and motion carried unanimously to accept the Master Contract with Barr Engineering Company. Three Citv Councils Meetinq The timeline for the three City Councils ta meet is on schedule for some time in March or ApriL Minneapolis Cost of Service Model Burt is waiting to receive comments from Scott Harder, Environmental Financial Group, regarding the letter from the City of Minneapolis which did not include the water rat�s for 2Q12. Burt will update the JWC at the next meeting. I:Woint Water CommissionWWC Minutes�2012 JWC Minutes\02-08-12 JWC Minutes.doc Joint Water Commission February 8, 2012 Page 3 of 3 West Metro Fire Rescue District Request The West Metro Fire Rescue District requested the use of the Golden Valley water tawer for training in preparation for the American Lung Association's Stair Climb Challenge. Clancy discussed the request with Mark Kuhnly, Golden Valley Chief of Fire/Inspections, who advised against the request. The consensus of the JWC was to not grant the request to the use the water tower for training purposes due to safety concerns. Approval of Materials Purchased for 16" and 24" Gate Vale Replacemen#s, City of Crvstal Kloepper presented a memo requesting approval for the purchase Qf valve and adapter replacements from HD Supply in the amount of$37,415.54. Additional quates were not obtained because HD Supply is the only distributor in the state that carries the brand of butterfly valves and operators used in the gate valve replacements. Crystal requests authorization to purchase from them to continue continuity with other replacements. MOVED by Norris, seconded by McDonald, and motion carried unanimously authorizing Crystal to purchase the materials from HD Supply in the amount of$37,415.54. Other Business None. Next Meetinq The March 7, 2012 JWC meeting will be cancelled. The next scheduled meeting is Wednesday, April 4, 2012, at 1:30 pm. Adiournment Chair Burt adjourned the meeting at 1:45 pm. Thomas D. Burt, Chair ATTEST: Pat Schutrop, Recording Secretary I:Woint Water CommissionwWC Minutes�2012 JWC Minutes\02-08-12 JWC Minutes.doc �:,Z�� (�� , ��,. �� Public Works Departrnent 763-593-8U301763-593-3988{fax) .. i��il��3:.?m«�� .. .. .,.' �+.�k��4`�!._.�su��a',:�';^r_SFaz..,;�°atE¢, _ ...i�ri'�P�l�i}�i,+lr'�`�"e�..,�� r::��antfi;utN��, n �"�'k^-�", ;i.a��.�,+:.... fi�+ _;.r��,'i°�'....-.&�'.,��.� Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. E. 1. Award Contract for 2012 Asphalt Overlay Praject, City Improvement Project No. 12-4 Prepared By Jeannine Clancy, Director of Public Works Ron Nims, Publie Works Project Coordinator Summary Staff solicited bids for the 2012 Asphalt Overlay Project 12-4. Proposals included a base bid for the following roadway: 1. Mendelssohn Avenue from Golden Valley Road to Plymouth Avenue The proposals also included alternate bids for a mill and overlays of the following City streets: 1. Alternate Bid 1 (Golden Valley Road from Mendelssohn Avenue to TH 55) 2. Alternate Bid 2 (Westwood Drive from Ravine Trail to Glenwood Avenue) 3. Alternate Bid 3 (Maddaus Lane from Westwood Drive to Glenwood Avenue) 4. Alternate Bid 4 (Westwood Lane from Westwood Drive ta the west end) 5. Alternate Bid 5 (Strawberry Lane from Westwood Qrive to the cul-de-sac) The bids were reviewed and staff recommends awarding a contract for the base bid plus Alternate Bid 1 (Golden Valley Road) and Alternate Bid 2 (Westwoad Drive). This recommendation is within the available budget and will provide some additional funding for indirect costs associated with the project (design, legal, construction observation, administration, etc.). Should any excess funding, not required for overlays at the above locations, be availabte at the completion of the project, staff will utilize the remaining funding to perform over�ay maintenance using City staff in additional areas. Bids for the 2012 Asphalt Overlay Project, City Improvement Project No. 12-4 were opened an April 2, 2012. The following Base Bid plus Alternate Bid 1 and 2 were received: GMH Asphalt Corp. $484,285.02 Northwest Asphalt, Inc. $517,977.10 North Valley, Inc. $518,23Q.81 Hardrives, Inc. $525,238.12 Bituminous Roadways, Inc. $615,815.80 Engineer's Estimate $538,350,00 Contractors wha submitted bids were also evaluated to determine if they met the qualificatian criteria included in the bid documents for this project. Oman Brathers Paving, Inc. was disqualified for not meeting the following requirement: 1. Evidence of satisfactory completion of a qualifying project (urban asphalt overlay with a minimum Engineer's Estimate of$500,000). Their bid for the Base Bid and Alternates 1 and 2 was $483,044.71. Funding for the 2012 Asphalt Overlay Project is included in the 2012-2016 Capital Improvement Program (S-013, page 96) and from Municipal State Aid Street Maintenance funding (S-Q17, page 97). Attachments • Location Map (1 page) Recommended Action Motion to award a contract for the 2012 Asphalt Overlay Project to the lowest respansible bidder, GMH Asphalt Corp., for the Base Bid and Alternate Bid 1 and 2 in the amount of $484,285.02. � � • � � v � � _ . �'' � s o � � ' J ' � � � � r.e, � � �� °LL � C � � ca � � �, �j' U'�MOpEB� � � �1 0 � � � � H � N a Ln � �i ".. � �' R � i � � V � U � � � a"' � ++ C �+ y � ` � p � i �+ ~ c3LIfALa �� 0� � J c � � � a h"- �a � � � � � i � o� II Q 0 � �� u�, � O � o � � � ydo I N � � � °"a N � � �� Q+ "=o � n' , M � � ,., z � o - > a a�� u�ci�u�� x ` a � � � �� o Y� o a Z � ' � � � � ... . �� .. � �� : E c • -o . � � Q° tis �Y � '- w OG � o � - � Jr � N n� c . . • � � � � m o �+ c�° v- v � s d .� � O �� any zay�3eN g any zay�;eN � m c � o �� a � L 3 0 ° � o � � o z � o — i � > > � ^ � � � '� c `_ � .. _. . N any m}e�ap � m � � — � s a� � m > a. � N � = Q � N Q m � � � � C� N � _ O . _.. • N . , � � 0 � � : . � � z ' a II!H Q � � .� � n �.,�� C� U '� �A o P�e I ?� '�� _� a �-, . . . 696 �ME.p �� Public Works Department 763-593-8030/753-593-3988(fax) ��.m�...;��" � � .;�.:° �� :�m.-�-=��;�a��.:��,�� , ��:�� Executive Summary For Action Golden Valley City Council Meeting ' April 17, 2012 Agenda Item 3. E. 2. Award 2012 Sealcoat Projeet No. 12-13 Prepared By Jeannine Clancy, Director of Public Works Ron Nims, Public Works Project Coordinator Summary As part of the City's annual maintenance practices, staff solicits bids for sealcoating streets that have been constructed ta City standards. Sealcoating, combined with quality patching and crack sealing, extends pavement life and restores better skid resistance to the pavement. Staff opened the following bids for the 2012 Sealcoat Project on April 9, 2012: Allied Blacktop Company $96,894.66 Pearson Brothers, Inc. $99,100.89 Engineer's Estimate $92,000.00 Streets that are scheduled to be sealcoated in 2012 are identified on the attached project area map. The 2012-2013 adopted Biennial Budget, Streets Maintenance Qivisian, includes funding in the amount of$202,500 for this project. The budgeted amount under this program is� also utilized to pay for the pavement marking program used on loeal roadways. Any remaining funding from this program will be utilized to overlay additianal streets by City maintenance staff, Attachments • Location Map (1 page) Recommended Action Motion to award the bid for the 2012 Sealcoat Project No. 12-13 to the lowest responsible bidder, Allied Blacktop Company, in the amount of$96,894.66. i ! ` Ge�artY i�� " 1 O O P ik � .tZ � � '• (t U i ! j� •. � � S i ; Culver Rd � 1�� `•.. � ; ,��., � � r - ; � srAi. • � � � . ; Z � ' B�ianvood I • . 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' � �>> .% i � �� f;-'/"� S, Theodore Wirtb �� f J �'�1 Regional Park .°�� _ ; �Q,� !� / �Q� � `1 I (Mpls Park 8 Rec Board) � '}, eessai��e%ae" � �,�� ., t 1 J � J �� v � ��y � J � � c Pa,k° a (~ r��s� / ;-�` ��,' C� Lixrdsay S! `� �� '� '�,��. `� �t � � <' _ � ,- f�� _�, ._ � z �� . . . �,_ � : ., � N �, � , . ,-,� � ,� � �___ , ��.� ;. ; �'� ,�.. � C:_.--w--=��, `-._� -» n,�-. • 4,Y• � �� S'�' ��.o., ' —�? p ( i �� i O !d �.�� sp��e�"" .� �`.°� ° � �t A N i � �J ;� `� 1, I � � J – V ��f�'`'. ., . < ��.�, a e ,� _,�.,.---_ � .: .� Olson�� Hwy �f�` rJrJ ��--- =�� Po,aroEa.c { �� ,'ron4�g �Rd � .i r �„� Ave', t?� ' /� �s mna z � �v Beverly t w.rtn , �;y<� .,� „� � � e,,.��,�,. � b �� '.Loring Ln � � L8�C2 � � � ;% -,� 3 �,i- � � .� � �1 ' � , ��_.i �,p �✓ _�,,� . �� E �= /�_ �� h-.✓' NP k= �..Weshvood Dr N,.. � :/ , f� � — � (� ��,�. �' �� `�v� � Glenwood "°"�"�°"° �„�o� � " � canmunM cer�mr �� L-c�~ , N � `. .� tb„�„� �r,, . . `� .� , � � �e„o„�.�eb.�, , :. ;----�--�--—�—��-----------�--._.—�-------.. � ,si,7 _.� � i Print Date:4/12/2012 2012 Sealcoat S°U,�es Hennepin County Surveyors O�ce for " � � � Property Lines(2011). `� Project 12 13 0 750 1,500 3.000 Feet Nally, Judy From: Daniel Blumb <daniel.blumb@hotmail.com> Sent: Wednesday, April Q4, 2012 3:16 PM To: Harris, Shep Cc: Connie Sandler; Fackler, Jeanne; Nally, Judy Subject: Golden Vafley Human Services Fund Seat Shep, With mixed emotions, I am writing to inform you that upon the May 2012 conclusion of my GVHSF term, I wish not to seek another term as a General Member. I want to thank current/previous council members and individuals that allowed our Commission to prosper during my multiple term tenure. I appreciated serving as Chair and General Member for the past 6 years. I wish to explore new opportunities/roles within the City of Golden Valley. I would welcome an opportunity to have a conversation in regards to my thaughts and ideas as to how I might help the city in other areas. I want to assist the City of Golden Valley become a city that other cities aspire to be like, not that we aren't already. Thanks again to the City Council and yourself for supporting the Golden Valley Human Services Fund. Sincerely, Daniel Blumb 1 shep Harris APR 6 20�2 City of Golden Va11ey 7800 Golden Valley Road Golden Valley,NIN 55427 Sir, I have served as a business representative on the Golden Valley Human Services Fund for the past several years. My current term on this commission concludes in May of 2012. I will be ending my service at that time. It has been a true pleasure working with the dedicated individuals that fulfill the mission of the Golden Valley Human Services Fund each and every year. Sincerely, , Chris Monroe G��1 �� , Planning Llepartment 763-593-8095/763-593-8109(fax) w _ .��.:�:. _ .- �. � � Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. G. Approval of Full Extension for Filing of Plat and Submitting Final PUD Plan Application - PUD #107-The Towers at West End - Southwest Quadrant of I-394 and Highway 100- Duke Realty, Applicant Prepared By Mark W. Grimes, Director of Planning and Development Summary At the February 21, 2012 City Council meeting, the Council approved a motion to extend the submission date until August 20, 2Q12 (180 days) for the Final PUD application and final plat for The Towers at West End PUD No. 107. The extension was subject to four conditions. Condition No. 4 requires that City staff would report back to the City Council 60 days after the February 21, 2012 approval about whether or nat Duke was demonstrating that it was making efforts to work with Metropolitan Council Environmental Services (MCES) about locating a permanent lift station for the construction of I-GV-461 Reliever on The Towers at West End site. If City staff found that Duke was making efforts to work with the MCES, the final 120 days of the extension would be approved by the City Council. If effort was not being made, the City Council could revoke the extension beyond 60 days. Public Works staff has been involved in meetings and has been monitoring correspondence between MCES and Duke regarding the placement of the lift station and associated infrastructure needed for the construction of I-GV-461 Reliever. Based an the discussions that are underway, staff believes that efforts are being made by the MCES and Duke to site the lift station on the Duke property. Attachments • Executive Summary For Action dated February 21, 2012 (2 pages) Recommended Action Motion to approve full extension for filing of final plat and submitting Fina) PUD Plan Application for The Towers at West End PUD No. 107 to August 20, 2012 because City staff has determined that Duke has demonstrated it is making good faith efforts to work with MCES to locate a !ift station for I-GV-461 on The Towers at West End property. The approval is subject to the following conditions: 1. Duke shall submit cash deposits as requested by the City to cover legal and engineering costs incurred by the City for cansideration of the Preliminary Plan. 2. Duke will be financially responsible for road construction under TH 100 and intersection improvements on the east side of TH 100 and traffic calming along the frontage road east of TH 100, to occur at the time building permits are applied for by Duke. 3. Duke shall cooperate with Metropolitan Council Environmental Services (MCES) in the construction of the 1-GV-461 Reliever project. The Reliever project is required to be constructed by MCES to increase sanitary sewer capacity ta serve Quke's West End development and ather future development in certain parts of Golden Valley and St. Louis Park. MCES and Duke to reach a conclusion on the permanent location of the lift station, the force main alignment, and all other appurtenances needed for the construction of the 1-GV- 461 force main within the vicinity of the Duke property. All temporary and permanent easements shall be identified, and all land shall be transferred in connection with the project. If the City or MCES determines that there has not been adequate cooperation from Duke,the City retains the right to place additional conditions on future extensions to the Preliminary PUD Plan or the Final PUD Plan. Git af°y Planning � ' �� , , e/ 763-593-8095/763-593-8109 (fax) Executive Summary For Action Golden Valley City Council Meeting February 21, 2012 Agenda Item 3. G. Approval of Conditional Extension for Filing of Plat and Submitting Final PUD P(an Application - PUD #107 - The Towers at West End - Southwest Quadrant of I-394 and Highway 100 - Duke Realty, Applicant Prepared By Mark Grimes, Director of Planning and Development Jeannine Clancy, Director of Public Works Summary At the March 3, 2009 City Council meeting, the Council approved the Preliminary PUD Plan and Preliminary Plat for The Towers at West End PUD No. 107. The Council has approved five 180-day extensions since the original Preliminary PUD approval. The Preliminary PUD Plan and Preliminary Plat provide for the construction of a 4,000+ space parking deck attached to several office buildings that are located in St. Louis Park. Due to market conditions, Duke is requesting an extension for the filing of their applications for the Final PUD plan and the Final Plat. When the PUD was last extended, the City Council required the following: "Duke shall cooperate with the Metropalitan Council Environment Services (MCES) in the construction of the 1-GV-461 Reliever project. The Reliever project is required to be constructed by MCES to increase sanitary sewer capacity to serve Duke's West End development and other future development in certain parts of Golden Valley and St. Louis Park. The cooperation may include the dedication of property easements for the construction of a lift station, forcemain, air relief, or gravity lines as outlined in the MCES plans for 1-GV-461. If the City or MCES determines that there has not been adequate cooperation from Duke, the City retains the right to place additianal conditions on future extensions to the Preliminary PUD Plan for the Final PUD Plan." At this time, staff recommends that the extension of the PUD approval be a conditional 180 days. Staff will monitor the efforts by MCES and Duke to reach a conclusion on the permanent location of the lift station, the forcemain alignment, and all other appurtenances needed for the construction of the 1-GV-461 force main within the vicinity of the Duke property. All temporary and permanent easements shatl be identified, and all land shall be transferred in connection with the project. Duke shall demonstrate to the City of Golden Valley its good faith efforts to act in accordance with the requirements of the PUD. Staff will report the status of Duke's progress with the MCES in 60 days. If adequate progress is being made to meet the terms of the PUD, the Council may extend the PUD for an additional term not to exceed 120 days. If adequate progress is not being made to meet the terms of the PUD, the Council may revoke any further extension of the PUD preliminary approval beyond the first approximate 60 days. Attachments Location Map (1 page) Email from Duke Realty requesting an extension dated January 9, 2012 (1 page) Recommended Action Motion to approve an extension for submittal of the Final PUD Plan application and the Final Plat for The Towers at West End, PUD No. 107 until August 20, 2012, subject to the following conditions: 1. Duke shall submit cash deposits as requested by the City to cover legal and engineering costs incurred by the City for consideration of the Preliminary Plan. 2. Duke will be financially responsible for road construction under TH 100 and intersectian improvements on the east side of TH 100 and traffic calming along the frontage road east of TH 100, to occur at the time building permits are applied for by Duke. 3. Duke shall cooperate with the Metropolitan Council Environmental Services (MCES) in the construction of the 1-GV-461 Reliever project. The Reliever project is required to be constructed by MCES to increase sanitary sewer capacity to serve Duke's West End development and other future development in certain parts of Golden Valley and St. Louis Park. MCES and Duke to reach a conclusion an the permanent location of the lift station, the force main alignment, and all other appurtenances needed for the construction of the 1-GV-461 force main within the vicinity of the Duke property, All temporary and permanent easements shall be identified, and all land shall be transferred in connection with the praject. If the City ar MCES determines that there has not been adequate cooperation from Duke, the City retains the right to place additianal conditions on future extensions to the Preliminary PUD Plan ar the Final PUD Plan. 4. Duke shall demonstrate to the City of Golden Valley its good faith efforts to act in accordance with the requirements of the PUD. Staff will report the status of Duke's progress with the MCES in 60 days. If adequate progress is being made to meet the terms of the PUD, the Council may extend the PUD for an additional term not to exceed 120 days. If adequate progress is not being made ta meet the terms of the PUD, the Council may revoke any further extension of the PUD preliminary approval beyond the first approximate 60 days. If Council finds that adequate progress is being made to meet the terms of the PUD, the Counci! may permit the extension of the PUD preliminary approval to continue for the remaining approximate 120 days. �"t��l C3� Public Works Departrnent 763-593-803Q/763-593-3988(fax) ��`+�^�� '" � �� '�.•-a y Sa ex.�. �."F„e��;�`s �_ . , �^ a y�, x^ 1 ,�,* �'�` .�,�,e�.�� `�`„�`.a�'.� . �`��:�*i..�s`.,��. . _ e.�.i �� . .. ..�'`�,s�'�. ., ._.. ��f.�...� .�+i..,.. ��.�'� s>z�w� .... �* ,.: � Executive Summary Far Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. H. Support of the Minneapolis Park & Recreation Board's Application for an Enviranmental Response Fund Grant from Hennepin County Prepared By leannine Clancy, Director of Public Works Eric Eckman, Public Works Specialist Summary In 2Q11, while working on its Wirth Lake Site Improvements Project, the Minneapolis Park and Recreation Board (MPRB) discovered soils contaminated by an undocumented diesel fuel spill located in the area between the Wirth Beach parking lot and the wetland. The attached location map shows the area of contaminated soils. MPRB has contacted the Minnesota Pollution Control Agency to enroll the site in the Voluntary Investigation and Cleanup Program and to develop a Response Action Plan. MPRB is seeking an Environmental Response Fund Grant from the Hennepin County Department of Environmental Services to assist with the cost of remediation. As part of the grant application process, and as required by state statute, MPRB must obtain the approval of the City in which the clean-up site is located. As the site within Wirth Park is located in the City of Golden Valley, Golden Valley's City Council must adopt a resolution approving the clean-up project and supporting the grant application. Attachments • Location map (1 page) • Resolution Authorizing Approval for the Minneapolis Park & Recreatian Board to Clean Up a Fuel Spill at Wirth Park Located in the City of Golden Valley and Support its Application for an Environmental Response Fund Grant from Hennepin County for the Project (1 page) Recommended Action Motion to adopt Resolution Autharizing Approval for the Minneapolis Park & Recreation Board to Clean Up a Fuel Spill at Wirth Park Located in the City of Golden Valley and Support its Application for an Environmental Fund Grant from Hennepin County for the Project. °�'d �°�; � .8 I-' ,.., cG � �., .... ,x �" ,, � Y 5 g° � � C � � z 'J O xy W � V oG ` '� � ~ aC� - �� oy�t E = a g g g u� � ua z c¢n � crw.., Z � r^€ � w ;� � .�� s� �5�9� z $ .P s � 3 Y b G \¢ J z � k' Ysa_o .� 0 s; W>J �� ^ 7 z/// 4 F-1 �Y1��0• � O'� ��. 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L �- 2 �= W� W g V m U 1 I � �, f � 1 1 � 1 � 1 I ! .b�� -' � � 3�< �iW �0 �� j �� w 1 i �,, / � � f 1 � , I ! i � � Z Z � � Jm � V J � � � �i I � � � � I � f � I I j � � � � $�� + � � �� a a � � � i '' � i � i � r r r� . .- i � ,� i i rf � � � � � o L o$ ��, � �� °�� Wy� � � J �� W � �lY-� �-F � � a Wb 1, � ;� � I ', , I � � � �� ° 4 S W� �W � �� >Q� � ux O N W H � � �� v �$ � �� 5= � � .. � a� : ,ri�o .6� �m a� a�< 9�c = r� Resolution 12-28 April 17, 2012 Member introduced the following resolution and moved its adoption: RESOLUTION AUTHQRIZING APPROVAL FOR TNE MINNEAPQLIS PARK & RECREATION BOARD TrJ CLEAN UP A FUEL SPILL AT WIRTH PARK LOCATED IN THE CITY OF GOLQEN VALLEY AND SUPPORT ITS APPLICATON FOR AN ENVIRONMENTAL FUND GRANT FROM HENNEPIN COUNTY FOR THE PROJEGT WHEREAS, the Minneapolis Park & Recreation Board will apply for an Environmental Response Fund Grant from Hennepin County in the amount af $8Q,OOQ for remediation of a fuel spill at Wirth Park, which is physically located in the City of Golden Valley, and requires the City to approve the praject in order to receive funds. N�W, THEREFORE, BE IT RESOLVED that the City Couneil of the City of Golden Valley approves the clean-up of a fuel spill site at Wirth Park, for which an Environmental Response Fund grant application is being submitted to the Hennepin Gounty Qepartment of Environmental Services by the Minneapalis Park & Recreation Board. Shepard M. Harris, 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 follawing 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 his signature attested by the City Clerk. W�>�� Al� ��h� 4�� 4� Public Works Department 763-593-8030/763-593-3988{fax) �...�.� v�:��.. �� _ ..w. ��.� ... ::.��..; � . ��. �,_.�;��_��m� � : m .�.: ��:� Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. I. Proclamation of National Public Works Week Prepared By Jeannine Clancy, Directar of Public Works Summary To recognize the Golden Valley Public Works Department employees during National Public Works Week, please consider adoption of the attached proclamation for National Public Works Week on May 2Q through May 26, 2012. Attachments • Proclamation For National Public Works Week (1 page) Recommended Action Motion to adopt the Proclamation For National Public Works Week. CITY OF GOLDEN VALLEY PROCLAMATION FOR NATIONAL PUBLIG WORKS WEEK WHEREAS, public works services provided in the City of Golden Valley are an integral part of our citizens' everyday lives; and WHEREAS, the suppart of an understanding and informed citizenry is vital ta the efficient operation of public warks systems and programs such as water, sanitary and storm sewers, streets and highways, forestry, public buildings, solid waste collection, and maintenance of parks; and WHEREAS, the health, safety and comfort of this community greatly depends on these faeilities and services; and WHEREAS, the quality and effectiveness of these facilities, as well as their planning, design, and construction, is vitally dependent upon the efforts and skill of public works employees; and WHEREAS, understanding the role that public infrastructure plays in protecting the environment, improving public health and safety, contributing to economic vitality, and enhancing the quality of life of every community of the United States is in the interest of the residents and those who visit our community. NOW, THEREFORE, I, Shepard M. Harris, Mayor of the City of Golden Valley, do hereby proclaim the week of May 20 through 26, 2012 as "NATIQNAL PUBLIC WORKS WEEK" in the City of Golden Valley, and I call upon all citizens and civic organizations to acquaint themselves with the issues involved in providing our public works and to recognize the contributions which public works officials make every day to our health, safety, comfort, and quality of life. IN WITNESS WHEREOF, I have hereunto set my hand and caused ths great seal of the Gity of Golden Valley to be affixed this 17th day of April 2012. Shepard M. Harris, Mayor �'1�� C�� a � �� Fire Department 763-593-8079/763-593-8098 ifax) Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. J. Authorization to Sign Amended Agreement with City of St. Louis Park for Emergency Command Center Vehicle Prepared By Mark Kuhnly, Chief of Fire and Inspections Summary In May 2Q07, the City of Golden Valley and the City of St. Louis Park approved an agreement for the purchase, operatian and maintenance of an emergency command center vehicle. In the agreement, Golden Valley is responsible to provide housing, insurance and maintenance on the vehicle. The City of Golden Valley cantributes 36% of all vehicle costs with the City of St. Louis Park contributing 64%. Staffs from both cities are proposing an amended agreement that changes the responsibility to St. Louis Park for providing housing, insurance and maintenance on the vehicle, using the same cost distribution. Attachments • Amended Agreement Between St. Lauis Park and Golden Valley for Purchase, Operation and Maintenance of Emergency Command Center Vehicle (3 pages) Recommended Action Motion to authorize the Mayor and City Manager to sign the Amended Agreement Between St. Louis Park and Golden Valley for Purchase, Operation and Maintenance of Emergency Command Center Vehicle. AMENDED AGREEMENT BETWEEN ST. LQUIS PARK AND GOLDEN VALLEY FOR PURCHASE, OPERATION AND MAINTENANCE OF EMERGENCY COMMAND CENTER VEHICLE AGREEMENT, made this day of , 2012, by and between the City of Saint Louis Park, a Minnesota municipal corporation ("St. Louis Park") and the City of Golden Valley, a Minnesota municipal corporation ("Golden Valley"). WHEREAS, the governmental units signatory hereto are empowered by law to provide and to contract for police, fire and emergency services and to procure the equipment necessary for such services, and, by virtue of their respective needs and geo�raphic proximity, find it in their common interest and for their common benefit and the benefit of their citizens for St. Louis Park and Golden Valley to jointly purehase, maintain and make common use of an Emergency Command Center Vehicle with Emergency 911 Capabilities ("ECC Vehicle"); and WHEREAS, this Agreement is not made pursuant to Minn. Stat. 471.59 or 436.06 and should not b�e construed as ereating a jaint powers entity or a joint municipal police department; and WHEREAS, this Agreement amends and restates the a�reement originally entered into between the parties dated May 7, 2007; and WHEREAS, this Amended Agreement transfers the housing of the ECC Vehicle to St. Louis Park effective as of the date of this Amended Agreement. NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties a�ree as follows: I. Purchase, O�eration and Maintenance of the ECC Vehicle. St. Louis Park and Golden Valley agree to purchase, own, house and insure the ECC Vehicle as follows: A. The ECC Vehiele will be purchased by St. Louis Park and Golden Valley jointly. St. Louis Park will contribute 64 percent af the cost of the vehicle and Golden Valley will contribute 36 percent of the cost of the vehicle. B. The ECC Vehicle will be registered with the State of Minnesota in the names of both parties. C. St, Louis Park will house the ECC Vehicle in its municipal facilities for the benefit of both parties. D. Insurance. St. Louis Park shall maintain insurance coverage in the minimum amount of the liability limits established in Minn. Stat. Ch. 466, which shall protect both Cities from any and all claims that might be made against either or both Cities concerning the subject of this agreement. E. Operatin�Procedures. The Chief of each City's Police Department and Fire Department, or their designee, shall be jointly responsible for establishing rules, procedures and standards relatin� to the common use of the ECC Vehicte. II. Payment for Purchase, Operation and Maintenance of the ECC Vehicle. St. Louis Park shall pay sixty-four percent (64%) and Golden Valley pay thirty- six percent (36%) of all costs of the vehicle including purchase price, and all costs of operation and maintenance of the vehicle for the term of the agreement. St. Louis Park shall send a monthly invoice ta Gotden Valley and it shall be paid within thirty (30) days of receipt of the invoice. III. Term of the A�reement. This Agreement shall be for the life of the ECC Vehicle, estimated ta be approximately fifteen (15) to twenty (20) years. IV. Indemnity. Each City shall defend and hold harmless the other City from any claims arising from any act or omission on the part of its own officer, employees, agents, contractors or representatives, including any attorney's fees and expenses incurred in defending any such claim. Nothing herein shall change or waive liability limits established under Minn. Stat. Ch. 466. V. Worker's Compensation. Each City shall be responsible for and shall hold harmless the other City for any worker's compensation claims and ensuing payments made where the claims have been filed by its own afficers, employees, agents, cantractors or representatives. VI. Assignment. Neither party to this Agreement may assi�n its interest in the A�reement without prior written approval of the other party and subject to such conditions and provisions as the other party may deem necessary. VII. Amendments. This Agreement may be amended from time to time as the parties deem necessary. No amendment shall be effective unless agreed to in writing by the parties. VIII. Entire A�reement. It is understood and agreed that the entire Agreement of the parties is contained herein and that this A�reement supersedes all oral A�reements and negotiations between the parties relating to the subject matter hereof as well as any previous Agreements presently in effect between the parties relating to the subject matter hereof. IX. Severability. If any term of this Agreement is found to be void or invatid, 1 such invalidity shall not affect the remaining terms of this A�reement, which shall continue in full force and effect. IN WITNESS WHEREOF the parties have executed this Amended A�reement the date and year first above written. CITY OF ST. LOUIS PARK By: By: CITY OF GOLDEN VALLEY By: By: A✓�� 4t I� �..��ry�:. p , F Finance Department 763-593-8013/763-593-8109(fax) . ; . ._ -. ��. ��-�? `�`��'��. �'� ��.a. .�' ` :--�.. . - � Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. K. Receipt of March 2012 Financial Reports Prepared By Sue Virnig, Finance Director Summary The monthly financial report provides a progress report of the following funds: General Fund Operations Conservation/Recycling Fund (Enterprise Fund) Water and Sewer Utility Fund (Enterprise Fund) Broakview Golf Course (Enterprise Fund) Storm Utility Fund (Enterprise Fund) General Fund Operations: As of March 2012, the City is using $2,501,503 of fund balance to balance the General Fund Budget. Attachments • March 2012 General Fund Financial Reports- unaudited (2 pages) • March 2012 Conservation/Recycling Fund Financial Report- unaudited (1 page) • March 2012 Water and Sewer Utility Fund Financial Report - unaudited (1 page) • March 2012 Brookview Golf Course Fund Financial Report- unaudited (1 page) • March 2012 StQrm Utility Fund Financial Report - unaudited (1 page) Recommended Action Motion to receive and file the March 2012 Financial Reports. City of Golden Valley Monthly Budget Report- General Fund Revenues March, 2012 (unaudited) Percentage Of Year Completed 25.00% Over % 2012 March YTD (Under) of Budget Type Budget Actual Actual Budget Received Ad Valorem Taxes $11,702,050 0 0 ($11,702,050) 0.00% (1) Licenses 173,80Q 15,510 41,903 ($131,897) 24.11% Permi#s 62$,07Q 52,377 146,729 ($481,341) 23.36% Federal Grants 0 0 0 $Q State Aid 10,500 0 0 ($10,500) 0.00% (4) Hennepin County Aid 0 0 0 $0 Charges For Services: General Government 43,550 196 986 ($42,564) 2.26% Public Safety 181,745 12,180 42,Q08 ($139,737) 23.11% Public Works 125,000 18,716 29,855 ($95,145) 23.8$% Park & Rec 395,350 42,217 107,011 ($288,339) 27.07% Other Funds 1,001,50� 0 5,974 ($995,526) 0.60°l0 Fines & Forfeitures 260,OQ0 36,486 63,430 ($196,570) 24.40% (2) Interest On Investments 110,000 0 0 ($110,000) 0.00% (3) Miscellaneous Revenue 182,700 8,967 14,196 ($968,504) 7.77% Transfers In 86,810 0 0 ($86,810) 0.00% TOTAL Revenue $14,901,075 $186 649 $452,092 ($14,448,983) 3.03% Notes: (1) The first half taxes will be received in July. (2) Fines and Forfeitures is through February. (3) Investments will be bovked at year end. (4) State Training will be received in August. March, 2012 (unaudited) Over % 2012 March YTD (Under) pf Budget Division Bud�et Actual Actual Budget Expend. Council $287,755 44,899 84,760 ($202,995) 29.46% City Manager 697,925 49,543 147,786 (550,139) 21.18% Admin. Services 1,572,160 91,007 314,279 (1,257,881) 19.99% Legal 12Q,000 14,446 2�,416 (94,584) 21.18% (2) General Gov't. Bldgs. 570,855 56,684 99,643 (471,212) 17.46% Planning 317,035 20,895 69,038 (247,997) 21.78°/Q Police 4,701,500 355,582 1,060,702 (3,640,798) 22.56°!0 Fire and Inspections 1,554,480 130,354 353,181 (1,201,299) 22,72% Public Works Admin, 315,365 26,275 72,460 (242,905) 22.98% Engineering 663,425 18,535 55,724 (607,701) $.40% Streets 1,386,530 100,668 280,071 (1,106,459) 20.20°fo Cammunity Center 75,355 4,733 13,608 (61,747) 18.Q6% Park & Rec. Admin. 646,275 48,780 141,935 (504,340) 21.96% Park Maintenance 996,780 56,909 187,796 (808,984) 18.84% Recreation Programs 410,925 7,752 43,625 (367,300) 10.62% Risk Management 290,000 2,121 3,571 (286,429) 1.23% Transfers Out 294,710 0 0 (294,710) 0.00% (1) TOTAL Expenditures $14,901,075 $1 029,183 $2,953,595 ($11,947,480) 19.82% (1) Transfers are made in June. (2) January legal fees would be paid in February. City of Golden Valley Monthly Budget Report-Conservation/Recycling Enterprise Fund March, 2012 (unaudited) Over 2012 March YTD (Under) % Budget Actual Actual Budget Current Revenue Hennepin County Recycling Grant 51,425 Q 0 (51,425) 0.00% Recycling Charges 276,000 21,047 44,788 (231,212) 16.23% (3) Interest on Investments 5,000 0 0 (5,000) 0.00% (1) Total Revenue 332,425 21,047 44,78$ (287,637) 13.47% Expenses: Recycling 453,605 10,504 27,968 (425,637) 6.17% (2) Total Expenses 453,605 10,504 27,968 (425,637) 6.17% (1) Interest Earnings are allocated at year-end. (2) This includes through February services as of YTD. City of Golden Valley Monthly Budget Report-Water and Sewer Utility Enterprise Fund March, 2012 �unaudited) Over 2012 March YTD (Under) % Budget Actual Actual Budget Current Revenue Water Charges 4,022,955 208,522 519,405 (3,503,550) 12.91% Sewer Charges 3,236,245 214,952 553,214 (2,683,031) 17.09% Meter Sales 5,000 54 54 (4,946) 1.08% MCES Grant Program 0 0 0 0 Penalties 120,OQ0 11,068 23,337 (96,663j 19.45% Charges for Other Services 220,OQ0 2,181 9,403 (210,597) 4.27% State Water Testing Fee Pass Through 43,000 3,380 7,549 (35,451) 17.56% Certificate of Compliance 60,000 5,800 15,150 (44,850) 25.25% Interest Earnings 65,000 0 Q (65,000) 0.00% Total Revenue 7,772,200 445,957 1,128,112 (6,644,0$8) 14,51% Expenses: Utility Administratian 1,913,620 125,882 195,405 (1,718,215) 10.21% (1) Sewer Maintenance 2,441,390 193,373 717,030 (1,724,360) 29.37% Water Maintenance 4,098,800 213,612 911,87fJ (3,186,930) 22.25% Total Expenses 8,453,810 532,867 1,824,305 (6,629,505) 21.58°l0 (1)Contract work that was worked in 2011 has not been paid in 2012. (Audit payable) City of Golden Valley Monthly Budget Report- Brookview Golf Course Enterprise Fund(3) March, 2012(unaudited) Over 2012 March YTD (Under) % Budget Actual Actual Budget Current Revenue Fees and Lessons 879,100 37,891 37,981 (841,119) 4.32% Driving Range Fees 107,70Q 7,367 7,367 (100,333) 6.84% Par 3 Fees 195,150 6,236 6,236 (188,914) 3.20% Pro Shap Sales 82,000 3,314 3,314 (78,686) 4.04% Pro Shop Rentals 235,200 8,241 8,306 (226,894) 3.53% Concession Sales 218,200 6,293 6,293 (211,907) 2.88% Other Revenue 69,000 33,216 4Q,069 (28,931) 58.07% Interest Earnings 15,000 0 0 (15,000) 0.00% (1) Less:Credit Card Charges/Sales Tax (38,000) (35) (77) 37,923 0.20% Total Revenue 1,763,350 102,523 109,489 (1,653,861) 6.21% Expenses: Golf Operations 649,565 30,737 71,1$0 (578,385) 10.96% (2j Caurse Maintenance 721,620 55,361 106,152 (615,468) 14.71% Pro Shop 111,6Q0 28,1Q5 36,621 (74,979) 32.81% Grill 176,190 15,692 21,315 (154,875) 12.10°/a Driving Range 44,32Q 1,460 1,484 (42,836) 3.35% Par 3 Course 29,730 237 258 (29,472) 0.87% Total Expenses 1,733,025 131,592 237,010 (1,496,015) 13.6$% (1) Interest Earnings are allocated at year-end. (2) Depreciation is allocated at year-end. (3) Course opened on March 16. City of Golden Valley Monthly Budget Report-Storm Utility Enterprise Fund March, 2012 (unaudited) Over 2Q12 March YTD (Under) % Budget Actual Actual Budget Current Revenue Interest Earnings 40,000 0 0 (40,Q00) 0.00% (1) Storm Sewer Charges 2,228,920 180,043 502,212 (1,726,708) 22.53% Bassett Creek Watershed 1,080,200 0 0 (1,080,200) 0.00% State Grant-Other 0 10,596 13,517 13,517 Total Revenue 3,349,120 190,639 515,729 (2,833,391) 15.40% Expenses: Storm Utility 2,777,630 11,583 513,OS6 (2,264,574) 18.47% (2) Street Cleaning 121,780 20,106 28,377 (93,403) 23.30% Environmental Control 240,050 11,243 30,087 (209,963) 12.53% Debt Service Payments 435,125 0 0 (435,125) 0.00% Total Expenses 3,574,585 42,932 571,520 (3,003,065) 15.99°fo (1) Interest Earnings are al4ocated at year-end. (2) Depreciation is allocated at year-end and 2011 PMP is not complete. L�� Pali�e Departm�nt 763-593-8079/763-593-8098(fax) �� . �� _� � �. � � � Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 3. L. Authorization ta Approve Sending a Written Request to Hennepin County Administrator and Request Hennepin County Board Provide Public Safety Dispatch Services Prepared By Stacy Carlson, Chief of Police Summary Golden Valley has contracted for Police and Fire dispatch service with the City of Edina since January 2011. The service contract terms with the City of Edina require a 12-month termination notification. A second request for dispatch services through Hennepin County will take several months to approve so permission is being sought to send a request letter to allow time for a decision by the County Board and notification to the City of Edina if the request is ultimately approved. To formalize both the request to the County Board of Commissioners and Administrator Richard Johnson for dispatch services, Council is requested to apprave sending a letter to Administrator Richard Johnson and a resolution to the County Board indicating the request for public safety dispatching services. Attachments • Letter ta Hennepin County Administrator Richard Johnson (1 page) • Resalution Requesting that the Hennepin County Board Provide Public Safety Dispatching Services to the City of Golden Valley (1 page) Recommended Action Motion to authorize the City Manager to sign the request for dispatch services letter to Administrator Richard Johnson Motion to adopt Resalution Requesting that the Hennepin County Board Provide Public Safety Dispatching Services to the City of Golden Valley. ci�y�f �T�, � ��oo��i��y��d ��a��v�iA��,n��ss�z7 April 18, 2012 Mr. Richard Johnson Hennepin County Administrator A2400 Government Center 340 South 6th Street Minneapolis, MN 55487-0241 Dear Mr. Johnsan: This letter is an official request from the City of Golden Valley to use the dispatch services of the Hennepin County Sheriff's Office beginning January 1, 2014. We are currently under contract with the City of Edina for dispatch services and are required to give them a 12-manth notice of intent to terminate no later than December 2012. We are requesting you bring this before the Hennepin County Board of Commissioners for consideration and I will certainly avail Golden Valley staff to assist with answering any questions you may have. I appreciate your consideration in this matter. Sincerely, Thamas D. Burt Gty Manager 763-5�9�-�� x763-593-�109 �r��763-593-396� �nr��r.�c�lden�rall�yr�n,�� Resalution 12-29 April 17, 2012 Member introduced the faUowing resolution and moved its adoption: RESOLUTION REQUESTING THAT THE HENNEPIN CQUNTY BOARD PROVIDE PUBLIC SAFETY DISPATCHING SERVICES TO THE CITY OF GOLDEN VALLEY WHEREAS, the Golden Valley City Council is authorizing City Manager Tom Burt to officially request public safety dispatching services from Hennepin County via a letter dated April 18, 2012; and WHEREAS, Hennepin County currently dispatches for 23 law enforcement agencies and 19 fire departments at no cost to those agencies; and WHEREAS, it is believed that the Sheriff's Department is staffed adequately and would be able to provide the services to Golden Valley without having to add personnel; and WHEREAS, Golden Valley is the only City in Hennepin County without its own Public Safety Answering Point that is not dispatched by the Hennepin County Sheriff; and WHEREAS, the Golden Valley City Council would like to begin Hennepin County dispatch services beginning January 1, 2014; and NOW, THEREFORE, BE IT RESOLVED that the City Council of the Golden Valley formally requests that Hennepin County provide public safety dispatching for the City of Golden Valley, starting on January 1, 2014. Shepard M. Harris, Mayor ATTEST: Susan M. Virnig, City Clerk The mation for the adoption of the foregoing resolution was seconded by Member and upon a vote being taken thereon, the following voted in favor thereaf: and the foilowing voted against the same: whereupon said resalution was declared duly passed and adopted, signed by the Mayor and his signature attested by the City Clerk. �'.��" ��' �. City Administrati.onJCouncil 763-593-8003/763-593-8109(fax) Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 4. A. Public Hearing-Amending the Golden Hills Redevelopment Plan and Renaming It the I-394 Corridor Redevelopment Plan Prepared By Jeanne Andre, Assistant Director, Hausing and Redevelopment Authority Summary � In 2010 staff and the Housing and Redevelopment Authority (HRA) worked on revising the Golden Hills Redevelopment Plan ta reflect the changes to the City's Comprehensive Plan that came out of the I-394 Corridor Study. The goal was to amend the existing redevelopment plan to incorporate zoning changes implemented in 2008 and to expand the geagraphic area in the Redevelopment Plan to better correspond to the I-394 Mixed Use Zoning District, Proposed changes were reviewed by the City Council at a Council/Manager Meeting, by the Planning Commission and by the Housing and Redevelopment Authority at a public hearing that extended aver two meetings. Staff made plan revisions in keeping with the discussion that occurred during this process, but at its April 11, 2011, the HRA decided to defer final consideration of the amended plan because of continued uncertainties related to redevelopment of the MnDOT parcel, lacated at the east end of the redevelopment area. Continued negotiations between MnDOT, Global Qne Commercial and Metrapolitan Council Environmental Services have clarified development options for the area to the point that staff now recommends proceeding to update the redevelopment plan and expand its geographic area. The Plan was adopted by the HRA on March 13. On March 26 the Planning Commissian found that the Redevelopment Plan is cvnsistent with the City's Comprehensive Plan. Formal adoption of the Plan is before the City Council. The Planning Commission also recommended that the description of the Central Area (Map E) denote that the former Olympic Printing buildings at 701 and 801 Xenia Avenue South have been removed. The attached Plan reflects that change. Following a public hearing the Council should consider the attached Resolution that adopts the I-394 Carridor Redevelopment Plan, which is the Amended and Expanded Golden Hills Redevelopment Plan. The plan as presented generally corresponds to the I-394 Mixed Use Zoning District. Attachments • Resolution Approving Revision of the Redevelopment Plan for the Golden Hills Redevelopment Project and Renaming It the I-394 Corridor Redevelopment Plan, with Attachment A, the I-394 Corridor Redevelopment Plan (Amended and Expanded Golden Hills Redevelopment Plan) dated March 13, 2012 (23 pages) Recommended Action • Hold Public hearing on Amending the Golden Hills Redevelopment Plan • Motion to adopt Resolution Approving Revision of the Redevelopment Plan for the Golden Hills Redevelopment Area and Renaming It the I-394 Corridor Redevelopment Plan Resolution 12-30 April 17, 2012 Member introduced the following and moved its adoption: RESOLUTION APPROVING REVISION OF THE REDEVELOPMENT PLAN FOR THE GOLDEN HILLS REDEVELOPMENT PROJECT AND RENAMING IT THE I-394 CORRIDOR REDEVELOPMENT PLAN BE IT RESOLVED, by the City Council for the City of Golden Valley ("the Council" and "the City" respectively) as follows: Section 1. Recitals. 1.01. On October 16, 1984 the City adopted the Golden Hills Redevelopment Plan, which it amended on December 11, 1998. 1.02. It has been proposed that the City modify the Golden Hills Redevelopment Plan (the "Plan") as defined by Minnesota Statutes, Section 469.002, subdivision 16, by updating actions taken to date to fulfill the Plan, by expanding the area included in the Plan in keeping with the I-394 Corridor Study, by outlining actions yet to be taken, and by renaming it the I-394 Corridor Redevelopment Plan. 1.03. The Housing and Redevelopment Authority of the City of Golden Valley ("the HRA") has investigated the facts and pursuant to Minnesota Statutes, Section 469.001 to 469.047, has caused to be prepared a proposed revision of the Plan (the "Revised Plan") for the I-394 Corridor Redevelopment Area setting forth the information specified in Section 1.02, which it adopted on March 13, 2012. 1.04. On March 26, 2012, the Planning Commission reviewed the Revised Plan and found it in conformance with the City's Comprehensive Plan. 1.05. On April 5, 2012 notice of a public hearing on the desirability of amending the Plan was published, as required by law, in the official newspaper of the City. 1.06. The Council held a public hearing on the Revised Plan on April 17, 2012. Section 2. Approval of Revised Redevelopment Plan. On the basis of the Revised Plan adopted by the HRA and the information elicited from consultation with the Planning Commission and at the public hearing referenced above: 2.01. The Revised Plan proposes that the Authority undertake certain redevelopment activities for the purpose of encouraging redevelopment of properties in the Redevelopment Area. The Council hereby finds that the Revised Plan would improve the Redevelopment Area by retarding blight and encouraging private redevelopment of property therein, thereby increasing employment and housing opportunities and the tax base of the City and overlapping taxing jurisdictions. Resolution 12-30 - Continued April 17, 2012 2.02. The Council hereby finds that in certain cases the land in the Revised Redevelopment Project Area would not or may not be made available without the financial aid sought since private developers could not economically develop the Revised Redevelopment Project Area without the proposed redevelopment activities. 2.03. The Council hereby finds that the Revised Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of the Revised Redevelopment Project Area by private enterprise. 2.04. The Council hereby finds that the Revised Plan conforms to the general plan for the development or redevelopment of the City as a whole and is compatible with the City's zoning ordinances and other related regulations and encourages efficient use of existing infrastructure as set forth in the City's Land Use Plan. It is in the best interests of the City to approve the Revised Plan. 2.05. The Council hereby approves the Revised Plan attached hereto as Attachment A and directs that it be placed on file in the office of the City Clerk. Shepard M. Harris, 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 his signature attested by the City Clerk. Attachment A I-394 Corridor Redevelopment Plan (Amended and Expanded Golden Hilis Redevelopment Plan) Section 1. Introduction In 1984 the City adopted the Golden Hills Redevelopment Plan. The Project Area originally covered 93.72 acres of commercial and industrial properties centered near the anticipated intersection of Xenia Avenue and the to-be-constructed I-394. It is now expanded to include 272.19 acres and renamed the I-394 Corridor Redevelopment Plan. All areas in the expanded area are designated in Maps A and B and in individual maps detailing each subdistrict. The original redevelopment area had a westerly boundary of Colorado Avenue and a northerly boundary on Laurel Avenue. (Includes Areas designated South, East, Central and West.) In 1999 the Project Area was expanded to take in property north of Laurel Avenue along a corridor that extended Xenia Avenue northward and incorporated the new Davis Community Center. (Added the area designated Xenia Avenue Extension.) In 2007 the City completed the I-394 Corridor Study, which included most of the Golden Hills Redevelopment Area and the largely industrial property extending west to Rhode Island Avenue South. The amended Plan expands the amended Golden Hills Redevelopment Project Area to include parts of the I-394 Corridor Study Area and renames the Plan to reflect this addition. (Adds areas designated Florida, Louisiana East, Louisiana West, and Rhode Island.) Map A: I-394 Corridor Redevelopment Area �, . , :�,�.. � ; �' � Location and Extent ' �' ° �- '� , �, � t � . f ; � ` :...�•.r9-^_.�. �`-� �� ,�_ � � � i��,t� .�a [�i� i +-- s � t T� i, `,�i� . �� ° t ' i� s '1�� . � � f i : � � �'q .v.`�� ,": � � �'--- . � . ,. . �.� ��\c� r Y � � �. .. - � -� �- dt.. . �,� L p �� , Y� f �� 1 't j° `��5 � �F i I 4 '� � , A�. � ,` � � � � i '� � �� ,, i � ..� , :� � ---� , � `�,�,�� t,�,'� �,+-��;.. (r_ -•s— , ; .- . f � �J�� ' � �.• �0 � � +}r� � �F+ a 1� h� .tT' , �� { q n f�, E 1 ' ,,a, +'. �. � _�.,.: �" ,,.�, � '� ' � . '��°' ,��' i � F �' ' �_ ,..�. � �. � f' �� /}. -'�",_ 'J : "h'p�.; ;� a ;�� 1 w _ 17 .. �, t_ � �.. . . . � \` ' �i �.� .. . ( �.,} �:�� . ' y� �3 �—f` d . , � � � � _ . ' S`.�� '°i>7 t i ,;; �,,' *�,- .... �:�, !� ,! �� ,��- �� ..� �:.._______�__'�r�� ,' F � ,{$� �.��:,:.��-y..:.�,m. �y° � ~��`� s \ �/�'''�i ..� s�� t � � � �� ;�4 f�.1f�..�� N�. ., �`�`�� s� . � I ��''' � � � �� . yy p_ � � � ; y r {. R: -1 /- \ �{' �.. �' '-�•,,,l,. . � if �tl ��j ff �.` ' , i �� ' ( �'� /� 7 li 9'!� � �� -ti� i � �� 1� i _.. � � �` ..�.. � d.l� �,r~`� '';�"�*u XawlMq� `i� - ..¢ r _ '. f �I�"��'}{� �' raT°ns,o^ ��' i� '�i �'F ,� a.+ s - -' q L.. •(. q . .... � k `� + _ � �, _ � � � �' w ' >,... �� ,��. i . - %f � fi"� Lwivm� �r `"� ��?""i..'_..��.�,. � V _ wPSr ��' � ''�`,� . �� ,�i$j�?��.�I Section 2. Statement of Need and Public Purpose, Statutory Authorization The Authority finds that there is a need for development within the City and the Project Area in order to provide employment and housing opportunities, to improve the local tax base, and to improve the general economy of the City and the State. The economic security of the people in the City depends upon proper development of property that meets any one of a number of conditions, including properties whose values are too low to pay for the public services required or rendered and properties whose lack of use or improper use has resulted in stagnant or unproductive land that could otherwise contribute to the public health, safety, and welfare. The Authority finds that in many cases such property cannot be developed without public participation and assistance in various forms including property acquisition and/or write- down, proper planning, the financing of development costs associated with clearance, grading and soils correction, and the making of various other public and private improvements necessary for development. In cases where the development of property cannot be done by private enterprise alone, the Authority believes it to be in the public interest to consider the exercise of its powers, to advance and spend public money, and to provide the means and impetus for such development. The Authority finds that in certain cases property within the Project Area would or may not be available for development without the specific financial aid to be sought, that the Redevelopment Plan will afford maximum opportunity, consistent with the needs of the City as a whole, for the development of the Project Area by private enterprise, and that this Redevelopment Plan conforms to the general plan for the development of the City as a whole. It is the intention of the Governing Body, notwithstanding the enumeration of specific goals and objectives in the Redevelopment Plan, that the Authority shall have and enjoy with respect to the Project Area the full range of powers and duties conferred upon the Authority pursuant to the Housing and Redevelopment Authority (HRA) Act, the Tax Increment Financing (TIF) Act, municipal housing and redevelopment authority laws, and such other legal authority as the Authority may have or enjoy from time to time. The HRA Act authorizes the Authority to exercise all the powers relating to a housing and redevelopment authority granted under Minnesota Statutes, Sections 469.001 to 469.047, or other law. Section 3. Background One of the reasons for establishing the Golden Hills redevelopment area was to provide a means for addressing issues and opportunities arising in connection with plans to upgrade old Trunk Highway 12 (now I-394) to interstate highway status. The City's first step was to enact a construction rnoratorium along the entire Highway 12 corridor from September 1979 to September 1980 while waiting for the final I-394 design plans. Following a period of background research and documentation, Golden Valley's 1982 comprehensive plan update identified part of the highway corridor as a "study area" due to "signs of deterioration within the area and potential for redevelopment in conjunction with anticipated upgrading of Highway 12 to I-394." Another moratorium from April 1984 to April 1985 allowed the HRA to establish the Golden Hills redevelopment area, Golden Hills Tax Increment Financing district, and related plan documents for both. The original Golden Hills Redevelopment Plan examined then-existing land use conditions, determined appropriate long-term land use categories, and established more specific redevelopment uses that corresponded to the land use categories. The original Golden Hills plan anticipated programming of redevelopment activities over a period of five to ten years. A real estate market decline in the late 1980s and circulation disruptions while the new interstate highway was under construction significantly slowed redevelopment. The need for improved north/south access into and through Golden Hills to accommodate and facilitate the full extent of redevelopment activity contemplated in the plan was the impetus for adding the Xenia Avenue Extension Area to the Project Area in 1999. The existence of excess railroad right-of-way located just north of the Golden Hills Central Area offered an opportunity to provide improved access to the redeveloped areas. The I-394 Corridor Study area was identified as susceptible to land use change due to its location along I-394, its proximity to other major freeways, and its direct access to Downtown Minneapolis. Based on Study recommendations the City Council, effective December 1, 2008, adopted the new I-394 Mixed Use Zoning District. The City Council also re-guided the Comprehensive Plan to incorporate this change in land use. As this area has significant development in place, the change in land use will only happen through redevelopment. Section 4. Guiding Principals As part of the I-394 Study process, guiding principals were adopted and approved. The principles are concise statements that establish the direction and intention of the study. They were adopted by the City Council in December 2005. These principles have been modified for the Golden Hills Redevelopment Plan to guide future redevelopment along the I-394 Corridor. 1. Enable the corridor to evolve toward a diverse mix of land uses, including residential as well as commercial and industrial. A mix of activities, uses, and densities will help sustain the corridor through changing economic cycles, consumer preferences, and housing trends. Mixed uses can create synergies and increase the level of pedestrian activity. Active uses (such as retail) at ground floor level can help to create activity after working hours. At the same time, the corridor should complement, not compete with, the Hwy 55/Winnetka district, the City's civic downtown. 2. Maximize integration rather than separation of land uses, where appropriate. Many land uses can benefit from increased integration with one another, including neighborhood- serving retail, multi-family and senior housing, offices, and low-impact services. Existing non-conforming land uses, such as auto-oriented commercial or industrial uses, can benefit from integration with newly permitted uses. Redevelopment is subject to design guidelines, as specified by the Zoning District. 3. Maintain the corridor as an employment center. Jobs within the corridor help maintain Golden Valley's jobs-housing balance while sustaining commercial enterprises. Fostering 'living wage' jobs should be a priority in redevelopment projects. 4. Improve the visual coherence and attractiveness of the corridor. Improvements in streetscapes, landscaped areas, open spaces, building aesthetics, and parking/service areas all contribute to a more unified and visually appealing environment, with an increased sense of identity. Buildings and other private improvements should make positive contributions to the district and the broader public realm, while public improvements should set the standard for private investment. 5. Improve connectivity for all modes. The development of I-394 and subsequent road realignments have resulted in a discontinuous and confusing circulation system. Improvements in east-west vehicular circulation and north-south pedestrian circulation are most needed; however, roadways should be designed to be attractive and safe for all modes af travel. Xenia Avenue, Golden Hills Drive, Turners Crossroad, Louisiana Avenue, and Laurel Avenue are to be preserved as primary arterial traffic corridors. 6. Foster neighborhood-serving retail and services. Commercial development should include a variety of small independent businesses and larger enterprises that serve City residents, supplementing and broadening the current mix of commercial uses. 7. Maintain or improve the functioning of intersections and highway interchanges. The functioning of the I-394 interchanges at Xenia and �ouisiana Aves, and other key intersections within the corridor, is critical to maintaining commercial viability and neighborhood quality of life. New development must be carefully planned, evaluated, and designed so that interchanges and intersections continue to function at an adequate level. 8. Foster sustainable development and work to establish a balance between urban and natural systems. Encourage the application of green building and infrastructure techniques. Examples include low-impact development that maintains the natural functions of the land, reduces storm water runoff, and fosters resource conservation and the use of renewable systems in new construction. 9. Implementing and facilitating all modes of transportation. In recent years, traffic congestion on Interstate 394 has become increasingly worse. New development along the corridor must emphasize the usage of mass transportation, car pooling, and non-motorized transportation. In addition, aspects of active living must be considered in developments. Section 5. Redevelopment Plan Components The I-394 Corridor Redevelopment Project Area is divided for planning purposes into nine sub-areas (Exhibit B), five from the Golden Hills Redevelopment Plan and four new ones. Included in the originalty-established boundaries are the West Area, the Central Area, the East Area, and the South Area. The Xenia Avenue Extension Area was added in 1999. The four new areas are the Florida Avenue, Louisiana East, Louisiana West and the Rhode Island Areas. The following pages describe each sub-area in turn, outlining land use characteristics and summarizing planned and completed redevelopment activities. A substantial amount of additional documentation on initial property conditions can be found in the original Golden Hills plan and in other records maintained by the HRA. Section 6. Methods of Financing The City and its Housing and Redevelopment Authority plan to use tax abatement, tax- increment financing, public improvement financing and/or the sale of bonds to support projects within the Redevelopment Area. New financial plans will be created as necessary and will be approved as part of a specific project. al � •w —� � Q N �� Q•N � - C�' � � � � � � '� � � � Y I � � + XW n - s 0 �CR"� 'MM31 NnV1 " I - _ .� � � � � �J .� �H 3r,�i ,�' � o W �,o aq� �, � ln '// a �!t Q+.`la��SS!7+�;, 1�H`iNtll".1 :'�I � l � �ni� � 4 � v��' �� a � Qu^ 4 �nv �,,,;,�%'°�=' � __._ i. � 'h At.F�. �`.„ I � �3so� ,, ., �� '�, 4 � �` on x3� I � � r Y� � N � � ,� nn s` .(��'�,p. yP�, 1lw 7q� /� O' � ii �S 3AV Q lm�i � 7i�iASNf17N -ar.y � � "�.y �wn �►� .OS '3nY � .. .._.. _ � —`. M� 44 b3Srmi0a �� H3Q�:Y) Y/ � J� � � AV CODA3�3 Os 3nv w�s.,r � a�3� vution Z`j j �iu L� # }�,�1:5 '3nV o /W�/ 1 3/1Y a �� +af77,� LL ii ]t103rJ � '�' nc L 3illFiSdMVH Q 111� � i1S '3hV p � '31�tl N/W117p�'A � �....__... . .. � c � � .. , � „��;.< � .� z ; W i I — •� 'ay ']/�y N �p$ 3�Y A7SILY J � < � � A3SM3(' �' � I/ ' !� ^ � 'ON 3nV 9s 3nv � ',,.I --� x � �_ AM�lilN3H ��;� �y � '3hY tlNtlIS[fCil LT '3AV TJ � � � rNYlSfiQ�s „��c"aa � � � � 'OS 3nv VM�dS1l1 i r �.,.�. �i � v� ` �,�,� , � � ._ �bYd Ydy/4iy (� � i�lU � �, x�� '� '�nv 'V1 � •• +� �6'"�'-�ta � �� Q� ��`ns �3nv� �,+- , _ � —� � � � �° � ' � V'1 W WbS �.)I�`' '�'l'�,�.., � �F � �+ l � ' I� J I VM13NNlA .� � � � ` �3nv aa�,�r� �� . 'v S � I Map C: South Area - � - `;;.�, �� \i+, '�''. i� � ti � ;'�' _ �� lii'i / Land Use This sub-area constitutes one end of a large redevelopment site that spans the Golden Valley/St. Louis Park city limits. The property owner's long-range plans include expansion of its office park. The buildings in this sub-area have been demolished and the property owner/developer has proposed the construction of a parking deck to support the office uses. Boundaries and Size Bounded on the west and south by the city limits and on the east and north by the Highway 100/I-394 interchange. Approximately 7.1 acres in size. Map D: East Area ��;�� > ,s.�r �... _.._ _.__ _ r_ __._____�.._�____�._ I ��.s„e � - Land Use There has been little redevelopment activity in this sub-area to date. Some private redevelopment has occurred. In 2001, the nursing home at the southeast corner of Circle Down and Turners Crossroad was converted to office use and in 2004, portions of the Golden Hills Shopping Center were demolished. The remaining portion of the shopping center is now fully occupied by restaurant uses. A vacant 4.5 acre site east of the shopping center is owned by MnDOT. It has been declared excess property and is available for redevelopment. Since the construction of Interstate 394, traffic and roadway alignment in this area has been an issue. In the future, traffic movement in the area could be evaluated to see if alternative roadway alignments could improve neighborhood circulation and access. Boundaries and Size Bounded on the west by Turners Crossroad, on the south by the city limits/I-394 fence line, on the east by the Highway 100/I-394 interchange, and on the north by the south boundary of a row of single family lots lining the south side of Circle Down. Approximately 13.97 acres in size. Map E: Central Area _______.._ , .� � �o�" �' _ �. � � � 0 � � 4 �- - aR. ,��r�> - � t� � � w I z � � ssa� E- tiLV Land Use This sub-area includes the Colonnade office tower (409,000 sq. ft.) The Golden Hills business center (190,758 sq. ft.) and the Allianz world headquarters (600,000 sq. ft.). Sites available for redevelopment include a 2 acre site adjacent to the Colonnade, zoned through PUD for a 250 unit suite-hotel. At the northwest corner of Xenia and Golden Hills Drive, two blighted buildings have recently been removed. The approximately 6 acre site is available for redevelopment. Boundaries and Size Bounded on the west by the Soo Line railroad, on the south by the adjusted city limits/I- 394 fence line, on the east by Turners Crossroad, and on the north by Laurel Avenue. Approximately 42.7 acres in size. Map F: Xenia Avenue Extension Area � :� w � cr � _ ' __.� '`�.. � �_. - -----.--� _ —--- - �_�� --� Q ss.�s ��M .��.s� �� , �'� �. _ � sesd� � 'j� �� !� �j f J �/ t , _ . , _ i �;,�`i � �' .)�� ,�'s�� Land Use This new sub-area of Golden Hills, as its name implies, provided for the extension of Xenia Avenue northward from Laurel Avenue to a new terminus at Turners Crossroad north of Glenwood Avenue. The street extension alleviated a hazardous intersection at Glenwood Avenue and Turners Crossroad and simplified the poorly-defined north/south access route between the Central Area and the rest of Golden Valley. Boundaries and Size Bounded on the west by a westerly branch of the Soo Line Railroad, on the south by Laurel Avenue, on the east by Turners Crossroad, and on the north by Glenwood Avenue and an easterly branch of the Soo Line Railroad. Approximately 38.3 acres in size. Map G: West Area ;� , <�?,�,;, �� . 6/4'S z w . c� � c� ca 60.�!? ! �V�YZA7H Land Use This sub-area has been redeveloped to include a 109 unit Holiday Inn Express hotel and 253,549 sq. ft. of office warehouse space. Under the new I-394 Mixed Use Zoning District these parcels could be developed to incorporate a wide range of uses, including: • Multiple Family Residential • Elderly and Handicapped Housing • Commercial • Medical Clinics • Institutional Boundaries and Size Bounded on the west by Colorado Avenue, on the south by the adjusted city limits/I-394 fence line, on the east by the Soo Line railroad, and on the north by Laurel Avenue. Approximately 31.7 acres in size. Map H: Florida Avenue Area � _., � _ � ;. �..-� , � ,: .� ,� :� � � 4> i �� , I I � ..._.. .._..._,......., � . �� --- - _-G . � rs7srsi? 61,'.dt7 �cv Q C� ,�...: � � � 6��/O�� W . 6I� _._ -�--- �''__-r.` � �.fL� D q t °3 ----- __ --'"--��; kt 'e '�a �_ Land Use This sub-area currently includes office, light manufacturing, and restaurant uses. It is focused around Florida Avenue, and is guided to have mixed-use development. More intense land uses would be preferred along the southerly section of the area, adjacent to Wayzata Boulevard. Boundaries and Size Bounded on the west by Hampshire Avenue South, on the south by Wayzata Boulevard, on the east by Colorado Avenue South, and on the north by Laurel Avenue. Approximately 40.2 acres in size. Map I: Louisiana East Area . , :...� � { �� 4 �11� ..`.g �� ''�� d� a,.,. �� ,�..��-�-�_,.� ��,� � � � �t�"��;�� eS"9'�":�"�'s €�;� i f � ; � � �� , � �� 6��G�-E�i��`�' � tfi.�s`'�/' tS`.9<�' ; �.,�..�...._.._�R_ ________ �_ Land Use This sub-area includes office, retail, light industrial, automotive service, and restaurant uses. This area is guided to have mixed use development. More intense land uses would be preferred along the southerly section of the area, adjacent to Wayzata Boulevard. The area includes the easterly section of the Louisiana Avenue interchange with Interstate 394. Boundaries and Size Bounded on the west by Louisiana Avenue South, on the south by Wayzata Boulevard and Interstate 394, on the east by Hampshire Avenue South, and on the north by Laurel Avenue. Approximately 27.9 acres in size. Map J: Louisiana West Area .9I3 r:ron _.__�,.._._A;'E � � ti �' a.�$' �a MARKET a z ¢ ir> � O � �O /Ii� f� � Land Use This sub-area includes office, light industrial, automotive sales and service, and restaurant uses. This area is guided to have mixed use development. More intense land uses would be preferred along the southerly section of the area, adjacent to Wayzata Boulevard, and along the eastern section of the area, adjacent to Louisiana Avenue. Boundaries and Size Bounded on the west by Pennsylvania Avenue South, on the south by Wayzata Boulevard and Interstate 394, on the east by Louisiana Avenue South, and on the north by Laurel Avenue, with the addition of two parcels north of Laurel Avenue, east of Pennsylvania Avenue South and west of the West Ring Pond. Also includes the two parcels north of Laurel Avenue and east of Pennsylvania Avenue. Approximately 39.46 acres in size. Map K: Rhode Island Area �� B.t3' � �� f��E i � �s�Q �; �; � �� Land Use This sub-area includes office, light industrial, and automotive-related uses. The area is guided to have mixed use development. The area is directly adjacent to a single family residential neighborhood. Therefore, less intense land uses are desired for this location. Boundaries and Size Bounded on the west by Rhode Island Avenue South, on the south by Wayzata Boulevard, on the east by Pennsylvania Avenue South, and on the north by Laurel Avenue. Approximately 16.8 acres in size. Section 6. Land Use Traditionally, the I-394 Corridor has been comprised of primarily industrial, commercial, and office uses. The transition of the corridor to mixed uses requires that individual land uses work to complement one another and enhance the cohesiveness of the area. Standards have been developed for individual land uses to increase their ability to coexist among other land use designations within the corridor. 1. Housing Housing, in a variety of configurations (multi-story multifamily buildings, the upper floors of mixed-use buildings, attached single-family units such as townhouses) and including rental and owner-occupied (condominium or cooperative), will be incorporated in the Project Area. An emphasis on lifecycle housing will be emphasized in the corridor. Current Development: A limited amount of housing currently exists within the Amended Golden Hills Redevelopment Area. 2. Commercial retail and service uses The Project Area will include commercial retail and other service uses that are integrated into mixed or multi-use developments, gradually moving away from the current pattern of small free-standing convenience retail. A grocery store is also encouraged as a medium-sized freestanding retail facility that would meet neighborhood needs. Current Development: Commercial uses within the proposed I-394 Redevelopment Area currently include fast-food and casual dining restaurants, big-box retailers, a gas station, auto dealerships, and several independent retailers and service providers. 3. Business and professional office uses. Office uses often have significant traffic impacts. The I-394 Mixed Use Zoning District will typically require traffic analyses and subsequent traffic management plans to minimize traffic congestion. Current Development: Several large-scale office buildings exist in the Project Area. They are typically part of a Planned Unit Development (PUD). Professional offices also currently exist as components of existing business operations. 4. Open space. The development plan does not identify any sites for new public parks or plazas, but large developments would be encouraged to provide improved open space as part of their composition. Plazas and open space available to the public will be encouraged in private developments. Enhanced streetscape treatments along major streets will also enhance the area's appearance. Current Development: No public open space exists in the proposed I-394 Redevelopment Area. However, the Laurel Avenue Greenbelt exists to the north of the area, and serves as an important buffer between the Project Area, and the less intense land uses in the R-1 Residential Zoning District. 5. Existing industrial uses. No industrial uses are planned for the Project Area. Current Development: A number of large industrial facilities, automotive sales and service facilities are located in the Project Area. These uses could remain in the area indefinitely, but the City will consider redevelopment or reuse proposals for sites that may be ready for more intense and market-responsive uses. Section 7. Goals, Objectives, and Policies To achieve its mission of structured redevelopment, the Golden Hills Redevelopment Plan has instituted goals, objectives, and policies. These items, listed below, encourage cohesive planning and structured redevelopment within the Project Area. Goal 1 — Community Enhancement Objectives ■ Increased jobs and tax base. • Visually attractive development. ■ Recognizable features which reflect Golden Valley and enhance community identity. ■ Job and tax-based growth at environmentally sustainable levels. Policies The City will study planned land uses in the Project Area after all zoning changes are in place, to determine the need or desirability of area-wide plan amendments accommodating altered land use demand. Goal 2 — High Quality Development Objectives ■ High quality new developments that are visually attractive and respect their surroundings. • Development that meets environmental criteria set forth by Leadership in Energy and Environmental Design (LEED) and the United States Department of Energy. ■ Use of environmentally sustainable 'green building' practices when possible. ■ Development that meets criteria for active living. Policies The City will assure that its review processes, zoning, and building regulations are designed to promote desired development projects. The City will establish a list of qualifying criteria to serve as a selection standard for targeting Community Development Block Grant or other redevelopment funds. The City will review existing properties to consider their long term viability and/or options for alternative use. The City will consider various approaches and/or incentives to promote a Project Area beautification program. This program could include public and private components. Goal 3 — Redevelopment of Obsolete Properties Objectives ■ Redevelopment of parcels that are blighted, functionaily obsolete, economically unsustainable, or incompatible with adjacent uses. Policies The City will assure that new uses in the redevelopment area are compatible with existing development and the City's land use plan. The City may consider providing public subsidy to those redevelopment projects that serve a substantial public purpose, remove blight, or mitigate contamination. Goal 4 — Protection of the Environment Objectives ■ Preserve and enhance wetlands • Prevent and correct soil and wetland contamination ■ Preserve and cultivate arborous environments • Restore native vegetation where appropriate ■ Maintain existing natural features ■ Reduce light in the night sky • Co-locate higher density uses with commercial services to reduce the amount of auto travel and corresponding air pollution Policies The City will remain a leader in urban environmental protection by promoting area parks and open space, and setting development standards that uphold environmental guidelines. The City will continue to explore Sustainable Development research, for possible incorporation into future updates of this plan. Goal 5 — Maintain a Regional Framework Objectives ■ Implement Metropolitan Council growth and development policies when appropriate. ■ Take advantage of State and County funding. ■ Maintain a positive relationship with surrounding communities and governmental agencies. ■ Continue to support traffic management plans. Policies Accommodate mixed use developments and increase land use density where appropriate in accordance with the Metro Council's regional growth strategy. Monitor need for additional transit opportunities and encourage the development of local and regional transit opportunities within the Project Area. i-394 Corridor Redevelopment Plan Appendix: Redevelopment Area Property Identification (PID) Numbers — March 2012 Year PID Address 2012 TMV 2012 Use Constructed SOUTH AREA 3002924310003 5075 Wa zata Bivd 1,554,000 Duke/VacantlParkin Lot 3002924310002 1400 State Hw No 100 S 1,405,000 DukeNacant/Parkin Lot 3002924310035 1500 State Hw No 100 S 1,769,000 Duke/Vacant/Parkin Lot EAST AREA 3002924230047 5411 Circle Down 1,305,000 1 Stor Office 1957 3002924230002 1201 Turners Crossroad S Exem t Use 086 HRA Vacant 3002924230003 5426 Wa zata Blvd Exem t Use 082 MnDOTNacant 3002924230058 MnDOT Parcel Exem t Use 082 MnDOTNacant 3002924230063 5410 Wa zata Blvd 2,984,000 Restaurant/Caterin 1985? 3002924240016 MnDOT Parcel SF Residential Vacant 3002924240017 MnDOT Parcel SF Residential Vacant 3002924230050 5311 Circle Down Exem t Use X99 Multi Famil 1962 3002924230057 5307 Circle Down 909,000 Multi Famil 1962 3002924240016 MnDOT Parcel SF Residential—Vacant 3002924240017 MnDOT Parcel SF Residential —Vacant CENTRAL AREA 0411721240027 5500 Wa zata Blvd 6,150,000 Parkin Ramp 1987 0411721240028 5500 Wa zata Blvd 35,363,000 Colonnade 1988 0411721240024 700 Xenia Ave S 1,573,000 Vacant Lot 0411721240025 800 Xenia Ave S 2,247,000 Vacant Lot 0411721240029 28 Address Pendin 873,000 Colonnade Entrance 0411721240030 28 Address Pendin 1,582,000 Vacant 0411721240032 701 Xenia Ave S 24,799,000 Golden Hills Office 1999 0411721240038 5701 & 5709 Golden Hills Dr 64,127,000 Allianz 2000 WEST AREA 0411721230050 28 Address Pendin SOO Line Railroad 0411721230052 105 Golden Hills Dr 7,070,000 1 Stor Office/Warehouse 1999 0411721230053 6100 Golden Hills Dr 6,638,000 1 Stor Office/Warehouse 1999 0411721230054 5900 Golden Hills Dr 7,648,000 1 Stor Office/Warehouse 1995 0411721230055 6020 Wa zata Blvd 4,772,000 Hotel 1995 0411721230056 28 Address Unassi ned Exem t Code 086 Pond 0411721240037 28 Address Pendin Exem t Code X98 XENIA AVE EXTENSION AREA 3311821340053 5430 Glenwood Ave Exempt Use 030 Davis Communit Center 0411721210002 5501 Glenwood Ave Exem t Use 060 Church 1962 0411721210003 5501 Glenwood Ave Exem t Use 060 Church 1956 0411721210035 250 Turners Crossroad S 13,533,000 Multi Famii 2004 0411721210023 00 Turners Crossroad S Exem t Use 086 Fire Station 0411721210004 5601 Glenwood Ave 1,503,000 Multi Famil 1964 0411721210005 5635 Glenwood Ave 339,000 SF Residential 1949 0411721210007 5701 Glenwood Ave 188,000 R2 Residential 1938 0411721210006 5745, 5747 Glenwood Ave 997,000 Multi Famil 1963 0411721210033 28 Address Unassi ned Exem t Use X98 Pond 0411721210008 5743 Glenwood Ave 498,600 Multi Famil 1963 0411721210024 5610 Laurel Ave 4,705,000 Multi Famil 1979 FLORIDA AVE AREA 0411721230036 700 Colorado Ave S 2,050,000 Bell Mf . — Industrial 1979 0411721230003 800 Colorado Ave S 1,645,000 Ron-Vik 1961 0411721230004 900 Colorado Ave S 810,000 1959 0411721230005 6250 Wa zata Blvd 711,000 1966 0411721230057 6210 Wa zata Blvd 1,593,000 Venture Bank 1962 & 2011 0511721140024 715-765 Florida Ave S 6,000,000.00 1970 0511721140002 6300 Wa zata Blvd 3,090,000 Su er 8 Motel 1980 0511721140023 6400 Wa zata Blvd 1,200,000 Restaurant—JJ's 1981 0511721140022 6440 Wa zata Blvd 2,060,000 Restaurant—Osaka 1980 0511721140010 6480 Wa zata Blvd 590,000 1958 0511721140025 700-730 Florida Ave S 2,050,000 PRISM/ 1960 0511721140015 850 Florida Ave S 765,000 3`d Lair Skate Park 1958 0511721140016 900 Florida Ave S 1,233,000 Collision Center 1965 0511721140026 620 Wa zata Blvd 1,550,000 Restaurant—Taco Bell 1998 705, 715, 719, 721 0511721140005 Ham shire Ave S 2,238,000 1970 0511721140019 905 Ham shire Ave S 2,099,000 Borton Volvo 1999 0511721140008 6660 Wa zata Blvd 1,000,000 Restaurant— Bur er Kin 1973 LOUISIANA EAST AREA 0511721130023 6800 Wa zata Blvd 10,591,000 Menards 2012 0511721130017 6901 Laurel Ave 2,034,000 Boulevard Collision 1993 0511721130018 801 Louisiana Ave S 1,820,000 Jim Lu ient—Auto 1994 0511721130016 701 Louisiana Ave S 1,227,000 Jim Lu ient—Auto 1995 0511721130015 751 Louisiana Ave S 1,283,000 Jim Lu ient—Parkin Lot 0511721130022 6925 Market St 673,000 Jiff Lube 1995 0511721130011 6920 Wa zata Blvd 1,500,000 Restaurant-Perkins 1962 0511721130020 6955 Market St 1,198,000 Su erAmerica 1995 0511721130021 6944 Wa zata Blvd 1,367,000 Car X Auto Service 1995 0511721130019 901 Louisiana Ave S 1,860,000 Mermaid Car Wash 1995 LOUISIANA WEST AREA 0511721240007 28 Address Pendin 910,000 Lu ient—Parkin Lot 0511721240008 850 Louisiana Ave S 2,059,000 Benihana 1980 0511721240009 7100/7200 Wa zata Blvd 9,600,000 Lu ient—Auto 1967 0511721240001 7400 Wa zata Blvd 5,588,000 Morries Cadillac 1965 0511721240002 701 Penns Ivania Ave S 8,087,000 Libert Diversified 1996 0511721240074 345 Pen�s Ivania Ave S Exem t Use 060 Warehouse 1959 0511721240075 7400 Laurel Ave Exem t Use 070 Workabilities 1981 RHODE ISLAND AREA 0511721230054 700 Penns Ivania Ave S 526,000 1961 0511721230001 710 &750 Penns Ivania Ave S 1,360,000 Lu ient—Auto 1971 0511721230055 840 Penns ►vania Ave S 815,000 Industrial—Weavewood 1962 0511721230058 1Q40 Penns Ivania Ave S 135,000 Qwest 1950 7600 Wayzata Blvd, Includes: 900, 904 and 1000 Pennsylvania Ave S, 7610, 7630 and 7650 Wayzata 0511721230004 Blvd 3,106,000 1960 0511721230057 7550 Wa zata Blvd 283,000 Ne tune Societ 1961 0511721230059 7500 Wa zata Blvd 229,000 Life Save Fire Protection 1968 0511721230002 675 Rhode Island Ave S 1,020,000 General Label 1960 0511721230003 825 Rhode Island Ave S 1,325,000 Norcostco 1959 L l��' {�� Planning Department 763-593-8095/763-593-8109(fax) ;_ ,. _.� ..��.�;�� . �� .;: ..,. ; ... ��:k�� _ „�� ,a� e. ��,��:�a � . u�.,.,a.. �._. _��d� .� �. �a�� Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 4. B. Public Hearing- Ordinance#482 -Amending Section 11.70, Regarding Minimum Number of Off-Street Parking Spaces Prepared By Joe Hogeboom, City Planner Bryanna Vidden, Planning Intern Summary The Planning Commission asked that staff perform an analysis of Golden Valley's parking requirements as they relate to current development trends. The Planning Commission thought that, perhaps, Golden Valley's parking requirements were too strenuous for certain land uses. Following data collection and field research, the Planning Commission recommends changing parking space requirements for multiple family housing, community centers, financial institutions, trade and training schools, clubs and lodges. Changes are illustrated on the attached section of City Code. Attachments • Underlined/Overstruck Version of City Code, Section 11.70, Subdivision 3 (4 pages) • Planning Commission Minutes dated March 26, 2012 (2 pages) • Planning Commission Minutes dated January 23, 2012 (3 pages) • Memo to the Planning Commission dated March 21, 2012 (2 pages) • Parking Ordinance Comparison Chart (2 pages) � Ordinance#482, Amending Section 11.7Q, Regarding Minimum Number of Off-Street Parking Spaces (1 page) Recommended Action Motion to adopt Ordinance #482, Amending Section 11.70, Regarding Minimum Number of Off- Street Parking Spaces. § 11.70 Subdivision 3. Minimum Number of Required Off-Street Parking Spaces USE REQUIREMENT RESIDENTIAL Single Family 2 spaces per dwelling. No building permit shall be issued for the construction of a single family dwelling not having a two- stall garage unless the registered survey submitted at the time of application for the building permit reflects the necessary area and setback requirements for a future two stall minimum ara e. Cluster Housing 2 spaces per dwelling with at least one enclosed Two Family 2 spaces per dwelling with at least one enclosed Townhouse 2 spaces per dwelling with at least one enclosed Multiple Family � 1_5 spaces per dwelling. ��°�� '�,�� ,.��,.�., Roomin House 1 s ace er each 2 ersons Congregate and/or Elderly Housing 0.5 to 1 space per unit depending on Senior Housin circumstances Assisted Housin 1 s ace er 5 units/beds Nursin Home 1 space per 5 beds PUBLIC & INSTITUTIONAL Adult Da Care 1 s ace er 5 ersons cared for Grou Nurser Da Care 1 s ace er 6 artici ants Grou Home 1 s ace er 5 beds/ artici ants Community Center . 1 space per 300 s.f. of ross floor area Cit Hall 1 s ace er 250 s.f. of ross floor area Librar 1 s ace er 300 s.f. of ross floor area Museum Art Galler 1 s ace er 400 s.f. of ross floor area Park Playground An adequate plan Golf Course 1 space per 5 patrons based on course ca acit Golf Drivin Ran e & Archer 1 s ace for each tee/tar et Miniature Golf 1 s ace er hole Golden Valley City Code Page 1 of 4 § ii.�o Fire Station 1 space per 500 s.f. of gross floor area or an ade uate lan Ball Fields/Other Rec. 1 space per 4 seats based on design capacity or 1 per 4 members using the facilit . Religious Institutions 1 space per 3 seats in the main assembly area Cemeteries Adequate off-street parking shall be rovided. Elementar School - Junior Hi h 2 s aces er classroom High School 2 spaces per classroom plus 1 space per 6 students Colle e - Universit 1 s ace er 4 students based on ca acit Hospital 1 space for every 350 s.f. of gross floor a rea COMMERCIAL Animal Hospital - Kennels 1 space per each 300 s.f. of gross floor area Bank - Financial Service 1 space per �89 300 s.f. of gross floor a rea Bed and Breakfast 2 spaces plus 1 for each room to be rented Trade and Training School 1 space per 3 5 students based on desi n ca abilit Baker 1 s ace er 25 s.f. of customer area Clubs/Lodges 1 space per � 3_5 seats�ase��t Convention/Exhibition Hall 1 s ace er 3 seats Hotel or Motel 1.5 spaces per unit plus parking for other uses. Places of Lod in See Hotel Service Station Motor Fuel Station 8 s aces lus 4 er service stall Motor Vehicle Service Re air 4 s aces for each service ba Offices 1 s ace er 250 s.f. of ross floor area Mortuaries 1 per every 250 s.f. plus 1 space for ever 5 seats Car Wash 8 s aces lus 4 s aces er service stall Medical Clinic Offices 1 s ace er 200 s.f. of ross floor area O en Sales or Rental Lots 1 s ace er 2000 s.f. of dis la area Printing 1 space per each 100 s.f. of customer service area Bowling Alley 1 space per each 6 seats or 300 s.f, of ross floor area, whichever is reater Golden Valley City Code Page 2 of 4 § 11.70 Pool Hall/Arcade 1 s ace er 50 s.f. Skating Rinks 1 space per each 6 seats or 300 s.f. of gross floor area of rink area, whichever is reater Sport & Health Clubs 1 space for every 200 s.f. of gross floor area of non-court area plus 2 spaces for each court plus 1 per 50 s.f. deck area for swimmin Theater and/or Gymnasiums (Auditorium) 1 space per 4 seats or 1 space per 400 s.f. whichever is reater Restaurant Class I Traditional-No Li uor 1 s ace er 100 s.f. of ross floor area Restaurant - Class II Fast Food 1 s ace er 40 s.f. of ross floor area Restaurant -Class III (Restaurant W/Liquor) 1 space per 60 s.f. of floor area plus 1 s ace er 25 s.f. of bar area Retail Store or Service Establishment 1 s ace er 250 s.f. of ross floor area Shopping Center 1 space for every 200 s.f. of gross floor area. 5 s aces er 1000 s.f. Studio 1 s ace er 400 s.f. of ross floor area Stora e See Warehouse Tem orar Retail Sales An ade uate lan INDUSTRIAL Manufacturin - Fabricatin 1 s ace er 500 s.f. of ross floor area Outdoor Stora e 1 s ace er 20,000 s.f. of stora e area Post Office/Parcel Distribution 10 spaces plus 1 space per 500 s.f. plus 1 for each vehicle on site. Self-Storage Facility 1 space for every 10,000 s.f. of storage a rea Sales Showroom (Motor Vehicles, machinery, 1 space for every 1000 s.f. of gross floor boats, etc.) area of display area plus 1 space for ever 5,000 ross s.f. of outside dis la Showrooms Other (e.g. furniture, appliances) 1 space for every 400 s.f. gross floor area of show room, plus 1 space for every 5,000 gross square feet of outside dis la area Warehouses and Storage 1 space for every 3,000 s.f. of gross floor a rea Truck/Van Terminals 1 s ace er 3,000 s.f. of ross floor area Lumber Yards or Bldg. Material Yards Outside areas 1 space per 2,000 s.f. of material dis la MISCELLANEOUS Seasonal Farm Produce Sales An ade uate lan Christmas Tree Sales An ade uate lan Golden Valley City Code Page 3 of 4 § 11.70 Radio TV Trans. An ade uate lan OTHER General Requirement. For any and all uses or structures not specifically provided for, such parking space as the City shall determine to be necessary shall be required, considering all the arkin eneratin factors involved. Mixed Uses. In the case of mixed uses, the parking facilities required shall be the sum of the requirements for the various individual uses, computed separately in accordance with this Section. Parking facilities for one use shall not be considered as providing the required arkin facilities for an other use. Golden Valley City Code Page 4 of 4 Minutes of the Golden Valley Planning Commission March 26, 2012 Page 2 cCarty asked who uses this docum t and why the HRA needs to have redevelo nt p s. Andre explained that it is a stat tory requirement to have a redevelop plan w e there is a redevelopment area. redevelopment plan is also re ' in order to create increment finance (TIF) dis icts. She added that it also , d by the Planning Commiss the HRA and City Coun I to all come together a gree on the intent for the redevelop nt area so the develo ment community u rstands the City's intent. Waldhauser stated tha redevelopm nt plan is `ccessor document to, or another piece of, the Comprehensi lan. An re sta `that a redevelopment plan is more of a visionary guide needed to do r velo m f, whereas the Comprehensive'Plan and Zoning Code are land use controls equire a higher level of specificity. Hogeboom stated that the Gol Hill Re elopment Plan already exists it just`needs to be updated with this am ` ed plan, e reite ed that the Zoning Code states what type of use can be deve ed in this a a. Kluchka ted that a redevefopment plan is really a marketing too ogeboom sai yes and state t these fiypes of plans are used to illustrate what t City wants to see n a redevelopment�� a. Andre sugge d that the Planning Ca mission forward any com' ts to Hogeboom. MOVE , y Cera, seconded by Schmi a11 and motion carried unanimousl approve Reso ion No. 12-01 finding that the development Rlan for the I-394 Corrido Re velopment Project Area (formerl known as the Golden Hills Redevelopment P oject) conforms to the City's Compr hensive Plan, 2. Continued Informal Public Hearing —Zoning Code Text Amendment— Amending Section 11.70 "Off-Street Parking and Loading Regulations" —Z�00-89 Applicant: City of Golden Valley Purpose: To consider amending the amount of parking required for certain uses. Vidden reminded'the Com;mission that this item was tabled at their January meeting in order to compare Golden Valley's parking ordinance with other cities, to observe various parking lots within Golden Valley and to discuss parking conditions at various parks throughout the City with the Director of Parks and Recreation. She explained that as a result of further study Staff is recommending that parking requirements at parks remain the same because the existing parking areas are adequate for everyday use. She discussed the parking conditions at retail locations, gas stations, fast food restaurants and banks and stated that staff is recommending a reduction of parking to 1 space per 300 square feet of gross floor area for banks, but the parking requirements for other locations appeared to be adequate. Minutes of the Gotden Valley Planning Commission March 26, 2012 Page 3 She stated that staff is also recommending that the parking requirements for community centers be changed to 1 space per 300 square feet of gross floor area, multiple family properties be reduced to 1.5 spaces per dwelling unit without requiring enclosed parking spaces, clubs/lodges be reduced to 1 space per 3.5 seats and trade and training schools be reduced to 1 space per 5 students. Waldhauser referred to the parking comparison chart and noted that compared to other cities Golden Valley is being aggressive about getting rid of unnecessary parking. Cera referred to gas station parking and asked Vidden if she researched the requirements regarding service stalls. Vidden explained that parking spots at the pumps are not considered service stalls so the recommendation is to keep the requirement at gas stations requiring 8 spaces plus 4 per service stalL Kisch said he likes that the parking ordinance establishes a minimum number of parking spaces rather than a maximum. MOVED by Kisch, seconded by Kluchka and motion carried unanimously to recommend approval of the amended off-street parking requirements as presented. --Short Recess�- . Reports on Mee ngs of the Housing,and'Redevelopment Authority, City Council, Board f Zoning Appeals and'other Meetings No rep s were giv . 4. Other Bu ' ess No other business �� iscussed. 5. Adjournm t The m ing adjour ed af 7:50 David A. Cera, Secretary Minutes of the Golden Valley Planning Commission January 23, 2012 Page 5 Cera said he doesn't believe that the c nstruction traffic will be anywhere ar the current m ning and afternoon traffic. He said e is in favor of the proposal a e likes the green roo d that the footprint of the buildin is not expanding. MOVED by era, seconded by McCart and motion carrie nanimously to recommend approval of the opased Preliminary PI n for PUD 88, endment #1, Breck School subject to the follo � conditions: 1. The plans submitted wit e applicat n sh become a part of this approval. These plans were prepared by Hola ' d & R ot d include the following: G1-3 site plan, G1- 9 green roof & ground coverage � r s, G1-10 overall 100, 150 & 20Q level floor plans, A2-1 foundation flaor pCan, - 100 & 150 level floor plan, A2-3 200 levef floor plan, A2-4 300 level floor plan, -5 4 0 el floor plan, A2-6 500 level roaf plan, pen roo p 2- no c assroom renQVation floor plan, A4-1 and A4-2 ilding elev tions, A4- uilding sections, new upper school elevations and d' gram compa ing height of e ' ing chapel bell tower and propased new buildin . 2. The recommendat' s and requireme ts outfined in the mem om Deputy Fire Marshal Ed And son to Mark Grimes Director of Planning and D lopment dated January 1 p, 12, shall become part this approval. 3. The recom endations and requireme ts outlined in th� memo from Public rks Speciali Eric Eckman to Mark Grime , Director of Planning and Development, ted Janu 13, 2012, shall become a pa of this approvaL 4. All gns on the property must meet th requirements of the City's Sign Code. 5. is approval is subject to all ather st e, federal, and local ordinances, regulations, or aws with authority over this developm nt. 4. Informal Public Hearing —Zoning Code Text Amendment-Amending Section 11.7U "Off-Street Parking and Loading Regulations" — ZO00-89 Applicant: City of Golden Valley Purpose: To consider amending the amount of parking required for certain uses. Vidden stated that she studied the Gity's parking requirements in response to a request by the Planning Commission to determine if Golden Valley requires too much parking. She discussed her study which included comparisons with other cities and explained that staff is recommending to amend the parking regulations to require fewer parking spaces in nine of the use categories. Waldhauser asked for examples of which properties would be impacted by the proposed amendments. Vidden stated that her study shawed that Golden Valley is on par with other similar cities. Minutes of the Golden Valley Planning Commission January 23, 2012 Page 6 Waldhauser referred to the parking requirements at ball fields. She stated that ball fields are heavily used and there may be camplaints about there not being enough parking spaces. Kisch agreed and said currently the City tends to approach parking as requiring a minimum amount rather than a maximum amaunt. He referred to Walgreen's recent variance request for fewer parking spaces than required because they didn't feel they needed as many as the City Code required them to have. He said he likes parking language that puts more emphasis on a use and puts a cap on the number of spaces allowed rather than a minimum. Segelbaum asked if comments or complaints regarding parking could be examined. Hogeboom stated that comments or complaints are dealt with on a case-by-case basis and that there isn't a data base kept on file. Cera referred to the requirements for ball fields which states that 1 space is required per 6 seats. He questioned how "seats" are considered when there are no benches ar bleachers. He also questioned the requirements regarding gas stations and if a service stall or a space at the gas pump is counted in the parking totals. He questioned if the numbers proposed for gas stations were inadvertently raised instead of lowered. He suggested ball fields and gas statians be looked at again. Hogeboam said he would talk to the Park and Recreation Qepartment about the parking at ball fields in order to get a better idea of how many spaces to require. McCarty referred to the "adequate plan" language and asked haw that is defiined because it seems ambiguous. Schmidgall said he thinks this draft was a nice effort and is moving in the right direction. He added that the City almost always reduces the amount of parking required for developments when asked to do so. He said he would be inclined to recommend approval of these proposed changes and take another look at it in the future if needed. Waldhauser opened the public hearing. Stacy Hoschka, 6400 Golden Valley Road, referred to Meadawbraok School and stated that it is unique because it is also a community center. She questioned the number of parking spaces required far those two uses. She added that parking is a really big problem at Meadowbrook and there aren't nearly enough parking spaces. Hogeboom explained that the regular parking requirements in the Zoning Code don't apply at Meadowbrook because it is a PUD. Therefore, the PUD Permit would dictate the parking requirements. Seeing and hearing no one else wishing to comment, Waldhauser closed the pu�lic hearing. Waldhauser said she would like to have staff provide some examples of properties where adjustments could be made and examples of properties where there aren't enough Minutes of the Golden Valley Planning Commission January 23, 2012 Page 7 parking spaces or where there are too many parking spaces. Hogeboam said that staff will assign specific businesses to Planning Commissioners to review over the next several weeks. Commissioners will be asked to look at whether or not there is adequate parking onsite, whether or not snow is stored in the parking lot and if parking lot usage increases or decreases at different times of the week. Staff will revisit parking regulations with the Planning Commission at a later meeting to see whether or not the Commission recommends making additional changes MQVED by Segelbaum, seconded by Kisch and mation carried unanimously to table the discussion regarding amending the Zoning Code Section 11.70 "Off-Street Parking and Loading Regulations" 5. orts on Meetings of the ousing and Redevelopm uthority, City Cou il, Board of Zoning A eals and other Meeti s Waldhauser repo on the Bottineau Transitway o house she attended an January 23 and reminded the mission that ere will a joint meeting with the City Council, Environmental Commission d Open pac nd RecreatiQn Commission on January 30. 6. Other Business Waldhauser stated that she nded Pla ning issioner training and she would like to share the MnAPA Citiz Planner Han book with th st of the Commission at a future Planning Cam ' ion meeting. Th Commission agre at meeting on a scheduled meetin ight would work best. 7. Adjo ment The m ting was adjourned at 8:25 pm. David A. Cera, Secretary � �'r n� �� - [ � � � � � �._`� €?� ��=��,?� Exf�;��.��a� Planning 763-593-8095/763-593-8109 (fax) � � � Date: March 21, 2012 To: Golden Valley Planning Commission From: Bryanna Vidden, Planning Intern Subject: Continued Informal Public Hearing Amending City Code, Section 11.70: "Off-Street Parking and Loading" Background The Golden Valley Planning Commission requested for planning staff to examine the City's parking ordinances, in order to assess whether or not Golden Valley's City Code regarding off- street parking requirements is adequate for the parking conditions within the City. The concern is that Golden Valley is currently requiring too many parking spaces. At a previous Planning Commission meeting on January 23, 2012, staff presented a number of recommended changes to Golden Valley City Code, Section 11.70 "Off-Street Parking and Loading Regulations" that would place the City on par with other suburban communities in the Twin Cities metropolitan area. Commissioners suggested that changes to Section 11.70 should be revisited after examining the current parking conditions within the City. Since parking space requirements are based upon the type of land use in question, Commissioners noted a number of land uses which should have their parking requirements examined further. These uses included ball fields/other recreation, fast-food restaurants, retail stores, banking institutions, and service stations (motor fuel station). Process Through examining the parking conditions at locations throughout the City, Commissioners and staff took consideration of the total number of parking spaces, the number of spaces that where filled, or empty, if any spaces where being occupied by snow storage, and additional notes on how traffic flowed through the lot. To be used as examples, the parking conditions at the following locations were examined: Walgreens on Winnetka Avenue, SuperAmerica on Market Street, Perkins on Golden Valley Road, Truestone Financial on Country Club Drive, Wells Fargo Bank on Golden Valley Road, and Burger King on Wayzata Boulevard. After Planning Staff and Commissioners examined parking conditions at several locations throughout the City, some conclusions can be made. To further examine parking conditions at recreational facilities and parks throughout Golden Valley, Planning Staff met with Rick Jacobson, Director of Parks and Recreation. Most all of Golden Valley's parks and outdoor recreation faci(ities such as baH fields and parks have off- street parking lots, with only a few of the smallest neighborhood parks that have only on-street parking. After discussing the facilities individually, it has been determined that the number of available off-street parking spaces at ball fields and other outdoor recreational facilities throughout the City is adequate. While complaints have come up about park patrons parking on City streets during events such as little league baseball, or soccer tournaments, these are events which occur at minimal occasions each year. Thus, City Code should not be required to provide for these large events, but rather for the Code shall provide for everyday use of these facilities. Conclusion Based upon the fieldwork completed by the Commissioners and Staff, only one recommendation for a change has been made, which is in relation to the "Bank-Financial Service" land use type. Through a comparison study with other metro area suburbs, as well as an observational study of the parking conditions within Golden Vailey, recommended changes have been made to the City Code, Section 11.70 "Off-Street Parking and Loading Regulations" which is attached to this memorandum. Recommendations Staff has developed recommendations to reduce the minimum number of required spaces for five building use types. These changes are incorporated in the attached copy of Section 11.70: "Off-street Parking and Loading Regulations" of the Golden Valley City Code. The changes to the uses of"Multiple Family Residential", "Community Center", "Trade and Training School", and "Clubs/Lodges" have been adjusted according to the initial comparison research, while the change to the "Bank-Financial Service" description has been adjusted according to the observations made by members of the Planning Commission and City Planning Staff. Attachments Amended Golden Valley City Code, Section 11.70, Subdivision 3. 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City Code Section 11.70 Subdivision 3 (Multiple Family) is amended to read as follows: 1.5 spaces per dwelling Section 2. City Code Section 11.70 Subdivision 3 (Community Center) is amended to read as follows: 1 spaces per 300 s.f. of gross floor area Section 3. City Code Section 11.70 Subdivision 3 (Bank - Financial Service) is amended to read as follows: 1 space per 300 s.f. of gross floor area Section 4. City Gode Section 11.70 Subdivision 3 (Trade and Training Schaal) is amended to read as follows: 1 space per 5 students based on design capability Section 5. City Code Section 11.70 Subdivision 3 (Clubs/Lodges) is amended to read as follows 1 space per 3.5 seats Section 6. City Code Chapter 1 entitled "General Provisions and Definitions Applicable to the Entire City Code Including Penalty for Violation" and Sectivn 11.99 entitled "Violation a Misdemeanar" are hereby adopted in their entirety, by reference, as though repeated verbatim herein. Section 7. This Ordinance shall take effect from and after its passage and publication as required by law. Adopted by the City Council this 17th day of April 2012. /s/Shepard M. Harris Shepard M. Harris, Mayor ATTEST: /s/Susan M. Virniq Susan M. Virnig, City Clerk ci� v �� .� Fina ce Department 763-593 8013/763-593-8109(fax) . =� vz :�.c:: ` ..��,��.: �.*��„'.�i�'$=-��"'�"��':��;a�i �� °. ¢3.*��! .. ... �a��.z��»:. . . .f# Executive Su mary For Action Golden Valley C ty Council Meeting April 17, 2012 Agenda Item 6. A. Authorizing Issuance, Awarding Sale, Pres�ribing the Form and Details and Providing far the Payment af: $1,605,000 General Obligation Im rovement Bonds, Series 2012A, $725,000 General Obligation Equipment Certificates of lndebtedr�ess, Series 2012B, and $6,11Q,OOQ General Obligation Improvement Refunding Bonds, Ser es 2012 C with Escraw Agreement with US Bank Prepared By Sue Virnig, Finance Director Summary i At the meeting of April 3, 2012 the City Counci adopted resolutions authorizing the issuance and sale of these bond issues. The sale date was se for Tuesday, April 17, 2012. A representative of Springsted, Inc. will be in attendance at the m�eting 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 resolutions. � �� Attachments '� Resolution Authorizing Issuance, Awarding Sal�, Prescribing the Form and Details and Providing for the Payment of$1,6�5,000 General Obligatlion Improvement Bonds, Series 2012A (22 pages) ,', Resolution Authorizin Issuance Awardin Sal � Prescribin the Form and Details and Providin g , g �, � � for the Payment of$725,000 General Obligatioln Equipment Certificates, Series 2012B (17 pages) Resolution Authorizing Issuance, Awarding Sal�, Prescribing the Form and Details and Providing for the Payment of$6,110,000 General Obligation Improvement Refunding Bonds, Series 2012C with Escrow Agreement (28 pages) Recommended Action Motion to adopt Resolution Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and Providing for the Payment of$1,605,000 General Obligation Improvement Bonds, Series 2012A. Motion to adopt Resolution Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and Providing for the Payment of$725,000 General Obligatian Equipment Certificates, Series 2012B. Motion to adopt Resolution Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and Providing for the Payment of$6,110,000 General Obligation Impravement Refunding Bonds, Series 2011C and Escrow Agreement. Resolution 12-31 April 17, 2012 Member introduced the following resolution and moved its adoption: RESOLUTION AUTHORIZING ISSUANCE, AWARDING SALE, PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT QF $1,605,000 GENERAL QBLIGATION IMPROVEMENT BONDS, SERIES 2012A BE IT RESOLVED by the City Council, City of Golden Valley, Minnesata (the City), as fallows: SECTION 1. AUTHORIZATION AND SALE. 1.01. Authorization. This Council,by resolution duly adopted on Apri13, 2012, authorized the issuance and sale on the date hereof of its General Obligation Improvement Bonds, Series 2012A (the Bonds), pursuant to Minnesota Statutes, Chapters 429 and 475. Proceeds of the Bonds will be used to finance various irnprovement projects in the City (the Project). � 1.02. Sale. Pursuant to the Terms of Proposal and the Official Statement prepared on behalf of the City by Springsted Incorporated, sealed proposals for the purchase of the Bonds were received at or before the time specified for receipt of proposals. The proposals have been opened, publicly read and considered and the purchase price, interest rates and net interest cost under the terms of each proposal have been determined. The mast favorable proposal received is that of , in , (the Purchaser), to purchase the Bonds at a price of$ plus accrued interest on all Bonds to the day of delivery and payment, on the further terms and conditions hereinafter set forth. 1.03. Award. The sale of the Bonds is hereby awarded to the Purchaser, and the Mayor and City Manager are hereby authorized and directed to ex�cute a contract Qn behalf of the City for the sale of the Bonds in accardance with the Terms of Proposal. The good faith deposit of the Purchaser shall be retained and deposited by the City until the Bonds have been delivered and shall be deducted from the purchase price paid at settlement. SECTION 2. BOND TERMS• REGISTRATION• EXECUTION AND DELIVERY. 2.01. Issuance of Bonds. All acts, conditions and things which are required by the Constitution and laws of the State of Minnesota to be done, ta exist, to happen and to be perfarmed 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 farthwith. 2.02. Maturities; Interest Rates; Denominations and Pavment. The Bonds shall be originally dated as of May 15, 2012, 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 b�low, 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 2014 $ 85,Q00 % 2024 $ 50,000 % 2015 75,a00 2025 50,000 2016 50,000 2026 50,000 2017 200,000 2027 50,000 2018 65,000 2028 50,000 2019 150,000 2029 50,000 2020 200,000 2030 SO,OQO 2021 200,000 2031 50,000 2022 65,000 2032 50,00� 2023 65,000 [REVISE MATURITY SCHEDULE FOR ANY TERM BONDS] The Bands shall be issuable only in fully registered form. The interest thereon 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 2.08 hereof, principal and interest shall be payable in accordance with the operational arrangements of the securities depository. 2.03. Dates and Interest Payment Dates. Upon initial delivery of the Bonds pursuant to Section 2.07 and upon any subsequent transfer or exchange pursuant to Section 2.06, 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 in each year, commencing February 1, 2013, 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 month immediately preceding the 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. 2.04. Redem�tion. Bonds maturing in 2023 and later years shall be subject to redemption and prepayment at the option of the City, in whole or in part, in such order of maturity dates as the City may select and, within a maturity, by lot as selected by the Registrar (or, if applicable, by the bond depasitory in accordance with its customary procedures) in multiples of$5,000, on February 1, 2022, and on any date thereafter, at a price equal to the principal amount thereof and accrued interest to the date of redemption. The City Manager 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 redemptian 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 2.06 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 ar portions of Bands 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 City 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 Band, a new Bond or Bonds will be delivered to the owner without charge, representing the remaining principal amount outstanding. [COMPLETE THE FOLLOWING PROVISIONS IF THERE ARE TERM BONDS- ADD ADDITIONAL PRQVTSIONS IF THERE ARE MORE THAN TWQ 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 2.04 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 amaunts of such Bonds: Term Bonds Maturing Februar,y 1, 20— Year Principal Amount The remaining $ stated principal amount of sueh Bonds shall be paid at maturity on February 1, 20T. Term Bonds Maturin F� ebruary 1, 20— Year Principal Amount The remaining $ stated principal amaunt of such Bonds shall be paid at maturity on February 1, 20_. Notice of redemption shall be given as provided in the preceding paragraph.] 2.05. Appointment of Initial Re�istrar. The City 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 City, 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 ta act as successor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City 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. 2.06. Re�tration. The effect of registration and the rights and duties of the City and the Registrar with respect thereto shall be as follows: (a) Register. The Registrar shall keep at its principal corporate trust office a register (the Bond Register) in which the Registrar shall provide for the registratian 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) Exchan�e of Bonds. At the option of the Holder of any Bond in a denomination greater than $5,000, such Bond may be exchanged for other Bonds of authorized denominations, of the same maturity and a like aggregate principal amaunt, upon surrender of the Bond to be exchanged at the office of the Registrar. Whenever any Bond is so surrendered for exchange the City shall execute and the Registrar shall authenticate and deliver the Bonds which the Bondholder making the exchange is entitled to receive. (d) Caneellation. All Bands surrendered for payment, transfer or exchange shall be promptly canceled by the Registrar and thereafter disposed of as directed l�y the City. (e) Improper or Unauthorized Transfer. When any Bond is presented to the Registrar for transfer, the Registrar may refuse ta 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 City 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 or upon the order of such Holder shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. (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 became 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 City 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 City. 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 A ent. The Registrar is hereby designated authenticating agent for the Bonds, within the meaning of Minnesota Statutes, Section 475.SS, Subdivision 1, as amended. (j) Valid Obligations. All Bonds issued upon any transfer or exchange of Bonds shall be the valid obligations of the City, evidencing the same debt, and entitled to the same benefits under this Resolution as the Bonds surrendered upon such transfer or exchange. 2.07. Execution, Authentication and Deliverv. The Bonds shall be prepared under the direction of the City Manager and shall be executed on behalf of the City 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 any Bond shall cease to be such officer before the delivery of such Bond, such signature or facsirnile shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until the date of delivery af such Bond. 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, substantially in the form provided in Section 2.09, has been executed by the manual signature of an authorized representative of the Registrar. Certificates of authentieation on different Bonds need not be signed by the same representative. The executed certificate of authentication on any Bond shall be conclusive evidence that it has been duly 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. 2.08. Securities Depository. (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 Deposi�ory 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 City 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 City may treat DTC (or its nominee) as the sale and exclusive owner of the Bonds registered in its name for the purposes af payment of the principal of or interest on the Bonds, selecting the Bonds or partions 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 ather purposes whatsoever, and neither the Registrar nor the City shall be affected by any notice to the cantrary, Neither the Registrar nor the City 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 ar interest on the Bonds, with respect to any nQtice 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 ox 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 City'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 obIigation of the City 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. � (c) In the event the City detertnines 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 City 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 City 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 af payment of principal of and interest on such Bonds in the form of bond certificates. 2.09. 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 BOND, SERIES 2012A No. R- $ Interest Rate Maturity Date Date of Ori inal Issue CUSIP No. % February 1, 20_ May 15, 2012 REGISTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: THOUSAND DOLLARS THE CITY OF GOLDEN VALLEY, MINNESOTA (the City) acknowledges itself to be indebted and for value received hereby promises to pay to the registered owner specified above, or registered assigns, the principal amount specified above on the maturity date specified above and pramises 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 in each year, commencing February 1, 2013 (each such date, an Interest Payment Date), all subject to the provisions referred to 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 perso�i 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 immediately preceding the 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 iawful maney of the United States of America by check or draft drawn on U.S. Bank National Assoeiation, St. Paul, Minnesota, as bond registrar, transfer agent and paying agent, or its successor designated under the Resolution described herein (the Registrar). For tk�e 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 City have been and are hereby irrevocably pledged. This Bond is one of an issue (the Bonds) in the aggregate principal amount of$1,605,000 issued pursuant to a resolution adopted by the City Council on April 17, 2012 (the Resolution), to finance various improvement projects in the City and is issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Chapters 429 and 475. The Bonds are issuable only in fully registered form, in�the denomination of$5,000 or any integral multiple thereof, of single maturities. Bonds maturing in 2023 and later years shall be subject to redemption and prepayment at the option of the City, in whole or in part, in such order of maturity dates as the City may select and, within a maturity, by lot as selected by the Registrar (or, if applicable, by the bond depository in accordance with its customary procedures) in multiples of$5,000, on February 1, 2022, and on any date thereafter, at a price equal to the principal amount thereof and accrued interest to the date of redemption. The City shall cause notice of the call for redemption thereof ta 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 registerec�holders of any Bonds, at the holders' addresses as they appear on the bond register maintained by the 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 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 City shall default in the payment of the redemption price) such Bonds or portions of Bands 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. [COMPLETE THE FOLLQWING PROVISIONS IF THERE ARE TERM BONDS- ADD ADDITIONAL PROVISIQNS 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 Maturin�n 20-- Term Bonds Maturin�in 20-- Sinking Fund Aggregate Sinking Fund Aggregate Pavment Date Principal Amount Payment Date Principal Amount $ $ Notice of redemption shall be given as provided in the preceding paragraph.] As provided in the Resolution and subject to certain limitations set forth therein, this Band is transferable upon the books of the City 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 City will cause a new Bond or Bonds to be issued in the name of the designated transferee or registered awner, 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 any 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 arnended. The City 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 as herein provided and for all other purposes, and neither the City nor the Registrar shall be affected by any notice to the contrary. 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 City. IT IS HEREBY CERTIFIED, RECITED, COVENANTEDAND 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 ta be performed prior to and in the issuance of this Bond in order to make it a valid and binding general obligation of the City in accordance with its terms, have been done, do exist, have happened and have been performed as so required;that, prior to the issuance hereof, the City Council has by the Resolution covenanted and agreed to levy ad valarem taxes upon all taxable property in the City and special assessments upon property specially benefited by the local improvements financed by the Bonds, which taxes and special assessments will be collectible for the years and in amounts sufficient to produce sums not less than five percent in excess of the principal of and interest on the Bonds when due, and has appropriated such special assessments and taxes to its General Obligation Improvement Bonds, Series 2012A Bond Fund for the payment af principal and interest; that if necessary for payment of principal and interest, additianal ad valorem taxes are required to be levied upan all taxable praperty in the City, without limitation as to rate or amount and that the issuance of this Bond, together with all other indebtedness of the City outstanding on the date hereof and on the date of its actual issuance and delivery, does not cause the indebtedness of the City 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 Resoiution until the Certificate of Authentication hereon shall have been executed by the Registrar by manual signature of one af its authorized representatives. IN WITNESS WHEREOF, the City has caused this Bond to be executed on its behalf by the facsimile signatures of its Mayor and City Manager. CITY OF GOLDEN VALLEY, MINNESOTA (facsimile si�nature—Ma� �facsimile signature—City Mana�er) CERTIFICATE OF AUTHENTICATION This is one of the Bonds delivered pursuant to the Resolution mentioned within. Date of Authentication: � U.S. BANK NATIONAL ASSOCIATION, as Registrar By Authorized Representative The following abbreviations, when used in the inscriptian 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 GOM - 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 af the within Bond, with full power of substitution in the premises. Dated: 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 reguirements 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 bond form] SECTION 3. GENERAL OBLIGATION IMPROVEMENT BONDS SERIES 2012A CONSTRUCTION FIJND. There is hereby established on the official books and records of the City a separate fund designated the General Obligation Improvement Bonds, Series 2012A Canstruction Fund (the Canstruction Fund). To the Construction Fund there shall be credited from the proceeds of the Bonds an amount equal to the estimated cost of the Project. There shall also be credited to the Construction Fund all special assessments collected with respect to the Project until all costs of the Project have been fully paid. All proceeds of the Bonds deposited in the Canstruction Fund will be expended solely for the payment of the costs of the Project. To the extent required by Minnesota Statutes, Section 429.091, subdivision 4, the City shall maintain a separate account within the Construction Fund to record expenditures for each improvement. The City Manager shall maintain the Construction Fund until all costs and expenses incurred by the City in connection with the construction of the improvements have been paid. All special assessments on hand in the Constructian Fund when terminated or thereafter received, and any Bond proceeds not so transferred, shall be credited to the General Obligation Improvement Bonds, Series 2012A Bond Fund. SECTION 4. GENERAL OBLIGATION IMPROVEMENT BONDS SERIES 2012A BOND FUND. There is hereby established on the official books and records of the City a separate fund designated the General Obligation Improvement Bonds, Series 2012A Bond Fund (the Bond Fund). Into the Bond Fund shall be paid (a) the amounts specified in Section 3 above, (b) any amounts received from the Purchaser upon delivery of the Bonds in excess of the amounts appropriated to the Construction Fund pursuant to Section 3 hereof, (c) any special assessments and taxes collected pursuant to Sections 5 or 6 hereof, except as otherwise provided in Section 3 hereof and (d) any other funds appropriated by the City Council for the payment of the Bonds. The money on hand in the Bond Fund from time to time shall be used only to pay the principal of and interest on the Bonds. If the balance on hand in the Bond Fund is at any time insufficient to pay principal and interest then due on the Bonds, such amounts shall be paid from other money on hand in other funds af the City, which other funds shall be reimbursed therefor when sufficient money becomes available in the Bond Fund. The Bond Fund shall be maintained until the City has paid, or made provision for the payment of, all of the principal of and interest on the Bonds. There are hereby established two accounts in the Bond Fund, designated as the "Debt Service Account" and the "Surplus Account." There shall initially be deposited into the Debt Service Account upon the issuance of the Bonds the amount set forth in (b) above. Thereafter, during each Bond Year (i.e., each twelve month period commencing on February 2 and ending on the following February 1), as monies are received into the Bond Fund, the City Manager shall first deposit such monies into the Debt Service Account until an amount has been appropriated thereto sufficient to pay all principal and interest due on the Bonds through the end of the Bond Year. All subsequent monies received in the Bond Fund during the Bond Year shall be appropriated to the Surplus Account. If at any time the amount on hand in the Debt Service Account is insufficient for the payment of principal and interest then due, the City Manager shall transfer to the Debt Service Account amounts on hand in the Surplus Account to the extent necessary to cure such deficiency, Investment earnings (and losses) on amounts from time to time held in the Debt Service Account and Surplus Account shall be credited or charged to said accounts. If the aggregate balance in the Bond Fund is at any time insufficient to pay all inter�st and principal then due on all Bonds payable therefrom, the payment shall be made from any fund of the City which is available for that purpose, subject to reimbursement from the Surplus Account in the Bond Fund when the balance therein is sufficient, and the City Council cavenants and agrees that it will each year levy a sufficient amount of ad valorem taxes to take care of any accumulated or anticipated deficiency, which levy is not subject to any constitutional or statutory limitation. In order to ensure compliance with the Code and applicable Regulations (all as defined in Section 8.01 hereofj, the Finance Director, upon allocation of any funds to the Bond Fund, shall ascertain the balance then on hand in the Bond Fund. If it exeeeds the amount of principal and interest on the Bonds to become due and payable through the next following February l, plus a reasonable carryover equal to 1/12`� of the debt service due in the following bond year, the excess shall (unless an opinion is received from band counsel stating that another use shall not interfere with the tax exemption af the bonds) be used to prepay or purchase Bonds, or be invested at a yield which does not exceed the yield on the Bonds calculated in accordance with Section 148 of the Code. SECTION 5. SPECIAL ASSESSMENTS. The City hereby covenants and agrees that, for the payment of the costs of the Project, the City has done ar will do and perform all acts and things necessary for the final and valad levy of special assessments in an amount not less than 20% of the cost of the Project financed by the Bonds. The City estimates it has levied or will levy special assessments in the original aggregate principal amount of$550,902.00. It is estimated that the principal and interest on such special assessments will be levied beginning in 2012 and collected in the years 2013-2022 in the amounts shown on Appendix I attached hereto. The principal of the special assessments shall be made payable in annual installments, with interest as established by this City Council in accordance with law on installments thereof from time to time remaining unpaid. In the event any special assessment shall at any time be held invalid with respect to any lot or tract of land, due to any error, defect or irregularity in any action ar proceeding taken or to be taken by the City or by this City Council or by any of the officers or employees of the City, either in the making of such special assessment or in the performance of any condition precedent thereto, the City hereby covenants and agrees that it will forthwith do all such further things and take all such further proceedings as shall be required by law to make such special assessment a valid and binding lien upon said property. SECTION 6. PLEDGE OF TAXING POWERS. For the prompt and full payment af the principal of and interest on the Bonds as such payments respectively come due, the full faith, credit and unlimited taxing powers of the City shall be and are hereby irrevocably pledged. In order to produce aggregate amounts which, together with the collections of special assessments as set forth in Section 5, will produce amounts not less than 5% in excess of the amounts needed to meet when due the principal and interest payments on the Bonds, ad valorem taxes are hereby levied on all taxable property in the City. The taxes will be levied and collected in years and amounts shown on the attached levy computatian. Said taxes shall be irrepealable as long as any of the Bonds are outstanding and unpaid,provided that the City reserves the right and power to reduce said levies in accordance with the provisions of Minnesota Statutes, Section 475.61. SECTION 7. DEFEASANCE. Wheri all of the Bonds have been discharged as provided in this Section, all pledges, eovenants and ather rights granted by this Resolution to the Holders of the Bonds shall cease. The City 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 City may also discharge its obligations with respect to any prepayable Bonds called for redemption on any date when they are prepayable according ta 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, pravided that notice of such redemption has been duly given as provided herein. The City 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 provid�d for, to an earlier designated redemption date, provided, however, that if such deposit is made more than ninety days before the maturity date or speeified redemptian date of the Bonds to be discharged, the City 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. SECTION 8. TAX COVENANTS• ARBITRAGE MATTERS AND CONTINUING DISCLOSURE. 8.01. General Tax Covenant. The City 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 that would cause interest on the Bonds to become includable in gross income of the recipient under the Internal Revenue Code of 1986, as amended (the Code) and applicable Treasury Regulatians (the Regulatians), and agrees to take any and all actions within its powers to ensure that the interest on the Bonds will not become includable in gross income of the recipient under the Code and the Regulations. All proceeds of the Bonds depasited in the Construction Fund will be expended solely for the payment of the costs of the Project. The Project is and will be owned and maintained by the City and available for use by members of the general public on a substantially equal basis. The City shall not enter into any lease, management contract, use agreement, capacity agreement or other agreement with any non- governmental person relating to the use of the Project, or any portion thereof, or security for the payment af the Bonds which might cause the Bonds to be considered "private activity bonds" or "private loan bonds"pursuant to Section 141 of the Code. 8.02. Arbitrage Certification. The Mayor and City Manager being the officers of the City charged with the responsibility for issuing the Bonds pursuant ta this Resolution, are authorized and directed to execute and deliver to the Purchaser a certificate in accordance with Section 148 of the Code, and applicable 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. 8.03. Arbitrage Rebate. The City acknowledges that the Bonds are subject to the rebate requirements of Section 148(� of the Cade. The City covenants and agrees to retain such records, m�ke such determinations, file such reports and documents and pay such amaunts at such times as are required under said Section 148(� 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"bana fide debt service fund") arise during or after the expenditure of the original proceeds thereof. 8.04. Reimbursement. The City certifies that the proceeds of th� Bonds will not be used by the City to reimburse itself for any expenditure with respect to the Project which the City paid or will have paid more than 60 days prior to the date of adoption of its reimbursement resolution for the Project, January 18, 2011, provided that this certification shall not apply (i) with respect to certain de minimis expenditures, if any, with respect to the Project meeting the requirements of Section 1.150-2(�(1) ofthe Regulations, or(ii) with respect to "preliminary expenditures" for the Project as defined in Section 1.150-2(�(2) of the Regulations, including engineering or architectural expenses and similar preparatory expenses, which in the aggregate do not exceed 20% of the "issue price" of the Bonds. 8.05. gualified TaX-Exempt Obli at�. The Council hereby designat�s 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 finaneial 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 City and all subordinate entities during calendar year 2012 does not exceed $10,000,000. 8.06 Continuin 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 City 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 �ity is the only obligated person in respect of the Bonds within the meaning of the Rule for purposes of identifying the entities in respect af which continuing disclosure must be made. The City has complied in all material respects with any undertaking previously entered into by it under the Rule. If the City 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 eovenant contained in this section, including an action for a writ of mandamus or specific 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 ta 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 City will provide, in the manner set forth in subsection (c) hereof, either directly or indirectly through an agent designated by the City, the following information at the following times: (1) on or before 365 days after the end of each fiscal year af the City, commencing with the fiscal year ending December 31, 2011, the following financial information and operating data in respect of the City (the Disclosure Informatian); (A) the audited�financial statements of the City for such fiscal year,prepared in accordance with generally accepted accounting principles 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 City, 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 City; 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, which information may be unaudited. Notwithstanding the foregoing paragraph, if the audited financial statements are not available by the date specified, the City 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 thereaf, the City shall provide the audited financial statements. Any or all of the Disclosure Information may be incorporated by reference, if it is updated as required hereby, from other documents, including official statements, which have been filed with the SEC or have been submitted to the Municipal Securities Rulemaking Board (MSRB) through its Electronic Municipal Market Access System (EMMA). The City�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 City have materially changed or been discontinued, such Disclosure Information need no longer be provided if the City includes in the Disclosure Information a statement to such effect, provided, however, if such operations have been replaced by other City operations in respect of which data is not included in the Disclosure Information and the City 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�City 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 not in excess of ten business days after the occurrence of the event, notice of the occurrence of any of the following events (each, a Material Fact): (A) Principal and interest payment delinquencies; (B) Non-payment related defaults, if material; � (C) Unscheduled draws an �lebt service reserves reflecting financial diffi�ulties; (D) Unscheduled draws on credit enhaneements reflecting financial difficulties; (E) Substitution of credit or liquidity providers, or their failure�to perfarm; (F) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting the tax status of the Bonds; (G) Modifications to rights of security holders, if material; (H) Bond calls, if material, and tender offers; (1� Defeasances; � (J) Release, substitution, or sale of property securing repayment of the securities, if material; (K) Rating changes; (L) Bankruptcp, insolvency, receivership or a similar event with respect to the City; (M) The consummation of a merger, consolidation, or acquisition involving an obligated p�rson or the sale of all or substantially all of the assets�of the obligated person, other than in the ardinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and (N) Appointment of a successor or additional trustee or the change of name of a trustee, if material. As used herein, for those events that must be reported if material, an event is "material" if it is an event 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, inforrnation disclosed hereunder or information generally available to the public, � Notwithstanding the foregoing sentence, an event is also "material"if it is 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. For the purposes of the event identified in (L) hereinabove, the event is considered ta occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer far an obligated persan in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state ar federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order canfirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets ar business of the obligated person. (3) In a timely manner, notice of the occurrence of any of the following events or conditions: (A) the failure of the City to provide the Disclosure Infarmation 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 City under subsection (d)(2); (C) the termination of the obligations of the City under this section pursuant to subsection (d); (D) any change in the accounting principles pursuant to which the financial statements constituting a partion of the Disclosure Information are prepared; and (E) any change in the fiscal year of the City. (c) Manner of Disclosure. (1) The City agrees to make available to the MSRB through EMMA, in an electronic format as prescribed by the MSRB, the information described in subsection (b). (2) All documents provided to the MSRB pursuant to this subsection (c) shall be accompanied by identifyin�information as prescribed by the MSRB from time to time. (d) Term; Amendments; Inter�retation. (1) The covenants of the City in this section shall remain in effect so long as any Bonds are Outstanding. Notwithstanding the preceding sentence, however, the obligations af the City under this section shall terminate and be without further effect as of any date on which the City delivers to the Registrar an opinion of Bond Counsel to the effect that, because of legislative action or final judicial or administrative actians or proceedings, the failure of the City to comply with the requirements of this section will not cause participating underwriters in the prirnary 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. (2) This section (and the form and requirements of the Disclosure Information) may be amended or supplemented by the City from time to time, without notice to (except as provided in paragraph (c)(3) hereo� 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 City accompanied by an opinion of Bond Counsel, who may rely on certificates of the City 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 City or the type af operations conducted by the City, 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 Bondawners under the Rule. If the Disclosure Information is so amended, the City 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. SECTION 9. CERTIFICATION OF PROCEEDINGS. 9.41. Reg,istration 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 and obtain a certificate that the Bonds and the taxes levied pursuant hereto have besn duly entered upon the Auditor's band register. 9.02. Authentication of Transcript. The officers of the City and the County Auditor are hereby authorized and directed to prepare and furnish to the Purchaser and to Darsey& Whitney LLP, Bond Counsel, certified copies of all proceedings and records relating to the $onds 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 recards 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 City as to the correctness of all statements contained therein. � 9.Q3. Official Statement. The Official Statement relating to the Bonds, dated April _, 2012, prepared and distributed by Springsted Incorporated, the financial consultant for the City, is hereby approved. Springsted Incorporated is hereby authorized on behalf of the City to prepare and deliver 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 required to be included in the Official Statement by Rule 15c2-12 adopted by the SEC under the Securities Exchange Act of 1934. The officers of the City are hereby authorized and directed to execute such certificates as may be appropriate concerning the accuracy, completeness and sufficiency of the Official Statement. Shepard M. Harris, 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 his signature attested by the City Clerk. APPENDIX I City of Golden Valley, Minnesota General Obligation Improvement Bonds, Series 2012A Payments on Special Assessments Year of Collection Principal Interest Total 2013 $ SS,090.20 $ 38,563.14 $ 93,653.34 2014 55,090.20 29,748.70 84,838.90 2015 55,090.20 26,443.30 81,553.50 2016 55,090.20 23,137.88 78,228.08 2017 55,090.20 19,832.48 74,922.68 2018 55,090.20 16,527.06 71,617.26 2019 SS,Q90.20 13,221.64 68,311.84 2020 55,090.20 9,916.24 65,006.44 2021 55,090.20 6,610.82 61,701.02 2022 55,090.20 3,305.42 58,395.62 $550,902.00 $187,306.68 $738,208,68 PRQJECTED TAX LEVIES Date Levv 2013 $ 2014 2015 � 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Total $ Resolution 12-32 April 17, 2012 Member introduced the following and moved its adoption: RESOLUTION AUTHORIZING ISSUANCE, AWARDIl'+1G SALE, PRESCRIBING THE FORM AND DETAILS AND PRQVIDING FOR THE PAYMENT OF $725,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDN�SS, SERIES 2012B BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota (the Issuer), as follows: � � Section 1. Authorization and Sale. 1.01. Authorization. This Council, by resolution duly adopted an April 3, 2012, authorized the issuance and sale of$725,000 General Obligation Equipment Certificates af Indebtedness, Series 2012B (the Obligations� of the Issuer to finance the costs of acquiring items of capital equipment (the Project). Said items of capital equipment have a useful life not less than the term of the Obligations. The principal amount of the Obligations does not exceed 0.25 percent of the market value of taxable property in the Issuer. 1.02, Sale. Pursuant to the Terms of Proposal and the Official Statement prepared on behalf of the Issuer by Springsted Incorporated, sealed proposals for the purchase of the Obligations were received at or before the time specified for receipt of proposals. The proposals have been opened, publicly read and considered and the purchase price, interest rates and net interest cost under the terms of each proposal have been determined. The mast favorable praposal received is that of , in , (the Purchaser), to purchase the Obligations at a price of$ plus accrued interest on all Obligations to the day of delivery and payment, on the further terms and conditions hereinafter set forth. 1.03. Award. The sale of the Obligations is hereby awarded to the Purchaser, and the Mayor and Gity Manager are hereby authorized and directed to execute a contract on behalf of the Issuer for the sale of the Obligations in accordance with the terms of the proposal. The good faith deposit of the Purchaser shall be retained by the Issuer until the Obligations have been delivered, and shall be�deducted from the purchase price paid at settlement. Section 2. Obli ation Terms; Re�istration; Execution and Deliverv. 2.01. Issuance of Obli at� ions. All acts, conditions and things which are required by the Constitution and laws of the State of Minnesota to be done, to exist, ta happen and to be performed prior to and in the valid issuance of the Obligations 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 Obligations, to provide security therefor and to issue the Obligations forthwith. 2.02. Maturitiesz Interest Rates; Denominations and Pa�. The Obligations shall be originally dated as af May 15, 2012, shall be in denominations of$5,000 ar any integral multiple thereof, of single maturities, shall mature on February 1 in the years and amounts stated below, without option of prior payment, and shall bear interest from date of issue until paid at the annual rates set forth opposite such years and amounts, as follows: Year Amount Interest Rate 2014 $ 240,000 % 2015 240,000 2016 245,000 The Obligations shall be issuable only in fully registered form. The interest thereon and, upon surrender of each Obligation at the principal office of the Registrar described herein, the principal amount thereof, shall be payable by check or draft issued by the Registrar described herein. Upon the initial delivery of the Obligations pursuant to Section 2.07, and upon any subsequent transfer or exchange pursuant to Section 2.06, the date of authentication shall be noted on each Obligation so delivered, exchanged or transferred. 2.03. Dates and Interest Payment Dates. Interest on the Obligations shall be payable on each February 1 and August 1, commencing February 1, 2013, to the owners of record thereof as of the close of business an the fifteenth day of the immediately preceding month, whether or not such day is a business day. 2.04. Redemption. The Obligations shall not be subject to prepayment prior to their stated maturities,� 2.05. Appointment of Initial Re is�ar. The Issuer hereby appoints U.S. Bank National Association, St. Paul, Minnesota as the initial bond registrar,transfer agent and paying agent (the Registrar) for the Obligations. The Mayor and City Manager are autharized to execute and deliver, on behalf of the Issuer, a contract with the Registxar. 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 customary charges of the Registrar for the services performed. The Issuer reserves the right to remove the Registrar upon thirty days' notice and upon the appointment of a successor Registrar, in which event the predecessar Registrar shall deliver all cash and Obligations in its possession to the successor Registrar and shall deliver the bond register to the successor Regi�trar. 2.06. Registration. The effect of registration and the rights and duties of the Issuer and the Registrar with respect thereto shall be as follows: (a) Re ister. The Registrar shall keep at its principal office a bond register in which the Registrar shall provide for the registration of ownership of Obligations and the registration of transfers and exchanges of Obligations entitled to be registered, transferred or exchanged. (b) Transfer of Obligations. Upon surrender for transfer of any Obligation 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 awner in writing, the Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Obligations of a like aggregate principal amount and maturity, as requested by the transferar. 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) Exchange of Obli�ations. Whenever any Obligations are surrendered by the registered owner for exchange the Registrar shall authenticate and deliver one or more new Obligations of a like aggregate principal amount and maturity, as requested by the registered owner ar the owner's attorney in writing. (d) Cancellation. All Obligations surrendered upon any transfer or exchan,ge shall be promptly canceled by the Registrar and thereafter disposed of as directed by the Issuer. (e) Improper or Unauthorized Transfer. When any Obligation is presented to the Registrar for transfer, the Registrar may refuse to transfer the same until it is satisfied that the endorsement on such Obligation 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. (� Persons Deemed Owners. The Issuer and the Registrar may treat the person in whose name any Obligation is at any time registered in the bQnd register as the absolute owner of the Obligation,whether the Obligation shall be averdue or not, for the purpose of receiving payment of or on account of, the principal of and interest on the Obligation and for all other purpases, and all payments made to any registered awner or upon the owner's order shall be valid and effectual to satisfy and discharge the liability upon Obligation to the extent of the sum ar sums so paid. (g) Taxes, Fees and Charges. Far every transfer or exchange of Obligations (except for an exchange upon a partial redemption of an Obligation), the Registrar may impose a chaxge 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 Destroved Obli at� ions. In case any Obligation shall become mutilated or be destroyed, stolen or lost, the Registrar shall deliver a new Obligation of like amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of any such mutilated (Jbligation or in lieu of and in substitution for any Obligation destroyed, stolen or lost, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith, and, in the case of an Obligation destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that the Obligation was destroyed, stolen or lost, and of the ownership thereaf, and upon furnishing to the Registrar of an apprapriate 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 Obligations so surrendered to the Registrar shali be canceled by it and evidence of such cancellation shall be given to the Issuer. If the mutilated, destroyed, stolen or lost Obligation has already matured or been called for redemption in accordance with its terms it shall not be necessary to issue a new Obligation prior to payment. (i) Authenticatin�A,�ent. The Registrar is hereby designated authenticating agent for the Obligatians, within the meaning of Minnesota Statutes, Section 475.55, Subdivision l, as amended. (j) Valid Obligations. Al] Obligations issued upon any transfer or exchange of Obligations shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Resolution as the Obligations surrendered upon such transfer or exchange. 2.07. Execution, Authentication and Deliverv. The Obligations 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 ar a facsimile of whose signature shall appear on the Obligations shall cease to be such officer before the delivery of any Obligation, such signature or facsimile shall nevertheless be valid and sufficient far all purposes, the same as if such officer had remained in office until delivery. Notwithstanding such execution, no Obligation sha11 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 Obligation has been duly executed by the manual signature of an authorized representative of the Registrar. Certificates of authentication on different Obligations need not be signed by the same representative. The executed certificate of authentication on each Qbligation shall be eonclusive evid�nce that it has been authenticated and delivered under this Resolution. When the Obligations 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 ta the application of the purehase price. 2.0$. Securities Depository. (a) For purposes of this section the following terms shall have the following meanings: `Beneficial (Jwner" shall mean, whenever�used with respect to an Obligation, the person in whose name such Obligation is recorded as the beneficial owner of such Obligation by a Participant on the records of such Participant, or such person's subrogee. "Cede & Co." shal� mean Cede & Co., the nominee af DTC, and any successor nominee of DTC with respect to the Obligations. "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 Obligations 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 Obligations shall be initially issued as separately authenticated fully registered obligations, and one Obligation shall be issued in the principal amount of each stated� maturity of the Obligations. Upon initial issuance, the ownership of such Obligations 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 Obligations registered in its name for the purposes af payment of the principal of or interest on the Obligations, selecting the Obligations or portions thereof to be redeemed, if any, giving any notice permitted or required to be given to registered owners of Obligations under this resolution, registering the transfer of�bligations, 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 Obligations under or through DTC or any Participant, or any ather person which is not shown on the bond register as being a registered owner of any Obligations, 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 Obligations, with respect to any notice which is permitted or required to be given to owners of Obligations 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 Obligatians, or with respect to any consent given or other action taken by DTC as registered owner of the Obligations. So long as any Obligation is registered in the name of Cede & Co.; as nominee of DTC, the Registrar shall pay all principal of and interest on such Obligatian, and shall give all notices with respect to such Obligation, 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 Obligations ta the extent of the sum or sums so paid. No person other than DTC shall receive an authenticated Obligation 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 Obligations will be transferable to such new nominee in accordance with paragraph (e) hereof. (c) In the event the Issuer determines that it is in the best interest of the � Benef cial Owners that they be able to obtain Obligations 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 Obligations in the form of certificates. In such event, the Obligations will be transferable in accordance with paragraph (e) hereof. DTC may determine to discantinue providing its services with respect to the Obligations 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 Qbligations 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 Obligations is permitted under paragraph (b) or (c) hereof, such transfer or exchange shall be accomplished upon receipt by the Registrar of the Obligations to be transferred or exchanged and appropriate instruments af transfer to the permitted fransferee in accordance with the provisions of this resolution. In the event Obligations in the form of certificates are issued to owners other than Cede & Co., its successor as nominee for DTC as owner of all the Obligations, or another securities depository as owner of all the Obligations, the provisions of this resolution shall also apply to all matters relating thereto, including, without limitation, the printing of such Obligations in the form of bond certificates and the method of payment of principal of and interest on such Obligatians in the form of bond certificates. � 2.09. Form of Obli ations. The Obligations shall be prepared in substantially the following form: UNITED STATES OF AMERICA STATE OF MINNESOTA COLTNTY OF HENNEPIN CITY QF GOLDEN VALLEY GENERAL OBLIGATION EQUIPMENT CERTIFICATE OF INDEBTEDNESS, SERIES 2012B Interest Rate Maturi . Date Date of Ori�inal Issue CUSIP No. % February 1, 20` May 15, 2012 REGISTERED OWNER; CEDE & CO. PRINCIPAL AMOUNT: THOUSAND DOLLARS THE CITY QF GOLDEN VALLEYa MINNESQTA (the Issuer), acknowledges itself to be indebted and for value received hereby promises to pay the principal sum specified above on the maturity date specified above, without option of prior payment, with interest thereon from�the date hereof at the annual rate specified above, payable on February 1 and August 1 in each year, commencing February 1, 2013, to the person in whose name this Obligation is registered at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. 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, the principal hereof are payable in lawful money of the United States of America by check or draft or other agreed means of payment by U.S. Bank National Association, St. Paul, Minnesota as Registrar and Paying Agent (the Registrar), or its designated successor under the Resolution described he�rein. For the prom�t and full payment of such prineipal and interest as the same respeetively become due, the full faith, credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. This Obligation is one of an issue in the aggregate principal amount of$725,000 issued pursuant to a resolution adopted by the City Council on April 17, 2012 (the Resolution), to finance the costs of acquisition of capital equipmant, and is issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Section 412.301 and Chapter 475. The Obligations are issuable only in fully registered form, in denominations of$5,000 or any integral multiple thereof, of single maturities. The Obligations are not subject to optional redemption prior to maturity. � As provided in the Resolution and subject to certain limitations set forth therein, this Obligation is transferable upon the books of the Issuer at the principal offic� of the Registrar, by the registered owner hereof in person or by the owner's attorney duly authorized in writin,g upon � surrender hereaf 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 Obligations of other authorized denominations. Upon such transfer or exchange the Issuer will cause a new Obligation or Obligations 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. Notwithstanding any other provisions of this Obligation, so long as this Obligation is registered in the name of Cede & Co., as nominee of The Depository Trust Company, ar in the name of any other nominee Qf The Depository Trust Company or other securities depository, the Registrar shall pay all principal of and interest on this Obligation, and shall give all notices with respect to this Obligation, 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 Obligations have been designated as "qualified tax-exempt obligations"pursuant to Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. The Issuer and the Registrar may deem and treat the person in whose name this Obligation is registered as the absolute owner hereof, whether this Obligation 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 HERE�Y CERTIFTED, RECITED, COVENANTED AND AGREED that all acts, conditions and things required by the Constitution and laws of the State af Minnesota to be done, to exist, ta happen and to be performed prior to and in the issuance of this Obligation 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, priar to the issuance hereof, the City Council has levied ad valorem taxes on all taxable property in the Issuer, which taxes will be collectible for the years and in amounts sufficient to produce sums not less than five percent in excess of the principal of and interest on the Obligations when due, and has appropriated such taxes to its General Obligation Equipment Certificates of Indebtedness, Series 2012B Sinking Fund for the payment of such principal and interest; 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 and that the issuance of this Obligation, 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 indebtedness of the Issuer to exceed any constitutional or statutory limitation of indebtedness. This Obligation 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 Ci�y Council, has caused this Obligation to be executed on its behalf by the facsimile signatures of the Mayor and City Manager and has caused this Obligation to be dated as of the date set forth below. CITY OF GOLDEN VALLEY, MINNESOTA �facsimile si�nature - Cit�anager) (facsimile si��nature - Ma��or) CERTIFICATE OF AUTHENTICATION This is one of the Obligations delivered pursuant to the Resolution mentioned within. Dated: U.S. BANK NATIONAL ASSOCIATION, as Registrar By Authorized Representative The following abbreviatians, when used in the inscription on the face of this Obligation, 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 comznon Additional abbreviations may also be used. ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto the within Obligation and all rights thereunder, and does hereby irrevocably constitute and appoint attorney to transfer the said Obligation on the books kept for registration of the within Obligation, with full power of substitution in the premises. Dated: NOTICE: The assignor's signature to this assignment must correspond with the name as it appears upon the face of the within Obligation 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 Obligation form] Section 3. General Obligation Equipment Certificates of Indebtedness, Series 2012B Sinkin Fund. So long as any of the Obligations 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 Equipment Certificates of Indebtedness, Series 2012B Sinking Fund (the Sinking Fund), and the principal of and interest on the Obligations shall be payable from the Sinking Fund. The Issuer irrevocably appropriates to the Sinking Fund (a) any amount in excess of$ received from the Purchaser; (b) all taxes levied and collected in accordance with this Resolution; and (c) all other moneys as shall be appropriated by the City Council to the Sinking Fund from time to time. If the balance in the Sinking Fund is at any time insufficient to pay all interest and principal then due on all Obligations payable therefrom, the payment shall be made from any fund of the Issuer which is available for that purpose, subject to reimbursement from the Sinking Fund when the balance therein is sufficient, and the City Council covenants and agrees that it will each year levy a sufficient amount of ad valorem taxes to take care of any accumulated or anticipated deficiency, which levy is not subjeet to any constitutianal or statutory limitation. Section 4. Pledge of Taxing Powers. For the prompt and full payment of the principal of and interest on the Obligations 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 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: Lev.y Years Collection Years � Amount 2012-2014 2013-2015 See attached Levy Computation The taxes shall be irrepealable as long as any of the Obligations 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 5. Defeasance. When all of the Obligations have been discharged as provided in this sectian, all pledges, covenants and other rights granted by this Resolution ta the holders of the Obligations shall cease. The Issuer may discharge its obligations with respect to any Obligations which are due on any date by depositing with the Registrar on ar before that date a sum sufficient for the payment thereof in full, or if any Obligation 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 acerued from the due date to the date of such deposit. The Issuer may also at any time discharge its obligations with respect to any Obligations, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a bank or trust company qualified by law as an escrow agent for this purpose, cash or securities which are authorized by law to be so deposited, bearing interest payable at such time and at such rates and maturing or callable at the holder's option on such dates as shall be required to pay all prineipal and interest to b�come due thereon to maturity. Section 6. Certification of Proceedings. 6.01. Re i�str_ation of Obli�ations and Levy of Taxes. The City Manager is hereby authorized and directed to file a certified copy of this resolution with the County Auditor of Hennepin County and abtain a certificate that the Obligations have been duly entered upon the Auditor's bond register and the tax required by law has been levied. 6.02. Authentication of Transcrint. 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 Obligations and such other affidavits, certificates and information as may be required to show the facts relating to the legality and marketability of the Obligations,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. 6.03. Official Statement. The Official Statement relating to the Obligations, dated April_, 2012, prepared and delivered on behalf of the Issuer by Springsted Incorporated, is hereby approved. 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 Obligations 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 ofthe O�cial Statement. Section 7. Tax Covenants; Arbitra�e Mattersi Reimbursement and Continuin� Disclosure. 7.01. General Tax Covenant. The Issuer covenants and agrees with the registered owners from time to time of the C)bligations that it will not take, or permit to be tak�n by any of its officers, employees or agents, any actions that would cause interest on the Obligations to become includable in gross income of the recipient under the Internal Revenue Code of 1986, as amended (the Code) and applicable Treasury Regulations (the Regulations), and covenants to take any and all actions within its powers to ensure that the interest on the Obligations will not become includable in gross income of the recipient under the Code and the Regulations. In particular, the Tssuer covenants and agrees that all proceeds of the Obligations will be expended solely for the payment of the costs of acquisition and installation of capital equipment to be owned and maintained by the Issuer and used in the Issuer's general governmental operations. The Issuer shall not enter into any lease, use or other agreement with any nan-governmental person relating to the use of the equipment or security for the payment of the Obligations which might cause the Obligations to be considered "private activity bonds" or "private loan bonds" pursuant to Section 141 of the Code. � 7.02. Certification. The Mayor and City Manager being the officers of the Issuer charged with the responsibility for issuing the Obligations pursuant to this Resolution, are authorized and directed to execute and deliver to the Purchaser a certificate in accordance with the provisions af Section 148 of the Code and Regulations, stating the facts, estimates and circumstances in existence on the date af issue and delivery of the Obligations which make it � reasonable to expect that the proceeds of the Obligatians will not be used in a manner that would cause�the Obligations tQ be"arbitrage bonds" within the meaning of the�Code and Regulations.� 7.03. Arbitrage Rebate. The Issuer acknowledges that the Obligations are subject to the rebate requirements of Section 148(� 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(� and applicable Regulations to preserve the exclusion of interest on the Obligations from gross income for federal income tax purposes, unless the Obligations qualify for an exception from the rebate requirement pursuant to one of the spending exceptions set forth in Section 1.14$-7 of the Regulations and no "grass proceeds" of the Obligations (other than amounts constituting a"bona fide debt service fund") arise�during or after the expenditure of the original proceeds thereof. 7.04. Reimbursement. The Issuer certifies that the proceeds of the Obligations will not be used by the Issuer to reimburse itself for any expenditure with respect to the Project which the Issuer paid or will have paid more than 6Q days prior to the date of adoption of its reimbursement resolution for the Project, Apri13, 2012, provided that this certification shall not apply (i) with respect to certain de minimis expenditures, if any, with respect to the Project meeting the requirements of Section 1.150-2(�(1) of the Regulations, or(ii) with respect to "preliminary expenditures" for the Project as defined in Section 1.150-2(�(2) of the Regulations, including engineering or architectural expenses and similar preparatory expenses, which in the aggregate do not exceed 20% of the "issue price" of the Obligations. 7.05. Qualified Tax-Exempt Obli atg ions. The Council hereby designates the Obligations as"qualified tax exempt obligations" for purposes af 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 SQ1(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 2012 does not exceed $10,000,00Q. 7.06. Continuing; Disclosure. (a) Purpose and Beneficiaries. To provide for the public availability of certain information relating to the Obligations and the security therefor and to permit the Purchaser and ather participating underwriters in the primary offering af the (Jbligations to comply with amendments to Rule 15c2-12 promulgated by the SEC under the Securiti�s Exchange Act of 1934 (17 C.F.R. § 240.15c2-12), relating to continuing disciQSUre (as in effect and interpreted from time ta time, the Rule), which will enhance the marketability of the Obligations, 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 Obligations, The Issuer is the only obligated person in respect of the Obligations within the meaning of the Rule for purposes of identifying the entities in respect of which continuing disclosure must be made. The Issuer has camplied 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 Obligations, 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 actian for a writ of mandamus or specific performance. Direct, indirect, consequential and punitive damages shall not be recoverable for any default hereunder to the extent permitted by law. Notwithstanding anything ta the contrary contained herein, in no event shall a default under this section constitute a default under the Qbligations or under any other provision of this resolution. As used in this section, Owner or Bondowner means, in respect of an Obligatian, 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 an Obligation, 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 Obligation (including persons or entities holding Obligations through nominees, depositories or other intermediaries), or (b) is treated as the owner of the Obligation for federal income tax purposes. (b) Infarmation 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, 2011, the following financial information and operating data in respect of the Issuer (the Disclosure Infarmation): (A) the audited financial statements of the Issuer for such fiscal year, prepared in accordance with generally accepted accounting principles 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, which information may be unaudited. Notwithstanding the foregoing paragraph, if the audited financial statements are not available by the date specified, the Issuer shall provide an or before such date unaudited financial statements in the format required far the audited financial statements as part of the I�isclosure Information and, within 10 days after the receipt thereof, the Issuer shall provide the audited financial statements. Any or all of the Disclosure Infarmation may be incorporated by reference, if it is updated as required hereby, from other documents, including official statements, which have been filed with the SEC or have been submitted to the Municipal Securities Rulemaking Board (MSRB)through its Electronic Municipal Market Access System (EMMA). 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, 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) hereo�, 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 not in excess of ten business days after the occurrence of the event, notice of the occurrence of any of the following events (each, a Material Fact): (A) Principal and interest payment delinquencies; (B) Non-payment related defaults, if material; (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, the issuance by the Internal Revenue Service of proposed or final determinations of taxability,Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the ta�c status of the Obligations, or other material events affecting the tax status of the Obligations; (G) Modifications�to rights of security holders, if material; � (H) Obligation calls, if material, and tender offers; � (I) Defeasances; (J) �Zelease, substitution, or sale of property securing repayment of the securities, if material; (K) Rating changes; (L) Bankruptcy, insolvency, receivership or a similar event with respect to the Issuer; (M) The consummation of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and (N) Appointment of a successor or additional trustee or the change of name of a trustee, if material. As used herein, for those events that must be reported if material, an event is "material" if it is an event as to which a substantial likelihood exists that a reasonabiy prudent investor woula attach importance thereta in deciding to buy, hold or sell an Obligation or, if not disclosed, would significantly alter the total information otherwise available to an investar from the Official Statement, information disclosed hereunder or information generally available to the public. Notwithstanding the foregoing sentence, an event is also "material" if it is an event that would be deemed material for purposes of the purchase, holding or sale of an Obligation within the meaning of applicable federal securities laws, as interpreted at the time of discovery of the occurrence of the event. For the purposes of the event identified in (L) hereinabove, the event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar � officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental autharity having supervision or jurisdiction over substantially all of the assets or business of the obligated person. (3) In a timely manner, natice of the occurrence of any of the following events or conditions: (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 af 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. (1) The Issuer agrees to make available to the MSRB through EMMA, in an electronic format as prescribed by the MSRB, the information described in subsection (b). (2) All documents provided to the MSRB pursuant to this subsection (c) shall be accompanied by identifying information as prescribed by the MSRB from time to time. (d) Term; Amendments; Interpretation. (1) The covenants of the Issuer in this section shall remain in effect so long as any Obligations 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 Band 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 Obligations 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 suecessory thereto or amendatory thereof. (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) hereo� or the consent of the Owners of any Obligations, by a resolution of this Council filed in the affice 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 frorn 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 Obligations, 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 Obligation Owners 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 reasans for the amendment and the effect, if any, of the change in the type of financial infarmation or aperating 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. Shepard M. Harris, 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 his signature attested by the City Clerk. PROJECTED LEVIES Date Lev 2013 $ 2014 2015 � Total � � Resolution 12-33 April 17, 2012 Member introduced the following and moved its adoption: RESOLUTION AUTHORIZING ISSUANCE, AWARDING SALE, PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT OF $6,110,000 GENERAL OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 2012C BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota(the Issuer), as follows: SECTION 1. AUTHORIZATION AND SALE. 1.01. Authorization. Pursuant to a resolution adopted by this Council on Apri13, 2012, ihe Issuer has determined it to be in its best interests to issue its General Obligation Improvement Refunding Bonds, Series 2012C, in a principal amount not to exceed $6,110,000 (the Bonds), pursuant to Minnesota Statutes, Chapter 475, to provide funds to be used, along with other available funds, to refinance on February 1, 2015 (the Refunding), the 2016 through 2025 maturities of the Issuer's General Obligation Improvement Bonds, Series 2005C, dated, as originally issued, as of June 1, 2005, which maturities are presently outstanding in the principal amount of$5,715,000 (the Refunded Bonds). February l, 2015 (the Crossover Date) is the earliest dat� upon which the Refunded Bonds may be redeemed without payment of pretnium. The Refunding is being carried out for the purpose described in Minnesata Statutes,�Section 475.67, subdivisian 3, section (b)(2)(i) and in complianae with Minnesota Statutes, Chapter 475. 1.02. Sale. Pursuant to the Terms of Proposal and the Official Statement prepared on behalf of the Issuer by Springsted Incorporated, sealed proposals for the purchase of the Bands were received at or before the time specified for receipt of proposals. The proposals have been opened, publicly read and considered and the purchase price, interest rates and net interest cost under the terms of each proposal have been determined. The most favorable proposal received is that of , in , (the Purchaser), to purchase the Bonds at a price af$ plus accrued interest on all Bands to the day of delivery and payment, on the further terms and conditions hereinafter set forth. 1.03. 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.Q4. Savin�s. 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 Sectian 148 of the Internal 1 Revenue Code of 1986, as amended (the Code), as the discount factor) of approximately $ ; and (b) as of the Crossover Date, the sum of(i) the present value af 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 %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. � 2.01. 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. 2.02. Maturities; Interest Rates; Denominations and Payment. The Bonds shall be originally dated as of May 15, 2012, 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 fram 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 2016 $235,000 % 2021 $ 945,000 % 2017 235,000 2022 965,000 2018 230,000 2023 985,000 2019 235,000 2024 1,OQ5,000 2020 235,000 2025 1,040,000 The Bonds shall be issuable only in fully registered form. The interest thereon 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 2.08 hereof, principal and interest shall be payable in accordance with the operational arrangements of the securities depository. 2.03. Dates and Interest Pa.��t Dates. Upon initial delivery of the Bonds pursuant to Section 2.07 and upon any subsequent transfer or exchange pursuant to Section 2.Q6, the date of authentication shall be noted on each Bond so delivered, exchanged or transferred. Interest on the Bonds shall be payable on February l and August 1, commencing February 1, 2013, 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 2 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 compased of twelve 30-day months. 2.04. Redemption, Bonds maturing in 2022 and later years shall be subject to redemption and prepayment at the option of the Issuer, in whole or in part, in such order of maturity dates as the Issuer may select and, within a maturity, by Iot as selected by the Registrar (or, if applicable, by the bond depository in accordance with its customary procedures) in multiples of$5,000, on February 1, 2021, and on any date thereafter, at a price equal to the principal amount thereof and accrued interest to the date of redemption. The City Manager 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 to be redeemed at their addresses as they appear on the bond register described in Section 2.06 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. 4fficial 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 redemptian 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 Band, a new Bond or Bonds will be delivered to the owner without charge, representing the remaining principal amount outstanding. [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 2.04 at a redemption price equal to the stated principal amount thereof plus interest accrued thereon to the redemption date, withaut premium. The Regastrar shall select for redemption, by lot or other manner deemed fair, on February 1 in each of the following years the followin� stated principal amounts of such Bonds: Term Bonds Maturing Februar�1,�20— Year Principal Amount The remaining $ stated principal amount of such Bonds shall be paid at maturity on February 1, 20_. Term Bonds Maturing Februarv 1, 20— Year Principal Amount 3 The remaining $ stated principal amount of such Bonds shall be paid at maturity on February 1, 20�. Notice of redemption shall be given as provided in the preceding paragraph.] 2.05. Appointment of Initial Re istrar. 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 carporation, 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 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 af 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. 2.06. Re�istration. The effect of registration and the rights and duties of the Issuer and the Registrar with respect thereto shall be as follows: (a) Re i�ster. 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 authari�ed 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) Exchange 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 4 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. (� Persons Deemed Owners. The Issuer and the Registrar may tr�at 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. (g) Ta�ces, Fees and Char�es. 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 Destroved 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 far any Bond destroyed, stolen or lost, upon the payment of the reasonable expenses and eharges of the Registrar in connection therewith, and, in the case of a Bond destroyed, stalen 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 ta issue a new Bond prior to payment. (i) Authentica�in�Agent. The Registrar is hereby designated authenticating agent for the Bonds, within the meaning of Minnesota Statutes, Section 475.55, Subdivision 1, as amended. (j) 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 ar exchange. 2.07. Execution, Authentication and Deliverv. 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 5 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. 2.08. Securities De�ositorv. (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 Band is recorded as the beneficial owner of such Bond by a Participant on the records of such Participant, or such persan'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 institutian 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 sha11 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 b�e given to awners 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 6 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. � (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 Bands 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 af Bonds is permitted under paragraph (b) or(c) hereof, such transfer or exchange shall be accomplished upon receipt by the Registrar af the Bonds to be transferred or exchanged and appropriate instruments af 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. 2.09. Farm of Bonds. The Bonds shall be prepared in substantially the following form: 7 UNITED STATES OF AMERICA STATE 4F MINNESOTA COUNTY OF HENNEPIN CITY OF GOLDEN VALLEY GENERAL OBLIGATION IMPROVEMENT REFUNDING BOND, SERIES 2012C Interest Rate � Maturit�ate Date of Original Issue GUSIP NO. % February 1, 2Q^ May 15, 2012 REGISTERED OWNER: CEDE & CO. PRIN�IPAL AMOUNT: THOUSAND DOLLARS THE CITY OF GOLDEN VALLEY, MINNESOTA (the Issuer), acknowledges itself to be indebted and far 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) ta which interest has been paid ar duly provided for, at the annual interest rate specified above, payable an February 1 and August 1 of each year, commencing February 1, 2013 (each such date, an Interest Payment Date), all subject to the provisions referred to herein with respect ta the redemption of the principal of this Bond before maturity. The interest so payable on any Interest Payment Date shall be paid to the persan in whose name this Band is registered at the close of business an the fifteenth da� (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 af 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 sueh principal and interest as the same respectively become due, the full faith and credit and taxin�powers of the Issuer have been and are hereby irrevocably pledged. This Bond is one of an issue in the aggregate�principal amount of$6,110,000 (the Bonds) issued pursuant to a resolution adopted by the City Council on April 17, 2012 (the Resolution)to provide funds,together with other available funds of the Issuer, to refund outstanding general obligation improvement bonds previously issued by the Issuer. 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. Bonds maturing in 2022 and later years shall be subject to redemption and prepayment at the option of the Issuer, in whole or in part, in such order of maturity dates as the Issuer may select and, within a maturity, by lot as selected by the Registrar (or, if applicable, by the bond depository in accardance with its customary procedures) in multiples of$5,000, on February 1, 2021, and on any date thereafter, at a price equal to the principal amount thereof and accrued 8 interest to the date of redemption. 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 Registrar, but no defect in ar failure to give such mailed notice of redemption shall affect the validity of proceedings for the redemption af any Bond not affected by such defect or failure. Official notice of redemption having been given as aforesaid, the Bonds ar 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. [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 2� 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 Maturin i� n 20-- Term Bonds Maturing in 20-- Sinking Fund Aggregate Sinking Fund Aggregate Payment Date Principal Amount Payment Date Principal Amount $ $ Notice of redemption shall be given as provided in the preceding paragraph.] As pravided in the Resolution and subject to certain limitatians 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 ta 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 prineipal amaunt, 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 af any 9 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, oniy 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, ta 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 2012C Bond Fund and has appropriated thereto certain investment earnings on the proceeds of the Bonds, [special assessments levied upon property specially benefited by the local improvements refinanced by the Bonds] and ad valorem taxes levied upon all taxable property in the Issuer, which will be collectible in the years and in 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; and 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 indebtedness of the Issuer to exceed any constitutional or statutory limitation of indebtedness. This Band 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 Mayar and City Manager and has caused this Bond to be dated as of the date set forth below. CITY OF GOLDEN VALLEY, MINNESOTA (facsimile signature—Cit�Mana�er� �facsimile signature—Mavor) CERTIFICATE OF AUTHENTICATION Dated: This is one af the Bonds delivered pursuant to the Resolution mentioned within. U.S, BANK NATIQNAL ASSOCIATION, as Bond Registrar 10 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: 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 th� 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] 11 SECTION 3. USE OF PROCEEDS AND SECURITY. 3.01. Bond Proceeds. Upon payment for the Bands 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 13, maturing an 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) $ representing rounding amount will be deposited in the Bond Fund described in Section 3.02 hereo£ 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. 3.02. General Obligation Improvement Refundin�Bonds Series 2012C Bond Fund. Sa 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 2012C Bond Fund (the Bond Fund), and the principal of and interest on the Bonds shall be payable from the Bond Fund. The Issuer irrevacably appropriates to the Bond Fund (a) all receipts of principal and interest on the investments held in the escrow account established pursuant to Section 3.01 to and including the �rossover Date (other than the sum of$5,715,Q00 received from maturing investments on the Crossover Date to be used to retire the Refunded Bonds); (b) [commencing on the Crossover Date, special assessments pledged pursuant to the resalution authorizing issuance of the Refunded Bonds]; (c) ad valorem taxes collected in accordance with the provisions of Section 3.03 hereof; and (d) such other funds as may be appropriated from time to time by the Issuer to the Bond Fund to pay principal of and interest an 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. 3.03. Pled�e of Taxing Powers, For the prompt and full payment of the principal of and interest on the Bonds as such payments respectively became 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 3.02 above, will produce not less than 5% in excess of the amount needed to meet when due the principal and interest payments on the Bonds, 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: Lev_y, Years Collection Years Amount See attached Levy Computation 12 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 dischaxged as pravided in this Section, all pledges, covenants and other rights granted by this Resolutian 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 an or before that date an amount equal to the principal, interest and redemptian premium, if any, which are then due, provided that notice of such redemption has been duly given as pravided herein. The Issuer may also at any time discharge its obligatians 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 desi�nated 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. SEGTION 5. CERTIFICATION OF PROCEEDINGS. 5.01. Registration 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 and obtain a certificate that the Bonds have been duly entered upon the County Auditor's band register and the tax required by law has been levied. 5.02. 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 ta the correctness of all statements contained therein. � 13 5.03. Official Statement. The Official Statement relating to the Bonds, dated April�, 2012, 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 eertificates 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. 6.01. General Tax Covenant. The Issuer covenants and agrees with the registered owners from time to time of the Bonds that it witl not take or permit to be taken by any of its afficers, employees ar agents, any actian which would cause the interest on the Bonds to become includable in gross�income of�the reeipient under the Code and applicable Treasury Regulations (the Regulations), and covenants ta 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 under the Code and the Regulations. The Tssuer 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, ar 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. 6.02. Arbitra�e 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 authorized and directed to execute and deliver to the Purchaser a certificate in accordance with the provisions of Section 148 of the Gode and Section 1.14$-2(b) of the Regulations stating the facts, estimates and circumstances in existence on the date of issue and delivery of the Bands 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. 6.03. Arbitrage Rebate. The Issuer acknowledges that the Bonds are subject to the rebate requirements of Section 148(� 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 14$(fl 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 af the original proceeds thereof. 14 6.04. Qualified Tax-Exem tp Obli ations. 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 af 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 2012 does not exceed $10,000,000. 6.05. 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. 6.06. Continuin��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 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 Beneficiai 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� Qwner 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, sueh 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 fallowing times: 1S (1) on or before 365 days after the end of each fiscal year of the Issuer, commencing with the fiscal year ending December 31, 2011,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, prepared in accordance with generally accepted accounting principles 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 campleteness 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 infarmation 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, which information may be unaudited. 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 �'or the audited financial statements as part of the Disclasure Information and, within 10 days after the receipt thereof, the Issuer shall provide the audited financial statements. Any or all of the Disclosure Infarmation may be incorporated by reference, if it is updated as required hereby, from other documents, including official statements, which have been filed with the SEC or have been submitted to the Municipal Securities Rulemaking Board (MSRB) through its Electronic Municipal Market Access System (EMMA). 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, 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)hereofj, 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 Disclosur� 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 nat in excess of ten business days after the accurrence of the event, notice of the occurrence of any of the following events (each,a Material Fact): 16 (A) Principal and interest payment delinquencies; (B) Non-payment related defaults, if material; (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, the issuance by the Internal Revenue Service of proposed or final determinations of taxability,Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting the tax status of the Bonds; (G) Modifications to rights of security holders, if material; (H) Bond calls, if material, and tender offers; (I) Defeasances; (J) Release, substitution, or sale of property securing repayment of the securities, if material; (K) Rating changes; (L) Bankruptcy, insolvency, receivership or a similar event with respect to the Issuer; (M) The consummation of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and (N) Appointment of a successor or additional trustee ar the change of name of a trustee, if material. As used herein, for those events that must be reported if material, an event is "material" if it is an event 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 informatian generally available to the public. Notwithstanding the foregoing sentence, an event is also "material" if it is an event that wauld 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. For the purposes of the event identified in (L) hereinabove, the event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Gode or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possessian but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental 17 authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person. (3) In a timely manner, notice of the occurrence of any �of the following events ar conditions: (A) the failure of the Issuer to provide the Disclosure Information requir�d 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 explanatian 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 Disclasure. (1) The Issuer agrees to make available to the MSRB through EMMA, in an electronic format as prescribed by the MSRB, the information described in subsection (b). (2) All documents provided to the MSRB pursuant to this subsection (c) shall be accompanied by identifying information as prescribed by the MSRB from time to time. (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 ta 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. (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) hereo� 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 ta customary qualifications,to the 18 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 sa 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 amendrnent 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. � � Shepard M. Harris, 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 his signature attested by the City Clerk. 19 PROJECTED LEVIES Date Lev $ Total � , 20 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 Assaciation, 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 agre� as follows: 1. The Issuer has duly issued and presently has outstanding an issue of General Obligation Improvement Bonds, Series 2005C (the Series 2005C Bonds) and has issued its $6,110,000 General Obligation Improvement Refunding Bonds, Series 2012C, dated as of May 15, 2012 (the Refunding Bonds), to refund in an advance crossover refunding on February 1, 2015 (the Crossover Date)those outstanding Series 2005C Bonds maturing in the years 2016 through 2025, which are currently outstanding in the principal amount of$5,715,000 (the Refunded Bonds). 2. The Issuer has also, in accordance with a resolution adopted April 17, 2012 (the Resolution),simultaneously with the execution of this Agreement, transmitted Refunding Bond proceeds in the amount of$ to the Agent to be used as follows: (a) $ of Refunding Bond proceeds to purchase an equivalent principal amount of federal securities as identified in Exhibit A attached hereto, and (b) $ of Refunding Bond proceeds to be deposited as a beginning cash balance in the Escrow Account hereinafter established. In the opinion of , independent, nationally recognized eertified public accountants (the Accountants), the federal securities designated in paragraph (a) mature at such times and bear interest at such rates that the callections of principal and interest thereon, together with the initial cash balance designated in paragraph (b),will produce amounts shown on Exhibit B attached hereto sufficient to pay (i) the interest due on the Refunding Bonds to and including the Crossover Date and (ii) the principal amount of the Refunded Bonds on the Crossover Date. 3. The Agent agrees to apply the funds received from the Issuer in the manner and far the purposes set forth in Section 2 hereof and in this Section. The Agent acknowledges purchase and 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 an such federal securities and will remit from the Escrow Account, as the paying agent for the Refunded Bonds, the money required from time to time for payment of principal of, redemption price and interest thereon as shown in Exhibit B. The Agent will, not less than 30 days prior to the Crossover Date, cause the Notice of Redemption relating to the Refunded Bonds attached hereto as Exhibit C, to be mailed to the holders of all Refunded Bonds to be redeemed on the Crossover Date. 4. In order to ensure continuing cornpliance with the Internal Revenue Code of 1986, as amended (the Code), and Treasury Regulations (the Regulations) promulgated thereunder, 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 tne 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 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 obligatians 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, to the extent described in Section 2 hereof, and will be sufficient to pay the principal amount of the Refunded Bonds ealled 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 calculatians underlying such certification, (b)�an unqualified opinion of nationally r�cognized bond counsel to the effect that such replacement (1) will not cause the Refunded Bonds or the Refunding Bonds to be subjected to treatrnent as "arbitrage bonds," under Section 148 of the Code, and (2) is otherwise in compliance with this Agreement. Any replacement authorized by this paragraph 4 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 speeified in the written direction of the Issuer,� 5. The Agent acknowledges that arrangements satisfactory to it for payment of its compensation for all services to b� 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. If at any time it shall appear to the Agent that the money in the Escrow Account will not be sufficient to make any payment due to the registered owners of any of the Refunding Bonds or Refunded Bonds as described in Section 2 hereof, the Agent shall immediately notify the Issuer. Upon receipt of such notice the Issuer shall forthwith transmit to the Agent for deposit in the Escrow Account from moneys on hand and legally available therefor, such additional moneys as may be required to make any such payment, and the Issuer recognizes its obligation to levy ad valorem taxes on all taxable property in the Issuer to the extent permitted by Minnesota law to produce the moneys necessary for this purpose. 2 7. Within 60 days following the close of each fiscai year of the Issuer and the 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. � 8. 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. 9. 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, 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 the Crossover 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 ather provision, provided that the Agent shall determine that any such amendment shall not adversely affect the owners of the Refunded Bonds or Refunding Bonds. In the event an amendment to this Agreement is proposed to be made pursuant to this Section 9, 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, 7 World Trade Center—250 Greenwich Street, New York, New York 100Q7. � 10. 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 registered owners of the Refunding Bonds and the Refunded Bonds, as their interests may appear. Said third party beneficiaries shall be entitled ta 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. 11. Upon merger or consolidation of the Agent, if the resulting corparation 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 becom� effective until a successor agent has been appointed. 3 IN WITNESS WHEREOF the parties hereto have eaused this instrument to be duly executed by their duly authorized officers on May 15, 2012. CITY OF GOLDEN VALLEY, MINNESOTA By Mayor And City Manager [Signature Page to Escrow Agreement dated May 15, 2412] 4 U.S. BANK NATIONAL ASSOCIATION, as Agent By Its [Signature Page to Escrow Agreement dated May 15, 2012] 5 EXHIBIT A A-1 EXHIBIT B B-1 NOTICE OF REDEMPTION $5,990,000 General Obligation Improvement Bonds, Series 2005C Dated as of June 1,2005 City of Golden Valley, Minnesota Notice is hereby given that all Bonds of the above issue which mature on February 1 in the following years and amounts: Maturitv Amount Rate Maturi Amount Rate 2016* $ 160,000 4.250% 2021* $ 895,000 4.250% 2017* 165,000 4.250 2022* 930,000 4.250 2018* 170,000 4.250 2023* 970,000 4.250 2Q19* 175,000 4.250 2024* 1,010,000 4.250 2020* 180,000 4.250 2025* 1,060,000 4.250 *Indicates full call. are called for redemption and prepayment on February l, 2015. The Bonds will be redeemed at a price of 100% of their principal amount plus accrued interest to the date of redemption. Holders of such Bonds should present them for payment on or before said date,on which date they will cease to bear interest. A form W-9, Payer's Request for Taxpayer ldentification Number, must be completed and returned with the called bond or 31% of the bond redemption proeeeds will be withheld. Payment of bonds to be redeemed wili be made on and after February 1, 2015, by submitting said bond along with the completed form W-9 to U.S. Bank National Association, at the following addresses: If bx Mail: If bv Hand or Overni�ht_Mail: U.5. Bank Nationa) Association U.S. Bank National Association Corporate Trust Operations, 3rd Floor 60 Livingston Avenue P.O, Box 64111 EP-MN-WS3C St. Paul, MN 55164-0111 � Bond Drop Window, 1 st F1oQr � � St. Paul, MN 55 3 07 � � If you request payment of principal and/or interest via wire transfer, please be advised there is a wire transfer fee which will be deducted from your payment. Dated; , 20_. U.S. BANK NATIONAL ASSOCIATION C-1 �� , Police Department 763-593-80791763-593-8Q98(fax) Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 6. B. First Consideration - Ordinance#483 -Amendment to the 2012 Master Fee Schedule- Vehicle Forfeitures Prepared By Nathan R. Gove, Commander Summary Minnesota Law concerning vehicle forfeitures allows a police agency to charge an administrative fee to cover the costs associated with the forfeiture when returning a forfeited vehicle to a financial institution with a valid security interest or valid lease [169A.63 Subd. 11 (a) & (b). Staff time and legal costs are incurred by our City during the forfeiture process. Impaund and storage fees are paid to the towing company before a forfeited vehicle is released, hawever no fee is currently charged by Golden Valley ta cover our costs. At the April Council/Manager meeting the Council discussed the administrative fee and requested staff bring back the item to a Council meeting for consideration. Staff is requesting the Master Fee Schedule be amended to include an administrative fee in the amount of$750 to cover the City's costs associated with the vehicle forfeiture. If the Council adopts the Ordinance on First Consideration, Second Consideration will be held at the May 1 meeting. Attachments Ordinance#483, Amendment to the Master Fee Schedule -Vehicle Forfeitures (1 page) Recommended Action Motion to adopt on First Consideration, Ordinance #483, Amendment to the Master Fee Schedule -Vehicle Forfeitures. ORDINANCE NO. 483, 2ND SERIES AN ORDINANCE AMENDING THE CITY CODE Amendment to the Master Fee Schedule for Vehicle Forfeiture The City Council for the City of Golden Valley hereby ordains: Section 1. The Master Fee Schedule in Chapter 25 of the City Code is hereby amended by adding the following: Vehicle Forfeitures per vehicle $750 not including towing and starage charges Section 2. City Code Chapter 1 entitled "General Provisions and Definitions Applicable to the Entire City Code Including Penalty for Violation" is hereby adopted in its entirety, by reference, as though repeated verbatim herein. Section 3. This ordinance shall take effect from and after its passage and publication as required by law. Adopted by the City Council this 1st day of May, 2012. /s/Shepard M. Harris Shepard M. Harris, Mayor ATTEST: /s/Susan M. Virniq Susan M. Virnig, City Clerk � �M M'� V J* a pp.,lp.. tk '+ 4.� Public Works Department 763-593-8030/763-593-3988(fax) Executive Summary For Action Golden Valley City Council Meeting April 17, 2012 Agenda Item 6. C. Direct Environmental Commission to Study Whether the City Code Should be Amended to Allow a Person to Keep or Harbor Chickens Prepared By Jeannine Clancy, Director of Public Works Mark Ray, PE, Engineer Summary Section 10.32 of the City Code prohibits animals and fowl keeping,transporting, treatment and housing in the City. At the April 10, 2012 Council/Manager meeting, the City Council requested that the Environmental Commission: 1. Study the current ordinance and make recommendation as to whether or not the ordinance should be amended; and 2. If the ordinance should be amended, what amendments should the City Council consider? During the discussion, the City Council asked staff to convey to the Commission that they take into account the diverse views on this topic, and that they seek expertise from a variety of different areas. Based upon this direction, staff will work with the Cammission to develop a work plan that will include: 1. Consultation with professionals (Animal Humane Society, Chicken Run Rescue, etc.) regarding chickens on private property in urban environments. 2. Discussion with Golden Valley code enforcement and police staff. 3. Review of ordinances for adjacent and other Twin Cities' metropolitan communities relevant to the topic. 4. Discussion with code enforcement staff for adjacent or metropolitan cities on issues and concerns relevant to the topic. 5. Discussion with Planning staff and Planning Commission relevant to land use issues. 6. Discussion with nature and wildlife professionals regarding potential environmental impacts and potential impact on other wildlife (coyotes, raccoons, etc.). 7. Discussian with legal counsel to understand legal issues related ta neighbors consent an fowl keeping. 8. Conduct self-directed independent information and fact finding efforts as needed. The final product of the Environmental Commission will be a detailed repart that covers atl considerations related to chickens on private property. The report will include the data and information collected from all the research and interviews conducted, arranged by topic. The report will also include a summary of pros and cons of allowing chickens on private property in Golden Valley and a recommendation to the City Council. Attachments • 5ectivn 10.32 of the Golden Valley City Code (2 pages) Recommended Action Motion to direct Environmental Commission to study whether Section 10.32 of the Golden Va(ley City Code should be amended to allow a person to keep or harbor chickens. § 10.32 Section 10.32: .Animals and Fowl-Keeping, Transporting, Treatment, and Housing Subdivision 1. Definitions As used in this Section, the following definitions shall apply. A. Farm Animals: Cattle, horses, mules, sheep, goats, swine, ponies, ducks, geese, turkeys, chickens, guinea hens and honey bees, B. Animals: Includes farm animals and all other animals, reptiles and feathered birds or fowl except dogs, cats, gerbils, hamsters and caged household birds, Subdivision 2. Keeping It is unlawful for any person to keep or harbor any animal, not in transit, except (1) animals kept as part of a show licensed under the City Code, or, (2) animals used in a parade for which a permit has been issued, or, (3) animals kept in a laboratory for scientifie or experimental purposes, or, (4) animals kept in an animal hospital or clinic for treatment by a licensed veterinarian. Subdivision 3. Animals in Transit It is unlaw�ul far any person to transport animals unless they are (1) confined • within a vehicle, cage or other means of conveyance, or (2) restrained by means of bridles, halters, ropes or other means of individual restraint. Subdivision 4. Treatment It is unlawful for any person to treat any animal as herein define�, or any other animal, in a cruel or inhumane manner. Subdivision 5. Housing It is unlawful far any persan ta keep any animal as herein defined, or any ather animal, in any structure infested by rodents, vermin, flies or insects, or inadequate for protection against the elements. Subdivision 6. Trespasses It is unlawful for any person to herd, drive or ride any animal over and upon any grass, turf, boulevard, City park, cemetery, garden or lot without specific permission therefor from the owner. Subdivision 7. Trapping It is unlawful for any person to, by means of any device or contrivance, catch, trap, snare, or restrain any animal. Provided, however, that the Director of Public Safety or Director of Public Works may waive the prohibition in this Subdivision for the purpose of abating nuisances. Golden Valley City Code Page 1 of 2 § 10.32 Subdivision 8. Enforcement Licensed peace officers, reserve officers, and community service officers, employed by the Department of Public Safety are authorized to issue citations for the violation of this Section. Source: City Code Effective Date: 6-30-88 Golden Valley City Code Page 2 of 2