2006-10-24MOUND HOUSING AND REDEVELOPMENT AUTHORITY
OCTOBER 24, 2006
The Housing and Redevelopment Authority in and for the City of Mound,
Minnesota, met in regular session on Tuesday, October 24, 2006, at 6:50 p.m. in
the council chambers of city hall.
Members Present: Chair Pat Meisel; Commissioners David Osmek, Bob Brown,
Mike Specht, and John Beise.
Others Present: City Attorney John Dean, City Manager Kandis Hanson, City
Clerk Bonnie Ritter, Community Development Director Sarah Smith, Public
Works Director Carlton Moore, Cindy Reiter, Terry Haakala, Ray Hanson,
Amanda Schwarze
1. Open Meeting
Chair Meisel called the meeting to order at 6:50 p.m.
2. Approve Agenda
Meisel requested the addition of 3A, Declaring the Official intent of the Authority
to Reimburse Certain Expenditures from the Proceeds of Bonds to be Issued by
the City. Also, Item 6 should read: Action setting special meeting to authorize
sale of bonds for Transit District Project: December 14, 2006, 5:00 p.m.
MOTION by Brown, seconded by Beise to approve the agenda as amended. All
voted in favor. Motion carried.
3. Approve Minutes
MOTION by Beise, seconded by Specht to approve the minutes of the October
10, 2006 meeting. All voted in favor. Motion carried.
3A. Declaring the Official Intent of the Authority to Reimburse Certain
Expenditures From the Proceeds of Bonds to be Issued by the City
MOTION by Brown, seconded by Osmek to approve the following resolution. All
voted in favor. Motion carried.
RESOLUTION NO. 06-12H: RESOLUTION DECLARING THE OFFICIAL
INTENT OF THE AUTHORITY TO REIMBURSE CERTAIN EXPENDITURES
FROM THE PROCEEDS OF BONDS TO BE ISSUED BY THE CITY
4. Indian Knoll Manor Management Report
Cindy Reiter presented the monthly report as follows:
A. September Bank Statement
B. August Income Statement
C. Review of bills paid: MOTION by Osmek, seconded by Brown to approve
payment of the bills for September, 2006.
Mound HRA Minutes -October 24, 2006
D. Manager's Report -Cindy presented the annual report
5. Update on Transit District Parking Deck Project
Terry Haakala of Walker Parking reviewed the revised plans and specifications
for the Transit District Parking Deck. With the new plans and specs, along with
new project timing, he feels that the city will receive more bids, and bids that are
closer to the engineers' estimates.
MOTION by Brown, seconded by Specht to adopt the following resolution. All
voted in favor. Motion carried.
RESOLUTION NO. 06-13H: RESOLUTION APPROVING PLANS AND
SPECIFICATIONS AND ORDERING ADVERTISEMENT FOR BIDS FOR
TRANSIT DISTRICT PARKING DECK
6. Action settinct special meetinct to authorize sale of bonds for the Transit
District Project
MOTION by Brown, seconded by Specht to set a special meeting for December
14, 2006, at 5:00 p.m. for the consideration of authorizing of sale of bonds for the
Transit District Project. All voted in favor. Motion carried.
7. Adjourn
MOTION by Brown, seconded by Specht to adjourn at 7:25 p.m. All voted in
favor. Motion carried.
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Attest: Bonnie Ritter, City Clerk
Chair Pat Meisel
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MOUND, MINNESOTA
RESOLUTION N0.06-12H
DECLARING THE OFFICIAL INTENT OF THE
AUTHORITY TO REIMBURSE
CERTAIN EXPENDITURES FROM THE PROCEEDS
OF BONDS TO BE ISSUED BY THE CITY
WHEREAS, the Internal Revenue Service has issued Treas. Reg. § 1.150-2 (the "Reimbursement
Regulations") providing that proceeds of tax-exempt bonds used to reimburse prior expenditures
will not be deemed spent unless certain requirements are met; and
WHEREAS, the Housing and Redevelopment Authority in and for the City of Mound,
Minnesota (the "Issuer"), expects to incur certain expenditures that may be financed temporarily
from sources other than bonds, and reimbursed from the proceeds of atax-exempt bond;
WHEREAS, the Issuer has determined to make this declaration of official intent (the
"Declaration") to reimburse certain costs from proceeds of bonds in accordance with the
Reimbursement Regulations.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF
MOUND, MINNESOTA AS FOLLOWS:
1. The Issuer proposes to acquire and construct a parking facility and improvements
related thereto, designated as the Mound Transit Center (the "Facilities").
2. The Issuer reasonably expects to reimburse the expenditures made for certain costs
of acquiring and constructing the Facilities from the proceeds of bonds in an estimated maximum
principal amount of $3,000,000. All reimbursed expenditures will be capital expenditures, costs of
issuance of the bonds, or other expenditures eligible for reimbursement under Section 1.150-2(d)(3)
of the Reimbursement Regulations.
3. This Declaration has been made not later than 60 days after payment of any
original expenditure to be subject to a reimbursement allocation with respect to the proceeds of
bonds, except for the following expenditures: (a) costs of issuance of bonds; (b) costs in an amount
not in excess of the lesser of $100,000 or 5 percent of the proceeds of an issue; or (c) "preliminary
expenditures" up to an amount not in excess of 20 percent of the aggregate issue price of the issue
or issues that finance or are reasonably expected by the Issuer to finance the project for which the
preliminary expenditures were incurred. The term "preliminary expenditures" includes
architectural, engineering, surveying, bond issuance, and similar costs that are incurred prior to
commencement of acquisition, construction or rehabilitation of a project, other than land
acquisition, site preparation, and similar costs incident to commencement of construction.
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4. This Declaration is an expression of the reasonable expectations of the Issuer
based on the facts and circumstances known to the Issuer as of the date hereof. The anticipated
original expenditures for the Project and the principal amount of the bonds described in
paragraph 2 are consistent with the Issuer's budgetary and financial circumstances. No sources
other than proceeds of bonds to be issued by the Issuer are, or are reasonably expected to be,
reserved, allocated on a long-term basis, or otherwise set aside pursuant to the Issuer's budget or
financial policies to pay such Project expenditures.
5. This Declaration is intended to constitute a declaration of official intent for
purposes of the Reimbursement Regulations.
Approved by the Board of Commissioners of the Housing and Redevelopment Authority in and
for the City of Mound, Minnesota this 24th day of October, 2006.
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Attest: Bonnie Ritter, City Clerk
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Chair Pat Meisel
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MOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 06-13H
RESOLUTION APPROVING PLANS AND SPECIFICATIONS AND ORDERING
ADVERTISEMENT FOR BIDS FOR TRANSIT DISTRICT PARKING DECK
WHEREAS, Walker Parking Consultants has prepared plans and specifications
for the Transit District Parking Deck, and has presented such plans and
specifications to the HRA for approval;
NOW, THEREFORE BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Mound:
1. Such plans and specifications, acopy of which is on file in the office of
the City Clerk, are hereby approved.
2. The City Clerk shall prepare and cause to be inserted in the official
newspaper and other appropriate publications, an advertisement for
bids upon the making of such improvement under such approved plans
and specifications. The advertisement for bids shall be published
according to law, shall specify the work to be done, shall state that the
bids will be considered by the HRA at a time determined, after said bid
opening date of December 6, 2006, at 2:00 p.m. Any bidder whose
responsibility is questioned during consideration of the bid will be given
an opportunity to address the HRA on the issue of responsibility. NO
bids will be considered unless sealed and filed with the clerk and
accompanied by a cash deposit, cashier's check, bid bond or certified
check payable to the City of Mound for 5% of the amount of such bid.
3. The HRA declares its official intent to reimburse itself for the cost of the
improvement from the proceeds of tax exempt bonds.
Adopted by the HRA this 24th day of October, 2006.
Attest: Bonnie Ritter, City Jerk
Chair Pat Meisel