City Council Resolution 2018-63CITY OF MONTICELLO, MINNESOTA
RESOLUTION NO. 2018-63
RESOLUTION CALLING PUBLIC HEARING ON THE
ADOPTION OF A FIVE-YEAR CAPITAL IMPROVEMENT
PLAN AND THE ISSUANCE OF GENERAL OBLIGATION
BONDS THEREUNDER
BE IT RESOLVED By the City Council of the City of Monticello, Wright County, Minnesota
(the "City"), as follows:
1. Pursuant to Minnesota Statutes, Section 475.521, as amended (the "Act"), the City may
issue general obligation bonds to finance capital expenditures under a five-year capital improvement plan
without an election provided that, among other things, prior to issuing the bonds the City holds a public
hearing regarding adoption of the Plan and the issuance of bonds thereunder.
2. The City has caused to be prepared its Capital Improvement Plan, 2018-2022 (the
"Plan"), pursuant to the Act.
3. In accordance with the Act, the City Council hereby calls for a public hearing to be held
on Monday, August 13, 2018, at approximately 6:30 PM, to consider the adoption of the Plan and the
issuance of bonds thereunder.
4. The Council hereby authorizes and directs the City Clerk and City staff to publish a
notice of public hearing in substantially the form set forth in EXHIBIT A attached hereto in the official
newspaper of the City or a newspaper of general circulation in the City at least 14 but not more than 28
days before the date of the public hearing.
Adopted by the City Council of the City of Monticello, Minnesota, this 23rd day of July, 2018.
Mayor
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EXHIBIT A
NOTICE OF PUBLIC HEARING
NOTICE OF PUBLIC HEARING REGARDING A FIVE-YEAR CAPITAL IMPROVEMENT
PLAN AND THE ISSUANCE OF GENERAL OBLIGATION BONDS THEREUNDER
NOTICE IS HEREBY GIVEN that the City Council of the City of Monticello, Minnesota (the
"City") will meet on Monday, August 13, 2018, at or after 6:30 PM in the City Council Chambers at City
Hall, 505 Walnut Street in the City, to hold a public hearing concerning (1) the adoption of a five-year
capital improvement plan for the City prepared in compliance with Minnesota Statutes, Section 475.521,
as amended (the "Plan"); and (2) the issuance of general obligation bonds (the "Bonds") thereunder for
the purposes set forth therein. The principal amount of the Bonds to be issued in 2019 under the Plan
shall not exceed $ 5,600,000.
If a petition requesting a vote on the issuance of the Bonds, signed by voters equal to five percent
(5%) of the votes cast in the City in the last general election, is filed with the City Clerk within thirty (30)
days after the public hearing, the City may issue the Bonds only after obtaining approval of a majority of
voters voting on the question at an election.
A copy of the Plan is available for inspection in the City Clerk's office at City Hall. Questions or
comments may be directed to the City Clerk at 763-271-3204.
All interested persons may appear and be hard at the public hearing either orally or in writing, or
may file written comments with the City Clerk before the hearing.
Dated: July 26, 2018
BY ORDER OF THE CITY COUNCIL OF
THE CITY OF MONTICELLO, MINNESOTA
/s/ Jennifer Schreiber
City Clerk
City of Monticello, Minnesota
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