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HomeMy WebLinkAbout2001 Resolutions 2 RESOLUTION C) 0 -4 1 • CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA RESOLUTION ELECTING TO CONTINUE PARTICIPATING IN THE LOCAL HOUSING INCENTIVES ACCOUNT PROGRAM UNDER THE METROPOLITAN LIVABLE COMMUNITIES ACT WHEREAS, the Metropolitan Livable Communities Act (Minnesota Statues Section 473.25 to 473.254) establishes a Metropolitan Livable Communities Fund which is intended to address housing and other development issues facing the metropolitan area defined by Minnesota Statutes section 473 -121; and WHEREAS, the Metropolitan livable Communities Fund, comprising the Tax Base Revitalization Account, the Livable Communities Demonstration Account, the Local Housing Incentive Account and the Inclusionary Housing Account is intended to provide certain funding and other assistance to metropolitan area municipalities; and WHEREAS, a metropolitan area municipality is not eligible to receive grants or loans under the metropolitan Livable Communities Fund or eligible to receive certain polluted sites cleanup funding from the Minnesota Department of Trade and Economic Development unless the municipality is participating in the Local Housing Incentives • Account Program under the Minnesota Statues section 473 -254; and WHEREAS, the Metropolitan Livable Communities Act requires the Metropolitan Council to negotiate with each municipality to establish affordable and life -cycle housing goals for that municipality that are consistent with and promote the policies of the Metropolitan Council as provided in the adopted Metropolitan Development Guide; and WHEREAS, each municipality must identify to the Metropolitan Council the actions the municipality plans to take to meet the established housing goals through preparation of the Housing Action Plan; and WHEREAS, the Metropolitan Council adopted, by, resolution after a public hearing, negotiated affordable and life -cycle housing goals for each participating municipality; and WHEREAS, a metropolitan area municipality which elects to participate in the Local Housing Incentives Account Program must do so by November 15 of each year; and • WHEREAS, for calendar year 2002, a metropolitan area municipality that participated in the Local Housing Incentive Account Program during the calendar year 2001, can continue to participate under Minnesota Statutes section 473.254 if (a) the municipality elects to participate in the Local Housing Incentives Program by November 15, 2001;and (b) the Metropolitan Council and the municipality have successfully negotiated affordable and life -cycle housing goals for the municipality; NOW, THEREFORE, BE IT RESOLIVED THAT the City of Oak Park Heights participate in the Local Housing Incentives Program under the Metropolitan Livable Communities Act during the calendar year 2002. PasX &ityouncil this 23 d day of October, 2001. BY: /C��' B Y Kimberly Kafrfiper, Mayor Acting City Administrator CITY OF OAK PARK HEIGHTS RESOLUTION NO. 01 -11- �0 RESOLUTION CALLING FOR HEARING ON ASSESSMENTS FOR THE HAZARDOUS BUILDING REMOVAL AT 5887 BEACH ROAD NORTH, OAK PARK HEIGHTS, MINNESOTA WHEREAS, the City Clerk, with the assistance of the City Community Development Director and the City Attorney have prepared an assessment roll for the improvement project known as the Hazardous Building Removal at 5887 Beach Road North, and said assessment roll is on file with the City Clerk and is open to public inspection; NOW THEREFORE BE IT RESOLVED by the City Council of the City of Oak Park Heights, Washington County, Minnesota as follows: 1. That the City Clerk shall publish Notice that this Council will meet to consider the proposed assessments on said hazardous building removal at 5887 Beach Road North with said public hearing being held on November 27, 2001 at 7:00 p.m. at the City Hall within the City of Oak Park Heights, Minnesota. The published notice shall be substantially in the form set forth in Exhibit A attached hereto. • 2. A copy of the Notice in substantially the form set forth in Exhibit B attached hereto shall be mailed to the owner of each parcel of property described within the assessment roll. Passed by the City Council of Oak Park Heights this 13' d ovember, 2001. David Beaudet Mayor ATTEST: Kimberly Kamper Acting City Administrator CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA RESOLUTION 01 -11- 5I • A RESOLUTION ADOPTING FEE CHANGES TO COMMUNITY DEVELOPMENT FEE SCHEDULE WHEREAS, on March 28, 2000 the City Council reviewed and adopted a Community Development Fee Schedule; and WHEREAS, fee schedules are subject to periodic review and amendment to ensure realistic fees for services rendered through the Community Development Department; and WHEREAS, the fee schedule of March 28, 2000 has been reviewed and an amendment of fees is recommended. NOW THEREFORE, BE IT RESOLVED, that the City Council for the City of Oak Park Heights hereby adopts the revised fee schedule as follows: COMMUNITY DEVELOPMENT DEPARTMENT BASE FEE * ESCROW FEE SCHEDULE Zoning District Amendment $400 $1,000 -3,000 Conditional Use Permit/Amendment $400 $1,000 -3,000 Variance: Single Family Residential $150 N/A Variance: Industrial /Commercial - $200 $1,000 -3,000 • Subdivision: Major $400 $1,000 -3,000 Subdivision: Minor $200 $500 Home Occupation $100 N/A Site Plan Review $400 $1,000 -3,000 Street Vacation $100 $500 PUD: Amendment $700 $1,000 -3,000 PUD: Concept Plan I $500 $1,000 -3,000 PUD: General Plan $700 $1,000 -3,000 Comprehensive Plan Amendment $500 $1,000 -3,000 *Escrow: Escrow is a guarantee that all final bills for the project will be paid. Based on Number of Units: 1 -9 $1,000 10 -50 $2,000 51+ $3,000 If the project exceeds 10 acres in size an individual escrow will be calculated for the project All new subdivisions must satisfy park dedication requirements. Home Occupation and Home Occupation Minor are renewed annually and require $10 annual renewal fee. MBea-0etC ity Coun ' 13 day of November, 2001. Attest: Kimberly K mper Mayor Acting City Administrator • City of Oak Park Heights Resolution 01 -11 -52 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $490,000 GENERAL OBLIGATION REFUNDING BONDS OF 2001 AND PLEDGING FOR THE SECURITY THEREOF SPECIAL ASSESSMENTS AND AD VALOREM TAXES A. WHEREAS, the City Council of the City of Oak Park Heights, Minnesota (the "City ") hereby determines and declares that it is necessary and expedient to provide moneys for a current refunding of the City's General Obligation Improvement Bonds of 1995, dated July 1, 1995 (the "Prior Bonds ") which mature on and after December 1, 2002; and B. WHEREAS, $480,000 of the principal amount of the Prior Bonds which mature on and after December 1, 2002, are callable on December 1, 2001, at a price of par plus accrued interest as provided in the Resolution of the City Council, adopted on June 12, 1995, authorizing the issuance of the Prior Bonds (the "Prior Resolution "); and C. WHEREAS, the refunding of the Prior Bonds maturing on and after December 1, 2002 (the "Refunded Bonds "), is consistent with covenants made with the holders thereof, and is necessary and desirable for the reduction of debt service cost to the City; and • D. WHEREAS, the City Council hereby determines and declares that it is necessary and expedient to issue $490,000 General Obligation Refunding Bonds of 2001, pursuant to Minnesota Statutes, Chapter 475, to provide moneys for a current refunding of the Refunded Bonds; and E. WHEREAS, it is in the best interests of the City that the Bonds be issued in book -entry form as hereinafter provided; and F. WHEREAS, no other obligations have been sold pursuant to a private sale within the last twelve (12) calendar months of the date hereof which when combined with this issue would exceed the $1,200,000 limitations on negotiated sales as required by Minnesota Statutes, Section 475.60, Subdivision 2(2). NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Oak Park Heights, Minnesota, as follows: 1. Acceptance of Offer. The offer of Juran & Moody, a division of Miller Johnson Steichen Kinnard, Inc. (the "Purchaser "), to purchase $490,000 General Obligation Refunding Bonds of 2001 of the City (the "Bonds" or the "Refunding Bonds ", or individually a "Bond "), at the rates of interest hereinafter set forth, and to pay therefor the sum of $482.650. plus interest accrued to settlement, is hereby accepted. 2. Terms of Bonds,. (a) Title: Oriainal Issue Date; Denominations: Maturities: and Term Bond, • Option The Bonds shall be titled "General Obligation Refunding Bonds of 2001 ", shall be dated November 1, 2001, as the date of original issue and shall be issued forthwith on or after such date in fully registered form. The Bonds shall be numbered from R -1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity. The Bonds shall mature on December 1 in the years and amounts as follows: Year Amount 2002 $130,000 2003 -2004 125,000 2005 110,000 All dates are inclusive. As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). (b) Book Entry Only System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository ") will act as securities depository for the Bonds, and to this end: (i) The Bonds shall be initially issued and, so long as they remain in book entry form only (the 'Book Entry Only Period "), shall at all times be in the form of a separate single fully registered Bond for each maturity of the Bonds; and for purposes of complying with this requirement under paragraphs 5 and 10 Authorized Denominations for any Bond shall be deemed to be limited during the Book Entry Only Period to the outstanding principal amount of that Bond. (ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond register maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE & CO., as the nominee (it or any nominee of the existing or a successor Depository, the "Nominee "). (iii) With respect to the Bonds neither the City nor the Bond Registrar shall have any responsibility or obligation to any broker, dealer, bank, or any other financial institution for which the Depository holds Bonds as securities depository (the "Participant ") or the person for which a Participant holds an interest in the Bonds shown on the books and records of the Participant (the 'Beneficial Owner "). Without limiting the immediately preceding sentence, neither the City, nor the Bond Registrar, shall have any such responsibility or obligation with respect to (A) the accuracy of the records of the Depository, the Nominee or any Participant with respect to any ownership interest in the Bonds, or (B) the delivery to any Participant, any Owner or any other person, other than the Depository, of any notice with respect to the Bonds, including any notice of • redemption, or (C) the payment to any Participant, any Beneficial Owner or any other person, other than the Depository, of any amount with respect to the principal of or premium, if any, or interest on the Bonds, or (D) the consent given or other action taken by the Depository as the Registered Holder of any Bonds (the "Holder "). For purposes of securing the vote or consent of any Holder under this Resolution, the City may, however, rely upon an omnibus proxy under which the Depository assigns its consenting or voting rights to certain Participants to whose accounts the Bonds are credited on the record date identified in a listing attached to the omnibus proxy. (iv) The City and the Bond Registrar may treat as and deem the Depository to be the absolute owner of the Bonds for the purpose of payment of the principal of and premium, if any, and interest on the Bonds, for the purpose of giving notices of redemption and other matters with respect to the Bonds, for the purpose of obtaining any consent or other action to be taken by Holders for the purpose of registering transfers with respect to such Bonds, and for all purpose whatsoever. The Bond Registrar, as paying agent hereunder, shall pay all principal of and premium, if any, and interest on the Bonds only to the Holder or the Holders of the Bonds as shown on the bond register, 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 premium, if any, and interest on the Bonds to the extent of the sum or sums so paid. (v) Upon delivery by the Depository to the Bond Registrar of written notice to the effect that the Depository has determined to substitute a new Nominee in place of the existing Nominee, and subject to the transfer provisions in paragraph 10 hereof, references to the Nominee hereunder shall refer to such new Nominee. (vi) So long as any Bond is registered in the name of a Nominee, all payments with respect to the principal of and premium, if any, and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, by the Bond Registrar or City, as the case may be, to the Depository as provided in the Letter of Representations to the Depository required by the Depository as a condition to its acting as book -entry Depository for the Bonds (said Letter of Representations, together with any replacement thereof or amendment or substitute thereto, including any standard procedures or policies referenced therein or applicable thereto respecting the procedures and other matters relating to the Depository's role as book -entry Depository for the Bonds, collectively hereinafter referred to as the "Letter of Representations "). (vii) All transfers of beneficial ownership interests in each Bond issued in book -entry form shall be limited in principal amount to Authorized Denominations and shall be effected by procedures by the Depository with the Participants for recording and transferring the ownership of beneficial interests in such Bonds. • (viii) In connection with any notice or other communication to be provided to the Holders pursuant to this Resolution by the City or Bond Registrar with respect to any consent or other action to be taken by Holders, the Depository shall consider the date of receipt of notice requesting such consent or other action as the record date for such consent or other action; provided, that the City or the Bond Registrar may establish a special record date for such consent or other action. The City or the Bond Registrar shall, to the extent possible, give the Depository notice of such special record date not less than 15 calendar days in advance of such special record date to the extent possible. (ix) Any successor Bond Registrar in its written acceptance of its duties under this Resolution and any paying agency/bond registrar agreement, shall agree to take any actions necessary from time to time to comply with the requirements of the Letter of Representations. (x) In the case of a partial prepayment of a Bond, the Holder may, in lieu of surrendering the Bonds for a Bond of a lesser denomination as provided in paragraph 5 hereof, make a notation of the reduction in principal amount on the panel provided on the Bond stating the amount so redeemed. (c) Termination of Book -Entry Onlv Svstem. Discontinuance of a particular Depository's services and termination of the book -entry only system may be effected as follows: (i) The Depository may determine to discontinue providing its services with respect to the Bonds at any time by giving written notice to the City and discharging its responsibilities with respect thereto under applicable law. The City may terminate the services of the Depository with respect to the Bond if it determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book -entry transfers through the Depository is not in the best interests of the City or the Beneficial Owners. (ii) Upon termination of the services of the Depository as provided in the preceding paragraph, and if no substitute securities depository is willing to undertake the functions of the Depository hereunder can be found which, in the opinion of the City, is willing and able to assume such functions upon reasonable or customary terms, or if the City determines that it is in the best interests of the City or the Beneficial Owners of the Bond that the Beneficial Owners be able to obtain certificates for the Bonds, the Bonds shall no longer be registered as being registered in the bond register in the name of the Nominee, but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with paragraph 11 hereof. To the extent that the Beneficial Owners are designated as the transferee by the Holders, in accordance with paragraph 10 hereof, the Bonds will be delivered to the Beneficial Owners. Nothing in this subparagraph (c) shall limit or restrict the provisions of paragraph 10 hereof. (d) Letter of Representations,. The provisions in the Letter of Representations are incorporated herein by reference and made a part of the resolution, and if and to the extent any such provisions are inconsistent with the other provisions of this resolution, the provisions in the Letter of Representations shall control. 3. Pumose. Refunding Findings. The Bonds shall provide funds for a current refunding of the Refunded Bonds (the "Refunding "). It is hereby found, determined and declared that the Refunding is pursuant to Minnesota Statutes, Section 475.67, and shall result in a reduction of debt service cost to the City. 4. Interest The Bonds shall bear interest payable semiannually on June 1 and December 1 of each year (each, an "Interest Payment Date "), commencing June 1, 2002, calculated on the basis of a 360 -day year of twelve 30 -day months, at the respective rates per annum set forth opposite the maturity years as follows: Maturity Interest Maturity Y Interest Year Rate Year Rate 2002 2.50% 2004 3.00% 2003 2.75 2005 3.25 S 5. No Redemption. The Bonds shall not be subject to redemption and prepayment prior to their stated maturity dates. 6. Bond Registrar. U.S. Bank Trust National Association in St. Paul, Minnesota, is appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond Registrar "), and shall do so unless and until a successor Bond Registrar is duly appointed, all pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. The Bond Registrar shall also serve as paying agent unless and until a successor paying agent is duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 12 of this resolution. 7. Form of Bond. The Bonds, together with the Bond Registrar's Certificate of Authentication, the form of Assignment and the registration information thereon, shall be in substantially the following form: • UNITED STATES OF AMERICA . STATE OF MINNESOTA WASHINGTON COUNTY CITY OF OAK PARK HEIGHTS R- $ GENERAL OBLIGATION REFUNDING BOND OF 2001 INTEREST MATURITY DATE OF RATE DATE ORIGINAL ISSUE CUSIP December 1, November 1, 2001 REGISTERED OWNER: PRINCIPAL AMOUNT The City of Oak Park Heights, Washington County, Minnesota (the "Issuer "), certifies that it is indebted and for value received promises to pay to the registered owner specified above, or registered assigns, in the manner hereinafter set forth, the principal amount specified above, on the maturity date specified above, without option of prior redemption, and to pay interest thereon semiannually on June I and December I of each year (each, an "Interest Payment Date "), commencing June 1, 2002, at the rate per annum specified above (calculated on the basis of a 360 -day year of twelve 30 -day months) until the principal sum is paid or has been provided for. This Bond will bear interest from the most recent Interest Payment Date to which interest has been paid or, if no interest has been paid, from the date of original issue hereof. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of U.S. Bank Trust National Association in St. Paul, Minnesota (the 'Bond Registrar "), acting as paying agent, or any successor paying agent duly appointed by the Issuer. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the person in whose name this Bond is registered (the "Holder" or 'Bondholder ") on the registration books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date "). Any interest not so timely paid shall cease to be payable to the person who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who is the Holder hereof at the close of business on a date (the "Special Record Date ") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given to Bondholders not less than ten days prior to the Special Record Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America. So long as this Bond is registered in the name of the Depository or its Nominee as provided in the Resolution hereinafter described, and as those terms are defined therein, payment of principal of, premium, if any, and interest on this Bond and notice with respect thereto shall be made as provided in Letter of Representations, as defined in the Resolution, and surrender of this Bond shall not be required for payment of the redemption price upon a partial redemption of this Bond. Until termination of the book - entry only system pursuant to the Resolution, Bonds may only be registered in the name of the Depository or its Nominee. No Redemption. The Bonds of this issue (the "Bonds ") are not subject to redemption and prepayment prior to their stated maturity dates. Issuance; Pumose; General Obligation. This Bond is one of an issue in the total principal amount of $490,000, all of like date of original issue and tenor, except as to number, maturity, interest rate and denomination, been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by the City Council on November 13, 2001 (the "Resolution "), for the purpose of providing funds for a current refunding of the Issuer's General Obligation Improvement Bonds of 1995, dated July 1, 1995, which mature on and after December 1, 2002. This Bond is payable out of the Debt Service Account of the Issuer's General Obligation Refunding Bonds of 2001 Fund. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, and interest when the same become due, the full faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. Denominations; Exchange; Resolution. The Bonds are issuable solely in fully • registered form in the denominations of $5,000 and integral multiples thereof of a single maturity and are exchangeable for fully registered Bonds of other authorized denominations in equal aggregate principal amounts at the principal office of the Bond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal office of the Bond Registrar. Transfer. This Bond is transferable by the Holder in person or by the Holder's attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Bond Registrar, all subject to the terms and conditions provided in the Resolution and to reasonable regulations of the Issuer contained in any agreement with the Bond Registrar. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of the transferee (but not registered in blank or to "bearer" or similar designation), of an authorized denomination or denominations, in aggregate principal amount equal to the principal amount of this Bond, of the same maturity and bearing interest at the same rate. Fees upon Transfer or Loss. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of this Bond and any legal or unusual costs regarding transfers and lost Bonds. Treatment of Registered Owners. The Issuer and Bond Registrar may treat the person in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided (except as otherwise provided herein with respect to the Record Date) and for all other purposes, whether or not this Bond shall be overdue, and neither the Issuer nor the Bond Registrar shall be affected by notice to the contrary. Authentication. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security unless the Certificate of Authentication hereon shall have been executed by the Bond Registrar. Oualified Tax- Exembt Obligation. This Bond has been designated by the Issuer as a "qualified tax - exempt obligation" for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and to be performed, precedent to and in the issuance of this Bond, have been done, have happened and have been performed, in regular and due form, time and manner as required by law, and that this Bond, together with all other debts of the Issuer outstanding on the date of original issue hereof and the date of its issuance and delivery to the original purchaser, does not exceed any constitutional or statutory limitation of indebtedness. IN WITNESS WHEREOF, the City of Oak Park Heights, Washington County, Minnesota, by its City Council has caused this Bond to be executed on its behalf by the facsimile signatures of its Mayor and its City Administrator. Date of Registration: Registrable by: U.S. BANK TRUST NATIONAL ASSOCIATION Payable at: U.S. BANK TRUST NATIONAL ASSOCIATION BOND REGISTRAR'S CERTIFICATE OF CITY OF OAK PARK HEIGHTS AUTHENTICATION WASHINGTON COUNTY, MINNESOTA This Bond is one of the Bonds described in the Resolution /s/ Facsimile mentioned within. Mayor U.S. BANK TRUST NATIONAL /s/ Facsimile ASSOCIATION Administrator St. Paul, Minnesota Bond Registrar By Authorized Signature • ABBREVIATIONS 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 applicable laws or regulations: TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right of survivorship and not as tenants in common UTMA - as custodian for (Cust) (Minor) under the Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the above list. ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto the within Bond and does hereby irrevocably constitute and appoint attorney to transfer the Bond on the books kept for the registration thereof, 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 any change whatever. Signature Guaranteed: Signature(s) must be guaranteed by a national bank or trust company or by a brokerage firm having a membership in one of the major stock exchanges or any other "Eligible Guarantor Institution" as defined in 17 CFR 240.17 Ad- 15(a)(2). The Bond Registrar will not effect transfer of this Bond unless the information concerning the transferee requested below is provided. Name and Address: (Include information for all joint owners if the Bond is held by joint account.) 8. Execution; Temnorary Bonds. The Bonds shall be printed (or, at the request of the Purchaser, typewritten) shall be executed on behalf of the City by the signatures of its Mayor and Administrator and be sealed with the seal of the City; provided, however, that the seal of the City may be a printed (or, at the request of the Purchaser, photocopied) facsimile; and provided further that both of such signatures may be printed (or, at the request of the Purchaser, photocopied) facsimiles and the corporate seal may be omitted on the Bonds as permitted by law. In the event of disability or resignation or other absence of either officer, the Bonds may be signed by the manual or facsimile signature of an officer who may act on behalf of the absent or disabled officer. In case either officer whose signature or facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, the signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if the officer had remained in office until delivery. The City may elect to deliver, in lieu of printed definitive bonds, one or more typewritten temporary bonds in substantially the form set forth above, with such changes as may be necessary to reflect more than one maturity in a single temporary bond. The temporary bonds may be executed with photocopied facsimile signatures of the Mayor and Administrator. Such temporary bonds shall, upon the printing of the definitive bonds and the execution thereof, be exchanged therefor and canceled. 9. Authentication. No Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this resolution unless a Certificate of Authentication on the Bond, substantially in the form hereinabove set forth, shall have been duly executed by an authorized representative of the Bond Registrar. Certificates of Authentication on different Bonds need not be signed by the same person. The Bond Registrar shall authenticate the signatures of officers of the City on each Bond by execution of the Certificate of Authentication on the Bond and, by inserting as the date of registration in the space provided, the date on which the Bond is authenticated, except that for purposes of delivering the original Bonds to the Purchaser, the Bond Registrar shall insert as a date of registration the date of original issue, which date is November 1, 2001. The Certificate of Authentication so executed on each Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. 10. Registration; Transfer; Exchange. The City will cause to be kept at the principal office of the Bond Registrar a bond register in which, subject to such reasonable regulations as the Bond Registrar may prescribe, the Bond Registrar shall provide for the registration of Bonds and the registration of transfers of Bonds entitled to be registered or transferred as herein provided. Upon surrender for transfer of any Bond at the principal office of the Bond Registrar, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration (as provided in paragraph 9) of, and deliver, in the name of the designated transferee or transferees, one or more new Bonds of any authorized denomination or denominations of a like aggregate principal amount, having the same stated maturity and interest rate, as requested by the transferor; provided, however, that no Bond may be registered in blank or in the name of "bearer" or similar designation. At the option of the Holder, Bonds may be exchanged for Bonds of any authorized denomination or denominations of a like aggregate principal amount and stated maturity, upon surrender of the Bonds to be exchanged at the principal office of the Bond Registrar. Whenever any Bonds are so surrendered for exchange, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration of, and deliver the Bonds which the Holder making the exchange is entitled to receive. All Bonds surrendered upon any exchange or transfer provided for in this resolution shall be promptly cancelled by the Bond Registrar and thereafter disposed of as directed by the City. All Bonds delivered in exchange for or upon transfer of Bonds shall be valid general obligations of the City evidencing the same debt, and entitled to the same benefits under this resolution, as the Bonds surrendered for such exchange or transfer. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the Bond Registrar, duly executed by the Holder thereof or his, her or its attorney duly authorized in writing. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of any Bond and any legal or unusual costs regarding transfers and lost Bonds. Transfers shall also be subject to reasonable regulations of the City contained in any agreement with the Bond Registrar, including regulations which permit the Bond Registrar to close its transfer books between record dates and payment dates. 11. Rights Unon Transfer or Exchanize. Each Bond delivered upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond. 12. Interest Pavment; Record Date. Interest on any Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond is registered (the "Holder ") on the registration books of the City maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth (15th) day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date "). Any such interest not so timely paid shall cease to be payable to the person who is the Holder thereof as of the Regular Record Date, and shall be payable to the person who is the Holder thereof at the close of business on a date (the "Special Record Date ") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given by the Bond Registrar to the Holders not less than ten (10) days prior to the Special Record Date. 13. Treatment of Reizistered Owner. The City and Bond Registrar may treat the person in whose name any Bond is registered as the owner of such Bond for the purpose of receiving payment of principal of and premium, if any, and interest (subject to the payment provisions in paragraph 12 above) on, such Bond and for all other purposes whatsoever whether or not such Bond shall be overdue, and neither the City nor the Bond Registrar shall be affected by notice to the contrary. 14. Deliverv; Application of Proceeds. The Bonds when so prepared and executed shall be delivered by the Administrator to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obliged to see to the proper application thereof. 15. Fund and Accounts. For the convenience and proper administration of the moneys to be borrowed and repaid on the Bonds, and to make adequate and specific security to the Purchaser and holders from time to time of the Bonds, there is hereby created a special fund to be designated the "General Obligation Refunding Bonds of 2001 Fund" (the "Fund ") to be administered and maintained by the Administrator as a bookkeeping account separate and apart from all other funds maintained in the official financial records of the City. The Fund shall be maintained in the manner herein specified until all of the Bonds herein authorized and the interest thereon shall have been fully paid. There shall be maintained and created in the fund the "Payment Account" and a "Debt Service Account ". (i) Payment Account. The proceeds of the Bonds, less accrued interest shall be deposited in the Payment Account. On or prior to December 1, • 2001, the Administrator shall transfer $480,000 of the proceeds of the Bonds from the Payment Account to the paying agent for the Refunded Bonds, which sum is sufficient, together with other funds on deposit in debt service fund for the Refunded Bonds, to pay the principal and interest due on the Refunded Bonds due on December 1, 2002, including the principal of the Refunded Bonds called for redemption on that date. The remainder of the monies in the Payment Account shall be used to pay the costs of issuance of the Bonds. Any monies remaining in the Payment Account after payment of all costs of issuance and payment of the Refunded Bonds shall be transferred to the Debt Service Account. (ii) Debt Service Account. To the Debt Service Account there is hereby pledged and irrevocable appropriated and there shall be credited: (1) accrued interest; (2) any balance remaining on December 2, 2001, in the Prior Bonds Debt Service Account created by the Prior Resolution; (3) any uncollected special assessments which were heretofore pledged for the payment of the Refunded Bonds and are herein pledged to the payment of the Bonds; (4) all investment earnings on funds in the Debt Service Account; (5) any taxes herein or hereafter levied for the payment of the Bonds; (6) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Debt Service Account. The amount of any surplus remaining in the Debt Service Account when the Bonds and interest thereon are paid shall be used consistent with Minnesota Statutes, Section 475.61, Subdivision 4. The moneys in the Debt Service Account shall be used solely to pay the principal of and interest on the Bonds or any other bonds hereafter issued and made payable from the Fund. No portion of the proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire higher yielding investments, except (1) for a reasonable temporary period until such proceeds are needed for the purpose for which the Bonds were issued, and (2) in addition to the above, in an amount not greater than the lesser of five percent (5 %) of the proceeds of the Bonds or $100,000. To this effect, any proceeds of the Bonds and any sums from time to time held in the Fund (or any other City account which will be used to pay principal and interest to become due on the Bonds) in excess of amounts which under the applicable federal arbitrage regulations may be invested without regard as to yield shall not be invested in excess of the applicable yield restrictions imposed by the arbitrage regulations on such investments after taking into account any applicable "temporary periods" or "minor portion" made available under the federal arbitrage regulations. In addition, the proceeds of the Bonds and money in the Fund shall not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section 149(b) of the Internal Revenue Code of 1986, as amended (the "Code "). 16. Prior Bonds; Security. Until retirement of the Prior Bonds, all provisions for the security thereof shall be observed by the City and all of its officers and agents. . 17. Special Assessments. The City has heretofore levied special assessments pursuant to the Prior Resolution, which have been pledged to the payment of the principal and interest on the Prior Bonds. All uncollected special assessments are now pledged to the payment of principal of and interest on the Bonds. The special assessments are such that if collected in full they, together with estimated collections of taxes herein pledged for the payment of the Bonds, will produce at least five percent (5 %) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. 18. Tax Levy. Coverage Test. Cancellation of Certain Tax Levies. To provide moneys for payment of the principal and interest on the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts: Year of Year of Tax Tax Levy Collection Amount 2002 2003 $62,000 2003 2004 62,000 2004 2005 62,000 The tax levies are such that if collected in full they, together with estimated collections of special assessments and other revenues herein pledged for the payment of the Bonds, will produce at least five percent (5 %) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. The tax levies shall be irrepealable so long as any of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3. Upon payment of the Prior Bonds, the uncollected taxes pledged in the Prior Resolution authorizing the issuance of the Prior Bonds, shall be canceled. 19. General Obligation Pledee. For the prompt and full payment of the principal and interest on the Bonds, as the same respectively become due, the full faith, credit and taxing powers of the City shall be and are hereby irrevocably pledged. If the balance in the Debt Service Account is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency shall be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein. 20. Redemption of Prior Bonds. The Prior Bonds which mature on and after December 1, 2002, shall be redeemed and prepaid on December 1, 2001, in accordance with the terms and conditions set forth in the Notice of Call for Redemption attached hereto as Exhibit A, which terms and conditions are hereby approved and incorporated herein by reference. • 21. Certificate of Resistration. The Administrator is hereby directed to file a certified copy of this resolution with the County Auditor of Washington County, Minnesota, together with such other information as the County Auditor shall require, and to obtain the County Auditor's Certificate that the Bonds have been entered in the County Auditor's Bond Register and that the tax levy required by law has been made. 22. Records and Certificates. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser, and to the attorneys approving the legality of the issuance of the Bonds, certified copies of all proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. 23. Negative Covenant as to Use of Bond Proceeds and Proiect. The City hereby covenants not to use the proceeds of the Bonds or to use the improvements financed by the Prior Bonds (the "Project "), or to cause or permit them to be used, or to enter into any deferred payment arrangements for the cost of the Project, in such a manner as to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code. • • 24. Tax - Exempt Status of the Bonds; Rebate. The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Bonds, including without limitation (1) requirements relating to temporary periods for investments, (2) limitations on amounts invested at a yield greater than the yield on the Bonds, and (3) the rebate of excess investment earnings to the United States if the Bonds (together with other obligations reasonably expected to be issued and outstanding at one time in this calendar year) exceed the small- issuer exception amount of $5,000,000. For purposes of qualifying for the exception to the federal arbitrage rebate requirements for governmental units issuing $5,000,000 or less of bonds, the City hereby finds, determines and declares that (1) the Bonds are issued by a governmental unit with general taxing powers, (2) no Bond is a private activity bond, (3) ninety -five percent (95 %) or more of the net proceeds of the Bonds are to be used for local governmental activities of the City (or of a governmental unit the jurisdiction of which is entirely within the jurisdiction of the City), and (4) the aggregate face amount of all tax - exempt bonds (other than private activity bonds) issued by the City (and all subordinate entities thereof, and all entities treated as one issuer with the City) during the calendar year in which the Bonds are issued and outstanding at one time is not reasonably expected to exceed $5,000,000, all within the meaning of Section 148(f)(4)(D) of the Code. Furthermore: (i) there shall not be taken into account for purposes of said $5,000,000 limit any bond issued to refund (other than to advance refund) any bond to the extent the amount of the refunding bond does not exceed the outstanding amount of the refunded bond; (ii) the aggregate face amount of the Bonds does not exceed $5,000,000; (iii) each of the Refunded Bonds was issued as part of an issue which was treated as meeting the rebate requirements by reason of the exception for governmental units issuing $5,000,000 or less of bonds; (iv) the average maturity of the Bonds does not exceed the average maturity of the Refunded Bonds; and (v) no part of the Bonds has a maturity date which is later than the date which is thirty (30) years after the dates the Refunded Bonds were issued. 25. Desiianation of Oualified Tax - Exempt Obli -aations; Issuance Limit. In order to qualify the Bonds as "qualified tax - exempt obligations" within the meaning of Section 265(b)(3) of the Code, the City hereby makes the following factual statements and representations: (a) the Bonds are issued after August 7, 1986; (b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; (c) the City hereby designates the Bonds as "qualified tax- exempt obligations" for purposes of Section 265(b)(3) of the Code; (d) the reasonably anticipated amount of tax - exempt obligations (other than private activity bonds, treating qualified 501(c)(3) bonds as not being private activity bonds) which will be issued by the City (and all entities treated as one issuer with the City, and all subordinate entities whose obligations are treated as issued by the City) during this calendar year 2001 will not exceed $10,000,000; (e) not more than $10,000,000 of obligations issued by the City during this calendar year 2001 have been designated for purposes of Section 265(b)(3) of the Code; (f) the aggregate face amount of the Bonds does not exceed $10,000,000; and (g) the Bonds are issued to refund, and not to "advance refund" the Prior Bonds within the meaning of Section 149(d)(5) of the Code, and shall not be taken into account under the $10,000,000 issuance limit to the extent the Bonds do not exceed the outstanding amount of the Prior Bonds. • The City shall use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designation made by this paragraph. 26. Defeasance. When all Bonds have been discharged as provided in this paragraph, all pledges, covenants and other rights granted by this resolution to the registered holders of the Bonds shall, to the extent permitted by law, cease. The City may discharge its obligations with respect to any Bonds which are due on any date by irrevocably depositing with the Bond 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 Bond Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. 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 a suitable banking institution qualified by law as an escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, Subdivision 8, bearing interest payable at such times and at such rates and maturing on such dates as shall be required, subject to sale and/or reinvestment, to pay all amounts to become due thereon to maturity or, if notice of redemption as herein required has been duly provided for, to such earlier redemption date. 27. Supplemental Resolution. The Prior Resolution authorizing the issuance of the Prior Bonds is hereby supplemented to the extent necessary to give effect to the provisions hereof. 28. Severabilitv. If any section, paragraph or provision of this Resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Resolution. 29. Headings. Headings in this Resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. Passed by the City Council of Oak Park Heights this 13 day of November, 2001 David Beaudet, Mayor ATTEST: Kimberly Kamper, Acting City Administrator EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF OAK PARK HEIGHTS, MINNESOTA HELD: November 13, 2001 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Oak Park Heights, Washington County, Minnesota, was duly held at the City Hall on November 13, 2001 at 7:00 p.m., for the purpose, in part, of authorizing the issuance and awarding the sale of $490,000 General Obligation Refunding Bonds of 2001. The following members were present: Mayor Beaudet and Council members Byrnes, McComber and Swenson and the following were absent: Council member Doerr Councilmember Swenson introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $490,000 GENERAL OBLIGATION REFUNDING BONDS OF 2001 AND PLEDGING FOR THE SECURITY THEREOF SPECIAL ASSESSMENTS AND AD VALOREM TAXES A. WHEREAS, the City Council of the City of Oak Park Heights, Minnesota (the "City ") hereby determines and declares that it is necessary and expedient to provide moneys for a current refunding of the City's General Obligation Improvement Bonds of 1995, dated July 1, 1995 (the "Prior Bonds ") which mature on and after December 1, 2002; and B. WHEREAS, $480,000 of the principal amount of the Prior Bonds which mature on and after December 1, 2002, are callable on December 1, 2001, at a price of par plus accrued interest as provided in the Resolution of the City Council, adopted on June 12, 1995, authorizing the issuance of the Prior Bonds (the "Prior Resolution "); and C. WHEREAS, the refunding of the Prior Bonds maturing on and after December 1, 2002 (the "Refunded Bonds "), is consistent with covenants made with the holders thereof, and is necessary and desirable for the reduction of debt service cost to the City; and D. WHEREAS, the City Council hereby determines and declares that it is necessary and expedient to issue $490,000 General Obligation Refunding Bonds of 2001, pursuant to Minnesota Statutes, Chapter 475, to provide moneys for a current refunding of the Refunded Bonds; and E. WHEREAS, it is in the best interests of the City that the Bonds be issued in book - entry form as hereinafter provided; and F. WHEREAS, no other obligations have been sold pursuant to a private sale within the last twelve (12) calendar months of the date hereof which when combined with this issue • 1345842v1 would exceed the $1,200,000 limitations on negotiated sales as required by Minnesota Statutes, Section 475.60, Subdivision 2(2). NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Oak Park Heights, Minnesota, as follows: 1. Acceptance of Offer. The offer of Juran & Moody, a division of Miller Johnson Steichen Kinnard, Inc. (the "Purchaser "), to purchase $490,000 General Obligation Refunding Bonds of 2001 of the City (the 'Bonds" or the "Refunding Bonds ", or individually a 'Bond "), at the rates of interest hereinafter set forth, and to pay therefor the sum of $482,650, plus interest accrued to settlement, is hereby accepted. 2. Terms of Bonds. (a) Title; Original Issue Date; Denominations; Maturities; and Term Bond Option. The Bonds shall be titled "General Obligation Refunding Bonds of 2001 ", shall be dated November 1, 2001, as the date of original issue and shall be issued forthwith on or after such date in fully registered form. The Bonds shall be numbered from R -1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity. The Bonds shall mature on December 1 in the years and amounts as follows: Year Amount • 2002 $130,000 2003 -2004 125,000 2005 110,000 All dates are inclusive. As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). (b) Book Entry Only System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository") will act as securities depository for the Bonds, and to this end: (i) The Bonds shall be initially issued and, so long as they remain in book entry form only (the 'Book Entry Only Period "), shall at all times be in the form of a separate single fully registered Bond for each maturity of the Bonds; and for purposes of complying with this requirement under paragraphs 5 and 10 Authorized Denominations for any Bond shall be deemed to be limited during the Book Entry Only Period to the outstanding principal amount of that Bond. (ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond register maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE & CO., as the nominee (it or any nominee of the existing or a successor Depository, the "Nominee "). 1345842v1 2 (iii) With respect to the Bonds neither the City nor the Bond Registrar shall have any responsibility or obligation to any broker, dealer, bank, or any other financial institution for which the Depository holds Bonds as securities depository (the "Participant ") or the person for which a Participant holds an interest in the Bonds shown on the books and records of the Participant (the "Beneficial Owner "). Without limiting the immediately preceding sentence, neither the City, nor the Bond Registrar, shall have any such responsibility or obligation with respect to (A) the accuracy of the records of the Depository, the Nominee or any Participant with respect to any ownership interest in the Bonds, or (B) the delivery to any Participant, any Owner or any other person, other than the Depository, of any notice with respect to the Bonds, including any notice of redemption, or (C) the payment to any Participant, any Beneficial Owner or any other person, other than the Depository, of any amount with respect to the principal of or premium, if any, or interest on the Bonds, or (D) the consent given or other action taken by the Depository as the Registered Holder of any Bonds (the "Holder "). For purposes of securing the vote or consent of any Holder under this Resolution, the City may, however, rely upon an omnibus proxy under which the Depository assigns its consenting or voting rights to certain Participants to whose accounts the Bonds are credited on the record date identified in a listing attached to the omnibus proxy. (iv) The City and the Bond Registrar may treat as and deem the Depository to be the absolute owner of the Bonds for the purpose of payment of the principal of and premium, if any, and interest on the Bonds, for the purpose of giving notices of redemption and other matters with respect to the Bonds, for the purpose of obtaining any • consent or other action to be taken by Holders for the purpose of registering transfers with respect to such Bonds, and for all purpose whatsoever. The Bond Registrar, as paying agent hereunder, shall pay all principal of and premium, if any, and interest on the Bonds only to the Holder or the Holders of the Bonds as shown on the bond register, 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 premium, if any, and interest on the Bonds to the extent of the sum or sums so paid. (v) Upon delivery by the Depository to the Bond Registrar of written notice to the effect that the Depository has determined to substitute a new Nominee in place of the existing Nominee, and subject to the transfer provisions in paragraph 10 hereof, references to the Nominee hereunder shall refer to such new Nominee. (vi) So long as any Bond is registered in the name of a Nominee, all payments with respect to the principal of and premium, if any, and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, by the Bond Registrar or City, as the case may be, to the Depository as provided in the Letter of Representations to the Depository required by the Depository as a condition to its acting as book -entry Depository for the Bonds (said Letter of Representations, together with any replacement thereof or amendment or substitute thereto, including any standard procedures or policies referenced therein or applicable thereto respecting the procedures and other matters relating to the Depository's role as book -entry Depository for the Bonds, collectively hereinafter referred to as the "Letter of Representations "). 1345842v1 3 (vii) All transfers of beneficial ownership interests in each Bond issued in book -entry form shall be limited in principal amount to Authorized Denominations and shall be effected by procedures by the Depository with the Participants for recording and transferring the ownership of beneficial interests in such Bonds. (viii) In connection with any notice or other communication to be provided to the Holders pursuant to this Resolution by the City or Bond Registrar with respect to any consent or other action to be taken by Holders, the Depository shall consider the date of receipt of notice requesting such consent or other action as the record date for such consent or other action; provided, that the City or the Bond Registrar may establish a special record date for such consent or other action. The City or the Bond Registrar shall, to the extent possible, give the Depository notice of such special record date not less than 15 calendar days in advance of such special record date to the extent possible. (ix) Any successor Bond Registrar in its written acceptance of its duties under this Resolution and any paying agency/bond registrar agreement, shall agree to take any actions necessary from time to time to comply with the requirements of the Letter of Representations. (x) In the case of a partial prepayment of a Bond, the Holder may, in lieu of surrendering the Bonds for a Bond of a lesser denomination as provided in paragraph 5 hereof, make a notation of the reduction in principal amount on the panel provided on the Bond stating the amount so redeemed. • (c) Termination of Book -Entry Only System. Discontinuance of a particular Depository's services and termination of the book -entry only system may be effected as follows: (i) The Depository may determine to discontinue providing its services with respect to the Bonds at any time by giving written notice to the City and discharging its responsibilities with respect thereto under applicable law. The City may terminate the services of the Depository with respect to the Bond if it determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book -entry transfers through the Depository is not in the best interests of the City or the Beneficial Owners. (ii) Upon termination of the services of the Depository as provided in the preceding paragraph, and if no substitute securities depository is willing to undertake the functions of the Depository hereunder can be found which, in the opinion of the City, is willing and able to assume such functions upon reasonable or customary terms, or if the City determines that it is in the best interests of the City or the Beneficial Owners of the Bond that the Beneficial Owners be able to obtain certificates for the Bonds, the Bonds shall no longer be registered as being registered in the bond register in the name of the Nominee, but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with paragraph 11 hereof. To the extent that the Beneficial Owners are designated as the transferee by the Holders, in accordance with paragraph 10 hereof, the Bonds will be delivered to the Beneficial Owners. i 1345842v1 4 (iii) Nothing in this subparagraph (c) shall limit or restrict the provisions of paragraph 10 hereof. (d) Letter of Representations. The provisions in the Letter of Representations are incorporated herein by reference and made a part of the resolution, and if and to the extent any such provisions are inconsistent with the other provisions of this resolution, the provisions in the Letter of Representations shall control. 3. Purpose; Refunding Findings. The Bonds shall provide funds for a current refunding of the Refunded Bonds (the "Refunding "). It is hereby found, determined and declared that the Refunding is pursuant to Minnesota Statutes, Section 475.67, and shall result in a reduction of debt service cost to the City. 4. Interest. The Bonds shall bear interest payable semiannually on June 1 and December 1 of each year (each, an "Interest Payment Date "), commencing June 1, 2002, calculated on the basis of a 360 -day year of twelve 30 -day months, at the respective rates per annum set forth opposite the maturity years as follows: Maturity Interest Maturity Interest Year Rate Year Rate 2002 2.50% 2004 3.00% 2003 2.75 2005 3.25 • 5. No Redemption. The Bonds shall not be subject to redemption and prepayment prior to their stated maturity dates. 6. Bond Registrar. U.S. Bank Trust National Association in St. Paul, Minnesota, is appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond Registrar "), and shall do so unless and until a successor Bond Registrar is duly appointed, all pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. The Bond Registrar shall also serve as paying agent unless and until a successor paying agent is duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 12 of this resolution. 7. Form of Bond. The Bonds, together with the Bond Registrar's Certificate of Authentication, the form of Assignment and the registration information thereon, shall be in substantially the following form: • 1345842v1 5 UNITED STATES OF AMERICA STATE OF MINNESOTA WASHINGTON COUNTY CITY OF OAK PARK HEIGHTS R- $ GENERAL OBLIGATION REFUNDING BOND OF 2001 INTEREST MATURITY DATE OF RATE DATE ORIGINAL ISSUE, CUSIP December 1, November 1, 2001 REGISTERED OWNER: PRINCIPAL AMOUNT The City of Oak Park Heights, Washington County, Minnesota (the "Issuer "), certifies that it is indebted and for value received promises to pay to the registered owner specified above, or registered assigns, in the manner hereinafter set forth, the principal amount specified above, on the maturity date specified above, without option of prior redemption, and to pay interest thereon semiannually on June 1 and December 1 of each year (each, an "Interest Payment Date "), commencing June 1, 2002, at the rate per annum specified above (calculated on the basis of a 360 -day year of twelve 30 -day months) until the principal sum is paid or has been provided for. This Bond will bear interest from the most recent Interest Payment Date to which interest has been paid or, if no interest has been paid, from the date of original issue hereof. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of U.S. Bank Trust National Association in St. Paul, Minnesota (the 'Bond Registrar "), acting as paying agent, or any successor paying agent duly appointed by the Issuer. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the person in whose name this Bond is registered (the "Holder" or "Bondholder ") on the registration books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date "). Any interest not so timely paid shall cease to be payable to the person who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who is the Holder hereof at the close of business on a date (the "Special Record Date ") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given to Bondholders not less than ten days prior to the Special Record Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America. So long as this Bond is registered in the name of the Depository or its Nominee as provided in the Resolution hereinafter described, and as those terms are defined therein, payment of principal of, premium, if any, and interest on this Bond and notice with respect thereto shall be made as provided in Letter of Representations, as defined in the Resolution, and surrender of this • Bond shall not be required for payment of the redemption price upon a partial redemption of this 13458420 6 Bond. Until termination of the book -entry only system pursuant to the Resolution, Bonds may only be registered in the name of the Depository or its Nominee. No Redemption. The Bonds of this issue (the "Bonds ") are not subject to redemption and prepayment prior to their stated maturity dates. Issuance; Purpose; General Obligation. This Bond is one of an issue in the total principal amount of $490,000, all of like date of original issue and tenor, except as to number, maturity, interest rate and denomination, been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by the City Council on November 13, 2001 (the "Resolution "), for the purpose of providing funds for a current refunding of the Issuer's General Obligation Improvement Bonds of 1995, dated July 1, 1995, which mature on and after December 1, 2002. This Bond is payable out of the Debt Service Account of the Issuer's General Obligation Refunding Bonds of 2001 Fund. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, and interest when the same become due, the full faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. Denominations; Exchange; Resolution. The Bonds are issuable solely in fully registered form in the denominations of $5,000 and integral multiples thereof of a single maturity and are exchangeable for fully registered Bonds of other authorized denominations in equal aggregate principal amounts at the principal office of the Bond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal office of the Bond Registrar. Transfer. This Bond is transferable by the Holder in person or by the Holder's attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Bond Registrar, all subject to the terms and conditions provided in the Resolution and to reasonable regulations of the Issuer contained in any agreement with the Bond Registrar. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of the transferee (but not registered in blank or to "bearer" or similar designation), of an authorized denomination or denominations, in aggregate principal amount equal to the principal amount of this Bond, of the same maturity and bearing interest at the same rate. Fees upon Transfer or Loss. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of this Bond and any legal or unusual costs regarding transfers and lost Bonds. Treatment of Registered Owners. The Issuer and Bond Registrar may treat the person in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided (except as otherwise provided herein with respect to the Record Date) and for all other purposes, whether or not this Bond shall be overdue, and neither the Issuer nor the Bond Registrar shall be affected by notice to the contrary. 1345842v1 7 Authentication. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security unless the Certificate of Authentication hereon shall have been executed by the Bond Registrar. Qualified Tax- Exempt Obligation. This Bond has been designated by the Issuer as a "qualified tax - exempt obligation" for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and to be performed, precedent to and in the issuance of this Bond, have been done, have happened and have been performed, in regular and due form, time and manner as required by law, and that this Bond, together with all other debts of the Issuer outstanding on the date of original issue hereof and the date of its issuance and delivery to the original purchaser, does not exceed any constitutional or statutory limitation of indebtedness. IN WITNESS WHEREOF, the City of Oak Park Heights, Washington County, Minnesota, by its City Council has caused this Bond to be executed on its behalf by the facsimile signatures of its Mayor and its City Administrator. Date of Registration: Registrable by: U.S. BANK TRUST NATIONAL ASSOCIATION Payable at: U.S. BANK TRUST NATIONAL ASSOCIATION BOND REGISTRAR'S CERTIFICATE OF CITY OF OAK PARK HEIGHTS AUTHENTICATION WASHINGTON COUNTY, MINNESOTA This Bond is one of the Bonds described in the Resolution /s/ Facsimile mentioned within. Mayor U.S. BANK TRUST NATIONAL /s/ Facsimile ASSOCIATION Administrator St. Paul, Minnesota Bond Registrar By Authorized Signature 1345842v1 8 J ABBREVIATIONS 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 applicable laws or regulations: TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right of survivorship and not as tenants in common UTMA - as custodian for (Cust) (Minor) under the , Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the above list. ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto the within Bond and does hereby irrevocably constitute and appoint attorney to transfer the Bond on the books kept for the registration thereof, 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 Signature Guaranteed: alteration or any change whatever. Signature(s) must be guaranteed by a national bank or trust company or by a brokerage firm having a membership in one of the major stock exchanges or any other "Eligible Guarantor Institution" as defined in 17 CFR 240.17 Ad- 15(a)(2). The Bond Registrar will not effect transfer of this Bond unless the information concerning the transferee requested below is provided. Name and Address: (Include information for all joint owners if the Bond is held by joint account.) 1345842v1 9 8. Execution; Temporary Bonds. The Bonds shall be printed (or, at the request of the Purchaser, typewritten) shall be executed on behalf of the City by the signatures of its Mayor and Administrator and be sealed with the seal of the City; provided, however, that the seal of the City may be a printed (or, at the request of the Purchaser, photocopied) facsimile; and provided further that both of such signatures may be printed (or, at the request of the Purchaser, photocopied) facsimiles and the corporate seal may be omitted on the Bonds as permitted by law. In the event of disability or resignation or other absence of either officer, the Bonds may be signed by the manual or facsimile signature of an officer who may act on behalf of the absent or disabled officer. In case either officer whose signature or facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, the signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if the officer had remained in office until delivery. The City may elect to deliver, in lieu of printed definitive bonds, one or more typewritten temporary bonds in substantially the form set forth above, with such changes as may be necessary to reflect more than one maturity in a single temporary bond. The temporary bonds may be executed with photocopied facsimile signatures of the Mayor and Administrator. Such temporary bonds shall, upon the printing of the definitive bonds and the execution thereof, be exchanged therefor and canceled. 9. Authentication. No Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this resolution unless a Certificate of Authentication on the Bond, substantially in the form hereinabove set forth, shall have been duly executed by an authorized representative of the Bond Registrar. Certificates of Authentication on different Bonds need not be signed by the same person. The Bond Registrar shall authenticate the signatures of officers of the City on each Bond by execution of the Certificate of Authentication on the Bond and, by inserting as the date of registration in the space provided, the date on which the Bond is authenticated, except that for purposes of delivering the original Bonds to the Purchaser, the Bond Registrar shall insert as a date of registration the date of original issue, which date is November 1, 2001. The Certificate of Authentication so executed on each Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. 10. Registration; Transfer; Exchange. The City will cause to be kept at the principal office of the Bond Registrar a bond register in which, subject to such reasonable regulations as the Bond Registrar may prescribe, the Bond Registrar shall provide for the registration of Bonds and the registration of transfers of Bonds entitled to be registered or transferred as herein provided. Upon surrender for transfer of any Bond at the principal office of the Bond Registrar, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration (as provided in paragraph 9) of, and deliver, in the name of the designated transferee or transferees, one or more new Bonds of any authorized denomination or denominations of a like aggregate principal amount, having the same stated maturity and interest rate, as requested by the transferor; provided, however, that no Bond may be registered in blank or in the name of "bearer" or similar designation. At the option of the Holder, Bonds may be exchanged for Bonds of any authorized denomination or denominations of a like aggregate principal amount and stated maturity, upon 1345842v1 10 surrender of the Bonds to be exchanged at the principal office of the Bond Registrar. Whenever any Bonds are so surrendered for exchange, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration of, and deliver the Bonds which the Holder making the exchange is entitled to receive. All Bonds surrendered upon any exchange or transfer provided for in this resolution shall be promptly cancelled by the Bond Registrar and thereafter disposed of as directed by the City. All Bonds delivered in exchange for or upon transfer of Bonds shall be valid general obligations of the City evidencing the same debt, and entitled to the same benefits under this resolution, as the Bonds surrendered for such exchange or transfer. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the Bond Registrar, duly executed by the Holder thereof or his, her or its attorney duly authorized in writing. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of any Bond and any legal or unusual costs regarding transfers and lost Bonds. Transfers shall also be subject to reasonable regulations of the City contained in any agreement with the Bond Registrar, including regulations which permit the Bond Registrar to close its transfer books between record dates and payment dates. • 11. Rights Upon Transfer or Exchange. Each Bond delivered upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond. 12. Interest Payment; Record Date. Interest on any Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond is registered (the "Holder ") on the registration books of the City maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth (15th) day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date "). Any such interest not so timely paid shall cease to be payable to the person who is the Holder thereof as of the Regular Record Date, and shall be payable to the person who is the Holder thereof at the close of business on a date (the "Special Record Date ") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given by the Bond Registrar to the Holders not less than ten (10) days prior to the Special Record Date. 13. Treatment of Registered Owner. The City and Bond Registrar may treat the person in whose name any Bond is registered as the owner of such Bond for the purpose of receiving payment of principal of and premium, if any, and interest (subject to the payment provisions in paragraph 12 above) on, such Bond and for all other purposes whatsoever whether or not such Bond shall be overdue, and neither the City nor the Bond Registrar shall be affected by notice to the contrary. • 1345842v1 1 1 14. Delivery; Application of Proceeds. The Bonds when so prepared and executed shall be delivered by the Administrator to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obliged to see to the proper application thereof. 15. Fund and Accounts. For the convenience and proper administration of the moneys to be borrowed and repaid on the Bonds, and to make adequate and specific security to the Purchaser and holders from time to time of the Bonds, there is hereby created a special fund to be designated the "General Obligation Refunding Bonds of 2001 Fund" (the "Fund ") to be administered and maintained by the Administrator as a bookkeeping account separate and apart from all other funds maintained in the official financial records of the City. The Fund shall be maintained in the manner herein specified until all of the Bonds herein authorized and the interest thereon shall have been fully paid. There shall be maintained and created in the fund the "Payment Account" and a "Debt Service Account ". (i) Payment Account. The proceeds of the Bonds, less accrued interest shall be deposited in the Payment Account. On or prior to December 1, 2001, the Administrator shall transfer $480,000 of the proceeds of the Bonds from the Payment Account to the paying agent for the Refunded Bonds, which sum is sufficient, together with other funds on deposit in debt service fund for the Refunded Bonds, to pay the principal and interest due on the Refunded Bonds due on December 1, 2002, including the principal of the Refunded Bonds called for redemption on that date. The remainder of the monies in the Payment Account shall be used to pay the costs of issuance of the Bonds. Any monies remaining in the Payment Account after payment of all costs of • issuance and payment of the Refunded Bonds shall be transferred to the Debt Service Account. (ii) Debt Service Account. To the Debt Service Account there is hereby pledged and irrevocable appropriated and there shall be credited: (1) accrued interest; (2) any balance remaining on December 2, 2001, in the Prior Bonds Debt Service Account created by the Prior Resolution; (3) any uncollected special assessments which were heretofore pledged for the payment of the Refunded Bonds and are herein pledged to the payment of the Bonds; (4) all investment earnings on funds in the Debt Service Account; (5) any taxes herein or hereafter levied for the payment of the Bonds; (6) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Debt Service Account. The amount of any surplus remaining in the Debt Service Account when the Bonds and interest thereon are paid shall be used consistent with Minnesota Statutes, Section 475.6 1, Subdivision 4. The moneys in the Debt Service Account shall be used solely to pay the principal of and interest on the Bonds or any other bonds hereafter issued and made payable from the Fund. No portion of the proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire higher yielding investments, except (1) for a reasonable temporary period until such proceeds are needed for the purpose for which the Bonds were issued, and (2) in addition to the above, in an amount not greater than the lesser of five percent (5 %) of the proceeds of the Bonds or $100,000. To this effect, any proceeds of the Bonds and any sums from time to time held in the Fund (or any other City account which will be used to pay principal and interest to become due on the Bonds) in 1345842v1 12 excess of amounts which under the applicable federal arbitrage regulations may be invested without regard as to yield shall not be invested in excess of the applicable yield restrictions imposed by the arbitrage regulations on such investments after taking into account any applicable "temporary periods" or "minor portion" made available under the federal arbitrage regulations. In addition, the proceeds of the Bonds and money in the Fund shall not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section 149(b) of the Internal Revenue Code of 1986, as amended (the "Code "). 16. Prior Bonds; Security. Until retirement of the Prior Bonds, all provisions for the security thereof shall be observed by the City and all of its officers and agents. 17. Special Assessments. The City has heretofore levied special assessments pursuant to the Prior Resolution, which have been pledged to the payment of the principal and interest on the Prior Bonds. All uncollected special assessments are now pledged to the payment of principal of and interest on the Bonds. The special assessments are such that if collected in full they, together with estimated collections of taxes herein pledged for the payment of the Bonds, will produce at least five percent (5 %) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. 18. Tax Levy; Coverage Test; Cancellation of Certain Tax Levies. To provide moneys for payment of the principal and interest on the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts: Year of Year of Tax Tax Levy Collection Amount 2002 2003 $62,000 2003 2004 62,000 2004 2005 62,000 The tax levies are such that if collected in full they, together with estimated collections of special assessments and other revenues herein pledged for the payment of the Bonds, will produce at least five percent (5 %) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. The tax levies shall be irrepealable so long as any of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3. Upon payment of the Prior Bonds, the uncollected taxes pledged in the Prior Resolution authorizing the issuance of the Prior Bonds, shall be canceled. 19. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Bonds, as the same respectively become due, the full faith, credit and taxing powers of the City shall be and are hereby irrevocably pledged. If the balance in the Debt 1345842v1 13 Service Account is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency shall be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein. 20. Redemption of Prior Bonds. The Prior Bonds which mature on and after December 1, 2002, shall be redeemed and prepaid on December 1, 2001, in accordance with the terms and conditions set forth in the Notice of Call for Redemption attached hereto as Exhibit A, which terms and conditions are hereby approved and incorporated herein by reference. 21. Certificate of Registration. The Administrator is hereby directed to file a certified copy of this resolution with the County Auditor of Washington County, Minnesota, together with such other information as the County Auditor shall require, and to obtain the County Auditor's Certificate that the Bonds have been entered in the County Auditor's Bond Register and that the tax levy required by law has been made. 22. Records and Certificates. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser, and to the attorneys approving the legality of the issuance of the Bonds, certified copies of all proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any • heretofore furnished, shall be deemed representations of the City as to the facts recited therein. 23. Negative Covenant as to Use of Bond Proceeds and Project,. The City hereby covenants not to use the proceeds of the Bonds or to use the improvements financed by the Prior Bonds (the "Project "), or to cause or permit them to be used, or to enter into any deferred payment arrangements for the cost of the Project, in such a manner as to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code. 24. Tax- Exempt Status of the Bonds; Rebate. The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Bonds, including without limitation (1) requirements relating to temporary periods for investments, (2) limitations on amounts invested at a yield greater than the yield on the Bonds, and (3) the rebate of excess investment earnings to the United States if the Bonds (together with other obligations reasonably expected to be issued and outstanding at one time in this calendar year) exceed the small- issuer exception amount of $5,000,000. For purposes of qualifying for the exception to the federal arbitrage rebate requirements for governmental units issuing $5,000,000 or less of bonds, the City hereby finds, determines and declares that (1) the Bonds are issued by a governmental unit with general taxing powers, (2) no Bond is a private activity bond, (3) ninety -five percent (95 %) or more of the net proceeds of the Bonds are to be used for local governmental activities of the City (or of a governmental unit the jurisdiction of which is entirely within the jurisdiction of the City), and (4) the aggregate face amount of all tax - exempt bonds (other than private activity bonds) issued by the City (and all 1345842v1 14 • subordinate entities thereof, and all entities treated as one issuer with the City) during the calendar year in which the Bonds are issued and outstanding at one time is not reasonably expected to exceed $5,000,000, all within the meaning of Section 148(f)(4)(D) of the Code. Furthermore: (i) there shall not be taken into account for purposes of said $5,000,000 limit any bond issued to refund (other than to advance refund) any bond to the extent the amount of the refunding bond does not exceed the outstanding amount of the refunded bond; (ii) the aggregate face amount of the Bonds does not exceed $5,000,000; (iii) each of the Refunded Bonds was issued as part of an issue which was treated as meeting the rebate requirements by reason of the exception for governmental units issuing $5,000,000 or less of bonds; (iv) the average maturity of the Bonds does not exceed the average maturity of the Refunded Bonds; and (v) no part of the Bonds has a maturity date which is later than the date which is thirty (30) years after the dates the Refunded Bonds were issued. • 25. Designation of Qualified Tax -Exemm Obligations; Issuance Limit. In order to qualify the Bonds as "qualified tax- exempt obligations" within the meaning of Section 265(b)(3) of the Code, the City hereby makes the following factual statements and representations: (a) the Bonds are issued after August 7, 1986; (b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; (c) the City hereby designates the Bonds as "qualified tax- exempt obligations" for purposes of Section 265(b)(3) of the Code; (d) the reasonably anticipated amount of tax- exempt obligations (other than private activity bonds, treating qualified 501(c)(3) bonds as not being private activity bonds) which will be issued by the City (and all entities treated as one issuer with the City, and all subordinate entities whose obligations are treated as issued by the City) during this calendar year 2001 will not exceed $10,000,000; (e) not more than $10,000,000 of obligations issued by the City during this calendar year 2001 have been designated for purposes of Section 265(b)(3) of the Code; (f) the aggregate face amount of the Bonds does not exceed $10,000,000; and (g) the Bonds are issued to refund, and not to "advance refund" the Prior Bonds within the meaning of Section 149(d)(5) of the Code, and shall not be taken into 1345842v1 15 account under the $10,000,000 issuance limit to the extent the Bonds do not exceed the outstanding amount of the Prior Bonds. The City shall use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designation made by this paragraph. 26. Defeasance. When all Bonds have been discharged as provided in this paragraph, all pledges, covenants and other rights granted by this resolution to the registered holders of the Bonds shall, to the extent permitted by law, cease. The City may discharge its obligations with respect to any Bonds which are due on any date by irrevocably depositing with the Bond 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 Bond Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. 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 a suitable banking institution qualified by law as an escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, Subdivision 8, bearing interest payable at such times and at such rates and maturing on such dates as shall be required, subject to sale and/or reinvestment, to pay all amounts to become due thereon to maturity or, if notice of redemption as herein required has been duly provided for, to such earlier redemption date. 27. Supplemental Resolution. The Prior Resolution authorizing the issuance of the Prior Bonds is hereby supplemented to the extent necessary to give effect to the provisions hereof. 28. Severability. If any section, paragraph or provision of this Resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Resolution. 29. Headings. Headings in this Resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing Resolution was duly seconded by Councilmember McComber and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof. Mayor Beaudet and Council members Byrnes, McComber and Swenson and the following voted against the same: None. Whereupon the Resolution was declared duly passed and adopted. 1345842v1 16 STATE OF MINNESOTA COUNTY OF WASHINGTON CITY OF OAK PARK HEIGHTS I, the undersigned, being the duly qualified and acting Administrator of the City of Oak Park Heights, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council duly called and held on the date therein indicated, insofar as such minutes relate to providing for the issuance and sale of $490,000 General Obligation Refunding Bonds of 2001. WITNESS my hand on November 13, 2001. Administrator 1345842v1 17 EXHIBIT A NOTICE OF CALL FOR REDEMPTION GENERAL OBLIGATION IMPROVEMENT BONDS OF 1995 CITY OF OAK PARK HEIGHTS, WASHINGTON COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that by order of the City Council of the City of Oak Park Heights, Washington County, Minnesota, there have been called for redemption and prepayment on December 1, 2001 those outstanding bonds of the City designated as General Obligation Improvement Bonds of 1995, dated as of July 1, 1995, having stated maturity dates in the years 2002 through 2005, inclusive, and totaling $480,000 in principal in principal amount and having CUSIP numbers listed below: Year CUSIP Number* 2002 671562 -EY -8 2003 671562 -EZ -5 2004 671562 -FA -9 2005 671562 -FB -7 The bonds are being called at a price of par plus accrued interest to December 1, 2001, on which date all interest on the bonds will cease to accrue. Holders of the bonds hereby called for redemption are requested to present their bonds for payment, at U.S. Bank Trust National Association (successor to First Trust National Association), Attention: Paying Agent Services, 180 East Fifth Street, St. Paul, Minnesota 55101. *The City shall not be responsible for the selection of or use of the CUSIP numbers, nor is any representation made as to their correctness indicated in the notice. They are included solely for the convenience of the holders. Dated: November 13, 2001 BY ORDER OF THE CITY COUNCIL /s/ Thomas M. Melena, Administrator Important Notice: Under the Interest and Dividend Compliance Act of 1983, 31 % will be withheld if tax identification is not properly certified. Additional information may be obtained from: JURAN & MOODY, A DIVISION OF MILLER JOHNSON STEICHEN KINNARD, INC. 5500 Wayzata Boulevard, Suite 800 Minneapolis, Minnesota 55416 Telephone No.: 763 -542 -6000 Attn: Lori A. Giampaolo, Public Finance Department. 1345842v1 RESOLUTION 01 -11 -53 CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOULUTION OF SUPPORT FOR A NEW HIGHWAY 36 SUBAREA TRAFFIC STUDY FOR THE CITY OF OAK PARK HEIGHTS Whereas, Highway 36 passes through the City of Oak Park Heights and is vital to the City's transportation system and economic vitality; and, Whereas, Highway 36 passes through the adjoining cities of Lake Elmo, Grant, and Stillwater and is a vital link to the transportation systems and economic vitality of these communities; and, Whereas, the city of Oak Park Heights is contributing citizen tax dollars in support of the Highway 36 Subarea Traffic Study; and Whereas, traffic flow on Highway 36 directly impacts the businesses and neighborhoods of the City of Oak Park Heights; and, Whereas, the City Council of the City of Oak Park Heights has received the following traffic studies for the Minnesota Department of Transportation. 1. State Trunk Highway 36 Area Traffic Study (February 24, 1992) 2. TH 36 River crossing project (TA -M406) from George M. Cepress (July 19, 1993) 3. Supplemental Traffic Analysis Report for the TH 36 /STH 64 New St. Croix River Crossing Final Environmental Impact Statement (January 1995) 4. Braun Consensus Alternative (October 1998) 5. Minnesota Department of Transportation Highway36 Interchange Concept (July 9, 1999 -Adam Josephson) 6. Minnesota Department of Transportation Highway 36 Intersection Level of Service (July 10, 1999 -Adam Josephson) 7. Minnesota Department of Transportation TH 36 Corridor Management Plan (May 2001) NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Oak Park Heights that all previous traffic studies and information received by the City of Oak Park heights be reconciled with the Highway 36 Subarea Traffic Study; and, FURTHERMORE, be it resolved that the members of the Highway 36 Subarea Traffic Study Committee understand previous recommendations, and the different conclusion of each traffic management report, and RESOLUTION 01 -11- 54 a • CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION APPROVING THE APPLICATION OF VFW POST 323 FOR GAMBLING CONTROL BOARD PREMISES PERMIT FOR OPERATION OF GAMBLING ACTIVITIES WITHIN THE CITY OF OAK PARK HEIGHTS WHEREAS, the VFW Post 323, has applied with the State of Minnesota Gambling Control Board for a Premises Permit Renewal to continue to operate a gambling activity at the site of VFW Post 323, 5880 Omaha Avenue North, within the City of Oak Park Heights; and WHEREAS, The City of Oak Park Heights has reviewed the application of the VFW Post 323 and finds that its purposes meet the necessary community standards; and WHEREAS, the City of Oak Park Heights has solicited the input of the public and there have been no objections to the granting of the renewal application for the premises permit as applied for by VFW Post 323 with the State of Minnesota Gambling Control Board. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF OAK PARK HEIGHTS AS FOLLOWS: That the application of VFW Post 323 with the State of Minnesota Gambling Control Board to operate gambling activities on the site of the VFW Post 323 located at 5880 Omaha Avenue North within the City of Oak Park Heights through March 31, 2002 and the same are hereby approved. Passed by the City Council of Oak Park Heights this 27th day of November, 2001. I &BeLdet ATTEST: Mayor Kimberly amper Acting Administrator RESOLUTION NO. 0 1 CITY COUNCIL CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION ESTABLISHING FINDINGS OF FACT AND RESOLUTION OF THE CITY COUNCIL THAT THE REQUEST BY FIRST STUDENT, INC. FOR AN AMENDED CONDITIONAL USE PERMIT TO ALLOW LOCATION OF AN 8,000 GALLON DIESEL ABOVE- GROUND STORAGE TANK AT 5302 STAGECOACH TRAIL BE DENIED WHEREAS, the City of Oak Park Heights has received a request for an amended conditional use permit (CUP) to address expansion of the First Student, Inc. facility to include Building D, use of the existing wash bay for vehicle washing, and the installation of an 8,000 gallon diesel above - ground storage tank to allow for on -site fueling of buses at their facility located at 5302 Stagecoach Trail; and after having conducted a public hearing relative thereto, the Planning Commission of Oak Park Heights recommended that the request be approved with conditions. The City Council makes the following findings of fact and resolution: 1. The real property affected by said application is legally described as follows, to wit: SEE ATTACHMENT A; and 2. The applicant has submitted an application and documentation to the Community Development Department consisting of the following items: SEE ATTACHMENT B; and 3. The subject site is zoned I, Industrial District in which open and outdoor storage is a listed conditional use. Any expansion or major change to an existing CUP requires an amended CUP; and 4. The CUP for First Student, Inc. was granted on May 25, 1999 to allow the outdoor storage of buses; and 5. The City staff prepared a memorandum dated November 1, 2001 reviewing the request for amended CUP approval; and 6. Said report recommended the approval of the amended CUP in that the expansion and addition of a fuel tank is a reasonable expansion of the business, the improvements made as a result of the original CUP approval have significantly increased the screening for surrounding residential properties, and the amendments to the CUP will not result in a major intensification of the use on site. The amended CUP was recommended by City staff subject to the fulfillment of various conditions; and 7. The Planning Commission held a public hearing at their November 8, 2001 meeting, took comments from the applicants and public, closed the public hearing, and recommended the amended CUP be approved subject to the fulfillment of conditions. 8. That the applicant has not prepared a specific fuel spillage recovery plan to address the issue of fuel spillage that may occur from the location of an above - ground tank on the First Student, Inc. site. 9. That the site is adjacent to the Perro Creek pond and wetland which is a sensitive wetland and stormwater ponding area within the City of Oak Park Heights, with the property also being adjacent to residential neighborhoods and a property owner located immediately to the south of the subject property which is served by a well and septic system. 10. That inasmuch as the applicant has not addressed a fuel spillage recovery plan in particular and does not have established written protocol relative to fuel spills on the site, the applicant is not prepared to deal with • • contamination as would result from fuel spills by way of use of the proposed above - ground fuel storage tank and neighboring private wells as well as the adjacent wetland are endangered. 11. That the applicant has failed to provide a specific fuel containment plan in the advent of an accident or spillage within the area so as to provide protection for the Perro Creek wetland and adjacent property owners with private wells located to the south. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF OAK PARK HEIGHTS AS FOLLOWS: 1. That the City Council of the City of Oak Park Heights does hereby deny the application by First Student, Inc. for an amended CUP seeking the installation of an 8,000 gallon diesel above - ground storage tank to allow for on -site fueling of buses at their facility located at 5302 Stagecoach Trail. • • Approved by the City Council of the City of Oak Park Heights this aL�f day of November 2001. OavidMeaudet, or ATTEST: Kimberly K er, Ac' Administrator • Attachment A DESCRIPTION FROM COMMONWEALTH INSURANCE COMPANY POLICY NO. 36537C SCHEDULE A -3 -A PARCEL 1: All that part of the NE 114 of the SW 114 of Section 3, Township 29, Range 20, contained within the following bounds, to —wit: Beginning at a point 30 feet West of a stake which is 80 rods South of the center of said Section 3, and running thence West 24 rods ana 3 feet; thence North 21 rods and 9.9 feet; thence East 24 rods and feet; thence South 21 rods and 9.9 feet to the place of' beginning, excepting therefrom the South 150 feet thereof. PARCEL 2: The North 963.6 feet of the East 429 feet of the NE 114 of the SW 114 o) Section 3, Township 29 North, Range 20 West, excepting the following two trac ts: 1.) The North 232 feet of the East 1 6 5 5 feet thereof, and 2.) The South 252 feet of the North 494 feet of the East 233 feet thereof SCHEDULE B Subject to Washington County Highway Right —of —Way Plat No. 97 delineating the right —of —way of C.S.A.H. No. 21. Description Note: The west line of the east 429 feet of the NE1 14 of the SW1 14 as referred to in the legal description was interpreted to be as measured along the north and south lines of this parcel and not as measured at right angle to he east line of said NE1 14 of the SW1 14, based on other surveyors and descrip tions. Attachment B tea• DEVELOPMENT APPLICATION CHECKLIST ITEMS SUBMI • Development Application and Fee. • Authorization from owner to proceed as applicant. • Parcel search with mailing labels from Washington County. • Property Tax Statement. • Aboveground Storage Tank Description • Site and Grading Plans- Midwest Land Surveyors. • MPCA Above Ground Storage Tank Application • SPCC Plan — Strata Environmental • First Student Environmental Management Overview • First Student Environmental Policy and Controls - Reference Material - Hazardous Communication and Employee Training - Regulated Substance Storage and Control Procedures. - First Student Emergency Spill Response Plan • CITY OF OAK PARK HEIGHTS RESOLUTION 01- 11 - A RESOLUTION APPROVING PROPOSED ANNUAL LIQUOR, TOBACCO, AND AMUSEMENT LICENSES WHEREAS, the City Council for the City of Oak Park Heights has received applications for the year 2002 liquor, tobacco, amusement, and bingo licenses from businesses located within the City limits. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Oak Park Heights that the following licenses (See Exhibit A) are hereby approved. Passed by the City Council of Oak Park Heights this 27th day of • N 2001. a or Attest: Acting City Administrator • EXHIBIT A • CITY OF OAK PARK HEIGHTS 2002 LICENSES Off -Sale Liquor Licenses Cellars Wines & Spirits of O.P.H., Inc. dba Cellars Wines & Spirits Timark Inc. dba Millroad Inn On -Sale Liquor Licenses VFW 323 dba Greeder -Hinds Comfort Post Apple American Ltd Ptsp of MN dba Applebee's Neighborhood Grill /Bar Timark Inc. dba Millroad Inn Letru Inc. dba Stillwater Bowl & Lounge Phil's Tara Hideaway Inc. dba Club Tara Hideaway Stillwater Eagles Aerie 94 dba Stillwater Eagles On -Sale Sunday Liquor Licenses VFW 323 dba Greeder -Hinds Comfort Post Apple American Ltd Ptsp of MN dba Applebee's Neighborhood • Grill /Bar Timark Inc. dba Millroad Inn Letru Inc. dba Stillwater Bowl & Lounge Phil's Tara Hideaway Inc. dba Club Tara Hideaway Stillwater Eagles Aerie 94 dba Stillwater Eagles On -Sale Wine License Ming Sun Chu - dba Stone Lake Restaurant Dailey Incorporated - dba Carbones Pizza On -Sale Non - Intoxicating Liquor License Ming Sun Chu - dba Stone Lake Restaurant Dailey Incorporated - dba Carbones Pizza Off -Sale Non - Intoxicating Liquor License Cellars Wines & Spirits of O.P.H., Inc. dba Cellars Wines & Spirits Rainbow Food Group - dba Rainbow Foods Amusement Licenses • Timark Inc. dba Millroad Inn Letru Inc. dba Stillwater Bowl & Lounge Jeanne Gehle, Metro Coin Co. for Stillwater Eagles Aerie #94 Wal -Mart Store #1861 i • City of Oak Park Heights 2002 Licenses Page 2 Tobacco Licenses Wal -Mart Store #1861 VFW 323 - dba Greeder -Hinds Comfort Post Cellars Wines & Spirits of O.P.H., Inc. - dba Cellars Wines & Spirits Erickson Post Acquisition, Inc. - dba Stillwater Amoco Holiday Stationstore #237 Timark Inc. - dba Millroad Inn Speedway Superamerica #4453 Speedway Superamerica #4549 Rainbow Food Group - dba Rainbow Foods Snyder's Drug Store #5075 Stillwater Eagles Aerie 94 dba Stillwater Eagles Bingo Licenses VFW 323 dba Greeder -Hinds Comfort Post a RESOLUTION NO. 01 -11 -57 • CITY COUNCIL CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION OF THE CITY COUNCIL THAT THE REQUEST BY GOLDRIDGE GROUP, FOR PROPERTY LOCATED SOUTH OF 58 STREET BETWEEN HIGHWAY 5 AND MEMORIAL AVENUE NORTH FOR A PRELIMINARY PLAT, ENTITLED OAK PARK STATION, BE APPROVED WITH CONDITIONS WHEREAS, the City of Oak Park Heights has received a request for a preliminary plat/planned unit development to allow a subdivision and a planned unit development/conditional use permit to allow the construction of a 6,000 square foot bank on property located south of 58 Street between Highway 5 and Memorial Avenue North, after having conducted a public hearing relative thereto the Planning Commission of Oak Park Heights recommended that the request be approved with conditions. The City Council makes the following findings of fact and resolution: follows, to wit: 1. The real property affected by said application is legally described as • SEE ATTACHMENT A and 2. The applicant has submitted an application and supporting documentation to the Community Development Department consisting of the following items: SEE ATTACHMENT B and 3. City staff prepared planning reports dated October 2, 2001 and November 1, 2001, reviewing the request for the preliminary plat/planned unit development and conditional use permit/planned unit development; and 4. Said report recommended approval of the of the preliminary plat/planned unit development and conditional use permit/planned unit development subject to the fulfillment of various conditions; and 5. The Planning Commission held a public hearing at their October 11, 2001 meeting and their November 8, 2001 meeting, took comments from the applicants and public, closed the public hearing, and recommended the request be approved subject to the fulfillment of • conditions. • NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF OAK PARK HEIGHTS THAT THE CITY COUNCIL APPROVES THE FOLLOWING: 1. The request submitted by the Goldridge Group for a preliminary plat, entitled Oak Park Station, for property located south of 58 Street between Highway 5 and Memorial Avenue North and affecting the real property as follows: SEE ATTACHMENT A 2001. Approved by the City Council of the City of Oak Park Heights this 27 day of _November r David Beaudet, Mayor ATTEST: • Kimberly Kam" per, Acting City Administrator 2 City of Oak Park HeiLyhtS `= w 14168 Oak Park Blvd • Box 2007.Oak Park Heights, MN 55082 . Phone (651) 439 -4439 • Fax 439 -0574 Attachment A Legal Description for proposed Oak Park Station /S & C Bank: Lot 1 Block 2 Kern Center • TREE CITY U.S.A. M ,R City of Oak Park Heights 14168 Oak Park Blvd • Box 2007 . Oak Park Heights, MN 55082 . Phone (651) 439 -4439 . Fax 439 -0574 Attachment B Oak Park Station /S & C Bank X Application form and payment for fees _X Proof of ownership or authorization to proceed as applicant _X — A parcel search obtained from Washington County of all properties located within 500 feet of the exterior boundaries of the property _X Property Tax Statement _X Grading /Drainage /Utility Plan(s) _X Landscape Plan _X Signage Plan _X Lighting Plan N/A Tree Protection and Replacement Plan _X Building Elevations _X Other Plans and /or information as required by Ordinance or requested by City Staff Submitted Plans: _X 3 full scale sets of plan ._X 20 — 11" X 17" sets of plans TREE CITY U.S.A. RESOLUTION 01 -11- • CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA RESOLUTION ADOPTING ASSESSMENT WHEREAS, pursuant to notice given as required by law, the City Council has met, heard and passed upon all objections to the proposed assessment for Hazardous Building Removal at 5887 Beach Road North, and has amended such proposed assessment as it deems just; NOW, THEREFORE, BE IT RESOLVED by the City Council of Oak Park Heights, Minnesota, as follows: 1. Such proposed assessment, a copy of which is attached hereto and made part hereof is hereby accepted and shall constitute the special against the lands named therein, and each tract of land therein is hereby found to be benefited by the proposed improvement. 2. Such assessments shall be as follows: a. As a single payment of $17,398.24, payable over a period of one year, with interest as the rate of four percent (4 %) per annum, the first of said installments to be payable with general taxes for the year 2002, collectible with such taxes during the year 2002, collectible with such taxes during the year 2002. Interest shall accrue from and after January 1, 2002. b. The owner of the property so assessed may at any time prior to the certification of the assessment to the County Auditor, pay to the City Treasurer, and thereafter at any time prior to November 15 of any year pay to the County Auditor, the whole of the principal amount of the assessment on such property provided that no such prepayment shall be accepted without payment of all installments due to and including December 31 of the year of prepayment, and the original principal amount reduced only by the amounts of principal included in such installments computed on an annual amortization basis. 3. The City Clerk shall forthwith transmit a certified duplicate copy of this assessment to the County Auditor to be exte6bavidet ist of the County ATTEST: Mayor ty Kimberly ly �2, Y Acting City Administrator • CERTIFICATION OF ASSESSMENTS TO WASHINGTON COUNTY AUDITOR'S OFFICE BY CITY OF OAK PARK HEIGHTS ' Pate Submitted: 11/30/01 Indicate One Of The Following As An Acitivity Code: (A) Add (D) Delete Project # 5081085 Project Description: Start Year: 2002 Years Covered: 1 Interest Rate: 4% Assessment Activity Code Property # Amount A 03- 029 -20 -21 -0029 17,398.24 • • 11/29/2001 Page 1 01 Bjorkman Bldg Removal Assessment RESOLUTION 01 -12 - - Sq • CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION APPROVING THE 2002 GENERAL FUND LEVY WHEREAS, the City Staff has prepared and submitted to the City Council the proposed general fund levy for calendar year 2002; and, WHEREAS, the City Council for the City of Oak Park Heights has determined that the proposed general fund levy as submitted by the City Staff is in the best interests of the citizens of the City of Oak Park Heights. NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Oak Park Heights: 1. That the City Administrator is hereby authorized and directed to certify to the Washington County Tax Accounting Department the General Fund levy for the City of Oak Park Heights for calendar year 2002 in the amount of $1,908,179.00. • 2. That the City Administrator is also authorized and directed to certify to the County Tax Accounting Department the Bonded Indebtedness levy for 1995 General Obligation Bonds in the amount of $59,400.00 to be collected in calendar year 2002. Passed by the City Council for the City of Oak Park Heights this 11th day of December 2001. Vi Attest: Kimberly ampex'��� Acting Administrator • RESOLUTION 01 -12 - 6()_ CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION APPROVING THE 2002 BUDGET WHEREAS, the City Staff has prepared and submitted to the City Council the proposed budget for calendar year 2002; and, WHEREAS, the City Council for the City of Oak Park Heights has determined that the proposed budget as submitted by the City Staff is in the best interests of the citizens of the City of Oak Park Heights. NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Oak Park Heights: That the 2002 budget is hereby approved as presented by the City Finance Director in the total General Fund amount of • $2,587,790.00. Passed by the City Council for the City of Oak Park Heights this 11th day of December 2001. X avideaudet, Mayor Attest: 9 Kimberly Kamper Acting Administrator • i RESOLUTION NO. 01 -12 -61 CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION ESTABLISHING SEWER USAGE RATES WITHIN THE CITY OF OAK PARK HEIGHTS EFFECTIVE JANUARY 1, 2002 WHEREAS, the City of Oak Park Heights by resolution and ordinance regulates sewer usage rates within the City for all users; and, WHEREAS, a rate study has been conducted and completed by City Staff recommending sewer rate increases to accommodate the cost for administrating, managing, and providing municipal sewer services to the citizens of the City of Oak Park Heights and all properties connected thereto; and, WHEREAS, the City Council has reviewed said rate increases and determined the same to be fair and equitable. • WHEREAS, the city ordinances provide for the implementation of rate increases by resolution. NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Oak Park Heights as follows: That effective January 1, 2002, the City of Oak Park Heights shall establish a municipal sewer rate for all users as follows: a. A monthly rate of $.95 for administrative fees, and $2.61 per 1,000 gallons of water used for the first 5,000 gallons, with a per month minimum charge of $14.00. b. A rate of $2.61 per 1,000 gallons of water used over 5,000 gallons. C. Residential sewer rates are determined by the amount of water used in the month of December of each year. Commercial, industrial and institutional sewer rates are based on actual usage. • r i� Passed by the City Council for the City of Oak Park Heights this 11 day of December, 2001. David Beaudet, Mayor ATTEST: Kimberllb Kamper Acting Administrator • • RESOLUTION 01 -12- 62 . CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION APPROVING THE APPLICATION OF THE MILLROAD INN FOR A GAMBLING CONTROL BOARD PREMISES PERMIT FOR OPERATION OF CHARITABLE GAMBLING ACTIVITIES WITHIN THE CITY OF OAK PARK HEIGHTS WHEREAS, the Millroad Inn, has applied with the State of Minnesota Gambling Control Board for a Premises Permit Renewal to continue to operate a gambling activity at the site of the Millroad Inn 15506 North 59 Street, within the City of Oak Park Heights; and WHEREAS, The City of Oak Park Heights has reviewed the application of the Millroad Inn and finds that its purposes meet the necessary community standards; and WHEREAS, the City of Oak Park Heights has solicited the input of the public and there have been no objections to the granting of the renewal application for the premises permit as applied for by the Millroad Inn with the State of Minnesota Gambling Control Board. • NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF OAK PARK HEIGHTS AS FOLLOWS: That the application of the Millroad Inn with the State of Minnesota Gambling Control Board to operate gambling activities on the site of the Millroad Inn located at 15506 North 59 Street within the City of Oak Park Heights through March 31, 2004 and the same are hereby approved. Passed by the City Council of Oak Park Heights this 11 th day of December, 2001. David Beaudet ATTEST: Mayor Kimberly amper Acting Administrator • • RESOLUTION NO. 2001 -12 - CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION RECOGNIZING THE SERVICE OF CHARLES W. HEDLUND AS COMMISSIONER TO THE OAK PARK HEIGHTS PLANNING COMMISSION FROM 1998 -2001 WHEREAS, Charles W. Hedlund has served as a Planning Commissioner, and in the capacity of Commission Chair, for the City of Oak Park Heights since the Planning Commission was formed in 1998; and WHEREAS, the City Council of the City of Oak Park Heights relies upon the leadership of the Planning Commission, its Chair and its members to assist in shaping the vision of the City's development and growth; and • WHEREAS, Charles W. Hedlund's contribution of time, effort and dedication to the Planning Commission has been valuable and sincerely appreciated. NOW, THEREFORE, BE IT RESOLVED, that the City Council for the City of Oak Park Heights commends Charles W. Hedlund for his dedication and commitment to the interests of the citizens of the City of Oak Park Heights. Passed by the City Council for the City of Oak Park Heights this 11th of December, 2001. a A David Beaudet, Mayor ATTEST: Kimberly Kamper Acting City Administrator s CITY OF OAK PARK HEIGHTS �} WASHINGTON COUNTY, MINNESOTA RESOLUTION NO. 2001 12 -6 4 RESOLUTION OF THE CITY COUNCIL TO VACATE DRAINAGE AND UTILITY EASEMENTS FOR LOT 1, BLOCK 2, KERN CENTER AND LOTS 5 6 AND 7 BLOCK 1 KERN CENTER 2 ADDITION WHEREAS, the City of Oak Park Heights has considered a petition and application by the fee owners of real property located within the City of Oak Park Heights consisting of the following to wit: Lot 1, Block 2 Kern Center and Lots 5, 6 and 7, Block 1 Kern Center 2 nd Addition; and WHEREAS, the application requests the City to vacate the existing drainage and utility easements now located within the plat of Kern Center and Kern Center 2 Addition as it affects the lots and blocks above - referenced; and WHEREAS, it appears to be in the best interests of the public to vacate said drainage and utility easements so as to facilitate a replatting of the property into the plat to be known as Oak Park Station; and • WHEREAS, the City has duly conducted its public hearings in the manner provided by law and has received no adverse public comment relative to the vacating of the existing drainage and utility easements for Lot 1, Block 2 Kern Center and Lots 5, 6 and 7, Block 1 Kern Center 2 nd Addition; and WHEREAS, there will be a rededication of drainage and utility easements within the new area to be platted as Oak Park Station; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Oak Park Heights that the existing drainage and utility easements now displayed within Lot 1, Block 2 Kern Center and Lots 5, 6 and 7, Block 1 Kem Center 2 Addition being the same are hereby vacated. BE IT FURTHER RESOLVED that the City Administrator shall prepare a Notice of Completion of these proceedings which shall contain the name of the City, the identification of the vacation, a statement of the time of completion thereof, and a description of the real estate and the land affected thereby. Such Notice shall be presented to the County Auditor - Treasurer, who shall enter the same in his transfer records and note upon the instrument over the official signature of that office the words `Entered In the Transfer Records ". The Notice shall then be filed with the County Recorder, all as required by Minnesota Statute §412.851 of the Minnesota Statutes. Adopted and passed by the City Council for the City of Oak Park Heights this 11' day of December,.2001. A Od. Mayor A p Kimberly Kamper Acting City Administrator 2 • RESOLUTION NO. 01-12-65 CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA RESOLUTION ESTABLISHING CONNECTION FEES THROUGHOUT THE CITY OF OAK PARK HEIGHTS FOR CONNECTIONS TO MUNICIPAL WATER SYSTEMS, SANITARY SEWER SYSTEMS AND STORM SEWER SYSTEMS WHEREAS, Minn. Stat. §444.075, Subd. 3 authorizes municipalities to establish a system of charges for the construction, reconstruction, repair, enlargement, improvement or other obtainment, maintenance operation and use of municipal facilities, including, but not limited to charges for connections to such municipal facilities for municipal water, sanitary sewer, and storm sewer; and, WHEREAS, City ordinances provide for the Council to establish from time to time connection charges to be collected for properties developing in and connecting to the municipal water, sanitary sewer and storm sewer systems; and, • WHEREAS, the City has historically established and collected connection charges; and, WHEREAS, connection charges established by the City of Oak Park Heights require modification and amendment from time to time; and, WHEREAS, the office of the City Engineer has provided recommendations to the City Council as it affects the establishment of connection charges throughout the City of Oak Park heights as it relates to connection to trunk sanitary sewer systems, trunk water systems and trunk storm sewer systems; and, WHEREAS, the City Council determines it to be in the best interest of the residents and City of Oak Park Heights that such fees be periodically renewed and adjusted to take into account cost of construction and replacement and systems, cost of maintenance operation and other expenses that the City expects to incur with regard to the maintenance of such systems. NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Oak Park Heights that effective January 1, 2002 city connection charges to be applied throughout the City of Oak Park Heights for properties developing or connecting to municipal utilities shall be as follows: • • 1. Sanitary sewer connection charge, $2,660.00 per acre. 2. Municipal water connection charge, $4,630.00 per acre. 3. Storm sewer connection charge, $5,860.00 per acre. BE IT FURTHER RESOLVED, that as to the computation of acreage as it affects each development or connection related to the collection of these fees, all such computations shall be made through the office of the City Engineer with all such fees being thereafter collected through the office of the City Administrator. No connection shall be made to any municipal utility system until such time as the connection fees as calculated and determined by the office of the City Engineer have been collected. Passed by the City Council for the City of Oak Park ' hts this 11 day f December 2001. L Oeaul, ayor ATTEST: /l Kimberly Kaliper Acting City Administrator • 2 RESOLUTION NO. G6 s CITY COUNCIL CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION ESTABLISHING FINDINGS OF FACT AND RESOLUTION OF THE CITY COUNCIL THAT THE REQUEST BY GOLDRIDGE GROUP, LOCATED SOUTH OF 58 Tx STREET BETWEEN HIGHWAY 5 AND MEMORIAL AVENUE NORTH FOR A FINAL PLAT, PLANNED UNIT DEVELOPMENT, VACATION OF EASEMENTS, AND PLANNED UNIT DEVELOPMENT /CONDITIONAL USE PERMIT BE APPROVED WITH CONDITIONS WHEREAS, the City of Oak Park Heights has received a request for a preliminary and final plat, planned unit development and vacation of easements in Kern Center and Kern Center 2 Addition to allow a commercial subdivision and a planned unit development/conditional use permit to allow the construction of a 6,000 square foot bank on property located south of 58 Street between Highway 5 and Memorial Avenue North, after having conducted a public hearing relative thereto, the Planning Commission of Oak Park • Heights recommended that the request be approved with conditions. The City Council makes the following findings of fact and resolution. 1. The real property affected by said application is legally described as follows, to wit: SEE ATTACHMENT A and 2. The applicant has submitted an application and supporting documentation to the Community Development Department consisting of the following items: SEE ATTACHMENT B and 3. The applicant has requested that the City Council hold a public hearing and vacate easements in Kern Center and Kern Center 2nd Addition legally described as follows to wit: SEE ATTACHMENT C • 4. To accommodate the phased development, the processing of a preliminary . plat/planned unit development (Concept Plan) is necessary; and 5. The applicants have further requested the approval of a final plat and planned unit development/conditional use permit (General Plan) to allow the construction of a 6,000 square foot bank (with a drive - through facility) upon proposed Lot 1, Block 1, Oak Park Station; and 6. The conditional use permit evaluation criteria of Section 401.03.A.8 of the Zoning Ordinance has been considered and determined to be satisfied; and 7. The applicable planned unit development requirements of Section 401.06.B of the Zoning Ordinance will be satisfied as a condition of project approval; and 8. City staff prepared planning reports dated October 2, 2001 and November 1, 2001, reviewing the request for the preliminary /final plat, planned unit development, vacation of easements, and conditional use permit/planned unit development; and 9. Said report recommended approval of the of the preliminary and final plats, planned unit development, vacation of easements, and conditional use permit/planned unit development subject to the fulfillment of various conditions; and 10. The Planning Commission held a public hearing at their October 11, 2001 • meeting and their November 8, 2001 meeting, took comments from the applicants and public, closed the public hearing, and recommended that the request be approved subject to the fulfillment of conditions; and 11. The City Council approved the preliminary plat, entitled Oak Park Station, at their November 27, 2001 meeting; and 12. The City Council held a public hearing at their December 11, 2001 meeting to consider the vacation of easements in Kern Center and Kern Center 2nd Addition; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF OAK PARK HEIGHTS THAT THE CITY COUNCIL APPROVES THE FOLLOWING: 1. The requests submitted by the Goldridge Group for a final plat, planned unit development, and vacation of easements in Kern Center and Kern Center 2nd Addition, and planned unit development/conditional use permit for a commercial development located between Highway 5 and Memorial Avenue North and affecting the real property as follows: SEE ATTACHMENTS A AND C • 2 Be and the same as hereby approved by the City Council of the City of Oak Park Heights for approval with conditions as follows: A. Planned unit development, final plat, concept plan, and vacation of easements approval of a commercial subdivision entitled "Oak Park Station" subject to the following conditions: 1. Legal descriptions of the easements to be vacated in Kern Center and Kern Center 2nd Addition are provided by the applicant subject to approval of the City Engineer and City Attorney. 2. The proposed street within the development be dedicated and constructed as a public street. 3. The City Engineer and the applicable watershed district or authority provide comment and recommendation in regard to drainage, storm water ponding, and utility issues. 4. A temporary cul -de -sac is provided at the proposed street's southern terminus at the first phase of development. 5. As a condition of final plat approval, the applicant enter into a development agreement with the City. is 6. The easements for the storm water drainage areas are subject to review and approval of the City Engineer and City Attorney. 7. As a condition of final plat approval, connection fees (for water, sewer and sanitary sewer) for all lots which comprise the proposed subdivision shall be paid. 8. A 25 foot curb to building setback shall be required for all development in the prof ect. 9. All other comments of the Minnesota Department of Transportation, City Council, Planning Commission, and City staff. B. Approval of a final plat, planned unit development/conditional use permit to allow a 6,000 square foot bank (with drive - through lanes) upon Lot 1, Block 1, Oak Park Station subject to the following conditions: 1. The access to the proposed street is subject to review and approval of the City Engineer. 2. A "do not enter" sign shall be installed near the southeast corner of the bank building so that vehicles do not enter the drive - through area from the parking area. • 3 I 3. The setback of the building from the curb of the proposed street is maintained at 25 feet. 4. The site shall be provided with 40 parking stalls and five proof of parking stalls. 5. Specific building material colors are specified and found to be acceptable by the City. 6. The sidewalk is extended from the north side of the building to the proposed street. The Parks Commission shall review the need for additional sidewalks on 58 th Street and Memorial Avenue. 7. All site lighting shall meet Zoning Ordinance requirements, is hooded, and directed such that the source of the light is not visible from surrounding properties and rights -of -way. A revised plan shall be submitted that complies with all ordinance requirements subject to City staff review and approval. 8. The revised landscape plan shall be subject to review and approval by the City Arborist. 9. The area identification sign is located within an easement and the applicant provide a plan to ensure maintenance of the sign. • 10. Details related to proposed wall signage are submitted subject to City approval. All signage shall conform to the Zoning Ordinance requirements. 11. The City Engineer provide comment and recommendation in regard to grading and drainage issues. 12. The City Engineer provide comment and recommendation in regard to utility issues. 13. A development agreement shall be required as part of the approvals subject to City Council and City Attorney review and approval. 14. All other conditions of the City Council, Planning Commission, and City staff. Approved by the City Council of the City of Oak Park Heights this 11 day of December 2001. QDaviBeau Mayor • 4 I ATTEST: PN' Kimberly Kamj3er, Actmerty Administrator 5 City of dg' . wg Oak Park Heights ` . � °;' • 14168 Oak Park Blvd •Box 2007.Oak Park Heights, MN 55082 • Phone (651) 439 -4439 • Fax 439 -0574 Attachment A Legal Description for proposed Oak Park Station /S & C Bank: Lot 1 Block 2 Kern Center TREE CITY U.S.A. City of 4 Oak Park Heights 14168 Oak Park Blvd •Box 2007.Oak Park Heights, MN 55082 • Phone (651) 439 -4439 • Fax 439 -0574 Attachment B Oak Park Station /S & C Bank _X _Application form and payment for fees — X — Proof of ownership or authorization to proceed as applicant X A parcel search obtained from Washington County of all properties located within 500 feet of the exterior boundaries of the property X Property Tax Statement _X Grading /Drainage /Utility Plan(s) _X Landscape Plan _X Signage Plan _X Lighting Plan N/A Tree Protection and Replacement Plan X Building Elevations — X — Other Plans and /or information as required by Ordinance or requested by City Staff Submitted Plans: X 3 full scale sets of plan X 20 — 11" X 17" sets of plans TREE CITY U.S.A. ATTACHMENT C All drainage and utility easements per e Ce� p Addit Addition, W in Lot 1, Block 2, ashington County Kern Center and Lots 5, 6 and 7, Block 1, K ern Center Minnesota • • RESOLUTION NO. 01 -12 67 CITY OF OAK PARK HEIGHTS WASHINGTON.COUNTY, MINNESOTA A RESOLUTION AUTHORIZING THE BUDGET TRANSFER OF TAX INCREMENT FINANCING FUNDS TO THE GENERAL FUND WHEREAS, the City of Oak Park Heights has previously established a tax increment financing district; and, WHEREAS, said tax increment financing district generates funds for administration fees to be paid to the City of Oak Park Heights; and, WHEREAS, the City has incurred administrative fees based upon work performed in relationship to said tax increment financing matters for calendar year 2001 in the amount of $452.00; and, WHEREAS, the City does not anticipate additional administrative fees or audit and accounting expenses as it affects the tax increment financing district. • NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Oak Park Heights that there shall be transferred from the St. Croix Mall tax increment financing fund to the general fund the sum of $452.00. Passed by the City Council fo t t f Oak rk Heights this 27 day of December 200 . Davz.d Beaudet Mayor ATTEST: Kimberly ;amp�er ✓ Acting Administrator • RESOLUTION NO. • CITY COUNCIL CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY, MINNESOTA A RESOLUTION ESTABLISHING FINDINGS OF FACT AND RESOLUTION OF THE CITY COUNCIL THAT THE CONDITIONAL USE PERMITS FOR KARMANN JACK'S INC. FOR PROPERTY LOCATED AT 14621 60 STREET BE REVOKED WHEREAS, the City of Oak Park Heights has documented violations of the conditional use permits issued to Karmann Jack's in August 1999 and November 1999, for property located at 14621 60 1h Street, and after conducting an annual review at their December 11, 2001 meeting, the City Council of Oak Park Heights makes the following findings of fact and resolution: 1. The subject property is legally described as follows, to wit: SEE EXHIBIT A • and 2. A conditional use permit, approved by the City Council on August 24, 1999, was granted to the applicant for the subject property at 14621 60 th Street to allow outdoor, used auto sales and minor auto repair subject to the following conditions: a. The outdoor sales area shall be limited to not more than 30 percent of the gross floor area of the principal structure. b. All automobile repair activities shall be conducted within the principal structure and the doors to the service bays kept closed except when vehicles are being moved in or out of the service areas. C. The applicant specify the proposed colors for the building facades and canopies, subject to review and approval of City staff. d. The proposed neon accent on the building facade is removed. e. The landscape plan is subject to review and approval of the City Arborist. f. The bituminous parking surface and concrete curb are improved, subject to Zoning Ordinance requirements and the review and approval of the City Engineer. • • and 3. A conditional use permit, approved by the City Council on November 23, 1999, was granted to the applicant for the subject property at 1462160 th Street to allow major auto repair to include a body shop, painting of vehicles, and mechanical repair subject to the following conditions: a. The conditions for approval of the CUP for automobile sales and minor auto repair approved by the City Council on August 24, 1999 shall apply to the CUP for major auto repair. b. Approval of the CUP is subject to finalization and publication of the Zoning Ordinance amendment to allow major auto repair as a conditional use in the B -2, General Business District. C. Any changes to the exterior lighting will be required to conform to Section 401.15.B.7 of the Zoning Ordinance. d. All automobile repair activities shall be constructed within the principal structure and the doors to the service bays shall be kept closed except when vehicles are being moved in or out of the service areas. e. There shall be no exterior storage of automobile parts, parts cars, or related items • on the site. All storage shall be internal to the building. Any cars to be stored outside of the building shall be in full working order. f. All nose created from operations on the site shall be in conformance with Section 401.15.B.11 of the Zoning Ordinance. g. Completion of the parking lot and curb /gutter improvements, subject to review and approval of the City Engineer. h. The automotive repair and food operations shall be totally separated including all ventilation systems and storage of materials in conformance with the requirements of the Washington County Department of Health, Environment and Land Management and the Building Official. i. The applicant shall receive and retain a Hazardous Waste Generators License from Washington County. j. The applicant shall receive and retain an air discharge permit from the Minnesota Pollution Control Agency. and • 2 4. The business identified as Karmann Jack's is no longer operating at the subject property; and 5. The owner is in violation of the conditional use permits in that there is storage of non - operable vehicles, automobile parts, and trash in violation of the conditions of the conditional use permit approved November 23, 1999; and 6. Reports have been filed by the City Building Official and City Police Officers documenting the outside storage violations; and 7. The City Council held an annual review of the conditional use permits at their December 11, 2001 meeting, with proper written notification to the property owner in compliance with Section 401.03 of the Zoning Ordinance; and 8. After reviewing the violations of the conditional use permits and determining that the business known as Karmann Jack's no longer occupies the subject property, the City Council approves the following: NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF OAK PARK HEIGHTS THAT THE CITY COUNCIL APPROVES THE FOLLOWING: • A. The conditional use permits approved by the City Council on August 24, 1999 and November 23, 1999 for Karmann Jack's at 14621 60 Street North and affecting the real property as follows: SEE EXHIBIT A Be and the same as hereby revoked. Approved by the City Council of the Cit of O C ar hts this th y of December 2001. Savid Beaudet, Mayor ATTEST: Kimberly Kam per, Actin City dministrator Y p � g i 3 0 EXHIBIT "A" THAT PART OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 4, TOWNSHIP 29 NORTH, RANGE 20 WEST, WASHINGTON COUNTY MINNESOTA, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER; THENCE NORTH 89 DEGREES, 13 MINUTES , 19 SECONDS EAST, BEARING ORIENTED TO THE WASHINGTON COUNTY COORDINATE SYSTEM, SOUTH ZONE, ALONG THE NORTH LINE OF SAID NORTHWEST QUARTER OF THE NORTHEAST QUARTER A DISTANCE OF 666.20 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE NORTH 89 DEGREES, 13 MINUTES, 19 SECONDS, EAST ALONG SAID NORTH LINE 160 FEET; THENCE SOUTH 00 DEGREES, 46 MINUTES, 41 SECONDS EAST 350 FEET TO THE NORTH LINE OF ST. CROIX MALL P.U.D. ACCORDING TO THE PLAT OF RECORD IN THE OFFICE OF THE COUNTY RECORDER, WASHINGTON COUNTY, MINNESOTA; THENCE SOUTH 89 DEGREES , 13 MINUTES, 19 SECONDS WEST ALONG SAID NORTH LINE 153.14 FEET TO THE SOUTHEAST CORNER OF RADUENZ ADDITION, ACCORDING TO THE PLAT OF RECORD IN SAID OFFICE OF THE COUNTY RECORDER; THENCE NORTH O1 DEGREE, 54 MINUTES, 06 SECONDS WEST, PARALLEL WITH THE WEST LINE OF SAID NORTHWEST QUARTER OF THE NORTHEAST QUARTER HE ALONG OF OF SAID RADUENZ CONTAINING 547 ADDITION A DISTANCE SQUARE FEET, MORE O 3 OR LESS. SUBJECT TO A HIGHWAY EASEMENT FOR TRUNK HIGHWAY 212 ALONG THE NORTHERLY L=E THEREOF.