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<br />. <br /> <br />. <br /> <br />. <br /> <br />3. The estimated cost of the improvement; <br />4. The available public resources; <br />5. The level of overlapping debt in the City; <br />6. The relative benefits and costs of alternative uses ofthe funds; <br />7. Operating costs of the proposed improvements; and <br />8. Alternatives for providing services more efficiently through shared facilities <br />with other local governmental units; and <br /> <br />E. WHEREAS, the City Council has determined that the issuance of general obligation <br />capital improvement plan bonds in the aggregate principal amount of $5,000,000, is the best way to <br />finance those portions of Plan eligible under Minnesota Statutes, Section 475.521. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, <br />Minnesota, that the City hereby adopts the Capital Improvement Plan and authorizes the issuance <br />of up to $5,000,000 aggregate principal amount of general obligation capital improvement plan <br />bonds. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Member <br />Dietz and, after full discussion thereof and upon a vote being taken thereon, the <br />following voted in favor thereof: <br />Mayor Klinzing, Councilmember Motin, Farber, Dietz, and Gumphrey <br /> <br />and the following voted against the same: <br />None <br /> <br />Whereupon the resolution was declared duly passed and adopted. <br /> <br /> <br />ATTEST: <br /> <br /> <br />" ..........}/C) <br />''-''~.i .,' .1.\1..1 -: /1 <br />/ iT/- <br />Joan S~idt, City Clerk <br /> <br />"'- .../ <br /> <br />2 <br />