EXTRACT OF MINUTES OF MEETING OF
THE CITY COUNCIL OF THE
CITY OF HASTINGS, MINNESOTA
HELD: February 20, 2024
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Hastings, Minnesota, was duly held at the City Hall in said City on the 20th day of February, 2024, at 7:00 o’clock P.M.
The following members were present:
and the following were absent:
Member ___________________ introduced the following resolution and moved its adoption:
RESOLUTION DETERMINING TO ISSUE
$10,335,000 GENERAL OBLIGATION BONDS,
SERIES 2024A
WHEREAS, this Council has investigated the facts and does hereby find, determine and declare that it is necessary and expedient to issue $10,335,000 General Obligation Bonds, Series 2024A to finance (a) the betterment of the (i) Hastings Civic Arena and (ii) City Hall and (b) improvements to (i) various streets located within the City and (ii) the municipal water, sanitary sewer and storm water systems (collectively, the “Project”); and
WHEREAS, Section 5.16 of the City Charter authorizes the City to borrow money for such purposes, in such manner, and to such extent as permitted by the laws of the State of Minnesota;
WHEREAS, Section 5.16 of the City Charter further provides that if said laws require prior approval of the electors for any borrowing, such approval shall not be required if the City Council adopts a resolution by a vote of at least three-fourths (3/4ths) of all its members, unless within 10 days after the second publication of the resolution in the official newspaper of the City, a petition signed by voters equaling not less than 5 percent of the number voting in the last general election is filed with the City Clerk requesting an election;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hastings, as follows:
1. The City Council hereby determines to issue general obligation bonds of the City in the principal amount not to exceed $10,335,000 to finance the Project as authorized by Section 5.16 of the City Charter and Minnesota Statutes, Chapter 475.
2. The actions of the City Clerk in causing this Resolution to be published twice in the official newspaper of the City on February 1, 2024 and February 8, 2024, are hereby ratified.
The following motion was seconded by member ___________________ and the following voted in favor thereof:
and the following against the same:
whereupon the resolution was declared duly passed and adopted.
STATE OF MINNESOTA
COUNTIES OF DAKOTA AND WASHINGTON
CITY OF HASTINGS
I, the undersigned, being the duly qualified and acting City Clerk of the City of Hastings, Minnesota, DO HEREBY CERTIFY that I have carefully compared the attached and foregoing extract of minutes with the original minutes of a meeting of the City Council duly called and held on the date therein indicated, which are on file and of record in my office, and the same is a full, true and correct transcript therefrom insofar as the same relate to a resolution of the City Council determining to issue general obligation bonds of the City.
WITNESS my hand as such Clerk this 20th day of February, 2024.
City Clerk
2 1 8
