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RESOLUTION NO. 10-006 CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA ON GIVING PRELIMINARY APPROVAL FOR THE ISSUANCE OF GENERAL .TION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO $5,000,000 AND ADOPTING THE CITY OF NEW BRIGHTON, MINNESOTA, CAPITAL IMPROVEMENT PLAN FOR 2010 THROUGH 2014 UNDER MINNESOTA STATUTES, SECTION 475.521 A. WHEREAS, the City Council of the City of New Brighton, Minnesota (the proposes to adopt the City of New Brighton, Minnesota, Capital Improvement Plan (the and to issue its general obligation capital improvement plan bonds (the 'Bonds") ed in the Plan; and B. WHEREAS, the City has caused notice of the public hearing on the intention to the Bonds and on the proposed adoption of the Plan to be published pursuant to and in lance with Minnesota Statutes, Section 475.521; and C. WHEREAS, a public hearing on the intention to issue the Bonds and on the xl Plan has been held on this date, following published notice of the public hearing as d by law; and lI D. WHEREAS, in approving the Plan, the City Council considered for each project andr the overall Plan: 1. The condition of the City's existing infrastructure, including the projected need for repair and replacement; 2. The likely demand for the improvement; 3. The estimated cost of the improvement; 4. The available public resources; 5. The level of overlapping debt in the City; 6. The relative benefits and costs of alternative uses of the funds; 7. Operating costs of the proposed improvements; and 8. Alternatives for providing services more efficiently through shared facilities with other local governmental units; and E. WHEREAS, the City Council has determined that the issuance of the Bonds is the ay to finance the capital improvements described in the Plan as authorized under ota Statutes, Section 475.521. THEREFORE, BE IT RESOLVED by the City Council of the City of New Brighton, a. as follows: The amended Plan is hereby in all respects approved.