DEPARTMENT: Finance
FILE TYPE: Regular Action
TITLE
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Public Hearing On Bond Capital Improvement Plan, Adoption Of Plan And Approval Of Capital Improvement Bonds
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PURPOSE/ACTION REQUESTED
Adopt the Bond Capital Improvement Plan and approve the Bonds in a principal amount not to exceed $38,240,000.
SUMMARY
Pursuant to Minn. Stat. ? 373.40, the County Board must hold a hearing to accept public comments
on a Capital Improvement Program (CIP) related to issuance of general obligation bonds. Following
the public hearing, the County Board may consider adoption of the CIP, sometimes referred to as the
"Bond CIP." The adoption of the Bond CIP authorizes the County Board to issue bonds for the
Lebanon Hills Maintenance Facility Project, Wentworth Library Renovation Project, and Burnhaven
Library Renovation Project in an amount not to exceed $38,240,000. (Attachment: Proposed 2025-2029 Bond CIP).
The adoption of the Bond CIP does not obligate the County Board to issue the bonds. The
County Board would consider calling for the sale of bonds at the February 11, 2025 meeting, following the conclusion of a 30-day reverse referendum period. The approval of the Bond CIP must
be approved by vote of at least two-thirds of the members of the County Board.
By Resolution No. 24-583 (December 3, 2024), the County Board scheduled a public hearing for January 7, 2025, to receive comments on the Bond CIP. The public hearing was advertised in the Hastings Journal on December 18, 2025 (Attachment: Notice of Public Hearing).
RECOMMENDATION
recommendation
Approve the Bond Capital Improvement Plan and issue general obligation capital improvement bonds in an amount not to exceed $38,240,000
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EXPLANATION OF FISCAL/FTE IMPACTS
? None ? Current budget ? Other
? Amendment Requested ? New FTE(s) requested
RESOLUTION
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WHEREAS, the Dakota County Board of Commissioners (Board) has published notice of its int...
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