Title
RESOLUTION APPROVING CAPITAL IMPROVEMENT PLAN AND STATING INTENT TO ISSUE GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS UNDER MINNESOTA STATUTES, SECTION 475.521
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CITY PROPOSAL:
BE IT RESOLVED, by the city council (the "Council") of the city of Duluth, Minnesota (the "City"), as follows:
Section 1. Capital improvement plan.
1.01 (a) Under and pursuant to Minnesota Statutes, Section 475.521 (the "Act"), the Council has authorized preparation of a capital improvement plan for the years 2024 through 2028 which has been presented to the Council in the section entitled "Capital Improvement Program Summary" in the document entitled "2024-2028 Capital Improvement Budget and Five-Year Plan" (the "Plan");
(b) A notice of public hearings has been published in accordance with the Act, and the Council has held on December 11, 2023, a public hearing as required by the Act, to provide an opportunity for residents to express their views on the Plan;
(c) The Council has considered the following for each project discussed in the Plan and for the overall Plan:
(1) The condition of the City's existing infrastructure, including the projected need for repair or 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 cities or local government units.
1.02 (a) Based on the considerations set forth in the Plan and Section 1.01(c) hereof, the Council finds that the Plan is desirable and beneficial to the City and its residents;
(b) The Council finds that the proposed improvements under the Plan will result in no unnecessary duplication of public facilities provided by other units...
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