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Home My WebLink About07-109 u CITY OF LAKEVILLE RESOLUTION Resolution No. 07-109 RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, SERIES 244?E WHEREAS, the City Council intends to issue its General Obligation Equipment Certificates of Indebtedness, Series 2047E (the Certificates), in the. aggregate principal amount of approximately $1,690,000, pursuant to the Minnesota Statutes, Sections 412.301 and Chapter 475.. The proceeds of the Certificates will be used, together with. any additional funds of the City which might be required, to finance the casts of acquiring the items of capital equipment further described in Exhibit L BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota as follows: SECTION 1. ISSUANCE OF CERTIFICATES AUTHORIZED. it is hereby determined to be in the best interests of the City to issue the Certificates. SECTION 2. TERMS OF PROPOSAL. Springsted Incorporated, financial advisor to the .City, has presented to this Council a form of Terms of Proposal-for the Certificates which is attached hereto and hereby approved and shall be placed on file. by the City Clerk. Each and. all of the provisions of the Terms of Proposal are hereby adopted as the terms and conditions of the Certificates and of the sale thereof. Springsted Incorporated, as independent financial advisor, pursuant to Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9) is hereby authorized to solicit proposals for the Certificates on behalf of the City on a negotiated basis. SECTION 3. SALE MEETING. This Council shall meet at the time and place shown in the Terms of Proposal, for the purpose of considering proposals for the purchase of the Certificates and of taking such action thereon as maybe in the best interests of the City. APPROVED AND ADOPTED this 18`h dayof June, 2007. CITY O LAKEVI LE, By: Holl ahl, r T ES Charlene Frie ges, Cit Jerk Exhibit I -EQUIPMENT FUND Zoo? ADOPTED BUDGET Revenues Equipment Certificates 1,690,000 Market Value Homestead Credit .350,000 .Tax Levy 115,000 Total Revenues 2,155,800 Expenditures Police 746,070 Fire 155,298 Streets 1,027,164 Parks 15Q,443 Issuance Costs 76,025 Total Expenditures 2,155,000 s ! ~ Exhibit I -EQUIPMENT FUND 2007 • ADOPTED BUDGET Police 2 Squad cars Addition 43,992 2 Squad builds Addition 4,160 2 Squad equipment Addition 44,054 3 Squad cars 834, 835,.839 65,988 3 Squad cars -conversions Replacement 9,210 K-9 Squad car 849. 21,996 K-9 Squad car -conversion Replacement 3,070 K-9 insert Replacement 1,666 Sergeant SUV 804 21,609 Sergeant SUV -conversion Replacement 3,070 CSO vehicle (Silverado} 846 20,149 CSO vehicle Topper/Liner Replacement 1,593 CSO vehicle Conversion Replacement 3,070 8 Graphics installation Addn/Replacement 3,920 investigator vehicle (Taurus) .815 15,577 Investigator vehicle -Conversion Replacement 1,342 Covert antenna Addition 852 8 Lightbar lenses Replacement ..1,363 5 Light/Siren controls Replacement 5,101 6 Lightbars Replacement 28,281 4 Squad cages Replacement 1,713 5 Radar units Replacement.. 13,787 1 AR-15 Addition 936 3 PBTs Replacement 918 1 MAAG rifle Addition 2,447 9 Tasers Addition 9,675 2 MAAG rifles Replacement 4,865 1 -Crime scene forensic light New 1,750 2 PDA's (Captains} Addition 1,000 31 Digital voice recorders. Addition 11,192. 22 Digital voice recorders Replacement 7,943 1 Mobile powerpoint projector New 3,087 Evidence bar coding system New 7,000 70 BIO security fingerprint scanners New 9,191 1 Digital PEO camera Replacement 1,065 LANT04 975 Server Replacement 6,344 1 Fax machine Replacement 1,300 1 Desktop computer -Investigation Replacement 1,982 2 Desktop computers-Patrol Replacement 3,964 4 Desktop computers -Records Replacement 7,928 7 Nextel phone upgrades Replacement 746 1 Laser printer Replacement 5P 585 90 800 MHz portable radios Replacement 215,567 37 800 MHz squad radios Replacement 131,022 Total 746,070 • r Exhibit I -EQUIPMENT FUND 2007 ADOPTED BUDGET Fire Chief vehicle (SUV) Replacement #8198 24,500 Chief vehicle-graphics Replacement 1,000 Chief Vehicle -lighting Replacement 6,.178 District Chief vehicle (4x4 Pickup} Replacement #8398 23,444 District Chief vehicle -graphics Replacement 1,000 District Chief vehicle -lighting Replacement 7,220 District Chief vehicle -access cover & liner Replacement 820 Flood lights on Rescue 3 Replacement. 2,023 Air lift bag systems, Station 1 & 3 Replacement 11,714 Rescue Randy -training Replacement 1,065 Emergency lighting for Utility 2 New 7,220 5 Desktop computers Replacement 9,910 1 Relief laptop Replacement 2,009 3 Printers (Stations 1, 2 & 3) Replacement 4,789 11 BIO security fingerprint scanners New 1,350 2 Rescue mobile laptops Addition 9,661 2 Mobile data licenses Addition 1,460 Workstation - FS3, Office, security, virus Addition 2,695 Visions Fire RMS package w/server & software New 36,740 i 1 PDA (Fire Inspector) Addition 500 Total 155,298 Streets 5 Dump Trucks with plows 4 Addn/1 Repl #2107 716,399 1 Desktop computer Replacement 1,982 Laser printer (repl 6P} Replacement. 1,596 7 BIO security fingerprint scanners New 945 23 800 MHz system radio upgrades Replacement 47,326 1-Ton truck with plow Addition 59,668 Loader Replacement #2214 1.47,511 Minivan (Facility Maintenance Coordinator) Replacement #2011 21,395 High truck stands New 2,569 Light. utility vehicle and sprayer New 14,294 2-Automatic external defibrillators New 3,287. Air conditioning service center Replacement 4,869 Scanner cartridge Replacement 1.,001 Post driver Replacement 1,700 Battery chargers New 1,169 Heavy duty tire turntable set New 1,454 Total 1,027,164 Exhibit I -EQUIPMENT FUND Zoo? ADOPTED BUDGET Parks John Deere 1445 mower, broom w/cab Replacement #3283 23,683 Kromer - .field striper Replacement #3270 17,560 Paint mixing station New 5,757 Top dresser Replacement #3450 .25,413 Dirt. pulverizer New 14,161 Desktop computer Replacement 1,982 BIO security fingerprint scanners New 675 33 - 800 MHz portable radios Replacement 61,212 Total 150,443