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Sale of approximately $3,100,000 of tax-exempt general obligation bonds for watershed district purposes; fixing the form and specifications thereof and providing for their execution, delivery and payment
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Resolution:
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BE IT RESOLVED, by the Board of Commissioners (the "Board") of Hennepin County, Minnesota (the "County"), as follows:
1. Findings. In 2018, the Riley Purgatory Bluff Creek Watershed District (the "District") adopted a capital improvement program as part of its 10-Year Watershed Management Plan, pursuant to Minnesota Statutes, Section 103B.231. The District adopted Resolution 23-072 Adopting Plan Amendment for Spring Road Conservation Project and Resolution 23-073 Ordering the Spring Road Conservation Project on November 16, 2023 to provide for certain additional capital improvement projects (the "Watershed Project") to be included in the 10-Year Watershed Management Plan (as amended, the "Watershed Plan"). On August 14, 2025, the District adopted Resolution 25-046 (the "District Resolution"), by which the District requested long-term financing from the County for the Watershed Project, in accordance with Minnesota Statutes, Section 103B.251. In the District Resolution, the District covenanted to include the amount necessary to pay debt service on the County's bonds in its annual levy certification.
Pursuant to authority granted by Minnesota Statutes, Section 103B.251 and Chapter 475, the Board deems it necessary and expedient to issue and sell approximately $3,100,000 in principal amount of General Obligation Bonds, Series 2025B (the "Bonds"), to the Watershed Project, contingent upon favorable market conditions, as determined by the Hennepin County Chief Financial Officer (the "Chief Financial Officer"), or the Hennepin County Administrator (the "County Administrator"), as further described below.
2. Determinations of the Board. The Board has made all necessary investigation and hereby finds and determines as...
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