HomeMy WebLinkAbout8. Preliminary Approval for Issuance of General Oblligation Captial Improvement Plan Bonds and Adopt Capital Improvement Plan �.� �'S� -rc �^��s� i+�`�'�s-�. r�'�, s z�-. {" .�% �,� ��r'�`.z�,�. �, �. ,�� a#J'.
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CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
City Council Meeting Date: April 5, 2005
AGENDA ITEM: Prelirninary Approval for the Issuance
of the City's General Obligation Capital �GENDA SECTION:
Improvement Ptan Bonds and Adopting Public Hearing
the City of Rosemount's Capital
Improvement Plan
PREPARED BY: Dawn Weitzel, Assistant City AGEN���� �
Administrator
ATTACHMENTS: Resotution, Capital Impravement Plan, qppROVED BY: /� I
Tax Im act Worksheet .
RECOMMENDED ACTION: Motion to adopt a RESOLUTION GIVING PRELIM ARY
APPROVAL FOR THE ISSUANCE OF THE�CITY S GENERAL OBLIGATION CAPITAL
IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO EXCEED $2,630,000 AND
ADOPTING THE CITY OF ROSEMOUNT, MINNE50TA CAPITAL IMPROVEM�ENT PLAN.
ACTION:
BACKGROUND
Fire Station #2 has been anticipated in the City's capital improvement ptans for eight
years. Originally scheduled to open in 2000, it was delayed until #he street network and
population increase on the east side warranted the need for a satellite station. While
the greatest benefit of this station will be to provide an improved response time in
situations, an additional advantage is that it will also serve as an emergency operations
center in the case of crisis anywhere in the community.
As part of the financiai procedures in the construction of Fire Station#2 the City must
conduct a public hearing on the proposal to approve the issuance of general obligation
capital improvement plan bonds and to adopt the City s Capital Improvement Plan
(CIP). The City's CIP plan was approved in November of 2004 but to follow the
guidelines of the statutesregarding GP bonds the plan must be ap000 ed With a pubtic
hearing. The bonds will be set in an amount not to exceed $2,630,
In May the final rating of the bonds will take place, the architect will complete the initial
design development and forward it to the City for planning review, and Gouncil has set a
special meeting on May 24�" at 6:30 P.M. for the consideration af the sale and award of
the bonds.
SUMMARY roval
It is requested that City Councii approve the Resolution Giving Preliminary App
for the Issuance of the City's General Obligation Capital lmprovement Plan Bonds in
an Amount not to Exceed 52,630,000 and Adopting the City of Rosemount,
Minnesota Capital lmprovement Plan.
� CITY OF ROSEMOUNT
COUNTY OF DAKOTA
STATE OF MINNESOTA
RESOLUTI4N 2005
RESOLUTION GIVING PRELIMINARY APPROVAL
FOR THE ISSUANCE OF THE CITY'S �ENERAI� OBLIGATION
CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT
NOT TO EXCEED $2,630,000 AND ADOPTING THE
CITY OF ROSEMOUNT,MINNESOTA CAPITAL
IMPROVEMENT PLAN
WHEREAS, the City Council of the City of Rosemount, Minnesota (the "City") proposes to
issue its general obligation capital improvernent plan bonds (the "Bonds") and adopt a Capital
Improvement Plan(the "Plan"); and
WHEREAS, the City has caused notice of the public hearing on the interition to issue the Bonds
anc� on the proposed adoption of the Plan to be published pursuant to and in accordance with
Minnesota Statutes, Section 475.521; and
WHEREAS, a public hearing on the intention to issue the Bonds and on the proposed Plan has
been held on this date, following published notice of the public hearing as required by law; and
WHEREAS, in approving the Plan, the City Council considered for each project and for the
overall Plan:
1. The condition of the City's existing infrastructure, including the projeeted 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 altemative 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
WHEREAS, the City Council has determined that the issuanee of general obligation capital
improvement bonds in the aggregate principal amount of$2,630,000 is the best way to finance a '
portion of those portions of Plan eligible under Minnesota Statutes, Section 475.521.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Rosemount,
Minnesota, that the City hereby adopts the Plan and authorizes the issuance of up to $2,630,000
aggregate principal amount of general obligation capital improvement bonds.
1750120v1
2005 .
j
ADOPTED by the City Council this 5�' day of April, 2005.
William H.Droste,Mayor
Attest:
Linda Jentink, Secretary '
: Motion by: Seconded by:
Voted in favor:
Voted Against: ,
Members Absent:
i�saizo�i 2
r .
CERTIFICATE
STATE OF MINNESOTA )
COUNTY OF DAKOTA ) ss
CITY OF ROSEMOUNT )
I, Linda J. Jentink, duly appointed, acting and qualified City Clerk of the City of Rosemount do
hereby eertify that I have examined the City of Rasemount records and the Minute Book of said
City for the meeting of the Sth of April, 2005 and that the attached copy of the Resolution 2005_
A RESOLUTION GIVING PRELIMINARY APPROVAL FOR THE ISSUANCE OF THE
CITY'S GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN
AMOUNT NOT TO EXCEED $2,630,000 AND ADOPTING THE CITY OF ROSEMOUNT,
MINNESOTA CAPITAL IMPROVEMENT PLAN was approved and is a true and correct copy
of the City Proceedings relating to said Resolution.
IN WITNESS WHEREOF, I have hereunto set my hand and seal of said City this 5�'day of April,
2005.
Linda J. Jentink, City Clerk
City of Rosemount : :
Dakota County, Minnesota
i�sot2o�i 3
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10-YEAR CAPITAL IMPROVEMENT PLAN (CIP) '
BACKGROUND
Historically, the City of Rosemount has usually had some form of 5-year CIP in place to
utilize for its capital improvements. There have been times where just a single year's capital
improvements have been addressed and funded. As the C�ty continues to grow,we believe
that the careful development and continuous utilization of a realistic Capital Improvernent
Plan is essential to the proper management of the City. As we looked at developing a new 5-
year CIl', it became apparent that the dilemma that the City of Rosernount faces is one of
continued growth combined with restoration/reconstruction of the Qlder portions af our city.
This being the case, it was almost impossible to develop a plan for a 5-year period that was
very realistic. As work continued on the plan, we decided to explore the possibility of looking
out farther and developing a longer plan that would more realistically allow us to plan for the
City's future. What has evolved is the following 10-year Capital Improvements Plan. We
- believe that great strides have been made to more accurately plan for the future of the City of
Rosemount. This document is only a working guide that is utilized by the City Council and its
staff to prepare for the future. The first year of the plan will be included as part of the formal
budget that is prepared yearly as part of our Truth-in-Taxation process with the following
years developed as a working tool for future years' discussions.
GENERAL/ADMINISTRATIVE DESCRIPTION
The CIP provides for specific funding of items,the nature of which is not considered
"current"in their use or Iife expectancy. These items axe generally of a-higher estimated cost
- than$5,000 and will have a life expectancy of 3 years or greater. T'he source of funding for
these expenditures is typically the general ta.�c levy. `In some instances, other funding is
utilized. For example, beginning in 1996,revenues received from user fees are being
designated in various CIl' funds for capital improvement/equipment purchases. If these
revenues are realized, the equipment ar projeet will be completed and if the revenue is not
realized the equipment will not be purchased. Individual deparhnents are designated for each
item proposed for purchase in this plan.
TYPES OF CAPITAL IMPROVEMENT FUNDS
Another area of change for the CIP is the implementatian of three separate funds to isolate and
better track the types of capital improvements being planned for. The following briefly
describes each af the three:
Building CIP Fund -This fund is used to account for the on-going capital improvements and
possible additions to government buildings.
Street CIP Fund- This fund is used to account for the on-going street construction and
reconstruction projects within the City and all other major maintenance items related to both �
paved and unpaved streets including, but not limited to, street lights, signal lights, sidewalks
and avel road resurfacin .
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Equipment CIP Fund-This fund is used to account for the on-going replacement of and
additions to City equipment.
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MSA
Funds
Priori sulidin Sireet E ui mnt Park im From Water Sewer Storm Water Sewer Storm Total '
Year Level Item-Oescri tion De artment CIP Lev CIP Levy CIP Le Assess Fund State Core Core ' Core Utili Uti�it Utili Donations Other Cost
2005 2 Batte Poweredice-Ed er Arena 5,000 5,000 ,
2005 2 Paint Celiin and Duct Work Arena 15,000 15,000 '
2005 2 1995 Lease-Purchase 10-Years CouncG 50,600 50,800
2005 2 1996 Lease-Purchase 10-Years Council 64,900 64,900 '
2005 2 2001 Lease-PurChase 10-Years Council 115,400 115,400
2005 1 Fire Station#2 Council 3,000,000 3,000,000
2005 2 PC Printer Re lacements From 1999&2000 Finance 20,000 20,000
2005 2 PC Workstation U rades From 20ot Pinance 70,000 70,000 ,
2005 2 AED Unit Defibulator Re IacemeaUU rades fire 5,000 5,000
2005 2 Refurbish Unit#3590 14 Years Old Fire 25,000 25,000
2005 2 Backu Rescue Truck Fire "'*" 90,000 90,000
2005 1 Tanker Additlon Fire `"" 190,000 190,000
2005 2 Re laca Camfield Park Shetter Park&Rec 24,000 24,000
2005 2 Climbin Wall at Birch Park Park&Rec 12,000 12,000
2005 2 Park Si ns Park&Rec 5,000 5,000 10,000
2005 1 New Nei hborhood Park Built-Minea Park&Rec 350,000 350,000
2005 1 New Park Buiif-Brockvua Deveb ment Park 8 Rec 400,000 400,000
2005 Z Land Purchase for Athletic Com lex Park&Rec 2,500,000 2,500,000
2005 3 Video/Audio Recordin for Corrt7lnterview Room Police 5,000 5,000
2005 2 Lon Guns 2 for MAAG Police 5,000 5,000 ',
2005 1 Emer eoc E uipment for S uads&InsNallation Police 7,500 7,500
2005 2 Ticket WriterSoftware&PYinters Police 10,000 10,000
2005 3 �deo Cameras for 3 S uads Poflca 15,000 15,000
2005 1 2 S uads Seil Back 1-#2110-1 New Unmarked Potice 40,000 40,000
2005 2 PW Bld Add'n LeasefPurch Yr 7 of 20 Pub Wwks 24,000 10,000 10,000 44,000
2005 2 Count Road 38 TH 3 to Raiiroad Tracks Pub Works 250,000 304,500 90,500 795,000 1,440,000
2005 2 SVeetRehabilitation Pro'ects See Below Pub Works 1,000,000 200,000 1,200,000
2005 1 Connemara Tra1 Ove ass Construction Pub Works 2,000,000 2,000,000
2005 1 Dual Broom Swee er Addidon Pub Works ""'* 150,000 150,000
2005 2 Dum Truck Re lace 1t430 Pub Works '"'*** 120,000 120,000
2005 2 Dum Truck Addition Pub Works """ 120,000 120,000
2005 2 Loader Re lace#419 Pub Works *'*"' 200,000 200,000
2005 2 Jetter Truck Re (ace#435 Pub Works 70,000 70,000 140,000
2005 1 Evermoor Li@ Station&OuUet Storm CIP 14 Pub Works 550,000 55o,0oo
Totals 48,000 1,250,000 433,600 304,500 767,000 2,000,000 640,500 10,000 B0,000 70,000 7,390,000 12,993,600
Total Levy-Year 2005 1,731,600
'"'*"` Proposed Lease-Purchase for large equipment needs(coincides with 2 lease-purchases being paid off in 2005 and 2006).
(1) Ice-edger&painNng funding comes from Arena Fund operationslreserves:
(2) Funding for the New Fire Station#2 will come from a generai bond issue.
{3) Other funding for signs from encumbered 2004 funds(signs not purchased untif new logo chosen).
(4) Funding for Athietic Compiex land purchase unknown at this time. ,
(5) Other funding for Street Rehabilitation Projects comes from regular SKB User Fees($100,000)and e3ccess SKB Trust Funds($100,000).
(6) Other funding for County Road 38 Project will come hom Dakota County for its share of the project.
(7) Funding for Evermoor Lift Statfon&Outlet wiU come from a Storm Water Revenue bond issue.
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MSA
Funds
Priore Buildin Street E ui mot Park Im From Water Sewer Stonn Water Sewer Stwm Total
Year Level Item-Descri tion De artment CIP Lev GP!ev CIP Le Assess Fund State Gore Core Core Utilit Utili Utilit Do�tions Other Cost
2006 2 Ci Recwds Mana ement Sofhaare&E ui Admin 25,000
2006 1 New Batteries for Zamboni Arena 25,000
2006 2 Com ressor Re iacements for ChNler Arene 6,000 6,000
2006 2 1996 Lease-Purohase 10-Years Councii 30,000 30,000
- 64,800 64�900
2006 2 2001 Lease-Purchase 70-Years CouncG 115,400
2006 2 2(305 Lease-Purchase 10.Years Council 140,000 115,400
2006 2 PubGcWwks/Cit HallBuitdf Ex ansion Counctl - 140,000
2006 2 PC Ftle Server Re lacements(Both-From 2003 Financa 50,000 4,000,000 4,000,000
2006 2 Radio Re lacaments(Re lace Obsolete Fire 50,000 ,
108,000 108,000
2006 2 C/C Ba� uet Room Fioor Work Park&Rec 10,000
2008 1 Re lace C/C Floor Scrubber Park 8 Rec �p,ppp 10,000
2006 2 Re lace Park S' ns Park&Rec 12,000 10,000
2006 4 Pave Ericksoo Park Park lot Park 8 Rec 72,000
80�,000 . . . . . :.$0,000
2006 1 New Nei hborhood Park Built N-t Park&Rec 300,000 300,000
2006 1 Build Communit Pla �etd N-2 Park&Rec 600,000 600,000
2006 3 Build Athietic Com lex Partc&Rec
2006 1 Laser Addition Police 5,000 3,500,000 3,500,000
2006 1 V.A.R.D.A.Alarm PoAce 5,000
5,000 5,000
2006 3 V7deo Cameras for 4 S uads Police 12,000
2006 1 Emer enc E ui ment for S uads&Instatlation Police 12.000
16,000 16,000
2006 2 Ima e Software for Mu Shots&Fin er rints PoNce 50,000
2006 1 3 S uads SeIlBack 3-#320,330&370 PoNce 50,000
75,000 75,000
2006 2 PW Bid Add'n LeasefPurch Yr 8 of 20 Pub Works 24,000 10,000 10,000 44,000
2006 2 Street RehabiRtation Pro ects See$elow Pub Works 1,300,000 200,000 1,5�0,000
2006 2 Count Road 38 Railroad Tracks to Akron Ave. Pub Works 280,000 1,300,000 200,000 2,175,000 3,955,000
2006 2 Street Recon-CR 73-CR 42 to North Ci Limits Pub Works 230,000
2006 . 2 Sho HoFst R )ace#1 Pub Works 9,000 230,000
2006 2 70KW Sfandb Generator Re lace#54 Cit Hall Pub Works 30,000 9,000
2006 2 Picku Re ce t�306 Pub Works 30,000
33,000 33,000
2008 2 Picku Re lace#307 Pub Works 33,000 . 33,000
2006 2 Picku Addition Pub Works 33,000
2006 2 Picku Re iace#342 33,000
Pub Works 45,000 45,000
2006 2 Tractor Replace#406 Pub Works ' S0,000 50,000
2006 2 Mower Re lace#73 Pub Wotks 80,000
2008 1 Mower Additio� Pub Works 80.000 80,000
2006 7 Paint Connemara Tower&Stnfctural Re airs Pub Works 80 000 I
2006 1 Wel1#15 Land Ac uisition -- 500,000 500,000
Pub Works � 250,000 � 250,000 ,
2006 1 Shannon Pond OuNet Storm CIP 5 Pub Works 850,000 850,000
T���S 34,000 1,810,000 1,056,300 1,300,000 980,000 250,000 1,050,000 510,000 10,000 9,875,000 16,875,300
Total Levy-Year 2006 2.900,300
(�) Batteries&compressors furMing comes irom Arena Fund operations/reserves. '
(2) Funding for the Ciry HaN Expansion($1,000,000)8 PW Building Expansion($3,000,000)will come from a general bond issue.
(3) Funding for buildiog of AthteHc Complex unknown at this time. '
(4) Other funding for Street RehabilitaGon Projects comes from regular SK8 User Fees($100,000)and excess SKB Trust Funds($100,000).
(5) Other funding for County Road 36 Project will come from Dakota County for its share of the projecL
(6) For 2006 County Road 73 Project consists of only design costs.
(7) Funding for Shannon Pond Outlet wdl come from a Storm Water Revenue bond issue.
MSA '
Funds
Priori Buildin Street E u' mnt Park Im From Water Sewer ' Storm Water Sewer Storm Total
Year Levei Item-Descri tbn De artment CIP Lev CtP lev CIP Lev Assess Fund State Core Core Core Utilit Utilit Utilit DonaGons Other Cost
200T 2 Re lace CooNn Tower Arena 30,000 30,000
2007 2 "Welcome to RosemounP Si ns Comm Dev 20,000 20,000
2007 2 2001 Lease-Purchase 10-Years Council 115,400 115,400
•2007 2 2005 Lease-Purchase 10-Years Council 140,000 140,000
� �� 2007 2 � St:Jose h Rerwvation � Councq � � � � � � � � 500,000 � 500,Oo0 � � �
2007 2 PC Printer Re lacements From 2003 Finance 20,000 20,000
2007 2 PC Workstatio�U rades From 2003 Finance 70,000 70,000
2007 2 4x4 Grass Ri Re lacement '91 Vehicle Fire 35,000 35,000
2007 3 Re lace Ba uet Room WaN Pa er Comm Ctr Park 8 Rec 15,000 15,000
2007 1 New Nei hborhood Park Buitt N-3 Park&Rec 400,000 400,000
2007 1 4 New Radar Units Police 5,000 S.Q�
2007 1 E ui ment for New S ued Police 18,000 18,000
2007 3 Emer enc Res onse Coo erative Teams PoNce 25,000 25,OOo
2007 1 Radio CommuNcations U rades-800 MMZ Police 120,000 120,000
2007 1 4 S uads SeU Back 3-#9810,440 8 480-1 New Police 100,000 100,000 '
2007 2 PW Bld Add'n Lease/Purch Yr 9 of 20 Pub Works 24,000 10,000 10,000 44,000
2007 2 Street RehabilttaGon Pro'ects See Bebw Pub Wotics 1,300,000 200,000 1,500,000
2�07 2 Street Recon-CR 73-CR 42 to North Cit Limits Pub Works 300,000 1,000,000 775,000 3,635,000 5,710,000
20D7 2 Ins ecUon Vehicle Re lace#308 Pub Works 30,000 30,000
2007 2 Ins ecHon Vehicle Re lace#309 Pub Works 30,000 30,000
2007 2 Picku R lace#345 Pub Works 33,000 33,000
2007 2 1-Ton Dum Truck fw New Athletic Com lex Pub Works 38,000 38,�00
2007 2 1-Too Picku Re lace#344 Pub Worlcs 45,000 45,000
2007 2 Tractor for New Athletic Com lex Pub Works 50,000 50,000
2007 2 Snowblower for Loader Re lace#220 Pub Works 60,000 60,000
2007 2 Dum Truck Re lace#427 Pub Works 120,000 120,000
2007 2 Miscellaneous E ui .for New Athletic Com lex Pub Worlcs 120,000 120,000
2007 1 Weil#15 Construction Pub Works 1,250,000 1,250,000
� Totals � � � � � 39,000 1,600,000 1,194,400 1,000,000 400,000 775,000 1,250,000 � 10,000 . 10,000 � � � � 4,365,000 10;643,400 � �
Total Levy-Year 2007 2,833,400
(1) CooGng tower funding comes from Arena fund operations/reserves.
(2) Other funding for St.Joseph renovation unknown at this Gme.
(3) Other fundinA for Street Rehabflitation Projects comes from regular SKB User Fees($100,000)and excess SKB Trust Funds($100,000).
(4) Other funding for County Road 73 project from County share of project,City of Inver Grove Heigh[s share of proJect,aod Federal Government share of projecL
(5) Funding for Weli#15 will come from a Water Revenue bond issue.
MSA
Funds
P Buildin Street E ui mnt Park im From Water Sewer Storm Water Sewer Storm Total
Year Level ' Item-Descri Hon De artment CIP Le CIP Lev CIP Lev Assess Fund State Core Core Core UtAit Utilit Ut1it Donations Other Gost �
2008 2 Compressor Arena - 10,000 10.000 I
2008 2 Refri erator&Concession E ui ment q�e�
2008 2 Re lace Skate Tiie - t0,U00 10.000 '
Arena
2008 2 2001 Lease-Purchase 10-Years CouncN 45,000 45,000
115,400 115,400
2008 2 2005 Lease-Purchase 10-Years CouncA 140,000 140,000
2008 2 Hose Re lacement Fire 6,000
2008 2 Re lace Cooler&Freezer in Kitche� Comm Ctr Park 8 Rec �5,ppp 6,000
2008 1 New N ' hborhood Park Built'N-4 Park&Rec 15,000
� 400,000 400,000
2008 1 4 New Radat Units PoYce 5,OW 5,000
2008 1 3 AED Units Defibulators -R lacements Police 6,000
2008 1 Re lace Video/Audio Recordi E ui me�t Police 6,000
15,000 15�000
2008 3 SurveAlaoce E ui eM Police 20,000
2006 1 MDT U rades Police 20.000
50,000 50,000
2008 1 2 S uads Sell Back 2-#5t70&9860 PoNce 50,000 50,000
2008 2 PW Bld Add n LeasetPurch Yr f0 of 20) Pub Works 24,000 10,000 10,000 44,OU0
2008 2 Street Rehabditation Pro'ects See Below Pub Works 1,300,000 200,000 1,500,000
2008 1 CR 42/US H 52 Des' n&ROW Costs Pub Works 500,000 400,000 3,100,000 4,Oo0,000
2008 2 Trader Re lace#514 Pub Works 20,000
2008 2 Str' er far New Athletic Com lex Pub Works 20,000
� 20,000 20,000
2008 2 Gator Multi-Use Cart for New Athletic Gom lex Pub Works 20,000 20,000
2008 2 Fleat Vehicie Re lace 1998 Windstar Van Pub Works 25,000 25,000
2008 2 Bobcat Re lace#418 Pub Works 30,000 30,000
2008 2 Backhoe Re lace#407 Pub Works gp,ppp
2008 . 2 Mower Re lace#68 Pub Works 80,000 86,000
2008 2 Dum Truck Re lace#431 80,000
Pub Works 720,000
120,000
� Totals � � 24,000 1,800,000 817,400 �400,000 400,000 � � - 10,000 10,000 � � 3,365,000 6,826,400
Total Levy-Year 2008 2,641,400
(1) Compressor,Refrigerator 8 Concession Equipment,and Skate Tile funding comes from Arena Fund operationslreserves. �
(2) Other funding fior SUeet Rehabilitatbn Projects comes from regular SKB User Fees(§100,000)and excess SKB Trust Funds{$100,000).
(3) Other funding for County Road 42 J US Highway project from Federal share ot project,State share of project and County share of project.
- MSA '
Pr1a1 funds
Buetd'm Street E ui mnt Park im From Water Sewer Storm Water Sewer Storm Totai
Yea� Level Item-Desc' tion De artment CIP Lev CIP Lev CIP Lev Assess Fund State Core Core Core Utility Utilit Utili Donations Other Cost
2009 2 2001 Lease-Purchase 10-Years Council 115 400
2009 2 2005 lease-Purchase 10-Years Cou�cil 140,000 115,400 '
2009 2 PC Printer Re lacements From 2005 Finance 20,000 140,U00
2009 2 PC File Server Re lacements Both-From 2006 Finance 50,000 20,000
2009 2 PC Workstation U rades From 2005 Finance 70,000 50,000
2009 2 1/2 Ton 4x4 Picku Re iace 7999 VeMcle Fire 30,000 70,004
2009 2 Re lace Ice-Maker in Kitchen Comm Ctr Park 8 Rec 9,000 30,000 '
2009 2 Resurface Tennis Courts Park&Rec 16,000 9,Oo0
2009 1 Naw Nei hborhood Park Buik N-5 Park&Rec 600,000 16,000
2009 3 Remodei Offices Booki Area S interview Rms Police 70,000 600,000
2a09 1 Dictation U rades or Re lacements PoGce 10,000 70,000
2009 1 4 AED Units Defibulators -New U�its Pofice 12,000 10,000
2009 1 E f inentfor New S uad PoNce t2 ppp 12,000
2U09 2 S eed Trailer witb DaW Collec6on Poiice 15,000 12.000
2009 1 4 S uads Sell Back 3-#620,630 8 670-t New Police 110,000 15,000
2009 2 PW BId Add'n Lease/Purch r 11 of 20 Pub Works 24,000 110,OOo
2009 2 Street Rehabilitation Pro'ects See Below Pub Works 1,300,000 - 10,000 10,000 44,000
2009 1 CR 42/US H 52 ROW Costs&ConstrucHon Pub Works 275,000 2a�,000 1,500,000
2009 2 Picku (R lace Buildin De artmenYs Pub Works 400,000 14,325,000 15,000,000
25 000 25,000
2009 7 Brush Chi er Addition Pub Works 30,000
2009 2 Tree S ade Re lace#406 � Pub Works � 30,000 � � � �� 30,000 . � � '�.
- 2009 1 Water Truck{Addition Pub Works 100,000 30,000
2009 2 Dum Truck(Re lace#432 Pub Works 120,000 100,000
2009 1 Well#16 Land Ac uisition Pub Works 120,000
' 2009 1 Twin Puddles Oudet Sfortn CIP 11 Pub Works 250.000 250,000
� . . . � 120,000 . t20,000 � . � . ��,.
Totals 94,000 1,575,000 914,400 600,000 400,000 250,000 120,000 10,000 10,000 14,525,000 18,498,400
Total Levy-Year 2009 2,583,400
(1) Other funding for SVeet Rehabiiitation Projects comes from regular SKB User Fees($100,000)and excess SKB Trust Funds($100,000).
(2) Other funding for County Road 42/US Highway project from Federal share of project,State share of project and County share of project.
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_. MSA
F�nds
Pf1O° Buildi Stseet E ui mnt Park Im Feom Water Sewer Storm Water Sewer Storm Tatal
Year Levei Item-Descri Eion De artment CIP Lev CIP Lev C�P Lev Assess Fund State Core Core Core U61i Utilit Utili Donations Other Cost
i
2010 2 Z009 Lease-Purchase 10-Years Counctl 115,400 115,400 �
2010 2 2005 lease-Purchase 10-Years Council 140,000 140,000 I
2010 2 4xd Grass Ri Re tacement '00 Vehicle Fire 35,000 35,000
201Q 3 Pro I Evidence Mana emeoi Software PoAce 25,000 25 Q00
2010 1 3 S uads(SeN Back 3-#731,740 8 780 PoNce 90,d00 90,000
2070 2 PW Bid Add'n Lease/Purch r 12 of 20 Pub Works 24,000 10,000 10,000 qq pp�
201D 2 Street RehabilitaUon Pro'ects See Be�ow Pub Works 1,300,000 200,000 1,500,000
2010 2 Picku Re lace#331 Pub Works 33,000 33,000
2010 2 Picku Re lace#332 Pub Works 33,OOQ 33,000
2010 2 Pick Re lace#333 Pub Works 33,000 33,000
2010 2 Pick Re tace#334 Pub Works 33,000 33,000
2010 2 Picku Re ace#343 Pub Works 33,000 33,000
2010 2 Dum Truck Re lace#433 Pub Wwks 120,000 120,000
2010 2 Dum Truck Re lace#434 Pub Wwks 130,000 130,000
� 2010 2 Loader(Re)ace t995 Pub Works 200,000 200,000
2070 t Weil#16 Construction Pub Wwks 1,250,000 1,250,000
2010 1 Water Stora e Facifi Pub Works 2,700,000 2,700,000
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Totals 24,000 1,300,000 1,020,400 3,950,000 10,000 10,000 200,000 6,574,400
To[al Levy-Year 2010 2,344,400
(7) Other funding for Street Rehabilitation Projects comes4rom reguiar SKB User Fees($100,000)and excess SKB TNst Funds($100,000).
(2) Funding for Wel�#16 and ihe Water Storage Facility will come,from a Water Revenue bond issue.
- �a
- Funds
Prio Buiidi Street E ui mnt Park Im From Water Sewer Storm Water Sewer Storm Total
Year Level Item-Desc'tion De artment CIP Le CIP Lev CIP Lev Assess Fund State Core Core Core Utili UtAit UGIi Donations Other Cost '
20i1 2 2001 lease-Purchase 10-Years Councii 115,400 115,400
2011 2 2605 Lease-Purchase 10-Years Council 140,000 140,000
2011 2 PC Printer Re lacements From 2007 Finance 20,000 20,000
2011 2 PC Workstation U rades From 2007 Finance 70,000 70,000
2011 1 New Ne' hborhood Park Built N-6 Park B Rec 350,000 350,000
2011 2 Add 5 Portabie Radios Police 10,000 10,000
2011 1 E ui ment for New S uad Police 12,000 12,000
2001 1 Poflce Records&CAD U rede Police 60,000 60,000
2011 7 4 S uads SeN Back 3-#190,450,&8710-1 New Police 120,000 120,000
2011 2 PW Bld Add'n Lease/Purch r 13 of 20 Pub Works 24,000 10,000 10,000 44,000
2011 1 Ci Sho Addidon Pub Wwks 250,000 - 2�Q Q��
2071 2 Street Rehabilitation Pro'ects See Below Pub Works 1,300,000 Z00,000 1,500,000
2071 2 Picku Re lace#311 Pub Works 33,000 33,000
2011 2 Picku Re lace#372 Pub Works 33,000 33,000
2011 2 1-Ton Picku Re lace#310 Pub Works 45,000 45,OOo
2071 1 Dum Truck Addition Pub Works 120,000 120,oW
2011 2 Vac Truck Re lacement 1995 Vehide Pub Works 300,000 300,000
i
I
Totais 274,000 1,300,000 778,400 350,000 300,000 10,000 10,000 200,000 3,222,400
Total Levy-Year 2011 2,352.400
(1) Other funding for Street Rehabilitation Projects comes from regular SKB User Fees($100,000)and excess SK8 Trust Funds($100,000).
__ MSA
Priori Buiid'ur Street E mr� Funds
Year Levat Item-pegcrf tion Park Im From Water Sewer Storm Water Sewer Stotm
De artment CIP le CIP Lev GIP lev Assess Fund State Core Core Core U61i Utllt Utilit Donations Other Cotst
2�12 2 2005 Cease-Purchase 10-Years Council
2U12 Z CIP Reserves-Future Street Pro'ects 140,000
Council 700,000 140,000
2012 2 PC File Server Re acements Both-From 2009 Finance
2012 t Naw Nei hborhood Park BuiR N-7 -- 50,000 700,000
20t2 3 Reconfi ure Potice griefm Room Park 8 Rec 350,000 50,000
2�12 7 Re ace Tactical Geaz Police 30,000 350,000
2012 1 MDT U rades Police — 30,000 - 30,000 I
2012 1 4 S uads SeN Back 4-#920,930,941&970 PON'ce 40,000 30,000
Z��2 2 PW Bid Add'n Lease/Purch Yr 14 of 20 Pub Wotks 24,000 120��� 40,000
2�12 2 Street Rehabilitation pro'ects See Below Pub Works t0,000 t0 000 120,000
2U12 2 Picku Re lace#342 7,300,000 44,000
2��2 1 1-Ton Picku Addition Pub Works 35,000 200,000 1,500,000
Pub Works 45,000
– 35,000
45,000
Totais 54,000 2,000,000 460,000 350,000 / '
10,000 10,000 200,000 3,084,000
Totat Levy-Year 2012 2.514,000
(�I Other fu�ding for Street RehabUitation Projects comes from regular SKB User Fees($100,000)and excess SKB Trust Funds($100,000).
MSA 'i
Funds I
' PHori BuGdin Street E ui mnt Park im from Water Sewer Storm Water Sewer Storm Total
Year Level Item-Descri Gon De aRment Clp Lev CIP lev CIP Lev Assess Fund State Cwe Core Core Util' Utilit Utili Donations Other Cost !
2013 2 2005 Lease-Purchase 10-Years Councp 140,000 140,000
2013 2 CIP Reserves-Future Street Pr ects Council 800,000 600,000
2013 2 PC Printer Re iacements From 2009 Finance 20,000 20 000
2013 2 PC Works[ation U rades From 2009 Finance 70,000 70,000
2013 2 1/2 on 4x4 Pick Re lace 2003 Vehicle Fire 30,000 30,000
2013 1 Re lace Emer en E ui ment in S uads Police 20,000 20,000
2013 2 Re lace Video E ui ment in S uads Police 20,000 20,000
2013 1 3 S uads Sell Back 3- 1037,1040 8 1080 Police 90,000 90,000
2013 2 PW Bid Add'n Lease/Purch Yr 15 of 20 Pub Works 24 000 10,000 10,000 44,000
2013 2 Street Rehabilitation Pro'ec[s See Below Pub Works 1,300,000 200,000 1,500,000
2013 2 Park&Rec Van Re lace#301 Pub Works 30,000 30,000
2013 1 Well#17 Construction Pub Works 1,500 000 1,500,000
Totals 24,000 2,400,000 420,000 1,500,000 10,OQ0 10000
. 200 000
. � . 4 264 000 . . .
Total Levy-Year 2013 2.544,000
(t) Other funding for Street Rehabilitation Projects comes from regular SKB User Fees($100,000)and excess SKB Trust Funtls($100,000). �
(2) ' Funding for Well#17 wi8 come from a Water Revenue bond issue.
__ MSA
Funds
Priori Buildin Street E ui mnt Park Im From Water Sewer Storm Water Sewer Stortn Total
Year Level Item-Descri 'on De artment CIP Lev CIP Lev CIP Lev Assess Furtd State Core Core Core Utilit Udlit UWit Donations Other Cost
2014 2 2005 Cease-Purchase 70-Years Council 140,000
20f4 2 CIP Reserves-Future Street Pro'ects CounciF 1,000,000 140,000
, 2014 2 Refurbish SCBA Gom ressor Fire 5 000 1,000,000
2014 1 Re lace Lasers 2 PWice 7fl,000 5,000
2014 2 Re Iace De artment Lon Guns PoRce �p�ppp 10,000
2014 1 3 S uads Seli Back 3-#t 170,1112&9121 pOiice 85,000 10,000
2074 2 PW Bld Add'n LeaselPurch Yr 16 of 20 Pub Works 24,000 65,000
2014 2 StreetRehabilitatio�Pro'ects See Below Pub Works Y,300,000 70,000 10,000 44,000
200,000 1,500,000
Totals 24,000 2,300,000 250,000 10,000 10.000 200,000 2,794,000
Total Levy-Year 2013 2,574.000
(1) Other funding for SVee[Rehabilitatlon Projects comes from regular SKB User Fees($100,000)and excess SKB Trust Funds($100,000).
I
-_ - MSA
Funds ' i
Prior' Buildin Street E ui mnt Park Im From Water Sewer Storm Water Sewer Storm
Year Level ttem Descr' tion Totai i
De aRment CIP Le CIP Lev CIP Lev Assess Fund State Core Core Core Utili UMi Utilit Dona6ons Other Cost
2015 2 2005 Lease-Purchase 10-Years 10th Year CouncA 140,000
2015 2 CIP Reserves-Future Street Pr ects Council 1,000,000 ' 140 000
, 2015 2 PC Fi{e Server Re Iacements Both-From 2012 Finance 50,000 ' 1,000,000
2015 1 Re lace/U rade Dictation E ui ment Pofice 20 000 50,000
2015 1 4 S uads Se118ack4-#1220,1230,t241&1270Police �yp�ppp 20,000
2 Street Recon-CSAH 38-H 3 to Bacardi Pub Works 1,076,400 — 120,000
152,000 1,228,400
1 North Central Sanita Sewer Extension Pub Works
2 Street Recon-CR 33-CR 42 to 145th Street Pub Works 350 000
1 Street Const-Bouldar Avenue Extension Pub Works 1,150,000 t,500,000
2015 2 PW 81d Add'n Lease/Purch Yr 77 of 20 Pub Works 24,000 3,000,000 3,000,000 '
2015 2 Street RehabNita6on Pro'ects See Below Pub Works 10,000 10,000 44,000
Totals 24,000 2,076,400 330,000 152,000 350,000 10,000 10,000 4,150,000 7,102,400
Totai LevY-Year?��p 2,430,400
(�) Future costs associated wi[h the sanitary sewer will include extensive street reconstruction on the following sUeets
124th St,125th St,Blanca Ave W,128th St,Bolivia Ave,130th St W,Biscayne Ave,Bengal Ave,729th St W,CR 38,132nd Cou�t and Bonnaire Path. Costs and funding are not avadable at this time.
(z) Other funding for County Road 33 project from County share of project and City of Apple Valley share of project �
(3) Other funding for Bouider Avenue extension will come from a Port Authority bond issue.
'
City of Rosemount,Mi�nesota
Estimated Tax Impact-Based on Net Tax Capacity
Generai Obligation Capital improvement Bonds,Series 2005A
Deposit to Construction 2,500,000.00
Max.Annuai Levy $219,371
Less Existing Levy $0
Estimated 20U5/2006 Increase 5219,371
Market Net Tax 2005/6 TNTC 521,695,869
Value(a) Capacity Tax Rate lncrease(b): 1.011°/a
Homestead Residential
150,000 1,500 15
200,000 2,000 20
250,000 2,500 25
300,000 3.000 30
Commercialtindustrial
$100,OQ0 $ 1,500 $ 15
150,000 2�250 23
250,000 4,250 43
500,000 9,250 94
1,000,000 19,250 195
Apartrnenls(4 or More Units)
$ 50,000 $ 625 $ 6
75,000 938 9
100,000 1.250 13
200,000 2,500 25
500,000 6,250 63
Agricultural Homes#ead
Value perAcre $ 1,700
Dweiling Est. Net Tax
Market c Acres Total ENfV(d) Ca a '
$ 100,000 80 $ 236,DOU $ 1,756 $ 18
160 372,000 2�504 25
320 644,000 4�000 40
640 1,188,000 9,180 93
Agricultural Non-Homestead
Net Tax
Acres Total EMV(d) ac'
80 $ 136,000 $ 1�360 $ 14
160 272,OD0 2,720 28
320 544,000 5,440 55
640 1,088.000 10,880 110
(a) Estimated market value is the basis from which the net tax capacity is calculated
This value rs not necessanly the pnce the property would bring if sold
(b) The tax rate inc�ease is derived by dividing the average debt service by the tarable net tax
capacify. The dollar increase in faxes payable is derived by mu�iplying fhe net tax capacify
by the tax capacity rate increase.
(c)lnciudes house,garage and one acre with an estimated market value of$?00,000.00
(d)Estimated va/ue pertittab/e acre is$1,700.00
Note: Changes in interest rates,timing or size of fhe bond issue may cause sign�cant
alterations of this information.
; � ��JE"IT'ti�5'��{�
`
The Rosemount Town Pages �
AFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA) CITYOFROSEMOUNT
)ss. _.��.
� � � COUNTY OF DAKOTA ) � � � NOTICE OF� .�:� �. � � �
� �� � � � PUBLIC�EARING�
Chad Richazdson,being duly sworn, on oath says that he is an authorized . ' _. ;,
agent and employee of the publisher of the news a er, known as The �xAP�orosnLToanoriac,�ex�ar,' ;
P P n�Rov�rrr rLaiv..rm�LssunxcE
Rosemount Town Pages, and has full knowledge of the facts which are °FG�o�ME�Pr�a�°Borr�`� _, 1
stated below: � � � xo waonr r��a�-eo���_ ,----� �� �
(A) The newspaper has complied with all of the requirements constituting ,
qualification as a legal newspaper, as provided by Minnesota Statutes NOTICE LS HEREBY GIVFN,that the Councit of �
t6e City of Rosemoun[,Minnesota will mset oq Aprit , .
- 311A.02,331A.07 d other appl' ab aws,as amended. s;zoos 8c r.3p p.m.�n m�c�,�api c���ec�ne
B j i tie printed � ' CitY.Halt, 2875 Id5 Slreet R'esy;Rosemouut, ��
Mionesota,fo�ihe purpose of`eo¢ducUng a putilic .�
heariag on a.�roposal to adopt a capita!-3mprovement�:� � �
. ptan and approve the issuance'of genera�,obligation �-- _ � � �
. � - � � capital improyement�plaa'bonds in the pnncipal ��.. � -
� - � � amount not to excsed$2.6�O�OOQ.� � � �
which is attached, was cut from the columns of sa' newspaper, and was Au��n$��e�r�a�y a�,��a i�n�a u cn4
printed and published once each week for successive ame and place set forth aboye
weeks;it was first published on Thursday,the day of If a petifion cequesting a vou on the issuance of the � ` _
�� l�>�� ,2005 and was thereafter rinted and ublished on every b°nds is signed by voters equal ta five percent of tlio i
P P v�es cast in Me City in the last genernr election and is
Thursday,to and including Thursday,the day of fi����+�e ciry a'imin t�icy days�to�r��p�bv� �
. hearing,the 6onds may only be issued upon ofitaining ,
_ ,2��5; and printed below is a eopy of the �e approval of the majority of the wters voting on the
lower case alphabet from A to G, both inclusive, which is hereby 4"`S°°°�'SS"'°g m`b°na�
acknowledged as being the size and kind of type used in the composition and �a��a�s„oanie�,8n�oa��u�'n�g�
. - . make written comment by.wn6ng to I,inda'7endnkk,. .;
publication of the notice: e�ri ci�rx,,e�ty x�ti,_Zsvs;la�w ��roec:�v�9�, ,
. . Rosemount� Minneso}a 55068..Wdttezi coinmenu �.�, �
� � must be received prior to tAe pubGc hearing '� �
� . abcdefghijklmnopqrstavwxyz Daud this 15th day of March 2605� � �; ' �
� BY ORDER OF TF�ROSEMOUIVT GITY COYJN-`•�i � � . �
. _._-------� CII,[ -
. . . B Y' � �� Is/Linda I Ienrink C"ity Clerk �� - .
.�,(� �ty of Rosemouut,Dakota County Mionesota .
Subscribed and swo to before me on this_�.�._.J ►'i day �
Of �,�005. � r . Atu�lfnryaidsbndservicesareavailabte-Pkasecoxr�'� .
- tacr rhe City Clerk a[(65I)322 2A03,or PDD NO: I
. p � (651)423-6279,to make a requess one�week prior to , .
.. � � . iG2 meeNng.:��.Ecamples of muiliary aidr or service.r ',' . .
'. . . may:nclude:.'sign language interpreter,�::assistive t'u- ! � � .
. tenueg kit,accessib7e meetueg[ocatian,etc � . . ��
�_Notary ublic,.� . siis�os t , �
AFFIDAVIT �
DAWiN M. SMlTH µ
�• �" N07ARY pUBUC-MiNNESQTA
. � ' � . �ry CommUaton E�Ire�den,at,2oto
FE . -
First Insertion:���% r e
File# o��t`�C���� I�L�� ... ..� � 7 ���J
• _�_inches,@$���/in=���� , �.�, x
Additional Insertions:
inches,@$_Jin=
Affidavit fee $ �
Total $�+�.
�
,
CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
Ci�y Council Meeting Date: April 5, 2005
AGENDA ITEM: 2005A G.O. Capitaf Improvement Plan AGENDA SECTION:
Bond Issue—Authorizing Issuance and Old Susiness
Settin Bond Sale
PREPARED BY: Jeff May, Finance Director AGEN��q�►�i �
1
ATTACHMENTS: Resolution and Recommendations APPROVED BY:
RECOMMENDED ACTION: Motion to adopt RESOLUTtON PROVtDING FOR E
GOMPETITIVE NEGOTIATED SALE OF $2,630,000 GENERAL OBLIGATION CAPITAL
IMPROVEMENT PLANBONDS, SERIES 2005A:
ACTION:
ISSUE The authorization #o issue bonds for the construction of Fire Station #2.
BACKGROUND This item is on the agenda for your consideration in authorizing the
issuance and setting the sale of General Obligation Capital Improvement Plan Bonds for#he
construction of Fire Station #2. The details of this projectwere discussed during the Public
Hearing earlier this evening.
Bids will be open until Tuesday, May 24, 2005, at 11:00 A.M. at the offices of Springsted
Incorporated. The bids will be tabulated there and then consideration for award of the Bonds
will be by the City Council at 6:30 P.M., Central Time, of the same day.
SUMMARY
Recommend the above motion. �
, �
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2005
RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED
: SALE OF$2,630,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN
BONDS, SERIES ZOOSA
WHEREAS, the City Council of the City of Rosemount, Minnesota,,has heretofore determined
that it is necessary and expedient to issue its $2,630,000 General Obligation Capital
Improvement Plan Bonds, Series 2005A(the "Bonds")ta finance the construction of a fire
statian within the City; and
WHEREAS, the City has retained Springsted Incorporated, in Saint Paul,Minnesota
("Springsted"), as its independent financial advisor and is therefare authorized to sell these
obligations by a competitive negotiated sale in accordance with Minnesota Statutes, Section
475.60, Subdivision 2(9); and -
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Rosemount,
Minnesota, as follows:
l, Authorization; Findin�s. The City Council hereby authorizes Springsted to salicit bids
for the competitive negotiated sale of the Bonds.
- 2. Meetin ;g Bid Opening. This City Council shall meet at the time and place specified in
the Terms ofProposal attached hereto as Exhibit A for the purpose of considering sealed bids
for, and awarding the sale of, the Bonds. The Administrator, or his designee,shall open bids at
the time and place specified in suc�Terms of ProposaL
3. Terms of Proposal. The terms and conditions of the Bonds and the negotiation thereof '
are fully set forth in the "Terms of Proposal° attached hereto as Exhibit A and hereby approved
and made a part hereof.
4. Official Statement. In connection with said competitive negotiated sale,the
Administrator,Finance Director and ather officers or employees of the City are hereby
authorized to cooperate with Springsted and participate in the preparation of ari official statement
for the Bonds, and to execute and del�ver it on behalf of the City upon its completion.
i�soz92�t
�
ADOPTED this Sth day of April, 2005.
William H. Droste,Mayor
J
ATTEST:
Linda J. Jentink, City Clerk
,
Motion by: Seconded by:
Voted in favar:
Voted Against:
Members Absent:
1750292v1 2
CERTIFICATE
STATE OF MINNESOTA )
COUNTY OF DAKOTA ) ss
CITY OF ROSEMOUNT )
I, Linda J. Jentink, duly appointed, acting and qualified City Clerk of the City of Rosemount do -
he�eby certify that I have exa�nined the City of Rosemount records and the Minute Book of said
City for the meeting of the Sth of April, 2005 and that the attached copy of the Resolution 2005A
RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF
$2,630,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS,
SERIES 2005A was approved and is a true and correct copy of the City Proceedings relating to
said Resolution.
IN WITNESS WHEREOF,I have hereunto set my hand and seal of said City this day of
April, 2005: .
Linda J. Jentink, City Clerk
City ofRosemount `
Dakota County, Minnesota
i�soa9z�i
THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS ISSUE
ON ITS BEHALF. PROPOSALS WII.,L BE RECEIVED ON THE FOLLOWING BASIS:
TERMS OF PROPOSAL
$2,630,000
CITY OF ROSEMOUNT, MINNESOTA
GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS,
SERIES 2005A
(BOOK ENTRY ONLI�
Proposals for the Bonds will be received on Tuesday, May 24, 2005, until 11:00 A.M., Central Time,
at the offices of Springsted Incorporated, 380 Jackson Street, Suite 300, Saint Paul,Minnesota, after
which time they will be opened and tabulated. Consideration for award of the Bonds will be by the
City Council at 6:30 P.M., Central Time, of the same day.
SUBMISSION OF PROPOSALS
Springsted will assume no liability for the inability of the bidder to reach Springsted prior to the time
of sale specified above. All bidders are advised that each Proposal shall be deemed to constitute a
contract between the bidder and the City to purchase the Bonds regardless of the manner in which the
Proposal is submitted.
(a) Sealed Bidding Proposals may be submitted in a sealed envelope or by fa�c (651) 223 3046 to
Springsted. Signed Proposals,without final price or coupons,may be submitted to Springsted prior to
the time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal price
and coupons, by telephone(651) 223 3000 or fax (651) 223 3046 for inclusion in the submitted
ProposaL
OR ,
(b) Electronic Biddin�. Notice is hereby given that electronic proposals will be received via
PARITY�. For purposes of the electronic bidding process, the time as maintained by PARITY� shall
constitute the official time with respect to all Bids submitted to PARITIT�. Each bidder shall be
solely responsible for making necessary arrangemerats to access PARITYOR for purposes of submitting
its electronic Bid in a timely manner and zn campliance with the requirements of the Terms of
Proposal. Neither the City, its agents nor PARITY� shall have any duty or obligation to undertake
registration to bid for any prospective bidder ar to provide or ensure electronic access to any qualified
prospective bidder, and neither the City, its agents nor PARITY� shall be responsible for a bidder's
failure to register to bid or for any failure in the proper operation of, or have any liability for any
delays or interruptions of or any damages caused by the services of PARITY�. The City is using the
services of PARITY� solely as a communication mechanism to conduct the e�ectronic bidding for the
Bonds, and PARITY� is not an agent of the City.
If any provisions of this Terms of Proposal conflict with information provided by PARITY�,this
Terms of Proposal shall control. Further informatian about PARITY�, including any fee charged,
may be obtained from:
PARITY�, 1359 Broadway, 2nd Floor,New York,New York 10018
Customer Support: {212)549-5000
i�soa9z�i A-1
..' . . . . . � . � . . . . . . � . . . .
DETAILS OF THE BONDS
The Bonds will be dated June 15, 2005, as the date of original issue, and will bear interest payable on '
February 1 and August l of each year,cornmencing February l, 2006. Interest will be computed on the
bas�s of a 360-day year of twelve 30-day months.
The Bonds will mature February 1 in the years and amounts as follows:
2007 $ 95,000 2012 $115,000 2017 $140,400 2022 $170,000
2008 $100,000 2013 $120,000 2018 $145,000 2023 $180,000
2009 $105,000 2014 $125,004 2019 $150,400. 2024 $190,000
2010 $105,000 2015 $130,000 2020 $155,000 2025 $195,000
2011 $110,000 2016 $135,000 2021 $165,000
Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds
and term bonds. All terrn bonds shall be subject to mandatory sinking fund redemption and must
conform to the maturity schedule set forth above at a price of par plus accrued interest to the date of
redemption. In order to designate termbonds,the proposal must specify"Years of Term Maturities"in
the spaces provided on the Proposal Form.
BOOK ENTRY SYSTEM
The Bonds will be issued by means of a book entry system with no physical distribution of Bonds
made to the public. The Bonds will be issued in fully registered form and one Bond,representing the
aggregate principal arnount of the Bonds rnaturing in each year, will be registered in the name of Cede
& Co. as nominee of The Depository Trust Company("DTC"), New York,New York, which will act
as securities depository of the Bonds. Individual purchases of the Bonds rnay be made in the principal
amount of$5,000 or any multiple thereof of a single maturity through book entries made on the books
and records of DTC and its participants. Principal and interest are payable by the registrar to DTC or
its naminee as registered owner of the Bonds. Transfer of principal and interest payments to
participants of DTC will be the responsibility of DTC; transfer of principal and interest payments to
beneficial owners by participants will be the responsibility of such participants and other nominees of
beneficial owners. The purchaser, as a condition of delivery of the Bonds,will be required to deposit
the Bonds with DTC.
REGISTRAR
The City will name the registrar,which shall be subject to applicable SECxegulations. The City will
pay for the services of the registrar.
OPTIONAL REDEMPTTON
The City may elect on February 1, 2016, and on any day thereafter, to prepay Bonds due on or after
February l, 2017. Redemption may be in whole or in part and if in part at the option of the City and in
such manner as the City shall determine. If less than all Bonds of a maturity are called for redemption,
the City will notify DTC of the particular amount of such maturity ta be prepaid. DTC will deternune
by lot the amount of each participant's interest in such maturity to be redeemed and each participant
will then select by lot the beneficial ownership interests in such maturity to be redeemed. All
prepayments shall be at a price of par plus accrued interest.
i�so292�i - A_2 _:
SECURITY AND PURPOSE
The Bonds will be general obligations of the City for which the City will pledge its full faith and credit
and power to levy direct general ad valorem taxes. The proceeds wiil be used to finance the
construction of a fire station in the City.
TYPE OF PROPOSALS
Proposals shall be for not less than $2,595,810 and accrued interest on the total principal amount of the
Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposit")in the form of a certified
or cashier's check or a Financial Surety Bond in the amount of$26,300,payable to the order of the
City. If a check is used, it must accompany the proposaL If a Financial Surety Bond is used,it must
_ be from an insurance company licensed to issue such a bond in the State af Minnesota, and
preapproved by the City. Suc�i bond must be submitted to Springsted Incorporated prior to the opening
of the proposals. The Financial Surety Bond must identify each underwriter whose Deposit is
guaranteed by such Finaneial Surety Bond. If the Bonds are awarded to an underwriter using a
Financial Surety Bond, then that purchaser is required to submit its Deposit to Springsted Incorporated
in the forrn af a certified or cashier's check or wire transfer as instructed by Springsted Incarporated
not later than 3:3Q P.M., Central Time, on the next business day following the award. If such Deposit
is not received by that time,the Financial Surety Bond may be drawn by the City to satisfy the Deposit
requirement. The Deposit received from the puxchaser, the amount of which will be deducted at
settlement and no interest will accrue to the purchaser, will be deposited by the City. In the event the
purchaser fails to comply with the accepted proposal, said amount will be retained by the City. No
proposal can be withdrawn or amended after the time set for receiving proposals unless the meeting of
the City scheduled for award of the Bonds is adjourned, recessed, or continued to another date without
award ofthe Bonds having been made. Rates shall be in integral multiples of 5/l00 ar 1/8 of 1%.
Rates must be in level or ascending order. Bonds of the same maturity shall bear a single rate from the
date of the Bonds to the date of maturity. No conditional proposals will be accepted.
AWARD
The Bonds will be awarded on the basis of the lowest interest rate to be determined on a true interest
cost(TIC)basis. The City's computation of the interest rate of each proposal, in accordanee with
customary practice, will be controlling.
The City will reserve the right to: (i)waive non-substantive informalities of any proposal or of matters
relating to the receipt of proposals and award of the Bonds, (ii)re}ect all proposals without cause, and
(iii)reject any proposal that the City determines to have failed to comply with the terms herein.
BOND INSURANCE AT PURCHASER'S OPTION
If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at
the option of the underwriter, the purchase of any such insurance policy or the issuance of any such
commitment shall be at the sole optian and expense of the purchaser of the Bands. Any increased
costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the
purchaser, except that, if the City has requested and received a rating on the Bonds from a rating
agency, the City will pay that rating fee, Any other rating agency fees shall be the responsibility of the
purchaser.
Failure of the municipal bond insurer to issue the policy after Bond�have been awarded to the
purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on the
Bonds.
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CUSIP NUMBERS
If the Bonds qualifyfor assignment of CUSIP numbers such numbers will be printed on the Bonds,but
neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute
cause for failure or refusal by the purchaser to accept delivery of the Bonds. The CUSIP Service
Bureau charge for the assignment of CUSIP identification numbers shall be paid by the purchaser.
SETTLEMENT
Within 40 days following the date of their award, the Bonds will be delivered without cost to the
purchaser through DTC in New York, New York. Delivery will be subject to receipt by the purchaser
of an approving legal opinion of Briggs and Morgan,Professional Association, of Saint Paul and
Minneapolis, Minnesota, and of customary closing papers, including a no-litigation certificate. On the
date of settlement, payment for the Bonds shall be made in federal, or equivalent, funds that shall be
received at the offices of the City or its designee not later than 12:00 Noan, Central Time. Unless
compliance with the terms of payment for the Bonds has been made impossible by action of the City,
or its agents, the purchaser shall be liable to the City for any loss suffered by the City by reason of the
purchaser's non-compliance with said terms for payment.
CONTINUING DISCLOSURE
Onthe date ofactual issuance and delivery of the Bonds,the City will execute and deliver a
Continuing Disclosure Undertaking(the "Undertaking")whereunder the City will cavenant for the
benefit of the owners of the Bonds to provide certain financial and other information about the City
and notices of certain occurrences to information repositories as specified in and required by SEC Rule
15c2-12ro)�5)•
OFFICIAL STATEMENT
The City has authorized the preparation of an Official Statement containingpertinent information
relative to the Bonds, and said Official Statement will serve as a nearly final Official Statement within
the meaning of Rule 15c2-12 of the Securities and Exchange Commission. For copies of the Official
Statement or for any additional information prior to sale, any prospective purcha.ser is referred to the
Financial Advisor to the City, Springsted Incorporated, 380 Jackson Street, Suite 300, Saint Paul,
Minnesota 55101,telephone(651)223 3000.
The Official Statement,when further supplemented by an addendum or addenda specifying the
maturity dates, principal amounts and interest rates of the Bonds,together with any other information
required by law, shall constitute a"Final Official Statement"of the City with respect to the Bonds, as
that term is defined in Rule 15c2-12. By awarding the Bonds to any underwriter or underwriting
syndicate submitting a proposal therefor, the City agrees that,no more than seven business days after
the date of such award, it shall provide without cost to the senior managing underwriter of the
syndieate to which the Bonds are awarded 100 copies of the Official Statement and the addendum or
addenda described above. The City designates the senior managing underwriter of the syndicate to
which the Bonds are awarded as its agent far purposes of distributing copies of the Final Official
Statement to each Participating Underwriter. Any underwriter delivering a proposal with respect to the
Bonds agress thereby that if its proposal is accepted by the City(i) it shall accept such designation and
(ii) it shall enter into a contractual relationship with all Participating Underwziters of the Bonds for
purposes of assuring the receipt by each such Participating Underwriter of the Final Official Statement.
Dated April 5, 2005 BY ORDER OF THE CITY COUNCIL
/s/Linda Jentink
City Clerk
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