HomeMy WebLinkAbout5.m. Water Core Transfer to Project 221EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: November 5, 1991
AGENDA ITEM:
AGENDA SECTION:
Water Core Transfer to Project 221
Consent
PREPARED BY:
AGENDA11MM
'YY1I
Jeff May, Finance Director
ATTACHMENTS: Copy of Transfer, Page from
APP VE B .
Springsted Recommendation 1991B Bond Issue
Attached is a transfer from Fund 605, the Water Core Fund, to
Fund 422, the Construction Fund for Project 221 - Country Hills
4th Addition Project. This transfer will go directly to the
Construction Fund rather than to the Debt Service Fund for this
issue. By doing this, we will be reducing the amount that we need
to finance on this project by $7,200. The Utility Commission
approved this transfer November 4, 1991.
RECOMMENDED ACTION:
Approve the transfer from Fund 605 to Fund 418, approved previously
by the Utility Commission November 4, 1991, to supplement the 1991B
Bond Issue proceeds for Project 221.
COUNCIL ACTION:
` TRANSFER FORM
Transfer from: Amount to betransfered:
Paid-up Debt Sery Fund 102 - 49300 - 01 - 710 $ -
EDA Funds 201 - 4000 - 01 - 710 $
MSA Funds 203 - 49003 - 01 - 710 $
Water Core Facility Funds 605 - 49501 - 01 - 710 $ J
Sewer Core Facility Funds 606 - 49502 - 01 - 710 $
Storm Sewer Surcharge Funds 607 — 49503 - 01 - 710 $
Water Funds 601 = 49400 - 01 - 710 $
Sewer Funds 602 - 49450 - 01 - 710 $
Other Funds _ - - 01 710 $
- 01 - 720 $
Transfer to:
_ - 39201 - 00 - 000
39202 - 00 - 000
39203 - 00 - 000
(► --Nc-I at, ti. -s V TN A, ,v � -39204 - 00 000
- 39205 - 00 - 000
_ - 39206 - 00 - 000
_ - 39207 - 00 - 000
_ - 39208 - 00 - 000
_ - 39209 - 00 - 000
Amount to be
transfered in:
$
(Transfer
from
Gen'l Fund)
$
(Contribution
from Enterprise Funds)
$
(Transfer
from
)
$ I J% gD.0 Q
(Transfer
from
Water Hook -Up Core Fund)
$
(Transfer
from
Sewer Hook -Up Core Fund)
$
(Transfer
from
Storm Sewer Connect Fees)
$
(Transfer
from
EDA Fund)
$
(Transfer
from
MSA Fund)
$
(Transfer
from
Paid-up Debt Sery Fund)
2 oe I
Authorized by: Department: i
Date authorized:
Reason for transfer:i-t•R.-jSFe W p,
r Sr(vOke c�F �'�� � ,fid r
►Rxt?L�{
CywS .�c� t� �..
N1, l� lii.�'1� ! .h 1 up PR4,4V-(
S! No—iey'&*4
foA/
General Journal Entry:
L - 10100
104_
104
y - 3920 - 00 - 000
y11 - 29300
Los - 29400
U25_ -4S2f 01 - 71 0 7 A03. J
crus - 10100
- 104_
- 104
General journal entry entered by:
Date entered: - -
Journal Entry Type: _(Normally will be Type 4)
Journal Entry 1:
-7 4-UJ.JJ
C . t
-
16655 West Bluemound Road
Construction Engineering
Suite 290
Engineering Design
Brookfield, WI 53005-5935
Administration
(414) 782.8222
Contingency
Fax: (414) 782-2904
Total Project Costs
2739 Second Avenue S.E.
Less: Water Core Funds
Cedar Rapids, IA 52403.1434
Plus: Capitalized Interest (to 2-1-93)
(319) 363-2221
;'; _..... Fax: (319) 363-6999
10,985
Allowance for Discount Bidding
3,445
October 15, 1991
Mayor Vernon J. Napper
Members, City Council
Mr. Stephan Jilk, Administrator
Mr. Jeff May, Finance Director
City of Rosemount
2875 -145th Street West
Rosemount, MN 55068
SPRINGSTED
PUBLIC FINANCE ADVISORS
85 East Seventh Place
Suite 100
Saint Paul, MN 55101-2143
(612)223-3000
Fax: (612) 223-3002
6800 College Boulevard
Suite 600
Overland Park, KS 66211-1533
(913) 345.8062
Fax: (913) 345.1770
222 South Ninth Street
Suite 2825
Minneapolis, MN 55402-3368
(612)333-9177
Fax: (612) 333-2363
Re: Recommendations for the Issuance of:
$265,000 General Obligation Improvement Bonds, Series 1991 B and
$210,000 General Obligation Equipment Certificates of Indebtedness, Series 1991 C
We respectfully request your consideration of our recommendations for the issuance of these
bonds and certificates according to the terms and conditions set forth in the attached
proposed Terms of Proposal. Each issue will be discussed separately, with items common to
both to follow.
$265,000 General Obligation Improvement Bonds, Series 1991 B
The proceeds of this issue will be used to finance public road and utility improvements to
County Hills 4th Addition. The composition of the issue is as follows:
Construction Costs
$192,212
Construction Engineering
19,387
Engineering Design
12,200
Administration
7,688
Contingency
13.000
Total Project Costs
$244,487
Less: Water Core Funds
(7,200) X
Plus: Capitalized Interest (to 2-1-93)
17,687
Costs of Issuance
10,985
Allowance for Discount Bidding
3,445
Less: Investment Earnings
4.404
Total Bond Issue
1265.000
Capitalized interest in the amount of $17,687 has been included in the issue to cover interest
due from the dated date of the bonds to February 1, 1993.