HomeMy WebLinkAbout2. September 7, 1990 Referendum Ballat Questions P.O. BOX 510
t�i�?/ � 2875-145TH ST. W.
N��� y� ROSEMpUNT. MINNESOTA 55068
�Se'II/�,�'u,I{,� 612-423-4411
T0: Mayor Napper
Council Members Klassen
Oxborough
Willcox
Wi ermann
FROM: Stephan Jil
DATE: September 7, 1990
1
RE: Refarendum for `Community Center
I have been in contact with our financial bond counsel regarding
the format of the questions to ask on the ballot for the upcoming
referendum.
Based upon our discussion as to asking three separate questions,
the foliowing is the recommended,format 'to do sa:
1 . Shall the City of Rosemount be authorized to issue its
general obligation bonds in the principal amount not to
exceed $232,000 to provide funds for the acquisition and
betterment of a community auditorium? #
2. Shall the City of Rosemount be authorized to issue its
general obligation bonds in the principal amount not to
exceed $497,000 to provide funds for the acquisition and
betterment of a banquet facili�y?
3. Shall the City of Rosemount be authorized to issue its
general obligation bonds in the principal amount not to
exceed $3,$00,000 to provide funds for the acquisition and
betterment of a multi-purpose arena?
The dollars reflected in the referendum questions include
construction, architectural, financing, legal and contingency
costs. Only the construction costs were included in the original
numbers. The additional costs equal about 15 percent of the
construction costs . In the case of- the two larger projects, this
is substantial. We want to make sure that we have enough when we
ask the people for the approval.
A motion "to approve the form and content of the questions to be
included on the November 6, 1990 referendum" is in order.
dw