HomeMy WebLinkAbout07-14-09 Council Handouts FILE COPY
.Xcel Energy
RESPONSIBLE BY NATURE= 414 Nicollet Mail
Minneapolis, Minnesota 55401 -1953
June 23, 2009
Eric A. Johnson
City Administrator
14168 Oak Park Blvd N.
P.O. Box 2007
Oak Park Heights, MN 55082
Re: Conditional Use Permit (CUP) Amendment: A-S. King Transfer Station / City
Council Agenda
Dear Mr. Johnson:
Xcel Energy, is requesting that the above item related to the King Plant's CUP
Amendment to construct a transfer station be removed from the June 23, 2009 City
Council agenda. It is anticipated that the amendment request will be brought up to the
City Council at a near . future meeting. Xcel Energy management will be discussing the
pertinent issue of taxation with the City of Oak Park Heights.
I you have any questions regarding the filing please contact me at (612)- 330 -6506
Sincerely,
1 Castillo
Sr. Environmental Analyst
612 -330 -6506
Enclosures:
c:
Tom Smith King Plant
Tom Zellmer King Plant
John Wertish White Bear
Patrick Cline G07
Judy Poferl GO 7
Terry Coss MP7
Roger Clarke h97
Scott Thomas M97
ES Record Center
Page 1 of 2
•
FILE -COPY
Eric Johnson
From: Eric Johnson
Sent: Tuesday, July 14, 2009 9:32 AM
To: 'dabeaudet c@i comcast.net; 'Les Abrahamson'; 'mjrunk @comcast.nef;
'marymccomber@aol.com'; 'Mark.Swenson@AndersenCorp -com'
Cc: 'Mark Vierling; Judy Hoist; 'Jennifer Nodes'
Subject: Additions to tonights City Council Agenda 7 -14 -09
Attachments: City Hall Facility - Secondary Bond Issuance Estimates.pdf, COuncilmember Runk - Addition
to Agenda HPP Funds.doc; Council Action Sheet - G. Kriesel Comments.doc; Land
Acquisition - Wwll & Tower - Update to 2009 -2013 CIP Plan.pdf
7 -14 -09
Council Members:
A few items of note:
1. I have attached two agenda items that have been requested to be added for this evenings meeting.
• Counclimember Runk — discussion of HPP funds for additional study of STH 36
Area
• Councilmember Abrahamson — Discussion of CEC / Editorial from Gary Kriesel
2. 1 have a pay request from Jorgensen Construction for $306,000 that 1 will be adding to consent
agenda, we have been awaiting an "affidavit of prevailing wages" and payment will be contingent upon
receipt of such document. (NO ENCLOSURE WITH THIS EMAIL)
3. You will note that the Council Agenda includes the opportunity to go into a CLOSED
SESSION to discuss the acquisition of property (wellitower). I am unsure at this moment if this
is necessary. I have received some addition information from Steve Mattson on the ability of
the City to issue the balance of our bond proceeds. Generally, If the City Issued the final $1.2
million in bonds, this would increase the avg. household debt costs from $78 per year to $92
per year. Attached are the following: 1.) THE ORIGINAL FINAL ISSUE OF 2008 (FOR YOUR
REFERENCE) 2.) A NEW 1,200,000 ISSUE AMORTIZED OVER 19 YEARS (TO MATCH THE 2008
ISSUE MATURITIES) AND 3.) A NEW ISSUE AMORTIZED OVER A 10 YEAR PERIOD.
4. The City Council also requested that the 2009 -2013 CIP plan be revised to include land
acquisition for well/tower. That insertion Is provided.
7/14/2009
• Oak Park Heights
Request for Council Action
Meeting Date Julv 10, 2009
Time Required: 10 minutes
Agenda Item Title: MNDOT — STH36 /St Croix River Crossing — Use of HPP Funds
Agenda Placement New Business
Originating Department/Requestor Councilmember Mike Runk
Requester's Signature
Action Requested Discussion. possible action
Background/Justification (Please indicate if any previous action has been taken or if other public
bodies have advised):
I had noticed in "weekly notes" — located in the DRAFT ISSUES LIST being developed between
* the City and MNDOT, there was a discussion of utilizing HPP funds $400,000 for the possible
development of "cut & cover" study. The Council may wish to revisit this issue with adjoining
cities and utilize these funds for possible design revisions. I state this because:
1. Recent agreements between Lake Elmo and MNDOT- call for the construction of
overpasses at various intersections along STH 36 as opposed to "at- grade"
intersections. Thus the stretch between Oakdale and OPH will be without any stops;
does the City want to have such stops?
2. The recent retiming of the current lights at the three intersections has caused
problems in some areas (especially headed northbound at Oakgreen/STH 36). This
issue may only worsen, so again is an at -grade intersection viable?
•
• Oak Park Heights
Request for Council Action
Meeting Date July 14' h ,2009
Time Required: 10 Minutes
Agenda Item Title: Washinp -ton Countv Environmental Charlie -
Agenda Placement New Business
Originating Department/Requestor Councilmember Les Abrahamson.
Requester's Signature
Action Requested Discussion. possible action
Background/Justification (Please indicate if any previous action has been taken or if other public
bodies have advised):
Discuss the recent editorial by County Commissioner Gary Kriesel as published in the Stillwater Gazette on
7- 13 -09, consider the crafting of a possible response to statements therein.
•
1 10 -year Issuance
E: OPH CIP 2009 B CITY OF OAK PARK HEIGHTS, MINNESOTA
rE OF ANALYSIS: JULY 13 2009 GENERAL 013LIGATION CAPITAL IMPROVEMENT BONDS OF 2009 CITY HALL PROJECT
rED DATE OF ISSUE: SEPTEMBER 15, 2009 PAR AMOUNT: $1,200,000
►) (s) (C) (D) (E) (F) (G) (AQ (N) ( TI !91 (R► (31 m {(1T
EST. 2009 2003 BOTH ISSUES 2009 2006 ANNUAL TAX CAPACITY CAP 1100,00000 $150,000 $200,0000 8150,000 $350.000 5500,0001 J
(12.15) INTEREST TOTAL DEBT TOTALDEBT TOTALDEB11 CAPITALWq TAX TAX SURPLUS CUMULATIVE VALIX RATA T AX CAP&gNVAHM
AR PRINCIPAL RATES INTEREST SERVICE SERVICE SELVI_CFJ WTERIS LEVY LEVY "DEFICIT'' BALAt�19 LAW INCREASE $L000 51,500 $2.000 $1500 $3.500 $5.0001 $9,250,
008 0.00 122,512.50 122.312.50 200E 5245,025.00 122,51150 124,511.30 9,274,81(
009 8,71S.00 8,715.00 380,025.00 388,740.00 2009 $26.145.00 360,000.00 (2,595.00) 119,917.50 9,506,681 3.7868% 37.87 56.80 75.74 94.67 132.51 189,34 350,28
010 5100,000.00 1.80% 34,860.00 134,860.00 391,650.00 526,510.00 137,000.00 390,000.00 (9,310.00) 110,407.50 9,744,348 5,3056% 53,06 79.58 106.11 132,64 185.70 265.2E 490.77
011 105,000.00 20014. 33,060.00 138,060,00 392,525.00 $30,585.00 138.000.00 390,000.00 (2,385.00) 107,822.S0 9,9!7,957 5.2564% 5186 79.30 105.73 132.16 165.02. 264.32 488.99
012 105,000.00 2.25% 30,960.00 135,960.00 403,030.00 538,990.00 139,000.OD 400,000.00 10.00 107,132.50 10,237,656 5,2649% 52,65 78.97 105.30 131.62 194.27 263.24 487.00
Ala 110,000.00 2,50% 28,597.50 138,597.50 412,845.00 $51,44150 140,000,00 410,000.00 (1,442.50) 106.390.00 10,493,597 5.2413% 52.41 79.62 104,83 131.03 123.43 MM06 494,82
00
014 115,000.00 2.75% 25,847.50 140,847.50 422,017.50 562,865.00 141,000 420,000,00 (1,865.00) 104,525.00 10,755,937 5.2157% $2.16 79.24 104.31 130.39 1/155 260.79 412,45
015 120,000.00 3,00% 22,695.00 142,685.00 430,417.50 573,10150 142,000,00 430,000.00 (1.102,50) 103,422SO 11,024,836 511893% 51.98 77.92 103.77 129.71 181.59 2$9.41 479.92
016 125,000,00 3.20% 19,085.00 144,085.00 438,000.00 582,085.00 143,000.00 440,000.00 915.00 104,337.50 11 ,300,457 5,1591% 51.59 77,39 103.18 128.98 130.57 257.9$ 477.22
017 130,000.00 3.401• 15,095.00 145,085.00 449,720.00 594,805.00 144,000.00 450,000,00 (805.00) 103,532.50. 11,532,969 5.1282% 51,28 76.92 102.56 128.21 179.49 256.41 474.36
018 140,000.00 3.601. 10,665.00 150,665.00 460,470.00 611,135.00 145,000.00 460,000.00 (6,135.00) 97,397.50 11,372,342 5.0953% 50,96 76A4 101.92 127.39 178.35 234.79 471.36
019 150,000.00 3.75% 5,625.00 155,625.00 470,345.00 625,970.00 146,000,00 470,000,00 (9,970.00) 87,427.50 12,169,356 5.0619% $0.62 75.93 101.24 126.55 177.17 253.09 468.23
.020 0.00 0.0074 0.00 0.00 484,325.00 434.32$.00 0.00 495,000.00 673.00 63,102.50 12,473,590 3.8832% 38.88 58.32 77.76 97.21 136,09 194.41 359.66
.021 0.OD 0.00% 0.00 0.00 4%,725.00 496,725.00 0.00 500,000.00 3,275.00 91,377.50 12,785,429 3.9107% 39.11 58.66 78.21 97.77 136,37 195.54 361.74
.022 0,00 0.0010 0.00 0.00 513,125.00 513,125.00 0,00 515,000.00 1,375.00 93,252.50 13,103,065 3.9298% 39.30 58.95 78.60 98.24 137.54 196.49 363.50
.023 0.00 0.00% 0.00 0,00 533,325,00 533.325.00 0.00 530,000.00 (3,325.00) $9,927.50 13,432,692 3.9456% 39.46 59.19 73.91 93.64 133.10 197.28 364.97
.024 0.00 0.00% 0.00 0.00 551,92150 551,922.50 0.00 545,000.00 (6,922.50) 83,005.00 13,769,509 3.9593% 39,58 59,37 79.17 98.96 138.54 197.92 366.14
.025 0.00 0.00% 0.00 0,00 578,332.50 578,88150 0.00 560,000.00 (18.982.50) 64,12250 14,112,722 3.9681% 39,68 $9,52 79.36 99.20 133.93 198.40 367.04
.026 0.00 0.00% 0.00 0,00 596,51250 598,51250 0,00 575,000.00 (23,512.50) 40,610.00 14,465,540 3.9750% 39.75 59.62 79.50 99.37 139.12 199,75. 367.68
.027 0.00 0.00% 0.00 0.00 611,200.00 611,200,00 0,00 595,000.00 (16,200.00) 74.410.00 14,827,178 4.0129 40.13 60.19 80.26 100.32 140.45 200.63 371.19
.028 0.00 0.00% 0.00 0100 636.840.00 636.940.00 0.00 620,000.00 (16,940.00) 7.570,00 15,,197,358 4.0795% 40.30 61.19 91.S9 1,91,99 11273 703,,98 377.36,
20000000 235185.00 1135185.00 977 415.00 11.213,600.00 277.170.00 $1.415.000.00 $9.335.000.00
$7,370.00 :;;�j1;c}1,.(„1,r:', V,,,�7 :iW4.,'..R,° S,i96':' .�✓5..;; 131.40 �.....
1. 8,
qtN,:: 5762.:;.:.: >El,•, U
n::A[QI1[4[e (RYGRt's :'- .::.`:::::. SS sT:'":i3 711:... tJ' : •:.::.. $ SS $133?
APPLICATION 9F FUNDS
ESTIMATED CONSTRUCTION NEEDS $1,137,_500.00 BONDS DATED: SBPTEMISM 15, 2009 ............. .........._..._..
TOTAL HARD COSTS 1,137,500,00 ESTOUTED AVERAGE COUPON RATi: 334813%
ADD SOFT COSTS OF ISSUANCE BONDS MATURE: DECEMBER 15, 2010 THROUGH 2019 IEWTIMATED NET CRFEL'1IVE RATES: 3.4563%
DISCOUNT FACTOR (1.375% OF PAR) 16,500.00
CAPITALIZED INTEREST (9 MONTHS) 26,145.00 INTEREST: DBCE MBW 13, 2009 AND SEMIANNUALLY THEREAFTER BOND YEARS 7,335.00
EST. REGISTRATION (PREPAID TO CALL DATE) 4,945.00 ON EACH RINNE 15 AND DEC04MR 1 S.
ESTIMATED RATING FEE 8,700.00
ESTIMATED FAIRNESS OPINION 1,250.00 OPTION: ALL BONDS MATURING IN THE YEARS 2017 THROUGH
ESTIMATED OFFICIAL STATEMENT PRINTING 300.00 2019 ARE CALLABLE AT THE OPTION OF THE CITY ON NORTH-LAND S E CU RI T I E:S
ESTIMATED LEGAL SERVICES 5500.00 DECEBMER 15, 2016 OR ANY DATE THEREAFTER
SUBTOTAL $1,20(1,840,00 PAR PLUS ACCRUED INTEREST,
LESS: INVESTMENT INCOME ON CONSTR. ACCOUNT ($727,47) (A) PURCHASEPRIC& 51,183,500.00 NORTHLAND SECURMES, INC.
GRANDTOTAL S1,20QI12.53 PAYINGAGENTA STEVEN J.MATTSON, EXECUTIVE VICEPRESIDENt'
ROUNDED FOR ISSUANCE S1200000.00 REGISTRAR: NORTHLAND TRUST SERVICES 6124131d91f
EST. BOND SAID' DATE: AUGUST,.,_, 2009 800451'1320
.) ASSUMES NET CONSTRUCTION AND INTEREST FUNDS INVESTED EST BOND CLOSING DATE: SEPTEMBER _. 2009
FOR AVERAGE OF 90 DAYS (g1.25 %
1 19 -year Issuance to Match Current Bond
,9: OPH CH' 2009 A CITY OF OAK PARK HEIGIIT•S, MINNESOTA
TE OF ANALYSIS: JULY l3, 2009 GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS OF 2009 CITY HALL PROJECT
TED DATE OF ISSUE: SEPTEMBER 15, 2009 PAR AMOUNT: SI,200,000
°+) (B) (C) (D) (9) (F) (G) (H) (U (O (W (L) (1M) (N) ( 01. JML (R) (S) TPI (U),
ANNUAL TAX I
MARKE VALUE HO MESTEA D ) , MnC1AL I
EST, 2009 2005 BOTH ISSUES 2009 2008 ANNUAL TAX CAPACITY CAPiCTIY SI00, =150,000 5200,000 S2S0,000 5330,000 5500,000 5300,000
(12 -15) INTEREST TOTALDEBT TOTAL DEBT TOTAL DEBS CAPTI TAX TAX SURPLUS CUMULATIVE VALUE.@ RATS TAXCAPA�7TYVALUS
AR PRINCIPAL RATES INTEREST SERVICE SERVICE SBRV[ LEVY LEVY IDEFICIT SALANC9 2.50%1 INCREASE 51.000 $1.500 52.000 52,500 13,500 $5,0001 $9,2501
0,00 122,512.50 122,512.50 2008 $245,025.00 122,512.50 122,512,50 9,274,811
1409 11,161.25 11,161.2$ 380,025.00 391,186.25 2009 S33,483.751 360,000.00 2,297.50 124,810.00 9,506,611 3.7868% 37.87 56.80 75.74 94.67 132.54 119.34 350.28
010 $40,000.00 1.80% 44,645,00 84,645.00 391,650,00 476,295.00 83,000,00 310,000.00 (13,295.00) 111,513,00 9,744,345 4,7515% 47.51 71.27 95.03 111.79 166.30 237.57 439.51
All 40,000.00 2.00% 43,925.00 83,924.00 392,525.00 476,450.00 14,000.00 390,000.00 (2,450.00) 109,065.00 9,917,957 4.7457% 47,46 71.19 94.91 lIC64 166.10 237.29 438.98
1 412 40,000.00 2.25% 43,125.00 83,125,00 403,030.00 416,155.00 85,000.00 400,000.00 (1,155.00) 107,910,00 10,237,656 4.7374% 47.37 71.06 94.75 1IL44 165.51 236.87 431.21
1413 45,000,00 2.50% 42,225.00 87,225.00 412,845.00 500,070.00 86,000.00 410,000.00 (4,070.00) 103,540.00 10,493,597 4,7267% 47,27 70.90 94.33 118.17 165.43 23633 437.22
!014 45,000.00 475% 41,100.00 86,100.00 422,017.50 50$117,50 57,000.00 420,000.00 (1,117.50) 101,722.30 10,7$5,937 4.7177% 47,14 70.71 94.27 117.14 164.98 235.61 136.02
1415 45,000.00 3.00% 39,962.50 84,862.50 430,417.50 515,280.00 88.000.00 430,000.00 2,720.00 105,442.50 11,024,836 4.6985% 46.98 70AI 93,97 117.46 164.45 234,92' 434.61
:016 50,000.00 3.20% 39,512.SD 58,512.50 438,ODD,OD 526,512.50 89,000,00 440,000,00 2,487.50 107,930,00 11,300,457 4.6512% 46.91 70.22 93.62 117.03 163.14 234.06 433.01
:017 50,000,00 3.40°,6 36,912.50 86,912.50 449,720.OD 536,632.50 90,000.00 45%000.00 3,367.50 111,297.50 11,582,961 4.6620% 46.62 69.93 93.24 116,55 163.17 233.10 431.26
:016 55,000.00 3.60% 35,212.50 90,212.50 460,470.00 550,682.50 91,0D0.00 460,000,00 311.50 111,615.00 11,872,562 4.6410% 46,41 69.61 92.82 116,02 .162.43 232.03 429.29
A19 55,000.00 3.75% 33,232,50 8$232.50 470,345.00 558,577.50 92,000,00 470,000.00 3,422.50 115,037,50 12,169,356 4,6192% 46,15 69.27 92.36 115.43 161.64 230,91 427.18
:020 60,000.00 3.90% 31,170.00 91,170.00 484,325.00 575,495.00 93,000,00 455,000.00 2,505.00 117,542,50 12,473,590 4,6338% 46.34 69,51 92.61 115.14 161,15 231.69 428.63
021 65,000.00 4.00% 25,130.00 93,830.00 49%725.00 590,555,00 94,000.00 500,000.00 3,445.00 120,917.50 12,785,429 4.6459% 46.46 69,69 9192 116.15 162.61 23230 429.75
:022 70,000.00 4.10% 26,230.00 96,230.00 513,125.00 609,355.00 95,000.00 515,000.OD 645.00 121,632.50 13,105,065 4.6547% 46,55 69.82 93.09 116.37 162,91 232.73 430.56
:023 75,000.00 4.20% 23,360,00 98,360,00 533,325.00 631,615.00 96,000.00 530,000.00 (5,685,00) 115,947.50 13,432,692 4.6603% 46,60 69.90 93.21 116.51 163.11 233.01 431.08
'024 80,000.00 4.25% 20,210,00 100,210.00 551,922.50 652,132.50 97,000.00 545,000.00 (10,132.50) 103,113.00 13,769,509 4.6625% 46,67 69.94 93,26 116.57 163.20 233.14 431.31
.025 85,000.00 4.30% 16,810.00 101,810.00 575,992,50 690,692.50 9'$000.00 560,000,00 (22,692.50) 13,121.30 14,112,722 4.662594 16.62 69.94 93.23 1106 163.19 237,12 431.28
:026 90,000.00 4.35% 13,155.00 103,155.00 599,512.50 701,667.50 99,000.00 575,000,00 (27,667.$0) 35,453.00 14,465,540 4.6593% 46.59 69.89 93.19 116,48 163.09 232.97 430.99
'027 100,000.00 4.40% 9,240,00 109,240.00 611,200.00 720,440.00 100,000.00 595,000,00 (23,440.00) 30,015,00 14,827,178 4.6873% 46.57 70.31 93.75 117.19 164.06, 234,37 433.58
025 130,000.00 4.40% 4,840.00 114,840,DD 636.540,00 75I.690.00 102,000.00 620.000,00 (29 335.00 IS,,197,858 4.7507% 47.51 71.26 95.01 111.77 166.27 237.53' 439.44
1,200,000.00 593,758.15 1,783,758.75 9,778,415,00 11,562,173.75 279,505.75 11 ,749,000.00 89,535,000,00 $335.00 �"
::•:::r�G +:.. iiii! :�i,3.lsli:':a Sf2.71 ,'9'f• i':rrj.11 .
57.73 '.;r,' sjf`! jib#. i}:`:'iE.B>Cf,:
APPLICATION OF FUNDS
EST1Mia -1461 nUCT10N NEEDS $1, BONDS DATED: SEPTEMBER 15, 2009
TOTAL HARD COSTS 1, 130, 000.00 i:STIMATED AVERAGE COUPON RATLi 4A567 %1
ADD SOFT COSTS OF ISSUANCE BONDS MATURE: DECEMBER 15, 2010 THROUGH 2028 TED Nzr.g XCTIV9 RAT91 ......... 4.1714741
DISCOUNT FACTOR (1.375°A OF PAR) 16,500.00
CAPITALIZED INTEREST (9 MONTHS) 33,483.75 INTEREST: DECEMBER 15.2009 AND SEMIANNUALLY THEREAFTER BOND YEARS 14,390.00
EST. REGISTRATION (PREPAID TO CALL DATE) 4,945.00 ON EACH TUNE 15 AND DECOMER 15.
ESTIMATED RATING FEE 8.700.00
ESTIMATED FAIRNESS OPINION 1,250,00 OPTION: ALL BONDS MATURING IN THE YEARS 2017 THROUGH
ESTIMATED OFFICIAL STATEMENT PRINTING 300.00 2023 ARE CALLABLE AT THE OPTION OF THE CITY ON N.O RT H LAND S $ O U R T T T ES
ESTIMATED LEGAL SERVICES 5.500.00 DEMMER 15, 2016 OR ANY DATE THEREAFTER Q
SUBTOTAL $1,200,678.75 PAR PLUS ACCRUED I4173REST.
LESS: INVESTMENT INCOME ON CONSTR ACCOUNT (5722.75) (A) PURCHASE PRICE: 53,183,500,00 NORTHLAND SECURITIES, INC.
GRANDTOTAL $1,199,955.97 PAYINGAGENT& STEVEN J.MATTSON, EXECUTIVE VICE PRESIDENT
ROUNDED FOR ISSUANCE $1,200,000.00 REGISTRAR: NORTHLAND TRUST SERVICES 61Z451.5919
EST. BOND SALE DATE: AUGUST _ 2009 SOD SS/ -2920
ASSUMES NET CONSTRUCTION AND INTEREST FUNDSWVESTED EST BOND CLOSING DATE: SEPTEMBER - 2009
-OR AVERAGE OF 90 DAYS @.25%
CURRENT BOND ISSUACE
11LE; OPH CITY HALL (CH) FINAL I CITY OF OAK PARK HEIGHTS, MMOMOTA
)ATE OF ANALYSIS: MAY 27, 2009 GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS OF 2008 CITY HALL PROJECT
)ATED DATE OF ISSUE; JUNE 15, 2008 PAR AMOUNT: $6,300,000
(A) (B) (C) (D) (E) (F) (G) (H) ( (J) ( (L) ( m, im (O} (Pl (Ol (R) (S)
ANNUAL TAX MARKET VALUE HOMESTEAD 100 *G=AL'
FINAL TOTAL ANNUAL TAX CAPACITY CAPICITY $100,000 $150,000 $200, 000 $250,000 5350,000 $500,000 5500,000
(l2 -l5) INTEREST DEBT STATUTORY CAPITALIZED TAX SURPLUS CUMULATIVE VALUE,( RATE TAX CAPACITY VALUE
YEAR PRINCIPAL RATES INTEREST SERVICE 0.00% INTEREST LEVY /DPFICTT BALANCEI 2.50% INCREASEI SLOW $1.500 $2.000 $2.500 53.500 $5.0001 $9.250'
2008 122,512.50 122,512.50 122,512.50 $245,025.00 122,512.50 122,512.50 9,274,811
2009 8135,000.00 2.509E 245,025,00 380,025.00 380,025.00 360,000.00 (20,025.00) 102,487.50 9,506,681 3.7866% 37.87 56.80 75.74 94,67 132.54 189.34 35028
2010 150,000.00 2.75% 241,650.00 391,650.00 391,650.00 380,000.00 (11,650.00) 90,837.50 9,744,348 3.8997% 39.00 58.50 77.99 97.49 136.49 194.98 360.72
2011 155,000,00 2.90% 237,525.00 392,525.00 392,525.00 390,000.00 (2,525.00) 88,312.50 9,987,957 3.M7Y% 39.05 58.57 78.09 97.62 136.66 195.24 361.18
2012 170,000.00 3.OS% 233,030.00 403,030.00 403,030.00 400,000.00 (3,030.00) 85,282.50 10,237,656 3.9071% 39.07 58.61 78.14 97.68 136.75 195,36 361.41
2013 185,000.00 3.15% 227,845,00 412,845.00 412,845.00 410,000,00 (2,845.00) 92,437.50 10,493,597 3.9071% 39.07 58.61 78.14 97.68 136,75 195.36 361.41
2014 200,000.00 3.30% 222,017.50 422,017.50 422,017.50 420,000.00 (2,017.50) 80,420.00 10,755,937 3.9048% 39,05 58,57 78,10 97.62 136.67 195.24 361.20
2015 215,000.00 3.45% 215,417.50 43%417.50 430,417.50 430,000.00 (417.50) 80,002.50 11,024,836 3,9003% 39.00 58,50 78.01 97.51 136.51 195.01 360.78
2016 230,000.00 3.60% 208,000.00 438,000.00 438,000.00 440,000.00 2,000,00 82,00230 11,300,457 3.8936% 38.94 58.40 77.87 97.34 136.28 194.68 360,16
2017 250,000.00 3.70% 199,720.00 449,720,00 449,720.00 450,000,00 280.00 82,282.50 11,582,968 3.8850% 38.85 56.28 77.70 97.13 135.98 194.25 359.36
2018 270,000.00 3.75% 190, 470.00 46%470.00 460,470,00 460,000.00 (470.00) 81,812.50 11,872,542 3.8745% 38.74 58.12 77,49 96.86 135.61 193.72 358.39
2019 290,000.00 3.80% 180,345.00 470,345.00 470,345.00 470,000.00 (345.00) 81,467.S0 12,169,356 3.8622% 38.62 57.93 77,24 96.55 135.18 193.11 35725
2020 315,000.00 4.00% 169,325.00 484,325.00 484,325.00 485,000,00 675.00 82,142,50 12,473,590 3.8892% 38.88 58.32 77.76 97.21 136.09 194.41 359.66
2021 340,000.00 4.00% 156,725,00 496,725.00 496,725.00 500,000.00 3,275.00 85,417,50 12,785,429 3.9107% 39.11 58.66 78.21 97.77 136,87 195.54 361.74
2022 370,000.00 4,00% 143,125.00 513,125.00 513,125.00 $15,000.00 1,875.0D 87,292.50 13,105,065 3.9299% 39.30 58.95 78.60 98.24 137.54 1 96.49 363.50
2023 405,000.00 4.05% 128,325.00 533,325.00 533,325.00 530,000.00 (3,325.00) 83,967.50 13,432,692 3.9456% 39.46 59.18 78.91 98,64 138.10 197.28 364.97
2024 440,000.00 CIOY% 111,922.50 551,922,50 551,922,50 545,000.DD (6,922.50) 77,045.00 13,768,509 3.9583% 39.58 59.37 79.17 98.96 138.54 197.92 366.14
2025 485,000.00 4.20% 93,692.50 578,852.50 $78,882.50 56%ODD.00 (18,882.50) $8,162.50 14,112,722 3.9681% 39.68 59.52 79.36 99.20 139.88 198.40 367.04
2026 525,000.00 4.25% 73,512.50 598,512.50 598,512.50 575,000,00 (23,512.50) 34,650.00 14,465,540 3.9750% 39.75 59,62 79.50 99.37 139.12 198.75 367.68
2027 560,000.00 435% 51,200.00 611,200.00 611,200.00 595,000.00 (16,200.00) 18,450.00 14,827,178 4.0129% 40.13 60.19 80.26 100.32 140.45 200.65 371.19
2028 610.000.00 4.40% 26,840.00 636,84%00 636.840.00 620,000.00 (16.840.001 1.610.00 15,197 858 4.0795% 40.80 61.19 81.59 101.99 142.79 203,98 377.36
6,300,000.00 3,478,415.00 9,778,415.00 9,778,415.00 245,025.00 59,535,000.00 51,610,00 "'' :: " 1 "
4 :i i? l t 1ti 8 ! T $7839 ';;'.8 ..... :; is31J7>' 1959#`'t: ;`5 1.57. i
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APPLICATION OF FUNDS
ESTIMATED CONSTRUCTION NEEDS $6,001 BONDS DATED: JUNE is, 2008
TOTAL HARD COSTS 6,001,000.00 r- -- - D AVERA Z COUPON - - -_° -'
11STIIltAT13D AVERAGE RATES
ADD SOFT COSTS OF ISSUANCE BONDS MATURE: DECEMBER 15, 2009 THROUGH 2028 ESTIMATED NET EFFECTIVE IRATE:
DISCOUNT FACTOR (1.3757% OF PAR) 86,625,00 "
CAPITALIZED INTEREST (12 MONTHS) 245,025.00 INTEREST: DECEMBER 15, 2008 AND SEMIANNUALLY THEREAFTER BOND YEARS 85 ,370.00
EST. REGISTRATION (PREPAID TO CALL DATE) 4,945.00 ON EACH JUNE I S AND DECEMBER I S.
ESTIMATED RATING FEE 8,700.00
ESTIMATED FAIRNESS OPINION 1,500.00 OPTION: ALL BONDS MATURING IN THE YEARS 2017 THROUGH
ESTIMATED OFFICIAL STATEMENT PRINTING 750.00 2028 ARE CALLABLE AT THE OPTION OF THE CITY ON NO RT:H LAND SECURITIES
ESTIMATED LEGAL SERVICES 8 DECEBMBR 15, 2016 OR ANY DATE THEREAFTER @ SUBTOTAL $6,357,045.00 PAR PLUS ACCRUED INTEREST. to
LESS: INVESTMENT INCOME ON CONSTR. ACCOUNT ($57,167.111 (A) PURCHASE PRICE: 56,213,375.00 NORTHLAND SECURITIES, INC.
GRANDTOTAL 16,299,877.89 PAYING AGENT & STEVEN J. MATTSON, E KECUTIVE VICE PRESIDENT
ROUNDED FOR ISSUANCE $6,300.000.00 REGISTRAR: NORTHLAND TRUST SERVICES 612- MI-5919
(A) ASSUMES NET CONSTRUCTION AND INTEREST FUNDS INVESTIl EST. BOND SALE DATE; MAY 27, 2008 800..851_2920
FOR AVERAGE OF 150 DAYS cQ 2.25% EST BOND CLOSING DATE: JUNE 19, 2008
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Capital Improvement Plan FY'09 thruFY'13 Contact City Administrator
• City of Oak Park Heights, MN Department Water Utility
Project # WU 013 Type Unassigned
Useful Life
Project Name Land Acquisition - Well & Tower Category water utility
Priority 2 High
Total Project Cost $1,000,000
Description
The City Engineer completed a Needs Assessment - (dated 6- 15 -09) for a new well and tower location based on lands that may be available in the
near future, lying west of STH 5. The City may have singular opportunity to purchase in a declining market (Summer/Fall 2009)
Justification
According to the 1998 (September) Water Supply and Distribution Plan (and subsequent reports) prepared by the City Engineer, the City should be
conisdering the pursuit of lands for the location of a new well/storage capacity.
The City is also limited in possible locations for a well and tower due to the "pollution plume" lying southwardly in the Baytown / Lake Ehno
Areas.
Expenditures FY'09 FY 1 10 FY'11 FY 1 12 FY'13 Total
Land Acquisition 1,000,000 1,000,000
Total 1,000,000 1,000
Funding Sources FY'09 FY'10 FY'11 FY'12 FY'13 Total
To Be Determined 1,000,000 1,000,000
Total 1,000,000 1,000,000
OperationalImpact/Other I
Land Acusition only. - Minor land maintenance during interim timeperiod prior to the construction of a well/tower.
S
Produced Using the Plan -It Capital Planning Software Page 1 Tuesdav, Jul, 14, 2009