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HomeMy WebLinkAbout1995 EXHIBIT A OFFICIAL TERMS OF BOND SALE $1,130, 000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1995 CITY OF OAK PARK HEIGHTS WASHINGTON COUNTY MINNESOTA NOTICE IS HEREBY GIVEN that these bonds will be offered for sale according to the following terms: TIME AND PLACE: Sealed bids will be opened by the City Administrator, or designee, on Monday, June 12, 1995, at 1:00 P.M. , Central Time, at the offices of Juran & Moody, Inc. , 400 North Robert Street, Suite 800, in Saint Paul, Minnesota 55101- 2091. Consideration of the bids for award of the sale will be by the City Council at its meeting in the Oak Park Heights City Hall beginning at o'clock _.M. , on the same day. TYPE OF BONDS: Fully registered general obligation bonds, $5, 000 or larger denominations at the option of the bidder. DATE OF ORIGINAL ISSUE OF BONDS: July 1, 1995. PURPOSE: For the purpose of providing money to finance the construction of various improvements in the City. INTEREST PAYMENTS: December 1, 1995, and semiannually thereafter on June 1 and December 1. MATURITIES: December 1 in each of the years and amounts as follows: Illik 290547.1 A-1 r Year Amount 1996 $ 70,000 1997-1998 110,000 1999-2005 120,000 All dates are inclusive. REDEMPTION: At the option of the Issuer, bonds maturing on or after December 1, 2001 shall be subject to prior payment, on December 1, 2000 and any interest payment date thereafter, at a price of par and accrued interest. Redemption may be in whole or in part of the bonds subject to prepayment. If redemption is in part, the bonds remaining unpaid which have the latest maturity date shall be prepaid first and if only part of the bonds having a common maturity date are called for prepayment the specific bonds to be prepaid shall be chosen by lot by the Registrar. BOND REGISTRAR: Principal will be payable at the main corporate office of First Trust National Association, in St. Paul, Minnesota (the "Registrar") . Interest will be payable by check or draft of the Registrar mailed to the registered holder of the bond at his address as it appears on the books of the Registrar. The Issuer will pay reasonable and customary charges for the services of the Registrar. CUSIP NUMBERS: If the bonds qualify for 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 shall constitute cause for a failure or refusal by the Purchaser thereof to accept delivery of and pay for the bonds in accordance with terms of the purchase contract. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. DELIVERY: Forty days after award subject to approving legal opinion of Briggs and Morgan, Professional Association, of St. Paul and Minneapolis, Minnesota. Bond 290547.1 A-2 printing and legal opinion will be paid by the Issuer and delivery will be anywhere in the continental United States without cost to the Purchaser. Legal opinion will be printed on the bonds at the request of the successful bidder. TYPE OF BID: Sealed bids of not less than $1, 109, 660 and accrued interest on the principal sum of $1, 130,000 from date of original issue of the bonds to date of delivery must be filed with the undersigned prior to the time of sale. Bids must be unconditional except as to legality. A certified or cashier's check (the "Deposit") in the amount of $22,600 payable to the order of the Administrator of the Issuer, or a Financial Surety Bond complying with the provisions below, must accompany each bid, to be forfeited as liquidated damages if bidder fails to comply with accepted bid. Bids for the bonds should be delivered to Juran & Moody, Inc. , and addressed to: Mike Robertson, Administrator Oak Park Heights City Hall P.O. Box 2007 Oak Park Heights, Minnesota 55082-2007 If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Minnesota, and preapproved by the Issuer. Such bond must be submitted to Juran & Moody, Inc. prior to the opening of the bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the bonds are awarded to a bidder using a Financial Surety Bond, then that purchaser is required to submit its Deposit to Juran & Moody, Inc. in the form of a certified or cashier's check or wire transfer as instructed by Juran & Moody, Inc. not later than 3:30 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 290547.1 A-3 • may be drawn by the Issuer to satisfy the Deposit requirement. The Issuer will deposit the check of the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser. In the event the purchaser fails to comply with the accepted bid, said amount will be retained by the Issuer. No bid can be withdrawn after the time set for receiving bids unless the meeting of the Issuer scheduled for award of the bonds is adjourned, recessed, or continued to another date without award of the bonds having been made. RATES: All rates must be in integral multiples of 1/20th or 1/8th of 1%. No limitation is placed upon the number of rates which may be used. All bonds of the same maturity must bear a single uniform rate from date of issue to maturity and no rate of any maturity may be lower than the highest rate applicable to bonds of any preceding maturities. INFORMATION FROM The successful purchaser will be PURCHASER: required to provide, in a timely manner, certain information relating to the initial offering price of the bonds necessary to compute the yield on the bonds pursuant to the provisions of the Internal Revenue Code of 1986, as amended. QUALIFIED TAX The Issuer will designate the EXEMPT OBLIGATIONS: bonds as qualified tax exempt obligations for purposes of Section 265(b) (3) of the Internal Revenue Code of 1986, as amended. AWARD: Award will be made solely on the basis of lowest dollar interest cost, determined by addition of any discount to and deduction of any premium from the total interest on all bonds from their date to their stated maturity. 290547.1 A-4 The Issuer reserves the right to reject any and all bids, to waive informalities and to adjourn the sale. Dated: May 8, 1995. BY ORDER OF THE CITY COUNCIL /s/ Mi e Robertson City Administrator Additional information may be obtained from: JURAN & MOODY, INC. Minnesota Mutual Life Center 400 North Robert Street Suite 800 St. Paul, Minnesota 55101-2091 Telephone No. : (612) 224-1500 290547.1 A-5 • EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF OAK PARK HEIGHTS, MINNESOTA HELD: June 12, 1995 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Oak Park Heights, Washington County, Minnesota, was duly held at the City Hall in said City on Monday, the 12th day of June, 1995, at 7:30 P.M. , for the purpose, in part, of considering bids for, and awarding the sale of, $1, 130,000 General Obligation Improvement Bonds of 1995 of the City. The following members were present: and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION ACCEPTING BID ON SALE OF $1, 130, 000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1995, PROVIDING FOR THEIR ISSUANCE, PLEDGING FOR THE SECURITY THEREOF SPECIAL ASSESSMENTS, AND LEVYING A TAX FOR THE PAYMENT THEREOF A. WHEREAS, on May 8, 1995, the City Council of the City of Oak Park Heights, Minnesota (the "City") , adopted a resolution (the "Preliminary Resolution") , which provided for the private negotiation of $1, 130, 000 General Obligation Improvement Bonds of 1995 (the "Bonds") ; and B. WHEREAS, bids to purchase the Bonds have been solicited by Juran & Moody, Inc. in accordance with the Preliminary Resolution; and C. WHEREAS, the bids set forth on Exhibit A attached hereto were received pursuant to the Official Terms of Bond Sale established for the Bonds by the Administrator at the City Hall at 11:00 A.M. , Central Time, this same day; and D. WHEREAS, the City Council of the City has heretofore determined and declared that it is necessary and expedient to issue the Bonds, pursuant to Minnesota Statutes, Chapters 429 and 475, to finance the construction of various improvements in the City (the "Improvements") ; and 292895.1 E. WHEREAS, the Improvements and all their components have been ordered prior to the date hereof, after a hearing thereon for which notice was given describing the Improvements or all their components by general nature, estimated cost, and area to be assessed; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Oak Park Heights, Minnesota, as follows: 1. Acceptance of Bid. The bid of (the "Purchaser") , to purchase $1, 130,000 General Obligation Improvement Bonds of 1995 of the City (the "Bonds", or individually a "Bond") , in accordance with the Official Terms of Bond Sale, at the rates of interest hereinafter set forth, and to pay therefor the sum of $ , plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable bid received and is hereby accepted, and the Bonds are hereby awarded to said bidder. The City Administrator is directed to retain the deposit of said bidder and to forthwith return to the unsuccessful bidders their good faith checks and drafts. 2. Title; Oricxinal Issue Date; Denominations; Maturities. The Bonds shall be titled "General Obligation Improvement Bonds of 1995", shall be dated July 1, 1995, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The Bonds shall hall be numbered from R-1 upward in the denomination of $5, 000 each or in any integral multiple thereof of a single maturity. The Bonds shall mature on December 1 in the years and amounts as follows: Year Amount Year Amount 1996 $ 70, 000 1999-2005 $120, 000 1997-1998 110, 000 All dates are inclusive. 3. Purpose. The Bonds shall provide funds to finance the Improvements. The total cost of the Improvements, which shall include all costs enumerated in Minnesota Statutes, Section 475.65, is estimated to be at least equal to the amount of the Bonds. Work on the Improvements shall proceed with due diligence to completion. The City covenants that it shall do all things and perform all acts required of it to assure that work on the Improvements proceeds with due diligence to completion and that any and all permits and studies required under law for the Improvements are obtained. 4. Interest. The Bonds shall bear interest payable semiannually June 1 and Y on December 1 of each year (each, an "Interest Payment Date") , commencing December 1, 1995, calculated on the basis of a 360-day year of twelve 30-day months, at the 292895.1 2 • respective rates per annum set forth opposite the maturity years as follows: Maturity Interest Maturity Interest Year Rate Year Rate 1996 % 2001 1997 2002 1998 2003 1999 2004 2000 2005 5. Redemption. All Bonds maturing in the years 2001 to 2005, both inclusive, shall be subject to redemption and prepayment at the option of the City on December 1, 2000, and on any Interest Payment Date thereafter at a price of par plus accrued interest. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date shall be prepaid first; and if only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Bonds or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of redemption shall be given to the paying agent and to each affected registered holder of the Bonds at least thirty (30) days prior to the date fixed for redemption. To effect a partial redemption of Bonds having a common maturity date, the Bond Registrar prior to giving notice of redemption shall assign to each Bond having a common maturity date a distinctive number for each $5, 000 of the principal amount of such Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers so assigned to such Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, that only so much of the principal amount of each such Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5, 000 for each number assigned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the City or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the City and Bond Registrar duly executed by the holder thereof or his, her or its attorney duly authorized in writing) and the City shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of the same series having the same stated maturity and interest rate and of any authorized denomination or denominations, as requested by such Holder, in aggregate principal amount equal to and in 292895.1 3 r exchange for the unredeemed portion of the principal of the Bond so surrendered. 6. Bond Registrar. First Trust National Association, in St. Paul, Minnesota, is appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond Registrar") , and shall do so unless and until a successor Bond Registrar is duly appointed, all pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. The Bond Registrar shall also serve as paying agent unless and until a successor paying agent is duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 12 of this resolution. 7. Form of Bond. The Bonds, together with the Bond Registrar's Certificate of Authentication, the form of Assignment and the registration information thereon, shall be in substantially the following form: 292895.1 4 UNITED STATES OF AMERICA STATE OF MINNESOTA WASHINGTON COUNTY CITY OF OAK PARK HEIGHTS R $ GENERAL OBLIGATION IMPROVEMENT BOND OF 1995 INTEREST MATURITY DATE OF RATE D TE ORIGINAL ISSUE CUSIP JULY 1, 1995 REGISTERED OWNER: PRINCIPAL AMOUNT: DOLLARS KNOW ALL PERSONS BY THESE PRESENTS that the City of Oak Park Heights, Washington County, Minnesota (the "Issuer") , certifies that it is indebted and for value received promises to pay to the registered owner specified above, or registered assigns, in the manner hereinafter set forth, the principal amount specified above, on the maturity date specified above, unless called for earlier redemption, and to pay interest thereon semiannually on June 1 and December 1 of each year (each, an "Interest Payment Date") , commencing December 1, 1995, at the rate per annum specified above (calculated on the basis of a 360-day year of twelve 30-day months) until the principal sum is paid or has been provided for. This Bond will bear interest from the most recent Interest Payment Date to which interest has been paid or, if no interest has been paid, from the date of original issue hereof. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of First Trust National Association, in St. Paul, Minnesota (the "Bond Registrar") , acting as paying agent, or any successor paying agent duly appointed by the Issuer. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the person in whose name this Bond is registered (the "Holder" or "Bondholder") on the registration books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date") . Any interest not so timely paid shall cease to be payable to the person who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who is the Holder hereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given to 292895.1 5 III -- • Bondholders not less than ten days prior to the Special Record Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America. REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH HERE. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and precedent pp to be performed, dent to and in P the issuance of this Bond, have been done, have happened and have been performed, in regular and due form, time and manner as required by law, and that this Bond, together with all other debts of the Issuer outstanding on the date of original issue hereof and the date of its issuance and delivery to the original purchaser, does not exceed any constitutional or statutory limitation of indebtedness. IN WITNESS WHEREOF, the City of Oak Park Heights, Washington County, Minnesota, by its City Council has caused this Bond to be executed on its behalf by the facsimile signatures of its Mayor and its Administrator, the corporate seal of the Issuer having been intentionally omitted as permitted by law. Date of Registration: Registrable by: FIRST TRUST NATIONAL ASSOCIATION Payable at: FIRST TRUST NATIONAL ASSOCIATION BOND REGISTRAR'S CITY OF OAK PARK HEIGHTS, CERTIFICATE OF WASHINGTON COUNTY, AUTHENTICATION MINNESOTA This Bond is one of the Bonds described in the /s/ Facsimile Resolution mentioned Mayor within. /s/ Facsimile Administrator FIRST TRUST NATIONAL • ASSOCIATION St. Paul, Minnesota Bond Registrar By Authorized Signature 292895.1 6 ON REVERSE OF BOND "Bonds") Redemption. All Bonds of this issue (the �� P ( he Bonds maturing in the years 2001 to 2005, both inclusive, are subject to redemption and prepayment at the option of the Issuer on December 1, 2000, and on any Interest Payment Date thereafter at a price of par plus accrued interest. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date shall be prepaid first; and if only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Bonds or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of redemption shall be given to the paying agent and to each affected Holder of the Bonds at least thirty (30) days prior to the date fixed for redemption. Selection of Bonds for Redemption; Partial Redemption. To effect a partial redemption of Bonds having a common maturity date, the Bond Registrar shall assign to each Bond having a common maturity date a distinctive number for each $5, 000 of the principal amount of such Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers assigned to the Bonds, as many numbers as, at $5, 000 for each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, that only so much of the principal amount of such Bond of a denomination of more than $5, 000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the Issuer or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the Issuer and Bond Registrar duly executed by the Holder thereof or his, her or its attorney duly authorized in writing) and the Issuer shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of the same series having the same stated maturity and interest rate and of any authorized denomination or denomina- tions, as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. Issuance; Purpose; General Obligation. This Bond is one of an issue in the total principal amount of $1, 130,000, all of like date of original issue and tenor, except as to number, maturity, interest rate, denomination and redemption privilege, which Bond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and 292895.1 7 pursuant to a resolution adopted by the City Council of the Issuer on June 12, 1995 (the "Resolution") , for the purpose of providing money to finance the construction of various improvements within the jurisdiction of the Issuer. This Bond is payable out of the General Obligation Improvement Bonds of 1995 Fund of the Issuer. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, and interest when the same become due, the full faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. Denominations; Exchange; Resolution. The Bonds are issuable solely as fully registered bonds in the denominations of $5, 000 and integral multiples thereof of a single maturity and are exchangeable for fully registered Bonds of other authorized denominations in equal aggregate principal amounts at the principal office of the Bond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal office of the Bond Registrar. Transfer. This Bond is transferable by the Holder in person or by his, her or its attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Bond Registrar, all subject to the terms and conditions provided in the Resolution and to reasonable regulations of the Issuer contained in any agreement with the Bond Registrar. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of the transferee (but not registered in blank or to "bearer" or similar designation) , of an authorized denomination or denominations, in aggregate principal amount equal to the principal amount of this Bond, of the same maturity and bearing interest at the same rate. Fees upon Transfer or Loss. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of this Bond and any legal or unusual costs regarding transfers and lost Bonds. Treatment of Registered Owners. The Issuer and Bond Registrar may treat the person in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided (except as otherwise provided on the reverse side hereof with respect to the Record Date) and for all other purposes, whether or not this Bond shall be overdue, and neither the Issuer nor the Bond Registrar shall be affected by notice to the contrary. 29295.1 8 Authentication. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security unless the Certificate of Authentication hereon shall have been executed by the Bond Registrar. Oualified Tax-Exempt Obligation. This Bond has been designated by the Issuer as a "qualified tax-exempt obligation" for purposes of Section 265(b) (3) of the Internal Revenue Code of 1986, as amended. ABBREVIATIONS The following abbreviations, when used in the inscription on the face of this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right of survivorship and not as tenants in common UTMA - as custodian for (Cust) (Minor) under the Uniform (State) Transfers to Minors Act Additional abbreviations may also be used though not in the above list. 292895.1 9 • ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto the within Bond and does hereby irrevocably constitute and appoint attorney to transfer the Bond on the books kept for the registration thereof, with full power of substitution in the premises. Dated: Notice: The assignor's signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or any change a whatever. Signature Guaranteed: Signature(s) must be guaranteed by a national bank or trust company or by a brokerage firm having a membership in one of the major stock exchanges or any other "Eligible Guarantor Institution" as defined in 17 CFR 240. 17 Ad-15(a) (2) . The Bond Registrar will not effect transfer of this Bond unless the information concerning the transferee requested below is provided. Name and Address: (Include information for all joint owners if the Bond is held by joint account. ) 292895.1 10 8. Execution; Temporary Bonds. The Bonds shall be executed on behalf of the City by the signatures of its Mayor and Administrator and be sealed with the seal of the City; provided, however, that the seal of the City may be a printed facsimile; and provided further that both of such signatures may be printed facsimiles and the corporate seal may be omitted on the Bonds as permitted by law. In the event of disability or resignation or other absence of either such officer, the Bonds may be signed by the manual or facsimile signature of that officer who may act on behalf of such absent or disabled officer. Incase either such officer whose signature or facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, such signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if he or she had remained in office until delivery. The City may elect to deliver, in lieu of printed definitive bonds, one or more typewritten temporary bonds in substantially the form set forth above, with such changes as may be necessary to reflect more than one maturity in a single temporary bond. Such temporary bonds may be executed with photocopied facsimile signatures of the Mayor and Administrator. Such temporary bonds shall, upon the printing of the definitive bonds and the execution thereof, be exchanged therefor and canceled. 9. Authentication. No Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this resolution unless a Certificate of Authentication on such Bond, substantially in the form hereinabove set forth, shall have been duly executed by an authorized representative of the Bond Registrar. Certificates of Authentication on different Bonds need not be signed by the same person. The Bond Registrar shall authenticate the signatures of officers of the City on each Bond by execution of the Certificate of Authentication on the Bond and by inserting as the date of registration in the space provided the date on which the Bond is authenticated, except that for purposes of delivering the original Bonds to the Purchaser, the Bond Registrar shall insert as a date of registration the date of original issue, which date is July 1, 1995. The Certificate of Authentication so executed on each Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. 10. Registration1 Transfer; Exchange. The City will cause to be kept at the principal office of the Bond Registrar a bond register in which, subject to such reasonable regulations as the Bond Registrar may prescribe, the Bond Registrar shall provide for the registration of Bonds and the registration of transfers of Bonds entitled to be registered or transferred as herein provided. Upon surrender for transfer of any Bond at the principal office of the Bond Registrar, the City shall execute (if necessary) , and the Bond Registrar shall authenticate, insert 292895.1 11 the date of registration (as provided in paragraph 9) of, and deliver, in the name of the designated transferee or transferees, one or more new Bonds of any authorized denomination or denominations of a like aggregate principal amount, having the same stated maturity and interest rate, as requested by the transferor; provided, however, that no Bond may be registered in blank or in the name of "bearer" or similar designation. At the option of the Holder, Bonds may be exchanged for Bonds of any authorized denomination or denominations of a like aggregate principal amount and stated maturity, upon surrender of the Bonds to be exchanged at the principal office of the Bond Registrar. Whenever any Bonds are so surrendered for exchange, the City shall execute (if necessary) , and the Bond Registrar shall authenticate, insert the date of registration of, and deliver the Bonds which the Holder making the exchange is entitled to receive. All Bonds surrendered upon any exchange or transfer provided for in this resolution shall be promptly canceled by the Bond Registrar and thereafter disposed of as directed by the City. All Bonds delivered in exchange for or upon transfer of Bonds shall be valid general obligations of the City evidencing the same debt, and entitled to the same benefits under this resolution, as the Bonds surrendered for such exchange or transfer. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the Bond Registrar, duly executed by the Holder thereof or his, her or its attorney duly authorized in writing. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of any Bond and any legal or unusual costs regarding transfers and lost Bonds. Transfers shall also be subject to reasonable regulations of the City contained in any agreement with the Bond Registrar, including regulations which permit the Bond Registrar to close its transfer books between record dates and payment dates. The Administrator is hereby authorized to negotiate and execute the terms of said agreement. 11. Rights Upon Transfer or Exchange. Each Bond delivered upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond. 292895.1 12 12. Interest Payment; Record Date. Interest on any Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond is registered (the "Holder") on the registration books of the City maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth (15th) day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date") . Any such interest not so timely paid shall cease to be payable to the person who is the Holder thereof as of the Regular Record Date, and shall be payable to the person who is the Holder thereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given by the Bond Registrar to the Holders not less than ten (10) days prior to the Special Record Date. 13 . Treatment of Registered Owner. The City and Bond Registrar may treat the person in whose name any Bond is registered as the owner of such Bond for the purpose of receiving payment of principal of and premium, if any, and interest (subject to the payment provisions in paragraph 12 above) on, such Bond and for all other purposes whatsoever whether or not such Bond shall be overdue, and neither the City nor the Bond Registrar shall be affected by notice to the contrary. 14. Delivery; Application of Proceeds. The Bonds when so prepared and executed shall be delivered by the Administrator to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obliged to see to the proper application thereof. 15. Fund and Accounts. There is hereby created a special fund to be designated the "General Obligation Improvement Bonds of 1995 Fund" (the "Fund") to be administered and maintained by the Administrator as a bookkeeping account separate and apart from all other funds maintained in the official financial records of the City. The Fund shall be maintained in the manner herein specified until all of the Bonds and the interest thereon have been fully paid. There shall be maintained in the Fund two (2) separate accounts, to be designated the "Construction Account" and "Debt Service Account", respectively. (i) Construction Account. To the Construction Account there shall be credited the proceeds of the sale of the Bonds, less accrued interest received thereon, and less any amount paid for the Bonds in excess of $1, 109,660, and less capitalized interest in the amount of $ (together with interest earnings thereon and subject to such other adjustments as are appropriate to provide sufficient funds to pay interest due on the Bonds on or before June 1, 1996) , plus any special assess- ments levied with respect to the Improvements and collected prior to completion of the Improvements and payment of the costs 292895.1 13 thereof. From the- Construction Account there shall be paid all costs and expenses of making the Improvements listed in paragraph 16, including the cost of any construction contracts heretofore let and all other costs incurred and to be incurred of the kind authorized in Minnesota Statutes, Section 475. 65; and the moneys in said account shall be used for no other purpose except as otherwise provided by law; provided that the proceeds of the Bonds may also be used to the extent necessary to pay interest on the Bonds due prior to the anticipated date of commencement of the receipt of the collection of taxes or special assessments herein levied or covenanted to be levied; and provided further that if upon completion of the Improvements there shall remain any unexpended balance in the Construction Account, the balance (other than any special assessments) may be transferred by the Council to the fund of any other improvement instituted pursuant to Minnesota Statutes, Chapter 429, and provided further that any special assessments credited to the Construction Account shall only be applied towards payment of the costs of the Improvements upon adoption of a resolution by the City Council determining that the application of the special assessments for such purpose will not cause the City to no longer be in compliance with Minnesota Statutes, Section 475. 61, Subdivision 1. (ii) Debt Service Account. There are hereby irrevocably appropriated and pledged to, and there shall be credited to, the Debt Service Account: (a) all collections of special assessments herein covenanted to be levied with respect to the Improvements and either initially credited to the Construction Account and not already spent a permitted above and required to pay any principal and interest due on the Bonds or collected subsequent to the completion of the Improvements and payment of the costs thereof; (b) all accrued interest received upon delivery of the Bonds; (c) all funds paid for the Bonds in excess of $1, 109, 660; (d) capitalized interest in the amount of $ (together with interest earnings thereon and subject to such other adjustments as are appropriate to provide sufficient funds to pay interest due on the Bonds on or before June 1, 1996) ; (e) any collection of all taxes herein or hereafter levied for the payment of the Bonds and interest thereon; (f) all funds remaining in the Construction Account after completion of the Improvements and payment of the costs thereof; (g) all investment earnings on funds held in the Debt Service Account; and (h) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Debt Service Account. The Debt Service Account shall be used solely to pay the principal and interest and any premiums for redemption of the Bonds and any other general obligation bonds of the City hereafter issued by the City and made payable from said account as provided by law. No portion of the proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire higher yielding investments, except (1) for a reasonable 292895.1 14 • temporary period until such proceeds are needed for the purpose for which the Bonds were issued and (2) in addition to ( ) the above in an amount not greater than the lesser of five percent (5%) of the proceeds of the Bonds or $100, 000. To this effect, any proceeds of the Bonds and any sums from time to time held in the Construction Account or Debt Service Account (or any other City account which will be used to pay principal or interest to become due on the bonds payable therefrom) in excess of amounts which under then-applicable federal arbitrage regulations may be invested without regard to yield shall not be invested at a yield in excess of the applicable yield restrictions imposed by said arbitrage regulations on such investments after taking into account any applicable "temporary p eriods" or "minor portion"i on" made available ailable under the federal arbitrage regulations.g g Money in the Fund shall not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumentality thereof -if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section 149 (b) of the Internal Revenue Code of 1986, as amended (the "Code") . 16. Assessments. It is hereby determined that no less than twenty percent (20%) of the cost to the City of each Improvement financed hereunder within the meaning of Minnesota Statutes, Section 475.58, Subdivision 1(3) , shall be paid by special assessments to be levied against every assessable lot, piece and parcel of land benefitted by any of the Improvements. The City hereby covenants and agrees that it will let all construction contracts not heretofore let within one (1) year after ordering each Improvement financed hereunder unless the resolution ordering the Improvement specifies a different time limit for the letting of construction contracts. The City hereby further covenants and agrees that it will do and perform as soon as they may be done all acts and things necessary for the final and valid levy of such special assessments, and in the event that any such assessment be at any time held invalid with respect to any lot, piece or parcel of land due to any error, defect, or irregularity in any action or proceedings taken or to be taken by the City or the City Council or any of the City officers or employees, either in the making of the assessments or in the performance of any condition precedent thereto, the City and the City Council will forthwith do all further acts and take all further proceedings as may be required by law to make the assessments a valid and binding lien upon such property. The special assessments have not heretofore been authorized, and accordingly, for purposes of Minnesota Statutes, Section 475.55, Subdivision 3 , the special assessments are hereby authorized. Subject to such adjustment as are required by conditions in existence at the time the assessments are levied, the assessments are hereby authorized and it is hereby determined that the assessments shall be payable in equal, consecutive, annual installments, with general taxes for the years shown below and with interest on the declining balance of all such assessments at 292895.1 15 • a rate per annum not greater than the maximum permitted by law and not less than % per annum: Improvement Collection Designation Amount Levy Years Years At the time the assessments are in fact levied the City Council shall, based on the then-current estimated collections of the assessments, make any adjustments in any ad valorem taxes required to be levied in order to assure that the City continues to be in compliance with Minnesota Statutes, Section 475. 61, Subdivision 1. 17. Tax Levy; Coverage Test. To provide moneys for payment of the principal and interest on the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Year of Tax Levy Collection Amount 1996 1997 $ 1997 1998 1998 1999 1999 2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 The tax levies are such that if collected in full they, together with estimated collections of special assessments and other revenues herein pledged for the payment of the Bonds, will produce at least five percent (5%) in excess of the amount needed • to meet when due the principal and interest payments on the Bonds. The tax levies shall be irrepealable so long as any of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475. 61, Subdivision 3 . 292895.1 16 F • 18. Defeasance. When all Bonds have been discharged as provided in this paragraph, all pledges, covenants and other rights granted by this resolution to the registered holders of the Bonds shall, to the extent permitted by law, cease. The City may discharge its obligations with respect to any Bonds which are due on any date by irrevocably depositing with the Bond Registrar on or before that date a sum sufficient for the payment thereof in full ; or if any Bond should not be paid when due, it may nevertheless be discharged by depositing with the Bond Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. The City may also discharge its obligations with respect to any prepayable Bonds called for redemption on any date when they are prepayable according to their terms, by depositing with the Bond Registrar on or before that date a sum sufficient for the payment thereof in full, provided that notice of redemption thereof has been duly given. The City may also at any time discharge its obligations with respect to any Bonds, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a suitable banking institution qualified by law as an escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, Subdivision 8, bearing interest payable at such times and at such rates and maturing on such dates as shall be required, without regard to sale and/or reinvestment, to pay all amounts to become due thereon to maturity or, if notice of redemption as herein required has been duly provided for, to such earlier redemption date. 19. Compliance With Reimbursement Bond Regulations. The provisions of this paragraph are intended to establish and provide for the City' s compliance with United States Treasury Regulations Section 1. 150-2 (the "Reimbursement Regulations") applicable to the "reimbursement proceeds" of the Bonds, being those portions thereof which will be used by the City to reimburse itself for any expenditure which the City paid or will have paid prior to the Closing Date (a "Reimbursement Expenditure") . The City hereby certifies and/or covenants as follows: (a) Not later than 60 days after the date of payment of a Reimbursement Expenditure, the City (or person designated to do so on behalf of the City) has made or will have made a written declaration of the City's official intent (a "Declaration") which effectively (i) states the City's reasonable expectation to reimburse itself for the payment of the Reimbursement Expenditure out of the proceeds of a subsequent borrowing; (ii) gives a general and functional description of the property, project or program to which the Declaration relates and for which the Reimbursement Expenditure is paid, or identifies a specific fund or account of the 292895.1 17 City and- the general functional purpose thereof from which the Reimbursement Expenditure was to be paid (collectively the "Project") ; and (iii) states the maximum principal amount of debt expected to be issued by the City for the purpose of financing the Project; provided, however, that no such Declaration shall necessarily have been made with respect to: (i) "preliminary expenditures" for the Project, defined in the Reimbursement Regulations to include engineering or architectural , surveying and soil testing expenses and similar prefatory costs, which in the aggregate do not exceed 20% of the "issue price" of the Bonds, and (ii) a de minimis amount of Reimbursement Expenditures not in excess of the lesser of $100,000 or 5% of the proceeds of the Bonds. Notwithstanding the foregoing, with respect to any Declaration made by the City between January 27, 1992 and June 30, 1993 , with respect to a Reimbursement Expenditure made prior to March 2 , 1992 , the City hereby represents that there exists objective evidence, that at the time the Expenditure was paid the City expected to reimburse the cost thereof with the proceeds of a borrowing (taxable or tax-exempt) and that expectation was reasonable. (b) Each Reimbursement Expenditure is a capital expenditure or a cost of issuance of the Bonds or any of the other types of expenditures described in Section 1. 150- 2 (d) (3) of the Reimbursement Regulations. (c) The "reimbursement allocation" described in the Reimbursement Regulations for each Reimbursement Expenditure shall and will be made forthwith following (but not prior to) the issuance of the Bonds and in all events within the period ending on the date which is the later of three years after payment of the Reimbursement Expenditure or one year after the date on which the Project to which the Reimbursement Expenditure relates is first placed in service. (d) Each such reimbursement allocation will be made in a writing that evidences the City's use of Bond proceeds to reimburse the Reimbursement Expenditure and, if made within 30 days after the Bonds are issued, shall be treated as made on the day the Bonds are issued. Provided, however, that the City may take action contrary to any of the foregoing covenants in this paragraph 19 upon receipt of an opinion of its Bond Counsel for the Bonds stating in effect that such action will not impair the tax-exempt status of the Bonds. 20. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Bonds, as the 292895.1 18 same respectively become due, the full faith, credit and taxing powers of the City shall be and are hereby irrevocably pledged. If the balance in the Debt Service Account is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency shall be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein. 21. Certificate of Registration. The Administrator is hereby directed to file a certified copy of this resolution with the County Auditor of Washington County, Minnesota, together with such other information as he or she shall require, and to obtain the County Auditor's certificate that the Bonds have been entered in the County Auditor's Bond Register and that the tax levy required by law has been made. 22 . Records and Certificates. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser, and to the attorneys approving the legality of the issuance of the Bonds, certified copies of all proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. 23 . Negative Covenant as to Use of Proceeds and Improvements. The City hereby covenants not to use the proceeds of the Bonds or to use the Improvements, or to cause or permit them to be used, or to enter into any deferred payment arrangements for the cost of the Improvements, in such a manner as to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code. 24 . Tax-Exempt Status of the Bonds; Rebate. The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Bonds, including without limitation (1) requirements relating to temporary periods for investments, (2) limitations on amounts invested at a yield greater than the yield on the Bonds, and (3) the rebate of excess investment earnings to the United States if the Bonds (together with other obligations reasonably expected to be issued and outstanding at one time in this calendar year) exceed the small-issuer exception amount of $5, 000, 000. 292895.1 19 For purposes of qualifying for the exception to the federal arbitrage rebate requirements for governmental units issuing $5,000, 000 or less of bonds, the City hereby finds, determines and declares that (1) the Bonds are issued by a governmental unit with general taxing powers, (2) no Bond is a private activity bond, (3) ninety-five percent (95%) or more of the net proceeds of the Bonds are to be used for local governmental activities of the City (or of a governmental unit the jurisdiction of which is entirely within the jurisdiction of the City) , and (4) the aggregate face amount of all tax-exempt bonds (other than private activity bonds) issued by the City (and all subordinate entities thereof, and all entities treated as one issuer with the City) during the calendar year in which the Bonds are issued and outstanding at one time is not reasonably expected to exceed $5, 000, 000, all within the meaning of Section 148 (f) (4) (D) of the Code. 25. Designation of Qualified Tax-Exempt Obligations. In order to qualify the Bonds as "qualified tax-exempt obligations" within the meaning of Section 265 (b) (3) of the Code, the City hereby makes the following factual statements and representations: (a) the Bonds are issued after August 7, 1986; (b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; (c) the City hereby designates the Bonds as "qualified tax-exempt obligations" for purposes of Section 265 (b) (3) of the Code; (d) the reasonably anticipated amount of tax-exempt obligations (other than private activity bonds, treating qualified 501 (c) (3) bonds as not being private activity bonds) which will be issued by the City (and all entities treated as one issuer with the City, and all subordinate entities whose obligations are treated as issued by the City) during this calendar year 1995 will not exceed $10, 000, 000 ; and (e) not more than $10, 000, 000 of obligations issued by the City during this calendar year 1995 have been designated for purposes of Section 265 (b) (3) of the Code. The City shall use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designation made by this paragraph. 26. Severability. If any section, paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability 292895.1 20 • of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. 27. Headings. Headings in this resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing resolution was duly seconded by member and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: and the following voted against the same: Whereupon said resolution was declared duly passed and adopted. 292895.1 21 P STATE OF MINNESOTA COUNTY OF WASHINGTON CITY OF OAK PARK HEIGHTS I, the undersigned, being the duly qualified and acting Administrator of the City of Oak Park Heights, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council of said City, duly called and held on the date therein indicated, insofar as such minutes relate to considering bids for, and awarding the sale of, $1, 130, 000 General Obligation Improvement Bonds of 1995 of said City. WITNESS my hand this 12th day of June, 1995. Administrator 292895.1 22 a EXHIBIT A BIDS [To be supplied by Juran & Moody, Inc. ][ PP Y Y. 292895.1 1.1,14 " '"c JURAN & MOODY, INC. INVESTMENT SECURITIES SINCE 1939 SAINT PAUL,MN 55101-2091 MINNEAPOLIS,MN 55402.3300 HOUSTON,TR 77027-9008 CLEARWATER,FL 346194036 Minnesota Mutual Life Center 130 International Centre 1177 West Loop South Two a Place 400 North Robert Street,Suite 800 900 Second Avenue South Suite 1850 2650 McCormick Drive, Suite 150 (612)224-1500 (612)339-8100 (713)961-1882 (813)791-8897 (800)950-4666 (800)950-5444 (800)950-2055 Fax: (612)22401524 Fax:(800) 339-2019� Fax: (713)961-0962 Fax: (813)725-9973 TABULATION OF BIDS CITY OF OAK PARK HEIGHTS,MINNESOTA $1,130,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1995 AWARD: DOUGHERTY,DAWKINS,STRAND&BIGELOW DATE OF SALE: MONDAY,JUNE 12,1995 MOODY'S RATING: A BIDDER INTEREST RATE NET INTEREST COST (RATE) DOUGHERTY,DAWKINS,STRAND 4.05% - 1996 &BIGELOW 4.15% - 1997 4.25% - 1998 4.40% - 1999 430% - 2000 4.55% - 2001 4.65% - 2002 4.75% - 2003 5.00% - 2004/05 PURCHASE PRICE: $1,124,350.00 $332,636.25 (4.7718%) NORWEST INVESTMENT SERVICES,INC. 3.90% - 1996 4.10% - 1997 4.25% - 1998 4.40% - 1999 4.50% - 2000 4.60% - 2001 4.70% - 2002 4.80% - 2003 4.90% - 2004 5.00% - 2005 PURCHASE PRICE: $1,120,960.00 $335,949.58 (4.819%) FIRSTAR BANK MILWAUKEE N.A. 4.000% - 1996 OPPENHEIMER&CO.,INC.)CO-MANAGER 4.250% - 1997 4.350% - 1998 4.450% - 1999 4.550% - 2000 4.625% - 2001/02 4.750% - 2003 4.875% - 2004 5.000% - 2005 PURCHASE PRICE: $1,120,918.60 $336,192.23 (4.8228%) CITY OF OAK PARK HEIGHTS,MINNESOTA $1,130,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1995 PAGE 2 PRUDENTIAL SECURITIES,INC. 4.100% - 1996 DEAN WITTER,INC. )CO-MANAGER 4.200% - 1997 4.300% - 1998 4.400% - 1999 4.500% - 2000 4.600% - 2001 4.700% - 2002 4.750% - 2003 4.800% - 2004 4.875% - 2005 PURCHASE PRICE: $1.117,036.00 $337,328.17 (4.8391%) PIPER'AFFRAY INC. 4.00% - 1996 JOHN G.KINNARD)CO-MANAGER 4.10% - 1997 4.20% - 1998 4.35% - 1999 4.50% - 2000 4.55% - 2001 4.65% - 2002 4.70% - 2003/04 4.80% - 2005 PURCHASE PRICE: $1,109,660.00 $340,295.83 (4.8817%) SMITH BARNEY SHEARSON 4.00% - 1996 CRONIN&CO.,INC.)CO-MANAGER 4.10% - 1997 4.25% - 1998 4.40% - 1999 4.50% - 2000 4.60% - 2001 4.70% -2002 4.80% - 2003 5.00% - 2004/05 PURCHASE PRICE: $1,113,534.91 $344,603.84 (4.9435%) PAINEWEBBER,INC. 4.00% - 1996 4.15% - 1997 4.30% - 1998 4.50% - 1999 4.65% - 2000 4.75% - 2001 4.90% - 2002 5.00% -2003 5.05% - 2004 5.15% - 2005 PURCHASE PRICE: $1,116,440.00 $350,919.58 (5.0341%) MINNESOTA MUNICIPAL BOND SALES JUNE 1995 DATE MAnaini MUNICIPALITY AMOUNT TYPE RATING MC 6- 1 16 Zumbrota $ 345,000 G.O. Bonds, Series A Baa 5.52 6- 1 10 Zumbrota 620,000 G.O. Bonds, Series B Baa 5:22 6- 5 14 Cleveland 430,000 G.O. Sewer&Water Revenue NR 5.33 6- 5 21 Moorhead 1,890,000 G.O. Bonds A 5.10 6- 5 22 Big Lake 1,340,000 G.O. Wastewater Revenue AAA 5.56 AMBAC 6- 5 17 Buffalo 6,575,000 G.O. Bonds AAA 5.52 AMBAC 6- 6 10 County of Pipestone 605,000 G.O. Bonds NR 5.01 6- 6 15 New Ulm 2,200,000 G.O. Bonds, Series A AAA 5.05 CGIC 6- 6 10 New Ulm 1,000,000 G.O. Bonds, Series B A 1 4.67 6- 6 16 Crystal 2,160,000 G.O. Bonds A 1 5.09 6- 7 10 Duluth 4,705,000 G.O. Bonds AAA 4.73 CGIC 6- 7 15 Duluth 5,070,000 G.O. Bonds AAA 5.18 AMBAC 6- 7 15 Duluth 8,015,000 G.O. Bonds AAA 5.08 MBIA 6- 12 2 McIntosh 355,000 G.O. Temp. Water System NR 4.90 6- 12 20 Le Sueur 2,980,000 G.O.Water Revenue MBIA 5.52 6- 12 10 Oak Park Heights 1,130,000 G.O. Improvement A 4.77 JURAN & MOODY, INC. • . S6J L1S S� f6Ll : 56I I6 < �_ .:.: .::::....:::.:.:. ...:.:>.:: ....:::..: ..... .... . ...:.:::... :..::...:::.::::::.'::.?:.;:::. .....::::: ::::::::: :::::: :::::::::: :::.:::::: ::::::::: :;:: :>:::�:: •_ :i.. .....0.s:: : : . ; _: ........................ w:::. ..... :....:......�::::•w:�:::::-......::nw::::::::::.�:...' :....:....... .... .:..:..........................::.: lRx:::p`ii:.;:ii;::v::f.•.tv:::.:S:i?::::::v: ii:S 6 .::::::.:::::.: iii:..::?;.:•:% v;.:•: •i?.:^..:P:•i;...i:.:�??:•.::�:;:::.:y?i:i .'. :::::-::::::•:..::...::::::::::.:'..:::::�:.:::::. :.�:<4.::;4.}..'-iii?..: ?C:..:;::...:.�;::•J:�:.:-:;:::,.:v-if.i:-i::i ir: :::'..:?'• : ::.i:':r:.::::::.•::::::::::v:j.::=:i.?:.:::::::::...• :••„,.„••••._•••••••••••••................•..,..........•••••••••••i : ••i: • c�{ 5�, c l can_ ( '�-� U�z �� 0 cuz ('/C16?Ser) J • 4 •o c t, a u G Buzz vl c �� ck cue,, 2 5 y v s TA-LA& , I MEMO L 5� cuA tint '� odd- 5 tl( r u1 `, eUu1 -• Pakkment Conde-ion rndex ((tr.) ad2"(41j COO o.0 1- Date : January 13 , 1995 Yule vl o To: Mayor, Council, City Administrator & City Engineer From: Janet Robert, Councilmember Re : City Wide Street Reconstruction Program I would like for the City Engineer to be prepared to answer the following questions regarding the City-Wide Street Reconstruction Program at the Council meeting of January 23 , 1995 . Criteria: What precisely are the criteria used to select streets for reconstruction phases? How did you select streets? Did you develop a comprehensive rating system with clear cut criteria (i .e. drainage problems, cracks, age, boring results, deflection testing results, usage, projected useful life, etc. ) and a list of each street section and how it meets that criteria? Where does each ,P. -11a. street section stand on the Street Life Cycle? �^n¢ 7e sfi.r�9' ) I rea the report on testing of roads, but I do not see a direct I `^ "„j,,,ngl correlation between those results and selection of streets for Phase A. It seems that Phase A is too large, encompassing streets obviously in need of repair and those which are Q , ,� �(5:5 na nett ) s f ol e• (I c '1- Phase f} fo s m sCAA-;e. . Timetable: Why is the entire reconstruction program to be done over such a short timetable? Can it be extended over a longer period of time . These questions should be answered in relation to the above criteria. For example, are all the streets in this program going to be cracking up in just seven years? My concern is that the shorter the timetable the higher the borrowing costs, because we have less flexibility in raising construction funds from tax levies . For every dollar in borrowing, the overall costs increase by 48% ! I have been told that each phase must be a minimum size to maximize the cost savings in the bidding process . What is that size? Concrete Curbs & Gutters: How much of the cost of the entire reconstruction is attributed to concrete curbs? How much will the City save if it uses asphalt instead of concrete curbs and gutters? What are the verifiable engineering and cost benefits of using concrete over asphalt . I have heard that the three reasons for using concrete are drainage, snowplow damage to asphalt curbs, and image . /mf7rc(:QOk ;tyeet (ice. Isn' t the snowplow damage greater on streets where snowplows go fast and isn' t this an area where due to the residential character and narrower streets the plows go slower? Do you have costs on the City' s replacement of curbs each year in the past due to snowplow damage? As for image, many people have complained to me that concrete curbs are not necessary for the modest image of their neighborhoods and would only increase their property value and corresponding ondin g taxes. r Ere/2431AL 41- 5A CITY OF OAK PARK HEIGHTS ,_ ,,- .:4::: . . . ,,, , , ,,,,,..„ _ ... ,....„:„.„, ..„:„.. ' A MINNESOTA STAR CITY January 12, 1995 Dear Oak Park Heights Property Owner: A public hearing has been scheduled by the Oak Park Heights City Council for 7 : 30 P .M. Monday, January 23 , 1995 at City Hall , 14168 N. 57th Street . The purpose of the hearing is to discuss proposed street improvements in the area shown below. The proposed improvements are similar to those discussed at previous meetings on February 14, 1994 and October 20, 1993 . Due to the nature of the improvements, it is proposed to assess a portion of the project cost to the abutting residential property owners on a lot equivalent basis . Your property is included in the project and is proposed to be assessed. The estimated assessment per residential lot is 2 . 645/unit- , Commercial, industrial, and high density property is proposed to be assessed on a front foot basis, estimated at $31 . 85/front foot . Approximately 40°s of tl e project cost is proposed to be assessed to property owners. We encourage your attendance . Sincerely, CITY OF OAK PARK HEIGHTS r -zriG��GGE�� i�y"zc1- Michael Robertson City Administrator 14168 North 57th Street • Box 2007 • Oak Park Heights, Minnesota 55082-2007 Phone: 612-439-4439 • Fax: 612-439-0574 5 MEMO Date : January 19, 1995 To : Mayor & Council From: Mike Robertson, City Administrator Re : Street Reconstruction Public Hearing I have enclosed the following items for the street reconstruction hearing; Enclosure 5A - A copy of the letter sent to affected City property owners about this hearing; Enclosure 5B - The feasibility report and a revised project schedule from the City Engineer. Enclosure 5C - An examination of possible financing options from City Auditor Tautges, Redpath, Inc . liii O I , , .= iiiiIiii - 14i:411111 MEM 4iII1Ia 'ti 1 § MI rill co . I i III aTITAIll' C-.) • 1111 II* J . . u.ua111. C.: 1111- 411A- Of "0°6 .,7. 1 f4i II En awl 1111 . 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PiLetAt Lot 614,4.tioL1d7 tr7^ . 074 a: . actctubLi_ ) / 0/.7.5' M3-7 V3}193— i! 1E:7Z )10 t--,v 4-8d7- -s 44-2 S.-6Afs rokr-civ, /3o/.9;-- (/ /r P/11-7/P-- 2 i)30 lq we( 0.0 C/11 / 1/ (6,6,04d //35 /4/78 6 opptr $ f_ I - 0— 417 6-524, ( i ) - .3 0-'Tr /c/Vr 7/)// t cr,/ _ /- Y741 - f/ - j-S-Trt To. ' DRAA,C61■14 30 -9 c )rj)72 czi4ae,t, 53-175t NiC14.A. Sw-e-fka i /30/ q AligAi ufa/a,5:5-&-_,s-,4, A/ • r , . 4"? 4 7r/x • f C.): I ENCLOSURE 11 MEMO Date : March 23 , 1995 To: Mayor & Council From: Mike Robertson, City Administrator Re: Street Reconstruction - Area A - Plans & Specs Approval Joe Anderlik will be bringing the Plans & Specifications for Area A Street Reconstruction before Council for approval on Monday. (XiiitYC 14-C6000 SAU I 015 5f `�2C C CO (A/Z-1 rli rr1 111 Se W4� 5 hAit l se�,`P� St lel� 0 b rC k(ck- !'r 1.),1Ok OW-AL `- 21-1 z : e p MAR-24-1995 09:45 NAC 612 595 9837 P.02/08 ENCLOSURE 6 A Northwest Associated Consultants , Inc . C U R B A N P L A N N I N G • D E S I G N • M A R K E T R E S E A R C H , 1 0/ . \‘1 MEMORANDUM Om„ x IN9SY, N 1 TO: Oak Park Heights City Council PROM: Dan Wilson DATE: 23 March 1995 RE: Oak Park Heights - Modification No. 1 to St. Croix Mall TIP FILE NO: 798.02 - 95.01 Attached is a draft TIP Plan Modification that will permit the City to use tax increments generated by the St. Croix Mall to pay for storm sewer extension and utility system repairs. 14, ecember 22 ath and Company report calculated these expenses at 0 c $736,200 that were not to be assessed. 2 `'s 4. 1 The original TIP Plan had already provided for 4: ,IT;91.XL.111r. • • , • •• • cos.,:/' L The original plan did not describe the project area to include the area south of 57th street North' Therefore, the modification will permit the use of TIP funds on 56th §reet No., 55th Street N. 'I Omar Avenue, Ob�n Avenue No. and Omaha Avenue No. A 41 i s•� 7 The approval process is as follows: 1411v,- 0 1 c(i e. l ( " 1. City Council holds public hearing. 2. City Council adjourns. 3. ERA meeting called to order (your staff posted the required 3 day notice for an HRA meeting). 4. HRA considers resolution approving Modification No. 1. 5. KRA adjourns. 6. City Council reconvenes. 7. City Council considers resolution. We will prepare the final draft subject to any changes the Council would like to make. 5775 Wayzata Blvd.• Suite 555 • St. Louis Park, MN 55416 • (612) 595-9636•Fax. 595-9837 ENCLOSURE 13 • U,•nr•,tr,r; rhr%enrt AMYL.,hk dna ASSociow..Irsr I%..i AII/U M/1We r1CtrwVCcfu.+1 Opporrwvey Frnybyel Bonestroos'rlr,(y g;:rs•,l+n,r.PE ^'oward A.S.vllura."S %tich.wI C LynCr.Pr. Orlon K Gospr,Pr Rosene arnsrnr• Pr• Kcltn A (x,rnen,PE lames R.Malan,S.:'C Keltlr R 'moo PE n nrr'•I. And4•11*.PE. ltr.Derr R Prcff!•ile,I'f: ;city U Pertncr, P: DOut IaS 1 Bl'rK,N.PE f� Ar. Pr Richard W Fu,rc•r PF -rrort J Argerrek,^F Snewn R c;ustohnn,PE. AnderllkRI,c•,+,a F 1.v/id O lOSkc,lel.{.. Kent Nov,P MO:!SCr.'E CKJ+n Ulrvrrr,PE M S d!•^�4 '..,e.:'C RODert C.Roark,A I A M,Irk R RCICS.PE. Paul( ■ltuer,PF. Associates f,,,r:rr..., ...yc, rr furry A euwdun,PE Mark A.SeiO.' Jorvr P Gorden.PE �h>,x �,hunh ht,PE Mart A.Han,on,PC Cony W Mor err,?C OCn O.BOyutn,PF. M ;•c'•nri.C",'A Masher!T Rdutmdnn.Pr CAW J.German,A A Jeffrey b 6hlennger,PC. Engineers &Architects s^?S)Ir,urt Ted K FIPIO.et Canal J EagertCr PE. Joseph R Rhcrn.PE Thom.,,R Andrnun.A A A RI,t Scnm d:,PC Lee M Mann,CI: Donald t B g. Irdt,PF. Pnlhp J Ceswra,'E CharIt'r A.Erickson Thomas A Sy?kO.Pr M.ak D.WAIIIS PE lee M PawcIsky rrPOPne J Ster'Dura7,PE Miles B Jenson.PE. Narlen M.C)I..Sll Ismael M.Vtbtt•,,PE. I. NIIIIUp Grave: Pr. Agnrn M Rrng April 20, 1995 Mlcrom P Reu,PE Karer,l Worm:, PC Jamec f Engeln,ent rnOm.cs W P,. run.NC nary 1) Knstol:...?C City of Oak Park Heights P.O. Box 2007 Oak Park Heights, MN 55082 Dear Council members: A resident living within this year's reconstruction project limits has raised an issue that needs to be considered by the City Council. In the past, residents have been allowed to connect discharge pipes for sump pumps, footing drains, and pools directly to the curb. The resident raising this issue wants to know if he will be allowed to connect his discharge pipe to the new concrete curb and gutter. It is our opinion that this direct discharge into the street not be allowed for the following reasons: 1. A concentrated direct discharge onto a street allows for ice build up in the area during spring and fall, thus creating a safety issue. 2. If connected to the concrete curb and gutter,t4 pipes would be placed within the City's right-of-way and would cause future cope' dicta with any excavations, private utility installations, etc. within the boulevard area. —. 3. Water with con amnia js in it that is directly discharged into the street has a direct route into the storm sewit and consequently the downstream lakes and ponds. A solution to this situation is to allow the water to filter through an area covered with vegetation before it reaches the storm sewer system. Our recommendation to the City Council would be to decide that this type of discharge pipe must end at the property line which will allow the water to be discharged over land and filtered before it reached the streets and the storm sewer system. This would also alleviate any future conflicts created by allowing private discharge pipes on City property, as well as eliminating icy buildups in the street. If you would like any further information regarding this issue please do not hesitate to call. Yours Very Truly, BONESTROO, ROSENE, ANDERLIK & ASSOCIATES,INC. ( 9( ( alai( Carol Caron CC:lk 2335 West Highway 36 • St. Paul, MN 55113 • 612-636-4600 20'd 'OSSb' 2 OO2i.S9NO9 II£i 929 219 SS:OT 9661-02-b0 ENCLOSURE I Bonestroo Bidder Total Base Bid inn Rosen Anderlik& Address Telephone No. Associates Engineers&Architects City,State,Zip Fax No. St.Paul•Milwaukee ADDENDUM NO. 1 13 1995 STREET RECONSTRUCTION PROJECT C �'�� ' � . FILE NO. 55113 I OAK PARK HEIGHTS, MINNESOTA APR 26 :1' 'J1 April 25, 1995 jil � � Opening Time: 11:00 A.M., C.D.S.T. Opening Date: Friday, April 28, 1995 Addendum No. 1 The following portions of the specifications shall be modified as follows: 2105.4. METHOD OF MEASUREMENT: The bid item referred to as reclaim removal, subgrade excavation and reclaim placement shall be measured on the basis of lineal feet of street on which this procedure is performed. The work to be performed shall be as described in Section 2105.3. CONSTRUCTION REQUIREMENTS and shall be 35 feet in width. Measurement for reclaim removal, subgrade excavation, and reclaim placement of widths greater or less than 35 feet shall be converted to that width on a proportional basis. All streets have been surveyed and cross-sectioned at 50 foot intervals throughout the site. The cross sections are not a part of the bid plans, however they will be made available to the successful low bidder for their information and use in the construction process. 2116.3.1. CORE EXCAVATION: The first sentence should be modified to indicate a depth of 23 inches in lieu of 18 inches. BONESTROO, ROSENE, ANDERLIK & ASSOCIATES, INC. 2335 WEST HIGHWAY 36 ST. PAUL, MINNESOTA 55113 (612) 636-4600 55113ar11.add Enclosure 10A Bonestroo,Rosene.Anderlik and Associates,Inc.is an Affirmative Action/Equal Opportunity Employer Bonestroo Otto G.Bonestroo.PE. Howard A Sanford.PE. Michael C.Lynch,PE. Brian K.Gage.PE. Robert W.Rosene,PE.' Keith A.Gordon.,PE. James R.Maland.PE. Keith R.Yapp.PE. Rosene .11 Joseph C.Anderlik,PE. Robert R.Pfefferle.PE. Jerry D.Pertzsch,PE. Douglas J.Benoit.PE. Marvin L.Sorvala.PE. Richard W.Foster.P.E. - Scott J.Arganek,P.E. Shawn D.Gustafson.P.E. Nul Anderlik & Richard E.Turner,PE David O.Loskota,PE. Kenneth P Anderson,PE. Cecilio Olivier,P.E. Glenn R.Cook,PE. Robert C.Russek.A.I.A. Mark R.Rolfs,RE. Paul G.Heuer,PE. AssociatesThomas E.Noyes.PE. Jerry A Bourdon,PE. Mark A.Seip,PE. John P Gorder.PE. Robert G.Schunicht.PE. Mark A.Hanson.P.E. Gary W.Morien,P.E. Dan D.Boyum,PE. Susan M.Eberlin,C.P.A. Michael T.Rautmann,PE. Paul J.Gannon,A.I.A. Jeffrey J.Ehleringer.PE. Engineers&Architects Senior Consultant Ted K.Field.PE. Daniel J.Edgerton.PE. Joseph R.Rhein,P.E. Thomas R.Anderson.A.I.A. A.Rick Schmidt,P.E. Lee M.Mann.P.E. Donald C.Burgardt.PE. Philip J.Caswell,PE. Charles A.Erickson Thomas A.SyFko,PE. Mark D.Wallis,PE. Leo M.Pawelsky Frederic J.Stenborg,PE. Miles B.Jensen.PE. Harlan M.Olson Ismael Martinez,PE. L.Phillip Gravel,PE. Agnes M.Ring May 1, 1995 Michael P.Rau,P.E. Karen L.Wiemeri,P.E. James F.Engelhardt Thomas W.Peterson.PE. Gary D.Kristofitz,PE. City of Oak Park Heights v D 14168 57th Street North MAY 4 1996 Oak Park Heights, MN 55082 ' Re: 1995 Street Reconstruction Project File 55113 Honorable Mayor and City Council: On Friday, April 28, 1995 bids were received by the City for the 1995 Street Reconstruction Project. There were six(6) plan holders who could have bid the work as the General Contractor,but only three (3) chose to submit bids as summarized below: Low Tower Asphalt,Inc. $995,280.83 #2 Valley Paving $1,055,611.65 #3 Danner, Inc. $1,112,686.31 The low bid submitted by Tower Asphalt,Inc.in the amount of$995,280.83 is based on doing the entire. project in 1995 and is $118,720.00 below the Engineers estimate. The Alternate bid to do the second phase of construction in 1996 would add another$104,585.50 to the construction cost. The low bid received is very favorable and provides for substantial savings by doing all of the work in the 1995 construction season. Therefore, it is recommended that the contract be awarded to Tower Asphalt, Inc. in the amount of$995,280.95 which is the base bid amount not accepting the Alternate bid. We are enclosing six(6) copies of bid tabulation for the project for your information and file. Should you have any questions,please feel free to contact me at 636-4600. Yours very truly, BONESTROO, ROSENE, ANDERLIK & ASSOCIATES, INC. Joseph C. Anderlik JCA:rb:enc 2335 West Hiahwav 36 • St. Paul. MN 55113 • 612-636-4600 400PEnclosure 13 Northern States Power Company Gas Utility 825 Rica Street Saint Paul, Minnesota 55117-5459 - - - DATE: 5-12-95 PROJECT #: OPGR 57S AA8 APPLICATION OF THE NORTHERN STATES POWER COMPANY la: City of Oak Park Heights Mike Robertson 14168 57th St. No. 11 MAY 1 5 1995 • Oak Park Heights, Mn. 55082 Application is hereby made for permission to place, construct and thereafter . maintain: 18,055' of plastic gas main in Oak Park Hgts. street reconstruction area. Type of Utility - General Description Natural Gas Work to be stared 5-22-95 and completed by 11-1-95 Application approved: Application sucrrri tted by: NORTHERN STATES POWER COMPANY Sy: • 7# - A Jeffrey S. McGraw 229-2478 GAS AREA REPRENSENTATI_VE Oats: FRM:-RMS • Enclosure 10 MEMO Date : May 5 , 1995 To : Mayor & Council From: Mike Robertson, City Administrator Re : Street Reconstruction - Bids & Analysis I have enclosed (Enclosure 10A) a copy of a letter from Joe Anderlik discussing the Street Reconstruction Bids and making a recommendation. I have also enclosed a financial analysis of the Street Reconstruction Improvement for Area "A" by Tautges, Redpath. David Mol will be at the Council meeting Monday night to answer any questions about the analysis . Steve Mattson and Tom Truzynski of Juran & Moody will also be at the meeting Monday night to discuss the bonding process for this improvement . OAK PARK HEIGHTS, MN 1995 STREET RECONSTRUCTION PROJECT FILE 55113 ENGINEERS ESTIMATE: $ 1,114,000 BID DATE: APRIL 28, 1995 BID TIME: 11:00 A.M. CONTRACTORS TOTAL BASE BID CURB MASTER BROWN & CIRS 3. ARCON CONSTRUCTION 4. C W HOULE CONSTRUCTION 5. BURSCHVILLE CONSTRUCTION 6. ASHBACH CONSTRUCTION 7. NORTHDALE CONSTRUCTION 8. VALLEY PAVING 1) 055-) 6// , &s (5? �03/, 9. DANNER / fc9)) (c1;E(C. , 3 / O�l �, - 10.MASTER ASPHALT 11.PENN CONTRACTING &OWER ASPHALT qC15- .=P• 0 , 6.3 13.CONCRETE ACCENTS l 14.KNIFE LAKE CONCRETE 15.SCHIELD CONSTRUCTION 16. 17. *pox l _/l di 18. 19. Ien,e/ E6)/1/4///e5 20. 21. 22. 23. 24. I:\use rs\rccep t\bidlist MEMO Date : June 26 , 1995 To: Mayor & Council From: Mike Robertson, City Administrator Re: Street Reconstruction - Request for Payment No. 1 Tower Asphalt has submitted a request for payment of $311, 015 . 75 . This is their first request for payment . Carol Caron of Bonestroo Engineering has OK' d their request for payment . The total contract amount is $995, 280 . 83 . 5% of the contract amount will be retained as security until the job is finished. Enclosure A MEMO Date : September 27, 1996 To: Mayor & Council From: Mike Robertson, City Administrator Re: Sod Complaints After a while, listing everyone who called about their boulevard sod this week on an individual complaint form seemed a little redundant . Below is a list of everyone who called this week who ' s complaint can be summed up as; "Why wasn' t my sod replaced! ! ?" All complaints have been referred to Carol Caron and she has been trying to contact everyone who has called. 1. Mrs . Smith 14372 57th Street 439-4437 2 . Thomas Radke 5819 Oldfield Ave 439-5234 3 . Josephine Lentz 14464 55th Street 439-5090 4 . Auldon Johnson 14523 57th Street 439-2523 5 . Gary Moody 5810 Oldfield Ave 439-8383 6 . Jim Philen 14618 Upper 56th Street 439-0699 • • • CITY OF - ' - OAK PARK HEIGHTS 14168 N. 57th Street•Box 2007.Oak Park Heights,MN 55082 • Phone: (612) 439-4439•FAX 439-0574 October 7, 1996 Dear residents of the Oak Park Heights Reconstruct Project: g Project: You may have noticed the final restoration work on the project taking place recently. I would like to apologize for the delay in performing this work. The original sod contractor went out of business and Tower Asphalt hired a new contractor to perform the repair work to the original sod installation. The work the new contractor did included sod replacement as well as placing black dirt and seed on the unacceptable areas. The contractor will be responsible to water the sod and seed for 30 days after it was placed. The residents will then be responsible to water and care for it after this time period. The sod and seed will not completely take root this fall,and it will need extra water next spring in order to do so. It is also a good idea not to cut the new sod and seed too short next spring. A good height would be 3 to 4 inches. Now that the sod repairs have been made, we would like all remaining work on the project to be finished in the next month. If you have any unresolved issues concerning the reconstruct project we would like you to bring then to our attention now. Please direct your concerns to Carol Caron at 439-3902. Thank you for your patience and cooperation! Tree City U.S.A. • • Enclosure Al CITY OF OAK PARK HEIGHTS 7'r A MINNESOTA STAR CITY October 12, 1995 To : Property Owners in the Oak Park Heights Street Reconstruction Project Area Re : Assessment Notices for the Street Reconstruction Project I have enclosed an official notice of assessment for the street reconstruction project . The Assessment Hearing will be Monday, October 30, 1995 at 7 : 00 p .m. at Oak Park Heights City Hall . The Assessment Hearing will be strictly for the discussion of assessments . The Street Reconstruction Project is considered finished at this point . If you have any problems that were not resolved, please call Carol Caron at 439-3902 , leave a message and she will call you to let you know how the problem will be resolved. Sincerely, Michael R••ertson City Administrator 14168 North 57th Street • Box 2007 • Oak Park Heights, Minnesota 55082-2007 Phone: 612-439-4439 • Fax: 612-439-0574 ' cite/9c- L)110,44-- e7LOAa EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF OAK PARK HEIGHTS, MINNESOTA HELD: May 8, 1995 Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the City of Oak Park Heights, Washington County, Minnesota, was duly held at the City Hall in said City on the 8th day of May, 1995, beginning at o'clock _.M. for the purpose in part of providing for the sale of the $1, 130,000 General Obligation Improvement Bonds of 1995 of said City. The following Councilmembers were present: and the following were absent: Councilmember introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR THE SALE OF $1, 130, 000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1995 A. WHEREAS, the City Council of the City of Oak Park Heights, Minnesota (the "City") , has heretofore determined that it is necessary and expedient to issue the City's $1, 130,000 General Obligation Improvement Bonds of 1995 (the "Bonds") , to finance the construction of various improvements in the City; and B. WHEREAS, the City has retained Juran & Moody, Inc. , in St. Paul, Minnesota ("Juran") , as its independent financial advisor for the Bonds and is therefore authorized to sell the Bonds by a private negotiation in accordance with P ne q Minnesota : sots St atutes Section 475 .60, Subdivision 2 (9) . 290547.1 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Oak Park Heights, Minnesota, as follows: 1. Authorization; Findings. The Council hereby authorizes Juran to solicit bids for the sale of the Bonds. 2. Meeting; Bid Opening. The Council shall meet at the time and place specified in the Official Terms of Bond Sale 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 such Official Terms of Bond Sale. 3. Official Terms of Bond Sale. The terms and conditions of the Bonds and the negotiation thereof are fully set forth in the "Official Terms of Bond Sale" attached hereto as Exhibit A and hereby approved and made a part hereof. 4. Official Statement. In connection with said sale, the officers or employees of the City are hereby authorized to cooperate with Juran and participate in the preparation of an official statement for the Bonds and to execute and deliver it on behalf of the City upon its completion. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and, after full discussion thereof and upon a vote being taken thereon, the following Councilmembers voted in favor thereof: and the following voted against the same: Whereupon said resolution was declared duly passed and adopted. 290547.1 2 • STATE OF MINNESOTA COUNTY OF WASHINGTON CITY OF OAK PARK HEIGHTS I, the undersigned, being the duly qualified and acting City Administrator of the City of Oak Park Heights, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council of said City, duly called and held on the date therein indicated, insofar as such minutes relate to the City's $1, 130, 000 General Obligation Improvement Bonds of 1995. WITNESS my hand as such City Administrator this 8th day of May, 1995. City Administrator 290547.1 3 e L 5A 1 1 . CITY OF • OAK PARK HEIGHTS .-. . „.. _ , -,,,,. -. .. -.,.,.._ ... :, Y 1,. ,,,,..„..,„„ ....,,,....,,,.4,m. A MINNESOTA STAR CITY January 12 , 1995 Dear Oak Park Heights Property Owner: 9 A public hearing has been scheduled by the Oak Park Heights City Council for 7 : 30 P .M. Monday, January 23 , 1995 at City Hall, 14168 N. 57th Street . The purpose of the hearing is to discuss proposed street improvements in the area shown below. The proposed improvements are similar to those discussed at previous meetings on February 14 , 1994 and October 20 , 1993 . Due to the nature of the improvements, it is proposed to assess a portion of the project cost to the abutting residential property owners on a lot eauival-ent basis . Your property is included in the project and is proposed to be assessed. The estimated assessment" per residential lot is 2 641%u ; . Commercial, industrial, and high density property is proposed to be assessed on a front foot basis, estimated at $31 . 85/front foot . Approximately .f the project cost is proposed to be assessed to property oWers' We encourage your attendance . Sincerely, CITY OF OAK PARK HEIGHTS 0;7i/`1/ 7 -7- ‘//...---z--c---- Michael Robertson City Administrator 14168 North 57th Street • Box 2007 • Oak Park Heights, Minnesota 55082-2007 Phone: 612-439-4439 • Fax: 612-439-0574 ENCLOSURE 6 1F—T Northwest Associated Consultants , Inc . C j U R B A N P L A N N I N G • D E S I G N • M A R K E T R E S E A R C H MEMORANDUM 4\'r. A x 1 `' (014'Sc( - ''''' TO: Oak Park Heights City Council FROM: Dan Wilson DATE: 23 March 1995 RE: Oak Park Heights - Modification No. 1 to St. Croix Mall TIP FILE NO: 798.02 - 95.01 Attached is a draft TIF Plan Modification that will permit the City to use tax increments generated by the St. Croix Mall to pay for storm sewer extension and utility system repairs. ,v4 Zcc ecember 22 ath and Company report calculated these expenses at cc $736,200 that were not to be assessed. The original TIP.Plan had already provided for 4: •,,,T, wort • . • . . ' • •• 1 cos 4 ' ! Tite original plan did not describe the project area to include the area south of 57th street No 1 Therefore* the modification will permit the use of TIP funds Q1256th treet No., 55th Street Ni — 7 Otnat'Avenue, Obrrn Avenue No. and Omaha Avenue No. 01 (o-Iii s�tzsv,L The approval process is as follows: V4I 0 I ) C* 1. City Council holds public hearing. 2. City Council adjourns. 3. HRA meeting called to order (your staff posted the required 3 day notice for an HRA meeting). 4. HRA considers resolution approving Modification No. 1. 5. HRA adjourns. 6. City Council reconvenes. 7. City Council considers resolution. We will prepare the final draft subject to any changes the Council would like to make. 5775 Wayzata Blvd. • Suite 555 • St. Louis Park, MN 55416 • (612) 595-9636•Fax. 595-9837 05/05.95 09:51 $612 426 5004 TAUTGES. REDPATH Q002/005 1 Enclosure 10B trite 5..,-....:-.- TAUTGES, REDPATH & CO., LTD. C PTIF' 0 PUBLIC ACC:,_IN TAN r S May 4, 1995 Honorable Mayor and City Council City of Oak Park Heights 14168 North 57th Street Stillwater, MN 55082 1 RE: STREET RECONSTRUCTION FINANCING Pursuant to your request, I have updated the street reconstruction financing plan as it relates to Area A (south of Highway 36 and west of Osgood Avenue). This update incorporates the estimated construction costs based on the bid opening of April 28, 1995. estima Pr ted oiect Costs The project costs for Area A are estimated to be a follows: Storm Street Sewer Utility Reconstruction ' Extensions Repairs Total Contractor 57 18 S 185,483 S12,080 Contingency @ 5% 39,885 9,274 604 .'I63 Subtotal 837,603 194,757 12,684 1.045.044 Engineer,legal,administrative @ 25% 2 400 48,690 3,170 261.260 Total SI,047 i 00 ' $243,447 $15.854 51.306.304 Proposed Financing The City engineer recommended the costs associated with storm sewer extensions and utility repairs not be assessed. Additionally, the City council has previously decided against increasing tax levies to finance storm sewer extensions and utility repairs. Therefore, the costs related to storm sewer extensions and utility repairs must be financed with existing reserves_ 4810 White Bear Parkway • White Bear Lake, Minnesota 55110 • 612/426-7000 • FAX/426-5004 • Member of HLB International 05/05/95 09:52 T2612 426 5004 TAUTGES. REDPATH Q004/005 Honorable Mayor and City Council Street Reconstruction Financing May 4, 1995 Page 3 -,r ALP-�ia The City engineer recommends assessments totalin: $638,331 or street improvements and '�„` concrete curb/gutter. Based on this, the approximate assessment to residential property is(1,-87C5) per lot, umung an interest late yearassessment period, the annual assessment would be ws: �;a4-(Z- 1 all 754 Year Principal Interest . Total 0% 5f,,e $ O 1 5265 5212 5377 2 265 190 455 3 265 170 435 4 265 ' 148 413 T� " 5 265 126 391 v0 6 265 106 371 L > - n 7 265 84 349 ,� p3�U�'' 8 265 63 328 00'9 260 42 307 — ►n'i0 /Lt' 10 260 2l 281 =1Z . Total �1 53.807 a _ #.3 ler The remaining portion of the debt service is proposed to be repaid by property taxes. A schedule of existing and proposed bonded debt tax levies is as follows: 1995 'A Existing Improvement U&, Year Levies Bonds(1) Total - I`J 1995 525,000 S - 525.000 v_ 1996 25.000 - 25,000 "c;1 1997 25,000 - 25.000 ,}' 1998 25,000 67,000 92,000 1999 25,000 68.000 93,000 2000 25,000 69,000 94,000 2001 • 70.000 70.000 2002 - 71,000 71.000 2003 - 72,000 72.000 2004 - 73.000 73.000 , 2005 - 74.000 74.000 Total 5150.000 5564,000 S714,000 (1)See schedule prepared by Juran and Moody.Inc. A V INC JURAN & MOODY, INC. INVESTMENT SECURITIES SINCE 1939 SAINT PAUL,MN 55101.2091 MINNEAPOLIS,MN 55402.3300 HOUSTON,TX 77027-9008 CLEARWATER,FL 34619.1035 Minnesota Mutual Life Center 130 International Centre 1177 West Loop South Two Prse Place 400 North Robert Street,Suite 800 900 Second Avenue South Suite 1850 2650 McCormick Wye,Suite 150 (612)224-1500 (612)339-8100 (713)961-1882 (813)7914897 (800)950-4666 (800)950-4666 (800)950-5444 (800)950-2055 Fax: (612)22401524 Fax: (612)339-2019 Fax: (713)961-0962 Fax: (813)725-9973 TABULATION OF BIDS CITY OF OAK PARK HEIGHTS,MINNESOTA $1,130,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1995 AWARD. DOUGHERTY,DAWKINS,STRAND&BIGELOW DATE OF SALE: MONDAY,JUNE 12,1995 MOODY'S RATING: A BIDDER INTEREST RATE NET INTEREST COST (RATE) DOUGHERTY,DAWKINS,STRAND 4.05% - 1996 &BIGELOW 4.15% - 1997 4.25% - 1998 4.40% - 1999 4.50% - 2000 4.55% - 2001 4.65% - 2002 4.75% - 2003 5.00% - 2004/05 PURCHASE PRICE: $1,124,350.00 $332,636.25,x,.. NORWEST INVESTMENT SERVICES,INC. 3.90% - 1996 4.10% - 1997 4.25% - 1998 4.40% - 1999 4.50% -2000 4.60% - 2001 4.70% -2002 4.80% -2003 4.90% - 2004 5.00% - 2005 PURCHASE PRICE: $1,120,960.00 $335,949.58 (4.819%) FIRSTAR BANK MILWAUKEE,N.A. 4.000% - 1996 OPPENHEIMER&CO..INC.)CO-MANAGER 4.250% - 1997 4.350% - 1998 4.450% - 1999 4.550% - 2000 4.625% - 2001/02 4.750% - 2003 4.875% - 2004 5.000% - 2005 PURCHASE PRICE: $1,120,918.60 $336,192.23 (4.8228%) h I 4 1 Summary of Costs The following table summarizes the estimated costs of the proposed projects. Summary of Estimated Costs Construction Construction Total Cost Total Cost Cost Total Cost per foot per foot Street Reconstruction $1,441,400.00 $62.00 $1,981,940.00 $85.00 Storm Sewer $216,580.00 $9.00 $270,730.00 $12.00 Total $1,657,980.00 $71.00 $2,252,670.00 $97.00 Note: The total cost of the project does not include the cost for televising the sanitary sewer or testing the water main for leaks. These tests are necessary to determine if any major repairs are needed. Summary of Financing Implications (Assessments and City Costs) The following summarizes the financing implications that will result from implementing these projects. Total Project Cost $2,252,670 Residential Assessment Revenue $725,000 OPH Commercial Assessment Revenue $67,580 Stillwater Revenue $216,840 County Turnback Reimbursement ? General Fund $1,243,250 The following streets within Area D are bordered by properties within the Stillwater city limits: - Panama Avenue -Paris Avenue south of Beach Road. - Osman Avenue -65th Street North - Ozark Avenue North - 64th Street North -Part of Oxboro Avenue -Alley(Oxboro to Panama) The condition of these streets are such that they require reconstruction. Since Oak Park Heights residents do live on one side of the road it would be appropriate for the city to attempt to arrange the reconstruction of the street and ask the City of Stillwater to fund their half of the roadway either Oak Park Heights 1998 Street Reconstruction Project 4 reclamation process, which would grind up the existing bituminous and mix it with some of the sandy clay to create an aggregate material that would provide a solid base for the road. The condition of the existing pavements in Area D and Area E were last rated in 1987. For this report, the computer program Paver, was used to help predict the ranking of the roads in 1998. These predicted rankings are shown in Appendix C and on Figure 3 and Figure 4. The pavement condition indexes dropped from an average of 75 in 1987 to an average of 58 in 1998. The table below presents general categories to define PCI Rankings. Maintenance Recommended Pavement Condition Index Seal Coat 50-100 Overlay 30-60 Reconstruct 0-40 In general, PCI rankings below 35 require removal of the existing bituminous pavement before constructing a new bituminous surface. The existing aggregate base may also have to be reconstructed. PCI rankings between 35 and 55 require bituminous surface removal or major patching before constructing a bituminous overlay. PCI rankings over 55 typically do not require bituminous overlays and generally routine maintenance such as patching, crack sealing, and seal coats are cost effective. The deflection testing of the two areas was completed in the summer of 1997. The results of this test show that the majority of the streets have an adequate subgrade. The testing identified Paris, Peabody and Ozark as streets that may need subgrade correction. Therefore, quantities and costs for some subgrade correction have been included in this report. In addition, the results showed that 65th, 64th,Upper 63`d, 62nd, Paul,Peabody,Paris, Ozark,Penrose and Perkins would experience cracking of the bituminous surface. The average PCI ranks the streets on the border of the "Overlay"/"Seal Coat" category. The deflection tests showed that a majority of the streets would crack under repetitive use and several streets actually require subrgrade correction. The test holes showed that the streets are in need of a solid base. These results, coupled with the fact that new concrete curb and gutter is proposed, make it feasible to recommend the total removal of the existing bituminous. Some streets will require removal of the existing aggregate base and subgrade improvements as well. Oak Park Heights 1998 Street Reconstruction Project 7 • Area E Length Existing Proposed Street Name (Feet) Street Width Street Width (Feet) (Feet) Peller Avenue North (56th to 59th) 1350 24 28' Penrose Avenue North (56th to 596) 1350 22.5 28' Penfield Avenue 560 18' 18'* 56th Street North (Penrose to Peller) 370 24' 28' Upper 56th Street North 220 24' 28' 57th Street North (Peller to Penfield) 830 24' 28' 58th Street North (Stagecoach to Peller) 990 23' 28' Perkins Avenue North (56`h to 57th) 650 18' 18'* 57th (west of Perkins) 330 20.5' 24' Total 6650 ( 1.3 miles) _ *Due to the location of existing buildings, the maximum allowable street width is 18 feet. Oak Park Heights 1998 Street Reconstruction Project 9 Feasibility econstruction Project is feasible. The following table summarizes the estimated costs The 1998 R of the proposed projects. 1 Summary of Estimated Costs ost Cost Total C Construction Construction Total Cos per fot Cost Total Cost per foot Street Reconstruction $1,441,400.00 $62.00 $1,981,940.00 $85.00 Storm Sewer $216,580.00 $9.00 $270,730.00 $12.00 Total $1,657,980.00 $71.00 $2,252,670.00 $97.00 The costs for the 1998 Reconstruction Project are slightly higher than the costs stated previously in l in the 1993 Comprehensive Plan for Areas D and E. The difference in cost is displayed table below. 1993 Comprehensive 1998 Reconstruction Mill MEI Street Plan Feasibility Report $1,798,000 $1,383,630 Streets - as shown in 1993 Plan -0- $598,310 Additional Streets -0- $270,730 Storm Sewer $1,798,000 $2,252,670 Total Project Cost The increase in the project cost from the 1993 Comprehensive Street Plan is due to the addition of the following: • This project proposes reconstructing additional streets D. There due approximately the fact that P 4,470 feet more than in the 1993 report at the cost of$386,480. streets bordered on one side by the city of Stillwater were not included with the previous report. • Storm sewer- the 1993 Comprehensive Street Plan did not inclual s storm The total and of stated that these numbers would be evaluated with each individual P ro storm sewer is $270,730. 10 Oak Park Heights 1998 Street Reconstruction Project • p E. )_ \\1-11 tii ��Z 4' 111111119 ";:., ST CROIX STREET \ doik b • oa•u 4 i b , N i A 9 N V H w z c = it ‹ U II 111.1111111111111 ok mQIlD tMecNQ 76 ,1 sills 1 9_, 7 01111111111111 iii 0 z 1 ...• $..sk ... 1 w Z Y AO = s-1 ...m 0 -D v 06, c6 Z s 4 w_( A VA \:',. 1 z 0 300 � MOM 111111•1116111MII g 13 14 ` i s Scale in feet o 0 o 0 O O y 62ND STREET NORTH - 111111111;) / "iiiiiiii / \ \\ 1 Z 1!lIIIII '/ ''�� I w iimarormi UPPER 6iST ST N mu MIN MOE I •z �aII'X��-9E3 � 'iasizam ,A ,i =ominous I , OAK PARK HEIGHTS STRIET ,i1:;NORTH '� MIS i, 61 GARDEN cr 1 O w Z F =III II -.1.1 IIIIIIM i ► • 60TH S' -, 11.43131M.u1:J. wegrueermeigs.imam MS titr. COL 0411111110 UK III ii =III i PAVEMENT CONDITION INDEX - ARE n Bonestroo Rosene viiOAK PARK HEIGHTS, MINNESOTA IGURE 3 Associ k s Associates 1997 STREET PROGRAM K:\55\55134\55134F11 OCTOBER 1997 COMM. f. J O -0 i co J C w U) > m �TJ Ph i T Z rn M C) r X _ Z oo V/ o \ 1 r4 7JJ d O FIF 7H$11(ELI ' M PI Z Z Z = M — (../) Z o 0 m I I > X I FNURTH STREET OURIH TREET 0 14 4.. 10 1111„, rr, .D �, s 4„ i.„‘ ,...i > . .. ,b ,, a P �.in — ._f . • L 4: ”' 44+ AVENUE N PEELER ya e `zo ^v s:•,,.. ,`�. Y;Y,. �• ,Kh t,�^,k,. ,•N,,^C� titinZ�<•il: 1111 -0:i 1 I V i,,!,:',.:::i (0 igh :,., .... Ul iawuiu Z ... r . � y q i l I I s ti A� �C JR {C - ` < 4 "y\„ , , ,V3..,, tb e4,i,,,.,,, 11111411111!ik 01+w., r ? -1 s 3 4> `, .;'tia.:ww�+ ._. t 'te r: t C r.w � .,„ rit..., „ II I a:, r^ Hl' pri IlFIRST $IREET • N I Wa"k.. '+.rto.,, ?'S^tay, -`,''4,'i ,�: rill '4. fliorri\l' ii. VIII 1 Ini I O CITY pr BAYFgQ�V t ro oN-oil hl y' 1NN i -----\N\ .rte WI Q,ys M a� e,,, 2 16,) e I M Y E, �ydys I to D $ Ill 03 13 C ” I 3nN3rd y13�'`a I I ��ys I M , ,-/i/4 4.0'. 0.6,pi a y a ,94 �y a t i^a d I I "4 j Z�'y I l I dys�:5..'*.....b C m M Ii rr i1 • I / gat DD0O0J CO a co 0 d n N = w pi � -' 0 00o A 0 the report. The work is intended to be completed in the Summer of 2000. Summary of Costs The following table summarizes the estimated costs of the proposed project. In Area D, Area E and a small portion of Area B concrete curb and gutter is proposed. The majority of Area B has existing concrete curb and gutter (Figure 4) and therefore, it is recommended that the curb in this area be removed and replace only where necessary. The cost for the street reconstruction has been divided into two categories, "Areas of Proposed Concrete Curb and Gutter"and"Areas of Existing Concrete Curb and Gutter". Sununary of Estimated Costs Areas of Proposed Concrete Curb and Gutter Construction Construction Total Cost Total Cost Cost Total Cost per foot per foot Street Reconstruction $1,737,600.00 $73.00 $2,172,100.00 $91.00 Storm Sewer $223,100.00 $9.00 $278,900.00 $12.00 Total $1,960,700.00 $82.00 $2,451,000.00 $103.00 Summary of Estimated Costs Area of Existing Concrete Curb and Gutter Construction Construction Total Cost Total Cost Cost Total Cost per foot per foot Street Reconstruction $137,400.00 $50.00 $171,800.00 $62.00 Storm Sewer NA NA NA NA Total $137,400.00 $50.00 $171,800.00 $62.00 Oak Park Heights 1999 Street Reconstruction Project 4 Summary of Total Cost Construction Total Cost Cost Total Street Reconstruction- Areas of Proposed $1,737,600.00 $2,172,100.00 Concrete Curb and Gutter Street Reconstruction- Areas of Existing $137,400.00 $171,800.00 Concrete Curb and Gutter Storm Sewer $223,100.00 $278,900.00 Total $2,098,100.00 $2,622,800.00 Note: The total cost of the project does not include the cost for televising the sanitary sewer or testing the water main for leaks. These tests are necessary to determine if any major repairs are needed. Summary of Financing Implications (Assessments and City Costs) The following summarizes the financing implications that will result from implementing these projects. Revenue Total Project Cost $2,622,800 t{p-er° Residential Assessment Revenue (261 units) $1,030,950 2 f / f 4 3,£) 9 C� Proposed Concrete Curb and Gutter /(4) ,i i Residential Assessment Revenue (60 units) $85,800 Existing Concrete Curb and Gutter OPH Commercial Assessment Revenue $108,680 Stillwater Revenue $230,230 County Turnback Reimbursement General Fund $1,167,140 The following streets within Area D are bordered by properties within the Stillwater city limits: -Panama Avenue -Paris Avenue south of Beach Road. - Osman Avenue - 65th Street North - Ozark Avenue North 64th Street North -Part of Oxboro Avenue -Alley(Oxboro to Panama) Oak Park Heights 1999 Street Reconstruction Project 5 The condition of the existing pavements in Area D,Area E and Area B were last rated in 1987. For the 1998 street reconstruction report, the computer program, Paver, was used to help predict the ranking of the roads. These predicted rankings are shown in Appendix C and on Figure 5, Figure 6 and Figure 7. For Area D and Area E the average pavement condition index (PCI) for the predicted 1998 value was 58 and for Area B the average was 47. The general life cycle of a street is shown in Figure 8. This figure shows that by the year 2000 the average PCI for the streets in Area D/Area E and Area B will be 24 and 18, respectively. The table below presents general categories to define PCI Rankings. Maintenance Recommended Pavement Condition Index Seal Coat 50-100 Overlay 30-60 Reconstruct 0-40 In general, PCI rankings below 35 require removal of the existing bituminous pavement before constructing a new bituminous surface. The existing aggregate base may also have to be reconstructed. CI rankings between 35 and 55 require bituminous surface removal or major patching before constructing a bituminous overlay. PCI rankings over 55 typically do not require bituminous overlays and generally routine maintenance such as patching, crack sealing, and seal coats are cost effective. The deflection testing of Area D and Area E was completed in the summer of 1997. The results of this test show that the majority of the streets have an adequate subgrade. The testing identified Paris, Peabody and Ozark as streets that may need subgrade correction. Therefore,quantities and costs for some subgrade correction have been included in this report. In addition, the results showed that 65th, 64th,Upper 63rd, 62nd, Paul,Peabody,Paris, Ozark, Penrose and Perkins would experience cracking of the bituminous surface. From Figure 8, the predicted average PCI ranks the streets in the "Reconstruct" category. The deflection tests showed that a majority of the streets would crack under repetitive use and several streets actually require subrgrade correction. The test holes showed that the streets are in need of a solid base. These results make it feasible to recommend the total removal of the existing bituminous. Some streets will require removal of the existing aggregate base and subgrade improvements as well. In Area D, Area E and a small portion of Area B concrete curb and gutter Oak Park Heights 1999 Street Reconstruction Project 8 Area E Length Existing Proposed Street Name (Feet) Street Width Street Width (Feet) (Feet) Peller Avenue North (56th to 59th) 1350 24 28 Penrose Avenue North (56th to 59th) 1350 22.5 28 Penfield Avenue 560 18 18* 56th Street North (Penrose to Peller) 370 24 28 Upper 56th Street North 220 24 28 57th Street North (Peller to Penfield) 830 24 28 58th Street North (Stagecoach to Peller) 990 23 28 Perkins Avenue North (56th to 57th) 650 18 18* 57th (west of Perkins) 330 20.5 24 Total 6650 ( 1.3 miles) *iiiirreo,444c.ation of existing buildings, the maximum allowable street width is 18 feet. Area B Length Existing Proposed Street Name (Feet) Street Width Street Width (Feet) (Feet) Ozark 660 32 32 Upper 55th Street 550 32 32 56`h Steet 1150 32 32 56th Street Circle 400 32 32 Total 2760 (0.5 miles) Oak Park Heights 1999 Street Reconstruction Project 10 Feasibility The 1998 Reconstruction Project is feasible. The following table summarizes the estimated costs of the proposed projects. The cost for the street reconstruction has been divided into two categories, "Areas of Proposed Concrete Curb and Gutter" and "Areas of Existing Concrete Curb and Gutter". Summary of Estimated Costs Areas of Proposed Concrete Curb and Gutter Construction Construction Total Cost Total Cost Cost Total Cost per foot per foot Street Reconstruction $1,737,600.00 $73.00 $2,172,100.00 $91.00 Storm Sewer $223,100.00 $9.00 $278,900.00 $12.00 Total $1,960,700.00 $82.00 $2,451,000.00 $103.00 Summary of Estimated Costs Area of Existing Concrete Curb and Gutter Construction Construction Total Cost Total Cost Cost Total Cost per foot per foot Street Reconstruction $137,400.00 $50.00 $171,800.00 $62.00 Storm Sewer NA NA NA NA Total $137,400.00 $50.00 $171,800.00 $62.00 Summary of Total Cost Construction Total Cost Cost Total Street Reconstruction- Areas of Proposed Concrete Curb and Gutter $1,737,600.00 $2,172,100.00 Street Reconstruction- Areas of Existing Concrete Curb and Gutter $137,400.00 $171,800.00 Storm Sewer $223,100.00 $278,900.00 Total $2,098,100.00 $2,622,800.00 Oak Park Heights 1999 Street Reconstruction Project 11 Assessments / Revenue The assessment policy as established by the city council for the 1995 Reconstruction Project was based on the following: je• Each residential property will be assessed the same amount • This amount is based on the amount to be paid by the average size lot on this project • Commercial properties will be assessed on a front footage basis A new policy that is presented in this report is that the city of Stillwater should pay for half of the cost of the streets that abut properties that lie within Stillwater city limits. The assessment amounts are as follows: \ Residential Property in Oak Park Heights $3,950/each Proposed Concrete Curb and Gutter Residential Property in Oak Park Heights $1,430/each Existing Concrete Curb and Gutter Commercial Property in Oak Park Heights $56.00/front foot Stillwater Properties $51.50/front foot The figures above were calculated using the following rate schedule, which was established in the 1993 Comprehensive Street Plan. Assessments Rate Classifications Residential Curb (75% of total Curb Cost) Commerical/Industrial Curb (75% of total Curb Cost) Residential Street(50% of total Street Costs) Commercial/Industrial Street (50% of total Street Costs) Oak Park Heights 1999 Street Reconstruction Project 15 Project Schedule Q Receive Feasibility Report/Schedule February 1999 Neighborhood Meetings Meeting with the City of Stillwater March 1999 Meeting with the County March 1999 V Neighborhood Meeting ?April 1999 Public Hearing/Order Plans t / May 1999 and Specifications Approve Plans and Specifications September 1999 Open Bids October 1999 Award project November 1999 Construction Begins ,#sr2000 Substantial Construction Completed September 2000 Final Project Completion October 2000 Assessment Hearing i 1 October 2000 r,-/ A,a, ifici Oak Park Heights 1999 Street Reconstruction Project 18 0) OI T CO CD 115 CC T CO T r T 0 1- 0) V V) 0 0) !r NOC) CO "" fie! r �C,CO r N Co LO o NNL1) ChNNO1 V N Of T r Ef! 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U) a d d u� L[ Lo i I-- Appendix B Area D-Testing Results Street Name Soil Boring PCI Test Hole 1998 Predicated Value Upper 615` At county rd. 51 Street 5.5"Bituminous 59 North 7.5"Base 85 Fill,mostly silty sand with little gravel 62nd Street North 70 2"Oil &Rock 78 18"-20"sandy clay Below heavier clay 63`d Street North 59 74 Upper 63th Street North 2"ppe 2.5 B�tuminious 52 2 Oil &Rock 9.5 base 70 Sandy Clay some small Fill to 5.0' mostly silty Rock sand 20"Sandy clay Below more clay 64th Street North 55 2"Oil&Rock 77 18"Sandy Rocky Clay Bigger Rock more Clay Pecan Avenue North 68 4-5"Oil &Rock 70 12"Sandy Clay Below Heavier Clay Peabody Avenue North 84 Paris Avenue North/ Range from 5.5"—7" 16 Beach Road Bituminous Pavement Range from 7.5"- 18.5" Base Fill mostly silty sand Paul Avenue North 42 51 Appendix B Area D- Testing Results Street Name Soil Boring PCI Test Hole 1998 Predicated Value Panama Avenue North 38 3"Ot'1 &Rock 18"Sandy Gravel Below 18"Rocky, some big Paris Avenue 39 (residential area) 53 Osman Avenue North 56 5"Oil&Rock 20"Sandy Clay Heavy Clay Some Big Rocks 65th Street North 67 2-3"Oil &Rock (Beach to Pecan) Sandy Clay Some Bigger Rock 64th Street North (Oxboro to Ozark) Ozark Avenue North 58 (64th to 65th) Oxboro Avenue North (62nd to Hwy 36) 5"Oil&Rock 20"Sandy Clay Heavy Clay Some Big Rock Alley (Oxboro to Panama) - Appendix B Area E- Testing Results Street Name Soil Boring PCI Test Hole 1998 Predicated Value Peller Avenue North 59 " 2-3 Mix (56th to 59th) 81 Rocky, Sandy Clay 63 Penrose Avenue North 56 2-3" (56th to 59th) 73 12"Sandy Clay 72 Heavier Clay More Rock Penfield Avenue 32 +r 56 56th Street North 56 3-3.5" (Penrose to Peller) Big Rocks 12"Sandy Clay Heavier Clay Upper 56th Street No. 55 57th Street North 55 (Peller to Penfield) 58 Street North 84 (Stagecoach to Peller) 54 71 Perkins Avenue North 23 4-5"(2 Lifts) (56th to 57th) 42 Big Rock Limestone 57th(west of Perkins) 87 f ( > > co < V o c I�l n 0 CD CII('/ -1 M m 7 T Z -0 G7 0 � 1 o Imo; , OSGOOD AVE. 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Ell (_,_), i. falter, �- z 1 °s 1 , „ , ,. .f:_ I II I '4. , \ \\ \-- >7- - , '-.., I ,1 ———- r i \\ .\- .._ ___ ____ , ....- <\ , < <-\\\ irf -1,--," -_--771, 1 k ),,r VX'i Xj7 ' \\\\.\\\\\\, \\ / I I 71 I ,,,,,,::,,,,, --Y:'■'''''..'",.. num ,..„, ,, , -\ ( ) , \ ..... , ------- , __h_- ___________ __ \ \c__,I__ \ \, ,</, ,,,,.„,„, _____ 1 /- , , ------ / ' m + \\ - 0 -: _ , -_ U1 -I a) C 1 • 1 I *too ``Vz at DDXco w z O O 03 eL co c> o O ca P 0 O -0 v) o C° D D o U, c0 ` < m u) D 3' Z — -- M r O rn 0 -O G) Q ` //op —I / rl \\\\ 1 D K Q // \ � __JL__--) �� / _ D m �%'� P ABODY AVE. N, I �d�� ,g 7 oo ,-0 ' AHE (_, 0 y, , z'> D- K > // I _ '1 :13 11111 CT D PELLER AVE, N liii-P '(ji in CD cf)l 1 vilcc)(-31 . :571(j) ii —: c:1)1 1 EN ROSE AV�E , vz______________ argil :-;.: __,(f) P-'--6 �jtArt • „J.. :i .Z . ':'- 1111k _ _._ _ MI 0,., .-, gr, -vp i I, _____ 01 ,., I ili I ----- 1 It 1 7 :- " II or =J . ( I .,77,-- M ' E-iiiiir, -14-1 , ,c)b II l l rn D '' 1 4 co , 1 CO I 1 1 r Il c CO rn I g c g 7:1 m o di rn (1) w o -.1.2 0 =t DD31CA w D O O CO a. Co O Co P O p -p c° M K 0 x7 Z D —I pi n 0 -v c) p 0 p- =i z -- - - - _..- - - - - - _ - -� 1 1 I - 01 0 (I) — ' I �i 1 I I I K u OMANA AVE. N I ' I Z z j1 _ --.I rn I;1 I III D X 1r^ ;1 ; I _ r l V' I I 111111 1 ri I I _ ,n 11 1 1 (D V, - I. I CO CD XT !!nn ! ■ _ Vl II I Ole 1 h y z O 1 IIII 1111111 1 I (�T Wm I I 1 .1 1 ' 1 I I I III r , 1 ; 11 CO 0 WM O II I ■ I I , 1 I I I I 1 OSMAN AVE. N I--, i 1�,; __ •o. Rd. 67 __ \ \ A A /// Wisillia --1 - ''allipP-411111r' ell! 4M \.....____\ I ll[I] AI; 1I UI t Vil D'i 1-0 El: : • 0 o , ., I 1 . id Kt I 111 III I I 111 I I,-.1.1.law a s,.: 5 i M lal , , IN 01 Z I 1 I I D CI" ljiI C�7 /lull I ;I1 z 1 // ///// / I (0 - I / ///// 1 ; I�' co i ' I � / lllll f ,,,Sw1r3 `,,,,,, ;v` .S+ :,. `'., 1 1 a 1 1111 I 11 I , I c ��S A R K �� i I I �� ,/„//„ , �.:I# L 11 _ 4 1 11 // _4 1 V d // 1 I 1 - o o (( I1i m I � l 11 11 1i 11 + , I 1 1\ • I 1 m o 11 I ' I 1 11 , 11 -1-1 ` • X11 ', C 1 111 C I I 111 1\\\I 1\\\\ rn �J JL_ , `1\10\ , „ \`\ \\ Ir- \ \\ s \• 11 // 1—\\ `ia�� \ gat DD :D0:1 co al ' o o a co Qs 0 NUMBER VERBAL CONDITION RATING RATING GROUPING 100------ __ Excellent 90 Pavements that hove little or 80 no distress. .�\ Seal Coot Very Good ■\ (50-100) Z Pavements that hove \ o 70 a significant level \ 1998 F— of distress. \\ PCI OF 58 non—load related . \ Good Z 60 Pavements that have Q a significant level \ 1998 o of distress. \ PCI OF 47 E- 50 load related. 1 Z Overlay 1999 W Foir (30-80) I PCI OF 32 w 40 > Pavements that have \ \ PCI 1999 OF 28 1Z Poor major distress . 30 \\ 2000 \ PCI OF 24 Reconstruction 20 Very Poor Pavements thot have (0-40) \Ne.-- 2000 significant amounts PCI OF 18 of major distress. ■ 10 0 Failed 3 1I5 ( YEARS) 20 2 I0 I5 APPROXIMATE AVERAGE FOR AREA D & ARES E APPROXIMATE AVERAGE FOR AREA B STREET LIFE CYCLE pi Bonestroo Rosene di IN InOAK PARK HEIGHTS, MINNESOTA FIGURE 8 Associ t s Asociafes COMPREHENSIVE STREET PLAN K:\55\5599100/5599100F81 FEB. 1999 COMM. 5599100 • . ... Cl- /9 i /' = e_ 5 .J--..5- 7 /2 6-re e_ e krigoe -----6 ,c7. JP- / ___ - 0-, -".7 s z- - /7 3 3 1 /Pi") /mss ,J---Z -- 3 I 1 I i ff ___ ____ r___ 1 / ./7„7, (LO id /--v , 1- - ?‘'-`4 fi qA- 6 90 // S/ acs 1 D . S°5-- t 1 G qp� t t IRx 'i�P TJ s', i� .?5 Yh a.raJ-'E) ,A a } 1 4, Bonestroo,Rosene,Anderlik and Associates.Inc,is an Affirmative Action/Equal O pportunity Employer and Employee Owned Bonestroo KAIosene Principals:Otto G Bonest-oo PE •Marvin L.Sorvala PE • Glenn R.Cook,PE.• Robert G.Schunicht PE.• Jerry A Bourdon.PE. Anderlik & Senior Consultants:Robert W Rosene.PE • Joseph C.Anderlik.PE.• Associates Susan M.Eberlin,C.PA Richard E. Turner,PE.• Richard Foster •Da,.id`• Associate Principals:Howard A.Sanford FE• Keith A.Gorden.'E.•Robert R.P+efferle.PE.• Engineers& Architects Michael T R utma nE PE.• 7 dOK.Field.FE • Kenneth P Anderson.PEA Mark R.Rolf s.PE • Mark A.Hanson PE • David A.Bonestroo.M.B.A.• Sidney P Williamson,PE..L.S.•Agnes M.Ring,M.B.A. •Allan Rick Schmidt.PE. Offices:St.Paul Sr.Cloud.Rochester and W;;tmar MN•Milwaukee.WI Website:wwwbonestroo.corn April 14. 2000 Honorable Mayor and City Council Cite of Oak Park Heights 14168 Oak Park Boulevard Oak Park Heights, MN 55082 Re: 2000 Street Reconstruction— Village Area of Oak Park Heights BRA File No. 55-00-104 Dear Mayor and Council: Transmitted herewith is the feasibility report of the 2000 Street Reconstruction Project- Village Area. This report is an update to the Report on the 1999 Street Reconstruction Pro'e summary is reviewing only Area E from the 1999 report. ) ct. This The summary includes information regarding the design, updated costs and tentative a for the reconstruction of Area E. It is recommended that you refer to ssessmeet he Reconstruction Report for background on the project and conditions of the streets 1999 Street Respectfully Submitted, BONESTROO, ROSENE, ANDERLIK & ASSOCIATES, INC. • Karen S. Shimon, P.E. I hereby certify that this report was prepared by me or under my direct supervision and that I am a duly Registered Professional Engineer under the laws of the Stat- of Minnesota. ea,r.r• D-nnis M. Post er, P.E. Date:ADril 14 2000 Reg. No. 22011 2335 West Highway 36 • St. Paul, MN 55113 • 651-636-4600 • Fax: 651-636-1311 Table 1 Area E Length Existing Recommended Street Name (Feet) Street Width Street Width . (Feet) (Feet) Peller Avenue North (56th to 59m) 1350 24 28 Penrose Avenue North (56th to 59th) 1350 22.5 28 Penfield Avenue (57"' to end) 360 18 24* Penfield Avenue (Upper 56th to 57`T') 200 22 28 56th Street North (Penrose to Peller) 370 24 28 Upper 56`h Street North 220 24 28 57th Street North (Peller to Penfield) 830 24 28 58`h Street North (Stagecoach to Peller) 990 23 28 Perkins Avenue North (56th to 57th) 650 18 24* Total 6320 _ ( 1.2 miles) *Due to the narrow right of way on Perkins Avenue and Penfield Avenue it is recommended that these streets be widened to 24'. On each of these streets the following improvements will be made: Street Improvements • full depth recycling of the existing bituminous pavement (grinding it up to create aggregate base), • subgrade correction where necessary, • installation of concrete curb and gutter, • installation of concrete driveway aprons, • paving a 3" bituminous mixture surface, and • saw and seal bituminous wear course. Sewer Improvements • Storm sewer improvements. r,_ .i; ().tk I'(lr.i Assessments As directed by City staff. the assessments were determined by assessing 50% of the street construction costs. Attachment 3 shows the location of 80 potential assessable units. The units were determined by utilizingexisting average lot width of 75'. For example, if a eroperty was 1-50' wide, it was broken into 2 units of 7"' -ach. Table 5 shows the total assessments for each of the alternatives. Table 5 Assessments Alternative A B C D E Total Cost of $664,300 $1,051,300 $759,300 $914,300 $886,300 Project Street Construction $603,000 $990,000 $687,000 $842,000 $814,000 Cost Assessable Construction $301,500 $495,000 $34.3,500 ' $421,000 $407,000 Cost ; Residential Unit $3,800 $6,200 $4,300 $5,300 $5,100 Assessment Burden on City $362,8000 $556,300 $415,800 $493,300 $479,300 Recommendations Alternative A is the least expensive, but it is not practical to build a 24' wide street with curb and gutter. When a curb is in place a driver tends to drive 2-3' from the face of the • curb. This results in the driving lane feeling very narrow with an oncoming car. In addition, parking would not be recommended on a 24' wide street. Alternative C appears to be the most feasible for the area. The 28' wide street will provide a comfortable driving lane; and when compared to the other alternatives, it will minimize the impact to the neighborhood. 5 -'(!+Aj Cir,c'l Are:a or Ouk Puri; Tentative Project Schedule Receive Feasibility Report April 2000 Neighborhood Meetings May 2000 Public Hearing/Order Plans May 2000 And Specifications Approve Plans and Specifications July 2000 Open Bids July 2000 Award Project August 2000 Construction Begins August 2000 Substantial Construction Completed November 2000 Final Project Completion June 2001 Assessment Hearing June 2001 lJu..c':Ire';-)r()uk Pc,r■ Hc'i Kfttr • • AREA C Z Z W 2 2 Y N Z AREA D O G a O O Z w ° G G -��- E. 65th S: il v a� E. 64th ! ST. N ...t. n, y a s. � ��0,�`` < p E.� ': :::P.'� ST. N j� F o �� >, � MpR+�` STILLWATE' °'.- ST N'■ W' u CL� EAST'. 62nd ST N � o i U ti sj 2 .- - 61st ST N 7771 I. ti `\ 0 61st 61st _ -L- t UP \` ��J Li ST. CT _-I 6Gth Si. N '' , st ST.N'` \'. z z ,;=d 60th., ST.N.'. 1, Z Z LIP 99th'1 ST.N. • I. a I—I > i; - O i z r� 59th 59th � S N. Z a - c Vii—_ ST �_N,s r D 9 wi �.Zi 58th i�i58th® N.,1�'m cn 57th ST. N. Y G11--11 0I v m S' N. ® I I Z p' ° 56;- S7. N. : - L ;i C, \� r �F Oi_..E C �� ® N w z 1 57th N '3, \ �• _ JQQ r d �' PP C _ z dl; Y �S6th®® ?I n-P 1 --- _r .( a �i; z i' I I , nom s 7.:,th . `a 5th ST. N. �' o < W i. \�.�.��, o 0 k____________ ._,' N Z 2 fr--> w BAYPORT AREA A a lal AREA B G , th 0 4 0 8th`s�' oN� r AVE. ��Yy Q N. m d 7th `i • AREA h PLUMB ST ,' Air OAK PARK HEIGHTS PORT-_ ,� . - 1 5th AVE i\ • STREET AREAS AvlBonestroo Rosena Iiii OAK PARK HEIGHTS, MINNESOTA p COMPREHENSIVE STREET PLAN ATTACHMENT 1 Anderlik d Associates APPENDIX ALTERNATIVE C 2000 STREET RECONSTRUCTION - VILLAGE AREA PRELIMINARY ESTIMATE-28' WIDE, NO SIDEWALK 28' F-F Street Section (500' section) Item Unit Quantity Unit Price Cost Bituminuos Removal (24') SY 1200 $1.50 $1,800.00 Excavation (31' x 2') CY 1150 5.00 5,750.00 CL. 5 gravel (8") TN 760 7.25 5,510.00 Bituminous 3" TN 260 30.00 7,800.00 Conc. C & G B618 LF 1000 7.00 7,000.00 Restoration Sod/Top Soil SY 1200 3.00 3,600.00 Conc. Driveway SY 90 34.00 3,060.00 0.00 Const. Total $34,520.00 Const. Cost per foot $69.04 10% $37,972.00 $75.94 25% $47,465.00 Cost per foot $94.93 Additional Costs Item Unit Quantity Unit Price Cost Location* Remove Landscaping LS 1 500 500.00 Block R Place Retaining Wall SF 600 16.00 9600.00 Block B Place Retaining Wall SF 600 16.00 9600.00 Block D Place Retaining Wall SF 1200 16.00 19200.00 Block I Extend existing Wall SF 150 16.00 2400.00 Block B Tree Removal Each 3 200.00 600.00 Block A Tree Removal Each 5 200.00 1000.00 Block C Tree Removal Each 4 200.00 800.00 Block D Tree Removal Each 3 200.00 600.00 Block E Tree Removal Each 2 200.00 400.00 Block F Tree Removal Each 3 200.00 600.00 Block I Tree Removal Each 4 200.00 800.00 Block J Tree Removal Each 1 200.00 200.00 Block M Tree Removal Each 4 200.00 800.00 Block N Tree Removal Each 1 200.00 200.00 Block 0 Tree Removal Each 2 200.00 400.00 Block R Tree Removal Each 3 200.00 600.00 Block L Hedge Removal LF 100 3 5.00 500.00 Block J Hedge Removal LF 100 5.00 500.00 Block J Hedge Removal LF 225 5.00 1125.00 Block M trim Trees Each 1 500.00 500.00 Block K Replace Trees Each 32 250.00 8000.00 . Hydrant relocate Each 1 2000.00 2000.00 Hydrant relocate Each 1 2000.00 2000.00 Pathway construction LF 400 12.00 4800.00 Redo Storm Sewer EACH 10 0.00 0.00 Const. Total $67,725.00 10% $74,497.50 25% $93,121.88 'Block Locations are shown in Attachment 4 APPENDIX ALTERNATIVE C 2000 STREET RECONSTRUCTION- VILLAGE AREA PRELIMINARY ESTIMATE-24' PENFIELD& PERKINS 24'F-F Street Section (500'section) Item Bituminuos Removal (24') Unit Quantity Unit Price Cost SY 1200 $1.50 $1,800.00 Excavation Removal x 2') CY 1000 CL. 5 gravel(8') 5.00 5,000.00 Bituminous 3' TN 725 7.25 TN 220 5,256.25 Conc. C& G B618 30.00 6,600.00 Conc. C Restoration& S LF 1000 7.00 Sod/Top Soil SY 1200 7,000.00 Conc. Driveway 3.00 3,600.00 SY 90 34.00 3,060.00 Const. Total $32,316.25 Const. Cost per foot $64.63 10% $35,547.88 Cost per foot $71.10 25% $44,434.84 Cost per foot $88.87 ... c �- 19 i/ dtte,- s I ,)'.5- ,z/7 ,S--re e- / .kri�,oe,, \1(.111-'----- -3 ,,,. fV = (s/ ;-.4 Ls' -,-._ y7 2 3 — — — //13 / ,5 7 ._.5-- Por-'"-- 1) ( ,,,i g 3 1 s R ( 1:74tie, (46 u.) ,-- AA_ ?zei4) I 7 /0 90 = // ,s/ cs Pracv 0 _ . . . _,.. , _ _ ., _ i C C //f' d i / fo a 1 9 , ,r/., /,2 4\. 05/05/95 09:51 $612 426 5004 TAUTGES. REDPATH Q 002/005 ' Enclosure 1OB ••r r: TAUTGES, REDPATH & CO., LTD. CE?ri —c PUBLICACC�uVr4Nrs May 4, 1995 Honorable Mayor and City Council City of Oak Park Heights 14168 North 57th Street Stillwater, MN 55082 RE: STREET RECONSTRUCTION FINANCING Pursuant to your request, I have updated the street reconstruction financing plan as it relates to Area A (south of Highway 36 and west of Osgood Avenue). This update incorporates the estimated construction costs based on the bid opening of April 28, 1995. Ectimated Project Costs The project costs for Area A are estimated to be as follows: Storm CStreet Sewer Utility Reconstruction ! Extensions Repairs Total Contractor 57 , 18 5185,483 512,080 5995 Contingency @ 5% 39,885 9,274 604 49.763 Subtotal 837,603 194,757 12,684 1,045.044 Engineer,legal,administrative @ 25% 2 400 48,690 3,170 261.260 Total 51,047,00' 5243,447 515,854 51.306.304 Provos cl Fin n in The City engineer recommended the costs associated with storm sewer extensions and utility repairs not be assessed. Additionally, the City council has previously decided against increasing tax levies to finance storm sewer extensions and utility repairs. Therefore, the costs related to storm sewer extensions and utility repairs must be financed with existing reserves. dR1n ■Alhito Poar P,.kw.vav • WI.. ' P.-, - . A17IC7R_7nnn • envf,v7 .=nee. • Iy:PT Pr of HI q tnlornational 05/05/95 09:51 $612 426 5004 TAUTGES. REDPATH Q003/005 Honorable Mayor and City Council Street Reconstruction Financing May 4, 1995 Page 2 The City engineer also recommended that only abortion of the street reconstruction co.sts be assessed. The remaining portion of the street construction w'iWbe financed by tax levies. Accordingly,a summary of the proposed financing is as follows: Storm Street Sewer Utility Funding Source Reconstruction Extensions Repairs Total Assessments $638331 S - S - $638,331 Tax levy 408,672 - - 408,672 Renewal,'Replacernent Fund - - 15,854 15,854 Closed Bond Fund - 41,847 - 41,847 City TIF - 145,800 - 145,800 -Lost"TIF f/y.C.p. - - 55,800 - 55.800 Total $1,047,003 $243,447 $15,854 S1,306,304 As shown above, the costs relating to storm sewer extensions and utility repairs are proposed to be financed by existing reserve balances. An explanation of the existing reserve balances is as follows: Renewal/Replacement Fund-The City has an unappropriated reserve balance of approximately $615,000 in this fund. This fund was established to partially finance repair/replacement of existing utility system5. jty TIF- The City has one Tax Increment Financing (TIF) District - the St. Croix Mall. The City has appropriated 60% of the annual TIP revenues to the property owners. J'he remaining 40% "City TIF" has been partially 019_1..- 1993 revenues) app priated to finance a street_ realignment project at 58th Street and.Qsgood Ave_ue. The remaining "City TIF" (1994- -"T995 revenues) has not been appropriated. Lost TIF- "Lost TIF" represents increased TT revenue caused by increasing tax rates. Such monies are returned to the City,County and School District(annually)rather than to the TIF District. The City has designated its portion of such monies for City-wide street reconstruction purposes. • Bonding/Tax Levy Street reconstruction costs are proposed to be financed through the issuance of improvement bonds. These bonds will be repaid by a combination of assessments and tax levies. ,05/05/95 09:52 $612 426 5004 TAUTGES. REDPATH ti 004/005 Honorable Mayor and City Council Street Reconstruction Financing May 4, 1995 Page 3 zr The City engineer recommends assessments totalin: $638,331 or street improvements and �� concrete curb/gutter. Based on this t a roximate assessment to residential property is 27645 ✓ „ 0 per lot. uaung an interest rate of 8O10 and a I ye sscssment period, the annual assessment 6 would be as— lows: X I1-1 C' 75%, Year Principal Interest Total 0/0 5 1 5265 $212 $477 2 265 190 455 3 265 170 435 ? 4 265 148 413 5 265 126 391 6 265 106 371 1,J" 7 265 84 349 n 8 265 63 328 r' ,,(W� , 9 265 21 281 = *Z3/✓n0 2.11 10 260 21 281 Total $2.645 $1.162 $3.807 , I - 'X31/ The remaining portion of the debt service is proposed to be repaid by property taxes. A schedule of existing and proposed bonded debt tax levies is as follows: 1995 --k, Existing Improvement � Year Levies Bonds(1) Total - 1995 $25,000 $ - $25,000 v_ 1996 25,000 - Z5,000 1997 25,000 - 25.000 �'. 1998 25.000 67,000 92,000 1999 25,000 68.000 93,000 2000 25,000 69.000 94,000 2001 • 70,000 70.000 2002 - 71,000 71,000 2003 - 72,000 72.000 2004 - 73,000 73.000 , 2005 - 74,000 74,000_ Total $150,000 $564,000 $714,000 (1)See schedule prepared by Juran and Moody,Inc. 05/05/95 09:52 %2612 426 5004 TAUTGES. REDPATH 121005%005 Honorable Mayor and City Council Street Reconstruction Financing May 4, 1995 Page 4 Summary This report is an update of a previous financing plan report. The elements of the proposed financing has been discussed with the City council at various meetings. The key elements of the financing plan are as follows: 1) Concurrence with the City engineer's recommendation on special assessments for street reconstruction. 2) Concurrence with financing of the City portion of street reconstruction by future tax levies. 3) Concurrence with the financing of the storm sewer extensions and utility repair costs by appropriating existing/projected reserve balances. Respectfully submitted. TAUTGES, REDPATH & CO., LTD. David J. Mol, CPA c: Michael Robertson Judy Hoist Joe Anderlik Mark Vierling Tom Truszinski Enclosure F .."47110..... - a ni∎-f 7f-f� t ■riiFIpL1llhrr f� _I A. i. — Discussing Current Items of In terest to Municipalities, Utilities u-Counties AIL Alii Summer, 1995 Additionally, analysts believe the entity's fiscal What Analysts Look for When fitness is directly corre- lated to the area's economic health. Rating Bonds When assessing the economic base, rating analysts consider the The key to a favorable managerial efforts are area's per capita and per bond rating is a govern- the only methods of The Role of Economic household income, Factors ment's ability to deal with eliminating future crises growth rate of income, problem areas. Analysts and bolstering economic Economic factors employment makeup, expect governments to growth. play a major role in a labor force makeup, always take appropriate Rating analysts focus bond rating and cause population makeup corrective actions, whether on four major factors: significant rating (including age and they involve budgeted economic factors, includ- variances between education level), em- adjustments or the realloca- ing indicators from the governments. Rating Plover and taxpayer tion of resources. This entity's surrounding analysts focus on the makeup, construction requires governmental area; the entity's debt economic base because it activity, housing stock entities to look beyond the position and debt man- generates the resources age and composition, and quick fix and implement agement prior to the new to repay the bond debt. "Rating Bonds" long-term reforms, such as issuance; financial continued on page 2 reorganizing departments factors, such as financial x or improving employee trends and current e alist o a torte aced b relations. These long-term . financial information; az i c ` " r „ to obtain a iouick „ 1 corrective actions will and administrative � tofthe,ftit(i reduce or eliminate similar factors, such as manage- ,` problems in the future, ment and structural i °}`the apph'�C '*: This big-picture a - �` ,P� ```` p issues. Typically, the ' *o `� , � ' � t . 1 proach, used by more and percentage weight of <, ,% _1, a steadyrc , more analysts, means each element is s �_ v `� ' a' ` n•i syo�.hii��' o, ��i ' , . ' 7Ia W7 ,s 1 looking beyond the budget follows: . ;y - -a numbers and analyzing the Economic base = ., �,�' `"i' ' -ht When bet " tY issuer's approach to the 50% iy..: . , budgeting process. The Debt position = 20% o '' ,'x ,; ,,','1,',.'ed e ` rationalization behind this :,:,,%.,i-i-..`4-, — , M,. Financial factors = 20% o a s r ' _ is that long-term planning and exacting political and Admin. issues = 10% ' � !budget ; * t ' 4.:4 .;tel asset cysts ' 1 Actual weights may i. C'! 4ti� :- 1 4, ,es each vary due to the nature of O #:-,..;:,..,-,,,'..,..1- r s �, "' llilpT p the issuance, appli- " lilt,j Fears of issuance A cant's history and other , o : t not exceeding ` . economic factors. k�15%a.o _ . _s , .property valuation Virchow,Krause&Company � 1, Certified Public Accountants&Consultants Municipal & Utility Division Post Office Box 7398 • Madison,Wisconsin 53707 • 800-362-7301 (Nationwide) "Rating Bonds" Comparison of Here is a list of factors used by, continued from page 1 budgeted to actual ,. analysts to obtain a qucc�"; ,<< performance is another _l. retail sales volume, assessment of theinanc among other indicators. financial indicator that .�• w� ` � V t mattes of the app f ant:7� rating analysts look at ,. An economic factor "�� '� ° '���� ' � that is more difficult to when establishing a o • Current *ear operating:deficit ; 4 �,',,. bond rating. Analysts o Two consecutive Years of operating fand de11dts quantify is the quality of `'K 'a + tend to favor strong o�3 Curren�enerai fund deficit ; ; life within the govern- o "SlioiE terar a ''''' e end of the fiscal mental unit. Factors that Policies of budgetary °excess o e 9 ''- inf fie . '. planning, including such � r,'ri ,, indicate quality of life o Property taa c !coon less thaa 92ii include crime statistics, budget-balancing tactics y. 7's ";� as cash management, as o1Market i two c ' t `" the homeless population well as rising costs and �` *°� `' and school quality. This o Ne"t debt.ratio 50*higher Etian criterion is important shortfall contingency o current r :Goa deficit larg r thaw ,+ " h• ear plans. �. ��', ? `� because people and Often analysts view a Twa-ye r fiend of Increasing short , businesses tend to move fia rategreater than of .- .. 1 the general fund as a o Property _ , , to an area with a high o Net debt outstanding greater than' 'fa ' •�' cushion against unfore- quality of life. Therefore, �- k the analysts believe seen contingencies. o Ddtne 4ax,,collehou last two ou of ., these factors affect the Generally, they like to 44 * ' see a general fund of at area's growth and ability o Fotalne�i ebtra a 20,h�gherthap least 5% of the govern- .;, to raise future revenues. �� � . ment's revenues. How- Debt as a Factor ever, large fund balances information from the affect repayment of the In analyzing debt can be a drawback preceding 10 years. One bond. position and debt man- because taxpayers often rating agency estimates The Final Evaluation agement, rating analysts see this accumulation of that the CAFR contains The final task of a consider the entity's debt cash as an indication of 90% of the information sctructurehedules, expected Governments an issuance. p overtaxing. analysts require to rate rating analyst is to s , repayment Gnts should perform an overall nt ca derive repayment evaluation of the ability borrowing, capital plan, Issues in and willingness of a debt burden, projected from a variety of tax Administration need for future debt sources to avoid relying borrower to pay debts financing and capital on one sector of the Analysts split admin- and to decide if there are outlays. They also economy. Additionally, istrative factors between significant features or review past voter perfor- analysts view timely tax two categories: manage- weaknesses that could mance in bonding increases as a positive ment issues and struc- lead to fiscal trouble in authorization approval. reflection on the entity's tural issues. Manage- the future. Additionally, With this information, management. Generally, ment issues involve the analyst will compare analysts can determine analysts consider prop- budgeting and long- one issuance to another the burden that the erty taxes a more stable range planning tech- to categorize credit by repayment of bonds will source of income than niques used by manage- the level of quality. place on government and other types of taxes. ment and trends in labor While analysts the taxpayers it serves. Analysts use the relations. Structural generally employ objec- Comprehensive Annual issues are the govern- tive measurements, The Financial Picture Financial Report(CAFR) ment's revenue struc- ultimately they must The financial factors to obtain current finan- tore, its relationship make a subjective considered by rating cial information and with neighboring govern- judgment of quality. For analysts include current determine if current ments, services provided example, they may and past financial revenues are sufficient by the government, and prefer an issuance with a trends, patterns of to cover current ex- the flexibility with which reliable 120% coverage financial control, method penses. The CAFR it can provide these factor to one with a of accounting, prior year contains information services. These factors 170% coverage factor audit findings, cash flow required by generally assist the analyst in that is subject to wild problems and unusual accepted accounting identifying potential fluctuations due to expenditure growth principles as well as weaknesses within the elements beyond the trends. additional statistical 21 government that may control of the entity. CITY OF OAK PARK H '- _ ;.t .z.,,,..„,-,-,.„, . ......,..„..,_.;„ CONSTRUCTION NOTICE A MINNESOTA STAR CITY May 26, 1995 A tentative date of May 31st has been set for pouring the concrete curb, gutter, and aprons on Oren Avenue and 57th Street, East of Oldfield Avenue. The contractor has decided to curbs and the aprons simultaneous) Pour the day curing period, when residents will not wbelallowed toe use their driveways . However, residents can front of their park in the streets in curing period. Residents outside of the a ea de scribed above will receiv the near future , indicating the tonbeher memo in e date for curb their street. placed on All vehicles you will need to use during this 5-da be parked on a street other than 57th Street or yOren1Ave Avenue Tuesday morning, so they can b Tuesday the curb prepare to pour curb on Wednesday.by cars next to the curb placed n front sprayed o white, you may place your not drive on your new aprons for your All drrive w y e do subjected to early use by the homeowner will be replaced and the cost added to the homeowner' s assessment. All residents may fill out the attached form to widen their driveway opening for the the future. purpose of building a wider driveway in Please indicate which side should be widened and by how much. If you have further 3902. It is CRITICAL that these forms be ireturned please c to my mailbox me at 439- near the construction trailer, located on the corner of 57th Street and O'Brien Ave. (by City Hall ) , no later than 7 :00 a.m. , Wednesday, May 31st. If no form is returned for by this time , we will simply match the flat opening existing driveway width. your Additional Notes : Please be aware that our street excavation process will cut off access to your driveway for approximately one day. Also, cars should not travel through the excavation area, as there may be some very rough roads. This is a "road closed" zone and anyone entering it, does so at their own risk. Residents living on streets with storm sewer installations will have an additional day when they will not have access to their driveways . Please call me know if you have , Carol Caron, at 439-3902 , and let me special needs during these times . If I am not in, please leave a message . Please also be aware that NSP owns all street lights within this project and will be replacing electric lines and moving light poles in the near future . This will cause some of the lights to be out of service. Please contact NSP at 779-3163 if further questions regarding this . You have - y w CITY OF _, .. . OAK PARK H E IGHTS „....., . ....., , . ,„..›?\ .. * A MINNE_SOSA STAR CITY EX tended • t----4 (61-. ....... .�,Ipq'.:.��, l!Ij\ " lid, � �_�:� � ry .> �q1. �1 i;F. ��` ec , i III -,lll�l i ,Iii ,z{� ,., _�(y„IUII .-'+'q', '9 �� q0Xn deol ;r lGi '°�0 .,1111 (A 7• '�ij;'`..ii Ijp �� 0 • s;voli„Ii!j, Ij!jjC.ii; ,p l ilk,:1iii;1, tI`1I'i' `'I lli �IIII!*T' 61IzZ li!I.' M 1 ; Please ind; afe ev.fe.nde c1 vvidAh an/y • t i0641;0o5e. Of add;n9 on fa —Hie drIvaiicZL/ of CC, fr�C/L/1 old dlvive.,r,�ay 60 Q wider w;dfh. IUOk Z k a r 52Cd,on L5j'lal i.'n Cr) e I flier' Sale Of /Ile The f Pz !/ alit r�uia s dvi vcwct i5 sf a.n d2rd ct,nd w; 11 b'c add e c{ f`' a' ,phone Hon-re ; WorZ_ : . 14168 North 57th Street • Box 2007 • Oak Park Heights, Minnesota 55082-2007 Phone: 612-439-4439 • Fax: 612-439-0574 212-553-4000 66/12/95 89:26:56 212-553-4888-> 612 439 8574 Moody's Investors Page 681 FAX Transmission From: MI6 41M, ■ Moodys __._. &M. MEMMO IMV ME/ Investors Service Public Finance Department 99 Church Street, New York, NY 10007 . Telephone (212) 553-1625 J TO: MR. MIKE ROBERTSON CITY OF OAK PARK HEIGHTS FAX: 916124390574 FROM: VERNASAM Public Finance Dept. Moody's Investors FAX: 212-553-4000 VOICE: 212-553-1625 DATE: 6/12/95 9:24AM NNIIMMINImm 06/12/95 89:27:11 212-553-4000-> 612 439 8574 Moody's Investors Page 882 A RATING WAS ASSIGNED TO YOUR DEBT ISSUE(S) TODAY Moody's has already undertaken these two immediate actions to disseminate your rating throughout the investment and municipal communities. Rating Recap-- The third page of this fax is an excerpt of Moody's Municipal Daily Rating Recap for your issue. Immediately after you were notified of the rating, Moody's made your Recap available electronically to every major participant in the municipal investment community. Your rating will also appear in the printed copy of today's Rating Recap, a daily summary of Moody's rating activity, which is delivered to all our Public Finance subscribers. Rating Desk-- Immediately after you were notified, information about • your issue's rating was made available to the public via Moody's Rating Desk. Our Rating Desk received more than 90,000 rating inquiries last year from fund managers, bankers, financial advisors and issuers. Up-to-date information about your issue is provides to them throughout the year. The immediate dissemination of you rating provides the broadest possible awareness of your issue, which enhances its marketability. If you have any questions about the attached Racap or how Moody's distributes rating information, please don't hesitate to call the analyst whose name and telephone number appear at the bottom of Recap. If the transmission is interrupted or if it is of poor quality, please notify us immediately by calling (212) 553-1352 and asking for Marie Joseph. 86/12/95 89:27:45 212-553-4888-> 612 439 8574 Moody's Investors Page 803 Moody Municipal• • l Daily Rating Recap Oak Park Heights, Minnesota Rating date: June 9, 1995 Moody's rating: A General Obligation Improvement Bonds, Series 1995 Sale: $1,130,000 based on the amount of capital recently invested in the Date of Sale: June 12 facility. Type: Competitive Security; General obligation, unlimited tax; payable pri •Finances are well managed, supported by ample Gen- -from special assessments levied against benefited oral Fund balances. Property taxes provide 66% of the property. city's revenues and demonstrate timely collections. Use of Proceeds: To finance roadway curb, and sewer The city's financial position has remained stable over improvements. the last four years. Taxable values have declined Last Rating change: No change. slightly due to an 8(c depreciation of the power plant's value in 1990, and to a state mandate requiring Credit Comment: Oak Park Heights General Obliga- tion Bonds have been rated A based on the following a decrease in the tax levy for power plants. Officials factors: expect commercial growth within the city to offset any loss in taxable values. •A northeastern Twin Cities suburb of approximately •Low levels of debt with rapid payout. The current 3,800 people continues to experience residential issue will finance roadway and sewer improvements growth. Income levels are above average and county within an existing residential area. Officials expect to unemployment remains low. The city's tax base is dominated by a Northern States Power Company gem_ support a portion of the current issue with special crating facility, which accounts for approximately assessment revenues, yet the bonds are ultimately of the city's taxable value. Officials expect the 63% secured by the city's general obligation pledge. The city has no additional borrowing plans at this time. facility to remain in operation for at least 20 years a 6-211 ........ . analyst: Robin Schwartz (212) 553-0038 ........ 86/12/95 09:28:27 212-553-4000-> 612 439 8574 Moody's Investors Page 884 2 As of June 9, 1995 Moody's Municipal Daily Rating Oak Park Heights, Minnesota (continued) Copyright 1995 by Moody's Investors Service.Inc..99 Church Street.New York.New York 10007. All rights reserved.ALL INFORMATION CONTAINED HEREIN IS COPYRIGHTED IN THE NAME OF MOODY'S INVESTORS SERVICE,INC.("MO( AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED. 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Enclosure 4 AtA,Q4„ CITY OF OAK PARK HEIGHTS SPECIAL COUNCIL MEETING MINUTES, TUESDAY, OCTOBER 30, 1995 Call to Order: The special meeting was called to order at 7 : 00 p.m. by Deputy Mayor Kern. Present : Councilmembers Robert & Schaaf . Councilmember Swenson arrived at 8 : 18 p.m. Mayor O 'Neal . Staff Present : City Administrator Robertson, City Attorney Vierling, and City Engineer Anderlik. r- - R- .n ' o - Depu opened the Assessment Hearing at 7 : 00 . Deputy Mayor ty that Mayor O'Neal was sick with the flu and Councilmember Swenson was absent on a fire call . The following people were present for the meeting. Bill & Millie Hinzman Bill Shelton 5593 O 'Brien Avenue Dan & Faye Thomas 5919 Oldfield Avenue Phyllis Dahl 14258 56th Street Wesley Underhill 5665 Omaha Avenue Shirley Nyberg 14508 57th Street Joseph Carufel 14595 57th Street Jack Doerr 14625 57th Street Mary Buckley 14520 Upper 56th Street Kathleen Maynard 5860 Oldfield Avenue Pamela Mitchell Holm 14535 Upper 56th Street Lee & Sandy Gramenz 14551 Upper 56th Street Doug Schoenborn 5663 O 'Brien Avenue John Low 5683 O 'Brien Avenue 1458 Ridge Road James Bibeau New Richmond Mike Knutson 5685 Oldfield Avenue Jeanne & Dean Hargrave 14315 56th Street Allen Gosselin 14401 Upper 56th Street 5554 O 'Brien Avenue In response to questions, City Engineer Anderlik explained that slightly less than half of the cost of the Street Reconstruction will be assessed to benefiting property owners . The remainder will be paid through tax levies . Anderlik said that construction costs for the project had come in under the original estimate. Councilmember Robert noted the lower costs had occurred mainly in items such as storm sewer and utility repairs, which the City had not planned to assess property owners for from the beginning of the project . Anderlik said that was the reason he recommended no change in the proposed assessment . Page 2 - Minutes 10/30/95 Anderlik noted that the improvements have a two year warranty, rather than the more common one year warranty. Anderlik said that any problems in street reconstruction typically will show up in the first year after construction. He stated that the City will retain approximately $50 , 000 of the contractor' s money until all problems are fixed. Anderlik in particular noted that the contractor will have to return to fix sod and driveway complaints or they will not be paid. Councilmember Schaaf stated that the City had chosen to assess residential property on a per unit basis rather than on a front footage basis . He said that Council thought uses g that would tbeethen fairest method because each residential approximately the same way. Anderlik said that commercial properties had been assessed-on a front footage basis because of they varied greatly in size of lot, size of building, and the public street . There was considerable discussion of what interest rate to charge assessments . Robertson noted that Council had recommendations before it ranging from 6 . 5% to 8% . City Attorney Vierling explained that the interest charged covered property owners who didn' t pay their assessments, future administrative costs for the City, and other unforeseen contingencies . Deputy Mayor Kern asked if the $3 , 000 in contractor' s penalties could be returned to the property owners in the form of a lower assessment . Anderlik said that would be a savings of $12 per residential unit and 15 cents per front foot for commercial property. Vierling said that per State law, the City would to send a notice to every property owner in the assessment area informing them that their assessment had been changed. Robertson suggested that reducing assessment interest would be an easier way to return the penalty savings to property owners . Hearing no other comments, Deputy Mayor Kern, seconded by Robert, moved to close the public hearing at 8 :15 . Carried 3-0 . interest Rate - Councilmember Robert, seconded by Schaaf, moved to set the interest rate for the assessment at 6 . 5% . Carried 3- 0 . r tiOn 95 10 46 A Resolution Ordering 1995 Street Improvements . Councilmember Schaaf, seconded by Kern, moved to approve Resolution 95-10-46 . Carried 3-0 . Councilmember Swenson returned from a fire call . Page 3 - Minutes 10/30/95 Re .1 ti.n • -11 -47 - A R- .lution Ado.tin• Stre-t m. .vemen Pr. . - t . Councilmember Schaaf, seconded- by Kern, moved to approve Resolution 95-10-47 . Carried 4-0 . Council thanked residents for their patience during the street reconstruction project . Adjournment: Councilmember Robert, seconded by Schaaf, moved to adjourn at 8 :24 p .m. Carried 4-0 . Respectfully submitted, Michael •obertson City Administrator Enclosure D MQdy'S uniapai Credit Report Oak Park Heights, Minnesota June 15, 1995 New Issue Update General Obligation/Special 9 Tax Moody's rating: A Credit comment: Oak Park Heights General Obligation Bonds have remained stable over the last four years. Taxable been rated A based on the following factors: values have declined slightly due to an 8%depre- •A northeastern Twin Cities suburb of approxi- ciation of the power plant's value in 1990,and to a mately 3.800 people continues to experience resi state mandate requiring a decrease in the tax levy dential growth.Income levels are above average for power plants. Officials expect commercial and county unemployment remains low. The city's growth within the city to offset any loss in taxable tax base is dominated by a Northern States Power Company generating facility, which accounts for ■values. Low levels of debt with rapid payout.The current approximately 63%of the city's taxable value. issue will finance roadway and sewer improve- Officials expect the facility to remain in operation ments within an existing residential area. Officials for at least 20 years based on the amount of capital expect to su ort a recently invested in the facility. PP portion of the current issue with special assessment•Finances are well managed, supported by ample are ultimately secured by the city 's general obliga- tion pledge.The city has no additional borrowing General Fund balances.Property taxes provide 66% of the city's revenues and demonstrate timely plans at this time. collections. The city's financial position has This update supplements the Credit Comment pub- 1995 sale of$1,130.000 General Obligation Improve- lished in Moody's Rating Recap on June 12. The update was prepared in conjunction with the June 12. ment Bonds, Series 1995. key facts: G.O Bonds Outstanding: o$3.535,000 City Per Capita Income, 1989, Debt Burden: 5.4% as%of State: Payout, Ten Years: 105.7% 93.4% Population Growth, Average Annual Decline in 1980-90: Taxable Value, 1991-95: 34.5% 2.0/� Unemployment Rate, 1993: 4.0% Full Value per Capita, 1994-95: 3/94: 3.99 $61,068 3/95: 2 g Largest Taxpayer, Northern State qc Power Co., as%of Tax Base: 63.0% Moody's Rating, General Fund Balance Northern States Power Co.: Al [7 Approximately$1.090.000 will be called December 1. 199.5.Series 1997 as%of General Fund Revenue, 1994: advance refunded Senes 1991 Bonds. 65.7% 2 General Obligation/Special Tax June 15, 1995 Oak Park Heights, Minnesota sale information: Legal Name of Issuer: City of Oak Park Heights, Key Contacts: ef Financial Officer: Judy Holsc, Minnesota. (612)439-4439. Date of Bonds: July 1, 1995: Advisor: Juran&Moody,St.Paul, Security: General obligation,unlimited tax:Payable (612)224-1500. primarily from special assessments levied against Bond Counsel: Briggs and Morgan, benefited property. St.Paul,(612)223-6600. Use of Proceeds: To finance roadway curb.and Auditor: Tautges,Redpath&Co.,Ltd.. sewer improvements. White Bear Lake,(612)426-7000. rating history: June 1995: A September 1976: A November 1994: v Withdrawn u No application received analyst: Robin Schwartz (212)553-0038 • General Obligation/Special Tax June 15, 1995 3 Oak Park Heights, Minnesota debt factors: Debt Statement as of 6/9/95 ($000): 3 Bonded debt outstanding Amount Current offering (6/12/95) $2,405 Gross bonded,gross direct and direct net debt 1.130 Overlapping debt $3,535 Overall net debt 8.557 C]Approximately 51.090.000 of outstanding Series 1991 bonds will be called December 1. 1995. $12'092 Defaults: None recorded. Debt Ratios Net Rate of Retirement Debt Per Ar % Median Principal Amount Capita Median a F.V. 0 % %of Direct mount Due ($000) Total 51,014 $ 956 1.6 2.1 In 5 years Overall 3.=169 1,729 5.4 $1,480 41.9 O 1995 median for cities with population under 10.000. 3.8 In 10 years 3.300 93.4 Structure: Rapid payout. Level debt service pay- CIP/Future Borrowing: No future borrowing ments until final maturity in 2006. plans anticipated at this time. administrative Form of Government: Statutory city; elected factors: School District Data: The City of Oak Park Heights mayor and four council members, appointed city is served by Independent School District No.0834, administrator-treasurer, finance director,attorney. Stillwater, which operates 12 schools with a com- and engineer. Public Employees: The city employs 15 full-time blued enrollment of 8,297. and one part-time. Contributory pension plans through state-administered PERA. property Oak Park Heights valuation and tax data: Levy/ Taxable Collection Value %%° Tax Year ($000 v Full Capacity Levy %Current Chan•e Valuation ($000) © Rate(%) 1991-92 $6,033 _3 $2 6 ($000) Collected 1992-93 . 5.815 -3.6 00,074 18.83 $1,156 99.8 1993-94 5,814 0.0 200,083 21.16 1,245 99.8 1994-95 5,770 -0.8 205,302 21.42 1,263 99.3 0 Net tax capacity 208,633 23.12 1,353 In process OO Estimated market value before sales ratio applied 1994-95 Full Valuation: $212.882,619 Average Annual Growth F.V., 1990-91-95: 2.0% 1994-95 Equalization Rate: 93.9% 1994-95 F.V. per Capita: $61.068 4 General Obligation/Special Tax June 15, 1995 Oak Park Heights, Minnesota Taxable Value Business 1994-95 Largest Taxpayers $3,621 Northern State Power Co. Electric utility Commercial 451 Oak Park Partners Commercial 117 Wal-Mart Stores Real estate 83 Oak Ridge Place Commercial 82 K-Mart Corp. 64 Port of Sunnyside Commercial economic Population:Oak Park Heights Change Area �, factors: Year Population (sq.mi.) Density • City County State U.S.0 1970 1.238 - - - 58.3 11.5 13.3 1980 2.591 0 8.637 109.3 36.8 7.1 11.4 1990 3.486 2 1.533 34.5 28.5 7.3 9.8 Source:U.S.Census Bureau 0 Land area in 1990 can indicate an area change without a boundary change due to new measurement technique. Location: Washington County,approximately 20 miles northeast of Twin Cities. Population and Housing Characteristics:Oak Park Heights City State U.S. 1980 1990 1990 1990 Population: Median age 27.6 33.3 32.5 32.9 9c school age 22.7 16.8 19.0 18.2 9c working age 58.7 65.0 60.8 61.7 % 65 and over 9.4 12.4 12.5 . 12.6 No. persons/household 2.7 2.4 2.6 2.6 Income: Median family income $22,808 $37,895 $36,916 $35,225 9c below poverty level 3.8 7.9 10.2 13.1 9c children below poverty level 10.4 12.7 18.3 . Per capita income $7,805 $15,210 $14,389 $14,420 Housing: 0 2 5 7 3.0-9c vacant 65.3 62.6 71.8 64.2 9c owner occupied 9.5 24.5 18.4 % built before 1939 9c built since last census 29.4 18.5 20.7 Owner occupied median value $61,100 $86,700 $74,000 $79,100-Median gross rent $482 $422 $447 Occupied housing units 955 1,322 Source:U.S.Census Bureau. General Obligation/Speclal Tax June 15, 1995 5 Oak Park Heights, Minnesota Labor Market Characteristics: Washington County Year Labor Total %Unemployed Force Employed County State 1990 U.S. 1991 81,585 76.630 73,504 4.1 4.8 6.7 85,162 81 1992 4.2 5.1 6.7 1993 85,284 87,190 83,604 4.1 5.1 6.4 88,838 85 3/94 4.0 5,1 6.8 3/95 2 8 91,748 88,176 3.9 4.6 94,904 92,205 5.7 Source:Local Area Unemployment Statistics(LAOS).Bureau of Labor Statistics. 3.7 5.7 Monthly osnmates are not seasonally adjusted. LAOS estimates starting in January 1994 are conceptually different from those available for earlier periods. Per Capita Income:Oak Park Heights Year Income %Change City as%of City City State State U.S. 1979 $ 7 1989 15,210 145.2 104.8 107.0 94.9 93.1 105.7 105.5 Largest Employers Employer Employees Minnesota Correctional Facility Business 1994 St. Croix Mall Prison 350 Wal-Mart Retail 300 K-Mart Retail 200 Northern States Power Co. Retail 135 Rouston Motors Electric utility 110 Source Otticwl Statement Automotive sales 50 financial factors: Operating Funds Financial Performance (fiscal years ended 12/31 $000) 0 1 992 %Change Revenues 1993 1994 1992-93 1993-94 Expenditures $2.071 $1,969 $1,929 -4.9 2.088 2,169 2,030 -6.4 Operating surplus © 12 3.9 -2.4 O General and Debt Ser.ice Funds.(modified accrual method of accounting). 93 91 675.0 -2.2 0 General Funa only • • 6 General Obligation/Special Tax June 15, 1995 Oak Park Heights, Minnesota 1994 Sources of Revenue % 1994 Items of Expenditure 33.6 General property taxes 66.3 Public safety 18.2 Charges for services _ 12.4 General government 118 8.2 Intergovernmental 7.1 Debt service 16.7 32 Recreation 8.1 Interest on investments .4.7 Sanitation Licenses and permits 4. Special assessments 1.5 Streets and highways Other 0.2 General Fund Financial Position (fiscal years ended 12/31 1992 1993 1994 $930 $1,117 $902 Cash and investments Operating loans $874 60 gl Other current liabilities 56 Year-end cash surplus 174 $1,081 3 $842 60 6 357 Receivables $1,013 $1,092 $1,195 Fund balance - $15 $ 3 Undesignated fund balance Debt Service Fund Financial Position (fiscal years ended 12/31 $000) 1992 1993 1994 $911 $1,481 $1,330 Cash and investments 218 93 71 $2611 Other current liabilities Year-end cash surplus $693 $1,388 $1,259 72 219 Receivables $ 918 $1,481 $1,335 Fund balance 8188F01 • • Copyright 1995 by Moody's Investors Service.Inc..99 Church Street.New York.New York 10007. TRANSFERRED,INVESTORS SERVICE, All DgNONE OF SUCH INFORMATION ATIO CMAYABEECOPIEDIOR OTHERWISE TRE RO REPRODUCED, REPACKAGED,SF FURTHER TRANSMITTEDC TRANSFERRED, ), DN DISSEMINATED. R MANNER OR BYD ANY MEANS WHATSOEVER.HAT OEVER BY ANY PERSON WITHOUT MOODY'S PRIOR WRITT NICONSENT WHOLE OR IN PART,IN ANY FORM O All it factors.h weverisuch herein tormatiun is obtained by v MOODY'S "as is—s from sources arra ty of anyykind and accurate reliable. the representation or warranty. xpresslor implied.as to the accuracy.factory.home . any yhp rsonracy.tti y for(a completeness. any loss or damage int wnhole or in part caused by.resulting purpose m of ora relating to.any error negligent or otherwise)o aotN other circumstance or contingency ay person or de the for t r any to within or outside the control of MOODY'S or any of its directors,officers.employees or agents in connection with the procurement.collection.compila[ion,analysis.interpretation. limitation. p s).en ii deliODl S isadvis information.in advance of the possibility of such damages.re.ult ng from the se of or inability dto use damages anya uch`informatno including without lunnauor lost atings).even if MO The credit ratings, it any. constituting pan of the information contained herein are. and must be construed solely as. statements of opinion and not statements of fact or MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR URPOSE�OF EXPRESS OR IMPLIED. AS TO THE ACCURACY.ANY SUCH RATING OR OTHER OPIN ON OR INFO MEATION IS GIVENLOR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER.Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on eachlfro ide user of credit information t eachasecurit rethataitdmayhconsider purchasing .rholdng or selling. Pursuant to Section each security and the Securities f Act issuer and guarantor of.and MOODY'S hereby each provider of o credit as assignment ofianytratinc agreed to securities MiOODI"S for appraisal and ratingaservi es rendered by notes fees ranging from S1.000 paper) $350e000Ted stock rated by MOODY'S eve.prior to • ENCLOSURE A nBonestroo 0 Rosene Pro Sect: Pose lug Anderlik & Calculations For: Pro'. No. Ul Associates Prepared B : Date: Reviewed B : Date: ôcrhood /17ed-me 5 r rr) ,_40.s_... ..„.../&__Ca.5 41°6A'''' 4 one Poltk.,.. 5? Cr c� a `13 c 1 � CIA, c1 "-(- , 5 LL4She.f�,� 5919 bit; i A-,� e 3 -o I o a .i...•..z.„,,,,,,, 5-kt)r f, , ,, Pmt Gcl, L 141 k10o (. Z % IQ � 33 - I.2 7 D��,g�yj P� X30 - i� 3� . Z X663 AZeiP// vl_/i& /._5, -- �.��0 5D33 0/1781__ � .���0 14430o 511,,A. 4-11-iikip 41 -b ci- 377z ,� � s8g�- ©�ciel 939 5/�¢- 10//( \ ����L�6 77 - sT-/v (-1 3 y - 1,17 0l Stel -9:,V D.9,53- /bull Lau 595z l - 439-ig 95 ■ J . I Y6 N S 65 4'3 7 ca33 `5--5-5. 7 v/ /Pu C 'zGc_i9-Ocara. J ,JA-4-D f( 4.9.6 /K 7a 072f-577 = ENCLOSURE Al Bonestroo Rosene Øak Anderlik& ark Associates Engineers&Architects eight s St.Paul•Milwaukee -11__ minnosota PROJECT STATUS NOTICE March 21, 1995 Residents of Oak Park Heights Street Reconstruction Area Oak Park Heights, Minnesota This notice is to inform you of the current status of the utility and street improvement construction scheduled for Oak Park Heights. This notice will be available at the March 21, 1995 Neighborhood Meeting and is also being mailed to all residents in the project area. GENERAL INFORMATION This project provides for reconstructing the streets in the Oak Park Heights area. The streets in the project are approximately 32 feet wide and include existing bituminous curb. The proposed improvements provide for removing the existing bituminous curb and constructing a new concrete curb. The existing bituminous street surface will be ground up and recycled as base material. The existing street subgrade will be reconstructed in some areas, a new aggregate base will be placed, and a new bituminous surface will be placed. In addition to the street reconstruction there will also be utility construction. This will consist of the installation of some storm sewer, repairs to the existing storm and sanitary manholes, and the repair of the existing and sanitary sewer, as necessary. To keep you informed about the project, regular Project Status Notices similar to this one will be sent out. The notices will inform you of specific construction in your area and will advise you of any matters that will require your input or attention. In addition, a phone number will be available for you to leave messages for the project managers with any specific questions you may have. 3/21/95-Notice 2 Page 1 Project Status Notice Residents of Oak Park Heights SCHEDULE AND DURATION OF THE WORK A Public improvement hearing for the project was held on January 23, 1995. At that time the City Council authorized the preparation of detailed construction plans and specifications. The plans and specifications are prepared in draft form and are scheduled to be presented for approval at the March 27, 1995 City Council Meeting. Actual construction should begin around the middle of May. For this project, a formal assessment hearing will be held after the completion of construction. The assessment hearing is tentatively scheduled for October 2, 1995. This project has been designed and plans prepared for two separate phases. The North portion Phase One includes, Oldfied Ave. N., OBrien Ave. N. and 57th Street N. The South portion Phase Two includes the remaining streets as shown on the location plan or Figure No. Two. However, the City Council will make the final decision as to whether or not the project will be constructed all in one year or in two consecutive years once the project has been bid. COMMONLY ASKED QUESTIONS 1. How will my garbage and mail services be affected? Regular garbage/recycling service should ishment of a few be maintained al mail box locations. service will be provided through the establishment will be in contact with the Postal Service to establish locations for the placement of temporary mail boxes for each home o eh t Establishment of temporary mail box boxes will be used for the duration of the p locations is required due to Postal Regulations. At the time of construction, your individual mail box will be removed by the construction contractor and placed nextl be reset at project. Upon completion of the project, your m ailbox will mail service to your home will resume. 2. Will I be able to drive on my street during the project? A drivable surface consisting of either recycled asphalt or gravel will be maintained at all times during the construction. 3. How will my driveway be restored after the construction? ost Existing driveways will have to be partially removed for reconstruct of the slope of the driveways will have from 5 feet to 8 feet removed depending on p driveway and the location of joints or cracks. A 5 foot concrete apron will be constructed on all driveways and the area beyond the 5' will be replaced with an inkind material to match the existing driveway. Page 2 3/21/95-Notice 2 Project Status Notice Residents of Oak Park Heights 4. Will there be times when I will be unable to use my driveway? During the aggregate base placement there will be approximately one day when you will not have access to your driveway and will need to park further down your street or on another street. During the construction of the concrete curb and gutter access to driveways will not be available for approximately 6 days while the concrete sets. Once the concrete curb has set the contractor will construct the 5' concrete apron and there will be another period of 6 days when they will have to wait for the driveway concrete to set before they can drive on it. You will be able to park on the street in front of your house during the concrete curing time. 5. Is the sod going to be replaced? Reconstruction of the streets will require that approximately 3 to 4 feet of the boulevard will be disturbed. Any turf that is removed by the project will be replaced by 3 inches of topsoil and new sod. 6. What will happen with shrubs, rockgardens, and other landscaping within the street right-of- way? The City right-of-way for the streets in Oak Park Heights is 60 feet wide, or approximately 13 feet behind the curb line. Landscaping and sprinkler systems that are within the right-of-way and the construction limits will have to be salvaged by the homeowner prior to construction. Generally anything within 5 feet of the curb should be salvaged. The construction managers will be able to answer individual questions from homeowners. 7. Will existing trees in the boulevard be removed? General City policy for new street construction is not to allow any trees within the street right-of-way. However it is the intent of this project to protect as many existing boulevard trees as possible. Obviously those trees that are within a few feet of the curb will have their root structure somewhat affected. Past experience has shown that these trees are able to withstand the construction. A few trees will have to be removed because of the construction. Those trees that are to be removed will be replaced by 2 1/2 inch diameter trees behind the right-of-way line. 8. What will the new streets look like? The new streets will be 32 feet wide (approximately the existing width) with concrete curb and gutter. Boulevards will be sodded where disturbed. Driveways will have 5 foot wide concrete aprons and will be replaced with the same material (bituminous, concrete, or brick) that was removed beyond the 5 feet. 3/21/95-Notice 2 Page 3 Project Status Notice Residents of Oak Park Heights 9. Is the City going to replace existing utilities with this project? City owned utilities include sanitary sewer, water main, and storm sewer. As part of this project minor repairs will be made to the sanitary sewer and water main based on inspection conducted of the systems. Storm sewer will be replaced at some intersections along with the installation of new catchbasins. New storm sewer will be constructed to collect drainage at the intersections of: Oldfield Avenue/60th Street; Oldfield Avenue/55th Street; and Oren Avenue/Upper 56th Street North. Private utilities (electric, gas, telephone, and cable TV) may also be making repairs to their systems along with the project. Please be advised that these are private utilities and all questions regarding the repairs to those utilities should be directed to the individual companies. However we will be working with the utility companies in an effort to coordinate the repairs of private utilities with the City's street reconstruction. NSP Gas has indicated that they intend to complete a major main replacement project in the project area. 10. What type of improvements will NSP Gas be doing? Preliminary plans are for the replacement of all gas mains in the project area. Since this is a private utility, the design and construction of the gas main does not involve the City. Questions concerning the design of the gas main replacement should be directed to Mr. Dave Stillman at NSP (229-2589). SUMMARY We realize that this construction project will impose some inconvenience to you. We appreciate your patience. A future notice will give you the project manager's (Carol Caron's)phone number when it is available. In the meantime you may direct any questions to either Carol Caron or Dave Hanson at Bonestroo,Rosene Anderlik and Associates (636- 4600). 3/21/95-Notice 2 Page 4 Jjjsonestroo 0):D Rosene a k Anderlik & • Associates ark Engineers & Architects St.Paul, Minnesota eights minneeota Neighborhood MEETING NOTICE Oak Park Heights City Hall Council Chambers March 21, 1995 - 7:00 PM Residents of Oak Park Heights Reconstruction Area Oak Park Heights, Minnesota As part of the proposed Oak Park Heights Street Reconstruction Project, an informational meeting for neighborhood residents has been scheduled for 7:00 PM March 21, 1995 at the Oak Park Heights City Hall. The purpose of this meeting is to provide residents with information regarding the scheduling and construction practices for the project. Items to be discussed include: 1. Scheduling 5. Driveway Repair 2. Street Improvements 3. Construction Sequence 6. Turf Restoration 7. Traffic Circulation 4. Mail Delivery 8. NSP Gas Improvements The meeting will also provide residents with an opportunity to comment and provide input on the preliminary construction plans. The meeting will begin with brief presentations by the City, the design engineers, and representatives from NSP: The presentations will be followed by a group question and answer period. Finally, representatives will be available at the end of the meeting to answer individual questions from residents on a one on one basis. Please Note: Only information and questions regarding the construction of this project will be discussed at this meeting. A separate assessment hearing has tentatively been scheduled for October 2, 1995 for residents wishing to discuss the assessment of this project. File No. 55113 .Mtg Notice 1 Z o d m o L e x x 4, mm k® m O O C m C CDC.QQ NOTE 41:7- 1. Remove existing bituminous surface. and curb on all streets 2. Construct Concrete Curb & Gutter on all streets. 3. Replace Aggregate Bose in specific areas as designated by Engineer. I N W D I C7 L 1 I .__-____j(------- - r N J ,...... .._.._............_. Oren Ave. ............... w • r: �' - N ^o v F----------- I + 6..._Z 0 m ........._ up is ; _... _ I ...._• ..^ ... ^in 2 zi ° r - g• O 9 L I IV" ° « g ° iL I _ ...o r Omaha Avenue ... N. .....z ^• s am, o — 2 L I_....-° P.56th •' "/ .S ^ , , Olene Avenue N. o ,n n i u 2 • S 2 I vl ,1,•.,., Olindo Avenue N.' --_.- }a y c ......�.. 9 ,�' I I •1`; - i _._._...._ (../ ra 1,1, i ...,,i3 2 z f ^ ! ..r U ^ o t �1 L i Oldtield Avenue N. ; ., ; • ° aI P w PR0P05ED / N �....a+� _ W "2 .< 3 RETAINING e ° -..... cC z W ti n WALL . . ....,, „ ,... It"' t--. cD ;., ,, 4. (X _ L7.1 n 4. / N �� 0 y O'brien • N, ;9; 0 Q to / N. vii 0_ O ___ ENCLOSURE A ktj Bonestroo Rosene a k NtlAnderitk & Associates c'�1r k � mine'', a Archttetts St.race. Minnesota eights minn• sates Neighborhood MEETING NOTICE Oak Park Heights City Hall Council Chambers March 21, 1995 - 7:00 k'1Vf Residents of Oak Park Heights Reconstruction Area Oak Park Heights, Minnesota As part of the proposed Oak Park Heights Street Reconstruction Project, an informational meeting for neighborhood residents has been scheduled for 7:00 PM March 21, 1995 at the Oak Park Heights City Half The purpose of this meeting is to provide residents with information regarding the scheduling and construction practices for the project Items to be discussed include: 1. Scheduling 5. Driveway Repair 2. Street Improvements 3. Construction Sequence 6. Turf Restoration 4. Mail Delivery 7. Traffic Circulation 8. NSP Gas Improvements The meeting will also provide residents with an opportunity to comment and provide input on the preliminary construction plans. The meeting will begin with brief presentations by the City, the design engineers, and representatives from NSF. The presentations will be followed by a group question and answer period. Finally, representatives will be available at the end of the meeting to answer individual questions from residents on a one on one basis. Please Note: Only information and questions regarding the construction of this project will be discussed at this meeting. A separate assessment hearing has tentatively been scheduled for October 2, 1995 for residents wishing to discuss the assessment of this project File No. 55113 .Mtg Notice 1 20'd 'OSSb' 2 OOalS9N09 1121 929 219 21:21 966T-20-20 to a O 4 !! ' - ' 4 '. . 1 7 / 1 / LII r,� / -., •,.., . .. lit� N � ! � fat: .; 4 ,, ' t-MIN , v 0350d42141 # In.agir el 1111.1 : r ;a ing likt "./..7: • AN: b i) ma 0 8 _ - a '. i IIIIIEIIIIIIIIIIIII is - cia . I . IP • - ,...:,/ /;;;,;\,:,". ., . '. ., a AIRY ' . " .w col 1i l. r , 5 I .I ri . ,,, _ i �� N Mob 5 ' Zia L-nI rltal.. a / . 1 . I 1 2 • tit '. ..af all n 1 on NE A _ H ..41 - S's war;Eli I I 1 1 I i is"; SO Two- I � I:. 11111111111', MODE --7--. -. .7 .r---7.- _ I 1 A I N o .�aawbu3 Al pa;oublsaQ as UM* ZUIZ da ut am a;o6a.66v aooldoa •£ •a;aa.3;s no uo W O Ip 41n0 143200 of14auo0 •z at a;au;s no uo vro pug; ulwnvq bugs!as awwaa •t , IN — li4 1 1$ a c0'd SSS:. 53 nnN1S=Nnp TTCT C7Q 2TQ PT .2T CRRT-4.01-cam 1995 STREET RECONSTRUCTION & IMPROVEMENT HEARING JANUARY 23, 1995 ATTACHMENT A NAME ADDRESS COMMENT Gordy Rasmussen 4-Plex on Olinda Opposed in his area, streets are ok, low Mark Powell 5698 Stagecoach traffic . g Wanted to know how much Jack Doerr taxes will go up. i 4520 Ti. 5 In favor, need it now, will cost more in future, Alan Goslin favors concrete curbs . 5554 O'Brien In f vor, happy ppy the City Don Fowler gave one year warning. 5851 Oldfield Favors r -surfacing over reconstruction, opposed to concrete curbs, wants Mary Buckley 5860 Oldfield speed bumps . Opposed, will increase valuation, front foot 14 Zvi 3 cost for Commercial Art Edlund property may be less . Oldfield Ct Are costs of street Di Dean Harba maintenance going up? 06)01' C'" u .. . _ , y 14401 U. 56th St. avors re-surfacing over recons r — o os Paul Balough 5810 Olene to concrete curbs . Wants front foot assessment because he only owns 18 .5 front feet Sandy Boettcher of a townhouse. 5857 Olinda Leave out Olinda & Olene, Kathy Gilbert low traffic, streets ok. 14241 56th St Qppose because on a low raffic- cul - de - sac . Feels City should have a written assessment code and sent letters to every Margaret Murphy 5876 Oldfield City resident . In _favor, will cost more in future. Would surmountable concrete Amy Lowe curb cost less? 5952 Oldfield In .fayps, will cost more in future. Concern re: frontage road design Phil Parricino 5654 O'Brien changes. In tauar-7 but wants better street maintenance in future. Bob Zachowski 14261 60th St In favor, concerned re: MNDOT design delays . Ray Reinhardt 5800 Olinda Opposed to Olinda, low traffic, street ok. Charles Huenich 14285 SSt-h St ifa rr, c, will cost more in future. Tom Stanke Not in Area. Opposed to less than 100% assessment because he paid 100% for his street & curb. Letters Received: William Casperson 14331 57th St Joe Carufel 14625 57th St Opposed. In favor, wants concrete curbs . Petition Opposing Reconstruction on Olene & Olinda Received From: Gordy Rasmussen 4 Plex Owner Ray Reinhardt 5800 Olinda Elaine Reinhardt 5800 Olinda Lloyd Zoliner 5835 Olinda Phillip Buck 5836 Olinda Gwen Buck 5836 Olinda Sandy Boettcher 5857 Olinda Ann Ostendorf 5871 Olinda Stan Ostendorf 5871 Olinda John McKeever 5896 Olene Charles Simonet 5888 Olene Kathy MacDonald 5810 Olinda Byron Nelson 5834 Olene Marie Foley 5872 Olene Jeanne Shoemke 5814 Olene J. Michael Dvorak 5898 Olinda Ron Buschman 5862 Olinda Mark Bonse 5817 Olinda Sue Roettger 5858 Olene James Beyer 5802 Olene Laura Randall 5804 Olene Terri Meister 5806 Olene 122019 U/0!$ leer- 4)C1 • Lo ✓ i - she Ss AGENDA CITY OF OAK PARK HEIGHTS MONDAY, OCTOBER 30, 1995 -- 7 : 00 P.M. 7 : 00 AGENDA I . Assessment Hearing - 1995 Street Reconstruction and, Improvements Enclosure 1, 1A, 1B, 1C, & 1D 1 . Resolution 95-10-46 - A Resolution Ordering 1995 Street Improvements Enclosure 1E 2 . Resolution 95-10-47 - A Resolution Adopting Assessment on 1995 Street Improvement Project Enclosure iF Adjournment : - o,, D °` wok u'R,isan • uk 1F 7 %;?, •e �Q rg� M� b C7�G�S° l,Q� ,1 "- `�" n `e c Ce r\GK- ./\ iic 0-n �Z41 is Oft W (eQ,G/v c - O taa t' TD alti�1 � iuv kJ. 110 - 12 6 jLc 6 "6 (% 057 .'/.- aV 44— c _ ;iov. a7 fXz e--- 7 Z d„y r4" hc' � a,d//s'/ 5 5 4/ y i sc* bh p C`---,% e fc, s Ar G,, _ ` fc ak-e 7k-k.e emcee 2 C SO4) • — m ' —te e W h ilea le,G6 a/� L(� �Vri !n �/ lit(/Yh [' G4/1-‘- -C_.Q 7. „..ems, 'rG;Ue) 'Lela=c -frIzt C�t a- lr s Con4a Ct.,„6_ �c Qo Z.fc < e42-40-i ( ) ,}0-qk tecuo eam cr,p1 ,n„„ „.-yiv - ti/ �v, `&jye-du-( — agor , Cdr , - \dttl ate _ n • Enclosure 1B MEMO Date : October 26 , 1995 To : Mayor & Council From: Mike Robertson, City Administrator Re : Street Reconstruction Assessment List The list of all properties along with their proposed assessment is as follows . All residential dwelling units $2, 645 . 00 Commercial Property (PIN#) Owner Location Amount 60004-4000 Robert Browning Routson $8 , 506 . 62 60004-4200 VFW Post #323 VFW $1, 194 . 75 61339-2000 Florence Frances , Oak Park Plaza $7, 965 . 00 60004-3700 Florence Frances Napa Building 61401-2300 JLC Corporation $ 955 . 80 �t. IJ-L .X. M6k(LC U(k7`"`e U(i Total Commercial Assessments fi 18 . 5,2 . 17 2 (6,U = 240 �,"�� Total Residential Assessments $634 , 800 . 00 Total Assessments $653 , 422 . 17 I) 330, 000 -t- Q cost G)/ Enclosure 1 MEMO Date : October 26 , 1995 To : Mayor & Council From: Mike Robertson, City Administrator Re : Street Reconstruction Assessment Public Hearing I have enclosed several items for the public hearing. As of today (Friday morning) I have received no objections and no applications for deferment of assessment . A copy of the Notice of Hearing received by all the residential properties in the project area. (Enclosure 1A) A copy of the list of proposed assessments . (Enclosure 1B) A copy of the City Engineer ' s letter in which he discusses the interest rate on the assessments . (Enclosure 1C) A copy of a letter from the City' s bond consultant Juran & Moody in which he recommends some guidelines for determining interest rates . (Enclosure 1D) A copy of Resolution 95-10-46 ordering the improvement . (Enclosure 1E) A copy of Resolution 95-10-47 approving the assessment . (Enclosure 1F) Council has the authority to decide whether to order the assessment, what interest rate to charge, what term (number of years) the assessment would run, and how long people have to pay the whole thing off without interest . As the City Engineer ' s letter notes, the assessment was originally planned to run 10 years at an interest rate of 7 . 00 percent, and that ' s the way the proposed assessment resolution is written. Washington County would like to receive assessments for next year by November 30 , 1995 , so I would recommend that people be given until November 27, 1995 to pay their assessment without interest . They would pay right at City Hall . The motion to approve the assessment under the current proposed terms would be; "I move we approve Resolution 95-10-47 Adopting Assessment/Q/1 the 1'9:5 Improvement P ject for a total of $653 , 422 .•0a1, for a term of 10 years at an interest rate of 7 percent . Said assessment may be paid in full without interest at City offices if paid by November 27, 1995 . , Enclosure 1D JURAN & MOODY, INC. Investment Securities Since 1939 ltil 400 North Robert Street- Suite 800 I N C Saint Paul, Minnesota 55101-2091 Telephone 612/224-1500 Toll Free 1-800-950-4666 Telecopier 612/224-5124 October 4, 1995 D1E @ [E OWE .- OCT 5 1995 I • Mike Robertson C { • i Administrator ' ;j; City Hall P.O. Box 2007 Oak Park Heights, MN 55082-2007 RE: ASSESSMENT INTEREST RATES Dear Mike: As per our telephone conversation this morning, this letter is intended to give you some guidelines on determining interest rates on assessments. As I mentioned, being the financial advisor to well over 200 cities in Minnesota, we feel that over the last couple o0f years, over 90% of the cities tend to assess an 8.00% interest rate on most assessments. The justification for this is that it is more fair to all citizens if they are assessed a standard rate of 8.00% regardless of whether you sell bonds at 5.00% or 7.00%. If interest rates on the bonds go over 7.00%, then I believe most cities would adjust their assessment rate upward in accordance with the bid on the bonds. For those cities that assess at an interest rate today that is less than 8.00%, it is typically done at an interest rate approximately 1.00% to 1.50% over the rate of financing rounded upwards to the nearer one- a percent. The cities t at use this type of procedure are typically second and third ring suburbs that have used this policy since day one. If you have any questions, please feel free to call. � , s_ Very ulyyo rs, , U R,'N& OODY, P C. �i'' 'x � � 0 /b - -Steven . att•on Vi e esident SJM/eh j Saint Paul, MN — Minneapolis, MN — Houston, TX — Clearwater, FL '10/30/95 14:40 '$612 426 5004 TA TGES, REDPATH Q 002 TA UTGES, REDPATH & CO., LTD. CEH1IFIED PUOLIC A;;CCUNTANTS October 30, 1995 Mike Robertson, City Administrator City of Oak Park Heights 14168 North 57th Street Stillwater, MN 55082 RE: Special Assessment Interest Rates Dear Mike: As you requested, I have prepared cash flow schedules analyzing the impact of chanizes in the special assessment interest rate on property taxes for the 1995 Bonds. Attached are four schedules based on an assessment interest of 8.0%, 7.5%, 7.0% and 6.5%. A summary of future property taxes for the S I I A 10 G. O. Bonds or 1995 at each interest rate is as follows: 140,000 S«v�� .n,n s. dielli" r,,,z.,,,,, 1 s, o o a c.�� Ste'Per d)in Year 8.0% -7.5% 7.0% 6.5% \ Resolutt n 1997 $59,000 $61,000 S63,000 $66,000 $61,000 \° `1/.7 199g 59,000 61,000 63,000 66,000 61.000 ✓ ' '5 1 999 59,000 61,000 63,000 66.000 61,000 A N 2' 2000 59,000 61,000 63,000 66,000 61,000 2001 59,000 61,000 63,000 66,000 62,000 y\\t 2002 59,000 61,000 64,000 65,000 62,000 2003 59,000 61,000 64,000 65,000 62.000 I d. 2004 59,000 62,000 63,000 65,000 ' 62,000 2005 60,000 62,000 63,000 63.000 62,000 Total $532,000 $551,000 $569,000 $588,000' $554,000 ,/ 4/ i_. • . / . i ; , d f. e-, ' ----.__ - \ u,66,A. a/A/nutty( -e_ezii+eavt- -r4- ci, F 4 7 4810 White Bear Parkway • White Bear Lake. Minnesota 55110 • 612!426-7000 • FAX/426-5004 - Member of HL?. Intarnatinnal 10/30/95 14:40 2T612 426 5004 TAUTGES. REDPATH Q10d3 Mike Robertson, City Administrator City of Oak Park Heights Page 2 When the bond issue was packaged, it was anticipated that the principal amount of assessments would total $638,331. However, as you indicated, the actual assessment principal amount is $653,422. The attached schedules were prepared based on the updated amount. If you have any questions, or need additional information, please call mc. Sincerely, TAUTGES, REDPATH & CO., LTD. David J. Mol, CPA DJM/clg • 10/30/95 14:40 V612 426 5004 TAUTGES. RED PATH 01004 v — t1 h — M so t� v1 < v hO O b O K7 ,- — oo O0 00 CO CO CO V. en. 1/4O N o M sq 00 CI E r1 N N r�1 N <11 - — v1 X .0 v V1 y J R 4.1 U ^— y '° 0 M 4n — t~ N -r v1 O Q C C 0 ° 0 N v 44 n- r, o N o en '0 CO b O n s... K O 0- t. C\ � e! 00 M V L V r t'- N- t� t: r-7 'o ND --• 0▪• 7 CA y vi w` .r: O V- O O O 0 4 0 0 0 0 0 0 0 tp v1 O. 'C C' N n' Q 00 O O O 00 C 'et ',Cr S.0. 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Ot C' a 0\ o V O O O O V O O o — W , Fn R v c, 0\ a 0, 0, 0 0 0 0 0 0 0 0 0 0 0 o ,", ° oc en }• N N C4 N N Ni N CI CI Cl N Z Bonestroo,Rosene,Anderlik and Associates,Inc.is an Affirmative Action/Equal Opportunity Employer BonestrooOtto G.Bonestroo,P.E. Howard A.Sanford,P.E. Michael C.Lynch,P.E. Brian K.Gage.P.E. Robert W.Rosene,P.E.' Keith A.Gordon.,P.E. James R.Maland,P.E. F.Todd Foster,P.E. RoseneJoseph C.Anderlik,P.E. Robert R.Pfefferle,P.E. Jerry D.Pertzsch,P.E. Keith R.Yapp,P.E. Marvin L.Sorvala,P.E. Richard W.Foster,P.E. Scott J.Arganek,P.E. Douglas J.Benoit,P.E. Anderlik & Glenn R.Cook.P.E. RobertOC.RU sek,A.I.A. Mark R RolfsnP.Erson.P.E. Cecil lo D. ,F E.Gustafson,P.E. Thomas E.Noyes,P.E. Jerry A.Bourdon,P.E. Mark A.Seip,P.E. Kent J.Wagner,P.E. Associates Robert G.Schunicht,P.E. Mark A.Hanson,P.E. Gary W.Morien,P.E. Paul G.Heuer,P.E. Susan M.Eberlin,C.P.A.• Michael T.Rautmann,P.E. Paul J.Gannon,A.I.A. John P.Gorder,P.E. Engineers & Architects •Senior Consultant Ted K.Field,P.E. Daniel J.Edgerton,P.E. Dan D.Boyum,P.E. Thomas R.Anderson,A.I.A. A.Rick Schmidt,P.E. Jeffrey J.Ehleringer,P.E. James R.Rosenmerkel,P.E. Dale A.Grove,P.E. Joseph R.Rhein,P.E. Donald C.Burgardt,P.E. Philip J.Caswell,P.E. Lee M.Mann,P.E. Thomas A.Syfko,P.E. Mark D.Wallis,P.E. Charles A.Erickson Frederic J.Stenborg,P.E. Miles B.Jensen,P.E. Leo M.Pawelsky Ismael Martinez,P.E. L.Phillip Gravel,P.E. Harlan M.Olson Michael P.Rau,P.E. Karen L.Wiemeri,P.E. Agnes M.Ring September 27, 1995 Thomas W.Peterson,P.E. Gary D.Kristofitz,P.E. James F.Engelhardt Enclosure 1C Mr. Michael Robertson City of Oak Park Heights 14168 57th St. N Oak Park Heights, MN 55082 Re: 1995 Street Reconstruction Our File No: 55113 Dear Mr. Robertson: Enclosed please find a photocopy of our worksheets showing the proposed assessment roll for the subject project. You will note that we are recommending that the assessment rates be those which were established for the improvement hearing. The total amount of the assessment roll is $653,422.17, which would be assessed over a 10 year period with an interest rate of 7.00 percent. As we had discussed, the City Council may want to lower the interest rate to 6.50 percent because of the favorable rate obtained for the improvement bonds. --.-- If you have any questions on this matter, please do not hesitate to call. Very truly yours, BONESTROO, ROSENE, ANDERLIK& ASSOCIATES, INC. Josep C. Anderlik JCA:gs cc: Mark Vierling 2335 West Highway 36 • St. Paul, MN 55113 • 612-636-4600 Enclosure 1F EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF OAK PARK HEIGHTS, WASHINGTON COUNTY, MINNESOTA HELD: October 30, 1995 Pursuant to due call and notice thereof, a special meeting of the City Council for the City of Oak Park Heights, Washington County, Minnesota was duly held at the City Municipal Building within said City on the 30th day of October, 1995, at 7 : 00 o' clock p.m. The following members were present : Mayor: Barbara H. O'Neal Councilperson: Mark Swenson Councilperson: David Schaaf Councilperson: Janet Robert Councilperson: Dean Kern, Sr. The following members were absent : None Member introduced the following Resolution and moved its adoption: RESOLUTION NO. 95- /O - 4/7 CITY OF OAK PARK HEIGHTS RESOLUTION ADOPTING ASSESSMENT ON 1995 STREET IMPROVEMENT PROJECT WHEREAS, pursuant to Notice duly given as required by law, the City Council has met, heard and passed upon all objections to the proposed assessment for the Street Improvement Project of 1995 and has amended such proposed assessment as it deems just . NOW, THEREFORE, BE IT RESCLVED by the City Council for the City of Oak Park Heights, Washington County, Minnesota as follows : 1 . Such proposed assessment, a copy of which is attached hereto and made part hereof is hereby accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein is hereby found to be benefited by the proposed improvement . 2 . Such assessment shall be as follows : a, The assessment shall be payable in equal annual installments extending over a period of 10 years, the first of said installments to be payable with the general (p5W taxes for the year 1996, collectible with such taxes during th year 1996 . b. To the fi st installment shall be added interest at the rate of % per annum on the entire principal amount of the assessment from the date of this Resolution until December 31st of the year in which such installment is payable . To each subsequent installment, when due, there shall be added interest for one year at said rate on the unpaid principal amount for the assessment. c. The owner of any property so assessed may, at any time, prior to the certification of the assessment or the 1st installment thereof to the County Auditor/Treasurer pay the whole of the principal amount of the assessment on such property with interest accrued to the date of payment to the -City Treasurer except that no interest shall be charged if the entire assessment is paid within thirty (30) days from the date hereof; and such property owner may, at any time, prior to November 15th of any year, pay to the County Auditor the entire principal amount of the assessment remaining due within interest accrued to December 31st for the year in which said payment is made. 3 . The City Administrator shall forthwith transmit a certified duplicate of this assessment to the County Auditor to be extended on the tax list at the County. Whereupon, a Motion for the adoption of the foregoing Resolution was duly seconded by Member and upon a vote being taken thereon, the following voted in favor thereof : Mayor: Barbara H. O'Neal Councilperson: Mark Swenson Councilperson: David Schaaf Councilperson: Janet Robert Councilperson: Dean Kern, Sr. And the following voted against same : None. Whereupon said Resolution was declared duly passed and adopted. 7 Z vr_c i- x3. 22 aa. 71 .3o.-77 /Kr") / 30 ' g X /2-O m o itWzs X /2 ' ' C- /1 l ''4 c .5 (ec-f)\,4-0 3 (009 .60 ,z( c), ,%0 out,-z _ ,,■20 I , -• : V cuytji , 1r' . - 2,U (o Enclosure lE EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF OAK PARK HEIGHTS, WASHINGTON COUNTY, MINNESOTA HELD: October 30, 1995 Pursuant to due call and notice thereof, a special meeting of the City Council for the City of Oak Park Heights, Washington County, Minnesota was duly held at the City Municipal Building within said City on the 30th day of October, 1995, at 7 : 00 o'clock p.m. The following members were present : Mayor: Barbara H. O'Neal Councilperson: Mark Swenson Councilperson: David Schaaf Councilperson: Janet Robert Councilperson: Dean Kern, Sr. The following members were absent : None The meeting was held pursuant to a Resolution adopted September 25, 1995 calling a public hearing on the proposed 1995 street improvement project within said City, as more particularly described in the Notice of Public Hearing ordered at said meeting, a copy of which is annexed hereto. The City Administrator presented the Affidavit showing due and proper publication and mailing of the Notices of Hearing and the Mayor announced that the Council would hear all persons who cared to be heard for or against the improvements as outlined within the Notice of Hearing. All persons present were afforded an opportunity to present their views and objections to the making of said improvements, and no objections were presented except as follows : See Attached. Member introduced the following Resolution and moved its adoption: RESOLUTION NO. 95- /b CITY OF OAK PARK HEIGHTS RESOLUTION ORDERING 1995 STREET IMPROVEMENTS WHEREAS, after due call and Notice of Public Hearing on the construction of the 1995 Street improvement Project for the City of Oak Park Heights, Minnesota, hearing on said improvements was duly held and Council heard all persons desiring to be heard on the matter and fully considered same . NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Oak Park Heights, Washington County, Minnesota as follows : 1. As advisable, expedient and necessary that said improvements as described in the Notice of Hearing thereon be constructed, and the same are hereby ordered made. Whereupon, a Motion for the adoption of the foregoing Resolution was duly seconded by Member and upon a vote being taken thereon, the following voted in favor thereof : Mayor: Barbara H. O'Neal Councilperson: Mark Swenson Councilperson: David Schaaf Councilperson: Janet Robert Councilperson: Dean Kern, Sr. And the following voted against same: None. Whereupon said Resolution was declared duly passed and adopted_ Enclosure lA CITY OF OAK PARK HEIGHTS NOTICE OF HEARING ON IMPROVEMENTS AND ASSESSMENTS FOR STREET RECONSTRUCTION AND IMPROVEMENTS OF 1995 PROJECT TO : ADDRESS : PIN(S) : TIME AND PLACE Notice is hereby given that the City GENERAL NATURE OF Council of the City of Oak Park Heights, IMPROVEMENTS : Minnesota, will meet in City Hall in the City of Oak Park heights, Minnesota, on the 30th day of October, 1995 , at 7 : 00 o ' clock p .m. to consider objections to the construction of the following improvements and assessments for the Street Reconstruction and Improvements of 1995 Project, heretofore ordered by the City Council . NATURE OF IMPROVEMENTS : The Reconstruction of streets, replacement and or repair of water and sanitary sewer lines and construction of storm water drainage systems and related improvements thereto. ASSESSMENT ROLL The proposed assessment roll is on file OPEN FOR INSPECTION: with the City Administrator and open to public inspection. AREA PROPOSED The area proposed to be assessed TO BE ASSESSED: consists of every lot, piece or parcel of land benefited by said improvement , which has been ordered made and is as follows : All of that real property located on either (both) side (s) of the following streets as located in the City of Oak Park Heights : Oldfield Avenue No. , Olinda Avenue No . , Olene Avenue No. , O'Brien Avenue No . , 55th Street No. , 60th Street No. (Between Oakgreen and Oren Avenue) , Oidfielc. Coin O,a St . No. , (West of Osgood-County Rd. . 67) , 55th Street No . , (West of Osgood- 1 County Rd. 67, all and east of Osgood- County Rd. 67) , 56th St . No. , 57th St . No . , Upper 56th St . No . , Oren Avenue, Omaha Avenue, Upper 56th St . Court, all west of Osgood Avenue (Map attached for reference) , in the City of Oak Park Zyp prois ," Heights, Minnesota. TOTAL AMOUNT OF The total a --proposed to be assessed PROPOSED ASSESSMENT: is $653 , 422 . 17 . _----- ------ WRITTEN OR Written or oral objections will be ORAL OBJECTIONS : considered at the hearing. COUNCIL ACTION: Action by the City Council may be taken adopting the assessment at the hearing on October 30 , 1995 . RIGHT OF APPEAL: An owner of property to to be assessed may appeal the assessment to the district court of Washington County pursuant to Minn. Stat . 429 . 081 by serving notice of the appeal upon the Mayor or Administrator of the City within 30 days after the adoption of the assessment and fil ..na such notice with the district court within ten days after service upon the Mayor or Administrator. LIMITATION ON APPEAL: No appeal may be taken as to the amount of any assessment adopted by the City Council unless a written objection signed by the affected property owner is filed with the Administrator prior to the assessment hearing or presented to the presiding officer at the hearing. All objections to the assessments not received at the assessment hearing in the manner prescribed by Minn. Stat . 429 . 061 are waived, unless the failure to object to the assessment hearing is due to a reasonable cause . DEFERMENT OF Under the provisions of Minn. Stat . ASSESSMENT: 435 . 193 to 435 . 195, the City may, at its discretion, defer the payment of assessments for any homestead property owned by a person 65 years of age or older for whom it would be a hardship to make the payments . The procedure for applying for such a deferment will be established by Resolution of the City 2 Council adopted prior to the Public Hearing. A copy of the Resolution is available upon request at the Office of the City Administrator. SPECIFIC AMOUNT TO The amount to be specifically assessed ASSESSED: against your par r 1D -apiece, or parcel of land is 52 , 645 . 00 . " PREPAYMENT: People have the right to prepay the entire assessment to the Treasurer of the City until the assessment roll is certified to the County Auditor and after certification of the County Auditor, prepayments of the entire amount remaining due may be made to the Treasurer at any time prior to November 15th of any year provided that the installment and interest in process of collection on the current tax list shall be paid to the County Treasurer and the remaining principle balance shall be paid to the Administrator. NO PARTIAL PAYMENT: The City Council has not authorized the partial prepayment of assessments prior to certification of the assessment or the first installment thereof to the County Auditor. PREPAYMENT WITHOUT No interest shall be charged if the INTEREST, OR WITH entire assessment is paid within 30 days INTEREST TO from the adoption of the assessment END OF THE YEAR: roll . At any time prior to November 15 of any year, the owner may prepay to the Treasurer the whole assessment remaining due with interest accrued to December of the year in which the prepayment is made . INTEREST RATE : If the assessment is not prepaid within 30 days from the adoption of the assessment roll , interest will accrue on the assessment at the rate of 7% . Interest accrues from the date to be specified in the resolution levying the assessment , but not earlier than the date of such resolution. 3 AUTHORITY: The Council proposes to proceed under authority granted by Chapter 429 M.S .A. Such persons who desire to be heard with reference to the proposed improvements or assessments will be heard at this meeting. Written or oral objections shall be considered. DATED: OCTOBER 12, 1995 . BY ORDER OF THE CITY COUNCIL // / chael Robertson City Administrator 4 • 10/30/95 14:40 $`612 426 5004 TWTGES. REDP.TH 1;21002 TA UTGES, REDPA TH & CO., LTD. CEH11FJED PUOLuC A CCUN ANT5 October 30, 1995 Mike Robertson, City Administrator City of Oak Park Heights 14168 North 57th Street Stillwater, MN 55082 RE: Special Assessment Interest Rates Dear Mike: As you requested, I have prepared cash flow schedules analyzing the impact of changes in the special assessment interest rate on property taxes for the 1995 Bonds. Attached are four schedules based on an assessment interest of 8.0%, 7.5%, 7.0% and 6.5%. A sunzmaty of future property taxes for the $1,130,000 G. 0. Bonds of 1995 at each interest rate is as follows: /�- lrer 7. a a 7 � Year 8.0% •7.5% 7.0% 6.5% ' Resolution 1997 559,000 $61,000 S63,000 j $66,000 561,000 199R 59,000 61,000 63,000 r 66,000 l 61.000 1999 59,000 61.000 63,000 66.000 ! 61,000 2000 59,000 61,000 63,000 66,000 61,000 2001 59,000 61,000 63,000 66,000 62,000 2002 59,000 61,000 64,000 65,000 I 62,000 2003 59,000 61,000 64,000 65,000 62.000 • 7004 59,000 62,000 63,000 65,000 62,000 2005 60,000 62,000 63,000 63,000 ` 62,000 Total $532,000 $551,000 $569,000 $588,00• `.,$554,000 ,\ 4810 White Bear Parkway • White Bear Lake. Minnesota 55110 • 612/476-7000 • FAX/126-5004 • Member of HL?. Internarinnal 10/30/95 14:40 V612 426 5004 TAUTGES, REDPATH Cdj003 Mike Robertson, City Administrator City of Oak Park Heights Page 2 'hen the bind issue was packaged, it was anticipated that the principal amount of assessments would t.tal 638 1. However, as you indicated, the actual assessment principal amount is $653,422. e attached schedules were prepared based on the updated amount. - ve any questions, or need additional information, please call mc. Sincerely, TAUTGES, REDPATH 8z CO., LTD. • David J. MoL, CPA DJM/clg 10/30/95 14:40 $612 426 5004 TAUTGES. REDPATH a 004 v _ v N H en V. N o rte••, - 10 0o 00 00 00 00 co 00 .o m r `S ci r.1 r' .-, � o v1 N N N c+1 r1 cl x J — L' '5 eJ CA -,e. •• O O O C O 0 0 N C7 64 N. en C h O en b 00 C) en N= O t-... O0 •u e t` t e n h r ,o w o p L Q 49 y WI CI h Q� C1 N „t 00 C O O C C 0 0 0 V vi a •n = d Q O C h N p 00 00 00 ..7 cr. ot• 00 r•j N N V b •C C T. G4 N tan u1 h v v en en N td �� E .n 0 -- g qC y •,, N M 00 'O r•''. O h yr (�N�'' 0` G O O O b O •�, TS G. 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U N C .E N vi 10 N 00 01 0 — N en e! to 10 t~ 00 01 O = E •> 101 01 OS OS 0, 0. 0000000000 — W K. tQ y 0 C1 C1 O1 01 01 0 o O O Q O 0 0 0 0 0 y `V 00 H >., N N N N N N N CI Ni N N z < C Cl." � -z-( �� 161/a- HOPSe i a( -Szk -rim tv1 c�� 4 100 (-11112 a IA Atnt wiat:tittetA/w0 25- vs To- , a Vie. n Ce 1 MEMO U . OUA �,�C Cl sivuo Iu��k 5 ewL1 7. Patme t Conde-hen rnde� [fir) ��� CC, C� 11' 5. Date : January 13 , 1995 Ofle vri-1 0 To: Mayor, Council, City Administrator & City Engineer From: Janet Robert, Councilmember Re : City Wide Street Reconstruction Program I would like for the City Engineer to be prepared to answer the following questions regarding the City-Wide Street Reconstruction Program at the Council meeting of January 23 , 1995 . Criteria: What precisely are the criteria used to select streets for reconstruction phases? How did you select streets? Did you develop a comprehensive rating system with clear cut criteria (i .e. drainage problems, cracks, age, boring results, deflection testing results, usage, projected useful life, etc . ) and a list of each street section and how it meets that criteria? Where does each pI4 -611 street section stand on the Street Life Cycle? 7e;fin`l 00,10 I read the report on testing of roads, but I do not see a direct i,b),/„071 correlation between those results and selection of streets for �� �� Phase A. It seems that Phase A is too large, encompassing streets .00/1"' obviously in need of repair and those which are fig novv Z , s 0'«' >. (;.,,,t phase /} s m Sztc,`e2 Timetable: Why is the entire reconstruction program to be done over such a short timetable? ' Can it be extended over a longer period of time . These questions should be answered in relation to the above criteria. For example, are all the streets in this program going to be cracking up in just seven years? My concern is that the shorter the timetable the higher the borrowing costs, because we have less flexibility in raising construction funds from tax levies . For every dollar in borrowing, the overall costs increase by 48% ! I have been told that each phase must be a minimum size to maximize the cost savings in the bidding process . What is that size? Concrete Curbs & Gutters: How much of the cost of the entire reconstruction is attributed to concrete curbs? How much will the City save if it uses asphalt instead of concrete curbs and gutters? What are the verifiable engineering and cost benefits of using concrete over asphalt . I have heard that the three reasons for using concrete are drainage, snowplow damage to asphalt curbs, and image . HIA.N. 'od∎ ;-ty of t),1€_ Isn't the snowplow damage greater on streets where snowplows go fast and isn' t this an area where due to the residential character and narrower streets the plows go slower? Do you have costs on the City' s replacement of curbs each year in the past due to snowplow damage? As for image, many people have complained to me that concrete curbs are not necessary for the modest image of their neighborhoods and would only increase their property value and corresponding taxes . CITY OF OAK PARK HEIGHTS A MINNESOTA STAR CITY January 12 , 1995 Dear Oak Park Heights Property Owner : A public hearing has been scheduled by the Oak Park Heights City Council for 7 : 30 P.M. Monday, January 23 , 1995 at City Hall, 14168 N. 57th Street . The purpose of the hearing is to discuss proposed street improvements in the area shown below. The proposed improvements are similar to those discussed at previous meetings on February 14 , 1994 and October 20, 1993 . Due to the nature of the improvements, it is proposed to assess a portion of the project cost to the abutting residential property owners on a lot equivalent basis . Your property is included in the project and is proposed to be assessed. The estimated assessment per residential lot Commercial, industrial, and high density property is proposed to be assessed on a front foot basis, estimated at $31 . 85/front foot . Approximately 400 of the project cost is proposed to be assessed to property owners . We encourage your attendance . Sincerely, CITY OF OAK PARK HEIGHTS Michael Robertson City Administrator 14168 North 57th Street • Box 2007 • Oak Park Heights, Minnesota 55082-2007 Phone: 612-439-4439 • Fax: 612-439-0574 MEMO Date : January 19 , 1995 To : Mayor & Council From: Mike Robertson, City Administrator Re : Street Reconstruction Public Hearing I have enclosed the following items for the street reconstruction hearing; Enclosure 5A - A copy of the letter sent to affected City property owners about this hearing; Enclosure 5B - The feasibility report and a revised project schedule from the City Engineer. Enclosure 5C - An examination of possible financing options from City Auditor Tautges, Redpath, Inc . O 'd m O O 7.i s 1 ----------- iii we L .Y c u .■ cw'Om - W "IA i %IIiII dill I -....---;-e----. alli Nor ii, 8 6-s . N 11111 M NM . Nov is v - 0 N. mod . J, - ow _,. Im rte. ,r," 111114011 itab©a a 14.) gill 102 ill 1 :P-, ail i , NW NM a I in r- ■S Vi■ 11 U1.... i ir, ■■Y e■ ■'i ' 0 ., u) --: . Q . ; EL MIA in, W ct u Omaha ve N. ..,;• ..:. I$ 1irn m w,,,,. . so 6 m PD. 1 _ w : " d O® �-3,,.. •., illk66*III 4 11111 A 0�X► �.. IN Av e N N ■! i■�■��' ■ ►� �4►� a'got . �® Olindd Avenue ■■� 4� z i''. Mai ant fivArinorpt. _ :,; 7T .,,, : w MI 4111111111110111111111110- 111 te Me� II',1,� Otdfield Avenue N. r 4 ~ LOIS o• n E---011 W w ' 111111111111111111111111111 Z w ice o Z Pm 1st lip En - . 4 m ' ~zW = w Ir �c7 ' . . x n v3 i BOAS,� I rn a V) �, / o O ,`; 194.96 Fee �� _ (n rn ' MIA Q 0 _ _-_-, cp-zi CF rig, Pief)-R, 4----/6 )-F-Ts : (kk. 72-k4u_ bcpcd V6 ap•-/QA -5-5-- --- -GI-A,Q_d-, et/cci,_ /1107- /All F741-tilo . ,4tu---/-- Al 0-hallitiLu.-47•65-7-N bu 0,1A (mi.& aY- --)--k,(14 ---1-7 rvu • c_ ; ciL 0),D .. rt,--a e-htebLr'e- - I/61JL- U)16-2 actwu It )00-- 0_, x cult A_LaLL Lt..k a4. 1 1ULcb_ d S . PiutAc ,-/-a_ _Q_ Luz_ eli mu-to tiL4 c --4,4,td-eAd7 b-7,, /0/1-/t4a: '%, ,kviA,t,t_ tikic- 77;01 /qs - /463-7 070ficit .•-L-4-- Z.4-. 7i9-Xe' ■11 //3)}ks- ' / 10-7-s-s-'12-)..c ,-go • I , ,, 4. 1--(---(k -- ' t'. 3AS-- '' / 4gd7--.Ts `°-2 .C4,Ais- i , --?_ _,,, s( . pc) / V 9r-,_ r,- ;- 91 1? fr---- 2 - P- - ----- --7•, : • /) 304S — itisoa, ow 550- si • , A 1,/ , (66\°-'I '.',- , //3 45- , /Li 786 bp_votr ,5-V-4 s 7( _ /L(11° /\t/t4---r- R.,-ra,-- L,;,,,,,, / _ o-cTi--- - /v-27)--- miff,. crri 6-- ( Y741 7 uilc---e- 5-s-711 E-7.- el) -- -'e,, Duvvbaan / - 30 -95- .)roili2 (44de,t, 3-5-Irst Ai. /)i s t - C t N A d t f\-6,3_1„,b 1 13 0 I et ) de-ziu Sag_itzg„tyy I 10 9.5 j _ I 1 • ENCLOSURE 11 MEMO Date : March 23 , 1995 To: Mayor & Council From: Mike Robertson, City Administrator Re : Street Reconstruction - Area A - Plans & Specs Approval Joe Anderlik will be bringing the Plans & Specifications for Area A Street Reconstruction before Council for approval on Monday. FEU tS-i d°d Sd.U i nl S L - . 20,6 CC (A,-,&c,i!.t.N_ 1 41'11/1 SeWOw b yo ke(A fir Ct 1.{��L 24- Z O‘7 ,,,I've 11 / • MAR-24-1995 09:45 NAC 612 595 9837 P.02/08 - ENCLOSURE 6 Kr Northwest Associated Consultants , Inc . j U R B A N P L A N N I N G • D E S I G N • M A R K E T R E S E A R C H 0/ , ,k,, . oi MEMORANDUM ,00,, p-5„,,s(9',. ,, TO: Oak Park Heights City Council v FROM: Dan Wilson DATE: 23 March 1995 RE: Oak Park Heights - Modification No. I to St. Croix Mall TIP FILE NO: 798.02 - 95.01 Attached is a draft TIP Plan Modification that will permit the City to use tax increments generated by the St. Croix Mall to pay for storm sewer extension and utility system repairs. .p/' 2o0 ecember .22 ath and Company report calculated these expenses at D co $736,200 that were not to be assessed. k-4.(1 �-0, ► ->1.'Th.e original TIF Plan had already provided for 4:',•�Ti worth : -: .- • . - '.1 cos.S �� � ,v The original plan did not describe the project area to include the area south of 57th street No , . ,,.�&' Therefore, the modification will permit the use of TIF funds on 56th treet No., 55th Street N. .1 Omar Avenue, Obrnen Avenue No. and Omaha Avenue No. A 0-.."--}75-6,1v, s 7 The approval process is as follows: 111,,V,- 01 *-etC,1 C* 1. City Council holds public hearing. 2. City Council adjourns. 3. MIA meeting called to order (your staff posted the required 3 day notice for an ERA meeting). 4. ERA considers resolution approving Modification No. 1. 5. ERA adjourns. 6. City Council reconvenes. 7. City Council considers resolution. We will prepare the final draft subject to any changes the Council would like to make. 5775 Wayzata Blvd. • Suite 555 • St. Louis Park, MN 55416 • (612) 595-9636•Fax. 595-9837 ENCLOSURE 13 rL•,nr,!r r.v ri„sN,r,Ame•/k,tnC ASSOrn,(Cs,1nr „.en ArrpmdOVe ACtruriipt/uif Oppprru.uty&ri Ic yer BonestrooB:cc,t rnu.PE r,,wara A .,,N•,,, E Mt.,1A,Pt.tt.1 C lyncrt.PC. 8rhv,K G.tge Pr Rosene Kt Alit ,. 7n,rnr Pr• KCItC A (Avow” PE J rr C$R Md!aruf.7f. Ke th R vlpp PE ��� Wsr'pt•r. A�drr llk.PE. Il,berr R Dfr rS!•r h•,PF: L•rry U Peruse" D0141•45 J 8,,,,,i).PE M..+ • ∎r•'v.r!n Pr Rich, 1 W hr,rt r Pf trot:1 ArgrreK."C Shrwn n ciustahnn,PE Anderlik & trl,.!.'":, -, ,•r rF. Oav18 C L01Cold.NI; KcruHan P Ana:•scn.PC C,enlm Ulmer,PE. •u,.`:'k Rooerr G Rusuk,Al A M,vk R RC:rS.PE. PPUI C, ,+eue,,PP. Associates r■r,,,r.•,• \..ye, Pr Jerry A 8uurcun,PC M.vR Se,O. John P GUraef•PE en;u �,hun!,hr,PE Mark A Harnun PI (t try W Vor�.en ?C Dan D Coyurn.PP M :'("If,.C.PA M thnrl' R,SUtmorsn Pr r.u,r 1 Gevnun,A A Jertrc'y 1 khtr,nger,PE Engineers & Architects i'.;,.,..,••',t.,tr.,nr Ter/K tletO.P.E. G,vtrt•r 1 tcrger:Or PC, Joienr R ,,re Mem,,,R Andy,.nit.A I A A ?it k Scrm dt.r'r Lee M Mdnn,Pr.. Condld Nurq,Vat,PP r+nlIp 1 C.,wr;l.:'t Cnerlc,A E nckson TnhmAS A Syrko rr Merk D WXIIS PC Leo M Pawt•hky r,Paprlf J Srcrmorg.PE Mdes 8 Jensen.P. ,♦Mari M OI,r,r1 Iitnael Martl,1e PE. I. Pr1IIIIp Grave; ^I Agnc,M Rrrkj April 20, 1995 MICrort P Rau PE Kam,L wlemt••.Pr Jamet f EngelnArnt I horrtas W Fir rr,un.Pt teary I) Kr,stoe!, Pr City of Oak Park Heights P.O. Box 2007 Oak Park Heights, MN 55082 Dear Council members: A resident living within this year's reconstruction project limits has raised an issue that needs to be considered by the City Council. In the past, residents have been allowed to connect discharge pipes for sump pumps, footing drains, and pools directly to the curb. The resident raising this issue wants to know if he will be allowed to connect his discharge pipe to the new concrete curb and gutter. It is our opinion that this direct discharge into the street not be allowed for the following reasons: 1. A concentrated direct discharge onto a street allows for is e.,to build up in the area during spring and fall, thus creating a safety issue. 2, If connected to the concrete curb and gutter, the pipes would be placed within the City's right-of-way and would cause future conflicts with any excavations, private utility installations, etc. within the boulevard area. 3. Water with contaminants in it that is directly discharged into the street has a direct route into the storm sewer-and consequently the downstream lakes and ponds. A solution to this situation is to allow the water to filter through an area covered with vegetation before it reaches the storm sewer system. Our recommendation to the City Council would be to decide that this type of discharge pipe must end at the property line which will allow the water to be discharged over land and filtered before it reached the streets and the storm sewer system. This would also alleviate any future conflicts created by allowing private discharge pipes on City property, as well as eliminating icy buildups in the street. If you would like any further information regarding this issue please do not hesitate to call. Yours Very Truly, BONESTROO, ROSENE, ANDERLIK & ASSOCIATES,INC. 2 f 6-(4 Carol Caron CC:lk 2335 West Highway 36 ■ St. Paul, MN 55113 • 612-636-4600 20'd '3SSt1 8 00W.SSNO9 TT2T 929 2T9 SS:OT S66T-02-170 ENCLOSURE I Bonestroo Bidder Total Base Bid 0 Rosene VIAnderlik& Address Telephone No. Associates Engineers&Architects City,State,Zip Fax No. St.Paul•Milwaukee ADDENDUM NO. 1 1995 STREET RECONSTRUCTION PROJECT �-� =_ FILE NO. 55113 OAK PARK HEIGHTS MINNESOTA n,rp 2 6 April 25, 1995 �V j Opening Time: 11:00 A.M., C.D.S.T. Opening Date: Friday, April 28, 1995 Addendum No. 1 The following portions of the specifications shall be modified as follows: 2105.4. METHOD OF MEASUREMENT: The bid item referred to as reclaim removal, subgrade excavation and reclaim placement shall be measured on the basis of lineal feet of street on which this procedure is performed. The work to be performed shall be as described in Section 2105.3. CONSTRUCTION REQUIREMENTS and shall be 35 feet in width. Measurement for reclaim removal, subgrade excavation, and reclaim placement of widths greater or less than 35 feet shall be converted to that width on a proportional basis. All streets have been surveyed and cross-sectioned at 50 foot intervals throughout the site. The cross sections are not a part of the bid plans, however they will be made available to the successful low bidder for their information and use in the construction process. 2116.3.1. CORE EXCAVATION: The first sentence should be modified to indicate a depth of 23 inches in lieu of 18 inches. BONESTROO, ROSENE, ANDERLIK & ASSOCIATES, INC. 2335 WEST HIGHWAY 36 ST. PAUL, MINNESOTA 55113 (612) 636-4600 55113a41.add Li 3onestroo,Rosene.Anderlik and Associates,Inc is an Affirmative Action/Equal o AA Bonestroo 9 pporrunrryE ploye Otto G.Bonestroo.PE. Howard A.Sanford.PE. Michael C.Lynch,PE. Brian K.Gage,P.E. Robert W.Rosene.P.E. Keith A Gordon.PE. Joseph C.Anderlik,PE. Robert R.Pfefferle.PE. James R.Maland.PE. Keith R.Yapp.P.E. Rosene Marvin L.Sorvala.PE. Richard W Foster.PE Scott D.Arganek PE. Douglas J.Benoit ts. n ri PE Anderlik & Richard E Turner,PE Scott J ArganeK.PE Shawn 0 Gustafson.P.E. David O.Losko[a.PE Kenneth P Anderson PE. Cecilio Olivier,P.E. Glenn R.Cook,PE. Robert C.Russek,A.I.A. Mark R.Rolfs,PE. Paul G.Heuer.P.E. Associates Thomas E.Noyes.PE. Jerry A.Bourdon,PE Robert G Schunicht Mark A Seip,PE John P Gortler,PE. Gary W. ,PE. .Mark A.Hanson.PE. Susan M.Eberlin,C.PA. Michael T Rautmann.PE. Paul J Gannon n.A EA Dan D.J Ehler PE. Engineers &Architects •Senior Consultant Jeffrey R.Rhein,Per.P.E. Ted K.Field,PE. Daniel J.ECgerton,PE. Joseph R.Rhein,P.E. Thomas R.Anderson.A.I.A. A.Rick Schmidt.PE. Donald C.Burgardt.PE. Philip J.Caswell,PE. Lee le M ,Mann.PE. Thomas A.S fko,PE. Charles a Erickson Y Mark D.Wallis,PE. Leo M.Pawelsky Frederic J.Stenbord.PE. Miles B.Jensen,PE. May 1, 1995 Ismael Martinez,PE Harlan M Olson L.Phillip Gravel.PE. Agnes M.Ring Michael P Rau.PE. Karen L.Wiemen,PE. James F.Engelhardt Thomas W Peterson.PE. Gary D.Kristofitz.PE. City of Oak Park Heights (} © a Q V E 14168 57th Street North (/ Oak Park Heights, MN 55082 MAY 4 Re: 1995 Street Reconstruction Project File 55113 Honorable Mayor and City Council: On Friday, April 28, 1995 bids were received by the City for the 1995 Street Reconstruction Project. There were six (6) plan holders who could have bid the work as the General Contractor, but only three (3) chose to submit bids as summarized below: Low Tower Asphalt, Inc. $995,280.83 #2 Valley Paving $1,055,611.65 #3 Danner, Inc. $1,112,686.31 The low bid submitted by Tower Asphalt, Inc. in the amount of$995,280.83 is based on doing the entire project in 1995 and is $118,720.00 below the Engineers estimate. The Alternate bid to do the second phase of construction in 1996 would add another$104,585.50 to the construction cost. The low bid received is very favorable and provides for substantial savings by doing all of the work in the 1995 construction season. Therefore, it is recommended that the contract be awarded to Tower Asphalt, Inc. in the amount of$995,280.95 which is the base bid amount not accepting the Alternate bid. We are enclosing six(6) copies of bid tabulation for the project for your information and file. Should you have any questions, please feel free to contact me at 636-4600. Yours very truly, BONESTROO, ROSENE, ANDERLIK & ASSOCIATES, INC. ei6.472,a_, d Cljuli Joseph C. Anderlik JCA:rb:enc 2335 West Highway 36 • St. Paul, MN 55113 • 612-636-4600 • Enclosure 13 Northern States Power Company Gas Utility St Saint 825 nice Paul, Minreet nesota 55117-5459 DATE: 5-12-95 PROJECT #: OPGR 57S AA8 APei =C'�TON - - "' Or nc NOF"rt�N -- ` S`"'=_ pOWC COMPANY • To: City of Oak Park Heights Mike Robertson pm © IEOWEO 14168 57th St. No. Oak Park Heights, Mn. 55082 MAY 15 AppliApplication is herb c=tion is y made for permission tc _ _ of plastic gas main in Oak Park Hgts. et ec st r_tio area. °'��_r g street reconstruction I.. Type of Utility - General Description Natural Gas Work tc be sca;cad 5-22-95 and c-.;,-t ete- by 11-1-95 Application approved: Application sutmitteb by: ..y: NORTHERN STATE'S POWE= COMPANY Jeffrey S. McGraw 229-2478 Data: GAS AREA R-2P7NSENZkFl E F M:, R1l{-,' • CITY OF dil _ : OAK cr 0 ,., .,4_,;;- --:,,, PARK HEIGHTS CONSTRUCTION NOTICE A MINNESOTA STAR CITY MaY 26, 1995 A tentative date of May 31st has been set for pouring the concrete curb, gutter, and aprons on Oren Avenue and 57th Street, East of Oldfield Avenue. The contractor has decided to curbs and the aprons simultaneous) pour the day curing period Y, so there will only be one 5- _- their driveways . when residents will not be allowed to use Y However, residents can front of their driveways during this curin k in the streets is outside of the area described above will re receive another memo in the near future , Residents their street. indicating the date for curb to be placed on All vehicles you will need to use during this 5-da be parked on a street other than 57th Street or yOren1Avenueuld Tuesday morning, so they can Avenue by Once the curb is placed and prepare to pour curb on Wednesday. cars next to the curb in front sprayed ed white, you may place not drive on your home. your do your new aprons for five days.Agail driveways ys subjected to early use by the homeowner will be replaced and the cost added to the homeowner's assessment. All residents may fill out the attached form to widen the ' driveway opening for the their the future. Please indicate which of side should be wider ide widened driveway nd b in how much. If you have further 3902 . It is CRITICAL that these forms be ire please returned c to my a 439y near the construction trailer, located on the corner of 57th Street and O 'Brien Y mailbox Ave. (by City Hall ) , no later than 7 : 00 a.m. , Wednesday, May 31st. If no form is returned for your by this time, we will simply match the flat opening existing driveway width. your Additional Notes : Please be aware that our street excavation process will cut off access to your driveway for approximately one day. Also, cars should not travel through the excavation area, as there may be some very rough roads. This is "a closed" zone and anyone entering it, does so at their own risk.ad Residents living on streets with storm sewer installations will have an additional day when they will not have access to their driveways . Please call me, know if you have s Carol Caron, at 439-3902 , and let me pecial needs during these times . If I am not in, please leave a message. Please also be aware that NSP owns all street lights within this project and will be replacing electric lines and moving light poles in the near future. This will cause some of the lights to be out of service. Please contact NSP at 779-3163 if further questions regarding this . You have Enclosure 10 MEMO Date: May 5, 1995 To: Mayor & Council From: Mike Robertson, Re : Street Reconstruction Administrator - Bids & Analysis I have enclosed (Enclosure 10A) a copy of a letter from Joe discussing the Street Reconstruction Bids and m aking a recommendation. Oe I have also enclosed a financial analysis of the Street Reconstruction Improvement for Area David Mol will be at the Council meeting M Monday nightdtota any questions about the analysis . nswer Steve Mattson and Tom Truzynski of Juran & Moody will also the meeting Monday night to discuss the bondin g process for this improvement . be at 1995 STREET HEIGH'TS, MN RECONSTRUCTION PROJECT FILE 55113 ENGINEERS ESTIMATE: $ 1,114,000 BID DATE: APRIL 28, 1995 BID TIME: 11:00 A.M. CONTRACTORS TOTAL BASE BID 1. CURB MASTER /�� ✓ e 2. BROWN & CIRSl - 3. ARCON CONSTRUCTION 4. C W HOULE CONSTRUCTION 5. BURSCHVILLE CONSTRUCTION 6. ASHBACH CONSTRUCTION 7. NORTHDALE CONSTRUCTION 8. VALLEY PAVING 9. DANKER `` 67 / , 6,5- 6.7a 0..3A — lO.MASTER ASPHALT i ■a C .3 �o 1V, — 11.PENN CONTRACTING 0TOWER ASPHALT 13.CONCRETE ACCENTS �i� , • 3 6 �qz- 14.KNIFE LAKE CONCRETE 15.SCHIELD CONSTRUCTION 16. 17. /7 18. id0-0X- /°--//% _._________________________ 19. lebu/ 20. irn1S 21. 22. 23. 24. I:\users\recept\bid-list 05/05/95 09:51 '$`612 426 500.1 TAUTGES. REDPATH Q002/005 4 Enclosure 10B TAUTGES, REDPA TH & CO., LTD. Cccr IFrp PUBLIC 4ccnL/Nr4Nrg May 4, 1995 Honorable Mayor and City Council City of Oak Park Heights 14168 North 57th Street Stillwater, MN 55082 RE: STREET RECONSTRUCTION FINANCING Pursuant to your request, I have updated the street reconstruction financin g plan as it relate Area A (south of Highway 36 and west of Osgood Avenue). This update i corporates the s to estimated construction costs based on the bid opening of April 28, 1995. Fctima Psi 21-Qtect 0cts The project costs for Area A are estimated to be as follows: Storm Suet Sewer Utility Reconstruction Extensions _ Rcp_ s Total Contractor Contingency @a 5% 97,718 $185,483 512,080 39 885 995.26 Subtotal 9,274 604 49.763 Engineer,legal,administrative Ca 25% 837,603 194,757 12,634 Total --400 48,690 1•�5,0 a 4 $1.047003 261.260 5243 447 $15.854 51.306.304 Proposed Financing The City engineer recommended the costs associated with storm sewer extensions repairs not be assessed. Additionally, the City council has previously decided against increasing and utility i repairs. storm sewer extensions and utility repairs must be financed ance witTherefore,istingre erveSts related to tax levies to finance storm sewer extensions and util • 4810 White Bear Parkway • White Sear Lake. Minnesota 55110 • 612/426-7000 • FAX/425-5004 • Member of HLS International 05/05/95 09:52 2'612 426 5004 TAUTGES, REDP1TH 00.1/005 Honorable Mayor and City Council Street Reconstruction Financing May 4, 1995 Page 3 The City engineer recommends assessments totalin_ $638,331 or street improvements and concrete curb/gutter. Eased on this t a roximate assessment to residential roe -°�� Sr per lot. umtng an interest rate of 8% and a 1 p property is 2,645 would be as to ows: Ye ssessment period, the annual assessment j PXN.Cd arr) 75% conezieze, t Year Pr � incipal Interest Total lGf 5f 1 $265 $212 $477 �$�"��r 2 265 190 455 .)3 265 170 435 �� ovipt 4 265 148 413 �" ? 5 265 126 391 V/i tc� 6 265 106 371 7 265 84 8 265 349 9 63 328 265 42 307 r,""Io 260 21 281 = z3/✓n° 73g 1Pe' Total 52,645 $1,162 53.807 =1 Z 'f-3' I//nr The remaining portion of the debt service is proposed to be repaid by property taxes. A schedule of existing and proposed bonded debt tax levies is as follows: - ‘„,%. \ 1995 Existing Improvement Vii, k,' Year Levies Bonds(1) Total 1995 525,000 $ - $25,000 0) 1996 25,000 - 25,000 1997 25.000 - 25,000 A 1998 25,000 67,000 92,000 1999 25,000 68,000 93,000 2000 25,000 69,000 94,000 2001 70,000 70,000 2002 - 71,000 71,000 2003 - 72,000 72,000 2004 - 73,000 73,000 2005 - 74,000 74,000 Total $150,000 5564 2 000 5714,000 (1)See schedule prepared by Jura„and Moody,Inc. I MEMO Date : June 26,, 1995 Mayor & Council From: Mike Robertson, Re: Street Reconstruction Administrator - Request for Payment No. 1 Tower Asphalt has submitted a request Tower is Asphalt has request quest for payment of This is o Engineering uest for payment . Carol Caron ofl' o15 . 75 . g has OK'd their request for payment . The total contract amount is amount will be retained as security8u0 job the the contract ob is finished. Enclosure A MEMO Date : September 27, To: Mayor & Council 996 From: Mike Robertson,Sod Complaints City Administrator After a while, listing everyone who called about their boulevard this week on an individual complaint form seemed a little ulevard Below is a list of everyone who called this week e who ' s complaint can be summed up as; "Why wasn' t my sod replaced! ! ?" All complaints have been referred to Carol Caron and she h as been trying to contact everyone who has called. 1 . Mrs . Smith 14372 57th Street 439-4437 2 . Thomas Radke 5819 Oldfield Ave 439-5234 3 . Josephine Lentz 14464 55th Street 439-5090 4 . Auldon Johnson 14523 57th Street 439-2523 5 . Gary Moody 5810 Oldfield Ave 439-8383 6 . Jim Philen 14618 Upper 56th Street 439-0699 CITY OF OAK PARK HEIGHTS ; Enclosure Al CITY OF OAK PARK HEIGHTS A MINNESOTA STAR CITY October 12, 1995 To : Property P y Owners in the Oak Park Heights Street Reconstruction Project Area Re : Assessment Notices for the Street Reconstruction Project I have enclosed an official notice of assessment for reconstruction project . The Assessment Hearing 30, the street 1995 at 7: 00 p.m. at Oak Park Heights will be Monday, The Assessment Hearing will be strictly for ghts City Hall . assessments . The Street Reconstruction Project is ed of finished at this point . If Project is considered resolved, please call Carol Caron at any problems that were not and she will call you to let resolved. you know how they leave a message problem will be Sincerely, Michael R..ertson City Administrator 14168 North 57th Street • Box 2007 • Oak Park Heights, Minnesota 55082-2007 Phone: 612-439-4439 • Fax: 612-439-0574 Enclosure 12 I�I Bonestro• � Rosene Owner: Cit of Oak Park Hei:hts, 14168-57th St.N., 1 Andean(• Oak Park Hts,MN 5508: Associate, Contractor: Tower As'halt,Inc., 15001 Hudson Blvd.,Lakeland,MN 55043 Date Janua 17, 1996 ngineers&Architects Bond Co.: .1P 72 r # 7223 Cobb, Strecker,Dunth &Zimmermann, 150 S.5th St.,#2000,MinneaDolis,MN 55402 CHANGE ORDER NO. 1 1995 STREET RECONSTRUCTION PROJECT File 55113 Description of Work Part A: Due to extreme wet conditions caused by weather and pool discharging,extra excavation work was required the south end of Obrien Avenue. This lump sum amount includes all time and materials required to complete the extra cor considered compensation in full for extra work performed by Tower Asphalt on Obrien Avenue. roc work k and is a Part B: Due to the discovery of substandard subgrade soils under the entire length of 56th Street North, it was necessary an extra one foot of core material and replace it with aggregate backfill material. This lump sum amount includes all time and material required to complete the extra work on 56th Street North and is considered compensation in full for this extra work performed b Tower Asphalt. by Part C: Due to the discovery of substandard subgrade soils in the cul-de-sac of Upper 56th Street Court and on Olene Avenue, the contractor was instructed to over-excavate the soft areas and place a greater depth of Class 5 gravel in order to build a solid gravel base. This lump sum amount includes all time and materials required to complete the extra work on Upper 56th Street Court an Olene Avenue and is considered compensation in full for this work. don No. Item Contract Unit Unit •uanti Total Price Amount Part A 1 Extra work on Obrien Avenue LS 1 2,308.50 2,308.50 Part B 2 Extra work on 56th Street North LS 1 18,314.62 18,314.62 Part C 3 Extra Work on Upper 56th Street Court and Olene Avenue LS 1 6,634.82 6,634.82 Total Change Order No. 1 -ADD $27,257.94 55113/co.wb2 1