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Home My WebLink About2005 [02] Feb 03 {Book 33} CITY Of ST. JOSEPH www.cityofstjoseph.com ~. St. Joseph City Council February 3, 2005 6:30 PM Lower Level Conference Room Administrdtor Judy Weyrens 1. Call to Order MdYor 2. Utility Extension Costs - St. Wendel Area Richdrd Còrlbom 3. Adjourn Councilors AI Rdssier Ross Rieke St. Joseph City Council Renee Symdnietz February 3, 2005 Ddle Wick 7:00 PM St. Joseph City Council Chambers . 1. Call to Order 2. Approve Agenda 3. Consent Agenda a. Minutes - Requested Action: Approve the minutes of January 6 b. Bills Payable - Requested Action: Approve Check Numbers 35301 - 35323 c. Transportation Priorities - Requested Action: Authorize the Mayor and Administrator to execute Resolution 2005-04 Accepting the Transportation Priorities as identified by the St. Cloud Area Planning Organization. d. Gambling License - Requested Action: Accept the Minnesota Lawful Gambling Application for Exempt Permit for the St. Joseph Volunteer Firefighters for an event to be held on April 22, 2005 at the La Playette. 4. Public Comments to the Agenda 5. 7:05 PM - Public Hearing, Request to vacate easement - Indian Hills Park Plat Summit Management 6. 7:15 PM - Monte Eastvold, Bonding needs for 2005 7. City Engineer Reports 8. Mayor Reports 9. Council Reports 10. Administrator Reports . \ 2.)" College Avenue North' PO Box 668 . Sdint. Joseph. Minnesotd )"6'374 Phone ,2.0,,6"72.01 Fd x ,2.0.,6,,0,42. . ST. JOSE'H CITY COUNCIL FEBRUARY 3, 2005 FOR THE OFFICIAL RECORD PLEASE SIGN YOUR NAME AND ADDRESS NAME ADDRESS !1 Ik I / / !jJ!¿ !~l L'~ Un I-V_ I. ~í I c' 5 -Aid ¡ IéJ\ fvb¡e:rol0 C:¡OB A.<:-"t-\~ AIJ£. #10 2. 4T - i¥kJD, MId S:\"il,)Y ,\1\\n~r ~~'}ÎÎj~ìf\ . 3. 3\ .w,n·~ ~fy^-\1 , , 4. 1(ì~{\ ~n~cJ tl-~_A~~ :)Q/&~~ 5. 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Cd - 000 0) Cl!ëñU.:g:gg¡ 0 1ií Q O.s:: Ü Q)Q)~ « 31:0c: 04;:: ° .s::CI!u.:J:J-:: g. ... Z .... "0 "C 0 GOo .- c: O.s:: <U L- <U "" Wen >- L- en c:""".- .....1 CI!.... O~-O-O E a.. :> """ 0 en en ... >- a. - 0 .0:: Õ 0 :J .... ._ :> .0:: .....::I: en <U a! E (.) = 0) 0 .5 0) Cl.:J ........ _ !!J. ãS..ê0 0 ~ ~ :;0.._ « Cl!Nc: lOCI! >.s::c.. a>a>¡ß ~ 1:1 Cl.W ° ° "0 C/ c: 3: 0>1:1 c: ():2: c: Cl.en.o.o ~ c: 0) 0 en « « c: -g .2 0 æ 00 ~ 1:1 00 0) 0) -gE E 1ií ¡g O)en-. ........ ::I::I1tí G> 0 'Uc: enEo:J:Jo (,) :> O¡..;. 0) () - --+> ... o en a.. .s::CI! 0:J_C:C:o___ :>Joo ~ ~ CI! UU(/) .a ö=~ ~Cl. 5 JenO()()Q) -ð' 00....:....:«, :> 0) Õ ;;;«<1:: ::I I{)~ :JX o....:en_.s::.s::.s::::I 00 :> 00 I- :> (/) ~ u. " :> a.. W C\I 00 « 00 I- I- I- ]) o o "" o ~ .!2. ~ x , . - '- Answers to questions (from letter dated August 15, 2001) on St. Joseph Sewer and Water . Proposal to St. Wendel Township 1. What are the roadway design requirements for the proposed service area? The minimum roadway width for rural street reconstruction accepted on previous St. Joseph projects is 28-feet wide pavement width. See attached typical rural street reconstruction detail. All new developments/subdivisions shall comply with the City of St. Joseph Subdivision Ordinance which requires urban streets (with curb & gutter) and a minimum of 32-feet pavement width. 2. Will urban storm sewer be required in the service area? Street reconstruction projects shall meet NPDES stormwater requirements. Existing drainage problems shall be addressed as part of street reconstruction projects as needed to ensure protection of property and for safety reasons. All new developments/subdivisions shall comply with the City of St. Joseph Subdivision Ordinance and Stormwater Management Ordinance. 3. What is the breakdown of SAC and WAC fees and what items are being paid from those funds? See attached Schedule of Proposed SAC and WAC 4. What is the current water and sewer user fees? See attached 2004 water and sewer rate schedule. . 5. Where is the current city limits boundary? See attached City-St. Joseph Township Orderly Annexation Agreement 6. Would the plan review undertaken include anything other than design content, product conformity and consistency, and testing requirements (i.e. drafting standards, general plan layout and detailed design layout)? Yes. 7. How do you propose to collect permit and connection charges from the current Township residents? Once sewer and water is available, the residents have 90 days to hook up. Permit and connection charges would be due at the time of hook up and be collected by the City. St. Wendel Township agrees enforce the hook up policy to pay for any deliquent wàter and sewer connection fees not paid by residents (regardless of whether or not they hook up). The initial service area would consist of all homes in the urban area around the lakes and abutting CR 2. It is estimated that 350 homes would be provided service in the first 2 years. 8. An agreement for joint planning zoning of the service area would need to be covered ' in this agreement or a separate agreement to provide for the City's jurisdiction on these matters in the interim period prior to annexation. - To be discussed by City Council. - X:\S\stjoe\OlO400\study\Questions from st wende1.doc . §.. ~ - .~'" .~ ~ ~ ] ~ .1 ~ R/W 33' q;, 33' R/W ~ ~ 2' 2' 4' ~ 4' VARIES MIN. 14' 14' MIN. VARIES ~ 2' 12' LANE 12' LANE 2' )( SHlD F J N I SHED GRADE SHLO VAil . J].. ....21- 21- .tIt' JP....--- ....-- -- ~ " ~ ~ GRADING GRAD , 5- TOPSOIL & SOO (TYP.) 18- SUB GRADE EXCAVATION TO BE DETERMINED IN THE FIELD. BACKFILL WITH SELECT GRANUlAR BORROW. GEOTEXTILE FABRIC. MNIDOT TYPE 5 TYPICAL SECTION DE TAIL F OR RURAL . STREET RECONSTRUCTION INSET A 1"{ TYPE LV4 WEARING COURSE MIXTURE (LVWE4S030C) BITUMINOUS TACK COAT 2- TYPE LV3 NON-WEARING COURSE MIXTURE (LVNW35030C) 6- AGGREGATE BASE. CLASS 5 - TYPICAL STREET DE T' AI.l- S - City of '. . ST. JOSEPH 12/15/04 .. . - CITY OF ST. JOSEPH, MINNESOTA -t ~ ~ GENERAL OBLIGATION WATER REVENUE BONDS OF 2005 S'í vJ eNDEL Sf. Joseph & St. Wendel ¡¡m¡Hm¡¡¡¡mm¡¡m¡¡¡¡¡¡¡¡¡¡m¡¡jøñð¡¡~~¡(~t~~mm¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡m¡¡¡m¡¡ ¡¡¡¡H¡mmmmmm¡¡mRW~öU~¡¡~~~mmm¡¡¡¡¡m¡mmHmmm mnmm¡¡ij!i6.¡f,imHmmmH . (12-7) Estimated Total ' Statutory Ut/lity WAC Annua/ Interest Debt 5.CXJ% Trunk Charges Other Water Surp/us/ Cumulative ~ar Princ.i 0/ Rate Interest Po ent Covero e Funds :;4 Revenues Rates Deficit Balance JJ5 o 0.00% 215,723 215,723 215,723 215,723 735,000 0 0 735,000 735,000 J6 2CX),000 3.50% 431,445 631,445 663,017 868,035 0 0 205,018 940,018 JJ7 210,000 3.75% 424,445 634,445 666,167 337,253 0 0 -328,914 61 1, 103 108 215,000 4.00% 416,570 63 1,570 663,149 372,153 0 0 -290,995 320,1 08 )9 275,000 4.20% 407,970 682;970 717,119 405,240 0 0 -311,878 8,230 )10 285,000 4.40% 396,420 681,420 715A91 434,285 0 0 -281,206 -272,976 ,11 300,000 4.60% 383,880 683,880 718,074 464,901 0 0 -253,173 -526,150 H2 310,OOÓ 4.80% 370,080 680,080 714,084 497,162 0 0 -216,922 -743,072 H3 325,000 5.00% 355,200 680,200 714,210 526,649 0 0 -187,561 -930,633 ìl4 345,000 5.10% 338,950 683,950 718,148 562343 0 0 -155,805 -1,086,437 '15 360,000 5.20% 321,355 681,355 715A23 599,932 0 0 -115A91 -1,201,928 ·16 380,000 5.30% 302,635 682,635 716,767 639,508 0 0 -77,258 -1,279,186 H7 400,000 5.40% 282,495, 682,495 716,620 681,168 0 0 -35A52 -1,314,638 ii 8' 425,ÙOO 5.50% 260,895 685,895 720,190 725,012 0 0 4,822 -1,309,816 ìl9 450,OOó 5.60% 237,520 687,520 721,896 771,148 0 0 49,252 -1,260,564 J20 470,000 5.65% 212,320 682,320 716,436 819,688 0 0 103,252 -1, 157,312 '2J 500,000 5.70% 185,765 685,765 720,053 870,751 0 0 150,697 -1,006,614 )22 530,000 5.75% 157,265 687,265 721,628 924A59 0 0 202;831 -803,784 '23 560,000 5._80% 126,790 686,790 721,130 980,945 0 0 259,815 -543,968 ;24 590,000 5.85% 94,310 684,310 718,526 1,045,944 0 0 327A19 -216,550 '25 620,000 5.90% 59,795 679,795 713,785 1, 1 08,503 0 0 394,718 178,168 t 120,000 5.90% 23,215 143,215 150,376 1,174,271 0 o 1,023,895 1,202,063 , 130,000 5.95% 16,135 146,135 153,442 1,243.409 0 o 1,089,967 2,292,031 . 140,000 6.00% 8,400 148,400 155,820 1,316,085 0 o 1,160,265 3,452,295' .~- 8,140,0Cû 6,029,578 14,169,578 14,867,270 215,723 18,103,843 0 o 3,452,295 $18,103,843/3,724Units = $4,861/Unit ::~~¡¡møÖ¡~¡J~~~ª~Htmmmmmmmmmmmmmmm¡¡¡¡mm ¡~Öa¡Jnf~~ijøömmm¡mm¡¡mmmmmm¡¡mHHm¡¡¡¡mHm¡m¡¡¡m¡mm¡mmmmmmmmmmmm¡¡¡m¡ ) MGD Water Treatment Plant - '( 6,024,000 Bonds Dated: 10/1/2005 Connect WTP To System 420,000 Bonds Mature: 1211/06 Through 2023 o Gal. Water Tower & land - '08 1,720,OCû Interest Payments: 1211/06 & Semiannually Each 6/1 & 12/1 There Connect Tower To System -Incl. Call Option: Callable 1211/2014 @ Par Plus Accrued Interes Less: Investment Income (A) -22,191 Registrar/Pay Agent: To Be Named. tal of Hard Costs: 8,141,809 Minimum Bid: Est. Average Coupor5.57% Est. Net Efféctive RatE 5.57% Est. Bond Sale Date: October -' 2005. Bond Counsel: Briggs & Morgan, P.A. Tota/ 8,141,809 unded For Issuance I 8,14O,ocq (A) $3,000,000 invested for 180 days at 1.5% :Jì.AÇ¡f.~ø¡~~~!~~¡¡Hm¡¡¡¡¡¡¡m¡mmmmmmmmmmmmmmmmmmmmm¡¡¡m¡¡¡¡¡¡¡¡¡¡m¡¡¡¡¡¡¡m¡¡¡¡¡¡¡m¡¡m¡mm¡¡¡m¡¡¡¡¡¡mmmmmmmmmm¡mm¡¡¡¡mntmmmm¡¡¡m¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡m¡¡¡¡¡¡m¡¡¡ I ~. $3,000; 2006: $3,500; 2007: $3,700; 2008: $3,900; 2009: $4,100 & Increasing By $l00lYearTherafter To $6,000 In 2028 an annual growth rate of 4.3%, WAC fees will generate $18,103,843 in revenues with 3,724 hook-ups over 20 years. Monte Eastvold, V.P., Partner, Northland Securities, Inc. Dated: 12/28/2004 . ' - CITY OF ST. JOSEPH, MINNESOTA - GENERAL OBLIGATION SEWER REVENUE BONDS OF 2009 St. Joseph & Sf. Wendel H¡mm:mmmmmm¡¡::¡¡¡::¡¡¡]SØh~ff::;:~@~m¡mm::mmmwmmmmmm:¡¡¡¡¡¡¡¡¡¡)¡¡¡mm¡:H¡¡:¡m:j~ø~øÔ~:$~~~ø~m:mm¡m:WmmmmHmJH:¡:¡¡¡¡:¢~:fiÞ.W~¡¡¡¡¡¡¡¡¡:H¡ . 02-7) Estimated Tota/ Statutory Utility SAC Annua/ Interest Debt 5.00% Trunk Charges Other Water Surp/us/ Cumulative 'ear Princi. 01 Rate Interest Po ent Covero e Funds :;4 Revenues Rates Deficit Ba/ance ~1O o 0.00% 88,541 88,541 88,541 88,541 866,000 0 0 866,000 866,000 ~11 100,000 4.00% 177,083 277,083 290,937 212,316 0 0 -78,620 787,380 !012 100,000 4.20% 173,083 273,083 286,737 226,847 0 0 -59,889 . 727,490 ~013 105,000 4.40% 168,883 273,883 287,577 242,235 0 0 -45,342 682,149 ~14 11 0,000 4.60% 164,263 274,263 287,976 258,527 0 0 -29,449 652,700 ~15 115,000 4.80% 159,203 274,203 287,913 275,772 0 0 -12,141 640,559 ~16 120,000 5.00% 153,683 273,683 287,367 294,022 0 0 6,655 647,214 ~17 130,000 5.10% 147,683 277,683 291,567 313,331 0 0 21,764 668,978 .018 135,000 5.20% 141,053 276,053 289,855 333,758 0 0 43,902 712,881 1>19 140,000 5.30% 134,033 274,033 287,734 355,361 0 0 67,627 780,508 ~2O 150,000 5.40% 126,613 276,613 290,443 378,206 0 0 87,763 868,271 .021 155,000 5.50% 118,513 273,513 287,188 . 402,358 0 0 115,170 983,441 ~22 165,000 5.60% 109,988 274,988 288,737 427,888 0 0 139;152 1,122,593 .023 175,000 5.65% 100,748 275,748 289,535 454,870 0 0 165,335 1,287,928 .024 185,000 5.70% 90,860 275,860 289,653 483,381 0 0 193,728 1,481,656 .025 195,000 5.75% 80,315 275,315 289,081 513,503 0 0 224,422 1,706;078 .026 205,000 5.80% 69,103 274,103 287,808 545,321 0 0 257,514 1,963,592 .027 220,000 5.85% 57,213 277,213 291,073 578,927 0 0 287,854 2,251,445 .028 235,000 5.90% 44,343 279,343 293,310 614,414 0 0 321,104 2,572,549 .029 245,000 5.95% 30,478 275,478 289,251 651,883 0 0 362,631 2,935,181 .030 265,000 6.00% 15,900 280,900 294,945 691,437 0 0 396,492 3,331,673 . 3,250,000 2,351,574 5,601,574 5,877,225 88,541 9,120,357 0 o 3,331,673 $9,120,357 / 3,615 Units = $2,522/Unit ;:~¡¡;Ji&.Øijøh¡~¡f:QRª}B.¡¡¡m¡mmmmmmm¡mmmmmmmmmmH ¡äÞ~¡~ørn.¡ij(Ø&mmm¡¡mHmmmmHmmmmmHm¡¡m¡Hm¡¡¡m¡mm¡¡¡¡¡¡¡¡¡¡¡¡¡mmmH¡mmmmmmw xpand Main Sewer Lift Station 750,000 Bonds Dated: 611/2009 urchase WWTF Capacity 2,500,000 Bonds Mature: 12/111 0 Through 2030 Less: Investment Income 0) -739 Interest Payments: 1211/09 & Semiannually Each 611 & 1211 There :>tal of Hard Costs: 3,249,261 Call Option: Callable 1211/2017 @ Par Plus Accrued Interes- Add' Issuance Expenses Registrar/Pay Agent: To Be Named. st. Bone! Counsel Minimum Bid: $3,250,000 st. Bond Printing Est. Average Coupor5.68% st. Registration (One-Time Fee) Est. Net Effective RatE 5.68% ;t. Capitalized Interest (0 Months) Est. Bond Sale Date: May -' 2009. t. Fiscal Fee Bond Counsel: Briggs & Morgan, P.A. ;t. Bond Rating Fee ;t. Underwriter Discount (1.96%) ')t. County Auditor/O.S. Printing Tota/ 3,249,261 [I 3,25O,üOQ (A) $100,000 invested for 180 days at 1.5% ounded For Issuance ~¡iH$A¢¡f:S~~~~iøHin~¡n;¡~J.iø~~¡¡¡¡¡¡¡¡¡¡¡¡¡mm¡m¡¡¡mm¡¡¡¡¡mm¡m¡¡¡¡¡¡¡m¡¡¡¡¡¡¡m¡¡m¡¡¡¡¡¡¡¡mmmmmmm¡mm¡¡m¡¡¡¡¡¡¡¡¡¡¡¡mHm¡¡¡m¡¡¡¡¡¡mm¡m¡¡¡¡¡¡¡H¡¡Hm¡¡¡¡m¡¡¡¡¡¡¡¡¡¡m¡mmmmmm¡m¡¡¡¡ I . , 110: $2,000; 2011: $2,050; 2012: $2,100& Increasing By $5OlYear Thereafter To $3,000 in 2030. ,t an annual growth rate of 4.3%, SAC fees will generate $9,120,357 In revenues with 3,615 hook-ups over 20 years. Monte Eastvold, V.P., Partner, Northland Securities, Inc. Dated: 12/29/2004 I lUll" Sðc.1/V .^L;:¡ -. " . CITY OF ST. JOSEPH. MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS OF 2006 - SEWER PORT lOr-. st. Joseph & St. Wendel Hm¡HHHmHHHHrnHmm¡~~r;:~:::~~~mmm¡¡¡m¡¡¡!¡mf¡mHmmUnmHHmnmmmnm~mR~~~~~H~r.~~~~-U¡¡¡{!fHf¡mH¡mHmm~mi~VJ{nm¡UH . Sewer SAC Est. Total statutory Trunk Fees SpecIal Annual (72-1) Interest Debt 5.00% Capltalizea Fees (See Assessment SUrplus/ Cumulative ear Prlnch 01 Rate Interest Po nt Covera Interest $970 Ea. Schedule' DeficIt Balance .006 ° 0.00% 43,196 43,196 86,393 ° ° 43,196 43,196 007 65,000 3.50% 86,393 151,393 346,974 ° 188,012 231,208 008 65,000 3.75% 84,118 149,118 43,394 ° -113,180 118,028 .009 65,000 4.00% 81,680 146,680 45,260 ° -108,754 9,274 .010 65,000 4.20% 79,080 144,080 47,206 ° -104,078 -94,804 011 65,000 4.40% 76,350 141,350 49,236 ° -99,182 -193,986 012 65,000 4.60% 73,490 138,490 51,353 ° 15,551 -178,435 .013 65,000 4.80% 70,500 135,500 53,561 ° 17,291 -161,144 .014 70,000 5.00% 67,380 137,380 55,864 ° 14,013 -147,131 .015 75,000 5.10% 63,880 138,880 58,266 ° 11 ,232 -135,899 016 75,000 5.20% 60,055 135,055 60,772 ° 14,147 -121,752 017 80,000 5.30% 56,155 136,155 63,385 ° 11 ,997 -109,755 018 80,000 5.40% 51,915 131,915 66,111 ° 15,567 -94,188 019 85,000 5.50% 47,595 132,595 68,953 ° 14,089 -80,099 020 90,000 5.60% 42,920 132,920 71,918 ° 13,105 -66,995 021 95,000 5.65% 37,880 132,880 75,011 ° 12,632 -54,363 ..022 100,000 5.70% 32,513 132,513 78,236 0 12,636 -41, 727 .023 105,000 5.75% 26,813 131,813 81,600 ° 13,127 -28,600 024 110,000 5.80% 20,775 130,775 84,284 ° 13,293 -15,307 .025 120,000 5.85% 14,395 134,395 88,733 ° 10,334 -4,973 .026 125,000 5.90% 7,375 132,375 92,549 ° 12,663 7,690 . 1,665,000 1, 124,456 2,789,456 2,926,76 86,393 1,582,666 ° 7,690 ø~~~~fj~~~¡~l~Wmmmnmnmmm¡mmHUmm!¡m ¡*P.~~~¡¡¡¡f:~~~~rmmmmmmmmmmmmmmmmmmmmmmm Est. Improvement Projects (A) . 1,668,000 Est. Amount of Assessments: $832,500 Less: CIty Cash ContrIbution ° Percentage of Issue Assessed: 50.00% Total Hard Costs 1,668,000 Interest Rate on Assessments: 6.50% Add: Issuance Expenses Rrst Installment Collection: 2012 Est. Underwriter's Dlscount@1.25% Number of Annual Installments: 15 Est. Capitalized Interest (12 Months) start Date of Assessments: 11 /30/2011 Est. Financial Advisory Fee Est. Bond Counsel Est. Rating Fee ¡~~¡p,r,~~~f$~iii~M{&~mmmmHmHmmmmHHm Est. Co. Aud./O.S. Printing Est. Registration (One-TIme Fee) Est. 21" Trunk Sanitary Sewer 1,668,000 Total 1,668,000 Est. 16" Trunk Water Main Less: Investment Income -5,104 Includes Bond Issuance Fees Rounded For Issuance II 1,665,OoQl Total Improvement Costs: 1,668,000 ~~~~iif«!irM~w.~~¡¡rrrrWffmmmrmmmmmmWHmm~mmHW!Hm~mmH¡mm~rmHmmmmfffHm Bonds Dated: 611/2006 . Bonds Mature: 1211/07 Through 1211/26 Interest Payments: 1211/06 & Semlèifinually Each 611 & 1211 Thereafter. Call Option: Callable 1211/2014@ Par Plus Accrued Interest. _ Est. Average Coupon: 5.5087% -:- ¡~fif.~~ti¡¡¡&i~HF,~~¡~fI~¡¡¡~i~¡Jn~~~ij:¡mmmmmmnmmmmmmmmmm¡¡m¡¡mmmm¡¡mmnmm¡mmmmmmmmmmHmnmmmmm~mmmnmHmHmnm¡mfHH! If Special Assesment revenues are collected as Indicated, the Sewer Trunk Fee must be $910 per hook-up for a positive cc Monte Eastvold, V.P., Parmer, Northland Securities, Inc. Dated: 12/29/2004 . Trunk S&W.xLS . " CITY OF ST. JOSEPH, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS OF 2006 - WATER PORTIO" st. Joseph & Sf. Wendel mn~mmmmnm~mmmm¡Ø$.~(:::::~~~¡nmHmmmjnmmmmHm¡¡HHHj~HmmmmmmU~~\(~WHøt,$~:{mm¡mUmmmmm ¡m¡~mmn¢~~¡f:iøW:mm~¡HHn ~ Water WAC - Est. Total statutory Trunk Fees Annual (72-7) Interest Debt 5.00% Capltalizeo Fees (See SUrplus/ Cumulative or Pdnch 01 Rate Interest Po nt Covera Interest $470 Ea. Schedule DeficIt Balance i06 0 0.00% 19,288 19,288 38,575 0 0 19,288 19,288 107 30,000 3.50% 38,575 68,575 156,329 0 84,325 103,613 )08 30,000 3.75% 37,525 67,525 19,551 0 -51,350 52,262 109 30,000 4.00% 36,400 66,400 20,392 0 -49,328 2,934 ilO 30,000 4.20% 35,200 65,200 21,269 0 -47,191 -44,257 III 30,000 4.40% 33,940 63,940 22,183 0 -44,954 -89,211 112 30,000 4.60% 32,620 62,620 23,137 0 6,435 -82,776 J13 30,000 4.80% 31,240 61,240 24,132 0 7,265 -75,511 )14 30,000 5.00% 29,800 59,800 25,170 0 8,200 -67,311 )15 30,000 5.10% 28,300 58,300 26,252 0 9,243 -58,068 )16 35,000 5.20% 26,770 61,770 27,381 0 5,114 -52,954 )17 35,000 5.30% 24,950 59,950 28,558 0 6,588 -46,365 )18 35,000 5.40% 23,095 58,095 29,786 0 8,150 -38,216 )19 40,000 5.50% 21,205 61,205 31,067 0 4,551 -33,665 )20 40,000 5.60% 19,005 59,005 32,403 0 6,582 -27,082 321 45,000 5.65% 16,765 61,765 33,796 0 3,463 -23,619 )22 45,000 5.70% 14,223 59,223 35,249 0 5,972 -17,647 )23 45,000 5.75% 11 ,658 56,658 36,765 0 8,567 -9,080 )24 50,000 5.80% 9,070 59,070 37,974 0 5,629 -3,452 )25 50,000 5.85% 6,170 56,170 39,979 0 9,064 5,612 )26 55,000 5.90% 3,245 58,245 41,698 0 6,990 12,602 - 745,000 499,043 1,244,043 38,575 713,069 0 12,602 -, ¡Âp.~~W¡~ff:~~mrmmmrmmmmmmmmmmmmmmf¡r 1~~~~~fi~~~~Hnmmmmmmm¡mmmHmmmmm¡ Est. Improvement Projects (A) 749,000 Est. Amount of Assessments: $372,525 Less: CIty Cash Contribution ° Percentage of Issue Assessed: 50.00% Total Hard Costs 749,000 Interest Rate on Assessments: 6.50% Add: Issuance Expenses Rrst Installment Collection: 2012 Est. Underwriter's Dlscount@1.25% Number of Annual Installments: 15 Est. Capitalized Interest (12 Months) Start Date of Assessments: 11/30/2011 Est. Rnanclal Advisory Fee Est. Bond Counsel Est. Rating Fee ¡iQ~¡~~~~~~f$~~~¡ytÄ}~mnmmnmmnnmmnmmmm¡ Est. Co. Aud./O.S. Printing Est. Registration (One-Time Fee) Est. 21 II Trunk Sanitary Sewer Total 749,000 Est. 16" Trunk Water MaIn 749,000 Less: Investment Income -2,833 Includes Bond Issuance Fees Rounded For Issuance II 745,ooQ! Total Improvement Costs: 749,000 ~~~~~~n+;!i(tïQ¡¡:mmmmmummmmmmmmmmmmmmn¡mmm¡mmmmmmmH1r¡¡fHmmnmnmmmmumnrn Bonds Dated: 6/1 /2006 Bonds Mature: 12/1/07 Through 12/1/26 Interest Payments: 12/1/06 & Semiannually Each 6/1 & 12/1 Thereafter. Call Option: Callable 12/1/2014 @ Par Plus Accrued Interest. - Est. Average Coupon: 5.5036% - \W¡¡w..O~~¡t.~.¡~ij~~~¡iBtB.I#.I¡¡¡~nnm¡¡fmm¡¡m¡mmmm¡m¡mWrHrHHHm¡mHHHHHmrnmmnmnHmmnH¡mmHmmmm¡mnmHnHHm¡~nnHmmmmnnmm¡ If Special Assesment revenues are collected as Indicated, the Water Trunk Fee must be $410 per hook-up for a positive cas! Monte Eas1vold, V.P., Partner, Northland Securlfles, Inc. Dated: 12/29/2r:x)4 Jf I . .. .JI JV~t: I -\ . , , , 1.5MGD-WatTow.xls ~. ~ - CITY OF ST. JOSEPH, MINNESOTA . GENERAL OBLIGATION WATER REVENUE BONDS OF 2005 Sf. Joseph Only ¡:::::::~::~¡¡¡¡¡:::¡¡W¡¡:¡:¡::¡:¡¡¡¡:¡¡:¡¡:a~òd¡p:&~::m&f~::¡::¡¡¡::¡¡:::¡¡:::¡¡¡:¡:¡!¡¡¡¡¡H¡¡:¡::¡¡::¡¡¡¡¡¡¡:¡ ::¡jj¡¡¡¡¡j¡¡¡¡¡¡¡n¡j¡¡¡¡¡:~~v.~ÒQij¡s8ø~¢.~$~¡¡¡j¡j¡::::¡¡¡¡¡¡¡:¡¡:¡:¡:¡¡¡:¡¡¡¡¡ ·¡:¡¡:¡::j¡¡:¢Q$h¡¡F,iWd.\¡¡¡¡¡:¡¡¡¡::¡ Estimated Total Statutory Utility WAC Annual (12-1) Interest Debt S. 00% Trunk Charges Other Water Surplus/ Cumulative Year Princi. al Rate Interest Pa ment Covera e Funds :4 Revenues Rates Deficit Balance 2005 o 0.00% 178,453 178,453 178,453 178,453 210,000 0 0 210,000 210,000 2006 155,000 3.50% 356,905 511,905 537,500 255,535 0 0 -281,965 -71,965 2007 160,000 3.75% 351,480 511 ,480 537,054 281,753 0 0 -255,301 -327,266 2008 165,000 4.00% 345,480 510,480 536,004 309,753 0 0 -226,251 -553,517 2009 220,000 4.20% 338,880 558,880 586,824 339,640 0 0 -247,184 -800,701 2010 235,000 4.40% 329,640 564,640 592,872 362,885 0 0 -229,987 -1,030,688 2011 240,000 4.60% 319,300 559,300 587,265 387,501 0 0 -199,764 -1,230,453 2012 260,000 4.80% 308,260 568,260 596,673 413,562 0 0 -183,111 -1,413,563 2013 270,000 5.00% 295,780 565,780 594,069 441,149 0 0 -152,920 -1,566,484 2014 285,000 5.10% 282,280 567,280 595,644 470,343 0 0 -125,301 -1,691,785 2015 295,000 5.20% 267,745 562,745 590,882 501,232 0 0 -89,650 -1, 7 81,435 2016 315,000 5.30% 252,405 567,405 595,775 533,908 0 0 -61,867 -1,843,302 2017 330,000 5.40% 235,710 565,710 593,996 568,468 0 0 -25,528 -1,868,829 2018 350,000 5.50% 217,890 567,890 596,285 605,012 0 0 8,728 -1,860,102 2019 370,000 5.60% 198,640 568,640 597,072 643,648 0 0 46,576 -1,813,526 2020 385,000 5.65% 177,920 562,920 591,066 684,488 0 0 93,422 -1,720,103 2021 405,000 5.70% 156,168 561,168 589,226 727,651 0 0 138,425 -1,581,679 2022 430,000 5.75% 133,083 563,083 591,237 773,259 0 0 182,022 -1,399,656 2023 460,000 5.80% 108,358 568,358 596,775 821,445 0 0 224,669 -1,174,987 2024 485,000 5.85% 81,678 566,678 595,011 872,344 0 0 277,333 -897,654 2025 .510,000 5.90% 53,305 563,305 591,470 893,608 0 0 302,137 -595,517 . 120,000 5.90% 23,215 143,215 150,376 948,979 0 0 798,603 203,086 130,000 5.95% 16,135 146,135 153,442 1 ,007,460 0 0 854,018 1,057,104 2028 140,000 6.00% 8,400 148,400 155,820 1,069,215 0 0 913,395 1,970,500 6,715,000 5,037,108 11,752,108 12,330,790 178,453 14,122,837 0 o 1,970,500 $14,122,837 /2,844 Units = $4,965/Unlt ¡Á~p.i~øf~ø!ii¡þ.ffU~j¡j~mWHHHmm:m:mm:mmm¡::Hmm¡¡:C ¡~!iij¡j:~Hf.~Wøf~ø!iiUmm:¡:¡r:c::c:¡C¡¡Ccc::cm::¡UW¡m:m¡¡¡:¡:¡mHm:mmm¡¡m¡Um¡¡¡m 1.5 MGD Water Treatment Plant -'( 4,600,000 Bonds Dated: 1011/2005 Connect WTP To System 420,000 Bonds Mature: 1211/06 Through 2023 750 Gal. Water Tower & Land - '08 1,720,000 Interest Payments: 1211/06 & Semiannually Each 611 & 1211 There Connect Tower To System -Incl. Call Option: Callable 1211 /2014 @ Par Plus Accrued Interes Less: Investment Income (A) -22,191 Registrar/Pay Agent: To Be Named. Total of Hard Costs: 6,717,809 Minimum Bid: Est. Average Coupor 5.58% Est. Net Effective Rat! 5.58% Est. Bond Sale Date: October -' 2005. Bond Counsel: Briggs & Morgan, P.A. Total 6,717,809 Rounded For Issuance II 6,715,0001] (A) $3,000,000 invested for 180 days at 1.5% .Â¢¡f~~¡:$Þ~~Qi~~¡m¡H¡¡¡¡H¡¡:¡mmH¡¡¡CC:H¡Wm¡m::w:c:mm:::::m:w::::mw:W¡¡m:mc::c:m¡:mrn¡c:¡c:¡:r¡¡:¡¡::c::mm:::m¡:::u:¡r:CCWm¡:mmur:¡¡WmW¡Wmu::: 2005: $3,000; 2006: $3,500; 2007: $3,700; 2008: $3,900; 2009: $4,100 & Increaseing By $looNear Therafter To $5,800 in 2028. At an annual growth rdteof 4.3%, WAC fees will generate $14,122,837 in revenues with 2,844 hook-ups over 23 years. Monte Eastvold, V.P., Partner, Northland Securities, Inc. Dated: 12/29/2004 -..........-....r ,.. , . . Sew ls-;¿owo.xls . .. tI' ~ c, CllY OF ST. JOSEPH, MINNESOTA GENERAL OBLIGATION SEWER REVENUE BONDS OF 2009 . Sf. Joseph Only ¡:¡:¡:::::::¡::::¡¡¡¡:::::H¡::::¡¡m:::mapriij¡p:q:::iM@~:::::::¡¡¡:¡¡¡::¡¡::¡::¡::¡:m::::m::¡::¡::¡m:::: ::¡¡¡¡::::::::¡¡¡¡¡¡:¡::::¡¡¡¡~øy.øHQ~¡¡$oU~¢'Ø$~:¡:¡¡¡¡¡¡¡:¡¡¡¡:¡¡¡¡¡¡:¡::::¡::::¡¡¡ ¡::¡¡¡¡¡¡¡::¡ÞØ$h:FtoW¡::U:¡:¡¡¡¡:: Estimated Total Statutory Utility SAC Annual (72-7) Interest Debt 5.00% Trunk Charges Other Water Surplus/ Cumulative Year Princi al Rate Interest Pa ment Covera e Funds ::4 Revenues Rates Deficit Balance 2010 o 0.00% 88,541 88,541 88,541 88,541 166,000 0 0 166,000 166,000 2011 100,000 4.00% 177,083 277,083 290,937 177,466 0 0 -113,470 52,530 2012 100,000 4.20% 1 73,083 273,083 286,737 189,612 0 0 -97,125 -44,595 2013 105,000 4.40% 168,883 273,883 287,577 202,474 0 0 -85,103 -129,697 2014 110,000 4.60% 164,263 274,263 287,976 216,092 0 0 -71,884 -201,581 2015 115,000 4.80% 159,203 274,203 287,913 230,506 0 0 -57,407 -258,988 2016 120,000 5.00% 153,683 273,683 287,367 245,760 0 0 -41 ,606 -300,594 2017 130,000 5.10% 147,683 277,683 291,567 261, 900 0 0 -29,666 -330,260 2018 135,000 5.20% 141,053 276,053 289,855 278,974 0 0 -10,881 -341,142 2019 140,000 5.30% 134,033 274,033 287,734 297,032 0 0 9,298 -331,844 2020 150,000 5.40% 126,613 276,613 290,443 316,127 0 0 25,684 -306,160 2021 155,000 5.50% 118,513 273,513 287,188 336,315 0 0 49,126 -257,034 2022 165,000 5.60% 109,988 274,988 288,737 357,654 0 0 68,917 -188,117 2023 175,000 5.65% 100,748 275,748 289,535 380,207 0 0 90,672 -97,445 2024 185,000 5.70% 90,860 275,860 289,653 404,038 0 0 114,385 16,940 2025 195,000 5.75% 80,315 275,315 289,081 429,216 0 0 140,135 157,075 2026 205,000 5.80% 69,103 274,103 287,808 455,811 0 0 168,004 325,079 2027 220,000 5.85% 57,213 277,213 291,073 483,901 0 0 192,828 517,906 2028 235,000 5.90% 44,343 279,343 293,310 513,563 0 0 220,253 738,160 2029 245,000 5.95% 30,478 275,478 289,251 544,881 0 0 255,630 993,790 2030 265,000 6.00% 15,900 280,900 294,945 577,944 0 0 282,999 1,276,788 . 3,250,000 2,351,574 5,601 ,574 5,877,225 88,541 7,065,472 0 o 1,276,788 $7,065,472 /2,743 Units = $2,575/Unit A~þ.i~øf:iøH¡~¡fØH~${H¡[H¡¡:HH:¡¡¡HHHUUU¡H:UHH¡ :aQri(Ü~~o~mijiM{HUH[HH¡mH:H:¡m¡¡¡UHHUUU¡H:HU¡:m¡¡:¡m¡:U¡m[H¡m¡:nmm¡Um:[HmH Expand Main Sewer Lift Station 750,000 Bonds Dated: 6/1 /2009 Purchase WWTF Capacity 2,500,000 Bonds Mature: 12/1 /1 0 Through 2030 Less: Investmentlncome (A) -739 Interest Payments: 12/1 /09 & Semiannually Each 6/1 & 12/1 There Total of Hard Costs: 3,249,261 Call Option: Callable 12/1 /2017 @ Par Plus Accrued Interes- Add' Issuance Expenses RegistrarlPay Agent: To Be Named. Est. Bond Counsel Minimum Bid: $3,250,000 Est. Bond Printing Est. Average Coupon 5.68% Est. Registration (One-Time Fee) Est. Net Effective Rate 5.68% Est. Capitalized Interest (0 Months) Est. Bond Sale Date: May -,2009. Est. Fiscal Fee Bond Counsel: Briggs & Morgan, P.A. Est. Bond Rating Fee Est. Underwriter Discount (1.96%) Est. County Auditor/O.S. Printing Total 3,249,261 II 3,250,00011 (A) $100,000 invested for 180 days at 1 .5% Rounded For Issuance ~.¢HF,ø~¡~~~Ui~jn,qrroø~iQri~m¡mU¡:U¡:¡¡u:¡¡m¡m¡¡:¡¡:¡¡¡H::¡:mUUj:::[HH¡¡U:::H/:U:¡¡m[H:m¡¡¡UH¡::::¡U::W:U:¡:¡¡¡mHmH¡:mmU:¡UUH¡¡mmm:U¡¡¡:¡H:HUUmm¡¡¡¡ 201 0: $2,000; 2011: $2,050; 2012: $2,100 & Increasing By $501Y ear Thereafter To $3,000 in 2030. At an annual growth rate of 4.3%, SAC fees will generate $7,065,472 in revenues with 2,743 hook-ups over 20 years. Monte Eastvold, V.P., Partner, Northland Securities, Inc. Dated: 12/29/2004 CITY OF ST JOSEPH 02/01/054:44 PM Page 1 Bills Payable - Revised . Search Name Comments Amount FUND DEPART OBJ 035302 COMMISSIONER OF REVENUE State Tax Sick/Co $147.12 101 035303 EFTPS Fed Tax Sick/Com $275.23 101 035303 EFTPS SS Tax Sick/Comp $461.52 101 035303 EFTPS Medicare Tax Sick/ $136.98 101 035304 COMMISSIONER OF REVENUE Council payroll 1 $64.53 101 035305 EFTPS Council payroll 1 $101.45101 035305 EFTPS Council payroll 1 $432.76 101 035305 EFTPS Council payroll 1 $101.26 101 035306 PERA Council payroll 1 $152.00 101 035307 COMMISSIONER OF REVENUE Reg payroll #2 $1,190.81 101 035308 EFTPS Reg payroll #2 $2,029.94 101 035308 EFTPS Reg payroll #2 $2,706.36 101 035308 EFTPS Reg payroll #2 $829.48 101 035309 ING LIFE INS & ANNUITY COMPANY Jan 19 payroll defe $75.00 101 035310 PERA retirement pay Jan $3,736.92101 035311 COMMISSIONER OF REVENUE 2.1 Payroll tx $64.38 101 035312 EFTPS 2.1 Payroll Tx $74.38101 035312 EFTPS 2.1 Payroll tx $143.50 101 035312 EFTPS 2.1 Payroll tx $101.04101 035314 PERA 21. Payroll retirem $357.84 101 035315 ELK RIVER FORD INC Ford F250 2005 $10,619.76490 43120 580 035315 ELK RIVER FORD INC Ford F250 2005 $10,619.76602 49490 580 035316 POSTMASTER Utilitiy Billing Jan $89.39 601 49440 322 035316 POSTMASTER Utility Billing-Jan $89.39 602 49490 322 035316 POSTMASTER Utility Billing Jan $89.40 603 43230 322 035317 KLN DISTRIBUTING, INC Computer support $4,314.53 101 42120 215 035317 KLN DISTRIBUTING, INC Computer support $1,485.47101 41430 215 ~8 POSTMASTER Utility Billing-Jan $2.65 601 49440 322 U 8 POSTMASTER Utility Billing-Jan $2.66 603 43230 322 03 318 POSTMASTER Utility Billing-Jan $2.66 602 49490 322 035319 MINNESOTA COMMERCE DEPARTMENT Notary Re-Appoint $40.00 101 41430 433 035320 STEARNS COUNTY AUDITOR-TREAS M Munden-Notary $100.00 101 42120 433 035321 STEARNS COUNTY CHIEFS ASSN Feb 9, 2005 -SI. Jo $105.00101 42140 331 035322 UNUM LIFE INSURANCE disability insurance $412.35 101 035323 XCEL ENERGY SI. Joseph Rec As $531.55101 45125 530 035324 ACCOUNTEMPS L Valiant Wk endin $1,020.00101 41530 300 035324 ACCOUNTEMPS L Valiant Wk endin $816.00 101 41530 300 035325 ALL CARE TOWING Tow Nissan Altima $36.00 101 42152 220 035326 AMERICAN LEGION POST #328 Jan Lunch for Dept $99.32 101 41110 331 035327 ASSEMBLED PRODUCTS CORPORATION Shipping costs for r $7.74 101 42120 322 035328 AVENET, LLC Registration of do $55.00 101 41430 321 035329 BEE LINE MARINE Snowmobile Grant- $199.95 101 42120 240 035330 BROWNING-FERRIS INDUSTRIES Jan Charges $242.87 101 45202 384 035330 BROWNING-FERRIS INDUSTRIES Jan Charges $53.73 602 49490 384 035330 BROWNING-FERRIS INDUSTRIES Jan Charges $53.73 105 42220 384 035330 BROWNING-FERRIS INDUSTRIES Jan Charges $11,157.38603 43230 384 035331 CAMERA TRADER Photo Processing- $8.49 101 42120 210 035332 CARLBOM, RICHARD Registration for CG $20.00 101 41110 331 035333 CELLULAR 2000 cell phone-Fire De $4.50 105 42250 321 035334 FEDEX Fax Machine picku $11.00101 42120 322 035334 FEDEX Dept of Natural Re $17.71 101 41430 322 035335 GAMEDAY ATHLETIC 1 pr Hockey Nets $79.88 101 45202 210 035336 GRANITE ELECTRONICS Replaced Connect $108.57 101 42152 220 035336 GRANITE ELECTRONICS Replace lightbar wi $259.46 101 42152 220 035337 HAWKINS WATER TREATMENT GROUP Hydrofluosilicic aci $305.08 601 49420 210 035337 HAWKINS WATER TREATMENT GROUP Phosphorus & Influ $109.00 602 49480 312 035338 INSPECTRON INC building inspection $6,500.00 101 42401 300 035339 KEEPRS, INC/CY'S UNIFORMS Jean Gustin $83.95 101 42120 171 .0 KLN DISTRIBUTING, INC install cash drawerl $269.09 101 41430 582 o KLN DISTRIBUTING, INC Receipt Printer $246.37 603 43230 200 035340 KLN DISTRIBUTING, INC Receipt Printer/Ca $246.37 601 49440 200 035340 KLN DISTRIBUTING, INC Receipt Printer/Ca $246.37 602 49490 200 CITY OF ST JOSEPH 02/01/054:44 PM Page 2 Bills Payable - Revised Check . Nbr Search Name Comments Amount FUND DEPART OBJ 035341 LlNGL, GREG & JULIE cleaning service, J $220.00 101 41942 300 035342 MINNESOTA RURAL WATER ASSOC. Membership 2005 $195.00 601 49440 433 035342 MINNESOTA RURAL WATER ASSOC. MRWA Conf March $100.00 601 49440 331 035343 MN SECTION CSWEA Wastewater Operat $45.00 602 49490 331 035344 MOBILE VISION Mic holder for cam $60.71 101 42151 580 035345 MUNICIPAL DEVELOPMENT CORP Dec EDA Hours $257.52 150 46500 300 035346 NAHAN, TOM Wall Clock Replac $15.96 101 41950 230 035346 NAHAN, TOM Reimbursement for $11.57 101 41950 210 035347 NCPERS GROUP LIFE INSURANCE life insurance-Feb $9.00 101 035348 OFFICE DEPOT 45 color copies $42.85 101 42120 350 035348 OFFICE DEPOT office supplies $19.54 101 42120 200 035348 OFFICE DEPOT calendars $38.31 101 41430 200 035348 OFFICE DEPOT calendars $38.31 101 41430 200 035349 OFFICE MAX Deskjet printer $96.29 101 41430 210 035349 OFFICE MAX envelopes, tax for $129.59101 41430 200 035350 ONE CALL CONCEPTS, INC notification- $36.80 601 49440 319 035350 ONE CALL CONCEPTS, INC notification- $36.80 602 49490 319 035351 PITNEY BOWES Dec Postage $82.95 101 42120 322 035351 PITNEY BOWES Rental Charges - F $180.27 101 41430 410 035351 PITNEY BOWES Dec Postage $331.82 101 41430 322 035352 POSTMASTER PO Box Rental $24.00 105 42210 322 035353 PRINCIPAL LIFE Med Ins 2/15 - 3/14 $2,962.33 101 035354 RAJKOWSKI HANSMEIER L TO Criminal Legal Fee $1,702.50101 42120 304 035354 RAJKOWSKI HANSMEIER L TO New Development $320.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO Northland Heights $11.00101 41610 304 035354 RAJKOWSKI HANSMEIER L TO PondView Ridge $80.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO St. Ben $90.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO Cloverdale $44.00 101 41610 304 . 035354 RAJKOWSKI HANS MEIER L TO Riverbend $44.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO Forfeiture '93 Chev $26.50 101 42120 304 035354 RAJKOWSKI HANSMEIER L TO Cloverdale $66.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO Bldg Maint $174.00 101 42401 304 035354 RAJKOWSKI HANSMEIER L TO Arbitration $4,314.75 101 42120 304 035354 RAJKOWSKI HANSMEIER L TO Audit Review, Tax $822.00 101 41610 304 035354 RAJKOWSKI HANS MEIER L TO Annexation $660.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO Ordinances $861.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO Arcon Oevelopmen $704.00 101 42401 304 035354 RAJKOWSKI HANSMEIER L TO Zoning $77.00 101 41610 304 035354 RAJKOWSKI HANSMEIER L TO Assesments $255.00 101 41610 304 035355 RENGEL PRINTING business cards R. $67.41 101 41110 200 035355 RENGEL PRINTING Business Card-Mu $60.58 101 42120 210 035356 SAM'S CLUB membership dues $30.00 101 41430 433 035356 SAM'S CLUB membership dues $30.00 601 49440 433 035356 SAM'S CLUB membership dues $30.00 602 49490 433 035356 SAM'S CLUB membership dues $30.00 101 42120 433 035357 SEH Liberty Pointe $512.25428 43124 530 035357 SEH Safeshred Facility $490.00 101 43131 303 035357 SEH Foxmore Hollow $ 1,336.66 101 43131 303 035357 SEH 2004 Test Well-Oril $5,071.40 434 49440 530 035357 SEH Arcon Oevelopmen $2,446.37 101 43131 303 035357 SEH St. Wendel Sewer $3,835.00 101 43131 303 035357 SEH Municipal State Aid $122.25 101 43131 303 035357 SEH New Water Treatm $16.25 434 49440 530 035357 SEH Northland Plat 7 $329.50 428 43123 530 035357 SEH Pond View Ridge 7 $412.25101 43131 303 035357 SEH Graceview Estates $345.75 101 43131 303 035357 SEH Northland 8 $384.75 430 43120 530 035357 SEH Callaway Street $502.75101 43131 303 . 035357 SEH Cloverdale Improve $8,925.53 431 43120 530 035357 SEH 2004 College Addit $543.12 101 43131 303 035357 SEH Capitallmproveme $4,256.25 101 43131 303 035357 SEH Hillstreet & 3rd Ave $8,407.60 101 43131 303 CITY OF ST JOSEPH 02/01/054:44 PM Page 3 Bills Payable - Revised ~ Search Name Comments Amount FUND DEPART OBJ 035357 SEH Morningside Acres $1,725.30 101 43131 303 035357 SEH Platting & Zoning $694.00 101 43131 303 035357 SEH Feld Property $98.00 101 43131 303 035358 ST. CLOUD TIMES reverse check 352 -$318.28 433 43120 530 035358 ST. CLOUD TIMES ch 35292 posted to $318.28433 43127 530 035359 ST. JOSEPH FIRE DEPARTMENT Reimbursement for $86.50 105 42210 322 035360 ST. JOSEPH NEWS LEADER 2951h Street Ad Sp $122.10433 43120 530 035360 ST. JOSEPH NEWS LEADER Cloverdale Ad Spe $122.10433 43127 530 035360 ST. JOSEPH NEWSLEADER Borgert $72.15 101 41130 340 035361 STEARNS COOPERATIVE ELEC. ASSN Co Rd 121 $68.45 602 49473 381 035361 STEARNS COOPERATIVE ELEC. ASSN Willenbring CI-Slr L $519.03 101 43160 386 035361 STEARNS COOPERATIVE ELEC. ASSN Hickory & Hackberr $45.50 602 49480 381 035361 STEARNS COOPERATIVE ELEC. ASSN Northland Dr $65.36 602 49472 381 035361 STEARNS COOPERATIVE ELEC. ASSN Maint Fac $424.49 101 45201 381 035361 STEARNS COOPERATIVE ELEC. ASSN DBL Labs Lift Stali $43.60 602 49471 381 035362 STEARNS COUNTY SHERIFF'S DEPT. Citation Books $42.60 101 42120 210 035363 SYMANIETZ, RENEE mileage for mtgs 1/ $85.88 101 41110 331 035364 TAU FEN, DICK Storm Water Conf $40.00 101 43120 331 035365 TRAUT WELLS Wa samples-Colle $35.00 601 49420 312 035365 TRAUT WELLS Water samples-St $35.00 601 49420 312 035366 US CABLE internet service $56.55 101 41430 321 035367 WERNER ELECTRIC SUPPLY Light Bulbs $145.96 101 45201 210 035368 WSB & ASSOCIATES, INC Field St Corridor St $935.00 101 43131 303 035369 XCEL ENERGY See Light-Flag Pol $15.69 101 43160 386 035370 ZEP MANUFACTURING Paper Towels, Toil $57.80 1 01 45201 210 035370 ZEP MANUFACTURING Paper Towels, Toil $57.80 101 45202 210 035370 ZEP MANUFACTURING Brake Wash, Degr $72.65 101 45201 210 eo ZEP MANUFACTURING Paper Towels, Toil $57.81 101 41430 210 $123,040.99 . tJ'ãIor {/JOUO Aliea Planning Organization · 1040 County Road 4, St. Cloud, MN 56303-0643 (320) 252-7568 .. (320) 252-6557 (FAX) ,. E-mail: admin@stc1oudapo.org ,. www.stc1oudapo.org January 28, 2005 MEMORANDUM TO: APO Executive Boa~ FROM: Scott Mareck~ SUBJECT: St. Cloud Metropolitan Area FY 2006 Federal Transportation Appropriations Priorities As you are aware, Congress is currently in the process of soliciting candidate projects for inclusion in the Fiscal Year (FY) 2006 federal transportation appropriations bill. This annual appropriations process is in addition to High Priority Project (HPP) funding and formula-based funding that is legislated through the six-year federal highway act, currently TEA-21. In response to this FY 2006 appropriations solicitation, the St. Cloud Area Planning Organization (APO) Policy Board has adopted the attached appropriations priority list to submit to our Minnesota Congressional delegation. This list has been developed in consultation with the APO transportation lobbyist, David Turch and Associates. As you may expect, Congress receives many more requests for federal appropriations earmarks than can be delivered. Accordingly, to maximize the St. Cloud Area's prospects for success, individual APO member jurisdictions should be united in their support for the appropriations · projects and priorities identified by the APO Board. To illustrate "consensus" with regard to the APO's FY 2006 appropriations priorities, the APO is requesting resolutions of support from all APO member jurisdictions. A generic resolution is attached for your consideration. To meet Congressional deadlines, we ask that you please place this issue on your agenda as soon as possible, and submit your jurisdiction's action to the APO by February 11th, Thank you for your assistance with this matter. Copy: Michael Williams, City of St. Cloud Administrator Ross Olson, City of Sauk Rapids Administrator Shaunna Johnson, City of Waite Park Administrator Patti Gartland, City of Sartell Administrator City of St. Augusta Administrator Judy Weyrens, City of St. Joseph Administrator George Rindelaub, Stearns County Administrator Brian Bensen, Sherburne County Administrator Montgomery Headley, Benton County Administrator David Tripp, St. Cloud MTC Executive Director k~ff.E G E n¡Å~urJ; Haven Township, LeSauk Township & St. Joseph Township Clerks ¡ /~ t\? " r ".,."PJ "l " 70 .., t# ,,¿ {_ 05 · CITY o~' ¡- ST. .)()fr::p'-I .~ ~'''- -! , Representing tbe Following Jurisdictions Benton County" Haven Township " LeSauk Township .. St. Augusta .. St. Cloud,. St. Joseph St. Joseph Township" SarteJI .. Sauk Rapids" Sherburne County" Stearns County" Waite Park St. Cloud Area Planning Organization FY 2006 Appropriations Projects . ,P-tló~ ,ANc2006.: rIåtIÓl1sJ~~ 1 $8,500,000 2 $2,260,000 3 $240,000 SAUK RAPIDS BRIDGE FINANCING PLAN OCTOBER, 2005 SECURED FUNDS TEA-21 HPP: $10.6 Million Stearns County CSAH Funds $ 1.3 Million City of Sa uk Rapids MSA Funds: $ 1.3 Million State Turnback Funds: $12.2 Million APO Federal Formula Fund s $ 1.0 Million Total Secured Funds: $26.4 Million FUNDS PENDING APPROVAL State Bridge Bonding (2005): $15.7 Million TEALUlSAFETEA HPP Funds: $ 3.0 Million Total Funds Pending Approval: $18.7 Million TOTAL SECURED FUNDS OR . FUNDS PENDING APPROVAL $45.1 Million Total Proiect Estimate: $53.6 Million Remaining Project Deficit: ($ 8.5 Million) Strategies to Secure $8.5 Million Deficit . The APO and its member jurisdictions request the Congress to join in a federal, State and local partnership to address the remaining $8.5 million Sauk Rapids Bridge funding deficit. It is envisioned that this partnership will involve a Steams County Bond to be repaid with contributions from a combination of the following potential revenue sources: ~ Annual Federal Appropriations ~ Minnesota Local Road Improvement Program ~ County State Aid Funds ~ Municipal State Aid Funds ~ City/County Property Tax Levy Funds ~ St. Cloud Area Local Option Sales Tax Funds ~ S1. Cloud APO Federal Formula Funds (A TP) . . CITY OF ST. JOSEPH CC RESOLUTION 2005-04 RESOLUTION ESTABLISHING: St. Cloud Metropolitan Area Federal Fiscal Year 2006 Transportation Appropriations Priorities WHEREAS, the St. Cloud Area Planning Organization (APO) adopted a 2025 Transportation Plan for the St. Cloud Metropolitan Area in 2001 consistent with federal planning regulations, and WHEREAS, this 2025 Transportation Plan identifies $212 million of unmet roadway expansion needs within the St. Cloud Metropolitan Area, and WHEREAS, the United States Congress is currently soliciting candidate projects for federal fiscal year 2006 transportation appropriations funding, and WHEREAS, the St. Cloud Area Planning Organization has prepared a prioritized candidate project list for federal fiscal year 2006 transportation appropriations funding. . NOW, THEREFORE, BE IT RESOLVED, that the City of St. Joseph hereby endorses the attached St. Cloud Metropolitan Area prioritized project list to be submitted to the United States Congress for federal fiscal year 2006 appropriations funding. Adopted by the Council this 3rd day of February 2005. Richard F Carlbom, Mayor ATTEST: Judy Weyrens, Administrator . . I Attachment: Yes or No I REQUEST FOR COUNCIL ACTION Consent 3 DATE: February 3, 2005 Fire Department ORIGINATING DEPARTMENT DEPARTMENT APPROVAL AGENDA ITEM Gambling License - Accept the exemption permit for the St. Joseph Volunteer Firefighters for an event to be held on April 22, 2005 PREVIOUS ACTION . The Fire Department holds an annual Fund Raiser each spring RECOMMENDED COUNCIL ACTION Accept the application for Exempt Pennit as pesented FISCAL IMP ACT COMMENTS/RECOMMENDATIONS . Minnesota Lawful Gambling Page 1 of 2 3/01 LG220 Application for Exempt Permit Fee - $25 For Board Use Only Fee Paid . Check No. Previous lawful gambling exemption number X· ^t3ókï State/Zip Code County ~E~KN5 Last name Daytime phone number of CEO o..Y-!..o- ~6 de- (3-ZÕ ) '250' --;L/q z. Last name Daytime phone number of treasurer: ~<;. s;;* \A \) ~ Type of Nonprofit Organization Check the box that best describes your organization: D Fraternal 0 Religious D Veteran D Other nonprofit organization Check the box that indicates the type of proof your organization attached to this application: o IRS letter indicating income tax exempt status . Þ ";? œJ Certificate of Good Standing from the Minnesota Secretary of State's Office (....... u '$+ ~ Ckt.rrc.riC D A charter showing you are an affiliate of a parent nonprofit organization D Proof previously submitted and on file with the Gambling Control Board . Gamblin Premises Information Name of premises where gambling activity will be conducted (for raffles, list the site where the drawing will take place) l;;::?l-- A C¿\ Address (do not use PO box) City StatelZip Code County ,;,;' / . ~. '3"DS6 fY7.-.J 51.:, 3'7tf "5Té.Aï;: tV :5 Date(s) of ctivity (for raffles, indicate the date of the drawi g) 71 2, rJ'i::> 200S \. -- Check the box or boxes that indicate the type of gambling activity your organization will be conducting: D *Bingo § Raffles (cash prizes may not exceed $12,000) D *Paddlewheels D *Pull-Tabs D *Tipboards *Equipment for these activities must be obtained from a licensed distributor. This form will be made available in Your name and and your organization's the following: Board members, staff of the alternative format (i.e. large print, Braille) name and address will be public information Board whose work assignment requires upon request. The information requested when received by the Board. All the other that they have access to the information; on this form (and any attachments) will be information that you provide will be private the Minnesota Department of Public Safety; used by the Gambling Control Board data about you until the Board issues your the Minnesota Attorney General; the (Board) to determine your qualifications to permit. When the Board issues your Minnesota Commissioners of be involved in lawful gambling activities in permit, all of the information that you have Administration, Finance, and Revenue; the Minnesota. You have the right to refuse to provided to the Board in the process of Minnesota Legislative Auditor, national and supply the information requested; however, applying for your permit will become public. international gambling regulatory agencies; if you refuse to supply this information, the If the Board does not issue you a permit, anyone pursuant to court order; other Board may not be able to determine your all the information you have provided in the individuals and agencies that are qualifications and, as a consequence, may process of applying for a permit remains specifically authorized by state or federal refuse to issue you a permit. If you supply private, with the exception of your name law to have access to the information; . the information requested, the Board will and your organization's name and address individuals and agencies for which law or be able to process your application. which will remain public, legal order authorizes a new use or sharing Private data about you are available only to of information after this Notice was given; and anyone with your consent. LG220 Application for Exempt Permit Page 2 of2 3101 Organization Name -5-ï"-"'" V'r?L ¡:;.~ 'f'1 £!:"¡.\í'b'2.S . ()e.>S6ï>j. Local Unit of Government Acknowledgment . If the gambling premises is within city limits, the If the gambling premises is located in a township, both city must sign this application. the county and township must sign this application. On behalf of the city, I acknowledge this application. On behalf of the county, I acknowiedge this application. Check the action that Check the action that the city is taking on this application. the county is taking on this application. o The city approves the application with no o The county approves the application with no waiting period. waiting period. o The city approves the application with a 30 day D The county approves the application with a 30 day waiting period, and allows the Board to issue a waiting period, and allows the Board to issue a permit after 30 days (60 days for a first class permit after 30 days. city). D The city denies the application. o The county denies the application, Print name of city Print name of county (Signature of city personnel receiving application) (Signature of county personnel receiving application) Title Title Date-----1-----1_ . Date I I TOWNSHIP: On behalf of the township, I acknowledge that the organization is applying for exempted gambling activity r within the township limits. [A township has no statutory authority to approve or deny an application (Minn. Stat. sec. IC... @ 349.213, subd. 2).] Print name of township (Signature of township official acknowledging application) Title Date-----1-----1_ Chief Executive Officer's Signature The information provided in this applic n is comple and accurate to the best of my knowledge. ~ Chief executive officer's signature Name(pleaseprint) ßí'J~n Date e; / 125"12-- Mail Application and Attachments At least 45 days prior to your scheduled activity date send: If your application has not · the completed application, · a copy of your proof of nonprofit status, and been acknowledged by the · a $25 application fee (make check payable to "State of Minnesota"). local unit of government or Application fees are not prorated, ~efundable, or transferable. has been denied, do not . . Send to: Gambling Control Board send the application to the 1711 West County Road B, Suite 300 South Gambling Control Board. Roseville, MN 55113 I Attachment: Yes or No I . REQUEST FOR COUNCIL ACTION Drainage Easement Vacation DATE: February 3,2005 Administration ORIGINATING DEPARTMENT DEPARTMENT APPRO V AL AGENDA ITEM Public Hearing - Drainage Easement Vacation PREVIOUS ACTION The City Council when reviewing the site plan for the Boulder Ridge Apartments agreed to allow Mark Lambert to drain his surface water to the wetland area owned by the City. While the development for Boulder Ridge only included the upper lot, the City by reference included in the Development Agreement that the surface water for Lots land 2 would drain to the wetland area. . I have discussed this matter with Tracy Ekola and she concurs that the drainage easement can be released with the understanding and agreement that Lot 2 will drain to the wetland area owned by the City. When Lot 2 is developed, the developer will be required to submit a surface water management plan and detail the drainage. This review process allows the City to assure that the storm water is being managed. RECOMMENDED COUNCIL ACTION Adopt resolution 2005-05 Releasing the Storm Water Easement FISCAL IMP ACT COMMENTS/RECOMMENDATIONS . 2005-05 · Resolution Vacating Easement Lot 2 Block 1 Indian Hills Park Plat Summit Management WHEREAS, the property owner burdened by the drainage easement located in the southeast corner of Lot 2 Block 1 Indian Hills Park Plat has requested to vacate such street according to law; AND WHEREAS, a public hearing was held on February 3, 2005 at 7:00 PM before the City Council in the City Hall on such petition after duly published and posted notice had been given, as well as personal notice to affected property owners by the City Office on January 21,2005 and all persons interested were given an opportunity to be heard; AND WHEREAS, any person, corporation or city owning or controlling easements contained upon the property vacated, reserves the right to continue maintaining the same or to enter upon such way or portion thereof vacated to maintain, repair, replace, remove or otherwise attend thereto; AND WHEREAS, it appears that it will be in the best interest of the City to approve such petition; NOW, THEREFORE, BE IT RESOLVED, that such petition is hereby granted and the drainage easement located in the southeast corner of Lot 2 Block 1 Indian Hills Park Plat is hereby vacated. Adopted this 3rd day of February 2005. · Richard Carlbom Mayor ATTEST Judy Weyrens Administrator · . CITY OF ST. JOSEPH www.cityofstjoseph.com NOTICE OF BEARING CITY OF ST. JOSEPB Notice is hereby given that St. Joseph Council will conduct a public hearing on Thursday, Administrdtor February 3,2005 at 7:00 PM. The purpose of the hearing is to consider release of a drainage Judy Weyrens easement located on the southeast corner of Lot 2 Block 1 Indian Hills Park Plat. All persons wishing to speak will be heard and oral presentations will be limited to three MdYor minutes~ Richdrd Còrlbom The petition to vacate an easement has been submitted by Summit Management, LLC; 10 1 - Councilors East Fifth Street; Suite 910; St. Paul MN 55l0l-l808 AI Rdssier Ross Rieke Judy Weyrens Renee Symdnietz Administrator Ddle Wick Publish: January 21,2005 . 1m .._._..._._..._._._._._._._._._.~~~~._._._._._._._._..""" AltsT,E '-'-. ._= COUNTY.ROAD. '1$ C OUNTY, ROAD. 7$ E COUNTY,ROAD. 'IS =:=J [I]c=J ill lIDTI ~ rtJA~· T. ~, I I II IT . 2.)" College Avenue North, PO Box 668 . Sdint Joseph M'n t 6 ' . , 1 neso d )" ,74 Phone ,2.0.,6"72.01 FdX )2.0.,6,.0'42. SUMMIT MANAGEMENT, LLC us BANK CENTER 101 EAST FIFTH ST., SUITE 910 ST. PAUL, MN 55101-1808 i\lARK W. LAMBERT PHONE: (651) 224-4741 . PRESIDENT FAX: (651) 223-5318 DIRECT: (651) 223-5493 November 29, 2004 Judy Weyrens City of St. Joseph PO Box 668 St. Joseph, MN 56374 ¡'"'lIE JF< >=0"" '- i"i" -'r ,-, "~"C~ ~ -,; %t-:- ;-~: ~ \-} !\-: ~~ . ~ Dear Ms. Weyrens: n¡.:C '¡ ì ¡n'ÎI' --. -- . '.f "J. o. tJL-f CITY OF ST. J!)~çpl..¡ I am wliting to request the vacation of a stonn water drainage easement in the Southeast CorÌìèr-ofLot 2, Block 1, Indian Hills Addition. During construction of the Boulder Ridge Apartments, our stonn water was piped to the NOlihland Addition stonn water pond instead of using a stonn water easement as shown on the existing plat. We understood that once this project was completed, the now filled "Drainage Easement" would be vacated. Enclosed please find a copy of the plat with the drainage easement highlighted. Thank you for your consideration. If you have any other questions, feel free to contact me at your convenience. Very truly yours, . LA1\ffiERT & ASSOCIATES Enclosure. . , ;"W-N I ! ¡ <ZZ'" I !.g~ : , , ..-. .......-<11" I I e::-UN I C~..,- , :Zll>V>>- Z; L 'BOL 3 "L + ,BO"OO S : i / Ot NOIl:J3S tit 3N t/tMS 3NI1 15'1"3 . --{._._ -' - -- .-' -' fh.....................~'\'..¡.~:¿ë~....·..:·........··..··..1 ¡................... ···..······õ¡:í'ièh..... ..............h...m,:.~~. I . ¡ ~~....f \t\ 13N~~]~~6 ! \ ;' :' ¡ II , 3' ." . ¡ !!I I \ ¡i i /. : I .-.---.- : : I ¡ I i ¡ 1 . I' . ! I ¡, : / 1 \ I: : \! I ¡ ! I \ ¡ \ '" i i 1- I :::::::::::::::::::::::::: \ 0 i \ ~ i ~ : O~ . 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" , ü ..... : .... /.0: I - >- >- Or / 0 \""", : ) v I ' ' Q VJ~U¡ .~ A -lIne;::..: ,;:¡ "',' I-=>:I: ,-" !D 0: 0-1\ ' i "\ I <{ t:)......W ~o " ~: ~ : \ f- ~<J:: 1l)~ '- .,-: : '.. , :z. a:: 0 ""'" r--o " 1 : I I I I YJ ~ ~ N . , \ \. !ic;r¡: i ¡ I D: lLJ Z C .., >- I B ;1 n, ., lOLL!:. . .. ._............-....... .-- ...-- J ¡ i 0 ID « n: '" i!= f ,,'" _.__._.~_ \. ,,- _...~.._......._-.._.. -..--- _ H~--- !;::?D c:::'N --~.".'::. '/;1 .Il.ao N ',' ,; ...,.., al NOU.:>¡¡!i t/13N '10/11115 3N11l!i3M I..·"'·.,¡ [ I, g !f?f58 ~~i.., , ",.-/'\ orC'le: M ..71 .11 _nn N ;J. æ. .....~....~~ . -.., . .-.. .' ..,-. '. .".,. ~._. · I Attachment: Yes or No I REQUEST FOR COUNCIL ACTION Monte Eastvold - Bond 2005 DATE: ORIGINATING DEPARTMENT DEPARTMENT APPROVAL AGENDA ITEM Monte Eastvold, Bonding 2005 PREVIOUS ACTION The Council will be conducting the assessment hearings for Cloverdale and Hill Street. It is assumed the projects will proceed in Spring with the Council awarding the contract in March. The City needs to · determine which method of bond issuance will be used. Therefore, Monte Eastvold will be present to discuss negotiated sale and public sale bond issues. We will not issue bonds at this meeting, rather establish the process. In addition to financing the proposed improvements, the City has the opportunity to refinance some existing bond issues, saving interest payments. Monte monitors the bond issues and presents refinancing candidates to the Council as appropriate. RECOMMENDED COUNCIL ACTION l. Determine the method of bond sale for the 2005 Improvements 2. Accept the recommendation of Monte Eastvold and refinance the appropriate bond issues. FISCAL IMP ACT Considerable savings in interest COMMENTS/RECOMMENDATIONS · NOTE: Monte will be providing additional information at the meeting on Thursday NORTHLAND. SEC U RI TIES --~. >-- - , . · i\: January 14,2005 CIT'( OP ¿.: , Judy Weyrens, Administrator St. Joseph City Hall P.O. BoX 668 St. Joseph, MN 56374-0668 RE: PROPOSED REFUNDING OF PUBLIC PRJECT REVENUE BONDS OF 2000 Dear Judy, The City's Public Project Revenue Bonds of 2000 (that financed the City Hall) are "Callable" on December I, 2007. As this bond issues carries a high average interest rate, it is a prime candidate for a "Crossover" refinancing at today's historically low interest rates. Attached is a copy of the Bond Buyer's Index illustrating the continued decline in interest rates. Enclosed is an updated refunding analysis of the 2000 bond issue. In particular, the Average Interest Rate of the bonds is 6.40%; the estimated Average Interest Rate on the proposed · refunding would be 3.99%. This decrease in interest expenses contributes to an overall reduction in debt service payments of approximately $3l,513, or in present value tem1s, approximately $24,421. A negotiated bond sale is recommended for the proposed refunding rather than a public bond sale for one reason: size. Adding a Financial Advisory fee to the expenses of a small bond issue such as this one will only decrease the "savings" of the refunding. A negotiated sale will enable the City to know exactly what the interest rates and terms are before the City commits to the refunding. I would appreciate an opportunity to review the potential refunding with you and the City Council at their earliest convenience. If you have any questions regarding this infonnation, please do not hesitate to call me at 1-800-851-2920. Very truly yours, Northland Securities, Inc. ~~4 Monte Eastvold Vice President, Partner ME/pcc · Attachments Northland Securities, Jne. 45 South 7 th Street, Suite 2500, Minneapolis. MN 55402 T" hC", 1-800-851-2920 ~bc, 612-851-5900 F'> 612-851-5987 www,nonhlandsecurities.com Member NASD and SIPC Preliminary City of Saint Joseph EDA, Minnesota Revenue Refunding Bonds of 2005 2000 . Refunding Summary Dated 03/01/2005 f Delivered 03/01/2005 SOURCES OF FUNDS Par Amount of Bonds. ...... ........ .... ........ ........ ....... ..,............ ........... ...... ...... ...... ..... ................. ....................... ............ ......... ...... $650,000.00 TOT AL SOURCES.................................................................................................................................................................. $650,000.00 USES OF FUNDS Deposit to Crossover Escrow Fund.. ..... ... ............ ....................... ......... ................... ......... .... ... ....... .... ............. ...... .... ... ..... ...... 628,601.75 Total Underwriter's Discount (1.960%). ... ... ..... .... ........ ............... .................... ... .... ....... ............ ......... .... .... .... ....... ... ....... ........ 12,740.00 Costs of Issuance................................................................................................................................ ................................... 8,600.00 Rounding Amount...........................,.................................................................................................... ................................... 58.25 TOT AL USES.......................................................................................................................................................................... $650,000.00 Flow of Funds Detail State and Local Government Series (SLGS) rates for............................................................................................................. 1/12/2005 Date of OMP Candidates,.... .................. ......... ..... ...... ...... ........ ......... ....... ................ ..................... ........... ........ ......... ....... ....... Crossover Escrow Fund Solution Method................... '....... ................. ...... ...... ................................ ......................... ............... Net Funded . Total Cost of Investments...., ........................ ........ ................. ..... .... .............. ....................................... .............................,..... $628,601.75 Interest Earnings @ 3.317%............ ............... ..... ....... .............. ......... ............. ............. ............. ........ ....... ............................... 56,981.38 Total Draws.... ................ .......... ................... ......... ...... ............ ........ .............. ..................... ............................ ...... .................... $685,583.13 Issues Refunded And Call Dates OOold....................................................................................................................................................................................... 12/01/2007 PV Analysis Summary (Net to Net) Net PV Cashflow Savings @ 3.974%(Bond yield)................................................................................................................. 24,363.63 Contingency or Rounding Amount................ .......................... ........ ....... .......... ........ ............. ............ ....... ............. ...... ............. 58.25 Net Present Value Benefit.......... ........................... ........... ...... ........... ....... ..... ..................... ........ .............. .................. ............. $24,421.88 Net PV Benefit / $615,000 Refunded Principal...... ............. ......... ....................... ............ ............ ...... .............. ..... ................. 3,971 % Net PV Benefit / $650,000 Refunding PrincipaL.........................................................,......................................................... 3.757% Bond Statistics Average Life......,.......,.................................................................................,...........,.......,.....,.... ...., _....."'......". ..........,........... 7.458 Years Average Coupon..................................................,.......,.,.........................................,..................... ......................................... 3.9917613% Net Interest Cost (NIC)............ ....... ........,.. .......................... ......... ......... ................ ................................... ......... ...................... 4.2545772% Bond Yield for Arbitrage Purposes.................... ...................... ..,........... ........... .................. ................................................,.... 3.9740150% True Interest Cost (TiC).....................................,...... ......., '..... .............. '........ .......... ................ ...._.................... ...... ............ .... 4.2865081 % All Inclusive Cost (AIC)............ .......... ............ .......:.......... .......... ............ ..... ..... .................. ........ ............... ................. ............. 4.5019248% . DOrer I SINGLE PURPOSE I 1/14/2005 I 2:19 PM Northland Securities Public Finance Page 1 Preliminary City of Saint Joseph EDA, Minnesota Revenue Refunding Bonds of 2005 2000 . Debt Service Comparison Date Total P+I PCF Existinq D/S Net New D/S Old Net D/S Savinqs 12/01/2005 18,830.63 (18,830.63) 98,900.00 98,841,75 98,900.00 58.25 12/01/2006 25,107.50 (25,107.50) 100,950.00 100,950.00 100,950.00 - 12/01/2007 25,107.50 (641,645.00) 719,215,00 102,677.50 102,677.50 12/01/2008 95,107.50 - 95,107.50 99,077.50 3,970.00 12/01/2009 97,902.50 - 97,902.50 100,417.50 2,515.00 12/01/2010 95,390.00 95,390.00 101,420,00 6,030.00 12/01/2011 97,727.50 . . 97,727.50 102,045.00 4,317.50 12/01/2012 99,727.50 - 99,727.50 102,320,00 2,592.50 12/01/2013 91,370.00 - - 91,37000 97,240.00 5,870.00 12/01/2014 98,050.00 98,050.00 102,120.00 4,070.00 12/01/2015 99,180.00 - - 99,180.00 101,270.00 2,090.00 Total $843,500.63 (685,583.13) $919,065.00 $1,076,924.25 $1,108,437.50 S31,513.25 PV Analysis Summary (Net to Net) Gross PV Debt Service Savings.............................................. ......... ....................... .............. ............ ..... ... .... .,...... ... ........ ......... 24,363,63 Net PV Cashflow Savings @ 3.974%(Bond yield)...................................,.......................,.............,.......................................... 24,363.63 Contingency or Rounding Amount...........,..............................................,.................................................................................. 58.. Net Present Value Benefit.......................,.....,.................................,..............................,......,.............,.,.......,.......,.....,.. ....,...... S24,421.88 Net PV Benefit 1 $609,654,85 PV Refunded Debt Service.......,......,..,................,....,..,..............................,....,........,................. 4,006% Net PV Benefit 1 $615,000 Refunded PrincipaL,...........,......................,.....,....,..........."..................,..,...,...".."....................... 3,971% Net PV Benefit 1 $650,000 Refunding PrincipaL.....,..".................................,..........,.........,....,...........................,.......,.,..,.,...., 3.757% Refunding Bond Information Refunding Dated Date..,..,...........................,....................................,..,...................,....."..............................,.............. ............. 3/01/2005 Refunding Delivery Date............................,..................,.......................,............................................................,..,............,. ...... 3/01/2005 OOre! I SINGLE PURPOSE I 1/1412005 I 2:19 PM Northland Securities Public Finance Page 2 Preliminary City of Saint Joseph EDA, Minnesota Revenue Refunding Bonds of 2005 2000 . Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 03/01/2005 - . - - - 12/01/2005 - - 18,830.63 18,830.63 18,830.63 06/01/2006 - - 12,553.75 12,553.75 - 12/01/2006 - - 12,553.75 12,553.75 25,107.50 06/01/2007 - - 12,553.75 12,553.75 - 12/01/2007 - - 12,553.75 12,553.75 25,107.50 06/01/2008 - - 12,553.75 12,553.75 - 12/01/2008 70,000.00 3.150% 12,553.75 82,553.75 95,107.50 06/01/2009 - - 11,451.25 11,451.25 - 12/01/2009 75,000.00 3.350% 11,451.25 86,451.25 97,902.50 06/01/2010 - - 10,195.00 10,195.00 - 12/01/2010 75,000.00 3.550% 10,195.00 85,195.00 95,390.00 06/01/2011 - - 8,863.75 8,863.75 - 12/01/2011 80,000.00 3.750% 8,863.75 88,863.75 97,727.50 06/01/2012 - - 7,363.75 7,363.75 - 12/01/2012 85,000.00 3.950% 7,363.75 92,363.75 99,727,50 06/01/2013 - - 5,685.00 5,685.00 - 12/01/2013 80,000.00 4.150% 5,685.00 85,685.00 91,370.00 06/01/2014 - - 4,025.00 4,025.00 - . 12/0112014 90,000.00 4.300% 4,025.00 94,025.00 98,050.00 06/01/2015 - - 2,090.00 2,090.00 - 12/01/2015 95,000.00 4.400% 2,090.00 97,090.00 99,180.00 Total $650,000,00 - $193,500.63 $843,500.63 - Dated..........................................................,........................................................................................................................... 3/01/2005 Delivery Date.................................,............................................................................................... ...............'......................... 3/01/2005 First Coupon Date..................... ...... ...................................... ........ ...... ......... .................................... ,....................... ...........,... 12/01/2005 First available call date........,.............. ........ ......... ....,............. ................ ........ ........................................... ............................... Call Price......... '.. ................. ........................ .......... ..,..,'.......,... '............................. .......... .........,.....'....... ................................ - Bond Year Dollars................ .............. ......... .............. ........_... ........ ...... ............................. ....................................................... $4,847.50 Average Life.............................. '.....'.......,.....'........................................'...............................,...................................... .... ...... 7.458 Years Average Coupon.......... ............... .............. ................ ......... ...... ............... ........... ........... ................. ...... ..................... ....,......... 3.9917613% Net Interest Cost (NIC).......................................... ......... ....... .............. ...... ................. .............. ............... ................................ 4.2545772% True Interest Cost (TIC).................,......................, ....... ........... ................................... .......... ,............ ........... ...... .................... 4,2865081 % Bond Yield for Arbitrage Purposes..,..,..,..,..,.. ....................................... ..... ........ ...... ...............................' ................ ............... 3.9740150% Net Interest Cost......................,.......,.... ....' ..'............. ..... .................. ..... .....'.... ....'.................................................................. 3.9917613% Weighted Average Maturity.............. ......... ........ ............ ......................... ....... ..... ................. .......................... ...... .................... 7,458 Years . OOref I SINGLE PURPOSE I 1/14/2005 I 2:19 PM Northland Securities Public Finance Page 3 Preliminar City of Saint Joseph EDA, Minnesota Revenue Bonds of 2000 . Debt Service To Maturity And To Call Refunded Date Bonds Premium Interest to Call D/S To Call Principal Coupon Interest Refunded D/S Fiscal Total 06/01/2005 19,538.75 19,538.75 - 19,538,75 19,538.75 12/01/2005 19,538.75 19,538,75 5.900% 19,538,75 19,538.75 39,077.50 06/01/2006 19,538.75 19,538.75 19,538.75 19,538.75 12/01/2006 19,538,75 19,538.75 - 5.950% 19,538.75 19,538.75 39,077.50 06/01/2007 19,538.75 19,538,75 - 19,538.75 19,538.75 12/01/2007 615,000.00 1,537.50 19,538.75 636,076.25 6.000% 19,538.75 19,538.75 39.077.50 06/01/2008 19,538.75 19,538.75 12/01/2008 . 60,000.00 6.100% 19,538.75 79,538.75 99,077.50 06/01/2009 - 17,708,75 17.708.75 12/01/2009 . - 65,000.00 6,150% 17,708.75 82,708.75 100,417.50 06/01/2010 15.710.00 15,710.00 12/01/2010 - 70,000.00 6.250% 15.710.00 85,710,00 101,420.00 06/01/2011 13,522.50 13,522.50 12/01/2011 75,000.00 6.300% 13,522,50 88,522.50 102,045.00 06/01/2012 11,160.00 11,160.00 12/01/2012 80,000.00 6,350% 11,160.00 91,160.00 102,320.00 06/01/2013 8,620,00 8,620.00 12/01/2013 - 80,000.00 6.400% 8,620,00 88,620.00 97,240.00 06/01/2014 6,060,00 6,060.00 12/01/2014 90,000.00 6.500% 6,060.00 96,060.00 102,120.00 06/01/2015 3,135.00 3.135.00 101,.; 12/01/2015 95,000,00 6.600% 3,135.00 98,135.00 Total $615,000,00 51,537.50 5117,232,50 5733,770.00 $615,000,00 5308,142.50 $923.142.50 Yield Statistics Average Life,.. ............ ............ ......... .................. ... ...... ...... ......... ...... .... ... ...... ..... ..,... ,'. ..."........ ,.. ,..... .,. .'.... ..'.. ..,... ,..... .... ...... ............... .... 7.579 Years Weighted Average Maturity {Par Basis),..... '... ,....'...........'................... .......... ................. .........................,........ ....' '.. ............... ,........ ..,....,.. ......... 7.579 Years Average Coupon....................... '........... ................... ............... ............. ................' .........,..... ............. ....'............................ .......................'.. 6.4011397% Refunding Bond Information Refunding Dated Date........,.............................................,............... ...... ...... .............................. '.............................,......... ......,..................... 3/01/2005 Refunding Delivery Date......... .......................................... ............ ,.................................. ..... ....................,.....,.................. ,.............'... ...,....... 3/01/2005 OOold I SINGLE PURPOSE I 1/1412005 I 2:19 PM Northland Securities . Public Finance . vOOZ/9 ~/Z ~ vOOZH ZH ~ vOOZ/LZ/O ~ >< vOOZ/ZIO ~ W vOOZ/ L/6 C VOOZ/£ ~/9 I Z VOOZ/6 ~/L - C/J vOOZ/vZI9 - ~ vOOZI0£/9 I W vOOZ/9/9 >- ::) vOOZIO ~/v m vOOZI9~/8 C vOOZ/OZ/Z I Z - vOOZ/9ZH 0 vOOZH/~ . ! CD I ...J £OOZI LIZ ~ I <C I £OOZIZ ~n ~ I c.. £00Z/9 ~/O ~ I - U £00ZI£Z/6 - Z £00Z/6Z/9 ::) £00Z/v/9 I ~ I £OOZIO ~/L I I ...J <C £00Z19 ~/9 I Z £OOZI ~ Z/9 I 0 I £00Z/9Z/v - r- £0021 ~/v <C ,- £OOZILI£ Z £OOZIO ~/Z £00Z19 ~/~ . ?ft, :::R :::R ?ft, :::R :::R :::R :::R ?ft, 0 0 0 0 0 0 0 L{) 0 L{) 0 L{) 0 L{) 0 I 0 ¡-... L{) N 0 ¡-... L{) N 0 <D L{) L{) L{) L{) ~ ~ ~ ~ -------.J NORTHLAND (þ SEC U RI TIES ~ .J.{~ t'! J~' . January 21,2005 C ¡ T ~_.. (\:: Ert Judy Weyrens, Administrator St. Joseph City Hall P.O. Box 688 St. Joseph, MN 56374-0688 RE: DEBT SERVICE SCHEDULES FOR G.O. IMPROVEMENT BONDS, SERIES 2005-A Dear Judy, Enclosed are two debt service schedules for the proposed G.O. Improvement Bonds, Series A that will provide financing for the Hill Street and Cloverdale improvement projects. One schedule (titled 42905) would use a negotiated bond sale process and the second schedule (titled 42905PUB) would use a public bond sale process. The major difference between the two methods is that in the public sale, both an underwriter's fee and a financial advisory fee would be part of the issuance expenses; whereas in . the negotiated sale process, only an underwriter's fee would be part of the issuance expenses. With lower issuance expenses, the size of the negotiated sale is $5,000 smaller than the size of the public sale bond issue. Adding issuance related expenses to the construction costs, the bonds will be sized at either $1,665,000 or $1,660,000. The proposed sale date for the bonds will be either February 24th or March 3rd. Approximately 76% of the revenue sources needed for debt payments will come from special assessments. The interest rate on the special assessments is assumed to be at 6.00%. The balance ofrevenues required for debt payment will come from annual tax levies. If you have any questions regarding the enclosed information, please do not hesitate to call me at 1-800-851-2920. Very truly yours, Northland Securities, fllc. ~* Monte Eastvold Vice President, Partner ME/pcc . Enclosures Northland Securities. rnc. 45 Sourh 7 th Street, Suite 2500, Minneapolis. 1fN 55402 T,'; Fcc" 1-800-851-2920 '.{,:, 612-851-5900 re', 612-851-5987 v,ww. nort hlandsecuri ties .com ¡'1ember NAsa and SIPC 42905PUB CITY OF ST. JOSEPH, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS OF 2005, SERIES A Est. Tota/ Statutory Special Annual (12-1) Interest Debt 5.00% Cap. Other Assessment Tax Surplusl Cumulative Year Principal Rate Interest Pa ment Covera e Interest Revenues Income Levy Deficit Balance 2005 ° 0.00% 46,262 46,262 46,262 87,384 0 6,381 0 47,502 47,502 2006 90,000 2.25% 61,683 151,683 159,267 0 161,647 21,000 23,380 70,883 2007 90,000 2.50% 59,658 149,658 157,140 0 156,542 22,000 21,402 92,284 2008 90,000 2.75% 57,408 147,408 154,778 ° 151,438 23,000 19,660 111 ,944 2009 95,000 3.00% 54,933 149,933 157,429 0 146,333 24,000 12,904 124,848 2010 100,000 3.20% 52,083 152,083 159,687 0 141,228 25,000 6,542 131,389 2011 100,000 3.40% 48,883 148,883 156,327 0 136,124 26,000 5,797 137,186 2012 105,000 3.60% 45,483 150,483 158,007 0 131,019 26,500 -488 .136,699 2013 110,000 3.80% 41 ,703 151,703 159,288 0 125,914 27,000 -6,373 130,326 2014 110,000 4.00% 37,523 147,523 154,899 ° 120,810 28,000 -6,089 124,237 '2015 115,000 4.10% 33,123 148,123 155,529 0 115,705 30,000 -9,824 114,413 2016 120,000 4.20% 28,408 148,408 155,828 0 110,600 31,000 -14,227 100,186 2017 125,000 4.25% 23,368 148,368 155,786 0 105,496 32,000 -18,290 81,896 ~018 130,000 4.30% 18,055 148,055 155,458 0 100,391 33,000 -22,067 59,829 W19 135,000 4.40% 12,465 147,465 154,838 0 95,287 34,000 -25,552 34,277 ~020 145,000 4.50% 6,525 151,525 159,101 ° 90,182 35,000 -33,919 358 1,660,000 627,557 2,287,557 2,399,622 87,384 0 1,895,096 417,500 358 2005 Improvement Project (A) 1,521,134 Est. Amount of Assessments: $1,276,159 . Less: City Cash Contribution ° Percentage of Issue Assessed: 76.88% Total Hard Costs 1,521,134 Interest Rate on Assessments: 6.00% Add: Issuance Expenses First Installment Collection: 2006 Est. Underwriter's Discount @1.60% 26,560 Number of Annual Installments: 15 Capitalized Interest (17 Months) 87,384 Start Date of Assessments: 11/30/2005 Est. Financial Advisory Fee 14,900 Est. Bond Counsel 5,000 ;~Qi)~:~mprºv~m~ot::Êi,(qJ~çtŽ:~~1:::I:mmmm'm:mmmm:m:mm:'Cii"i:i Fairness Opinion ° Est. County Auditor Fee/O.S. Printing 850 Hill Street Project (& H20 Pumps) 794,067 Est. Rating Fee 5,300 Cloverdale Project 429,240 Est. Registration (One-Time Fee) 5,575 Subtotal: 1,223,307 Total 1,666,702 Less: Investment Income -4,931 Est. Contingenicies (5%) 59,565 Est. Engineering Fees (20%) 238,261 Rounded For Issuance 111,660,00011 Total Improvement Costs: 1,521,134 Bonds Dated: 3/1/2005 Bonds Mature: 1211/06 Through 12/1/20 Interest Payments: 12/1/05 & Semiannually Each 6/1 & 12/1 Thereafter. Call Option: Callable 12/1/2012 @ Par Plus Accrued Interest. Registrar/Pay Agent: Northland Trust Services Purchase Price: $1,633,440 Est. Average Coupon: 4.0241% Est. Net Effective Rate: 4.1944% Est. Bond Sale Date: March 3, 2005. Est. Bond Closing Dat.e: March 24, 2005. Bond Counsel: Briggs & Morgan, PA Monte Eastvold, V.P., Partner Northland Securities, Inc. Dated: 1/21/2005 42905PUB CITY OF ST. JOSEPH, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS OF 2005, SERIES A . Estimated Estimated Assessment Interest Assessment Assessment Interest Assessment Year Princi al 6.00% . Income Princi al 6.00% Income 2005 0 3,881 3,881 0 2,499 2,499 2006 51,752.33 46,577 98,329 33,324.93 29,992 63,317 2007 51,752.33 43,472 95,224 33,324.93 27,993 61,318 2008 51,752.33 40,367 92,119 33,324.93 25,993 59,318 2009 51,752.33 37,262 89,014 33,324.93 23,994 57,319 2010 51,752.33 34,157 85,909 33,324.93 21,994 55,319 2011 51,752.33 31,051 82,804 33,324.93 19,995 53,320 2012 51,752.33 27,946 79,699 33,324.93 17,995 51,320 2013 51,752.33 24,841 76,593 33,324.93 15,996 49,321 2014 51,752.33 21,736 73,488 33,324.93 13,996 47,321 2015 51,752.33 18,631 70,383 33,324.93 11,997 45,322 2016 51,752.33 15,526 67,278 33,324.93 9,997 43,322 2017 51,752.33 12,421 64,173 33,324.93 7,998 41,323 2018 51,752.33 9,315 61,068 33,324.93 5,998 39,323 2019 51,752.33 6,210 57,963 33,324.93 3,999 37,324 2020 51,752.33 3,105 54,857 33,324.93 1,999 35,324 776,284.95 376,498 1,152,783 499,873.95 242,439 742,313 . Annual Tax Residential Market Value Est. Tax Capacity Capacity $100,000 $150,000 $200,000 Tax Value Incr. Rate Net Tax Capacity Year Levy 5.00% Increase $1,000 $1,500 $2,000 2005 0 1,345,068 2006 21,000 1,412,321 1.49% 14.87 22.30 29.74 2007 22,000 1,482,937 1.48% 14.84 22.25 29.67 2008 23,000 1,557,084 1.48% 14.77 22.16 29.54 2009 24,000 1,634,939 1.47% 14.68 22.02 29.36 2010 25,000 1,716,685 1.46% 14.56 21.84 29.13 2011 26,000 1,802,520 1.44% 14.42 21.64 28.85 2012 26,500 1,892,646 1.40% 14.00 21.00 28.00 2013 27,000 1,987,278 1.36% 13.59 20.38 27.17 2014 28,000 2,086,642 1.34% 13.42 20.13 26.84 2015 30,000 2,190,974 1.37% 13.69 20.54 27.39 2016 31,000 2,300,523 1.35% 13.48 20.21 26.95 2017 32,000 2,415,549 1.32% 13.25 19.87 26.50 2018 33,000 2,536,326 1.30% 13.01 19.52 26,02 2019 34,000 2,663,143 1.28% 12.77 19.15 25.53 2020 35,000 2,796,300 1.25% 12.52 18.77 25.03 417,500 Average Annuallncr: $13.86 $20.79 $27.71 Average Monthly Incr: $1.15 $1.73 $2.31 Monte Eastvold, V.P., Partner Northland Securities, Inc. Dated: 1/21/2005 42905 CITY OF ST. JOSEPH, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS OF 2005, SERIES A Est. Total Statutory Special Annual (12-1) Interest Debt 5.00% Cap. Other Assessment Tax Surplus/ Cumulative (ear Principal Rate Interest Payment Coverage Interest Revenues Income Levy Deficit Balance ~005 0 0.00% 46,142 46,142 46,142 87,157 0 6,381 0 47,396 47,396 ~006 90,000 2.25% 61,523 151,523 159,099 0 161,647 20,000 22,548 69,944 ~007 90,000 2.50% 59,498 149;498 156,972 0 156,542 21,000 20,570 90,514 ~008 90,000 2.75% 57,248 147,248 154,610 0 151;438 22,000 18,828 109,341 ~009 95,000 3.00% 54,773 149,773 157,261 0 146,333 23,000 12,072 121,413 .010 95,000 3.20% 51,923 146,923 154,269 0 141,228 24,000 10,960 132,373 ,011 100,000 3.40% 48,883 148,883 156,327 0 136,124 25,000 4,797 137,170 012 105,000 3.60% 45;483 150;483 158,007 0 131,019 26,000 -988 136,182 ,013 110,000 3.80% 41,703 151,703 159,288 0 125,914 27,000 -6,373 129,809 014 110,000 4.00% 37,523 147,523 154,899 0 120,810 28,500 -5,589 124,220 015 115,000 4.10% 33,123 148,123 155,529 0 115,705 30,000 -9,824 114,396 016 120,000 4.20% 28;408 148;408 155,828 0 110,600 31,000 -14,227 100,169 017 125,000 4.25% 23,368 148,368 155,786 0 105;496 32,000 -18,290 81,879 018 130,000 4.30% 18,055 148,055 155;458 0 100,391 33,000 -22,067 59,812 )19 135,000 4.40% 12;465 147;465 154,838 0 95,287 34,000 -25,552 34,261 )20 145,000 4.50% 6,525 151,525 159,101 0 90,182 35,000 -33,919 341 1,655,000 626,637 2,281,6372,393;412 87,157 0 1,895,096 411,500 341 -r-005 Improvement Project (A) 1,521,134 Est. Amount of Assessments: $1,276,159 - Less: City Cash Contribution 0 Percentage of Issue Assessed: 77.11 % Total Hard Costs 1,521,134 Interest Rate on Assessments: 6.00% Add: Issuance Expenses First Installment Collection: 2006 Underwriter's Discount @1.960% 32;438 Number of Annual Installments: 15 Est. Capitalized Interest (17 Months) 87,157 Start Date of Assessments: 11/30/2005 Financial Advisory Fee 0 Est. Bond Counsel 5,000 ;,žQij~:¡Jmp~øv~ìTIÊWÔì':Ê"'QJøPf;¡I(~)¡WWW::,,:,::::,¡:'HmIH,."""U Est. Fairness Opinion 2,000 Est. County Auditor Fee/O.S. Printing 850 Hill Street Project (& H20 Pumps) 794,067 Est. Rating Fee 5,300 Cloverdale Project 429,240 Est. Registration (One-Time Fee) 5,575 Subtotal: 1,223,307 Tota/ 1,659;454 Less: Investment Income -4,931 Est. Contingenicies (5%) 59,565 Est. Engineering Fees (20%) 238,261 Rounded For Issuance 111,655,0001/ Total Improvement Costs: 1,521,134 Bonds Dated: 3/1/2005 Bonds Mature: 12/1/06 Through 12/1/20 Interest Payments: 12/1/05 & Semiannually Each 6/1 & 12/1 Thereafter. Call Option: Callable 12/1/2012 @ Par Plus Accrued Interest. Registrar/Pay Agent: Northland Trust Services Purchase Price: $1,622,562 Est. Average Coupon: 4.0256% Est. Net Effective Rate: 4.2340% Est. Bond Sale Date: February 24, 2005. Est. Bond Closing Date: March 17, 2005. Bond Counsel: Briggs & Morgan, PA Monte Eastvold, V.P., Partner Northland Securities, Inc. Dated: 1/21/2005 42905 CITY OF ST. JOSEPH, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS OF 2005, SERIES A Clov9rdale '.. . Assessments Estimated Estimated Assessment Interest Assessment Assessment Interest Assessment Year Princi al 6.00% Income Princi al 6.00% Income 2005 0 3,881 3,881 0 2,499 2,499 2006 51,752.33 46,577 98,329 33,324.93 29,992 63,317 2007 51,752.33 43,472 95,224 33,324.93 27,993 61,318 2008 51,752.33 40,367 92,119 33,324.93 25,993 59,318 2009 51,752.33 37,262 89,014 33,324.93 23,994 57,319 2010 51,752.33 34,157 85,909 33,324.93 21,994 55,319 2011 51,752.33 31,051 82,804 33,324.93 19,995 53,320 2012 51,752.33 27,946 79,699 33,324.93 17,995 51,320 2013 51,752.33 24,841 76,593 33,324.93 15,996 49,321 2014 51,752.33 21,736 73,488 33,324.93 13,996 47,321 2015 51,752.33 18,631 70,383 33,324.93 11,997 45,322 2016 51,752.33 15,526 67,278 33,324.93 9,997 43,322 2017 51,752.33 12,421 64,173 33,324.93 7,998 41,323 2018 51,752.33 9,315 61,068 33,324.93 5,998 39,323 2019 51,752.33 6,210 57,963 33,324.93 3,999 37,324 2020 51,752.33 3,105 54,857 33,324.93 1,999 35,324 776,284.95 376,498 1,152,783 499,873.95 242,439 742,313 ~ - act Anal Annual Tax Est. Tax Capacity Capacity Tax Value In cr. Rate Year Lev 5.00% Increase $1,000 $2,000 2005 0 1,345,068 2006 20,000 1,412,321 1.42% 14.16 21.24 28.32 2007 21,000 1,482,937 1.42% 14.16 21.24 28.32 2008 22,000 1,557,084 1.41% 14.13 21.19 28.26 2009 23,000 1,634,939 1.41% 14.07 21.10 28.14 2010 24,000 1,716,685 1.40% 13.98 20.97 27.96 2011 25,000 1,802,520 1.39% 13.87 20.80 27.74 2012 26,000 1,892,646 1.37% 13.74 20.61 27.47 2013 27,000 1,987,278 1.36% 13.59 20.38 27.17 2014 28,500 2,086,642 1.37% 13.66 20.49 27.32 2015 30,000 2,190,974 1.37% 13.69 20.54 27.39 2016 31,000 2,300,523 1.35% 13.48 20.21 26.95 2017 32,000 2,415,549 1.32% 13.25 19.87 26.50 2018 33,000 2,536,326 1.30% 13.01 19.52 26.02 2019 34,000 2,663,143 1.28% 12.77 19.15 25.53 2020 35,000 2,796,300 1.25% 12.52 18.77 25.03 411,500 Average Annuallncr: $13.60 $20.41 $27.21 Average Monthly Incr: $1.13 $1.70 $2.27 Monte Eastvold, V.P., Partner Northland Securities, Inc. Dated: 1/21/2005 I Attachment: Yes or No I . REQUEST FOR COUNCIL ACTION DATE: January 26,2005 EDA ORIGINATING DEPARTMENT DEPARTMENT APPROVAL AGENDA ITEM EDA monthly report. PREVIOUS ACTION None. - .~ RECOMMENDED BOARD ACTION For review and approval. FISCAL IMPACT N/A. COMMENTS/RECOMMENDATIONS EDA monthly report offered for your review and approval. ~. . MUNICIPAL DEVELOPMENT GROUP, INC. DATE: January 26, 2005 MEMO TO: Honorable Mayor Carlbom Members of the City Council City Administrator Weyrens FROM: JVV\ F (lS. Joanne Foust & Cynttila Smith-Strack, Municipal Development Group RE: Economic Development Activity Report January 2005 Municipal Development Group, Inc. has been interacting with a number of prospects throughout the past three and a half years. Following is a summary of activities that have transpired. If you have any questions on any of these or other projects, please do not hesitate to contact us at 952-758-7399. A project number has been assigned to protect the confidentiality of the businesses prospects. Project 01-E: This project involves the expansion of a service within the community. MDG has been keeping in touch with the project contact over the ~ast three and a half years. The latest contacts with the prospect occurred on - January 5th, 15th, 19th and 24t . --- Project 01-F: This company has been in contact with the EDA regarding potential sites for a commercial business since August, 2001. MDG has forvvarded the contact information on a number of commercia! sites at various times throughout the previous three and a half years. MDG and the development contact spoke on January 5th and 19th. Project 01-1: This business originally contacted the City in 2001. In 2002 they noted their project was on-hold. The company contacted MDG again in June of this year requesting information on available commercial sites in the City. MDG has forvvarded additional information and remained in contact with this prospect, most recently on January 5th via email and January 26th by phone. Proiect 02-R: This contact owns a business in the area and is currently leasing space. Earlier in the year the developer entered an agreement to purchase an 8+ acre industrial site in the City. The developer is not prepared to undertake development on the parcel at this time. MDG continues to remain in contact with the prospect most recently on January 5th via em ail. Project 02-FF: This prospect phoned the City in late December 2003 inquiring about a specific lot in the Buettner Business Park. MDG, Inc. remains in contact with the prospect most recently on January 5th. Project 03-A: These developers are interested in a large highway commercial development in an area not yet annexed into the City. MDG has been working with them over the past few years. Follow up and discussion continues on a routine basis. Latest contact occurred via phone on January 19th and 25th and via em ail on the 26th. EDA Monthly Project Report - January 2005 Page 1 Project 03-1: · This lead contacted the City in search of S,OOO s.f. of retail space to lease. MDG, Inc. remains in contact with this prospect, most recently on January Sth. Project 03-S: MDG, Inc. has been meeting with representatives of an estate which includes several acres of land guided for future industrial development. MDG, Inc. has met with representatives on several occasions and continues to work on the project. A purchase agreement has reportedly been negotiated. Project 03-U: Inquiry forwarded to MDG in October 2003 regarding a commercial development in St. Joseph. MDG, Inc. remains in contact with the prospect regardin~ the project. MDG spoke with the prospect briefly on January 12th and emailed the project contact on the 26 . Project 04-8: This developer purchased an industrial lot in the City earlier in the year. The prospect has no immediate construction plans. MDG follows up with the prospect routinely offering to assist as needed. MDG most recently followed up on January Sth. Project 04-D: MDG contacted the owner of industrial acreage within the corporate limits regarding interest in re-subdividing and marketing industrial lots. The property owner expressed an interest in ~ossibly re-subdividing. MDG followed up with the project representative on January 4th, Sth, 12th and 1i. MDG met with the project representative on January 19th. Proiect 04-E: This prospect contacted MDG' in April regarding demographic and economic development data for St. Joseph. The prospect was considering a leasing commercial retail space in the community near the · Wobegon Trail. This project is currently inactive but occasional follow-up is pursued, including most recently via mail on January SUi and by phone on the 19th. Project 04-F: This prospect contacted MDG in May of 2004 regarding commercial lease space in the downtown area. MDG remains in contact with this prospect nearly each week with follow up on January 5th, 1ih and 19th. Project 04-H: MDG met with a representative for this project regarding a building in the downtown which has been listed for sale. The sale of the building closed on January 11th, MDG followed up with the new properties owners on January 19th to welcome them to the community and congratulate them on their purchase. A meeting regarding rehabilitation of the site was scheduled for January 26th. Project 04-K: A representative from Project 04-K contacted the City in August regarding office lease space. MDG forwarded information regarding previous inquiries for office space (as authorized for distribution) and regarding current lease space available. MDG remains in contact with the development representative, including exchanges on December 29th and January 5th, 1ih, 19th, 25th and 26th. Project 04-M: This business is currently located in another community and is considering relocating to St. Joseph. This contact has secured the services of an architect and an attorney. Follow up continues most recently on January Sth (phone), January 1ih (meeting) and January 18th (phone). The prospect made presentations to City staff and the EDA on January 19th, Follow up occurred with the development representative on January 21st and January 29th. · EDA Monthly Project Report - January 2005 Page 2 Project 04-N: This business owner contacted the City in September regarding available industrial acreage. MDG · representatives have met with the prospect on a few occasions and remains in contact with the prospect on at least a weekly basis, including December 29th and 30th and January 5th, 12th, 19th and 26th. Project 04-0: This prospect contacted MDG in November requesting information on existing commercial lease space and vacant acreage available for purchase. MDG remains in contact with this prospect including most recently on December 29th and January 19th and 26th. This prospect has indicated he has been contacted by Project 01-1 re: potential lease deal. Project 04-P: This prospect contacted MDG in November to review applicable zoning standards, the process for rezoning and site plan review and redevelopment TI F for a parcel in the northern portion of the City. Also discussed redevelopment tax increment financing. Additional information was requested provided on December 29th. Follow up last occurred on January 5th and January 19th. Project 04-0: This prospect contacted the City in December regarding a possible redevelopment project. MDG met with the prospect on December 29th. MDG followed up after the meeting including via mail on January 26th · · EOA Monthly Project Report - January 2005 Page 3 Stearns County Chiefs of Police Association Presents . Lt. Colonel Dave Grossman Director of Killolo2Y Research Group \lnÃ'Rg~q~X "jt.~êo P$ychoJogict:;d C()sfof Learning to Kilf Presentation: How Kids are Learning to Kill and Learning to Like It When: Wednesday, February 9,2005 ¡ " B'rm' 'TECIHN( t')- :'-. ~{~ -_1~_:_-1-_~_,:; 6:00 P.M. -10:00 P.M. 'OUH KIDS 'l'ö., Krl,L.,.,..'.¡ Where: St. John's University Stephen B. Humphrey Theater Cost: $20.00 per person $15.00 per person with 2 or more from the same agency/school/business . *Registration will be held to the first 520 participants. *Ifyou have special needs, please contact Shawn Vierzba, St. John's University, P.O. Box 2000, Collegeville, MN 56321; Phone: 320-363-2144; svierzba@csbsju.edu *Registration fee includes presenter and break reÍÌeshments. Description of Presentation: "Lessons from Jonesboro, Littleton, and Vietnam: How Kids are Learning to Kill and Learning to Like It." Col. Grossman is one of the world's leading experts on the causes of violent crime. He is the author of the critically acclaimed book, Stop Teaching Our Kids to Kill, has testified before US Senate and US Congressional Committees, and has written numerous encyclopedia entries on the subject of violence and aggression. Col. Grossman served as a key trainer of school and mental health professionals in the aftermath of the Jonesboro, Ark., school shooting; he was a consultant in the trial of the Paducah, Kentucky school shooting; and he trained emergency, police and civic groups in the aftermath of the Springfield, Oregon and Littleton, Colorado school shootings. Who should attend: Educators, Parents, Community Leaders, Law Enforcement . Stearns County Chiefs of Police Association Attendee Registration Form How Kids are Learning to Kill and Learning to Like It . -- - Date: Wednesday, February 9, 2005 ¡ STOP ¡ TEA{:I-~I \(~ Time: 6:00 P.M. - 10:00 P.M. I OUH!<IDS I TO KILL ! Location: St. John's University , Stephen B. Humphrey Theater Registration: Name: Profession I Job Title: Agency or Department Name: Agency or Department Address: . Daytime Phone: L-J Email: Make check payable to: Stearns County Chiefs of Police Association Send check & registration to: St. John's University Shawn Vierzba P.O. Box 2000 Collegeville, MN 56321 Federal ID # 41-1639981 .