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08.01.22
CITY OF ST. JOSEPH www.cityofstjoseph.com 75 Callaway Street East | Saint Joseph, Minnesota 56374 Email: cityoffices@cityofstjoseph.com | Phone: 320.363.7201 | Fax 320.363.0342 St. Joseph City Council August 1, 2022 6:00 PM **The City Council meeting will be conducted in-person in the council chambers of the St. Joseph Government Center. Members of the public can attend in-person or via Zoom. ** Join Zoom Meeting https://us06web.zoom.us/j/87367875758?pwd=cjBtSEFjSlhLQnlhNlVTYU9pbEJrdz09 Meeting ID: 873 6787 5758 Passcode: 506247 Dial by your location +1 929 205 6099 US (New York) +1 301 715 8592 US (Washington DC) +1 312 626 6799 US (Chicago) +1 669 900 6833 US (San Jose) +1 253 215 8782 US (Tacoma) +1 346 248 7799 US (Houston) 1. 6:00 PM Call to order - Pledge of Allegiance 2. Public Comments Up to 3 speakers will be allowed for up to 3 minutes each to address the council with questions/concerns/comments (regarding an item NOT on the agenda). No Council response or action will be given/taken other than possible referral to Administration. 3. Approve Agenda 4. Consent Agenda a. Minutes – Requested Action: Approve the minutes of July 18, 2022. b. Bills Payable – Requested Action: Approve Check Numbers 059319-059376, Account Payable EFT #002062-002065; Payroll EFT 112267-112272, Regular Pay Period 15. c. Resignation – Requested Action: Accept the resignation of the Finance Technician and authorize staff to post the position for hire. d. Transfers – Requested Action: Authorize the 2022 transfers as presented. e. Fire Department Rescue Van Bid Acceptance – Requested Action: Adopt Resolution 2022-040 Accepting the bid from Saint John’s Fire Department for the sale of the 2012 Ford E450 ambulance in the amount of $70,000. f. Klinefelter Park Shelter Addition – Requested Action: Approve Mike Schlangen Construction Co. In. proposal as presented. 5. Northland Securities, Tammy Omdal a. Bond Sale b. Debt Management Study 6. Special Event Requests a. Millstream Arts Festival Permit Amendment b. Rock for Alzheimer’s 7. Community Center Campaign Name and Donation 8. 2023 Capital Plans/Debt Budget Discussion 9. Downtown Two-Hour Parking 10. Mayor Reports CITY OF ST. JOSEPH www.cityofstjoseph.com 75 Callaway Street East | Saint Joseph, Minnesota 56374 Email: cityoffices@cityofstjoseph.com | Phone: 320.363.7201 | Fax 320.363.0342 11. Closed Meeting – Pursuant to MN Statute 13D.05, Subd. 3(c)(3), the City Council will enter into closed session to develop an offer to purchase real estate located at 13 2nd Ave NW. 12. Closed Meeting – Pursuant to MN Statute 13D.05, Subd. 3(c)(3), the City Council will enter into closed session to consider purchasing a portion of parcel 84.53360.0006. 13. Adjourn July 18, 2022 Page 1 of 2 Pursuant to due call and notice thereof, the City Council for the City of St. Joseph met in regular session on Monday, July 18, 2022, at 6:00PM in the St. Joseph Government Center. Members Present: Mayor Rick Schultz, Councilmembers Kelly Beniek, Jon Hazen, Bob Loso Absent: Kevin Kluesner City Representatives Present: Administrator Therese Haffner, Finance Director Lori Bartlett, Public Works Director Ryan Wensmann, City Clerk Kayla Klein, Community Development Director Nate Keller, City Engineer Randy Sabart, Police Chief Dwight Pfannenstein, City Attorney Sue Dege Approve Agenda: Loso motioned to approve the agenda; seconded by Hazen and passed unanimously by those present. Consent Agenda: Hazen motioned to approve the consent agenda; seconded by Loso and passed unanimously by those present. a. Minutes – Requested Action: Approve the minutes of July 5, 2022. b. Bills Payable – Requested Action: Approve Check Numbers 059247-059318, Account Payable EFT #002062-002065; Payroll EFT 112261-112266, Regular Pay Period 14, 14.01; Council Pay Period 7, Fire Dept. Pay Period 2. c. Donations – Requested Action: Accept the donations as presented. d. Finance Report – Requested Action: Accept the June 2022 financial report as presented. e. Temporary Liquor License – Requested Action: Approve the Temporary Liquor License Application submitted by Bad Habit Brewing Co. for an event to be held at W|R Home Company. Kennedy Community School Safe Routes to School Plan: St. Cloud APO staff drafted a Safe-Routes-To- School Plan. The intent of the plan is to identify deficiencies and safety improvements in order to increase and encourage a safe walk and bike to school environment. Keller noted that city staff had only attended one meeting for the plan with the majority of the plan already being drafted. Council expressed disappointment that staff was not more involved in the process and by consensus were not willing to approve of the plan for that reason. Moratorium on THC: Klein presented the draft Ordinance that would implement up to a one-year moratorium on the sale of hemp derived THC food and beverages in the City of St. Joseph. Approval of the moratorium would allow for the city to have time to study the issue and determine how to move forward with licensing and regulations. Schultz asked why the moratorium was for a period of 1 year. Klein and City Attorney Dege noted that state statute allows for up to a year. If the city is able to have an ordinance drafted prior to one year, then this ordinance can be rescinded. Loso moved to adopt Ordinance 2022-007 Imposing a Moratorium on the Sale of Hemp-Derived THC in the City of St. Joseph; seconded by Beniek and passed unanimously by those present. Transportation Plan Update – Sidewalks/Trails: The City’s Transportation Plan was adopted in 2012. Updates to the plan help the city reference specific projects when submitting applications for grants. Keller provided the council with the updated map. Loso moved to approve the updated Transportation Plan map; seconded by Hazen and passed unanimously by those present. 2-hour Parking Signs: Schultz noted that previous discussions were had at the work session regarding the addition of 2-hour parking signs along College Ave N. Councilmember Beniek was not in favor of acting on the item due to it being added to the agenda late. Schultz moved to table discussion on 2-hour parking until the August 15th meeting; seconded by Hazen and passed unanimously. July 18, 2022 Page 2 of 2 City Administrator Performance Review Process: Schultz presented the council with a performance review packet for the City Administrator. Each Councilmember and Staff department heads are to complete the paperwork, submit to City Hall, and there would be a separate meeting to discuss the results. Councilmember Beniek expressed concerns with the process. She requested that the City labor attorney facilitate the process in order for it to be fair and unbiased. Hazen made a motion to have City Attorney Dege review the performance review packet, make changes as necessary, and facilitate the review process of the City Administrator. The motion was seconded by Loso and passed unanimously by those present. It was clarified that all review packets distributed by Dege would be returned to Dege. After, Dege would compile the results and present those at a future council meeting. Department Reports: The various departments presented their monthly reports. Mayor Reports: Schultz reported that he was appointed as a member of the League of MN Cities Board of Directors. Closed Meeting: Hazen moved to have the City Council enter into closed session pursuant to MN Statute 13D.05, Subd. 3(c)(3) to develop and offer to purchase real estate located at 13 2nd Ave NW. The motion was seconded by Beniek and passed unanimously by those present. Adjourn: Hazen made a motion to adjourn at 7:30PM; seconded by Beniek and passed unanimously by those present. Kayla Klein City Clerk Council Agenda Item 4b MEETING DATE: August 1, 2022 AGENDA ITEM: Bills Payable SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None PREVIOUS COUNCIL ACTION: See below BACKGROUND INFORMATION: The council approved staff to make the following payments through the payroll contracts, regular monthly invoices with due dates prior to the next scheduled council meeting, or actions taken at previous council meetings. The information here is to provide you all checks and electronic payments made for verification of the disbursement completeness. BUDGET/FISCAL IMPACT: Bills Payable – Checks Mailed Prior to Council Approval Regular PP 15 $53,915.69 Payroll EFT #112267 - #112272 $37,284.40 Account Payable EFT #002062 - 002065 $34,130.52 Check Numbers #059319 - #059339 $81,359.17 Total $206,689.78 Bills Payable – Checks Awaiting Council Approval Check Numbers #059340 - #059376 $123,046.53 Total $123,046.53 Total Budget/Fiscal Impact: $329,736.31 Various Funds ATTACHMENTS: Bills Payable – Checks Mailed Prior to Council Approval REQUESTED COUNCIL ACTION: Approve the bills payables as presented. Check#Date Search Name Comments Amount FUND DEPART OBJ ACH 27-Jul-22 PAYROLL Regular PP 15 $53,915.69 002066 7/12/2022 MEDICA July 2022 Health Insurance $31,755.68 101 21706 002067 7/6/2022 DELTA DENTAL July 2022 Dental Insurance $2,131.64 101 21706 002068 7/7/2022 THE HARTFORD July 2022 Life Insurance $186.20 101 21711 002069 7/12/2022 NCPERS GROUP LIFE INSURANCE July 2022 Optional Life Insurance $57.00 101 21711 112267 7/27/2022 SENTRY BANK HSA w/h Reg PP 15 $1,647.91 101 21715 112268 7/27/2022 EFTPS Fed w/h Reg PP 15 $6,780.51 101 21701 112268 7/27/2022 EFTPS FICA w/h Reg PP 15 $8,233.32 101 21703 112269 7/27/2022 COMMISSIONER OF REVENUE State w/h Reg PP 15 $3,185.46 101 21702 112270 7/27/2022 PERA PERA w/h Reg PP 15 $15,512.20 101 21704 112271 7/27/2022 VOYA FINANCIAL Deferred Comp w/h Reg PP 15 $1,675.00 101 21705 112272 7/27/2022 AMERICAN FUNDS 529 Svgs w/h Reg PP 15 $250.00 101 21705 EFT Total $125,330.61 CITY OF ST JOSEPH EFT's & Payroll - Paid Prior To Council Approval Check#Date Search Name Comments Amount FUND DEPART OBJ 059319 7/21/2022 CINTAS CORPORATION NO. 2 Rugs, Towels, Toilet Paper $150.96 602 49490 210 059319 7/21/2022 CINTAS CORPORATION NO. 2 PW Uniforms $3.15 651 49900 171 059319 7/21/2022 CINTAS CORPORATION NO. 2 PW Uniforms $37.24 602 49450 171 059319 7/21/2022 CINTAS CORPORATION NO. 2 Rugs, Towels, Toilet Paper $480.94 101 41430 210 059319 7/21/2022 CINTAS CORPORATION NO. 2 Rugs, Towels, Toilet Paper $29.29 101 42120 210 059319 7/21/2022 CINTAS CORPORATION NO. 2 Rugs, Towels, Toilet Paper $150.96 601 49490 210 059319 7/21/2022 CINTAS CORPORATION NO. 2 PW Uniforms $16.97 101 43120 171 059319 7/21/2022 CINTAS CORPORATION NO. 2 PW Uniforms $16.52 101 45202 171 059319 7/21/2022 CINTAS CORPORATION NO. 2 PW Uniforms $37.39 601 49440 171 059319 7/21/2022 CINTAS CORPORATION NO. 2 PW Uniforms $2.85 603 43230 171 059319 7/21/2022 CINTAS CORPORATION NO. 2 Rugs, Towels, Toilet Paper $150.96 101 45201 210 059320 7/21/2022 City of Sartell 2nd Qtr 2022 - Gang Strike Task Force $4,139.64 101 42120 300 059321 7/21/2022 CITY OF ST. CLOUD COSJ Portion of Fire Study $15,044.25 390 42210 300 059322 7/21/2022 COMITTED 365 ROOFING & EXTERIOR Over Paid Building Permit $61.00 101 41430 32210 059323 7/21/2022 COMMISSIONER OF TRANSPORTATION Annual Rail Lease $5,800.00 601 47100 413 059324 7/21/2022 DNH CONSTRUCTION LLC Over Paid Building Permit $183.00 101 41430 32210 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $147.57 101 45202 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $96.62 601 49440 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $68.33 602 49450 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $147.57 101 43120 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $76.46 105 42250 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $49.59 101 41530 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $82.78 101 41430 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $44.55 101 41910 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $44.55 101 45204 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $84.94 651 49900 321 059325 7/21/2022 FIRSTNET June 2022 - Mobile Device Charges $545.70 101 42151 321 059326 7/21/2022 FLEET SERVICES June 2022 Squad Lease #10186 $643.55 101 42152 414 059327 7/21/2022 FOUR SEASONS CONTRACTING Over Paid Building Permit $7.00 101 41430 32210 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN Fire Dept Contract Review $675.00 105 42210 304 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN Community Center - YMCA Agreement $495.00 200 45202 520 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN River Bats Development $90.00 101 41910 304 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN Drainage Issues/Easements - Morningside $90.00 651 49900 304 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN General $90.00 101 41610 304 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN Event Center Jade Road Development $652.50 101 41910 304 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN Storage Link/Elm Street Extension Development $337.50 101 41910 304 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN 2022 Street Improvements Assessments $360.00 415 43120 530 059328 7/21/2022 JOVANOVICH, DEGE & ATHMANN Communite Center Bonding $202.50 402 45205 304 059329 7/21/2022 MUSTANG SIGNS & GRAPHICS Wobegon Trail Signage $1,344.42 220 46500 328 059330 7/21/2022 OFFICE DEPOT Carton of Paper, Screen Wipes $170.54 101 41430 200 059331 7/21/2022 PROMOTIONAL RESOURCES INC Basketball Summer Rec Tanks $720.00 101 45204 308 059332 7/21/2022 QUADIENT POSTAGE FUNDING Postage Machine Refill $503.00 101 41430 322 059333 7/21/2022 RIESNER, SHAWN Façade Grant - LaPlayette Sign $2,000.00 150 46500 588 059334 7/21/2022 SEH, INC Trobecs Bus $450.24 101 43131 303 059334 7/21/2022 SEH, INC 2022 Street Improvements $2,512.50 415 43120 530 059334 7/21/2022 SEH, INC 2021 Street & Utility Imrpovements $24,856.67 411 43120 530 059334 7/21/2022 SEH, INC Morningside Drainage / Stormwater $1,356.00 651 49900 303 059334 7/21/2022 SEH, INC Knife River $127.00 101 43131 303 059334 7/21/2022 SEH, INC StorageLink Development $1,864.44 101 43131 303 059334 7/21/2022 SEH, INC Jade Rd Event Center $623.24 101 43131 303 059334 7/21/2022 SEH, INC Rivers Bend 4 Development $6,265.80 101 43131 303 059334 7/21/2022 SEH, INC MN St / 1st Ave Traffic Study $53.50 101 43131 303 059334 7/21/2022 SEH, INC Addressing / CIP / MSAS $244.24 101 43131 303 059335 7/21/2022 SHIFT TECHNOLOGIES, INC.HP Notebook, Microsoft Office, Software Setup for Ryan $686.30 409 43120 581 059335 7/21/2022 SHIFT TECHNOLOGIES, INC.HP Notebook, Microsoft Office, Software Setup for Ryan $686.29 409 45202 581 059335 7/21/2022 SHIFT TECHNOLOGIES, INC.Updated Software for PD $70.00 101 42120 215 059336 7/21/2022 ST. CLOUD TIMES Joint Planning Board - Conditional Use Application $87.59 101 41910 340 059336 7/21/2022 ST. CLOUD TIMES Ordinance - Adopting CVB Advisory Board $89.38 101 41130 340 059336 7/21/2022 ST. CLOUD TIMES 2022A Abatement Bonds; Community Center 1st Part Issue $574.98 302 45205 340 059337 7/21/2022 STEARNS ELECTRIC ASSOCIATION June 2022 - Electrical Services $73.96 602 49472 381 059337 7/21/2022 STEARNS ELECTRIC ASSOCIATION June 2022 - Electrical Services $1,352.66 652 43160 386 059337 7/21/2022 STEARNS ELECTRIC ASSOCIATION June 2022 - Electrical Services $50.50 101 41942 381 059337 7/21/2022 STEARNS ELECTRIC ASSOCIATION June 2022 - Electrical Services $113.65 602 49473 381 059337 7/21/2022 STEARNS ELECTRIC ASSOCIATION June 2022 - Electrical Services $94.22 602 49471 381 059337 7/21/2022 STEARNS ELECTRIC ASSOCIATION June 2022 - Electrical Services $840.42 101 45201 381 059338 7/21/2022 TOUCHPOINT LOGIC LLC ARPA Funds - Fire Hall Community Room Technology Updates $1,872.80 104 42220 580 059339 7/21/2022 TACTICAL SOLUTIONS Certifications: Radar Units, Tuning Forks, Laser Units $338.00 101 42120 210 Total Bills Payable - Mailed Prior to Council Approval $81,359.17 CITY OF ST JOSEPH Bills Payable – Paid Prior To Council Approval Check#Date Search Name Comments Amount FUND DEPART OBJ 059340 7/27/2022 AFSCME COUNCIL 65 Aug 2022 Federation Dues $713.40 101 21707 059341 7/27/2022 BROCK WHITE COMPANY, LLC Spec Mix Util Mortar $81.78 651 49900 220 059342 7/27/2022 BRUNO PRESS Aug 2022 CVB Marketing $750.00 220 46500 300 059343 7/27/2022 CENTRAL MOTORCAR SPECIALTIES #705 - Windshield Repair (Storm Damage)$744.91 101 42152 230 059344 7/27/2022 CIRCLE K FLEET July 2022 Motor Fuel $708.74 601 49440 235 059344 7/27/2022 CIRCLE K FLEET Excise Tax Credit ($43.94)602 49450 235 059344 7/27/2022 CIRCLE K FLEET Excise Tax Credit ($35.08)601 49440 235 059344 7/27/2022 CIRCLE K FLEET Excise Tax Credit ($21.89)101 45202 235 059344 7/27/2022 CIRCLE K FLEET Excise Tax Credit ($21.89)101 43120 235 059344 7/27/2022 CIRCLE K FLEET Excise Tax Credit ($4.02)101 42152 235 059344 7/27/2022 CIRCLE K FLEET July 2022 Motor Fuel $865.54 602 49450 235 059344 7/27/2022 CIRCLE K FLEET PD Car Wash $5.38 101 42152 230 059344 7/27/2022 CIRCLE K FLEET July 2022 Motor Fuel $439.71 101 45202 235 059344 7/27/2022 CIRCLE K FLEET July 2022 Motor Fuel $439.71 101 43120 235 059344 7/27/2022 CIRCLE K FLEET July 2022 Motor Fuel $81.47 101 42152 235 059344 7/27/2022 CIRCLE K FLEET July 2022 Motor Fuel $415.39 105 42220 235 059344 7/27/2022 CIRCLE K FLEET Excise Tax Credit ($22.66)105 42220 235 059345 7/27/2022 CITY OF ST. CLOUD June 2022 Sewer Rental/Bonds $27,082.88 602 49480 419 059345 7/27/2022 CITY OF ST. CLOUD June 2022 Sewer Rental/Bonds $40,750.78 602 49480 418 059346 7/27/2022 CORE & MAIN LP A-1 Frame & CR 15" Water Imp $1,183.10 601 49430 210 059347 7/27/2022 COUNTRY MANOR ST. JOSEPH 1st Half 2022 - ISD Abated Taxes $4,691.00 150 46500 622 059348 7/27/2022 ELECTRIC MIKES, INC.Replace High Service VFD #1 $10,400.00 601 49420 220 059349 7/27/2022 EMERGENCY MEDICAL PRODUCTS,INC Medical Supplies $363.89 105 42270 210 059349 7/27/2022 EMERGENCY MEDICAL PRODUCTS,INC Medical Supplies $292.21 105 42270 210 059350 7/27/2022 FARM-RITE EQUIPMENT, INC.#21 - Air & Oil Filters $197.14 101 43120 230 059351 7/27/2022 FIRE EQUIPMENT SPECIALTIES INC Gear for New Firefighters $12,154.95 105 42220 585 059352 7/27/2022 GRAINGER Defrost Sensor $20.97 602 49450 220 059353 7/27/2022 GRANITE ELECTRONICS, INC Pagers for New Firefighters $1,455.00 105 42250 580 059354 7/27/2022 LAW ENFORCEMENT LABOR SERVICES Aug 2022 Federation Dues $650.00 101 21707 059355 7/27/2022 LEGACY RESTORATION Permit 2022-0471 Paid Twice $61.00 101 41430 32210 059356 7/27/2022 MARTIN MARIETTA MATERIALS, INC Class 2 Gravel; Rip Rap $795.89 101 45202 220 059357 7/27/2022 MIDWEST MACHINERY CO.#40 - Oil Filter & Element $111.68 101 45202 230 059357 7/27/2022 MIDWEST MACHINERY CO.#10 - Air, Fuel & Oil Filters $273.14 101 45202 230 059358 7/27/2022 MIKES ELECTRIC Replace Lights in Fire Hall $2,697.75 105 42281 300 059358 7/27/2022 MIKES ELECTRIC Replace Lights in Fire Hall $2,697.75 105 42280 300 059359 7/27/2022 MINNESOTA BCA Mary M - Criminal Justice Information Users $275.00 101 42140 300 059359 7/27/2022 MINNESOTA BCA Dwight P - Criminal Justice Information Users $275.00 101 42140 300 059359 7/27/2022 MINNESOTA BCA Matt J - Criminal Justice Information Users Conference $275.00 101 42140 300 059359 7/27/2022 MINNESOTA BCA Jason L - Criminal Justice Information Users $275.00 101 42140 300 059359 7/27/2022 MINNESOTA BCA Candi V - Criminal Justice Information Users $275.00 101 42140 300 059360 7/27/2022 MINNESOTA PAVING & MATERIALS Asphalt - SPWEA340 $227.25 101 43120 220 059361 7/27/2022 MOONEY, ANDREW July 2022 Lunch Reimb (Coborn's)$55.96 101 21712 059362 7/27/2022 NORTH CENTRAL BLUE BIRD BUS SL #27 - Concealed LED $170.00 101 43120 230 059363 7/27/2022 O REILLY AUTO PARTS #29 - Oil & Air Filter $22.44 101 45202 230 059363 7/27/2022 O REILLY AUTO PARTS #20 - Wiper Fluid $7.62 101 43120 230 059363 7/27/2022 O REILLY AUTO PARTS Creeper for Shop $87.99 101 45201 240 059363 7/27/2022 O REILLY AUTO PARTS #35 - Fuel Filter, Dieltric $14.26 101 43120 230 059364 7/27/2022 POWERHOUSE OUTDOOR EQUIP Fuel for Small Engine Tools $191.92 105 42220 235 059365 7/27/2022 PROM, JOHN July 2022 Lunch Reimb (St. Joe Meats)$96.46 101 21712 059366 7/27/2022 RDO EQUIPMENT CO.#20 - Oil, Fuel & Air Filters $307.14 101 43125 230 059367 7/27/2022 REVOLUTION CYCLE & SKI Bikeshare Bike Repair $21.97 101 45204 220 059368 7/27/2022 SPARKYS TOOLS, LLC Toolbox for D.Dirkes, Mechanic $4,500.00 390 45201 580 059369 7/27/2022 SPEEDWAY Excise Tax Credit ($10.61)602 49450 235 059369 7/27/2022 SPEEDWAY Excise Tax Credit ($3.09)101 43120 235 059369 7/27/2022 SPEEDWAY Excise Tax Credit ($3.09)101 45202 235 059369 7/27/2022 SPEEDWAY Excise Tax Credit ($15.88)101 42152 235 059369 7/27/2022 SPEEDWAY Jly 2022 Motor Fuel $185.25 602 49450 235 059369 7/27/2022 SPEEDWAY Jly 2022 Motor Fuel $61.38 101 45202 235 059369 7/27/2022 SPEEDWAY Jly 2022 Motor Fuel $61.38 601 49440 235 CITY OF ST JOSEPH Bills Payable – Checks Not Mailed Awaiting Council Approval Check#Date Search Name Comments Amount FUND DEPART OBJ CITY OF ST JOSEPH Bills Payable – Checks Not Mailed Awaiting Council Approval 059369 7/27/2022 SPEEDWAY Jly 2022 Motor Fuel $310.73 101 42152 235 059369 7/27/2022 SPEEDWAY Excise Tax Credit ($3.09)601 49440 235 059369 7/27/2022 SPEEDWAY Jly 2022 Motor Fuel $61.38 101 43120 235 059370 7/27/2022 SWORSKI, MICHAEL Reimb - Water Supply System Operator Renewal $23.00 601 49440 446 059371 7/27/2022 TIREMAXX SERVICE CENTERS #6 - Blower Motor Repairs $521.78 105 42260 230 059371 7/27/2022 TIREMAXX SERVICE CENTERS #40 - Mount Tube Tire $40.00 101 45202 230 059372 7/27/2022 Township of St. Joseph Survey Boundary Line Adj (College of St. Bens)$250.00 101 41910 451 059372 7/27/2022 Township of St. Joseph Billboard Sign (Public Hearing)$200.00 101 41910 451 059373 7/27/2022 UNUM LIFE INSURANCE Aug 2022 - Disability Insurance $1,401.02 101 21713 059374 7/27/2022 WATER CONSERVATION SERVICE INC Leak Locate; Mileage $688.75 601 49440 300 059375 7/27/2022 WEISMAN CLEANING INC July 2022 - Office Cleaning $963.74 101 41942 300 059376 7/27/2022 ZEP MANUFACTURING, INC Garbage Liners, Hang Tags $65.04 602 49450 210 059376 7/27/2022 ZEP MANUFACTURING, INC Garbage Liners, Hang Tags $65.05 601 49440 210 059376 7/27/2022 ZEP MANUFACTURING, INC Garbage Liners, Hang Tags $65.05 101 43120 210 059376 7/27/2022 ZEP MANUFACTURING, INC Garbage Liners, Hang Tags $65.05 101 45202 210 Total Bills Payables - Waiting Council Approval $123,046.53 EFTs & Payroll 125,330.61 Bills Paid Prior to Council 81,359.17 Bills Waiting for Council 123,046.53 Total Bills Payable 329,736.31 Summary: Council Agenda Item MEETING DATE: August 1, 2022 AGENDA ITEM: Resignation SUBMITTED BY: Administration BACKGROUND INFORMATION: Finance Technician, Kim Wenner-Roth has submitted her resignation with her last day being August 5, 2022 and staff would like to post the position as soon as possible. ATTACHMENTS: None REQUESTED COUNCIL ACTION: Accept the Finance Technician’s resignation and authorize staff to begin the hiring process. Council Agenda Item 4d ______ MEETING DATE: August 1, 2022 AGENDA ITEM: Transfers SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None PREVIOUS COUNCIL ACTION: None BACKGROUND INFORMATION: Residual Transfers: Close fund 353 to fund 301 bonds. Fund 353 bonds were to fund the Colts Academy and 17 acres land from the School District. The bonds were defeased early with the sale of Colts Academy to Moxie Investment Group. Since the bonds were defeased, the bond fund can be closed. Fund 301 is the main government center bonds and will receive the residual proceeds to cover future 2016A GO CIP bond payments. BUDGET/FISCAL IMPACT: $173,514.76 between funds ATTACHMENTS: 2022 Transfers REQUESTED COUNCIL ACTION: Authorize the 2022 transfers as presented. City of St. Joseph, Minnesota Operating Transfers Requested August 1, 2022 for 2022 Financial Year Fund Description Amount In Amount Out Purpose Residual 353 2017A Add'l city facility bonds 173,514.76 Close residual funds from the 2015 Abatement 101 General Fund 23,514.76 Bonds paid in full. Partial to General Fund 301 2016A Gov Center Bonds 150,000.00 partial to Government Center Bonds 173,514.76 173,514.76 Council Agenda Item MEETING DATE: August 1, 2022 AGENDA ITEM: Fire Dept Rescue Van SUBMITTED BY: Administration/Fire BOARD/COMMISSION/COMMITTEE RECOMMENDATION: Fire Board recommended accepting the rescue van bid PREVIOUS COUNCIL ACTION: Council adopted the five-year capital equipment plan that includes the rescue van replacement. Council accepted ARPA funding and concurred the grant funds could be used for the new rescue van. Council declared 2012 rescue van as surplus and that the sale proceeds will be allocated to replacing the grass rig. BACKGROUND INFORMATION: Rosenbauer offered a $30,000 trade-in value for the 2012 rescue van once the new van is received. Other parties indicated they may be interested in purchasing the 2012 rescue van. Council authorized letting the sale of the 2012 rescue van on sealed bids with a minimum bid of $45,000. The City received one bid from Saint John’s Fire Department in the amount of $70,000. The council agreed to apply the sale proceeds to replace the grass rig. The City tried several times to get a FEMA grant to help purchase the grass rig without success. The grass rig is past due to be replaced and needs the additional funding to purchase a new grass rig. BUDGET/FISCAL IMPACT: $70,000 ATTACHMENTS: Saint John’s Fire Department Bid Resolution 2022-040 Accepting Bid to Sale Ambulance REQUESTED COUNCIL ACTION: Adopt Resolution 2022-040 accepting the bid from Saint John’s Fire Department for the sale of the 2012 Ford E450 ambulance in the amount $70,000. Bid on 2012 Ford wheeled coach Ambulance City of Saint Joseph The Saint Johns Fire Department would like to place a bid of$70,000 for the 2012 Ford E450 Wheeled Coach T3 Gen2 Ambulance. d"- v en Berho Saint John's Fire Department Fire Chief & Assistant Safety Director PO Box 2000 Colle eville,MN 56321 Phone: 320-363-2742 Faa: 320-363-3999 (Phys. Plant O cej Email: sberhow u,csbsju.edu Fire Department Safety University Transportation (reservations& information a RESOLUTION 2022-040 A RESOLUTION ACCEPTING THE BID TO SALE 2012 FORD E450 AMBULANCE WHEREAS, the City declared the 2012 Ford E450 Ambulance as surplus, and; WHEREAS, the City advertised for bids on the LMC Marketplace and City of St. Joseph Website; and WHEREAS, the City accepted bids for a two-week period with one sealed bid received; and WHEREAS, the parties now desire to close on said sale; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ST. JOSEPH, MINNESOTA AS FOLLOWS: 1. That the sale of the 2012 Ford E450 Ambulance is authorized. 2. The terms of the purchase include: a. The purchase price to be paid by Buyer (Saint John’s Fire Department) to Seller (City) is $70,000. b. The purchase price in exchange for the 2012 Ford E450 will occur when the City receives their new ambulance. c. The Seller will sign over the title of the 2012 Ford E450 upon receipt of the purchase price and delivery of the ambulance to the Buyer. d. The purchase price of $70,000 will be placed into a reserve fund for the replacement of the fire department grass rig. Adopted by the City Council of the City of St. Joseph this 1st day of August, 2022. Rick Schultz, Mayor ATTEST: Therese Haffner, City Administrator Council Agenda Item 4f MEETING DATE: August 1, 2022 AGENDA ITEM: Klinefelter Park Shelter Addition SUBMITTED BY: Public Works BOARD/COMMISSION/COMMITTEE RECOMMENDATION: The addition of restrooms in Klinefelter Park is a priority project for the Park Board. The Park Board reviewed the quote at their last meeting on July 25, 2022 and support the proposal. PREVIOUS COUNCIL ACTION: BACKGROUND INFORMATION: Restrooms at Klinefelter Park have been a community priority for a number of years. In fact, the addition of restrooms is included in the City’s 2008 Park and Trail System Plan. The plan proposes an addition of two restrooms, a mechanical room, electric and plumbing onto the existing Klinefelter Park shelter on the west side of the building. Several contractors were contacted for quotes. The City received two proposals, which are attached. BUDGET/FISCAL IMPACT: $40,000 water fund 601 for the water line extension $10,000 sewer fund 602 for the sewer line extension $121,300 park dedication fund 205 $171,300.00 ATTACHMENTS: Mike Schlangen Construction Co. Inc. Proposal Bradbury Stamm Construction Proposal REQUESTED COUNCIL ACTION: Approve Mike Schlangen Construction Co. Inc. Proposal as presented. Proposal OWNER: MIKE SCHLANGEN-LICENSE: BC219297 PROPOSAL SUBMITTED TO: City of St. Joseph Attn. Ryan Wensmann DATE: 7-20-2022 STREET: 75 Callaway St. E JOB NAME: Kleinfelter Park Addition CITY, STATE AND ZIP CODE: St. Joseph, MN 56374 JOB LOCATION: St. Joseph PHONE: Ryan: 320-229-1579 E-MAIL: rwensmann@cityofstjoseph.com We hereby propose to furnish materials and labor necessary for the completion of: Kleinfelter Park Shelter Addition of Bathrooms and Mechanical Addition to include One Men’s Restroom, One Women’s Restroom and Mechanical Room. Heat to be in floor with combination Boiler for Hot water also. All Electrical, Plumbing, and Building bid to Plan and Specs Provided. Tar Repairs included for sewer and water Hookups. Finish Grade to be Seeded with Grass on final of Project Note: No Trash Enclosure Figured *** Material cost subject to change due to variably supply market. TOTAL $ 171,300.00 WE PROPOSE hereby to furnish material and labor -- complete in accordance with the above specifications, for the sum of: __ One Hundred Seventy One Thousand Three Hundred_ dollars (171,300.00 ) Payment to be made as follows: ½ Down Remainder upon Completion All material is guaranteed to be as specified. All work to be completed in a substantial workmanlike Authorize manner according to specifications submitted, per standard practices. Any alteration or deviation Signature Mike Schlangen___ _ from above specifications involving extra costs will be executed only upon written orders, and will (Electronic Signature) become an extra charge over and above the estimate. All agreements contingent upon strikes, Note: This proposal may be accidents or delays beyond our control. Owner to carry fire, tornado and other necessary insurance. withdrawn by us if not accepted within___10_____days. Our workers are fully covered by Workmen’s Compensation Insurance. ================================================================================================================================== ACCEPTANCE OF PROPOSAL The above prices, specifications and conditions are satisfactory and are hereby accepted. You are authorized to do the work as specified. Signature __________________________ _________ Payment will be made as outlined above. Date of Acceptance: ___________________ Signature __________________________________________ =============================================================================================================== * SIGN & RETURN first copy; second copy for your records. MIKE Schlangen Construction CO., INC. 9175 Ahles Road St. Cloud, MN 56301 E-mail: msconst@q.com Cell (320) 249-7537 Bradbury Stamm Construction Winkelman, LLC 340 Highway 10 South, St. Cloud, MN 56304 P: 320.253.2411 | F: 320.253.2324 | bradburystamm.com February 25, 2022 May 2, 2022 City of St. Joseph 75 Callaway St. E St. Joseph, MN 56374 Attn.: Ryan Wensmann rwensmann@cityofstjoseph.com Re.: Kleinfelter Park Shelter Restroom Addition Dear Ryan- Bradbury Stamm Construction Winkelman, LLC is pleased to present our Proposal for your new Project in St. Joe. This is based on the information you noted on the CB Food Service Designs, Inc. Drawing F-1, and our understanding of your needs and sewer, water and electrical tie-ins points as we understand them. Based on this information, we propose the following: Project Conditions/Scope of Work: Pre-Construction Work with your design team to develop a complete and final, economical Building approach. Bradbury Stamm to provide pre-construction services, including meeting coordination to finalize design and to confirm Utility tie-ins. General Conditions included • Project Management / Project Superintendent • General Labor • Final cleaning • Dumpsters for construction debris • Portable Restrooms/Hand Washing Stations • Builders Risk Insurance • Office Trailer/Storage • Building Permit Allowance $3,442.00 (Excludes SAC/WAC/Park dedication and other City Fees) Concrete • Furnish and install Footings • Furnish and install 4” slab on grade, including vapor barrier, sloped to drains • Furnish and install 4” concrete between existing slab and CMU walls, approximately 6-12” wide • Auger and place Trash Enclosure Gate posts and wood fence posts Bradbury Stamm Construction Winkelman, LLC 340 Highway 10 South, St. Cloud, MN 56304 P: 320.253.2411 | F: 320.253.2324 bradburystamm.com Bradbury Stamm Construction Winkelman, LLC 340 Highway 10 South, St. Cloud, MN 56304 P: 320.253.2411 | F: 320.253.2324 | bradburystamm.com Masonry • Furnish and install 12” plain CMU below grade, with 2” rigid foundation insulation • Furnish and install 8” standard color rock faced CMU, with integral sealer and dry-blok mortar • Furnish and install 8” plain CMU at interior partition walls • Install hollow metal door frames in masonry openings • Install Lintels in door openings Misc. Steel Fabrications • Furnish and install primed trash enclosure gates and steel posts • Furnish lintels above door openings Carpentry • Remove existing Metal Roof Panels • Remove existing plywood sheathing and hip set trusses as required, salvage for reuse • Remove existing metal ceiling panels above floor, salvage for reuse • Install top plate to top of CMU walls • Install new trusses to extend length of roof as required • Re-install existing hip set trusses over Restroom • Install new plywood sheathing over new trusses, reinstall salvaged plywood at hip sets • Install blocking at bath accessories • Install hollow metal doors and hardware in Hollow metal frames • Install bath accessories • Insulate ceiling space above Restrooms/Mechanical Room • Install treated lumber framing and dog-eared maintenance free decking at trash enclosure Standing seam metal roof/soffit panels/trims • Remove existing metal ceiling panels above floor, salvage for reuse after Electrical is placed • Install High Temperature ice and water shield over new and existing portions of roof sheathing • Install 24 ga. 16” o.c. standing seam roof panels in standard color • Install soffit panels and trims • Reinstall ceiling panels after Electrical tasks are completed Sealants • Caulk hollow metal door frames • Caulk around restroom sinks Doors and Windows • Furnish 3 exterior Hollow Metal frames and walkdoors • Furnish remote time operated door hardware at restrooms • Furnish standard lockset at Mechanical Room Drywall • Furnish and install 5/8” drywall ceilings in Restrooms and Mechanical Room Painting • Paint drywall ceilings • Paint hollow metal frames and doors • Paint steel gate at trash enclosure • Paint exposed lintels Bradbury Stamm Construction Winkelman, LLC 340 Highway 10 South, St. Cloud, MN 56304 P: 320.253.2411 | F: 320.253.2324 | bradburystamm.com • Install block filler, epoxy paint interior walls of restrooms and mechanical room • Apply an epoxy floor sealer to restrooms and mechanical room Bath Accessories • 2 sets of ADA required grab bars • 2 Toilet Paper Dispensers • 2 Paper Towel Dispensers • 2 Shatter resistant Mirrors • 2 Baby Changing Stations Plumbing • Furnish and install dual height wall hung drinking fountain with bottle filler (Elkay VRCTL8WSK) • Furnish and install 2 ADA compliant Acorn stainless steel toilets • Furnish and install 2 ADA compliant Acorn stainless steel sinks • Furnish and install floor drains and cleanouts as required • Furnish and install Natural Gas Tankless Water Heater • Copper water lines, PVC waste and vent lines • Gas piping from Owner installed gas meter and piping to source HVAC • Furnish and install Natural Gas Furnace and necessary ductwork • Furnish and install 2 bath fans • Grills, Registers and Diffusers as required Electrical • Run underground raceway/power from existing utility transformer to building, including a 100 • Amp service panel and socket (Utility to make final connection at transformer, any costs associated with this by Owner) • Install lighting under canopy – 6 fixtures photo eye controlled with light pole • Install lighting at Restrooms, Mechanical Room – 3 fixtures • Install wiring and connections to furnace and water heater, motion lighting • Install 15’ above grade direct buried Black Fiberglass Pole with 2 – 50 watt LED Floodlights • Motion controlled Lights in restrooms, switch controlled mechanical room lights • 20 amp GCFI at panel • GFCI receptacle below drinking fountain • Install power to remote operated door locks at restrooms Earthwork/Sitework ALLOWANCE $71,000.00, including: • Excavate for bathroom addition, 6-12” away from existing slab • Backfill and compact foundation • Install sand cushion below slab • Dress up surrounding area with black dirt • Excavate and tie in to existing Sanitary Sewer service with 4” PVC from cul-de-sac to building • Excavate and tie in to existing Water Service with 1 ½” piping from cul-de-sac into building • Sawcut and remove/dispose of asphalt paving in cul-de-sac as required for Utility taps • Restore removed asphalt at Utility tap demo Bradbury Stamm Construction Winkelman, LLC 340 Highway 10 South, St. Cloud, MN 56304 P: 320.253.2411 | F: 320.253.2324 | bradburystamm.com • Install sod at Utility trenching areas • Spread grass seed at areas of grass that are damaged by Construction activities • Any excess soils to remain on site Our Lump Sum Proposal cost to complete this work, as outlined above Bid Budget Cost for the work outlined above…………………………………………………………………………………………….………...……………$332,154.00 Exclusions Design/Engineering Fees Soil Borings/Surveys SAC/WAC/additional Charges by City when pulling a permit Payment and Performance Bonds Dewatering We wish to express our gratitude in your allowing us the opportunity to provide you with this Proposal. In todays current economy and markets, our Proposal is valid for acceptance for a period of 30 days. We anticipate a 6-week lead time on most of the required materials, and would be able to commence work on this project within a few weeks. Sincerely, John Waletzko President Bradbury Stamm Construction Winkelman LLC Council Agenda Item ______ MEETING DATE: August 1, 2022 AGENDA ITEM: 2022A GO Bonds Issuance and Sale SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: Fire Board recommended the purchase of a pumper/tanker truck. PREVIOUS COUNCIL ACTION: Council accepted bids for the 2022 street improvement project and certified the corresponding assessments. Council adopted resolution approving property tax abatements for the community center financing. Council accepted bids for a pumper/tanker truck. Council approved trigger resolution to sell bonds in the morning of August 1, 2022. BACKGROUND INFORMATION: Northland Securities was hired for the 2022A bonds. Taft attorneys are representing the City as bond counsel. The bond sale will go to market in the morning on 8/1. The excellent bond rating of AA- Stable from S&P Global put the City in a good position for the sale. There is one resolution to consider for the bond issuance and sale in the amount of $7,510,000. The 2022A resolution includes financing the 2022 street improvements, pumper/tanker fire truck and local sales tax portion of the community center project. The final attached document is a summary from S&P Global on the bond rating of AA- Stable. This is good reading and kudos to Council’s policies. With the uncertainty of the pandemic, many communities are experiencing downgrades in the bond rating. Because St. Joseph has strong financial policies and reserves, S&P Global felt the City will be able to weather possible economic downturns. Both resolutions will be finalized on Monday after the bonds are sold on the market. BUDGET/FISCAL IMPACT: $7,510,000 Bond Issues ATTACHMENTS: Resolution 2022-039 Issuance and Sale GO Bonds, Series 2022A Standards and Poors Global Bond Rating Summary REQUESTED COUNCIL ACTION: Consider adoption of Resolution 2022-039 providing for the issuance and sale of the GO Bonds, series 2022A. 5913634v1 EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ST. JOSEPH, MINNESOTA HELD: AUGUST 1, 2022 Pursuant to due call, a regular or special meeting of the City Council of the City of St. Joseph, Stearns County, Minnesota, was duly held at the City Hall on August 1, 2022, at 6:00 P.M., for the purpose, in part, of authorizing the issuance and awarding the sale of $7,510,000 General Obligation Bonds, Series 2022A. The following members were present: and the following were absent: Member ______________ introduced the following resolution and moved its adoption: RESOLUTION NO. 2022-039 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $7,510,000 GENERAL OBLIGATION BONDS, SERIES 2022A, PLEDGING FOR THE SECURITY THEREOF SPECIAL ASSESSMENTS, TAX ABATEMENTS AND LEVYING A TAX FOR THE PAYMENT THEREOF A. WHEREAS, the City Council of the City of St. Joseph, Minnesota (the "City") has heretofore determined and declared that it is necessary and expedient to issue $7,510,000 General Obligation Bonds, Series 2022A (the "Bonds" or individually a "Bond"), pursuant to Minnesota Statutes, Chapter 475; and 1. Chapter 429 to finance street improvements within the City (the "Improvements") and the portion issued to finance the Improvements is referred to herein as the "Improvement Portion of the Bonds"; 2. Section 412.301 to finance the purchase of capital equipment for the City (the "Equipment") and the portion issued to finance the Equipment is referred to herein as the "Equipment Portion of the Bonds"; 3. Chapter 469.1812 through 469.1815, particularly Section 469.1814 to finance a portion of the cost of a new community center (the "Tax Abatement Project") and the portion issued to finance the Tax Abatement Project is referred to herein as the "Tax Abatement Portion of the Bonds"; and B. WHEREAS, the Improvements and all their components have been ordered prior to the date hereof, and have been or will be constructed by the City under contracts which the City has or will let, all pursuant to and in accordance with the applicable provisions of Minnesota Statutes, Chapter 429; and C. WHEREAS, each item of Equipment to be financed by the Equipment Portion of the Bonds has an expected useful life of at least as long as the term of the Equipment Portion of the Bonds; and 5913634v1 2 D. WHEREAS, the principal amount of the Equipment Portion of the Bonds does not exceed one-quarter of one percent (0.25%) of the estimated market value of the taxable property in the City ($___________ times 0.25% is $_____________); and E. WHEREAS, July 5, 2022, following duly published notice thereof, the Council held a public hearing on the proposed abatement to finance the Tax Abatement Project and all persons who wished to speak or provide written information relative to the public hearing were afforded an opportunity to do so; and F. WHEREAS, the City has heretofore established a tax abatement program (the "Program") pursuant to the provisions of Minnesota Statutes, Sections 469.1812 through 469.1815, with respect to providing for the abatement of property taxes for a period of 20 years on various properties in the City, as described in the resolution adopted by the City Council on the date hereof, approving the Program (the "Tax Abatement Resolution"); and G. WHEREAS, the City has requested, in writing, that Independent School District No. 742 (the “St. Cloud Area School District”) grant an abatement for the Project. The St. Cloud Area School District has declined, in writing, to grant an abatement and therefore the City has the authority to grant an abatement for up to 20 years; and H. WHEREAS, the amount of the property taxes abated are estimated to be at least equal to the principal amount of the Tax Abatement Portion of the Bonds (as hereinafter defined) and pursuant to the provisions of the Tax Abatement Resolution, funds are to be expended to provide money to pay for the Tax Abatement Project; and I. WHEREAS, the City has retained Government Capital Securities in Bayport, Minnesota, as its independent municipal advisor for the sale of the Bonds and was therefore authorized to sell the Bonds by private negotiation in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); and J. WHEREAS, it is in the best interests of the City that the Bonds be issued in book- entry form as hereinafter provided; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of St. Joseph, Minnesota, as follows: 1. Acceptance of Proposal. The offer of Northland Securities, Inc. (the "Purchaser"), to purchase the Bonds of the City (or individually, a "Bond"), in accordance with the terms and at the rates of interest hereinafter set forth, and to pay therefor the sum of $_____________, plus interest accrued to settlement, is hereby accepted. 2. Bond Terms. (a) Original Issue Date; Denominations; Maturities; Term Bond Option. The Bonds shall be dated August 30, 2022, as the date of original issue and shall be issued forthwith on or after such date in fully registered form, shall be numbered from R-1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations") and shall mature on December 15 in the years and amounts as follows: 5913634v1 3 Year Amount Year Amount 2023 $ 2033 $ 2024 2034 2025 2035 2026 2036 2027 2037 2028 2038 2029 2039 2030 2041 2031 2042 2032 As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). (b) Allocation. The Improvement Portion of the Bonds, being the aggregate principal amount of $_______, maturing in each of the years and amounts hereinafter set forth, is issued to finance the Improvements. The Equipment Portion of the Bonds, being the aggregate principal amount of $_________, maturing in each of the years and amounts hereinafter set forth, is issued to finance the Equipment. The Tax Abatement Portion of the bonds, being the aggregate principal amount of $_______, maturing in each of the years and amounts hereinafter set forth, is issued to finance the Tax Abatement Project. 5913634v1 4 Year Improvement Portion Equipment Portion Tax Abatement Portion Total Amount 2023 $ $ $ $ 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 If Bonds are prepaid, the prepayments shall be allocated to the portions of debt service (and hence allocated to the payment of Bonds treated as relating to a particular portion of debt service) as provided in this paragraph. If the source of prepayment moneys is the general fund of the City, or other generally available source, including the levy of taxes, the prepayment may be allocated to any of the portions of debt service in such amounts as the City shall determine. If the source of the prepayment is special assessments pledged for the Improvements, the prepayment shall be allocated to the Improvement Portion of debt service. If the source of a prepayment is abatements pledged to the Tax Abatement Project, the prepayments shall be allocated to the Tax Abatement Portion of debt service. (c) Book Entry Only System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository") will act as securities depository for the Bonds, and to this end: (i) The Bonds shall be initially issued and, so long as they remain in book entry form only (the "Book Entry Only Period"), shall at all times be in the form of a separate 5913634v1 5 single fully registered Bond for each maturity of the Bonds; and for purposes of complying with this requirement under paragraphs 5 and 10 Authorized Denominations for any Bond shall be deemed to be limited during the Book Entry Only Period to the outstanding principal amount of that Bond. (ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond register maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE & CO., as the nominee (it or any nominee of the existing or a successor Depository, the "Nominee"). (iii) With respect to the Bonds neither the City nor the Bond Registrar shall have any responsibility or obligation to any broker, dealer, bank, or any other financial institution for which the Depository holds Bonds as securities depository (the "Participant") or the person for which a Participant holds an interest in the Bonds shown on the books and records of the Participant (the "Beneficial Owner"). Without limiting the immediately preceding sentence, neither the City, nor the Bond Registrar, shall have any such responsibility or obligation with respect to (A) the accuracy of the records of the Depository, the Nominee or any Participant with respect to any ownership interest in the Bonds, or (B) the delivery to any Participant, any Owner or any other person, other than the Depository, of any notice with respect to the Bonds, including any notice of redemption, or (C) the payment to any Participant, any Beneficial Owner or any other person, other than the Depository, of any amount with respect to the principal of or premium, if any, or interest on the Bonds, or (D) the consent given or other action taken by the Depository as the Registered Holder of any Bonds (the "Holder"). For purposes of securing the vote or consent of any Holder under this Resolution, the City may, however, rely upon an omnibus proxy under which the Depository assigns its consenting or voting rights to certain Participants to whose accounts the Bonds are credited on the record date identified in a listing attached to the omnibus proxy. (iv) The City and the Bond Registrar may treat as and deem the Depository to be the absolute owner of the Bonds for the purpose of payment of the principal of and premium, if any, and interest on the Bonds, for the purpose of giving notices of redemption and other matters with respect to the Bonds, for the purpose of obtaining any consent or other action to be taken by Holders for the purpose of registering transfers with respect to such Bonds, and for all purpose whatsoever. The Bond Registrar, as paying agent hereunder, shall pay all principal of and premium, if any, and interest on the Bonds only to the Holder or the Holders of the Bonds as shown on the bond register, and all such payments shall be valid and effective to fully satisfy and discharge the City's obligations with respect to the principal of and premium, if any, and interest on the Bonds to the extent of the sum or sums so paid. (v) Upon delivery by the Depository to the Bond Registrar of written notice to the effect that the Depository has determined to substitute a new Nominee in place of the existing Nominee, and subject to the transfer provisions in paragraph 10, references to the Nominee hereunder shall refer to such new Nominee. 5913634v1 6 (vi) So long as any Bond is registered in the name of a Nominee, all payments with respect to the principal of and premium, if any, and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, by the Bond Registrar or City, as the case may be, to the Depository as provided in the Letter of Representations to the Depository required by the Depository as a condition to its acting as book-entry Depository for the Bonds (said Letter of Representations, together with any replacement thereof or amendment or substitute thereto, including any standard procedures or policies referenced therein or applicable thereto respecting the procedures and other matters relating to the Depository's role as book-entry Depository for the Bonds, collectively hereinafter referred to as the "Letter of Representations"). (vii) All transfers of beneficial ownership interests in each Bond issued in book-entry form shall be limited in principal amount to Authorized Denominations and shall be effected by procedures by the Depository with the Participants for recording and transferring the ownership of beneficial interests in such Bonds. (viii) In connection with any notice or other communication to be provided to the Holders pursuant to this Resolution by the City or Bond Registrar with respect to any consent or other action to be taken by Holders, the Depository shall consider the date of receipt of notice requesting such consent or other action as the record date for such consent or other action; provided, that the City or the Bond Registrar may establish a special record date for such consent or other action. The City or the Bond Registrar shall, to the extent possible, give the Depository notice of such special record date not less than fifteen calendar days in advance of such special record date to the extent possible. (ix) Any successor Bond Registrar in its written acceptance of its duties under this Resolution and any paying agency/bond registrar agreement, shall agree to take any actions necessary from time to time to comply with the requirements of the Letter of Representations. (d) Termination of Book-Entry Only System. Discontinuance of a particular Depository's services and termination of the book-entry only system may be effected as follows: (i) The Depository may determine to discontinue providing its services with respect to the Bonds at any time by giving written notice to the City and discharging its responsibilities with respect thereto under applicable law. The City may terminate the services of the Depository with respect to the Bond if it determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book-entry transfers through the Depository is not in the best interests of the City or the Beneficial Owners. (ii) Upon termination of the services of the Depository as provided in the preceding paragraph, and if no substitute securities depository is willing to undertake the functions of the Depository hereunder can be found which, in the opinion of the City, is willing and able to assume such functions upon reasonable or customary terms, or if the City determines that it is in the best interests of the City or the Beneficial Owners of the Bond that the Beneficial Owners be able to obtain 5913634v1 7 certificates for the Bonds, the Bonds shall no longer be registered as being registered in the bond register in the name of the Nominee, but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with paragraph 10. To the extent that the Beneficial Owners are designated as the transferee by the Holders, in accordance with paragraph 10, the Bonds will be delivered to the Beneficial Owners. (iii) Nothing in this subparagraph (d) shall limit or restrict the provisions of paragraph 10. (e) Letter of Representations. The provisions in the Letter of Representations are incorporated herein by reference and made a part of the resolution, and if and to the extent any such provisions are inconsistent with the other provisions of this resolution, the provisions in the Letter of Representations shall control. 3. Purpose. The Improvement Portion of the Bonds shall provide funds to finance the Improvements. The Equipment Portion of the Bonds shall provide funds to finance acquisition of the Equipment. The Tax Abatement Portion of the Bonds shall provide funds to finance the construction of the Tax Abatement Project. The Improvements, Equipment and the Tax Abatement Project are herein referred to together as the Project. The total cost of the Project, which shall include all costs enumerated in Minnesota Statutes, Section 475.65, is estimated to be at least equal to the amount of the Bonds. The City covenants that it shall do all things and perform all acts required of it to assure that work on the Project proceeds with due diligence to completion and that any and all permits and studies required under law for the Project are obtained. 4. Interest. The Bonds shall bear interest payable semiannually on June 15 and December 15 of each year (each, an "Interest Payment Date"), commencing June 15, 2023, calculated on the basis of a 360-day year of twelve 30-day months, at the respective rates per annum set forth opposite the maturity years as follows: Maturity Year Interest Rate Maturity Year Interest Rate 2023 % 2033 % 2024 2034 2025 2035 2026 2036 2027 2037 2028 2038 2029 2039 2030 2040 2031 2041 2032 5. Redemption. All Bonds maturing on December 15, 2031 and thereafter, shall be subject to redemption and prepayment at the option of the City on December 15, 2030, and on any date thereafter at a price of par plus accrued interest. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the maturities and the principal amounts within each maturity to be redeemed shall be determined by the City; and if only part of 5913634v1 8 the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Bonds or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of redemption shall be given to the paying agent and to each affected registered holder of the Bonds at least thirty (30) days prior to the date fixed for redemption. To effect a partial redemption of Bonds having a common maturity date, the Bond Registrar prior to giving notice of redemption shall assign to each Bond having a common maturity date a distinctive number for each $5,000 of the principal amount of such Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers so assigned to such Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, that only so much of the principal amount of each such Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the City or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the City and Bond Registrar duly executed by the Holder thereof or the Holder's attorney duly authorized in writing) and the City shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of the Bond, without service charge, a new Bond or Bonds having the same stated maturity and interest rate and of any Authorized Denomination or Denominations, as requested by the Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. 6. Bond Registrar. Northland Trust Services, Inc., in Minneapolis, Minnesota, is appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond Registrar"), and shall do so unless and until a successor Bond Registrar is duly appointed, all pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. The Bond Registrar shall also serve as paying agent unless and until a successor paying agent is duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 12. 7. Form of Bond. The Bonds, together with the Bond Registrar's Certificate of Authentication, the form of Assignment and the registration information thereon, shall be in substantially the following form: 5913634v1 9 UNITED STATES OF AMERICA STATE OF MINNESOTA STEARNS COUNTY CITY OF ST. JOSEPH R-_______ $_________ GENERAL OBLIGATION BOND, SERIES 2022A Interest Rate Maturity Date Date of Original Issue CUSIP % December 15, August 30, 2022 REGISTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: THE CITY OF ST. JOSEPH, STEARNS COUNTY, MINNESOTA (the "Issuer"), certifies that it is indebted and for value received promises to pay to the registered owner specified above, or registered assigns, unless called for earlier redemption, in the manner hereinafter set forth, the principal amount specified above, on the maturity date specified above, and to pay interest thereon semiannually on June 15 and December 15 of each year (each, an "Interest Payment Date"), commencing June 15, 2023, at the rate per annum specified above (calculated on the basis of a 360-day year of twelve 30-day months) until the principal sum is paid or has been provided for. This Bond will bear interest from the most recent Interest Payment Date to which interest has been paid or, if no interest has been paid, from the date of original issue hereof. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of Northland Trust Services, Inc., in Minneapolis, Minnesota (the "Bond Registrar"), acting as paying agent, or any successor paying agent duly appointed by the Issuer. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the person in whose name this Bond is registered (the "Holder" or "Bondholder") on the registration books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the close of business on the first day of the calendar month of such Interest Payment Date (the "Regular Record Date"). Any interest not so timely paid shall cease to be payable to the person who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who is the Holder hereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given to Bondholders not less than ten days prior to the Special Record Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America. So long as this Bond is registered in the name of the Depository or its Nominee as provided in the Resolution hereinafter described, and as those terms are defined therein, payment of principal of, premium, if any, and interest on this Bond and notice with respect thereto shall be made as provided in the Letter of Representations, as defined in the Resolution, and surrender of this Bond shall not be required for payment of the redemption price upon a partial redemption of this Bond. Until termination of the book-entry only system pursuant to the Resolution, Bonds may only be registered in the name of the Depository or its Nominee. 5913634v1 10 Optional Redemption. All Bonds of this issue (the "Bonds") maturing on December 15, 2031, and thereafter, are subject to redemption and prepayment at the option of the Issuer on December 15, 2030, and on any date thereafter at a price of par plus accrued interest. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the maturities and the principal amounts within each maturity to be redeemed shall be determined by the Issuer; and if only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Bonds or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of redemption shall be given to the paying agent and to each affected registered holder of the Bonds thirty (30) days prior to the date fixed for redemption. Prior to the date on which any Bond or Bonds are directed by the Issuer to be redeemed in advance of maturity, the Issuer will cause notice of the call thereof for redemption identifying the Bonds to be redeemed to be mailed to the Bond Registrar and all Bondholders, at the addresses shown on the Bond Register. All Bonds so called for redemption will cease to bear interest on the specified redemption date, provided funds for their redemption have been duly deposited. Selection of Bonds for Redemption; Partial Redemption. To effect a partial redemption of Bonds having a common maturity date, the Bond Registrar shall assign to each Bond having a common maturity date a distinctive number for each $5,000 of the principal amount of such Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers assigned to the Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, that only so much of the principal amount of such Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the Issuer or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the Issuer and Bond Registrar duly executed by the Holder thereof or the Holder's attorney duly authorized in writing) and the Issuer shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of the Bond, without service charge, a new Bond or Bonds having the same stated maturity and interest rate and of any Authorized Denomination or Denominations, as requested by the Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. Issuance; Purpose; General Obligation. This Bond is one of an issue in the total principal amount of $7,510,000, all of like date of original issue and tenor, except as to number, maturity, interest rate, denomination and redemption privilege, issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by the City Council on August 1, 2022 (the "Resolution"), for the purpose of providing money to finance various projects within the jurisdiction of the Issuer. This Bond is payable out of the General Obligation Bonds, Series 2022A Fund of the Issuer. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, and interest when the same become due, the full faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. 5913634v1 11 Denominations; Exchange; Resolution. The Bonds are issuable solely in fully registered form in Authorized Denominations (as defined in the Resolution) and are exchangeable for fully registered Bonds of other Authorized Denominations in equal aggregate principal amounts at the principal office of the Bond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal office of the Bond Registrar. Transfer. This Bond is transferable by the Holder in person or the Holder's attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Bond Registrar, all subject to the terms and conditions provided in the Resolution and to reasonable regulations of the Issuer contained in any agreement with the Bond Registrar. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of the transferee (but not registered in blank or to "bearer" or similar designation), of an Authorized Denomination or Denominations, in aggregate principal amount equal to the principal amount of this Bond, of the same maturity and bearing interest at the same rate. Fees upon Transfer or Loss. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of this Bond and any legal or unusual costs regarding transfers and lost Bonds. Treatment of Registered Owners. The Issuer and Bond Registrar may treat the person in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided (except as otherwise provided herein with respect to the Record Date) and for all other purposes, whether or not this Bond shall be overdue, and neither the Issuer nor the Bond Registrar shall be affected by notice to the contrary. Authentication. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security unless the Certificate of Authentication hereon shall have been executed by the Bond Registrar. Qualified Tax-Exempt Obligation. This Bond has been designated by the Issuer as a "qualified tax-exempt obligation" for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and to be performed, precedent to and in the issuance of this Bond, have been done, have happened and have been performed, in regular and due form, time and manner as required by law; and that this Bond, together with all other debts of the Issuer outstanding on the date of original issue hereof and the date of its issuance and delivery to the original purchaser, does not exceed any constitutional or statutory limitation of indebtedness. 5913634v1 12 IN WITNESS WHEREOF, the City of St. Joseph, Stearns County, Minnesota, by its City Council has caused this Bond to be executed on its behalf by the facsimile signatures of its Mayor and its Administrator, the corporate seal of the Issuer having been intentionally omitted as permitted by law. Date of Registration: BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the Resolution mentioned within. NORTHLAND TRUST SERVICES, INC. Minneapolis, Minnesota, Bond Registrar By: Authorized Signature Registrable by: NORTHLAND TRUST SERVICES, INC. Payable at: NORTHLAND TRUST SERVICES, INC. CITY OF ST. JOSEPH, STEARNS COUNTY, MINNESOTA /s/ Facsimile Mayor /s/ Facsimile Administrator 5913634v1 13 ABBREVIATIONS The following abbreviations, when used in the inscription on the face of this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right of survivorship and not as tenants in common UTMA - ___________ as custodian for ______________ (Cust) (Minor) under the _____________________ Uniform (State) Transfers to Minors Act Additional abbreviations may also be used though not in the above list. ___________________________________________________________ ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto ________________________________________________________________ the within Bond and does hereby irrevocably constitute and appoint _________________ attorney to transfer the Bond on the books kept for the registration thereof, with full power of substitution in the premises. Dated:_____________________ ___________________________ Notice: The assignor's signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or any change whatever. Signature Guaranteed: ___________________________ Signature(s) must be guaranteed by a national bank or trust company or by a brokerage firm having a membership in one of the major stock exchanges or any other "Eligible Guarantor Institution" as defined in 17 CFR 240.17 Ad-15(a)(2). The Bond Registrar will not affect transfer of this Bond unless the information concerning the transferee requested below is provided. Name and Address: ________________________________________ ________________________________________ ________________________________________ (Include information for all joint owners if the Bond is held by joint account.) 5913634v1 14 8. Execution. The Bonds shall be in typewritten form, shall be executed on behalf of the City by the signatures of its Mayor and Administrator and be sealed with the seal of the City; provided, as permitted by law, both signatures may be photocopied facsimiles and the corporate seal has been omitted. In the event of disability or resignation or other absence of either officer, the Bonds may be signed by the manual or facsimile signature of the officer who may act on behalf of the absent or disabled officer. In case either officer whose signature or facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, the signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if the officer had remained in office until delivery. 9. Authentication. No Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this resolution unless a Certificate of Authentication on the Bond, substantially in the form hereinabove set forth, shall have been duly executed by an authorized representative of the Bond Registrar. Certificates of Authentication on different Bonds need not be signed by the same person. The Bond Registrar shall authenticate the signatures of officers of the City on each Bond by execution of the Certificate of Authentication on the Bond and by inserting as the date of registration in the space provided the date on which the Bond is authenticated, except that for purposes of delivering the original Bonds to the Purchaser, the Bond Registrar shall insert as a date of registration the date of original issue, which date is August 30, 2022. The Certificate of Authentication so executed on each Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. 10. Registration; Transfer; Exchange. The City will cause to be kept at the principal office of the Bond Registrar a bond register in which, subject to such reasonable regulations as the Bond Registrar may prescribe, the Bond Registrar shall provide for the registration of Bonds and the registration of transfers of Bonds entitled to be registered or transferred as herein provided. Upon surrender for transfer of any Bond at the principal office of the Bond Registrar, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration (as provided in paragraph 9) of, and deliver, in the name of the designated transferee or transferees, one or more new Bonds of any Authorized Denomination or Denominations of a like aggregate principal amount, having the same stated maturity and interest rate, as requested by the transferor; provided, however, that no Bond may be registered in blank or in the name of "bearer" or similar designation. At the option of the Holder, Bonds may be exchanged for Bonds of any Authorized Denomination or Denominations of a like aggregate principal amount and stated maturity, upon surrender of the Bonds to be exchanged at the principal office of the Bond Registrar. Whenever any Bonds are so surrendered for exchange, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration of, and deliver the Bonds which the Holder making the exchange is entitled to receive. All Bonds surrendered upon any exchange or transfer provided for in this resolution shall be promptly canceled by the Bond Registrar and thereafter disposed of as directed by the City. All Bonds delivered in exchange for or upon transfer of Bonds shall be valid general obligations of the City evidencing the same debt, and entitled to the same benefits under this resolution, as the Bonds surrendered for such exchange or transfer. 5913634v1 15 Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the Bond Registrar, duly executed by the Holder thereof or the Holder's attorney duly authorized in writing. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of any Bond and any legal or unusual costs regarding transfers and lost Bonds. Transfers shall also be subject to reasonable regulations of the City contained in any agreement with the Bond Registrar, including regulations which permit the Bond Registrar to close its transfer books between record dates and payment dates. The Finance Director is hereby authorized to negotiate and execute the terms of said agreement. 11. Rights Upon Transfer or Exchange. Each Bond delivered upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond. 12. Interest Payment; Record Date. Interest on any Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond is registered (the "Holder") on the registration books of the City maintained by the Bond Registrar and at the address appearing thereon at the close of business on the first day of the calendar month of such Interest Payment Date (the "Regular Record Date"). Any such interest not so timely paid shall cease to be payable to the person who is the Holder thereof as of the Regular Record Date, and shall be payable to the person who is the Holder thereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given by the Bond Registrar to the Holders not less than ten days prior to the Special Record Date. 13. Treatment of Registered Owner. The City and Bond Registrar may treat the person in whose name any Bond is registered as the owner of such Bond for the purpose of receiving payment of principal of and premium, if any, and interest (subject to the payment provisions in paragraph 12) on, such Bond and for all other purposes whatsoever whether or not such Bond shall be overdue, and neither the City nor the Bond Registrar shall be affected by notice to the contrary. 14. Delivery; Application of Proceeds. The Bonds when so prepared and executed shall be delivered by the Finance Director to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obliged to see to the proper application thereof. 15. Fund and Accounts. There is hereby established a special fund to be designated "General Obligation Bonds, Series 2022A Fund" (the "Fund") to be administered and maintained by the Finance Director as a bookkeeping account separate and apart from all other funds maintained in the official financial records of the City. The Fund shall be maintained in the manner herein specified until all of the Bonds and the interest thereon have been fully paid. There shall be maintained in the Fund two (2) separate accounts to be designated the "Capital Account" and the "Debt Service Account.": 5913634v1 16 (a) Capital Account. To the Capital Account there shall be credited the proceeds of the sale of the Bonds, plus any special assessments levied with respect to the Improvements and collected prior to completion of the Improvements and payment of the costs thereof. From the Capital Account there shall be paid all costs and expenses of making the Project, including the cost of any construction contracts heretofore let and all other costs incurred and to be incurred of the kind authorized in Minnesota Statutes, Section 475.65; and the moneys in the Capital Account shall be used for no other purpose except as otherwise provided by law; provided that the proceeds of the Bonds may also be used to the extent necessary to pay interest on the Bonds due prior to the anticipated date of commencement of the receipt of the collection of taxes or special assessments herein levied or covenanted to be levied; and provided further that if upon completion of the Project, there shall remain any unexpended balance in the Capital Account, the balance (other than any special assessments) may be transferred to the Debt Service Account or any funds attributable to the Improvement Portion of the Bonds to the fund of any other improvement instituted pursuant to Minnesota Statutes, Chapter 429, and provided further that any special assessments credited to the Capital Account shall only be applied towards payment of the costs of the Improvements upon adoption of a resolution by the City Council determining that the application of the special assessments for such purpose will not cause the City to no longer be in compliance with Minnesota Statutes, Section 475.61, Subdivision 1. (b) Debt Service Account. There shall be maintained three separate subaccounts in the Debt Service Account to be designated the "Improvement Debt Service Subaccount", "Tax Abatement Project Debt Service Subaccount" and the "Equipment Debt Service Subaccount". There are hereby irrevocably appropriated and pledged to, and there shall be credited to the separate subaccounts of the Debt Service Account: (i) Improvement Debt Service Subaccount. To the Improvement Debt Service Subaccount there shall be credited: (A) all collections of special assessments herein covenanted to be levied with respect to the Improvements and either initially credited to the Capital Account and not already spent as permitted above and required to pay any principal and interest due on the Improvement Portion of the Bonds or collected subsequent to the completion of the Improvements and payment of the costs thereof; (B) collections of all taxes herein and hereinafter levied for the payment of the Improvement Portion of the Bonds and interest thereon; (C) a pro rata share of all funds remaining in the Capital Account after completion of the Improvements and payment of the costs thereof; (D) all investment earnings on funds held in the Improvement Debt Service Subaccount; and (E) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Improvement Debt Service Subaccount. The Improvement Debt Service Subaccount shall be used solely to pay the principal and interest and any premium for redemption of the Improvement Portion of the Bonds and any other general obligation bonds of the City hereafter issued by the City and made payable from said subaccount as provided by law. (ii) Equipment Debt Service Subaccount. To the Equipment Debt Service Subaccount there shall be credited: (A) all taxes herein and hereafter levied for the payment of the Equipment Portion of the Bonds; (B) a pro rata share of all funds remaining in the Capital Account after completion of the Project and 5913634v1 17 payment of the costs thereof; (C) all investment earnings on funds held in the Equipment Debt Service Subaccount; and (D) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Equipment Debt Service Subaccount. The Equipment Debt Service Subaccount shall be used solely to pay the principal and interest and any premiums for redemption of the Equipment Portion of the Bonds. (iii) Tax Abatement Project Debt Service Subaccount. To the Tax Abatement Project Debt Service Subaccount there is hereby irrevocably appropriated and pledged, and there shall be credited (A) Tax Abatements in an amount sufficient to pay the annual principal payments on the Tax Abatement Portion of the Bonds; (B) collections of all taxes herein and hereafter levied for the payment of the interest on the Tax Abatement Portion of the Bonds; (C) a pro rata share of all funds remaining in the Capital Account after completion of the Project and payment of the costs thereof; (D) all investment earnings on funds held in the Tax Abatement Project Debt Service Subaccount; and (E) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Tax Abatement Project Debt Service Subaccount. The Tax Abatement Project Debt Service Subaccount shall be used solely to pay the principal and interest and any premiums for redemption of the Tax Abatement Portion of the Bonds. No portion of the proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire higher yielding investments, except (1) for a reasonable temporary period until such proceeds are needed for the purpose for which the Bonds were issued and (2) in addition to the above in an amount not greater than the lesser of five percent of the proceeds of the Bonds or $100,000. To this effect, any proceeds of the Bonds and any sums from time to time held in the Capital Account or Debt Service Account (or any other City account which will be used to pay principal or interest to become due on the bonds payable therefrom) in excess of amounts which under then applicable federal arbitrage regulations may be invested without regard to yield shall not be invested at a yield in excess of the applicable yield restrictions imposed by said arbitrage regulations on such investments after taking into account any applicable "temporary periods" or "minor portion" made available under the federal arbitrage regulations. Money in the Fund shall not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section 149(b) of the Internal Revenue Code of 1986, as amended (the "Code"). 16. Covenants Relating to the Improvement Portion of the Bonds. (a) Special Assessments. It is hereby determined that no less than twenty percent of the cost to the City of each Improvement financed hereunder within the meaning of Minnesota Statutes, Section 475.58, Subdivision 1(3), shall be paid by special assessments to be levied against every assessable lot, piece and parcel of land benefited by any of the Improvements. The City hereby covenants and agrees that it will let all construction contracts not heretofore let within one year after ordering each Improvement financed hereunder unless the resolution ordering the Improvement specifies a different time limit for the letting of construction contracts. The City hereby further covenants and agrees that it will do and perform as soon as they may be done all acts and things necessary for the final and valid levy of such special assessments, and in 5913634v1 18 the event that any such assessment be at any time held invalid with respect to any lot, piece or parcel of land due to any error, defect, or irregularity in any action or proceedings taken or to be taken by the City or the City Council or any of the City officers or employees, either in the making of the assessments or in the performance of any condition precedent thereto, the City and the City Council will forthwith do all further acts and take all further proceedings as may be required by law to make the assessments a valid and binding lien upon such property. The special assessments have heretofore been authorized. Subject to such adjustments as are required by conditions in existence at the time the assessments are levied, it is hereby determined that the assessments shall be payable in equal, consecutive, annual installments, including both principal and interest, with interest at a rate per annum: Improvement Designation Amount Levy Years Collection Years Rate See Attached Schedule in Exhibit A At the time the assessments are in fact levied the City Council shall, based on the then- current estimated collections of the assessments, make any adjustments in any ad valorem taxes required to be levied in order to assure that the City continues to be in compliance with Minnesota Statutes, Section 475.61, Subdivision 1. (b) Tax Levy. To provide moneys for payment of the principal and interest on the Improvement Portion of the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Levy Year of Tax Collection Amount See Attached Schedule in Exhibit B (c) Coverage Test. The tax levies are such that if collected in full they, together with estimated collections of special assessments and other revenues herein pledged for the payment of the Improvement Portion of the Bonds, will produce at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Improvement Portion of the Bonds. The tax levies shall be irrepealable so long as any of the Improvement Portion of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3." 17. Covenants Relating to the Equipment Portion of the Bonds. To provide moneys for payment of the principal and interest on the Equipment Portion of the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Levy Year of Tax Collection Amount 5913634v1 19 See Attached Schedule in Exhibit A The tax levies are such that if collected in full they, together with other revenues herein pledged for the payment of the Equipment Portion of the Bonds, will produce at least five percent in excess of the amount needed to meet when due the principal and interest payments on the Equipment Portion of the Bonds. The tax levies shall be irrepealable so long as any of the Equipment Portion of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3. 18. Covenants Relating to the Tax Abatement Portion of the Bonds. (a) Tax Abatements; Use of Tax Abatements. The Council has adopted the Tax Abatement Resolution and has thereby approved the Tax Abatements, including the pledge thereof to the payment of principal of the Tax Abatement Portion of the Bonds. As provided in the Tax Abatement Resolution, the estimated total amount of Tax Abatements, if received as estimated for the full maximum term thereof, is $6,125,000, and therefore the principal amount of the Tax Abatement Portion of the Bonds does not exceed the maximum projected amount of the Tax Abatements. The Council hereby confirms the Tax Abatement Resolution, which is hereby incorporated as though set forth herein. (b) Tax Levy; Coverage Test. To provide moneys for payment of the interest on the Tax Abatement Portion of the Bonds, there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Levy Year of Tax Collection Amount See Attached Schedule in Exhibit A The tax levies are such that if collected in full they, together with estimated collections of Tax Abatements, will produce at least five percent in excess of the amount needed to meet when due the principal and interest payments on the Tax Abatement Portion of the Bonds. The tax levies shall be irrepealable so long as any of the Tax Abatement Portion of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3. 19. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Bonds, as the same respectively become due, the full faith, credit and taxing powers of the City shall be and are hereby irrevocably pledged. If the balance in the Debt Service Account is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency shall be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein. 20. Defeasance. When all Bonds have been discharged as provided in this paragraph, all pledges, covenants and other rights granted by this resolution to the registered holders of the Bonds shall, to the extent permitted by law, cease. The City may discharge its obligations with 5913634v1 20 respect to any Bonds which are due on any date by irrevocably depositing with the Bond Registrar on or before that date a sum sufficient for the payment thereof in full; or if any Bond should not be paid when due, it may nevertheless be discharged by depositing with the Bond Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. The City may also discharge its obligations with respect to any prepayable Bonds called for redemption on any date when they are prepayable according to their terms, by depositing with the Bond Registrar on or before that date a sum sufficient for the payment thereof in full, provided that notice of redemption thereof has been duly given. The City may also at any time discharge its obligations with respect to any Bonds, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a suitable banking institution qualified by law as an escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, Subdivision 8, bearing interest payable at such times and at such rates and maturing on such dates as shall be required, without regard to sale and/or reinvestment, to pay all amounts to become due thereon to maturity or, if notice of redemption as herein required has been duly provided for, to such earlier redemption date. 21. Compliance With Reimbursement Bond Regulations. The provisions of this paragraph are intended to establish and provide for the City's compliance with United States Treasury Regulations Section 1.150-2 (the "Reimbursement Regulations") applicable to the "reimbursement proceeds" of the Bonds, being those portions thereof which will be used by the City to reimburse itself for any expenditure which the City paid or will have paid prior to the Closing Date (a "Reimbursement Expenditure"). The City hereby certifies and/or covenants as follows: (a) Not later than 60 days after the date of payment of a Reimbursement Expenditure, the City (or person designated to do so on behalf of the City) has made or will have made a written declaration of the City's official intent (a "Declaration") which effectively (i) states the City's reasonable expectation to reimburse itself for the payment of the Reimbursement Expenditure out of the proceeds of a subsequent borrowing; (ii) gives a general and functional description of the property, project or program to which the Declaration relates and for which the Reimbursement Expenditure is paid, or identifies a specific fund or account of the City and the general functional purpose thereof from which the Reimbursement Expenditure was to be paid (collectively the "Project"); and (iii) states the maximum principal amount of debt expected to be issued by the City for the purpose of financing the Project; provided, however, that no such Declaration shall necessarily have been made with respect to: (i) "preliminary expenditures" for the Project, defined in the Reimbursement Regulations to include engineering or architectural, surveying and soil testing expenses and similar prefatory costs, which in the aggregate do not exceed 20% of the "issue price" of the Bonds, and (ii) a de minimis amount of Reimbursement Expenditures not in excess of the lesser of $100,000 or 5% of the proceeds of the Bonds. (b) Each Reimbursement Expenditure is a capital expenditure or a cost of issuance of the Bonds or any of the other types of expenditures described in Section 1.150-2(d)(3) of the Reimbursement Regulations. (c) The "reimbursement allocation" described in the Reimbursement Regulations for each Reimbursement Expenditure shall and will be made forthwith following (but not prior to) the issuance of the Bonds, and not later than 18 months after the later of (i) the date of the 5913634v1 21 payment of the Reimbursement Expenditure, or (ii) the date on which the Project to which the Reimbursement Expenditure relates is first placed in service, but in no event more than three years after the date of payment of the Reimbursement Expenditure. (d) Each such reimbursement allocation will be made in a writing that evidences the City's use of Bond proceeds to reimburse the Reimbursement Expenditure and, if made within 30 days after the Bonds are issued, shall be treated as made on the day the Bonds are issued. Provided, however, that the City may take action contrary to any of the foregoing covenants in this paragraph upon receipt of an opinion of its Bond Counsel for the Bonds stating in effect that such action will not impair the tax-exempt status of the Bonds. 22. Certificate of Registration. A certified copy of this resolution is hereby directed to be filed in the office of the County Auditor of Stearns County, together with such other information as the County Auditor shall require, and to obtain the County Auditor's Certificate that the Bonds have been entered in the Bond Register and the tax levies required by law have been made. 23. Continuing Disclosure. The City is the sole obligated person with respect to the Bonds. The City hereby agrees, in accordance with the provisions of Rule 15c2-12 (the "Rule"), promulgated by the Securities and Exchange Commission (the "Commission") pursuant to the Securities Exchange Act of 1934, as amended, and a Continuing Disclosure Undertaking (the "Undertaking") hereinafter described to: (a) Provide or cause to be provided to the Municipal Securities Rulemaking Board (the "MSRB") by filing at www.emma.msrb.org in accordance with the Rule, certain annual financial information and operating data in accordance with the Undertaking. The City reserves the right to modify from time to time the terms of the Undertaking as provided therein. (b) Provide or cause to be provided to the MSRB notice of the occurrence of certain events with respect to the Bonds in not more than ten (10) business days after the occurrence of the event, in accordance with the Undertaking. (c) Provide or cause to be provided to the MSRB notice of a failure by the City to provide the annual financial information with respect to the City described in the Undertaking, in not more than ten (10) business days following such occurrence. (d) The City agrees that its covenants pursuant to the Rule set forth in this paragraph and in the Undertaking is intended to be for the benefit of the Holders of the Bonds and shall be enforceable on behalf of such Holders; provided that the right to enforce the provisions of these covenants shall be limited to a right to obtain specific enforcement of the City's obligations under the covenants. The Mayor and Administrator of the City, or any other officer of the City authorized to act in their place (the "Officers") are hereby authorized and directed to execute on behalf of the City the Undertaking in substantially the form presented to the City Council subject to such modifications thereof or additions thereto as are (i) consistent with the requirements under the Rule, (ii) required by the Purchaser of the Bonds, and (iii) acceptable to the Officers. 5913634v1 22 24. Records and Certificates. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser, and to the attorneys approving the legality of the issuance of the Bonds, certified copies of all proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. 25. Negative Covenant as to Use of Bond Proceeds and Project. The City hereby covenants not to use the proceeds of the Bonds or to use the Project, or to cause or permit them to be used, or to enter into any deferred payment arrangements for the cost of the Project, in such a manner as to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code. 26. Tax-Exempt Status of the Bonds; Rebate. 27. Allocation to the Improvement Portion of the Bonds and the Tax Abatement Portion of the Bonds. The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Improvement Portion of the Bonds and the Tax Abatement Portion of the Bonds, including without limitation (i) requirements relating to temporary periods for investments, (ii) limitations on amounts invested at a yield greater than the yield on the Improvement Portion of the Bonds and the Tax Abatement Portion of the Bonds, and (iii) the rebate of excess investment earnings to the United States. The City expects to satisfy the 24-month exemption for gross proceeds of the Improvement Portion of the Bonds and the Tax Abatement Portion of the Bonds as provided in Section 1.148-7(e) of the Regulations. The Mayor and/or Administrator and/or Finance Director are hereby authorized and directed to make such elections as to arbitrage and rebate matters relating to the Improvement Portion of the Bonds and the Tax Abatement Portion of the Bonds as they deem necessary, appropriate or desirable in connection with the Improvement Portion of the Bonds and the Tax Abatement Portion of the Bonds, and all such elections shall be, and shall be deemed and treated as, elections of the City. 28. Allocation to the Equipment Portion of the Bonds. The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Equipment Portion of the Bonds, including without limitation (a) requirements relating to temporary periods for investments, (b) limitations on amounts invested at a yield greater than the yield on the Equipment Portion of the Bonds, and (c) the rebate of excess investment earnings to the United States. The City expects to satisfy the 18-month expenditure exemption for gross proceeds of the Equipment Portion of the Bonds as provided in Section 1.148-7(d) of the Regulations. The Mayor and/or Administrator and/or Finance Director are hereby authorized and directed to make such elections as to arbitrage and rebate matters relating to the Bonds as they deem necessary, appropriate or desirable in connection with the Bonds, and all such elections shall be, and shall be deemed and treated as, elections of the City. 29. Designation of Qualified Tax-Exempt Obligations. In order to qualify the Bonds as "qualified tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code, the City hereby makes the following factual statements and representations: 5913634v1 23 (a) the Bonds are issued after August 7, 1986; (b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; (c) the City hereby designates the Bonds as "qualified tax exempt obligations" for purposes of Section 265(b)(3) of the Code; (d) the reasonably anticipated amount of tax exempt obligations (other than private activity bonds, treating qualified 501(c)(3) bonds as not being private activity bonds) which will be issued by the City (and all entities treated as one issuer with the City, and all subordinate entities whose obligations are treated as issued by the City) during this calendar year 2022 will not exceed $10,000,000; (e) not more than $10,000,000 of obligations issued by the City during this calendar year 2022 have been designated for purposes of Section 265(b)(3) of the Code; and (f) the aggregate face amount of the Bonds does not exceed $10,000,000. The City shall use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designation made by this paragraph. 30. Official Statement. The Official Statement relating to the Bonds prepared and distributed by the Purchaser is hereby approved and the officers of the City are authorized in connection with the delivery of the Bonds to sign such certificates as may be necessary with respect to the completeness and accuracy of the Official Statement. 31. Severability. If any section, paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. 32. Headings. Headings in this resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing resolution was duly seconded by member Beaton and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: _____________________; and the following voted against the same: ______________. Whereupon the resolution was declared duly passed and adopted. CITY OF ST. JOSEPH Rick Schultz, Mayor ATTEST Therese Haffner, Administrator 5913634v1 24 STATE OF MINNESOTA COUNTY OF STEARNS CITY OF ST. JOSEPH I, the undersigned, being the duly qualified and acting Administrator of the City of St. Joseph, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council, duly called and held on the date therein indicated, insofar as such minutes relate to authorizing the issuance and awarding the sale of $7,510,000 General Obligation Bonds, Series 2022A. WITNESS my hand on August 1, 2022. ________________________________ Administrator 5913634v1 25 EXHIBIT A SCHEDULES [To be supplied by Northland Securities, Inc.] Summary: St. Joseph, Minnesota; General Obligation Primary Credit Analyst: Melody W Vinje, Centennial + 1 (303) 721 4163; melody.vinje@spglobal.com Secondary Contact: Emily Powers, Santa Fe + 1 (312) 233 7030; emily.powers@spglobal.com Table Of Contents Rating Action Overview Outlook Related Research WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 21, 2022 1 Summary: St. Joseph, Minnesota; General Obligation Credit Profile US$7.51 mil GO bnds ser 2022A due 12/15/2042 Long Term Rating AA-/Stable New St. Joseph GO Long Term Rating AA-/Stable Affirmed St. Joseph GO bnds Long Term Rating AA-/Stable Affirmed St. Joseph GO bnds ser 2021A due 12/15/2036 Long Term Rating AA-/Stable Affirmed Rating Action Overview S&P Global Ratings assigned its 'AA-' long-term rating to St. Joseph, Minn.'s $7.5 million series 2022A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA-' long-term and underlying rating (SPUR) on the city's existing GO debt. The outlook is stable Security The city's full faith-and-credit-GO pledge secures the bonds, including its ability to levy ad valorem taxes on all real property in the city. The bonds are payable from special assessments, net revenues from the city's water and sewer utilities, and ad valorem taxes, but the rating is based on the unlimited ad valorem tax pledge. We understand officials intend to use series 2022 bond proceeds to finance a portion of a new community center, purchase a new fire truck, and various street improvements. Credit overview St. Joseph is in the St. Cloud metropolitan statistical area (MSA) in central Minnesota. Lower-than-average income levels are partially due to the presence of the student population, however economic weakness are partially offset by continued market value growth driven by commercial and residential development (see our analysis on the City of St. Joseph, published Aug. 4, 2021, on RatingsDirect). Recent commercial activity includes the Trobec bus service company making its headquarters in the city, and continued redevelopment downtown such as a new brewery and distillery. We believe the city will continue to maintain its track record of well managed finances and robust reserves. The city has a history of stable financial performance due to management's conservative budgeting practices, producing another year of positive operations in fiscal 2021. The city maintains reserves at levels above its fund balanced policy of four-to-six months of expenditures, which we believe provides financial flexibility in times of stress and a credit strength. The city maintains two privately placed bank loans with a total of $287,000 outstanding; the WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 21, 2022 2 agreements for each contain no events of default or covenant violations that we deem nonstandard pursuant to our contingent liquidity criteria. Budgeted fiscal 2022 estimates a deficit ($242,000) for the city's discretionary transfers to the capital improvement funds, but, based on conservative budgeting practices and year-to-date performance, the city expects positive results. Management continues to monitor expenses, indicating it could hold off on planned purchases depending on the impact of rising inflation and availability of equipment. As part of the city's rolling capital planning, it plans to issue about $900,000 in 2023 for street overlay financing and equipment needs. In 2024, the city could issue up to $10 million for phase 2 of its planned community center and sewer improvements. St. Joseph will receive $2 million from the City of Foley, in exchange for sewer capacity at the shared treatment facility. Officials have earmarked these funds to reduce St. Joseph's sewer debt outstanding. With the planned future debt issuances, we expect that the debt profile will remain weak for the foreseeable future. The 'AA-' rating reflects our view of the city's: Small local economy, with access to an MSA and a local stabilizing institutional influence, partially offsetting low income levels, and consistent market value growth; Strong management, with good financial policies and practices under on Financial Management Assessment methodology; Healthy financial performance including four consecutive years of positive operation, ample budgetary flexibility in line with fund balance policy, and very strong liquidity with total governmental available cash of $10.1 million (or after 174% of total governmental expenditures) after adjusting for unspent bond proceeds at fiscal 2021 year-end; Weak debt and contingent liability, with high debt service fixed costs but rapid amortization with 83% of debt scheduled to be retired in 10 years; and Strong institutional framework. Environmental, social, and governance We have analyzed the city's environmental, social, and governance risks relative to its economy, management, budgetary outcomes, and debt and liability profile, and determined that all are credit neutral. Outlook The stable outlook reflects our expectation that the city will maintain balanced operations in the next two years, despite potential inflationary impacts. In addition, we view other credit factors as stable an unlikely to materially change within the outlook period of two years. Downside scenario We could lower the rating if financial performance and reserves experience sustained deterioration, resulting in a worsening of reserves to a level that we no longer consider comparable with that of similarly-rated peers. WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 21, 2022 3 Summary: St. Joseph, Minnesota; General Obligation Upside scenario We could raise the rating if the city's income indicators and market value per capital improve significantly, in conjunction with a more moderate debt profile while the city maintains current financial performance. St. Joseph, Minn.--Key Credit Metrics Most recent Historical information 2021 2020 2019 Strong economy Projected per capita EBI % of U.S.64.0 Market value per capita ($)81,533 Population 7,108 6,970 6,948 County unemployment rate(%)3.6 Market value ($000)579,534 538,452 504,889 Ten largest taxpayers % of taxable value 11.3 Strong budgetary performance Operating fund result % of expenditures 4.0 4.9 4.3 Total governmental fund result % of expenditures 19.2 10.8 9.6 Very strong budgetary flexibility Available reserves % of operating expenditures 96.7 74.3 91.3 Total available reserves ($000)4,181 3,543 3,266 Very strong liquidity Total government cash % of governmental fund expenditures 174.5 139.9 143.7 Total government cash % of governmental fund debt service 630.2 415.1 624.5 Strong management Financial Management Assessment Good Weak debt and long-term liabilities Debt service % of governmental fund expenditures 27.7 33.7 23.0 Net direct debt % of governmental fund revenue 376.8 Overall net debt % of market value 6.3 Direct debt 10-year amortization (%)83.0 Required pension contribution % of governmental fund expenditures 3.7 OPEB actual contribution % of governmental fund expenditures -- Strong institutional framework Data points and ratios may reflect analytical adjustments. EBI--Effective buying income. OPEB--Other postemployment benefits. Related Research Through The ESG Lens 3.0: The Intersection Of ESG Credit Factors And U.S. Public Finance Credit Factors, March 2, 2022 Ratings Detail (As Of July 21, 2022) WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 21, 2022 4 Summary: St. Joseph, Minnesota; General Obligation Ratings Detail (As Of July 21, 2022) (cont.) St. Joseph GO cap imp plan rfdg bnds Long Term Rating AA-/Stable Affirmed St. Joseph GO imp bnds ser 2010B dtd 09/01/2010 due 12/01/2011-2020 2023 2025 Long Term Rating AA-/Stable Affirmed St. Joseph GO tax abatement bnds ser 2015B dtd 08/01/2015 due 12/01/2030 Long Term Rating AA-/Stable Affirmed Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column. WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 21, 2022 5 Summary: St. Joseph, Minnesota; General Obligation WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 21, 2022 6 STANDARD & POOR’S, S&P and RATINGSDIRECT are registered trademarks of Standard & Poor’s Financial Services LLC. S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P reserves the right to disseminate its opinions and analyses. 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Council Agenda Item 5b ______ MEETING DATE: August 1, 2022 AGENDA ITEM: Tammy Omdal - Debt Management Study SUBMITTED BY: Finance /Financial Advisor BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None PREVIOUS COUNCIL ACTION: None BACKGROUND INFORMATION: Annually, Tammy Omdal, financial advisor from Northland Securities, prepares an analysis of the outstanding bonds held by the City of St. Joseph. The 2022 debt study (with balances as of 12/31/21 plus the 2022A bond issue) will presented and handed out at the meeting. Tammy prepared with the assistance of Finance. The debt study provides information of what the required tax levies and other revenue sources should be, what debts might be a candidate to refund or payoff early, how many years remain on each debt, and the summary of the debt costs versus the requirements to pay the total debt. BUDGET/FISCAL IMPACT: Information Only ATTACHMENTS: Debt Management Study REQUESTED COUNCIL ACTION: The debt management study is information only for the council. The study assists with budget and the fee schedule preparation. Northland Securities, Inc. 150 South Fifth Street, Suite 3300, Minneapolis, MN 55402 Main: (612) 851-5900 / Direct: (612) 851-4964 / Email: tomdal@northlandsecurities.com Member FINRA and SIPC | Registered with SEC and MSRB City of St. Joseph Debt Study for Year 2022 Prepared by Northland Public Finance 8/1/2022 Northland Securities, Inc. 150 South Fifth Street, Suite 3300, Minneapolis, MN 55402 Main: (612) 851-5900 / Direct: (612) 851-4964 / Email: tomdal@northlandsecurities.com Member FINRA and SIPC | Registered with SEC and MSRB July 25, 2022 Lori Bartlett, Finance Director City of Saint Joseph 75 Callaway St E Saint Joseph, MN 56374 RE: 2022 Debt Study (the “Study”) Dear Lori: Northland has completed a study of the City’s existing debt outstanding and estimated sources of revenue for repayment. This study was completed at the direction of the City. The City uses the issuance of debt as an important and essential tool for financing the construction of public improvements and to acquire capital equipment. Ongoing debt management is important to monitor the repayment of existing debt obligations and to be well prepared for the future issuance of debt. The Study is intended to serve as a guide for the City’s financial management of its debt obligations. All debt obligations identified by the City are included in the Study. The Study is built around identified key assumptions, including assumptions for future revenue sources. This includes estimates for the payment of outstanding special assessments. To the extent the assumptions in the Study change in the months and years ahead, which they will, the City will need to continue to adjust its financial and budget plans accordingly. The steps taken as part of the study process included the City providing information to Northland on past financial information, including cash balances and verification of current source of funds for debt payment. Information provided by the City was organized, analyzed, and used to support the development of financial plans for each series of debt outstanding by purpose. The Study included reconciliation to the City’s most recent audited financial statements by Northland. The Study did not include a review of the utility funds to verify rates are set at a level to meet existing outstanding debt obligations. Sincerely, NORTHLAND SECURITIES Tammy Omdal Managing Director TABLE OF CONTENTS TABLE OF CONTENTS Page Number Letter of Transmittal Table of Contents Projected Outstanding Debt Balances for Existing and Planned Debt by Series and Purpose 1 Summary of Projected Debt Outstanding (Including Existing and Planned Debt) Total Payments and Total Revenue Sources 2 Summary of Projected Debt Outstanding for Existing and Planned Debt by Series and Portion 3 Summary of Projected Tax Levy for Debt Service 5 Charts of Data Chart 1 – Tax Levy for Debt Service 7 Chart 2 – Debt Outstanding at Year End 8 Chart 3 – Source of Revenue for Payment on Debt Outstanding 9 Chart 4 – Amortization of Debt Outstanding 10 Chart 5 – Debt Service Paid from Water Revenues 11 Chart 6 – Debt Service Paid from Sanitary Sewer Revenues 12 Chart 7 – Debt Service Paid from Special Assessment Revenues 13 Chart 8 – Debt Service Paid from Sales Tax Revenue 14 Chart 9 – Debt Service Paid from All Other Revenue Sources 15 Financial Plans by Bond Series and Purpose G.O. Wastewater Treatment Bonds, Series 2010 16 G.O. Improvement Bonds, Series 2010B - New Money Portion 17 G.O. Sewer Revenue Bonds, Series 2013B 18 G.O. Bonds, Series 2015A - Improvement Portion 19 TABLE OF CONTENTS Page Number G.O. Capital Improvement Plan Bonds, Series 2016A 20 G.O. Improvement Bonds, Series 2016B 21 Allocation of St. Cloud PFA Loan, 2016 22 G.O. Bonds, Series 2017B - Improvement Portion 23 G.O. Bonds, Series 2017B - System Portion 24 City Portion of St. Cloud 2017 Public Facilities Authority Loan 25 G.O. Bonds, Series 2018A - Equipment Certificates 26 G.O. Improvement Bonds, Series 2019A - City Improvement Portion 27 G.O. Improvement Bonds, Series 2019A - Industrial Park Improvement Portion 28 G.O. Equipment Certificates of Indebtedness, Series 2020A 29 G.O. Bonds, Series 2020B (Improvement Portion) 30 G.O. Bonds, Series 2020B (CIP Portion) 31 G.O. Bonds, Series 2020B (Refund 2013A Bonds, Sewer Portion) 32 G.O. Bonds, Series 2020B (Refund 2013A Bonds, Improvement Portion) 33 Taxable G.O. Crossover Refunding Bonds, Series 2020C (Improvement Portion) 34 Taxable G.O. Crossover Refunding Bonds, Series 2020C (Utility Portion) 35 G.O. Bonds, Series 2021A (Street Improvements Portion) 36 G.O. Bonds, Series 2021A (Refunding Portion) 37 PRELIMINARY G.O. Bonds, Series 2022A (Abatement Portion) 38 PRELIMINARY G.O. Bonds, Series 2022A (Equipment Portion) 39 PRELIMINARY G.O. Bonds, Series 2022A (Improvement Portion) 40 City of St. Joseph, MN Bond Series G.O. Bonds G.O. Improvement Bonds (Special Assessment) G.O. Tax Abatement Bonds G.O. Revenue Bonds Notes Payable (Bonds Issued by City of St. Cloud) Total Projected Bonds Outstanding as of 12/31/22 G.O. Wastewater Treatment Bonds, Series 2010 ----2,059,071 2,059,071 G.O. Improvement Bonds, Series 2010B - New Money Portion -185,000 ---185,000 G.O. Sewer Revenue Bonds, Series 2013B --- 350,000 -350,000 G.O. Bonds, Series 2015A - Improvement Portion -185,000 ---185,000 G.O. Capital Improvement Plan Bonds, Series 2016A 3,170,000 ---- 3,170,000 G.O. Improvement Bonds, Series 2016B -490,000 ---490,000 Allocation of St. Cloud PFA Loan 2016 --- 206,283 -206,283 G.O. Bonds, Series 2017B - Improvement Portion -170,000 ---170,000 G.O. Bonds, Series 2017B - System Portion ------ City portion of St. Cloud Public 2017 Facilities Authority (PFA) Loan --- 1,374,321 - 1,374,321 G.O. Bonds, Series 2018A - Equipment Certificates 56,000 ----56,000 G.O. Improvement Bonds, Series 2019A - City Improvement Portion -1,070,000 --- 1,070,000 G.O. Improvement Bonds, Series 2019A - Industrial Park Improvement Portion -1,510,000 --- 1,510,000 G.O. Equipment Certificates of Indebtedness, Series 2020A 134,000 ----134,000 G.O. Bonds, Series 2020B (Improvement Portion)-560,000 ---560,000 G.O. Bonds, Series 2020B (CIP Portion)630,000 ----630,000 G.O. Bonds, Series 2020B (Refund 2013A Bonds, Sewer Portion)--- 800,000 -800,000 G.O. Bonds, Series 2020B (Refund 2013A Bonds, Improvement Portion)-100,000 ---100,000 Taxable G.O. Crossover Refunding Bonds, Series 2020C (Improvement Portion)-1,220,000 --- 1,220,000 Taxable G.O. Crossover Refunding Bonds, Series 2020C (Utility Portion)--- 405,000 -405,000 G.O. Bonds, Series 2021A (Street Improvements Portion)-2,930,000 --- 2,930,000 G.O. Bonds, Series 2021A (Refunding Portion)--- 1,755,000 - 1,755,000 PRELIMINARY G.O. Bonds, Series 2022A (Abatement Portion)-- 6,125,000 -- 6,125,000 PRELIMINARY G.O. Bonds, Series 2022A (Equipment Portion)715,000 ----715,000 PRELIMINARY G.O. Bonds, Series 2022A (Improvement Portion)-670,000 ---670,000 Total 4,705,000 9,090,000 6,125,000 4,890,604 2,059,071 26,869,674 % of Total 17.5%33.8% 22.8% 18.2%7.7% 100.0% Projected Outstanding Debt Balances for Existing and Planned Debt by Series and Purpose, as of 12/31/2022 August 1, 2022 Page 1 City of St. Joseph, MN Summary of Projected: Debt Outstanding (Including Existing and Planned Debt) Total Payments and Total Revenue Sources, as of 12/31/2021 YEAR Fiscal Principal Interest Total P&I Subject to Tax Levy 105% of Levy Less: Special Assessmen ts Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenue Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2022 2,522,951 632,193 3,155,144 26,869,674 3,155,144 3,312,901 505,262 687,682 680,416 30,680 5,000 10,027 558,465 857,500 3,335,032 1,231,346 2023 2,826,538 835,481 3,662,019 24,043,136 3,662,019 3,845,120 528,447 688,370 610,991 30,680 475,000 11,713 38,400 1,078,398 3,462,000 1,031,327 2024 2,872,003 681,829 3,553,833 21,171,133 3,553,833 3,731,524 497,290 682,718 618,291 30,680 470,000 9,525 38,400 1,143,541 3,490,445 967,939 2025 2,878,037 603,931 3,481,967 18,293,097 3,481,967 3,656,066 477,427 686,162 618,228 30,680 470,000 8,598 38,400 1,135,125 3,464,619 950,591 2026 2,283,842 519,979 2,803,821 16,009,255 2,803,821 2,944,012 448,143 686,937 134,283 17,430 470,000 8,430 38,400 1,038,560 2,842,182 988,953 2027 2,261,975 456,886 2,718,861 13,747,280 2,718,861 2,854,804 429,066 626,856 151,556 17,430 470,000 8,566 38,400 1,049,654 2,791,528 1,061,620 2028 2,248,648 392,553 2,641,201 11,498,632 2,641,201 2,773,261 403,943 632,739 152,333 17,430 470,000 9,079 38,400 995,749 2,719,672 1,140,091 2029 2,029,217 331,372 2,360,589 9,469,415 2,360,589 2,478,618 376,491 480,612 42,587 17,430 470,000 7,203 38,400 977,844 2,410,567 1,190,069 2030 1,635,003 276,006 1,911,009 7,834,412 1,911,009 2,006,559 79,045 421,818 41,978 17,430 465,000 4,600 38,400 883,938 1,952,208 1,231,269 2031 1,222,498 239,610 1,462,108 6,611,914 1,462,108 1,535,213 70,909 129,549 46,556 17,430 465,000 4,213 38,400 719,388 1,491,445 1,260,605 2032 963,542 209,057 1,172,599 5,648,372 1,172,599 1,231,229 65,379 129,582 45,658 17,430 465,000 4,052 38,400 427,000 1,192,501 1,280,508 2033 824,586 184,288 1,008,874 4,823,786 1,008,874 1,059,318 20,757 124,603 2,510 17,430 460,000 3,075 38,400 361,000 1,027,775 1,299,408 2034 785,630 162,515 948,145 4,038,156 948,145 995,552 20,201 124,611 2,510 17,430 460,000 2,678 38,400 325,000 990,830 1,342,094 2035 801,674 141,035 942,709 3,236,482 942,709 989,844 19,645 124,608 2,510 17,430 460,000 2,671 38,400 335,000 1,000,264 1,399,650 2036 817,718 118,282 936,000 2,418,764 936,000 982,800 19,089 124,592 2,510 17,430 460,000 2,813 38,400 340,000 1,004,834 1,468,483 2037 448,764 94,631 543,395 1,970,000 543,395 570,564 0 104,837 0 0 460,000 2,968 38,400 0 606,204 1,531,293 2038 365,000 80,075 445,075 1,605,000 445,075 467,329 0 0 0 0 460,000 3,162 38,400 0 501,562 1,587,780 2039 375,000 65,658 440,658 1,230,000 440,658 462,690 0 0 0 0 460,000 3,343 38,400 0 501,743 1,648,865 2040 395,000 50,658 445,658 835,000 445,658 467,940 0 0 0 0 460,000 3,569 38,400 0 501,969 1,705,177 2041 410,000 34,660 444,660 425,000 444,660 466,893 0 0 0 0 460,000 3,749 38,400 0 502,149 1,762,666 2042 425,000 17,850 442,850 0 442,850 464,993 0 0 0 0 460,000 3,939 38,400 0 502,339 1,822,155 29,392,625 6,128,547 35,521,172 35,521,172 37,297,231 3,961,092 6,456,276 3,152,915 314,450 9,295,000 117,974 1,326,465 11,667,696 36,291,869 DEBT SERVICE PAYMENTS Outstanding Debt SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 2 City of St. Joseph, MN Summary of Projected Debt Outstanding for Existing and Planned Debt by Series and Portion, as of 12/31/2021 Collection Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 G.O. Wastewater Treatment Bonds, Series 2010 2,296,726 2,059,071 1,817,126 1,571,117 1,320,592 1,065,663 806,219 542,146 273,444 - G.O. Improvement Bonds, Series 2010B - New Money Portion 240,000 185,000 125,000 65,000 ------ G.O. Sewer Revenue Bonds, Series 2013B 395,000 350,000 305,000 260,000 210,000 160,000 110,000 55,000 -- G.O. Bonds, Series 2015A - Improvement Portion 245,000 185,000 125,000 65,000 ------ G.O. Capital Improvement Plan Bonds, Series 2016A 3,365,000 3,170,000 2,975,000 2,775,000 2,570,000 2,360,000 2,145,000 1,930,000 1,710,000 1,485,000 G.O. Improvement Bonds, Series 2016B 540,000 490,000 440,000 390,000 340,000 290,000 240,000 190,000 140,000 90,000 Allocation of St. Cloud PFA Loan 2016 256,641 206,283 155,463 104,181 52,322 ----- G.O. Bonds, Series 2017B - Improvement Portion 204,000 170,000 136,000 102,000 68,000 34,000 ---- G.O. Bonds, Series 2017B - System Portion 70,000 --------- City portion of St. Cloud Public 2017 Facilities Authority (PFA) Loan 1,458,259 1,374,321 1,289,548 1,203,836 1,117,184 1,029,592 941,061 851,486 760,971 669,412 G.O. Bonds, Series 2018A - Equipment Certificates 110,000 56,000 -------- G.O. Improvement Bonds, Series 2019A - City Improvement Portion 1,225,000 1,070,000 915,000 760,000 605,000 450,000 300,000 150,000 -- G.O. Improvement Bonds, Series 2019A - Industrial Park Improvement Portion 1,730,000 1,510,000 1,290,000 1,075,000 860,000 645,000 430,000 215,000 -- G.O. Equipment Certificates of Indebtedness, Series 2020A 177,000 134,000 90,000 45,000 ------ G.O. Bonds, Series 2020B (Improvement Portion)625,000 560,000 495,000 430,000 365,000 300,000 240,000 180,000 120,000 60,000 G.O. Bonds, Series 2020B (CIP Portion)690,000 630,000 570,000 510,000 450,000 390,000 330,000 275,000 220,000 165,000 G.O. Bonds, Series 2020B (Refund 2013A Bonds, Sewer Portion)925,000 800,000 670,000 540,000 410,000 275,000 140,000 --- G.O. Bonds, Series 2020B (Refund 2013A Bonds, Improvement Portion)145,000 100,000 50,000 ------- Taxable G.O. Crossover Refunding Bonds, Series 2020C (Improvement Portion)1,365,000 1,220,000 1,070,000 925,000 775,000 625,000 470,000 315,000 160,000 - Taxable G.O. Crossover Refunding Bonds, Series 2020C (Utility Portion)445,000 405,000 365,000 325,000 285,000 250,000 210,000 170,000 130,000 90,000 G.O. Bonds, Series 2021A (Street Improvements Portion)3,190,000 2,930,000 2,670,000 2,410,000 2,150,000 1,895,000 1,640,000 1,385,000 1,130,000 875,000 G.O. Bonds, Series 2021A (Refunding Portion)2,185,000 1,755,000 1,285,000 790,000 275,000 195,000 100,000 --- PRELIMINARY G.O. Bonds, Series 2022A (Abatement Portion)- 6,125,000 5,955,000 5,720,000 5,480,000 5,235,000 4,980,000 4,720,000 4,455,000 4,180,000 PRELIMINARY G.O. Bonds, Series 2022A (Equipment Portion)- 715,000 650,000 575,000 500,000 420,000 340,000 260,000 175,000 90,000 PRELIMINARY G.O. Bonds, Series 2022A (Improvement Portion)- 670,000 600,000 530,000 460,000 390,000 325,000 260,000 195,000 130,000 Total 21,882,625 26,869,674 24,043,136 21,171,133 18,293,097 16,009,255 13,747,280 11,498,632 9,469,415 7,834,412 August 1, 2022 Page 3 City of St. Joseph, MN Summary of Projected Debt Outstanding for Existing and Planned Debt by Series and Portion, as of 12/31/2021 Collection Year G.O. Wastewater Treatment Bonds, Series 2010 G.O. Improvement Bonds, Series 2010B - New Money Portion G.O. Sewer Revenue Bonds, Series 2013B G.O. Bonds, Series 2015A - Improvement Portion G.O. Capital Improvement Plan Bonds, Series 2016A G.O. Improvement Bonds, Series 2016B Allocation of St. Cloud PFA Loan 2016 G.O. Bonds, Series 2017B - Improvement Portion G.O. Bonds, Series 2017B - System Portion City portion of St. Cloud Public 2017 Facilities Authority (PFA) Loan G.O. Bonds, Series 2018A - Equipment Certificates G.O. Improvement Bonds, Series 2019A - City Improvement Portion G.O. Improvement Bonds, Series 2019A - Industrial Park Improvement Portion G.O. Equipment Certificates of Indebtedness, Series 2020A G.O. Bonds, Series 2020B (Improvement Portion) G.O. Bonds, Series 2020B (CIP Portion) G.O. Bonds, Series 2020B (Refund 2013A Bonds, Sewer Portion) G.O. Bonds, Series 2020B (Refund 2013A Bonds, Improvement Portion) Taxable G.O. Crossover Refunding Bonds, Series 2020C (Improvement Portion) Taxable G.O. Crossover Refunding Bonds, Series 2020C (Utility Portion) G.O. Bonds, Series 2021A (Street Improvements Portion) G.O. Bonds, Series 2021A (Refunding Portion) PRELIMINARY G.O. Bonds, Series 2022A (Abatement Portion) PRELIMINARY G.O. Bonds, Series 2022A (Equipment Portion) PRELIMINARY G.O. Bonds, Series 2022A (Improvement Portion) Total 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 ------- - - - - - ------- - - - - - ------- - - - - - ------- - - - - - 1,255,000 1,015,000 770,000 520,000 265,000 -- - - - - - 45,000 ------ - - - - - ------- - - - - - ------- - - - - - ------- - - - - - 576,914 483,372 388,786 293,156 196,482 98,764 - - - - - - ------- - - - - - ------- - - - - - ------- - - - - - ------- - - - - - ------- - - - - - 110,000 55,000 ----- - - - - - ------- - - - - - ------- - - - - - ------- - - - - - 45,000 ------ - - - - - 620,000 495,000 370,000 245,000 120,000 -- - - - - - ------- - - - - - 3,895,000 3,600,000 3,295,000 2,980,000 2,655,000 2,320,000 1,970,000 1,605,000 1,230,000 835,000 425,000 - ------- - - - - - 65,000 ------ - - - - - 6,611,914 5,648,372 4,823,786 4,038,156 3,236,482 2,418,764 1,970,000 1,605,000 1,230,000 835,000 425,000 0 August 1, 2022 Page 4 City of St. Joseph, MN Summary of Projected Tax Levy for Debt Service for Existing and Planned Debt Collection Year 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 G.O. Wastewater Treatment Bonds, Series 2010 - - - - - -- - - - G.O. Improvement Bonds, Series 2010B - New Money Portion 12,000 15,000 15,000 12,200 - -- - - - G.O. Sewer Revenue Bonds, Series 2013B - - - - - -- - - - G.O. Bonds, Series 2015A - Improvement Portion 28,000 35,000 36,000 40,000 - -- - - - G.O. Capital Improvement Plan Bonds, Series 2016A 255,000 150,000 200,000 225,000 250,000 275,000 275,000 275,000 275,000 275,000 G.O. Improvement Bonds, Series 2016B 1,000 5,000 5,000 5,000 5,000 5,000 5,000 6,000 6,000 10,000 Allocation of St. Cloud PFA Loan 2016 - - - - - -- - - - G.O. Bonds, Series 2017B - Improvement Portion 20,000 25,000 25,000 30,000 30,000 30,000 - - - - G.O. Bonds, Series 2017B - System Portion - - - - - -- - - - City portion of St. Cloud Public 2017 Facilities Authority (PFA) Loan - - - - - -- - - - G.O. Bonds, Series 2018A - Equipment Certificates 56,500 55,500 - - - -- - - - G.O. Improvement Bonds, Series 2019A - City Improvement Portion 130,000 125,000 125,000 120,000 100,000 100,000 80,000 75,000 - - G.O. Improvement Bonds, Series 2019A - Industrial Park Improvement Portion - - - - - -- - - - G.O. Equipment Certificates of Indebtedness, Series 2020A 45,000 45,000 45,000 45,000 - -- - - - G.O. Bonds, Series 2020B (Improvement Portion)65,000 50,000 50,000 60,000 65,000 65,000 65,000 60,000 55,000 55,000 G.O. Bonds, Series 2020B (CIP Portion)58,000 65,000 70,000 70,000 70,000 70,000 70,000 70,000 65,000 55,000 G.O. Bonds, Series 2020B (Refund 2013A Bonds, Sewer Portion)- - - - - -- - - - G.O. Bonds, Series 2020B (Refund 2013A Bonds, Improvement Portion)30,000 35,000 40,500 - - -- - - - Taxable G.O. Crossover Refunding Bonds, Series 2020C (Improvement Portion) 117,000 120,000 130,000 135,000 140,000 140,000 145,000 150,000 150,000 - Taxable G.O. Crossover Refunding Bonds, Series 2020C (Utility Portion)- - - - - -- - - - G.O. Bonds, Series 2021A (Street Improvements Portion)40,000 229,898 284,041 274,925 260,560 251,654 242,749 233,844 224,938 221,388 G.O. Bonds, Series 2021A (Refunding Portion)- - - - - -- - - - PRELIMINARY G.O. Bonds, Series 2022A (Abatement Portion)- - - - - -- - - - PRELIMINARY G.O. Bonds, Series 2022A (Equipment Portion)- 58,000 58,000 58,000 58,000 58,000 58,000 58,000 58,000 58,000 PRELIMINARY G.O. Bonds, Series 2022A (Improvement Portion)- 65,000 60,000 60,000 60,000 55,000 55,000 50,000 50,000 45,000 Total 857,500 1,078,398 1,143,541 1,135,125 1,038,560 1,049,654 995,749 977,844 883,938 719,388 August 1, 2022 Page 5 City of St. Joseph, MN Summary of Projected Tax Levy for Debt Service for Existing and Planned Debt Collection Year G.O. Wastewater Treatment Bonds, Series 2010 G.O. Improvement Bonds, Series 2010B - New Money Portion G.O. Sewer Revenue Bonds, Series 2013B G.O. Bonds, Series 2015A - Improvement Portion G.O. Capital Improvement Plan Bonds, Series 2016A G.O. Improvement Bonds, Series 2016B Allocation of St. Cloud PFA Loan 2016 G.O. Bonds, Series 2017B - Improvement Portion G.O. Bonds, Series 2017B - System Portion City portion of St. Cloud Public 2017 Facilities Authority (PFA) Loan G.O. Bonds, Series 2018A - Equipment Certificates G.O. Improvement Bonds, Series 2019A - City Improvement Portion G.O. Improvement Bonds, Series 2019A - Industrial Park Improvement Portion G.O. Equipment Certificates of Indebtedness, Series 2020A G.O. Bonds, Series 2020B (Improvement Portion) G.O. Bonds, Series 2020B (CIP Portion) G.O. Bonds, Series 2020B (Refund 2013A Bonds, Sewer Portion) G.O. Bonds, Series 2020B (Refund 2013A Bonds, Improvement Portion) Taxable G.O. Crossover Refunding Bonds, Series 2020C (Improvement Portion) Taxable G.O. Crossover Refunding Bonds, Series 2020C (Utility Portion) G.O. Bonds, Series 2021A (Street Improvements Portion) G.O. Bonds, Series 2021A (Refunding Portion) PRELIMINARY G.O. Bonds, Series 2022A (Abatement Portion) PRELIMINARY G.O. Bonds, Series 2022A (Equipment Portion) PRELIMINARY G.O. Bonds, Series 2022A (Improvement Portion) Total 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 265,000 265,000 265,000 265,000 270,000 - - - - - - 17,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 50,000 46,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 50,000 50,000 60,000 70,000 70,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 45,000 - - - - - - - - - - 427,000 361,000 325,000 335,000 340,000 0 0 0 0 0 0 August 1, 2022 Page 6 City of St. Joseph, MN $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 Chart 1 Tax Levy for Debt Service Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 7 City of St. Joseph, MN $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Chart 2 Total Debt Outstanding at Year-End Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 8 City of St. Joseph, MN Special Assessments 11% Sanitary Sewer Revenue 18% Water Revenue 9% Sales Tax Revenue 25% All Other Revenue 5% Tax Levy 32% Chart 3 Source of Revenue for Payment on Total Debt Outstanding Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 9 City of St. Joseph, MN 18 % 28 % 38 % 46 % 53 % 61 % 68 % 73 % 78 % 81 % 84 % 86 % 89 % 92 % 93 % 95 % 96 % 97 % 99 % 10 0 % 0% 20% 40% 60% 80% 100% 120% 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Pe r c e n t o f O u t s t a n d i n g D e b t A m o r t i z e d Number of Years Chart 4 Amortization of Outstanding Debt Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 10 City of St. Joseph, MN $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Chart 5 Debt Service Paid by Water Revenue Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 11 City of St. Joseph, MN $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Chart 6 Debt Service Paid by Sanitary Sewer Revenue Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 12 City of St. Joseph, MN $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Chart 7 Debt Service Paid by Special Assessments Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 13 City of St. Joseph, MN $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Chart 8 Debt Service Paid by Sales Tax Revenue Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 14 City of St. Joseph, MN $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Chart 9 Debt Service Paid by All Other Revenue Storm Water, Interest Income, and Other Sources Projected Debt Outstanding Including Existing and 2022 New Debt August 1, 2022 Page 15 City of St. Joseph, MN Purpose:G.O. Wastewater Treatment Bonds, Series 2010 Finance the City's portion of the City of St. Cloud RUE Project PFA Loan (11.29%). City Fund:602 Dated:08/01/10 Original Amount:$4,527,703 Mature: Outstanding:$2,296,726 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenue Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 1.771% -------------- 2022 237,655 1.771% 40,675 278,330 278,330 292,247 - 292,247 ------ 292,247 27,831 2023 241,945 1.771% 36,466 278,411 278,411 292,332 - 292,332 ------ 292,332 41,752 2024 246,009 1.771% 32,181 278,190 278,190 292,100 - 292,100 ------ 292,100 55,661 2025 250,525 1.771% 27,824 278,350 278,350 292,267 - 292,267 ------ 292,267 69,579 2026 254,928 1.771% 23,388 278,316 278,316 292,232 - 292,232 ------ 292,232 83,494 2027 259,444 1.771% 18,873 278,317 278,317 292,233 - 292,233 ------ 292,233 97,410 2028 264,073 1.771% 14,278 278,351 278,351 292,269 - 292,269 ------ 292,269 111,328 2029 268,702 1.771% 9,601 278,303 278,303 292,219 - 292,219 ------ 292,219 125,243 2030 273,444 1.771% 4,843 278,287 278,287 292,201 - 292,201 ------ 292,201 139,157 2031 ------------- 139,157 2032 ------------- 139,157 2033 ------------- 139,157 2034 ------------- 139,157 2035 ------------- 139,157 2036 ------------- 139,157 2037 ------------- 139,157 2038 ------------- 139,157 2039 ------------- 139,157 2040 ------------- 139,157 2041 ------------- 139,157 2042 ------------- 139,157 Total 2,296,726 208,130 2,504,855 2,504,855 2,630,098 - 2,630,098 ------ 2,630,098 NOTES 1 Bonds are payable from net revenues from the Sanitary Sewer Fund and additionally secured by an unlimited ad valorem tax pledge. 2 The Bonds are reported as a liability of the Sewer Fund. 3 Pledge net revenues sufficienct to pay 105% of debt service. SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 20 Any Date August 20, 2030 DEBT SERVICE PAYMENTS August 1, 2022 Page 16 City of St. Joseph, MN Purpose:G.O. Improvement Bonds, Series 2010B - New Money Portion Finance the 16th Avenue improvement project. City Fund:345 Dated:09/01/10 Original Amount:$790,000 Mature: Outstanding:$240,000 Call:December 1, 2018 Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenue Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.900% ------------- 94,154 2022 55,000 2.900% 7,398 62,398 62,398 65,517 8,506 -- 13,250 -942 - 12,000 34,698 66,454 2023 60,000 2.900% 5,803 65,803 65,803 69,093 7,975 -- 13,250 -665 - 15,000 36,889 37,541 2024 60,000 3.250% 4,063 64,063 64,063 67,266 7,089 -- 13,250 -375 - 15,000 35,714 9,192 2025 65,000 3.250% 2,113 67,113 67,113 70,468 5,316 -- 13,250 -92 - 12,200 30,858 (27,062) 2026 ------------- (27,062) 2027 ------------- (27,062) 2028 ------------- (27,062) 2029 ------------- (27,062) 2030 ------------- (27,062) 2031 ------------- (27,062) 2032 ------------- (27,062) 2033 ------------- (27,062) 2034 ------------- (27,062) 2035 ------------- (27,062) 2036 ------------- (27,062) 2037 ------------- (27,062) 2038 ------------- (27,062) 2039 ------------- (27,062) 2040 ------------- (27,062) 2041 ------------- (27,062) 2042 ------------- (27,062) Total 240,000 19,375 259,375 259,375 272,344 28,886 -- 53,000 - 2,073 - 54,200 138,159 NOTES 1 Debt service schedule is the "New Money" portion of the 2010B Bonds only and secured by special assessments and ad valorem property tax. 2 Special assessment principal outstanding as of 12/31/2021:$48,695 December 1 December 1, 2025 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 17 City of St. Joseph, MN Purpose:G.O. Sewer Revenue Bonds, Series 2013B Finance the City's portion of the interceptor repairs (SIS Phase IV) for the St. Cloud Wastewater Treatment Facility. City Fund:602 Dated:11/01/13 Original Amount:$650,000 Mature: Outstanding:$395,000 Call:February 1, 2022 Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenue Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 4.000% -------------- 2022 45,000 4.000% 12,850 57,850 57,850 60,743 - 60,743 ------ 60,743 2,893 2023 45,000 4.000% 11,050 56,050 56,050 58,853 - 58,853 ------ 58,853 5,695 2024 45,000 3.000% 9,475 54,475 54,475 57,199 - 57,199 ------ 57,199 8,419 2025 50,000 3.000% 8,050 58,050 58,050 60,953 - 60,953 ------ 60,953 11,321 2026 50,000 3.250% 6,488 56,488 56,488 59,312 - 59,312 ------ 59,312 14,146 2027 50,000 3.375% 4,831 54,831 54,831 57,573 - 57,573 ------ 57,573 16,887 2028 55,000 3.500% 3,025 58,025 58,025 60,926 - 60,926 ------ 60,926 19,788 2029 55,000 3.750% 1,031 56,031 56,031 58,833 - 58,833 ------ 58,833 22,590 2030 ------------- 22,590 2031 ------------- 22,590 2032 ------------- 22,590 2033 ------------- 22,590 2034 ------------- 22,590 2035 ------------- 22,590 2036 ------------- 22,590 2037 ------------- 22,590 2038 ------------- 22,590 2039 ------------- 22,590 2040 ------------- 22,590 2041 ------------- 22,590 2042 ------------- 22,590 Total 395,000 56,800 451,800 451,800 474,390 - 474,390 ------ 474,390 NOTES 1 Bonds are payable from net revenues from the Saniatary Sewer Fund and secured by an unlimited ad valorem tax pledge. 2 The Bonds are reported as a liability of the Sanitary Sewer Fund. February 1 February 1, 2029 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 18 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2015A - Improvement Portion Finance the Clinton Village, Northland and Jasmine Lane improvement projects. City Fund:351 Dated:08/01/15 Original Amount:$595,000 Mature: Outstanding:$245,000 Call:December 1, 2022 Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenue Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.000% ------------- 84,770 2022 60,000 2.000% 6,750 66,750 66,750 70,088 11,384 ----848 - 28,000 40,231 58,251 2023 60,000 3.000% 5,550 65,550 65,550 68,828 10,672 ----583 - 35,000 46,255 38,956 2024 60,000 3.000% 3,750 63,750 63,750 66,938 9,486 ----390 - 36,000 45,876 21,082 2025 65,000 3.000% 1,950 66,950 66,950 70,298 7,115 ----211 - 40,000 47,326 1,457 2026 ------------- 1,457 2027 ------------- 1,457 2028 ------------- 1,457 2029 ------------- 1,457 2030 ------------- 1,457 2031 ------------- 1,457 2032 ------------- 1,457 2033 ------------- 1,457 2034 ------------- 1,457 2035 ------------- 1,457 2036 ------------- 1,457 2037 ------------- 1,457 2038 ------------- 1,457 2039 ------------- 1,457 2040 ------------- 1,457 2041 ------------- 1,457 2042 ------------- 1,457 Total 245,000 18,000 263,000 263,000 276,150 38,657 ---- 2,031 - 139,000 179,687 NOTES 1 Debt service schedule is the "Improvement Portion" of the 2015A Bonds only and secured by special assessments and ad valorem property tax. 2 Special assessment principal outstanding as of 12/31/2021:$65,167 Note: $18,591.72 scheduled to be received in 2022 (P & i) 3 Cash balance was accumulated from prepayment of special assessments and deposit of unspent project contingency into the debt service fund. December 1 December 1, 2025 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 19 City of St. Joseph, MN Purpose:G.O. Capital Improvement Plan Bonds, Series 2016A Finance the Government Service Center. City Fund:301 Dated:07/01/16 Original Amount:$4,275,000 Mature: Outstanding:$3,365,000 Call: Final Maturity:December 15, 2036 Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.000% ------------- 29,555 2022 195,000 2.000% 78,543 273,543 273,543 287,220 -----296 253,420 255,000 508,716 264,728 2023 195,000 2.000% 74,643 269,643 269,643 283,125 ----- 2,647 - 150,000 152,647 147,733 2024 200,000 2.000% 70,743 270,743 270,743 284,280 ----- 1,477 - 200,000 201,477 78,468 2025 205,000 2.000% 66,743 271,743 271,743 285,330 -----785 - 225,000 225,785 32,510 2026 210,000 2.000% 62,643 272,643 272,643 286,275 -----325 - 250,000 250,325 10,192 2027 215,000 2.000% 58,443 273,443 273,443 287,115 -----102 - 275,000 275,102 11,852 2028 215,000 2.000% 54,143 269,143 269,143 282,600 -----119 - 275,000 275,119 17,828 2029 220,000 2.250% 49,843 269,843 269,843 283,335 -----178 - 275,000 275,178 23,164 2030 225,000 2.250% 44,893 269,893 269,893 283,387 -----232 - 275,000 275,232 28,503 2031 230,000 2.450% 39,830 269,830 269,830 283,322 -----285 - 275,000 275,285 33,958 2032 240,000 2.450% 34,195 274,195 274,195 287,905 -----340 - 265,000 265,340 25,102 2033 245,000 2.700% 28,315 273,315 273,315 286,981 -----251 - 265,000 265,251 17,038 2034 250,000 2.700% 21,700 271,700 271,700 285,285 -----170 - 265,000 265,170 10,509 2035 255,000 2.875% 14,950 269,950 269,950 283,448 -----105 - 265,000 265,105 5,664 2036 265,000 2.875% 7,619 272,619 272,619 286,250 -----57 - 270,000 270,057 3,102 2037 ------------- 3,102 2038 ------------- 3,102 2039 ------------- 3,102 2040 ------------- 3,102 2041 ------------- 3,102 2042 ------------- 3,102 Total 3,365,000 707,241 4,072,241 4,072,241 4,275,853 ----- 7,368 253,420 3,785,000 4,045,788 NOTES 1 No outstanding items to note. 2 3 "Other Revenues" Residual funds from early defeased 2017 bonds, fund 303, and a portion of the early defeased 2015 abatement bonds, fund 353 Tax levy is adjusted in this schedule to help manage the City's overall tax levy for debt while maintaining that Fund 301 is projected to have annual revenue and ending cash at or above the minimum 105% requirement. The tax levy for this Fund 301 may be adjusted annually as needed to achieve the 105% requirement and the City's overall objectives for tax levy. December 15 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15, 2023 August 1, 2022 Page 20 City of St. Joseph, MN Purpose:G.O. Improvement Bonds, Series 2016B Finance the Field Street improvement project and CR 121 to 7th Ave SE City Fund:304 Dated:11/01/16 Original Amount:$740,000 Mature: Outstanding:$540,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 1.150% ------------- 244,141 2022 50,000 1.350% 11,700 61,700 61,700 64,785 21,513 --- 5,000 2,441 - 1,000 29,954 212,395 2023 50,000 1.350% 11,025 61,025 61,025 64,076 21,513 --- 5,000 2,124 - 5,000 33,637 185,007 2024 50,000 2.000% 10,350 60,350 60,350 63,368 21,513 --- 5,000 1,850 - 5,000 33,363 158,020 2025 50,000 2.000% 9,350 59,350 59,350 62,318 21,513 --- 5,000 1,580 - 5,000 33,093 131,764 2026 50,000 2.000% 8,350 58,350 58,350 61,268 21,513 --- 5,000 1,318 - 5,000 32,831 106,244 2027 50,000 2.100% 7,350 57,350 57,350 60,218 21,513 --- 5,000 1,062 - 5,000 32,575 81,470 2028 50,000 2.100% 6,300 56,300 56,300 59,115 21,513 --- 5,000 815 - 5,000 32,328 57,497 2029 50,000 2.100% 5,250 55,250 55,250 58,013 21,513 --- 5,000 575 - 6,000 33,088 35,335 2030 50,000 3.000% 4,200 54,200 54,200 56,910 21,513 --- 5,000 353 - 6,000 32,866 14,002 2031 45,000 3.000% 2,700 47,700 47,700 50,085 21,513 --- 5,000 140 - 10,000 36,653 2,955 2032 45,000 3.000% 1,350 46,350 46,350 48,668 21,513 --- 5,000 30 - 17,000 43,543 147 2033 -------------147 2034 -------------147 2035 -------------147 2036 -------------147 2037 -------------147 2038 -------------147 2039 -------------147 2040 -------------147 2041 -------------147 2042 -------------147 Total 540,000 77,925 617,925 617,925 648,821 236,643 --- 55,000 12,288 - 70,000 373,931 NOTES 1 Special assessment principal outstanding as of 12/31/2021, includes deferred special assessments:$581,569 *This balance includes deferred assessments 2 A significant portion of the balance outstanding is for deferred special assessments that may not be payable within the next thirty years. 3 Additional funds from MSAS construction fund for the Field St project in 2019 is allowing for a reduction of future sales tax and levy needs. December 15 December 15, 2032 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15, 2023 August 1, 2022 Page 21 City of St. Joseph, MN Purpose:Allocation of St. Cloud PFA Loan 2016 Sewer improvements, main lift station. St. Joseph's allocated share is 11.55%. City Fund:602 Dated:07/01/16 Original Amount:$469,263 Allocated portion to St. Joseph Mature: Outstanding:$256,641 Call:Any date Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 1.000% -------------- 2022 50,358 1.000% 2,566 52,924 52,924 55,571 - 55,571 ------ 55,571 2,646 2023 50,820 1.000% 2,063 52,883 52,883 55,527 - 55,527 ------ 55,527 5,290 2024 51,282 1.000% 1,555 52,837 52,837 55,478 - 55,478 ------ 55,478 7,932 2025 51,860 1.000% 1,042 52,901 52,901 55,546 - 55,546 ------ 55,546 10,577 2026 52,322 1.000% 523 52,845 52,845 55,487 - 55,487 ------ 55,487 13,219 2027 ------------- 13,219 2028 ------------- 13,219 2029 ------------- 13,219 2030 ------------- 13,219 2031 ------------- 13,219 2032 ------------- 13,219 2033 ------------- 13,219 2034 ------------- 13,219 2035 ------------- 13,219 2036 ------------- 13,219 2037 ------------- 13,219 2038 ------------- 13,219 2039 ------------- 13,219 2040 ------------- 13,219 2041 ------------- 13,219 2042 ------------- 13,219 Total 256,641 7,749 264,390 264,390 277,609 - 277,609 ------ 277,609 NOTES 1 St. Cloud has the loan with the MN PFA. City of St. Joseph pays 11.55% of the debt service. August 1 August 20, 2026 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 22 City of St. Joseph, MN Purpose: Finance the Central Business District (CBD), Phase I, alley project. City Fund:305 Dated:08/30/17 Original Amount:$344,000 Mature: Outstanding:$204,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.250% ------------- 24,874 2022 34,000 2.250% 5,865 39,865 39,865 41,858 8,221 ------ 20,000 28,221 13,230 2023 34,000 3.000% 5,100 39,100 39,100 41,055 7,993 ------ 25,000 32,993 7,123 2024 34,000 3.000% 4,080 38,080 38,080 39,984 7,673 ------ 25,000 32,673 1,716 2025 34,000 3.000% 3,060 37,060 37,060 38,913 7,194 ------ 30,000 37,194 1,850 2026 34,000 3.000% 2,040 36,040 36,040 37,842 6,394 ------ 30,000 36,394 2,204 2027 34,000 3.000% 1,020 35,020 35,020 36,771 4,796 ------ 30,000 34,796 1,980 2028 ------------- 1,980 2029 ------------- 1,980 2030 ------------- 1,980 2031 ------------- 1,980 2032 ------------- 1,980 2033 ------------- 1,980 2034 ------------- 1,980 2035 ------------- 1,980 2036 ------------- 1,980 2037 ------------- 1,980 2038 ------------- 1,980 2039 ------------- 1,980 2040 ------------- 1,980 2041 ------------- 1,980 2042 ------------- 1,980 Total 204,000 21,165 225,165 225,165 236,423 42,271 ------ 160,000 202,271 NOTES 1 Debt service schedule is the "Improvement Portion" of the 2017B Bonds only and secured by special assessments and ad valorem property tax. 2 $25,340 in prepaid assessments were collected and deposited into the construction account at issuance. 3 Special assessment principal outstanding as of 12/31/2021:$43,926 (receivable above reflects estimates for delinquent special assessments) SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS G.O. Bonds, Series 2017B - Improvement Portion December 15 December 15, 2022 December 15, 2027 DEBT SERVICE PAYMENTS August 1, 2022 Page 23 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2017B - System Portion Finance Water Treatment Plant No. 1 improvements. City Fund:601 Dated:09/01/13 Original Amount:$1,875,000 Mature: Outstanding:$70,000 Call:(Final maturity date of the 2017B, Improvement Portion is 12/31/2027, call date provides for the optional redemption for this portion.) Final Maturity:December 15, 2022 Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.250% ------------- 10,000 2022 70,000 2.250% 1,575 71,575 71,575 75,154 -- 70,000 ----- 70,000 8,425 2023 ------------- 8,425 2024 ------------- 8,425 2025 ------------- 8,425 2026 ------------- 8,425 2027 ------------- 8,425 2028 ------------- 8,425 2029 ------------- 8,425 2030 ------------- 8,425 2031 ------------- 8,425 2032 ------------- 8,425 2033 ------------- 8,425 2034 ------------- 8,425 2035 ------------- 8,425 2036 ------------- 8,425 2037 ------------- 8,425 2038 ------------- 8,425 2039 ------------- 8,425 2040 ------------- 8,425 2041 ------------- 8,425 2042 ------------- 8,425 Total 70,000 1,575 71,575 71,575 75,154 -- 70,000 ----- 70,000 NOTES 1 Debt service schedule is the "System Portion" of the 2017B Bonds only are payable from net revenues plus 5% from the Water Treatment Fund and secured by an unlimited ad valorem tax pledge. 2 The Bonds are reported as a liability of the Water Treatment Fund. December 15 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15, 2022 August 1, 2022 Page 24 City of St. Joseph, MN Purpose:City portion of St. Cloud Public 2017 Facilities Authority (PFA) Loan St. Cloud Wastewater PFA Note for a biosolids treatment update (City refers to the project as NR2 - new treatment method) City Fund:602 Dated:10/09/17 Original Amount:$1,744,736 Mature: Outstanding:$1,458,259 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 1.095% -------------- 2022 83,938 1.095% 15,968 99,906 99,906 104,901 - 104,901 ------ 104,901 4,995 2023 84,773 1.095% 15,049 99,822 99,822 104,813 - 104,813 ------ 104,813 9,986 2024 85,712 1.095% 14,121 99,833 99,833 104,825 - 104,825 ------ 104,825 14,978 2025 86,652 1.095% 13,182 99,834 99,834 104,826 - 104,826 ------ 104,826 19,970 2026 87,592 1.095% 12,233 99,825 99,825 104,816 - 104,816 ------ 104,816 24,961 2027 88,531 1.095% 11,274 99,805 99,805 104,795 - 104,795 ------ 104,795 29,951 2028 89,575 1.095% 10,305 99,880 99,880 104,874 - 104,874 ------ 104,874 34,945 2029 90,515 1.095% 9,324 99,839 99,839 104,831 - 104,831 ------ 104,831 39,937 2030 91,559 1.095% 8,333 99,892 99,892 104,887 - 104,887 ------ 104,887 44,932 2031 92,498 1.095% 7,330 99,828 99,828 104,819 - 104,819 ------ 104,819 49,923 2032 93,542 1.095% 6,317 99,859 99,859 104,852 - 104,852 ------ 104,852 54,916 2033 94,586 1.095% 5,293 99,879 99,879 104,873 - 104,873 ------ 104,873 59,910 2034 95,630 1.095% 4,257 99,887 99,887 104,881 - 104,881 ------ 104,881 64,904 2035 96,674 1.095% 3,210 99,884 99,884 104,878 - 104,878 ------ 104,878 69,899 2036 97,718 1.095% 2,151 99,869 99,869 104,862 - 104,862 ------ 104,862 74,892 2037 98,764 1.095% 1,081 99,845 99,845 104,837 - 104,837 ------ 104,837 79,884 2038 ------------- 79,884 2039 ------------- 79,884 2040 ------------- 79,884 2041 ------------- 79,884 2042 ------------- 79,884 Total 1,458,259 139,428 1,597,687 1,597,687 1,677,571 - 1,677,571 ------ 1,677,571 NOTES 1 The City of St. Joseph is responsible for 10.44% of the project costs. 2 3 This schedule of principal needs to be verified after the amortization schedule is finalized with draw completions. The principal shown here is based on the 10/9/2017 PFA loan schedule adjusted for $177,240 in additional principal in 2018, $175,721 in 2019. The $352,961 adjustments are based on the City's reported outstanding balance for the Loan as of 12/31/2019 in the City's audited financial statements. SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 1 Callable at anytime August 20, 2037 DEBT SERVICE PAYMENTS August 1, 2022 Page 25 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2018A - Equipment Certificates Finance equipment acquisition. City Fund:306 Dated:02/28/18 Original Amount:$265,000 Mature: Outstanding:$110,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.500% ------------- 2,606 2022 54,000 2.500% 2,750 56,750 56,750 59,588 -----26 - 56,500 56,526 2,382 2023 56,000 2.500% 1,400 57,400 57,400 60,270 -----24 - 55,500 55,524 506 2024 -------------506 2025 -------------506 2026 -------------506 2027 -------------506 2028 -------------506 2029 -------------506 2030 -------------506 2031 -------------506 2032 -------------506 2033 -------------506 2034 -------------506 2035 -------------506 2036 -------------506 2037 -------------506 2038 -------------506 2039 -------------506 2040 -------------506 2041 -------------506 2042 -------------506 Total 110,000 4,150 114,150 114,150 119,858 -----50 - 112,000 112,050 NOTES 1 December 15 Non-callable DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15, 2023 August 1, 2022 Page 26 City of St. Joseph, MN Purpose:G.O. Improvement Bonds, Series 2019A - City Improvement Portion Finance the 2019 street improvements City Fund:307 Dated:09/12/19 Original Amount:$1,535,000 Mature: Outstanding:$1,225,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 5.000% ------------- 127,324 2022 155,000 5.000% 58,250 213,250 213,250 223,913 75,986 ---- 1,273 - 130,000 207,259 121,333 2023 155,000 5.000% 50,500 205,500 205,500 215,775 74,798 ---- 1,213 - 125,000 201,012 116,845 2024 155,000 5.000% 42,750 197,750 197,750 207,638 73,272 ---- 1,168 - 125,000 199,440 118,535 2025 155,000 5.000% 35,000 190,000 190,000 199,500 71,237 ---- 1,185 - 120,000 192,422 120,957 2026 155,000 5.000% 27,250 182,250 182,250 191,363 68,387 ---- 1,210 - 100,000 169,597 108,303 2027 150,000 5.000% 19,500 169,500 169,500 177,975 64,113 ---- 1,083 - 100,000 165,196 103,999 2028 150,000 4.000% 12,000 162,000 162,000 170,100 56,989 ---- 1,040 - 80,000 138,029 80,029 2029 150,000 4.000% 6,000 156,000 156,000 163,800 42,742 ----800 - 75,000 118,542 42,571 2030 ------------- 42,571 2031 ------------- 42,571 2032 ------------- 42,571 2033 ------------- 42,571 2034 ------------- 42,571 2035 ------------- 42,571 2036 ------------- 42,571 2037 ------------- 42,571 2038 ------------- 42,571 2039 ------------- 42,571 2040 ------------- 42,571 2041 ------------- 42,571 2042 ------------- 42,571 Total 1,225,000 251,250 1,476,250 1,476,250 1,550,063 527,524 ---- 8,973 - 855,000 1,391,497 NOTES 1 Schedule is based on the City reducing the estimated tax levy to be certified, based on projected total special assessment revenue collected for the two purposes for the 2019 bond issuance. 2 Special assessment principal outstanding as of 12/31/2021:391,491$ City received prepaids after bond issue. The tax levy may need to be increased in future years as a result. SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15 December 15, 2027 December 15, 2029 DEBT SERVICE PAYMENTS August 1, 2022 Page 27 City of St. Joseph, MN Purpose:G.O. Improvement Bonds, Series 2019A - Industrial Park Improvement Portion Finance the industrial park improvements City Fund:308 Dated:09/12/19 Original Amount:$2,170,000 Mature: Outstanding:$1,730,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 5.000% -------------44 2022 220,000 5.000% 82,200 302,200 302,200 317,310 328,440 ----0 -- 328,440 26,284 2023 220,000 5.000% 71,200 291,200 291,200 305,760 317,573 ----263 -- 317,835 52,920 2024 215,000 5.000% 60,200 275,200 275,200 288,960 306,705 ----529 -- 307,234 84,954 2025 215,000 5.000% 49,450 264,450 264,450 277,673 295,838 ----850 -- 296,687 117,191 2026 215,000 5.000% 38,700 253,700 253,700 266,385 284,970 ---- 1,172 -- 286,142 149,633 2027 215,000 5.000% 27,950 242,950 242,950 255,098 274,103 ---- 1,496 -- 275,599 182,282 2028 215,000 4.000% 17,200 232,200 232,200 243,810 263,235 ---- 1,823 -- 265,058 215,140 2029 215,000 4.000% 8,600 223,600 223,600 234,780 252,368 ---- 2,151 -- 254,519 246,058 2030 ------------- 246,058 2031 ------------- 246,058 2032 ------------- 246,058 2033 ------------- 246,058 2034 ------------- 246,058 2035 ------------- 246,058 2036 ------------- 246,058 2037 ------------- 246,058 2038 ------------- 246,058 2039 ------------- 246,058 2040 ------------- 246,058 2041 ------------- 246,058 2042 ------------- 246,058 Total 1,730,000 355,500 2,085,500 2,085,500 2,189,775 2,323,230 ---- 8,284 -- 2,331,514 NOTES 1 Schedule is based on the City reducing the estimated tax levy to be certified, based on projected total special assessment revenue collected for the two purposes for the 2019 bond issuance. 2 Special assessment principal outstanding as of 12/31/2021:1,938,536$ Assessments certified 1/6/20 in original amount of $2,415,000 at rate of 1.83% 10 year term. SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15 December 15, 2027 December 15, 2029 DEBT SERVICE PAYMENTS August 1, 2022 Page 28 City of St. Joseph, MN Purpose:G.O. Equipment Certificates of Indebtedness, Series 2020A Finance the purchase of equipement City Fund:309 Dated:03/05/20 Original Amount:$220,000 Mature: Outstanding:$177,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 1.450% ------------- 3,790 2022 43,000 1.450% 2,567 45,567 45,567 47,845 -----38 - 45,000 45,038 3,261 2023 44,000 1.450% 1,943 45,943 45,943 48,240 -----33 - 45,000 45,033 2,351 2024 45,000 1.450% 1,305 46,305 46,305 48,620 -----24 - 45,000 45,024 1,070 2025 45,000 1.450% 653 45,653 45,653 47,935 -----11 - 45,000 45,011 428 2026 -------------428 2027 -------------428 2028 -------------428 2029 -------------428 2030 -------------428 2031 -------------428 2032 -------------428 2033 -------------428 2034 -------------428 2035 -------------428 2036 -------------428 2037 -------------428 2038 -------------428 2039 -------------428 2040 -------------428 2041 -------------428 2042 -------------428 Total 177,000 6,467 183,467 183,467 192,640 -----105 - 180,000 180,105 NOTES 1 Payable from ad valorem taxes. SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15 Non-Callable December 15, 2025 DEBT SERVICE PAYMENTS August 1, 2022 Page 29 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2020B (Improvement Portion) Finance the 20th Ave SE water main and street improvements City Fund:310 Dated:11/12/20 Original Amount:$620,000 Mature: Outstanding:$625,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 -------------- 8,526 2022 65,000 2.000% 11,460 76,460 76,460 80,283 4,444 ----85 50,000 65,000 119,529 51,595 2023 65,000 2.000% 10,160 75,160 75,160 78,918 4,360 ----516 - 50,000 54,876 31,311 2024 65,000 0.400% 8,860 73,860 73,860 77,553 4,303 ----313 - 50,000 54,616 12,067 2025 65,000 2.000% 8,600 73,600 73,600 77,280 4,245 ----121 - 60,000 64,366 2,833 2026 65,000 2.000% 7,300 72,300 72,300 75,915 4,188 ----28 - 65,000 69,216 (251) 2027 60,000 2.000% 6,000 66,000 66,000 69,300 4,130 ----(3) - 65,000 69,127 2,876 2028 60,000 2.000% 4,800 64,800 64,800 68,040 4,072 ----29 - 65,000 69,101 7,177 2029 60,000 2.000% 3,600 63,600 63,600 66,780 4,015 ----72 - 60,000 64,086 7,663 2030 60,000 2.000% 2,400 62,400 62,400 65,520 3,957 ----77 - 55,000 59,034 4,297 2031 60,000 2.000% 1,200 61,200 61,200 64,260 3,899 ----43 - 55,000 58,942 2,039 2032 ------------- 2,039 2033 ------------- 2,039 2034 ------------- 2,039 2035 ------------- 2,039 2036 ------------- 2,039 2037 ------------- 2,039 2038 ------------- 2,039 2039 ------------- 2,039 2040 ------------- 2,039 2041 ------------- 2,039 2042 ------------- 2,039 Total 625,000 64,380 689,380 689,380 723,849 41,613 ---- 1,281 50,000 590,000 682,893 NOTES 1 Special assessment principal outstanding as of 12/31/2021:106,480$ 2 At time of issuance, the City planned to assess a total of $144,897.47 (23% of the Improvement Portion of the Bonds). Special assessment revenue shown above is based on assessments totaling $38,417.47 assessed at a rate of 1.50% (as provided by the City), equal prinicpal payments spread over 10 years. Special assessments in the amount of $106,480 are deferred for up to 30 years or when construction begins or sale of property happens, whichever occurs first. Accrued interest of 1.50% will not start until year 15 or when deferment concludes, whichever occurs first. SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS December 15 December 15, 2028 December 15, 2031 DEBT SERVICE PAYMENTS August 1, 2022 Page 30 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2020B (CIP Portion) Finance public works facility improvements. City Fund:312 Dated:11/12/20 Original Amount:$690,000 Mature: Outstanding:$690,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 -------------- 28,937 2022 60,000 2.000% 12,840 72,840 72,840 76,482 -----289 -58,000 58,289 14,386 2023 60,000 2.000% 11,640 71,640 71,640 75,222 -----144 -65,000 65,144 7,890 2024 60,000 0.400% 10,440 70,440 70,440 73,962 -----79 - 70,000 70,079 7,529 2025 60,000 2.000% 10,200 70,200 70,200 73,710 -----75 - 70,000 70,075 7,404 2026 60,000 2.000% 9,000 69,000 69,000 72,450 -----74 - 70,000 70,074 8,478 2027 60,000 2.000% 7,800 67,800 67,800 71,190 -----85 - 70,000 70,085 10,763 2028 55,000 2.000% 6,600 61,600 61,600 64,680 -----108 - 70,000 70,108 19,271 2029 55,000 2.000% 5,500 60,500 60,500 63,525 -----193 - 70,000 70,193 28,964 2030 55,000 2.000% 4,400 59,400 59,400 62,370 -----290 - 65,000 65,290 34,853 2031 55,000 2.000% 3,300 58,300 58,300 61,215 -----349 - 55,000 55,349 31,902 2032 55,000 2.000% 2,200 57,200 57,200 60,060 -----319 - 50,000 50,319 25,021 2033 55,000 2.000% 1,100 56,100 56,100 58,905 -----250 - 46,000 46,250 15,171 2034 ------------- 15,171 2035 ------------- 15,171 2036 ------------- 15,171 2037 ------------- 15,171 2038 ------------- 15,171 2039 ------------- 15,171 2040 ------------- 15,171 2041 ------------- 15,171 2042 ------------- 15,171 Total 690,000 85,020 775,020 775,020 813,771 ----- 2,254 - 759,000 761,254 NOTES 1 Plan anticipates the City will lease building to private company until year 2022. December 15 December 15, 2028 December 15, 2033 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 31 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2020B (Refund 2013A Bonds, Sewer Portion) The 2013A Bonds will be current refunded with the issuance of the 2020B Bonds. The call date is 12/1/2020. Bonds will be refunded in the amount of $1,075,000. City Fund:602 Dated:11/12/20 Original Amount:$1,040,000 Mature: Outstanding:$925,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.000% ------------- 10,000 2022 125,000 2.000% 16,420 141,420 141,420 148,491 - 148,491 ---100 -- 148,591 17,171 2023 130,000 2.000% 13,920 143,920 143,920 151,116 - 151,116 ---172 -- 151,288 24,539 2024 130,000 0.400% 11,320 141,320 141,320 148,386 - 148,386 ---245 -- 148,631 31,850 2025 130,000 2.000% 10,800 140,800 140,800 147,840 - 147,840 ---319 -- 148,159 39,209 2026 135,000 2.000% 8,200 143,200 143,200 150,360 - 150,360 ---392 -- 150,752 46,761 2027 135,000 2.000% 5,500 140,500 140,500 147,525 - 147,525 ---468 -- 147,993 54,253 2028 140,000 2.000% 2,800 142,800 142,800 149,940 - 149,940 ---543 -- 150,483 61,936 2029 ------------- 61,936 2030 ------------- 61,936 2031 ------------- 61,936 2032 ------------- 61,936 2033 ------------- 61,936 2034 ------------- 61,936 2035 ------------- 61,936 2036 ------------- 61,936 2037 ------------- 61,936 2038 ------------- 61,936 2039 ------------- 61,936 2040 ------------- 61,936 2041 ------------- 61,936 2042 ------------- 61,936 Total 925,000 68,960 993,960 993,960 1,043,658 - 1,043,658 --- 2,238 -- 1,045,896 NOTES 1 The 2013A Bonds were current refunded with the issuance of the 2020B Bonds. The call date was 12/1/2020. Bonds were refunded in the amount of $1,075,000. December 15 December 15, 2028 December 15, 2033 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 32 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2020B (Refund 2013A Bonds, Improvement Portion) The 2013A Bonds will be current refunded with the issuance of the 2020B Bonds. The call date is 12/1/2020. Bonds will be refunded in the amount of $190,000. City Fund:313 Dated:11/12/20 Original Amount:$185,000 Mature: Outstanding:$145,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 - 2.000% ------------- 37,248 2022 45,000 2.000% 2,100 47,100 47,100 49,455 7,884 ----372 - 30,000 38,256 28,404 2023 50,000 2.000% 1,200 51,200 51,200 53,760 7,558 ----284 - 35,000 42,842 20,047 2024 50,000 0.400% 200 50,200 50,200 52,710 -----200 - 40,500 40,700 10,547 2025 ------------- 10,547 2026 ------------- 10,547 2027 ------------- 10,547 2028 ------------- 10,547 2029 ------------- 10,547 2030 ------------- 10,547 2031 ------------- 10,547 2032 ------------- 10,547 2033 ------------- 10,547 2034 ------------- 10,547 2035 ------------- 10,547 2036 ------------- 10,547 2037 ------------- 10,547 2038 ------------- 10,547 2039 ------------- 10,547 2040 ------------- 10,547 2041 ------------- 10,547 2042 ------------- 10,547 Total 145,000 3,500 148,500 148,500 155,925 15,442 ----857 - 105,500 121,799 NOTES 1 The 2013A Bonds were current refunded with the issuance of the 2020B Bonds. The call date was 12/1/2020. Bonds were refunded in the amount of $190,000. December 15 December 15, 2028 December 15, 2033 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 33 City of St. Joseph, MN Purpose:Taxable G.O. Crossover Refunding Bonds, Series 2020C (Improvement Portion) The 2014A Bonds have been advance crossover refunded with the issuance of the 2020C Bonds. The crossover date is December 1, 2021, and $1,315,000 of Bonds will be called on this date. City Fund:314 Dated:11/12/20 Original Amount:$1,365,000 Mature: Outstanding:$1,365,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 -------------- 85,268 2022 145,000 0.400% 13,503 158,503 158,503 166,428 11,641 ----853 100,045 117,000 229,539 156,304 2023 150,000 0.500% 12,923 162,923 162,923 171,069 16,992 ---- 1,563 - 120,000 138,555 131,937 2024 145,000 0.650% 12,173 157,173 157,173 165,031 10,343 ---- 1,319 - 130,000 141,662 116,427 2025 150,000 0.750% 11,230 161,230 161,230 169,292 9,694 ---- 1,164 - 135,000 145,858 101,055 2026 150,000 1.000% 10,105 160,105 160,105 168,110 9,045 ---- 1,011 - 140,000 150,056 91,005 2027 155,000 1.150% 8,605 163,605 163,605 171,785 8,396 ----910 - 140,000 149,306 76,706 2028 155,000 1.300% 6,823 161,823 161,823 169,914 7,747 ----767 - 145,000 153,514 68,398 2029 155,000 1.450% 4,808 159,808 159,808 167,798 7,098 ----684 - 150,000 157,782 66,373 2030 160,000 1.600% 2,560 162,560 162,560 170,688 6,449 ----664 - 150,000 157,113 60,925 2031 ------------- 60,925 2032 ------------- 60,925 2033 ------------- 60,925 2034 ------------- 60,925 2035 ------------- 60,925 2036 ------------- 60,925 2037 ------------- 60,925 2038 ------------- 60,925 2039 ------------- 60,925 2040 ------------- 60,925 2041 ------------- 60,925 2042 ------------- 60,925 Total 1,365,000 82,728 1,447,728 1,447,728 1,520,114 87,405 ---- 8,935 100,045 1,227,000 1,423,385 NOTES 1 The 2014A Bonds (Improvement Portion) were advance crossover refunded with the issuance of the 2020C Bonds. The crossover date was December 1, 2021, and $1,315,000 of Bonds were called on this date. 2 Special assessment principal outstanding as of 12/31/2021:68,185$ December 15 December 15, 2028 December 15, 2030 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 34 City of St. Joseph, MN Purpose:Taxable G.O. Crossover Refunding Bonds, Series 2020C (Utility Portion) The 2014A Bonds have been advance crossover refunded with the issuance of the 2020C Bonds. The crossover date is December 1, 2021, and $425,000 of Bonds will be called on this date. City Fund:601 Dated:11/12/20 Original Amount:$445,000 Mature: Outstanding:$445,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 -------------- 5,453 2022 40,000 0.400% 5,180 45,180 45,180 47,439 - 6,000 41,439 --55 5,000 - 52,494 12,767 2023 40,000 0.500% 5,020 45,020 45,020 47,271 - 6,000 41,271 --128 -- 47,399 15,145 2024 40,000 0.650% 4,820 44,820 44,820 47,061 - 5,000 42,061 --151 -- 47,212 17,538 2025 40,000 0.750% 4,560 44,560 44,560 46,788 - 5,000 41,788 --175 -- 46,963 19,941 2026 35,000 1.000% 4,260 39,260 39,260 41,223 - 5,000 36,223 --199 -- 41,422 22,103 2027 40,000 1.150% 3,910 43,910 43,910 46,106 - 5,000 41,106 --221 -- 46,327 24,520 2028 40,000 1.300% 3,450 43,450 43,450 45,623 - 5,000 40,623 --245 -- 45,868 26,938 2029 40,000 1.450% 2,930 42,930 42,930 45,077 - 5,000 40,077 --269 -- 45,346 29,354 2030 40,000 1.600% 2,350 42,350 42,350 44,468 - 5,000 39,468 --294 -- 44,761 31,765 2031 45,000 1.900% 1,710 46,710 46,710 49,046 - 5,000 44,046 --318 -- 49,363 34,418 2032 45,000 1.900% 855 45,855 45,855 48,148 - 5,000 43,148 --344 -- 48,492 37,055 2033 ------------- 37,055 2034 ------------- 37,055 2035 ------------- 37,055 2036 ------------- 37,055 2037 ------------- 37,055 2038 ------------- 37,055 2039 ------------- 37,055 2040 ------------- 37,055 2041 ------------- 37,055 2042 ------------- 37,055 Total 445,000 39,045 484,045 484,045 508,247 - 57,000 451,247 -- 2,399 5,000 - 515,647 NOTES 1 The 2014A Bonds (System Portion) were advance crossover refunded with the issuance of the 2020C Bonds. The crossover date was December 1, 2021, and $425,000 of Bonds were called on this date. December 1 December 1, 2028 December 1, 2032 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 35 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2021A (Street Improvements Portion) City Fund:311 Dated:09/14/21 Original Amount:$1,870,000 Mature: Outstanding:$3,190,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 -------------- 190,854 2022 260,000 4.000% 131,542 391,542 391,542 411,119 27,243 19,730 2,510 17,430 - 1,909 150,000 40,000 258,822 58,134 2023 260,000 4.000% 94,600 354,600 354,600 372,330 26,317 19,730 2,510 17,430 -581 -229,898 296,466 0 2024 260,000 4.000% 84,200 344,200 344,200 361,410 25,761 19,730 2,510 17,430 -0 -284,041 349,471 5,271 2025 260,000 4.000% 73,800 333,800 333,800 350,490 25,205 19,730 2,510 17,430 -53 -274,925 339,853 11,324 2026 255,000 4.000% 63,400 318,400 318,400 334,320 24,649 19,730 2,510 17,430 -113 -260,560 324,992 17,915 2027 255,000 4.000% 53,200 308,200 308,200 323,610 24,093 19,730 2,510 17,430 -179 -251,654 315,596 25,312 2028 255,000 4.000% 43,000 298,000 298,000 312,900 23,537 19,730 2,510 17,430 -253 -242,749 306,209 33,520 2029 255,000 4.000% 32,800 287,800 287,800 302,190 22,981 19,730 2,510 17,430 -335 -233,844 296,829 42,550 2030 255,000 2.000% 22,600 277,600 277,600 291,480 22,425 19,730 2,510 17,430 -425 -224,938 287,458 52,408 2031 255,000 2.000% 17,500 272,500 272,500 286,125 21,869 19,730 2,510 17,430 -524 -221,388 283,450 63,358 2032 125,000 2.000% 12,400 137,400 137,400 144,270 21,313 19,730 2,510 17,430 -634 -50,000 111,616 37,575 2033 125,000 2.000% 9,900 134,900 134,900 141,645 20,757 19,730 2,510 17,430 -376 -50,000 110,802 13,477 2034 125,000 2.000% 7,400 132,400 132,400 139,020 20,201 19,730 2,510 17,430 -135 -60,000 120,006 1,083 2035 125,000 2.000% 4,900 129,900 129,900 136,395 19,645 19,730 2,510 17,430 -11 -70,000 129,326 508 2036 120,000 2.000% 2,400 122,400 122,400 128,520 19,089 19,730 2,510 17,430 -5 -70,000 128,764 6,872 2037 -------------- 6,872 2038 -------------- 6,872 2039 -------------- 6,872 2040 -------------- 6,872 2041 -------------- 6,872 2042 -------------- 6,872 Total 3,190,000 653,642 3,843,642 3,843,642 4,035,824 345,081 295,950 37,650 261,450 - 5,533 150,000 2,563,996 3,659,660 NOTES 1 Debt service schedule is the "20th Ave Improvement Portion" of the 2021A Bonds only and secured by special assessments and ad valorem property tax. 2 $194,000 in special assessments are deferred until the properties are connected to the sewer system. Total does not include Arm Reserve property. 3 Special assessment principal outstanding as of 12/31/2021:606,764$ balance after removing Army Reserve Removed assessment for US Army Reserve facility - federal gov't exempt from assessments. City needs to cover with debt levy. December 1 December 1, 2029 December 1, 2032 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 36 City of St. Joseph, MN Purpose:G.O. Bonds, Series 2021A (Refunding Portion) The 2012A Bonds will be current refunded with the issuance of the 20201A Bonds. City Fund:601 Dated:09/14/21 Original Amount:$1,870,000 Mature: Outstanding:$2,185,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 -------------- 50,000 2022 430,000 4.000% 109,493 539,493 539,493 566,467 -- 566,467 --500 -- 566,967 77,475 2023 470,000 4.000% 70,200 540,200 540,200 567,210 -- 567,210 --775 -- 567,985 105,259 2024 495,000 4.000% 51,400 546,400 546,400 573,720 -- 573,720 -- 1,053 -- 574,773 133,632 2025 515,000 4.000% 31,600 546,600 546,600 573,930 -- 573,930 -- 1,336 -- 575,266 162,298 2026 80,000 4.000% 11,000 91,000 91,000 95,550 -- 95,550 -- 1,623 -- 97,173 168,471 2027 95,000 4.000% 7,800 102,800 102,800 107,940 -- 107,940 -- 1,685 -- 109,625 175,296 2028 100,000 4.000% 4,000 104,000 104,000 109,200 -- 109,200 -- 1,753 -- 110,953 182,249 2029 ------------- 182,249 2030 ------------- 182,249 2031 ------------- 182,249 2032 ------------- 182,249 2033 ------------- 182,249 2034 ------------- 182,249 2035 ------------- 182,249 2036 ------------- 182,249 2037 ------------- 182,249 2038 ------------- 182,249 2039 ------------- 182,249 2040 ------------- 182,249 2041 ------------- 182,249 2042 ------------- 182,249 Total 2,185,000 285,493 2,470,493 2,470,493 2,594,017 -- 2,594,017 -- 8,724 -- 2,602,742 NOTES 1 The 2012A Bonds will be current refunded with the issuance of the 2021A Bonds. December 1 December 1, 2029 December 1, 2032 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 37 City of St. Joseph, MN Purpose:PRELIMINARY G.O. Bonds, Series 2022A (Abatement Portion) Finance a portion of the Community Center City Fund:302 Dated:08/30/22 Original Amount:$6,125,000 Mature: Outstanding:$6,125,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 --------------- 2022 - 0.000% -------------- 2023 170,000 2.300% 273,888 443,888 443,888 466,083 ----470,000 --- 470,000 26,112 2024 235,000 2.400% 208,133 443,133 443,133 465,289 ----465,000 261 -- 465,261 48,240 2025 240,000 2.500% 202,493 442,493 442,493 464,617 ----465,000 482 -- 465,482 71,230 2026 245,000 2.600% 196,493 441,493 441,493 463,567 ----465,000 712 -- 465,712 95,450 2027 255,000 2.750% 190,123 445,123 445,123 467,379 ----465,000 955 -- 465,955 116,282 2028 260,000 2.900% 183,110 443,110 443,110 465,266 ----465,000 1,163 -- 466,163 139,335 2029 265,000 3.050% 175,570 440,570 440,570 462,599 ----465,000 1,393 -- 466,393 165,158 2030 275,000 3.150% 167,488 442,488 442,488 464,612 ----460,000 1,652 -- 461,652 184,322 2031 285,000 3.250% 158,825 443,825 443,825 466,016 ----460,000 1,843 -- 461,843 202,341 2032 295,000 3.350% 149,563 444,563 444,563 466,791 ----460,000 2,023 -- 462,023 219,801 2033 305,000 3.450% 139,680 444,680 444,680 466,914 ----460,000 2,198 -- 462,198 237,319 2034 315,000 3.550% 129,158 444,158 444,158 466,365 ----460,000 2,373 -- 462,373 255,535 2035 325,000 3.650% 117,975 442,975 442,975 465,124 ----460,000 2,555 -- 462,555 275,116 2036 335,000 3.750% 106,113 441,113 441,113 463,168 ----460,000 2,751 -- 462,751 296,754 2037 350,000 3.850% 93,550 443,550 443,550 465,728 ----460,000 2,968 -- 462,968 316,172 2038 365,000 3.950% 80,075 445,075 445,075 467,329 ----460,000 3,162 -- 463,162 334,258 2039 375,000 4.000% 65,658 440,658 440,658 462,690 ----460,000 3,343 -- 463,343 356,944 2040 395,000 4.050% 50,658 445,658 445,658 467,940 ----460,000 3,569 -- 463,569 374,855 2041 410,000 4.100% 34,660 444,660 444,660 466,893 ----460,000 3,749 -- 463,749 393,944 2042 425,000 4.200% 17,850 442,850 442,850 464,993 ----460,000 3,939 -- 463,939 415,033 Total 6,125,000 2,741,058 8,866,058 8,866,058 9,309,361 ---- 9,240,000 41,092 -- 9,281,092 NOTES 1 Debt service schedule is the "Abatement Portion" of the 2022A Bonds only and secured by an abatement levy and ad valorem property tax. 2 City plans to cancel Abatement Levy and use Sales Tax Revenue to Pay the Bonds December 15 December 15, 2030 December 15, 2042 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 38 City of St. Joseph, MN Purpose:PRELIMINARY G.O. Bonds, Series 2022A (Equipment Portion) purchase a fire truck City Fund:316 Dated:08/30/22 Original Amount:$715,000 Mature: Outstanding:$715,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 --------------- 2022 - 0.000% -------------- 2023 65,000 2.300% 25,788 90,788 90,788 95,328 ------38,400 58,000 96,400 5,612 2024 75,000 2.400% 18,470 93,470 93,470 98,144 -----56 38,400 58,000 96,456 8,598 2025 75,000 2.500% 16,670 91,670 91,670 96,254 -----86 38,400 58,000 96,486 13,414 2026 80,000 2.600% 14,795 94,795 94,795 99,535 -----134 38,400 58,000 96,534 15,153 2027 80,000 2.750% 12,715 92,715 92,715 97,351 -----152 38,400 58,000 96,552 18,990 2028 80,000 2.900% 10,515 90,515 90,515 95,041 -----190 38,400 58,000 96,590 25,065 2029 85,000 3.050% 8,195 93,195 93,195 97,855 -----251 38,400 58,000 96,651 28,520 2030 85,000 3.150% 5,603 90,603 90,603 95,133 -----285 38,400 58,000 96,685 34,603 2031 90,000 3.250% 2,925 92,925 92,925 97,571 -----346 38,400 58,000 96,746 38,424 2032 ----------38,400 - 38,400 76,824 2033 ----------38,400 - 38,400 115,224 2034 ----------38,400 - 38,400 153,624 2035 ----------38,400 - 38,400 192,024 2036 ----------38,400 - 38,400 230,424 2037 ----------38,400 - 38,400 268,824 2038 ----------38,400 - 38,400 307,224 2039 ----------38,400 - 38,400 345,624 2040 ----------38,400 - 38,400 384,024 2041 ----------38,400 - 38,400 422,424 2042 ----------38,400 - 38,400 460,824 Total 715,000 115,676 830,676 830,676 872,209 ----- 1,500 768,000 522,000 1,291,500 NOTES 1 Debt service schedule is the "Equipment Portion" of the 2022A Bonds only and secured by ad valorem property tax. 2 St. Joseph and St. Wendel Townships will participate in the cost of this fire truck (approximately 40% of the annual payments). December 15 December 15, 2030 December 15, 2031 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 39 City of St. Joseph, MN Purpose:PRELIMINARY G.O. Bonds, Series 2022A (Improvement Portion) 2022 street improvements City Fund:315 Dated:08/30/22 Original Amount:$670,000 Mature: Outstanding:$670,000 Call: Final Maturity: Year Principal Due Principal Rates Interest Total P&I Subject to Tax Levy 105% Subject to Tax Levy Less: Special Assessments Less: Sanitary Sewer Less: Water Less: Storm Water Less: Sales Tax Revenues Less: Interest Income Less: Other Revenues Net Tax Levy Total Ending Cash Balance 2021 --------------- 2022 - 0.000% -------------- 2023 70,000 2.300% 24,351 94,351 94,351 99,069 32,697 ------65,000 97,697 3,346 2024 70,000 2.400% 17,243 87,243 87,243 91,605 31,145 ----33 -60,000 91,179 7,282 2025 70,000 2.500% 15,563 85,563 85,563 89,841 30,071 ----73 -60,000 90,144 11,864 2026 70,000 2.600% 13,813 83,813 83,813 88,003 28,997 ----119 -60,000 89,116 17,167 2027 65,000 2.750% 11,993 76,993 76,993 80,842 27,923 ----172 -55,000 83,095 23,270 2028 65,000 2.900% 10,205 75,205 75,205 78,965 26,850 ----233 -55,000 82,082 30,147 2029 65,000 3.050% 8,320 73,320 73,320 76,986 25,776 ----301 -50,000 76,077 32,904 2030 65,000 3.150% 6,338 71,338 71,338 74,904 24,702 ----329 -50,000 75,031 36,597 2031 65,000 3.250% 4,290 69,290 69,290 72,755 23,628 ----366 -45,000 68,994 36,301 2032 65,000 3.350% 2,178 67,178 67,178 70,536 22,554 ----363 -45,000 67,917 37,040 2033 ------------- 37,040 2034 ------------- 37,040 2035 ------------- 37,040 2036 ------------- 37,040 2037 ------------- 37,040 2038 ------------- 37,040 2039 ------------- 37,040 2040 ------------- 37,040 2041 ------------- 37,040 2042 ------------- 37,040 Total 670,000 114,291 784,291 784,291 823,506 274,342 ---- 1,989 - 545,000 821,331 NOTES 1 Debt service schedule is the " Improvement Portion" of the 2022A Bonds only and secured by special assessments and ad valorem property tax. 2 $133,667 of special assessments were prepaid and used to reduce the Bonds proceeds needed to fund the projects. 3 Estimated special assessment principal outstanding as of 12/31/2022:209,190 December 15 December 15, 2030 December 15, 2037 DEBT SERVICE PAYMENTS SOURCES OF FUNDS FOR DEBT SERVICES PAYMENTS August 1, 2022 Page 40 Council Agenda Item 4d MEETING DATE: August 1, 2022 AGENDA ITEM: Millstream Arts Festival Permit Amendment SUBMITTED BY: Administration PREVOUS COUNCIL ACTION: Council had approved the special event permit/street closure for Millstream Arts Festival. BACKGROUND INFORMATION: The Millstream Arts Festival approached staff in regards to slightly amending their street closure request as part of their event permit. The Council had requested that any amendment of the permit be brought back for approval. The applicant has submitted a revised plan that would include utilizing a portion of the alley between between Krewe Restaurant and the La Playette as well as a portion of the La Playette’s parking lot to setup a stage for music. Staff reached out to the owners of the La Playette and they have approved the use of that space. ATTACHMENTS: Amended Site Plan Original Site Plan REQUESTED COUNCIL ACTION: Approve the amendment to the special event permit submitted by Millstream Arts Festival. \--. · ,~ cl. I-V> 0 V) ll} < --z Hudson l C.o. I -0 v C 1 \) J \j .... 0 (,. () Ci? (!} G (,IJ ,-(s Bo p; -Z...'Z..a D iddl e•/ s A,+i 5+-Boo +hS f.:,Gllo [ Cuc..; 11 a.. L., Pl~e.-He.. PCA-·ho ] (b (~ ~- c..h i Id r e_n' S Arr r?:,o.d Ha.lo j I- A r+is+ B oo+-As Coll e...5e.., A \I e. 1" /}-,..tis+-800 +-h s A-I le.>_j ~re.we... I Lo?-f~ C. I I I I M u ~ic. I S-fr>.5~ ---r F ood C...o u...r -t-,• F /ou r .,..: 'F lo w d J '-'-P i k:.f /11 oo n • :--)Qftl b u Sa. S J 1--b) -,e ] J -g t j .J -..... <... t Q) :t V) Council Agenda Item 6b MEETING DATE: August 1, 2022 AGENDA ITEM: Rock for Alzheimer’s SUBMITTED BY: Administration BACKGROUND INFORMATION: Bad Habit Brewing Company submitted a special event permit for their annual Rock 4 Alzheimer’s that will be held on September 11th from 12PM – 9PM. Staff has reviewed the request and it is required that 1 off-duty officer be present at the event. ATTACHMENTS: Event Application REQUESTED COUNCIL ACTION: Approve the special event permit submitted by Bad Habit Brewing Company for Rock 4 Alzheimer’s on September 11th; requiring 1 off-duty officer to be present. Council Agenda Item MEETING DATE: August 1, 2022 AGENDA ITEM: Community Center Campaign Name and Donation SUBMITTED BY: Administration/Finance STAFF RECOMMENDATION: Staff recommends the name for the campaign be the St. Joseph Community Center YMCA since it is consistent with the case statement messaging that was shared with those interviewed. Hartsook and staff are recommending donation be routed to the St. Cloud Area Family YMCA through a separate St. Joseph account since the City would not be charged a fee/interest. City Finance Director Lori Bartlett would monitor financials. PREVIOUS COUNCIL ACTION: On December 20, 2021, the City Council approved a contract with Hartsook Fundraising Consultant Worldwide. BACKGROUND INFORMATION: Hartsook Fundraising began work on the City’s fundraising campaign in January 2022. Hartsook has completed the first phase of the campaign, including completing interviews to gauge input on the project, such as fundraising capacity, and operations under the YMCA. A couple of the next steps that need to be determined now are a name for the center for campaign marketing and how and where to donate meaning where the funds are held. The Case Statement prepared by Hartsook for the interviews referenced the facility as the Community Center and YMCA. Respondents who were interviewed were largely supportive of the YMCA operating the center. Options for Council consideration on where to donate are as follows: Central MN Community Foundation: Charge 2% Initiative Foundation: Charge 2.5% St. Cloud Area Family YMCA: No Charge BUDGET/FISCAL IMPACT: ATTACHMENTS: REQUESTED COUNCIL ACTION: Determine and approve the center name for the campaign and where funds will be donated to. 7 Council Agenda Item 8 ______ MEETING DATE: August 1, 2022 AGENDA ITEM: 2023 Capital Plans/Debt Budget Discussion SUBMITTED BY: Finance/Administration/Departments BOARD/COMMISSION/COMMITTEE RECOMMENDATION: The EDA and Park Board reviewed their draft 2023 budgets and capital plans. The Engineer presented potential project priorities to the all city board meeting. Each Board presented current initiatives in their respective areas at the all city board meeting. PREVIOUS COUNCIL ACTION: Council began discussions of budget and capital priorities in June and July. BACKGROUND INFORMATION: To begin, the Engineer Capital Improvement Plan (CIP) has been discussed at the May council workshop. The improvement projects identified as 2023 priorities include the following projects. If council is supportive of the projects, the feasibility reports should be ordered in soon so S.E.H. can complete their survey work before winter. This also allows the City to be on the front of the bidding season that may bring in more favorable bids. 2023 Street Overlay Improvements: Ash St E, 2nd Ave NE, First St E, Gumtree St E, 7th Ave NE, Fir St E, Northland Dr (include sidewalk extension and correct storm drain issues) Community Center Capital Campaign/Design Ridgewood Lift Station Stationery Generator Elm St Extension Right-Of-Way Acquisition Proposed developments that may spur street and utility work include the following projects: Trobec’s Busing – extend Fir St and some of 24th Ave NE Gateway Development (Makers Group or other possibilities) – CSAH 2 sewer extension/sewer lift station River Bats Storage Development – Stormwater & water extension, future sewer extension/lift station StorageLink – Elm St extension right-of-way acquisition Knife River Rail Extension - connect to Fir St NE, wetland delineation Knife River Transload Station (future) –24th Ave NE/Westwood Pkwy extension Merkling Property Development – 1st Ave NE street and utility improvements/extensions Rivers Bend Development – sewer lift station, Jade Road South construction – extend utilities Wedding Event Center – extend utilities north along Jade Road The Park Board project priority was discussed at their July 25, 2022 meeting. The following priorities were recommended for 2023. East Park Phase I Surveillance Cameras Dog Park Sun Shading Millstream Concession Roof Replacement Scheduled 2022, may delay until 2023: Klinefelter Trail Improvements Klinefelter Restrooms/utility extension Centennial Full Court Basketball Millstream – Remove Bleachers & Fencing The EDA and CVB met in July to review their budget requests. Their final recommendations will be determined at their August meetings. A couple initiatives discussed include looking for a lot(s) for a downtown boutique hotel, JR Mobile site cleanup, marketing initiatives. The Fire Board will meet on Aug. 16th to review their 2022 budget proposals. Based on current actions of the Council and draft from the Fire Chief, the equipment purchases below are planned for 2023. The capital equipment plans (CEP) were also printed for Council’s review/comment. Below is a summary of the equipment requests for each department for the next two years. Department 2023 [Equip Certificate] 2024 2025 [Equip Certificate] Administration Election Equipment Election Equipment Administration Computers Computers/Server Computers EDA Business Development Business Development Business Development EDA Computers Fire Computers Air Packs Air Packs Fire Pumper/Tanker Truck Paint Fire Hall Roof Maintenance Fire Driveway Maintenance Mule ATV/Pump/Tank Fire Turnout Gear Turnout Gear Turnout Gear Fire Grass Rig Police Tasers Mobile Video Printer Police Defibulators Body Cameras Police Squad Equipment Squad Equipment Squad Equipment Police Radar Radar Radar Police Squads (2) Squad Squad (2) Police Surveillance Equipment Mobile Laptops Public Works Seal coat/Crack fill Seal coat/Crack fill Seal coat/Crack fill Public Works Maintenance Truck Tire Station w/Balancer Maintenance Truck Public Works 5225 JD Tractor #10 Bobcat UTV PD/PW Garage Public Works 1585 JD Tractor Public Works Transportation Plan Update Pavement Mgmt Plan Update Public Works Plow Truck Plow Truck Public Works Toro Mower 96” Wing Deck Mower Enterprise WTP2 Air Compressor Locator UB Computer Enterprise Sewer Root Foam/Lining Stormwater MS4 Update Sewer Root Foam/Lining Enterprise Holiday Light Displays Scissor Lift Enterprise Sewer Planning Enterprise Cellular Meter Conversion Cellular Meter Conversion Cellular Meter Conversion Equipment Certificates: The next equipment certificate issues are scheduled for 2023 and 2025. The two certificates are issued on a rotating 5-year basis to minimize spikes in the general levy budget. The proposed 2023 certificate is estimated to be $400,000. A schedule of the equipment to be funded with the 2023 equipment certificates is attached to this agenda item. Debt Levy: The Debt Management Study (DMS) was prepared by Northland Securities with review by the Finance Dept. The DMS will be presented by Tammy Omdal on a separate agenda item at the Aug. 1st meeting. Attached is a summary of the proposed 2023 debt levies. ATTACHMENTS: Capital Equipment Plan Summaries: Administration EDA Fire Police Public Works Enterprise Park Board 2023 Equipment Certificate Funding Summary Fund 390 – ARPA Projects Summary 2023 Debt Levy Summary REQUESTED COUNCIL ACTION: Discuss and provide feedback on the capital/debt budget items presented. 2023 City of St. Joseph General Fund Capital Equipment Plan ‐ Administration Draft as of July 26, 2022 12/31/21 Available through 6/30 through 6/30 Project Budget Project Purchased Replace Reserve Budget Grants/Aids Spent 2022 Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment Year Year Balance 2022 2022 2022 Balance 2023 Balance 2024 2025 2026 2027 Election 101-41410-xxx AD-1401 Election Equipment various annually 4,872.31 3,500.00 300.00 8,072.31 6,300.00 14,372.31 7,000.00 7,000.00 8,000.00 8,000.00 Administration 490-41430-570 AD-1502 Scanners 2008/2010/ 2016/2019 2023/2028 ‐ ‐ ‐ ‐ ‐ 500.00 500.00 500.00 500.00 490-41430-570 AD-1403 Telephone System 2017 on going 1,771.72 ‐ 1,771.72 ‐ 1,771.72 250.00 250.00 250.00 250.00 490-41430-570 AD-1411 Mailing System 2019 2023 6,375.00 500.00 6,875.00 500.00 7,375.00 500.00 500.00 500.00 500.00 490-41430-570 AD-1802 Presentation Equipment 2017 on going 1,750.00 500.00 2,250.00 750.00 3,000.00 1,250.00 1,500.00 1,500.00 1,500.00 490-41430-570 AD-1803 Community Signs 2017 on going 7,800.00 ‐ 7,800.00 1,000.00 8,800.00 1,200.00 1,500.00 2,000.00 2,000.00 490-41430-570 AD-1405 Equipment Replacement on going on going 7,221.62 500.00 7,721.62 250.00 7,971.62 250.00 250.00 250.00 250.00 24,918.34 1,500.00 ‐ ‐ 26,418.34 2,500.00 28,918.34 3,950.00 4,500.00 5,000.00 5,000.00 490-41430-581 AD-1406 Computer Replacement various 2023/2025 33,273.10 1,500.00 34,773.10 5,000.00 39,773.10 5,000.00 5,000.00 5,000.00 5,000.00 490-41430-582 AD-1407 Computer Software various on going 3,422.17 750.00 4,172.17 750.00 4,922.17 1,000.00 1,000.00 1,000.00 1,000.00 3,422.17 750.00 ‐ ‐ 4,172.17 750.00 4,922.17 1,000.00 1,000.00 1,000.00 1,000.00 Building Inspection 490-42401-550 AD-2001 Vehicle new 2025 ‐ ‐ ‐ ‐ ‐ ‐ ‐ 500.00 500.00 500.00 500.00 ‐ ‐ ‐ ‐ ‐ ‐ ‐ 500.00 500.00 500.00 500.00 TOTAL ADMINISTRATION GENERAL CEP 66,485.92 7,250.00 ‐ 300.00 73,435.92 14,550.00 87,985.92 17,450.00 18,000.00 19,500.00 19,500.00 Planning & Zoning 101-41910-300 AD-1410 Plan Update-Comp Plan 2017 2022 18,242.54 5,500.00 ‐ ‐ 23,742.54 6,000.00 29,742.54 7,000.00 7,500.00 8,000.00 9,000.00 Parks 101-45202-300 AD-1901 Master Park Planning 2008 as needed 2,500.00 1,500.00 ‐ ‐ 4,000.00 1,500.00 5,500.00 2,000.00 2,500.00 3,000.00 3,000.00 Finance 101-41530-300 AD-1801 Plan Update-GASB 2017 2020 250.00 250.00 ‐ ‐ 500.00 500.00 1,000.00 500.00 750.00 750.00 750.00 20,992.54 7,250.00 ‐ ‐ 28,242.54 8,000.00 36,242.54 9,500.00 10,750.00 11,750.00 12,750.00 PEG Equipment 108-41950-580 CAB-1601 equip replacement 2017 on going 4,804.63 6,400.00 2,543.63 ‐ 7,348.26 6,400.00 13,748.26 6,400.00 6,400.00 6,400.00 6,400.00 4,804.63 6,400.00 2,543.63 ‐ 7,348.26 6,400.00 13,748.26 6,400.00 6,400.00 6,400.00 6,400.00 TOTAL ADMINISTRATION/PLAN/FINANCE/PEG GENERAL CEP 92,283.09 20,900.00 2,543.63 300.00 109,026.72 28,950.00 137,976.72 33,350.00 35,150.00 37,650.00 38,650.00 2020/2023/2025 Equipment Certificates Administration 409-41430-581 AD-1406 Computer Replacement various 2023/2025 14,333.26 3,480.99 10,852.27 50,000.00 60,852.27 100,000.00 new-41430-570 AD-1411 Mailing System 2019 2023 ‐ ‐ 1,125.00 1,125.00 ‐ new-41430-570 AD-1502 Scanners 2008/2010/ 2016/2019 2023/2028 ‐ ‐ 18,500.00 18,500.00 ‐ TOTAL ADMINISTRATION CEP 106,616.35 20,900.00 2,543.63 3,780.99 119,878.99 69,625.00 218,453.99 100,000.00 Debt Service Relief Fund 390/ARPA 104 390-41430-300 Compensation Study Update/Job Classification 2022 2027 ‐ 10,000.00 4,200.00 5,800.00 ‐ 5,800.00 15,000.00 390-45205-300 Community Center Capital Campaign 2022 n/a ‐ 400,000.00 140,000.00 260,000.00 20,000.00 280,000.00 390-42220-300 Fire Study 2022 n/a ‐ 15,000.00 15,044.25 (44.25) ‐ (44.25) 390-41430-580 Welcome to St. Joseph Signs (2) 2024 n/a ‐ ‐ ‐ ‐ ‐ 110,000.00 390-46500-300 Birch St Redevelopment Plan 2027 n/a ‐ ‐ ‐ ‐ ‐ 5,000.00 104-41430-582 Finance Software Conversion 2022 n/a ‐ 50,630.00 50,630.00 ‐ 50,630.00 50,630.00 104-41430-581 Technology Upgrades 2022 2030 ‐ 42,554.82 5,020.01 37,534.81 ‐ 37,534.81 104-41430-581 Main Server Upgrade 2022 2027 100,000.00 ‐ 86,742.39 13,257.61 ‐ 13,257.61 ADM-1 2023 Capital Expenditures General Fund Capital Improvement Plan ‐ EDA EDA Recommended: August 16, 2022 Draft as of July 27, 2022 12/31/2021 Available through 6/30 through 6/30 Project Project Reserve Budget Grants/Aids Spent 2022 Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment Balance 2022 2022 2022 Balance 2023 Balance 2024 2025 2026 2027 EDA 150-46500-582 EDA-1401 Computer/Software 2,806.74 500.00 3,306.74 500.00 3,806.74 500.00 500.00 500.00 500.00 EDA 150-46500-588 EDA-1402 Business Development 524.00 25,000.00 8,440.78 17,083.22 25,000.00 42,083.22 30,000.00 30,000.00 35,000.00 35,000.00 524.00 25,000.00 ‐ 8,440.78 17,083.22 25,000.00 42,083.22 30,000.00 30,000.00 35,000.00 35,000.00 TOTAL EDA Fund 150 CEP 3,330.74 25,500.00 ‐ 8,440.78 20,389.96 25,500.00 45,889.96 30,500.00 30,500.00 35,500.00 35,500.00 250-46500-588 EDA-1402 Business Development 377,053.91 ‐ ‐ 377,053.91 ‐ 377,053.91 ‐ ‐ ‐ ‐ TOTAL EDA CAPITAL PLAN 380,384.65 25,500.00 ‐ 8,440.78 397,443.87 25,500.00 422,943.87 30,500.00 30,500.00 35,500.00 35,500.00 EDA-1 St. Joseph Fire Department Capital Equipment Plan ‐ for Payable 2023 Draft as of July 27, 2022 12/31/2021 6/30 Available Grants/ 6/30 Available Purchased Replace Reserve Budget Adjustments Spent Reserve Budget 2023 Budget Budget Budget Budget CIP #Account Code Department Object Year Year Description Funds 2022 2022 2022 Funds 2023 Balance 2024 2025 2026 2027 FD-1401 105-42210-581/582 Fire Administration Computer Hardware/Software 2010,2018 2023 3 Computers/iPads 5,330.27 500.00 5,830.27 500.00 6,330.27 1,000.00 1,000.00 1,000.00 1,000.00 Total Fire Administration Computer Hardware/Software 5,330.27 500.00 ‐ ‐ 5,830.27 500.00 6,330.27 1,000.00 1,000.00 1,000.00 1,000.00 FD-1402 105-42220-580 Fire Fighting Other Equipment annual annual Turnout Gear 44,206.73 4,000.00 48,206.73 8,000.00 56,206.73 8,000.00 8,000.00 8,000.00 8,000.00 Total Fire Fighting Other Equipment 44,206.73 4,000.00 ‐ ‐ 48,206.73 8,000.00 56,206.73 8,000.00 8,000.00 8,000.00 8,000.00 FD-1404 105-42220-584 Fire Fighting 1996-2005 2019-2026 Extrication Equip 36,562.40 2,300.00 38,862.40 2,700.00 41,562.40 2,700.00 2,700.00 2,700.00 2,700.00 Total Fire Fighting Equipment Reserve 36,562.40 2,300.00 ‐ ‐ 38,862.40 2,700.00 41,562.40 2,700.00 2,700.00 2,700.00 2,700.00 FD-1403 105-42220-585 Fire Fighting Firefighter Equipment 2012 2024 6 Wheeler 5,903.95 1,350.00 7,253.95 1,400.00 8,653.95 1,400.00 1,400.00 1,400.00 1,400.00 FD-1405 105-42220-585 Fire Fighting Firefighter Equipment 2012 2022 Rescue Van 259.58 ‐ 259.58 6,500.00 6,759.58 6,500.00 6,500.00 6,500.00 6,500.00 FD-1406 105-42220-585 Fire Fighting Firefighter Equipment 2012 2032 Pumper Truck 134,323.77 5,000.00 139,323.77 5,000.00 144,323.77 5,000.00 5,000.00 5,000.00 5,000.00 FD-2202 105-42220-585 Fire Fighting Firefighter Equipment 2023 2043 Pumper/Tanker 20,000.00 15,000.00 35,000.00 15,000.00 50,000.00 10,000.00 10,000.00 10,000.00 10,000.00 FD-1407 105-42220-585 Fire Fighting Firefighter Equipment 2001 2026 Ladder Truck #2 226,750.00 ‐ 226,750.00 10,000.00 236,750.00 10,000.00 10,000.00 10,000.00 10,000.00 FD-1408 105-42220-585 Fire Fighting Firefighter Equipment 1997 2022 Grass Rig #3 80,000.00 1,500.00 81,500.00 1,500.00 83,000.00 2,500.00 2,500.00 2,500.00 2,500.00 FD-2201 105-42220-585 Fire Fighting Firefighter Equipment 2005 2025 Crew Cab #6 ‐ ‐ ‐ 11,250.00 11,250.00 11,250.00 11,250.00 11,250.00 7,500.00 FD-1409 105-42220-585 Fire Fighting Firefighter Equipment 1999 2028 Tanker #4 31,501.00 2,500.00 34,001.00 2,500.00 36,501.00 2,500.00 2,500.00 5,000.00 5,000.00 FD-1417 105-42220-585 Fire Fighting Firefighter Equipment 2013 2019 Air Packs 6,800.00 1,500.00 8,300.00 3,500.00 11,800.00 3,000.00 2,500.00 2,250.00 2,250.00 FD-1410 105-42220-585 Fire Fighting Firefighter Equipment on going on going Replacement 16,958.08 2,500.00 2,447.00 5,997.23 15,907.85 2,500.00 18,407.85 2,500.00 2,500.00 2,500.00 2,500.00 Total Fire Fighting Equipment 522,496.38 29,350.00 2,447.00 5,997.23 548,296.15 59,150.00 607,446.15 54,650.00 54,150.00 56,400.00 52,650.00 FD-1411 105-42250-580 Fire Communication Other Equipment 2007 on going 800 MHz Radios 48,356.75 250.00 48,606.75 3,500.00 52,106.75 3,500.00 3,500.00 3,500.00 3,500.00 FD-1412 105-42250-580 Fire Communication Other Equipment on going on going Replacement 4,352.22 3,000.00 7,352.22 3,000.00 10,352.22 3,000.00 3,000.00 3,000.00 3,000.00 Total Fire Communications Equipment 52,708.97 3,250.00 ‐ ‐ 55,958.97 6,500.00 62,458.97 6,500.00 6,500.00 6,500.00 6,500.00 FD-1413 105-42270-580 Medical Services Other Equipment on going on going Replacement 3,153.33 200.00 3,353.33 200.00 3,553.33 200.00 200.00 200.00 200.00 Total Medical Services Equipment 3,153.33 200.00 ‐ ‐ 3,353.33 200.00 3,553.33 200.00 200.00 200.00 200.00 FD-1414 105-42280-530 Fire Station & Building Equipment Reserve on going on going Building Repairs 4,500.00 37,500.00 42,000.00 37,500.00 79,500.00 37,500.00 37,500.00 25,000.00 25,000.00 FD-1415 105-42280-530 Fire Station & Building Equipment Reserve 2018 2023 Parking Lot 3,000.00 1,000.00 4,000.00 1,000.00 5,000.00 1,000.00 1,000.00 1,000.00 1,000.00 FD-1416 105-42280-530 Fire Station & Building Improvements other than Building 2018 2024 Painting 3,500.00 1,500.00 5,000.00 1,500.00 6,500.00 1,500.00 1,500.00 1,500.00 1,500.00 Total Fire Station & Building Improvements other than Building 11,000.00 40,000.00 ‐ ‐ 51,000.00 40,000.00 91,000.00 40,000.00 40,000.00 27,500.00 27,500.00 Total Capital Equipment ‐ Fire Fund 675,458.08 79,600.00 2,447.00 5,997.23 751,507.85 117,050.00 868,557.85 113,050.00 112,550.00 102,300.00 98,550.00 Note: The fire department is funded by the City of St. Joseph, St. Joseph Township and St. Wendel Township. trade‐in value, rescue van Proposed Debts FD-1407 105-42220-585 Fire Fighting Firefighter Equipment 2001 2026 Ladder Truck #2-2026 - after down payment + trade in value 583,250.00 FD-1406 105-42220-585 Fire Fighting Firefighter Equipment 2023 2043 Pumper/Tanker Truck-2022, Fire Relief to assist with equiping truck 715,000.00 FD-1409 105-42220-585 Fire Fighting Firefighter Equipment 1999 2028 Tanker #4-2028 - may last longer with new tank FD-1406 105-42220-585 Fire Fighting Firefighter Equipment 2012 2032 Pumper Truck #1-2032 Debt Service Relief Fund/ARPA/FEMA Grant - 100% City Financing 390-42210-300 Fire Administration Professional Services 2021 2022 Fire Study 15,000.00 ARPA City Only Fire Fighting Firefighter Equipment 2012 2022 Rescue Van 160,000.00 105-42220-585 Fire Fighting Firefighter Equipment 2022 2042 Rescue Van 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 Fire Board Recommended August 16, 2022 FIRE-1 2023 Capital Expenditures General Fund Capital Equipment Plan ‐ Police Draft as of July 27, 2022 12/31/2021 Available Grants/ through 6/30 Project Budget Project Purchased Replace Reserve Budget Transfers Spent 2022 Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment Year Year Balance 2022 2022 2022 Balance 2023 Balance 2024 2025 2026 2027 Police - General 490-42120-580 PD-1401 Tasers 1 - 13 2015 2025 7,749.50 1,800.00 9,549.50 1,150.00 10,699.50 1,150.00 1,150.00 1,150.00 1,150.00 490-42120-580 PD-1410 Surveillance System 2021 2022 ‐ 500.00 500.00 750.00 1,250.00 1,000.00 1,250.00 1,500.00 1,750.00 490-42120-580 PD-1410 Printer 2021 2026 29.80 625.00 654.80 625.00 1,279.80 625.00 625.00 500.00 500.00 490-42120-580 PD-1412 AED Defibulators 2013 2023 4,157.70 850.00 3,398.00 1,609.70 5,450.00 7,059.70 900.00 950.00 1,000.00 1,050.00 490-42120-580 PD-2201 AED SaveStation 2019 2029 ‐ 2,025.00 2,025.00 2,025.00 4,050.00 2,025.00 2,025.00 2,025.00 2,025.00 490-42120-580 PD-2101 Body Cameras 2022 2028 ‐ 500.00 500.00 4,900.00 5,400.00 1,500.00 1,500.00 1,500.00 1,500.00 490-42120-580 PD-2101 Body Camera Computer 2022 2027 ‐ ‐ ‐ 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 490-42120-580 PD-2201 ID Maker 2022 2042 ‐ ‐ 2,159.83 2,159.83 ‐ 125.00 125.00 125.00 125.00 125.00 125.00 490-42120-580 PD-1402 Hand Guns & Leather 2020 2030 250.00 350.00 183.50 416.50 1,600.00 2,016.50 1,600.00 1,600.00 1,600.00 1,600.00 12,187.00 6,650.00 2,159.83 5,741.33 15,255.50 18,625.00 33,880.50 10,925.00 11,225.00 11,400.00 11,700.00 Police-Communications 490-42151-580 PD-1403 Mobile Radios 2008 2024+8,706.92 1,000.00 9,706.92 1,000.00 10,706.92 2,900.00 2,900.00 2,900.00 2,900.00 490-42151-580 PD-1404 Portable Radios 2015/2020 2025+11,171.35 1,800.00 12,971.35 1,800.00 14,771.35 2,300.00 2,300.00 2,300.00 2,300.00 490-42151-580 PD-1405 Radar 701 2013 2021 2,685.00 265.00 2,950.00 265.00 3,215.00 265.00 265.00 265.00 265.00 490-42151-580 PD-1405 Radar 702 2015 2023 2,042.50 300.00 2,342.50 300.00 2,642.50 265.00 265.00 265.00 265.00 490-42151-580 PD-1405 Radar 703 2016 2024 1,798.86 265.00 2,063.86 265.00 2,328.86 265.00 265.00 265.00 265.00 490-42151-580 PD-1405 Radar 704 2014 2022 2,125.00 525.00 2,650.00 265.00 2,915.00 265.00 265.00 265.00 265.00 490-42151-580 PD-1405 Radar 705 2016 2024 1,700.00 265.00 1,965.00 265.00 2,230.00 265.00 265.00 265.00 265.00 490-42151-580 PD-1405 Radar 706 2020 2028 265.00 265.00 530.00 265.00 795.00 265.00 265.00 265.00 265.00 490-42151-580 PD-1405 Radar 707 2021 2029 ‐ 265.00 265.00 265.00 530.00 265.00 265.00 265.00 265.00 30,494.63 4,950.00 ‐ ‐ 35,444.63 4,690.00 40,134.63 7,055.00 7,055.00 7,055.00 7,055.00 Police - Automotive 490-42152-580 PD-1406 Squad Video 701 2016 2024 3,755.00 400.00 4,155.00 425.00 4,580.00 425.00 625.00 625.00 625.00 490-42152-580 PD-1406 Squad Video 702 2015 2023 3,700.00 625.00 4,325.00 625.00 4,950.00 625.00 625.00 625.00 625.00 490-42152-580 PD-1406 Squad Video 703 2016 2024 4,100.42 300.00 4,400.42 300.00 4,700.42 300.00 625.00 625.00 625.00 490-42152-580 PD-1406 Squad Video 704 2014 2022 4,650.00 350.00 5,000.00 625.00 5,625.00 625.00 625.00 625.00 625.00 490-42152-580 PD-1406 Squad Video 705 2016 2024 3,085.00 625.00 3,710.00 625.00 4,335.00 625.00 625.00 625.00 625.00 490-42152-580 PD-1406 Squad Video 706 2020 2028 625.00 625.00 1,250.00 625.00 1,875.00 625.00 625.00 625.00 625.00 490-42152-580 PD-1406 Squad Video 707 2021 2029 ‐ 625.00 625.00 625.00 1,250.00 625.00 625.00 625.00 625.00 490-42120-580 PD-1402 Squad Shotguns 701-707 2021 2031 ‐ ‐ ‐ 400.00 400.00 400.00 400.00 400.00 400.00 490-42152-580 PD-2101 Squad Body Camera 701 2022 2027 ‐ ‐ ‐ 200.00 200.00 200.00 200.00 200.00 200.00 490-42152-580 PD-2101 Squad Body Camera 702 2022 2027 ‐ ‐ ‐ 200.00 200.00 200.00 200.00 200.00 200.00 490-42152-580 PD-2101 Squad Body Camera 703 2022 2027 ‐ ‐ ‐ 200.00 200.00 200.00 200.00 200.00 200.00 490-42152-580 PD-2101 Squad Body Camera 704 2022 2027 ‐ ‐ ‐ 200.00 200.00 200.00 200.00 200.00 200.00 490-42152-580 PD-2101 Squad Body Camera 705 2022 2027 ‐ ‐ ‐ 200.00 200.00 200.00 200.00 200.00 200.00 490-42152-580 PD-2101 Squad Body Camera 706 2022 2027 ‐ ‐ ‐ 200.00 200.00 200.00 200.00 200.00 200.00 490-42152-580 PD-2101 Squad Body Camera 707 2022 2027 ‐ ‐ ‐ 200.00 200.00 200.00 200.00 200.00 200.00 490-42152-580 PD-1407 Safety Equip 701 2013 2023 (21.60) 300.00 278.40 300.00 578.40 600.00 600.00 600.00 600.00 490-42152-580 PD-1407 Safety Equip 702 2021 2025 7,140.00 300.00 6,181.96 1,258.04 300.00 1,558.04 300.00 300.00 600.00 600.00 POL-1 490-42152-580 PD-1407 Safety Equip 703 2011 2022 6,305.00 600.00 6,905.00 600.00 7,505.00 600.00 600.00 600.00 600.00 490-42152-580 PD-1407 Safety Equip 704 2014 2023 5,416.92 600.00 6,016.92 600.00 6,616.92 600.00 600.00 600.00 600.00 490-42152-580 PD-1407 Safety Equip 705 2016 2024 5,652.09 600.00 6,252.09 600.00 6,852.09 600.00 600.00 600.00 600.00 490-42152-580 PD-1407 Safety Equip 706 2020 2030 (8.74) 600.00 591.26 600.00 1,191.26 600.00 600.00 600.00 600.00 490-42152-580 PD-1407 Safety Equip 707 2021 2031 268.74 600.00 607.96 260.78 600.00 860.78 600.00 600.00 600.00 600.00 44,667.83 7,150.00 ‐ 6,789.92 45,027.91 9,250.00 54,277.91 9,550.00 10,075.00 10,375.00 10,375.00 Police - Automotive 490-42152-581 PD-1408 Laptops, Squad 2020 2025 1,000.95 1,000.00 2,000.95 1,000.00 3,000.95 1,000.00 1,000.00 1,000.00 1,000.00 1,000.95 1,000.00 ‐ ‐ 2,000.95 1,000.00 3,000.95 1,000.00 1,000.00 1,000.00 1,000.00 Police-Vehicles 490-42152-550 PD-1411 Police Squads various 2022-2026 21,548.10 2,000.00 23,306.97 241.13 10,000.00 10,241.13 12,500.00 12,500.00 15,000.00 15,000.00 21,548.10 2,000.00 ‐ 23,306.97 241.13 10,000.00 10,241.13 12,500.00 12,500.00 15,000.00 15,000.00 Emergency Services 490-42500-580 PD-1409 Sirens 2011 as needed 6,472.61 1,500.00 2,265.00 5,707.61 1,500.00 7,207.61 1,500.00 1,500.00 1,500.00 1,500.00 6,472.61 1,500.00 ‐ 2,265.00 5,707.61 1,500.00 7,207.61 1,500.00 1,500.00 1,500.00 1,500.00 Police - Building 490-42120-520 PW-1904 PW/PD Garage new 2025 ‐ 2,500.00 (2,159.83) ‐ 340.17 2,500.00 2,840.17 2,500.00 2,500.00 ‐ ‐ ‐ 2,500.00 (2,159.83) ‐ 340.17 2,500.00 2,840.17 2,500.00 2,500.00 ‐ ‐ TOTAL POLICE GENERAL CEP 116,371.12 25,750.00 ‐ 38,103.22 104,017.90 47,565.00 151,582.90 45,030.00 45,855.00 46,330.00 46,630.00 2020,2023,2025 Equipment Certificates Police - Automotive new-42152-581 PD-1408 Laptops, Squad 2020 2025 ‐ ‐ ‐ 51,250.00 Police-Vehicles new-42152-550 PD-1411 Police Squads various 2023/2025 ‐ 70,000.00 70,000.00 70,000.00 Police - General new-42120-580 PD-1412 Defibulator 2013 2023 ‐ 4,600.00 4,600.00 ‐ Police - General new-42120-580 PD-2101 Body Cameras new 2025 ‐ ‐ ‐ 12,000.00 Police - General new-42120-580 PD-1410 Surveillance 2022 2028 ‐ 56,500.00 56,500.00 ‐ Police - General 409-42120-580 PD-1410 Surveillance 2022 2028 3,705.37 3,705.37 ‐ 3,705.37 ‐ 3,705.37 3,705.37 131,100.00 134,805.37 133,250.00 Forfeiture and Debt Service Relief Funds Forfeiture Funds 101-42120-436 Various Police Equipment various various 32,233.81 798.60 33,032.41 ‐ 33,032.41 Police-Vehicles 390-42152-550 PD-1411 Police Squads 2022 2024 ‐ 22,500.00 22,500.00 ‐ ‐ ‐ Debt Service Relief Fund 390-42120-300 PD-1410 Annual Surveillance 2022 2027 ‐ 4,500.00 4,500.00 8,000.00 12,500.00 8,000.00 8,000.00 8,000.00 8,000.00 Debt Service Relief Fund 390-42120-580 PD-1410 Surveillance 2022 2028 9,195.00 18,300.00 27,495.00 ‐ 27,495.00 ‐ ‐ ‐ ‐ TOTAL POLICE CEP BALANCE 152,310.30 25,750.00 798.60 38,103.22 140,755.68 178,665.00 319,420.68 179,835.37 45,855.00 212,612.41 46,630.00 POL-1 12/31/2021 as of 6/30 Available Grants/ as of 6/30 2022 Project Project Purchased Replace Reserve Budget Transfers Spent Remaining Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment Year Year Balance 2022 2022 2022 Balance 2023 Balance 2024 2025 2026 2027 Streets ‐101‐43120‐230 PW‐1425 Loader Tire Replacement 2013/2014 2023 10,888.62 1,500.00 12,388.62 1,500.00 13,888.62 1,500.00 1,500.00 1,500.00 1,500.00 10,888.62 1,500.00 ‐ ‐ 12,388.62 1,500.00 13,888.62 1,500.00 1,500.00 1,500.00 1,500.00 Streets ‐ 101‐43120‐300 PW‐1401 Plan Update ‐Pavement Management Plan 2017 2023 5,000.00 2,500.00 ‐ ‐ 7,500.00 2,500.00 10,000.00 2,500.00 2,500.00 2,000.00 2,000.00 101‐43120‐300 PW‐1902 Plan Update ‐ Transportation Plan 2012 2023 3,500.00 2,000.00 ‐ ‐ 5,500.00 2,000.00 7,500.00 2,500.00 2,000.00 2,000.00 2,000.00 8,500.00 4,500.00 ‐ ‐ 13,000.00 4,500.00 17,500.00 5,000.00 4,500.00 4,000.00 4,000.00 Streets ‐101‐43120‐530 PW‐1401 City Seal Coating/Crack Filling annual annual 130,305.21 20,000.00 150,305.21 30,000.00 180,305.21 35,000.00 40,000.00 45,000.00 50,000.00 101‐43120‐530 PW‐1401 City Seal Coating/Crack Filling‐Annexed St.annual annual 64,135.32 10,000.00 74,135.32 10,000.00 84,135.32 10,000.00 10,000.00 10,000.00 10,000.00 101‐43120‐530 PW‐1401 MN Street Turnback ‐ overlay 2012 2022 99,500.00 ‐ 99,500.00 ‐ 99,500.00 ‐ ‐ ‐ ‐ 293,940.53 30,000.00 ‐ ‐ 323,940.53 40,000.00 363,940.53 45,000.00 50,000.00 55,000.00 60,000.00 Streets ‐490‐43120‐580 PW‐1427 Bobcat UTV‐used (1/2 pk/st)2019 2024 2,872.58 1,500.00 ‐ 4,372.58 1,450.00 5,822.58 1,450.00 1,500.00 1,500.00 1,500.00 2,872.58 1,500.00 ‐ ‐ 4,372.58 1,450.00 5,822.58 1,450.00 1,500.00 1,500.00 1,500.00 Streets ‐490‐43120‐550 PW‐1403 Truck (1/4) 2005/2006 2008/2013 2018 2020/2021 2025/2028 2030/2031 9,150.00 500.00 9,650.00 1,500.00 11,150.00 2,000.00 2,500.00 2,500.00 2,500.00 9,150.00 500.00 ‐ ‐ 9,650.00 1,500.00 11,150.00 2,000.00 2,500.00 2,500.00 2,500.00 Streets ‐490‐43120‐582 PW‐1402 Data Base Management on going on going 4,440.00 250.00 ‐ ‐ 4,690.00 250.00 4,940.00 250.00 250.00 250.00 250.00 4,440.00 250.00 ‐ ‐ 4,690.00 250.00 4,940.00 250.00 250.00 250.00 250.00 Snow Removal ‐490‐43125‐580 PW‐1406 Plow Truck‐used 1991/1994 1998/2007 2023/2025 2028/2030 10,812.92 5,500.00 16,312.92 9,500.00 25,812.92 10,000.00 10,000.00 10,000.00 10,000.00 490‐43125‐580 PW‐1409 Skid Steer Loader (1/2)2018/2006 2030/2023 21,757.14 2,000.00 23,757.14 2,000.00 25,757.14 2,500.00 2,500.00 2,500.00 2,500.00 490‐43125‐580 PW‐2003 Snow Hauler 2006 2027 5,000.00 5,000.00 10,000.00 6,000.00 16,000.00 6,500.00 6,750.00 6,750.00 7,000.00 490‐43125‐580 PW‐2002 Sno Go Snow Blower 2002 2025 9,000.00 6,000.00 15,000.00 8,000.00 23,000.00 9,500.00 10,000.00 5,000.00 5,000.00 490‐43125‐580 PW‐1425 Front End Loader (1/2 st/ref,1/4 pk)2002/2014 2023/2030 26,625.00 7,000.00 33,625.00 7,500.00 41,125.00 8,000.00 8,500.00 9,000.00 9,500.00 73,195.06 25,500.00 ‐ ‐ 98,695.06 33,000.00 131,695.06 36,500.00 37,750.00 33,250.00 34,000.00 Street Sweeping ‐490‐43220‐580 PW‐1407 Street Sweeper 1997 2020 2,000.00 3,000.00 ‐ 5,000.00 4,000.00 9,000.00 5,000.00 6,000.00 8,000.00 10,000.00 2,000.00 3,000.00 ‐ ‐ 5,000.00 4,000.00 9,000.00 5,000.00 6,000.00 8,000.00 10,000.00 Maintenance ‐490‐45201‐520 PW‐1904 PW/PW Garage new 2025 5,000.00 2,500.00 7,500.00 2,500.00 10,000.00 2,500.00 2,500.00 ‐ ‐ 490‐45201‐520 PW‐1411 PW Building Expansion/Remodel 2020 n/a 115,442.29 ‐ 115,442.29 ‐ 115,442.29 ‐ ‐ ‐ ‐ 120,442.29 2,500.00 ‐ ‐ 122,942.29 2,500.00 125,442.29 2,500.00 2,500.00 ‐ ‐ Maintenance ‐490‐45201‐580 PW‐1404 Unexpected Breakdowns on going on going 43,562.39 4,000.00 47,562.39 5,000.00 52,562.39 5,000.00 5,000.00 5,000.00 5,000.00 490‐45201‐580 PW‐1413 800 Mhz Radios 2008 on going 3,482.50 250.00 219.00 3,513.50 500.00 4,013.50 500.00 750.00 750.00 750.00 490‐45201‐580 PW‐2101 Tire Station w/Balancer new 2024 2,000.00 ‐ 2,000.00 ‐ 2,000.00 ‐ ‐ ‐ ‐ 490‐45201‐580 PW‐2102 Refrigerant Charger new 2026 ‐ 750.00 750.00 750.00 1,500.00 750.00 750.00 1,000.00 ‐ 490‐45201‐580 PW‐2103 Scissor Truck new 2025 ‐ 750.00 750.00 750.00 1,500.00 750.00 750.00 500.00 500.00 490‐45201‐580 PW‐1415 1585 Lawn Tractor (1/3)2015 2020 500.00 500.00 1,000.00 500.00 1,500.00 1,000.00 1,000.00 1,000.00 1,000.00 49,544.89 6,250.00 ‐ 219.00 55,575.89 7,500.00 63,075.89 8,000.00 8,250.00 8,250.00 7,250.00 2023 Capital Expenditures General Fund Capital Improvement Plan ‐ Public Works Draft as of July 27, 2022 PW-1 12/31/2021 as of 6/30 as of 6/30 2022 Project Project Purchased Replace Avail Reserve Budget Additions Spent Remaining Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment Year Year Balance 2022 2022 2022 Balance 2023 Balance 2024 2025 2026 2027 Parks ‐490‐45202‐530 PW‐1418 Millstream Pond Dredging 2011 2021 5,923.20 1,500.00 7,423.20 1,500.00 8,923.20 1,500.00 1,500.00 2,000.00 2,000.00 490‐45202‐530 PW‐1429 Trail/Parking Lot Maintenance Plan 2014 2020 21,629.50 2,500.00 24,129.50 5,000.00 29,129.50 5,000.00 5,000.00 5,000.00 5,000.00 27,552.70 4,000.00 ‐ ‐ 31,552.70 6,500.00 38,052.70 6,500.00 6,500.00 7,000.00 7,000.00 Parks ‐490‐45202‐550 PW‐1403 Truck (1/4) 2005/2006 2008/2013 2018 2020/2021 2025/2028 2030/2031 9,104.00 500.00 9,604.00 1,500.00 11,104.00 2,000.00 2,500.00 2,500.00 2,500.00 9,104.00 500.00 ‐ ‐ 9,604.00 1,500.00 11,104.00 2,000.00 2,500.00 2,500.00 2,500.00 Parks ‐490‐45202‐580 PW‐1414 Future Improvements on going on going 50,900.39 4,000.00 54,900.39 5,000.00 59,900.39 5,000.00 5,000.00 5,000.00 5,000.00 490‐45202‐580 PW‐1427 Bobcat UTV‐used (1/2 pk/st)2019 2024 2,872.58 1,500.00 4,372.58 1,450.00 5,822.58 1,450.00 1,500.00 1,500.00 1,500.00 490‐45202‐580 PW‐1409 Skid Steer Loader (1/2)2018/2006 2030/2023 19,757.15 2,000.00 21,757.15 2,000.00 23,757.15 2,500.00 2,500.00 2,500.00 2,500.00 490‐45202‐580 PW‐1425 Front End Loader (1/2 st/ref,1/4 pk)2002/2014 2023/2030 13,500.00 3,500.00 17,000.00 4,000.00 21,000.00 5,000.00 5,500.00 6,000.00 6,500.00 490‐45202‐580 PW‐1412 Rough Cut Mower 2010 2022 11,690.00 ‐ 11,690.00 500.00 12,190.00 750.00 1,000.00 1,000.00 1,000.00 490‐45202‐580 PW‐1428 Wing Deck Mower 2018 2025 10,670.00 1,000.00 11,670.00 1,000.00 12,670.00 1,000.00 1,400.00 2,100.00 2,100.00 490‐45202‐580 PW‐1416 Z‐Trak Mower 2019 2026 3,671.74 1,500.00 5,171.74 1,500.00 6,671.74 1,750.00 2,000.00 2,250.00 2,500.00 490‐45202‐580 PW‐2001 5225 John Deere Tractor 2005 2023 1,500.00 2,000.00 3,500.00 11,000.00 14,500.00 1,400.00 1,400.00 1,400.00 1,400.00 490‐45202‐580 PW‐1903 96" Toro Mower new 2020 4,000.00 3,000.00 7,000.00 3,000.00 10,000.00 3,000.00 3,000.00 3,000.00 3,000.00 490‐45202‐580 PW‐1415 1585 Lawn Tractor (2/3)2015 2020 7,373.68 1,500.00 8,873.68 1,500.00 10,373.68 3,000.00 3,000.00 3,000.00 3,000.00 125,935.54 20,000.00 ‐ ‐ 145,935.54 30,950.00 176,885.54 24,850.00 26,300.00 27,750.00 28,500.00 TOTAL PUBLIC WORKS GENERAL CEP 737,566.21 100,000.00 ‐ 219.00 837,347.21 135,150.00 972,497.21 140,550.00 150,050.00 151,500.00 159,000.00 Project Project Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment 2023 Balance 2024 2025 2026 2027 2023/2025 Equipment Certificates Parks/Streets/Refuse ‐new‐45202‐580 PW‐1425 Front End Loader (1/2 st/ref,1/4 pk) 2023 2002 2023 55,000.00 55,000.00 ‐ Parks ‐new‐45202‐580 PW‐1415 1585 Lawn Tractor (2/3)2015 2023 29,000.00 29,000.00 ‐ Parks ‐new‐45202‐580 PW‐1903 96" Toro Mower new 2020 25,000.00 25,000.00 ‐ Parks ‐new‐45202‐580 PW‐2001 5225 John Deere Tractor 2005 2023 8,500.00 8,500.00 ‐ Maintenance ‐new‐45201‐580 PW‐2103 Scissor Truck new 2025 ‐ ‐ 32,500.00 Snow Removal ‐new‐43125‐580 PW‐1406 Used Plow Truck 2023 ,2025 1991 2023 28,000.00 28,000.00 26,000.00 Snow Removal ‐new‐43125‐580 PW‐2002 Sno Go Snow Blower 2002 2025 ‐ ‐ 35,000.00 Parks/Streets ‐new‐45202‐550 PW‐1403 Truck (parks/streets) 2025 2008 2025 ‐ ‐ 28,000.00 Snow Removal ‐new‐43125‐580 PW‐1409 Skid Steer Loader 2023 2006 2023 21,000.00 21,000.00 ‐ Projects Funded by Debt Service/Fund Balance Reserves/MSA Aid/Donations 166,500.00 166,500.00 121,500.00 Refuse Hauler Permits R101‐43120‐32000 PW‐1401 City Seal Coating/Crack Filling annual annual ‐ 7,500.00 6,500.00 6,500.00 6,500.00 13,000.00 6,500.00 6,500.00 6,500.00 6,500.00 Stearns County Aid R101‐43120‐33661 PW‐1401 City Seal Coating/Crack Filling annual annual ‐ 16,000.00 ‐ 16,000.00 16,000.00 16,000.00 16,000.00 16,000.00 16,000.00 MSAS Aid R101‐43120‐33421 PW‐1401 City Seal Coating/Crack Filling annual annual ‐ 85,000.00 48,499.00 48,499.00 95,000.00 143,499.00 95,000.00 95,000.00 95,000.00 95,000.00 Trail Maintenance 390‐45202‐220 PW‐1429 Trail Maintenance/Repairs annual annual 100,000.00 100,000.00 20,000.00 120,000.00 20,000.00 20,000.00 20,000.00 20,000.00 Maintenance ‐390‐45201‐580 PW‐2101 Tire Station w/Balancer new 2024 ‐ ‐ ‐ ‐ 6,000.00 ‐ ‐ ‐ Maintenance ‐390‐45201‐580 PW‐1404 Mechanic Tools on going on going 8,000.00 8,000.00 50,000.00 58,000.00 10,000.00 10,000.00 10,000.00 10,000.00 PW Bld Remodel 390‐45201‐520 PW‐1411 PW Building Expansion Remodel 2021 n/a 100,000.00 ‐ 49,109.85 50,890.15 ‐ 50,890.15 ‐ ‐ ‐ ‐ PW Bld Remodel 390‐45201‐220 PW‐1411 PW Building Roof Replacement 1997 2027 ‐ ‐ ‐ ‐ ‐ ‐ 200,000.00 ‐ ‐ Other Debt 100,000.00 216,500.00 54,999.00 49,109.85 213,889.15 187,500.00 401,389.15 153,500.00 347,500.00 147,500.00 147,500.00 Maintenance ‐new‐45201‐520 PW‐1904 PW/PW Garage new 2025 678,000.00 Total Public Works CEP 489,150.00 1,540,386.36 294,050.00 497,550.00 420,500.00 306,500.00 PW-1 2023 Capital Expenditures Enterprise Capital Improvement Plan ‐ Public Works Draft as of July 27, 2022 12/31/2021 Grants/ as of 6/30 2022 Project Project Purchase Replace Reserve Budget Transfers Spent Available Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment Year Year Balance 2022 2022 2022 Balance 2023 Balance 2024 2025 2026 2027 Water‐601‐49440‐550 PW‐1403 Truck (1/4) 2005/2006 2008/2013 2018 2020/2021 2025/2028 2030/2031 11,517.75 1,000.00 12,517.75 1,500.00 14,017.75 2,000.00 2,500.00 2,500.00 2,500.00 601‐49440‐580 WT‐2103 Utility Locators 2000/2018 2022/2028 ‐ 800.00 2,301.96 (1,501.96) 2,300.00 798.04 2,300.00 2,300.00 2,300.00 2,300.00 601‐49440‐580 WT‐2102 Meter Reading Device/Cellular Meter Read Conversio 2020 2027 ‐ 39,000.00 39,000.00 120,000.00 159,000.00 120,000.00 120,000.00 10,000.00 10,000.00 601‐49440‐581 WT‐2101 Water Dept Computer System 2020 2025 114.15 350.00 464.15 350.00 814.15 350.00 350.00 350.00 350.00 601‐49440‐520 ENG‐1503 Klinefelter Bathrooms new 2022 40,000.00 ‐ 1,200.00 38,800.00 ‐ 38,800.00 ‐ ‐ ‐ ‐ 601‐49440‐300 WT‐1805 Water Supply Plan 2019 2029 11,208.75 5,000.00 16,208.75 5,000.00 21,208.75 5,000.00 5,000.00 5,000.00 5,000.00 601‐49440‐300 WT‐1805 Water Distribution System Model Study 2006 2021 15,000.00 2,500.00 17,500.00 2,500.00 20,000.00 2,500.00 2,500.00 2,500.00 2,500.00 601‐49440‐303 WT‐2001 Risk Assessment/Emergency Response Plan 2020 2021 10,409.29 250.00 200.00 10,459.29 250.00 10,709.29 250.00 250.00 250.00 250.00 601‐49490‐300 WT‐1803 Comprehensive Rate Study 2015 2025 3,000.00 1,000.00 4,000.00 500.00 4,500.00 500.00 500.00 500.00 500.00 601‐49490‐581 WT‐2101 UB Computer System 2020 2025 1,000.00 250.00 1,250.00 500.00 1,750.00 500.00 500.00 350.00 350.00 601‐49434‐303 WT‐1805 Wellhead Protection Plan 2013 2023 10,000.00 8,000.00 4,584.45 13,415.55 10,000.00 23,415.55 5,000.00 5,000.00 5,000.00 5,000.00 601‐49435‐530 WT‐1712 Water Tower Maintenance 2014 2022 50,000.00 20,000.00 70,000.00 25,000.00 95,000.00 25,000.00 25,000.00 25,000.00 25,000.00 601‐49410‐300 WT‐2104 Wells 3‐8 Maintenance on going on going (940.50) 25,000.00 5,485.00 18,574.50 25,000.00 43,574.50 25,000.00 25,000.00 25,000.00 25,000.00 601‐49420‐220 WT‐2105 WTP1 VFD Replacement 2007 2024 ‐ 36,000.00 11,072.25 24,927.75 2,400.00 27,327.75 2,400.00 2,400.00 2,400.00 2,400.00 601‐49420‐580 WT‐2107 WTP 1 Permanent Generator new 2023 ‐ 9,000.00 9,000.00 9,000.00 18,000.00 9,000.00 9,000.00 9,000.00 9,000.00 601‐49420‐580 WT‐1403 WTP 1 Repairs on going on going (7,744.33) 7,500.00 (244.33) 10,000.00 9,755.67 15,000.00 17,500.00 20,000.00 22,000.00 601‐49421‐220 WT‐2105 WTP2 VFD Replacement 2007/2020 2022/2035 ‐ 18,000.00 4,480.39 13,519.61 18,000.00 31,519.61 18,000.00 12,000.00 2,400.00 2,400.00 601‐49421‐580 WT‐2106 WTP2 Air Compressor 2007 2023 ‐ 2,500.00 2,500.00 2,500.00 5,000.00 ‐ ‐ ‐ ‐ 601‐49421‐580 WT‐1403 WTP 2 Repairs on going on going 248.04 30,500.00 30,748.04 33,000.00 63,748.04 38,000.00 40,500.00 42,000.00 44,000.00 143,813.15 206,650.00 ‐ 29,324.05 321,139.10 267,800.00 588,939.10 270,800.00 270,300.00 154,550.00 158,550.00 Sewer‐602‐49450‐550 PW‐1403 Truck (1/4) 2005/2006 2008/2013 2018 2020/2021 2025/2028 2030/2031 10,820.80 1,000.00 11,820.80 1,500.00 13,320.80 2,000.00 2,500.00 2,500.00 2,500.00 602‐49450‐581 WT‐2101 Sewer Dept Computer System 2020 2025 114.15 350.00 464.15 350.00 814.15 350.00 350.00 350.00 350.00 602‐49450‐530 WW‐1401 Sewer Lining on going on going 87,294.19 20,000.00 107,294.19 22,500.00 129,794.19 25,000.00 27,500.00 5,000.00 5,000.00 602‐49450‐520 ENG‐1503 Klinefelter Bathrooms new 2022 10,000.00 ‐ 10,000.00 ‐ 10,000.00 ‐ ‐ ‐ ‐ 602‐49450‐580 WT‐2103 Utility Locators 2000/2018 2022/2028 ‐ 800.00 2,301.97 (1,501.97) 2,300.00 798.03 2,300.00 2,300.00 2,300.00 2,300.00 602‐49450‐580 WW‐1408 Sewer Televising Camera 2021 2028 3,266.54 1,000.00 4,266.54 1,000.00 5,266.54 1,000.00 1,000.00 1,000.00 1,000.00 602‐49450‐580 WW‐2102 Jet Truck and Vac 2005 2030 ‐ 30,000.00 30,000.00 35,000.00 65,000.00 35,000.00 35,000.00 35,000.00 35,000.00 602‐49450‐220 WW‐2102 Jet Truck and Vac Repairs 2005 2022 ‐ 5,400.00 5,400.00 ‐ 5,400.00 ‐ ‐ ‐ ‐ 602‐49450‐300 WW‐1408 Root Foaming on going on going 9,000.00 5,000.00 1,190.00 12,810.00 5,000.00 17,810.00 5,000.00 5,000.00 5,000.00 5,000.00 602‐49450‐300 WW‐1805 Comprehensive Sewer Plan 2008/2009 2023 11,948.15 2,500.00 14,448.15 2,500.00 16,948.15 3,000.00 3,000.00 3,000.00 3,000.00 602‐49490‐300 WW‐1803 Comprehensive Rate Study 2015 2025 3,000.00 1,000.00 4,000.00 500.00 4,500.00 500.00 500.00 500.00 500.00 602‐49490‐581 WT‐2101 UB Computer System 2020 2025 1,000.00 250.00 1,250.00 500.00 1,750.00 500.00 500.00 350.00 350.00 602‐49480‐300 WW‐2101 Tank Removal 1960 2026 ‐ 5,000.00 5,000.00 5,000.00 10,000.00 5,000.00 5,000.00 5,000.00 ‐ 602‐49480‐580 WW‐1402 Sewer Sampler 2016 2021 9,000.00 500.00 9,500.00 500.00 10,000.00 500.00 500.00 500.00 500.00 602‐49480‐580 WW‐1403 Submersible Pumps ‐ Main LS 1987 2022 67,869.73 2,500.00 70,369.73 2,500.00 72,869.73 2,500.00 2,500.00 2,500.00 2,500.00 602‐49470‐530 WW‐1403 Submersible Pumps ‐ Baker St LS 2013 2028 18,400.00 2,500.00 1,119.06 19,780.94 2,500.00 22,280.94 2,500.00 2,500.00 2,500.00 2,500.00 602‐49471‐530 WW‐1403 Submersible Pumps ‐ Ridgewood LS 2019 2039 14,000.00 2,500.00 16,500.00 2,500.00 19,000.00 2,500.00 2,500.00 2,500.00 2,500.00 602‐49472‐530 WW‐1403 Submersible Pumps ‐ Northland LS 1999/2019 2021/2039 9,434.00 2,500.00 11,934.00 2,500.00 14,434.00 2,500.00 2,500.00 2,500.00 2,500.00 602‐49473‐530 WW‐1403 Submersible Pumps ‐ CR121 LS 2019 2039 3,739.00 2,500.00 6,239.00 2,500.00 8,739.00 2,500.00 2,500.00 2,500.00 2,500.00 258,886.56 85,300.00 ‐ 4,611.03 339,575.53 89,150.00 428,725.53 92,650.00 95,650.00 73,000.00 68,000.00 2023 Capital Expenditures Enterprise Capital Improvement Plan ‐ Public Works Draft as of July 27, 2022 12/31/2021 Grants/ as of 6/30 2022 Project Project Purchase Replace Reserve Budget Transfers Spent Available Budget 2023 Budget Budget Budget Budget Department Account Code Number Equipment Year Year Balance 2022 2022 2022 Balance 2023 Balance 2024 2025 2026 2027 Stormwater‐651‐49490‐581 WT‐2101 UB Computer System 2020 2025 14.15 250.00 264.15 500.00 764.15 500.00 500.00 350.00 350.00 651‐49900‐303 SS‐1712 Update MS4 SWPPP/Permit Compliance 2014 2024 14,153.30 3,000.00 390.00 16,763.30 3,000.00 19,763.30 3,000.00 3,000.00 3,000.00 3,000.00 651‐49900‐303 SS‐1805 Pond Maintenance Schedule new 2022 10,902.24 2,000.00 12,902.24 2,000.00 14,902.24 2,000.00 2,000.00 2,000.00 2,000.00 651‐49900‐220 SS‐2101 Outfalls Repairs on going on going ‐ 2,000.00 2,000.00 3,500.00 5,500.00 4,000.00 4,500.00 4,500.00 4,500.00 651‐49900‐300 SS‐1404 Aerial Mapping 2018 2021 1,227.40 250.00 1,477.40 250.00 1,727.40 250.00 250.00 250.00 250.00 651‐49900‐530 SS‐1405 Storm Water Development on going on going 8,221.35 10,000.00 600.50 17,620.85 10,000.00 27,620.85 10,000.00 10,000.00 10,000.00 10,000.00 651‐49900‐580 PW‐1407 Street Sweeper 1997 2020 14,627.50 13,000.00 27,627.50 14,000.00 41,627.50 15,000.00 16,000.00 18,000.00 20,000.00 49,145.94 30,500.00 ‐ 990.50 78,655.44 33,250.00 111,905.44 34,750.00 36,250.00 38,100.00 40,100.00 Refuse‐603‐43230‐581 WT‐2101 UB Computer System 2020 2025 ‐ 250.00 250.00 500.00 750.00 500.00 500.00 350.00 350.00 603‐43230‐510 RF‐2201 Compost Site new 2026 ‐ 5,000.00 5,000.00 10,000.00 15,000.00 10,000.00 15,000.00 20,000.00 25,000.00 603‐43230‐580 PW‐1425 Front End Loader (1/4)2002/2014 2023/2030 14,081.77 3,500.00 17,581.77 4,000.00 21,581.77 4,500.00 5,000.00 5,500.00 5,500.00 14,081.77 8,750.00 ‐ ‐ 22,831.77 14,500.00 37,331.77 15,000.00 20,500.00 25,850.00 30,850.00 St. Lighting‐652‐43160‐387 SL‐2101 Holiday Street Lighting on going on going 6,500.00 2,000.00 318.19 8,181.81 2,000.00 10,181.81 2,000.00 2,000.00 2,000.00 2,000.00 652‐43160‐580 PW‐2103 Scissor Lift (3/4)new 2025 ‐ 750.00 750.00 1,250.00 2,000.00 1,250.00 1,250.00 750.00 750.00 652‐43160‐530 SL‐1410 Street Lighting on going on going 45,407.25 15,000.00 999.28 59,407.97 15,000.00 74,407.97 15,000.00 15,000.00 15,000.00 15,000.00 51,907.25 17,750.00 ‐ 1,317.47 68,339.78 18,250.00 86,589.78 18,250.00 18,250.00 17,750.00 17,750.00 begin complete Projects From St. Cloud Area Wastewater Advisory Committee:Year Year ‐ ‐ Sewer‐602‐49480‐418 n/a Treatment Train #5 ‐ St. Cloud $7M 2025 2027 ‐ ‐ ‐ ‐ ‐ ‐ 19,125.00 76,500.00 76,500.00 602‐49480‐418 n/a Tertiary Treatment ‐ St. Cloud $5M 2025 2027 ‐ ‐ ‐ ‐ ‐ ‐ 19,125.00 38,250.00 38,250.00 602‐49480‐418 n/a Digester Cover Replacement ‐ St. Cloud $3M 2022 2023 ‐ 76,500.00 76,500.00 153,000.00 229,500.00 ‐ ‐ ‐ ‐ 602‐49480‐418 n/a Forcemain #3 & Main Lift Phase 2 ‐ St. Cloud $18M 2028 2030 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 75,000.00 ‐ 76,500.00 ‐ ‐ 76,500.00 153,000.00 229,500.00 ‐ 38,250.00 114,750.00 189,750.00 Projects FromDebt Service Relief Fund 390/ARPA Year Year ‐ ‐ Water‐104‐43120‐580 WT‐2102 Cellular Meter Read Conversion 2020 2027 ‐ 40,000.00 40,000.00 ‐ 40,000.00 ‐ ‐ ‐ ‐ City of St. Joseph Park Board 2023 Capital Improvement Budget Summary Draft as of July 25, 2022 General Funds Balance Park Dedication Cash June 30, 2022 256,259$ (Unaudited, cash balance) Adjustments Starting Balance 256,259$ 2022 General Levy-remaining 18,832$ Other Revenues-remaining 33,075$ Potential Projects:Potential Proposed Millstream Cottages-phase 2 23,400$ Sunset Ridge-phase 2 - 4 lots 2,000$ Ending Balance for 2022 308,166$ Projects - Budget PY Balance 2023 2024 2025 2026 2027 Total 23-27 PTR-01 (Millstream) 7,000$ 8,000$ -$ -$ -$ 701,000$ 709,000$ PTR-02 (Northland) -$ -$ -$ -$ -$ -$ -$ PTR-03 (Klinefelter) 171,000$ -$ -$ -$ -$ 75,000$ 75,000$ PTR-04 (Wobegon) -$ -$ -$ -$ -$ -$ -$ PTR-05 (Memorial) -$ -$ -$ -$ -$ -$ -$ PTR-06 (Centennial) -$ 22,000$ -$ -$ 55,000$ -$ 77,000$ PTR-07 (Monument) -$ -$ -$ -$ -$ -$ -$ PTR-08 (Hollow) -$ -$ -$ 49,500$ -$ -$ 49,500$ PTR-09 (Cloverdale) -$ -$ -$ -$ -$ -$ -$ PTR-10 (East Park) 22,680$ 585,000$ -$ -$ -$ 1,030,000$ 1,615,000$ PTR-14 (Dog Park) 2,929$ 3,000$ -$ -$ -$ 10,000$ 13,000$ PTR-15 (Skate Park) -$ -$ 300,000$ -$ -$ -$ 300,000$ Total 203,609$ 618,000$ 300,000$ 49,500$ 55,000$ 1,816,000$ 2,838,500$ Projects - Actual Spent 2021 Spent 2022 PTR-01 (Millstream) 5,715$ 5,715$ shelter floor coating Other 23 Expenses Budget:2022 YTD PTR-02 (Northland) -$ -$ 1,464$ PTR-03 (Klinefelter) -$ -$ PTR-04 (Wobegon) -$ -$ 2023 Revenue Budget:2022 YTD PTR-05 (Memorial) -$ -$ Interest 1,000$ (8,561)$ PTR-06 (Centennial) -$ -$ Round Up 150$ 66$ PTR-07 (Monument) -$ -$ GF Levy 30,000$ 11,168$ PTR-08 (Hollow) -$ -$ Transfer -$ -$ PTR-09 (Cloverdale) -$ -$ Donations 100$ 2$ PTR-10 (East Park) -$ 510$ design, phase 1, plantings Park Dedic. 4,500$ -$ PTR-14 (Dog Park) 476$ -$ extend water line to dog park PTR-15 (Skate Park) -$ -$ 2016-2022 Total 6,191$ 6,225$ pavers/treats 1,149$ cash -$ 5,997$ thru 6/30/22 PARK-1 23 Dog Park Donation Budget: PARK-1 2025 Equipment Certificate Budgeted Equip Prior Equipment Equipment Certificate History Cost Funds Certificate 2025 380,000$ AD-1406 Computer Replacement 110,000.00 10,000.00 100,000.00 2020 220,000$ PD-1408 Squad Laptops 56,250.00 5,000.00 51,250.00 2015 165,000$ PD-1410 Body Cameras 12,000.00 ‐ 12,000.00 2010 150,000$ decrease due to Great Recession/LGA cuts PD-1411 Police Squads 90,000.00 20,000.00 70,000.00 2006 250,000$ PW-2103 Scissor Lift 40,000.00 7,500.00 32,500.00 2002 245,000$ PW-1415 Sno Go Snow Blower 80,000.00 45,000.00 35,000.00 PW-1406 Plow Truck, used 61,000.00 27,000.00 34,000.00 PW-1403 Utility Truck 50,000.00 22,000.00 28,000.00 Admin 100,000 28% 499,250.00 136,500.00 362,750.00 Police 133,250 37% estimated debt issuance costs 17,250.00 Public Works 129,500 36% debt issue par value 380,000.00 362,750$ 100% 2023 Equipment Certificate Budgeted Equip Prior Equipment Equipment Certificate History Cost Funds Certificate 2023 385,000$ AD-1502 Scanners 18,500.00 ‐ 18,500.00 2018 265,000$ AD-1411 Mailing System 8,500.00 7,375.00 1,125.00 2013 265,000$ decrease due to Great Recession/LGA cuts AD-1406 Computer Replacement 65,000.00 15,000.00 50,000.00 2008 290,000$ PD-1412 Defibulators 7,000.00 2,400.00 4,600.00 2004 280,000$ PD-1410 Surveillance System 87,700.00 31,200.00 56,500.00 PD-1411 Police Squads 90,000.00 20,000.00 70,000.00 PW-1415 1585 Lawn Tractor 45,000.00 16,000.00 29,000.00 PW-1425 Front End Loader 250,315.00 195,315.00 55,000.00 PW-2001 5225 JD Tractor #10 20,000.00 11,500.00 8,500.00 Admin 69,625 19% PW-1903 96" Toro Mower 35,000.00 10,000.00 25,000.00 Police 131,100 36% PW-1406 Plow Truck, used 61,000.00 33,000.00 28,000.00 Public Works 166,500 45% PW-1409 Skid Steer Loader 80,000.00 59,000.00 21,000.00 367,225$ 100% 768,015.00 400,790.00 367,225.00 estimated debt issuance costs 17,775.00 debt issue par value 385,000.00 City of St. Joseph Projects to be funded with Fund 390 As of June 30, 2022 Beginning Fund Balance 1‐1‐22 989,294.22$ 766,515.21$ 869,265.21$ 857,965.21$ 820,965.21$ 983,965.21$ Budget YTD Rev Budget Budget Budget Budget Budget Customer <=2022 2022 2023 2024 2025 2026 2027 Interest Earnings ‐$ (7,027.82)$ ‐$ ‐$ ‐$ ‐$ ‐$ LGA 160,000.00 ‐ 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 Special Assessments 1,000.00 53.37 500.00 1,000.00 1,000.00 1,000.00 1,000.00 Property Taxes ‐ 5.29 250.00 ‐ ‐ ‐ ‐ Contributions ‐ ‐ ‐ ‐ ‐ ‐ ‐ Federal Grant ‐ ‐ ‐ ‐ ‐ ‐ ‐ Transfers ‐ ‐ ‐ ‐ ‐ ‐ ‐ 803,333.72$ 803,333.72$ 161,000.00$ (6,969.16) 200,750.00$ 201,000.00$ 201,000.00$ 201,000.00$ 201,000.00$ Budget YTD Exp Budget Budget Budget Budget Budget Budget Spent Budget Budget Vendor <=2022 2022 2023 2024 2025 2026 2027 2021/2022 2021/2022 2023 2024 Finance Software replacement ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ 50,630.00 50,630.00 104‐41530‐582 Technology Equip Add/updates ‐ ‐ ‐ ‐ ‐ ‐ ‐ 42,554.82 3,147.21 104‐41941‐580, 104‐45201‐580, 104‐42220‐580 Fire Rescue Van ‐ ‐ ‐ ‐ ‐ ‐ ‐ 157,975.00 63,190.00 104‐42220‐580 Main Server Replacement ‐ ‐ ‐ ‐ ‐ ‐ ‐ 100,000.00 86,742.39 104‐41430‐581 Cellular Meter Read Heads ‐ ‐ ‐ ‐ ‐ ‐ ‐ 40,000.00 104‐43120‐580 Klinefelter Park 300,000.00 ‐ ‐ ‐ ‐ ‐ ‐ Walking Trail Repairs 100,000.00 ‐ 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 Welcome Signs ‐ ‐ ‐ 110,000.00 ‐ ‐ ‐ Security Cameras 9,195.00 ‐ ‐ ‐ ‐ ‐ ‐ 18,300.00 90,880.00 ‐ 104‐42120‐580 Annual Camera Subscription 4,500.00 ‐ 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 Police Squad 22,500.00 22,500.00 ‐ ‐ ‐ ‐ ‐ Comp Study/Job Classification 10,000.00 4,200.00 ‐ ‐ ‐ ‐ 15,000.00 Skate Park ‐ ‐ ‐ 58,300.00 ‐ ‐ ‐ Community Center Fundraiser 400,000.00 140,000.00 ***20,000.00 ‐ ‐ ‐ ‐ Tire Station w/Balancer ‐ ‐ ‐ 6,000.00 ‐ ‐ ‐ Mechanic Tools 8,000.00 ‐ 50,000.00 10,000.00 10,000.00 10,000.00 10,000.00 PW Building Remodel 100,000.00 49,109.85 ‐ ‐ ‐ ‐ ‐ PW Roof Replacement ‐ ‐ ‐ ‐ 200,000.00 ‐ ‐ Fire Study 10,000.00 ‐ ‐ ‐ ‐ ‐ ‐ Birch St Redevelopment Plan ‐ ‐ ‐ ‐ ‐ ‐ 5,000.00 964,195.00$ 215,809.85$ 98,000.00$ 212,300.00$ 238,000.00$ 38,000.00$ 58,000.00$ 409,459.82$ 153,079.60$ 141,510.00$ ‐$ Ending Cash Balance 6‐30‐22 186,099.22$ 766,515.21$ 869,265.21$ 857,965.21$ 820,965.21$ 983,965.21$ 1,126,965.21$ 393,873.90$ 650,254.12$ 252,363.90$ 252,363.90$ ***will be reimbursed through capital campaign As of June 30, 2022 ARPA Funding City of St. Joseph, Minnesota Debt Levy Summary For the Year Payable 2023 TAGS 8402,8403 2023 Levy Sum Fund Project Name Debt Levy Year by Year 345 2010B GO Improvement Bonds $790K 15,000.00 10 15,000.00 351 2015A GO Improvement Bonds $595K 35,000.00 15 35,000.00 301 2016A GO Capital Improvement Bonds $4.335M 150,000.00 304 2016B GO Improvement Bonds $740K 5,000.00 16 155,000.00 305 2017B GO Improvement Bonds $378K 25,000.00 17 25,000.00 306 2018A GO Equipment Certificates $265K 55,500.00 18 55,500.00 307 2019A GO Improvement Bonds $1.535M 125,000.00 19 125,000.00 309 2020A GO Equipment Certificates $220K 45,000.00 313 2020B GO Refunding Bonds $190K 35,000.00 314 2020C GO CO Refunding Bonds $1.365M 120,000.00 310 2020B GO Improvement Bonds $625K 50,000.00 312 2020B GO CIP Bonds $690K 65,000.00 20 315,000.00 311 2021A GO Improvement Bonds $3.190M 190,000.00 21 190,000.00 315 2022A GO Improvement Bonds $510K 65,000.00 316 2022A GO Equipment Certificates $715K 58,000.00 302 2022A GO Tax Abatement Bonds $6.125M 470,000.00 22 593,000.00 1,508,500.00 1,508,500.00 w/o 22A abatement bonds (sales tax proceeds) 1,038,500.00 2022 Debt Levy 857,500.00 increase 651,000.00 w/o 22A abatement bonds (sales tax proceeds) 181,000.00 Misc:25 Council Agenda Item 9 MEETING DATE: August 1, 2022 AGENDA ITEM: Downtown Two-Hour Parking SUBMITTED BY: Administration BOARD/COMMISSION/COMMITTEE RECOMMENDATION: PREVIOUS COUNCIL ACTION: The City Council discussed adding two-hour parking on College Ave. N at their work session on June 28, 2022. The Council tabled the item at their meeting on July 18, 2022. BACKGROUND INFORMATION: The Mayor had received comments from businesses regarding adding two-hour parking to certain areas of downtown. Currently, there is two-hour parking in downtown on portions of MN Street. Subsequently, the council discussed the item briefly at their work session on July 18, 2022 and asked to discuss again at a future regular city council meeting. BUDGET/FISCAL IMPACT: TBD ATTACHMENTS: REQUESTED COUNCIL ACTION: Discuss and provide direction.