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Cost Item A oun <br />Land Acquisition and Site fl velopment $y51,000 <br />Construction Contracts __.1,t nn, non <br />Equipment Acquisition and Installation <br />Architectural and Engineering Fees 12,000 <br />Legal Fees 11000 <br />Interest during Construction 28,000 <br />Initial Bond Reserve <br />Contingencies 25,000 <br />Bond Discount 20,000 <br />Other <br />It is presently estimated that construction will begin on or about <br />JULY 1 , 1974, and will be completed on or about JANUARY 1 1980: <br />When completed, there will be approximately 3 _ new jobs created by the <br />project at an annual payroll of approximately $40,000 based upon current- <br />ly prevailing wages. <br />The tentative term of the financing is 20 years, couunencingJULY 1 • <br />1979. <br />The following exhibits are furnished with this application and are in- <br />corporated herein by reference: <br />1. An opinion of bond counsel that the proposal constitutes a project <br />under Minnesota Stat., Chapter 474.02. <br />2. A copy of the city council resolution giving preliminary approval for <br />the issuance of its revenue bonds. <br />3. A comprehensive statement by the municipality indicating how the pro- <br />ject satisfies the public purpose of Minnesota Stat., Chapter 474.01. <br />4. A letter of intent to purchase the bond issue or a letter confirming <br />the feasibility of the project from a financial standpoint. <br />We, the undersigned, are duly elected representatives of LITTLE CANADA , <br />Minnesota, and solicit your approval of this project at your earliest con- <br />venience so that we may carry it to a final conclusion. <br />Signed by: (Principal Officers) <br />This approval shall not be deemed to be an approval by the Commissioner <br />or the state of the feasibility of the project or the terms of the lease <br />to be executed or the bonds to be issued therefor. <br />Date of Approval <br />-2- <br />Commissioner of Securities <br />Minnesota Department of. Cou❑uerce <br />