12-21-1994 Council Agenda - Laserfiche WebLink

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OVERVIEW This report describes the proposed plan for the City of Little Canada to issue the $565,000 General Obligation Permanent Improvement Revolving Fund Bonds, Series 1995A. This report has been prepared by Ehlers and Associates, in consultation with City Staff and bond counsel. This report deals with: Purpose and components of bond issue. • Structure. • Other considerations in issuing bonds. • Creating a permanent improvement revolving fund. • Market conditions. • Issuing process. PURPOSE The City's 1995 Budget contains projected infrastructure projects. Projects totalling $1,254,000 are planned for 1995. The projected portion of project costs to be financed through special assessments equals $540,900 (see Table 1). The proposed bond issue would finance the assessable project costs. Project l Total Assess Cg Jackson/01dC/Lakeshore Street $488,500 $213,000 $275,500 Jackson Street Trail Trail 27,900 0 27,900 County Rd. C Path Trail 32,500 0 32,500 Lake Street Street , 87,500 48,700 38,800 County Drive Repair /Overlay Street 58,300 0 58,300 Diana Lane Retaining Wall Street 25,000 0 25,000 Keller Parkway Watermain Watermain 321,800 180,400 141,400 Keller Parkway Shoulder Paving Trail 15,000 6,000 9,000 Viking Dr. Watermain (Edgerton - East End) Watermain 91,000 39,600 51,400 Viking Dr, (Edgerton - East End) Street 42,000 21,000 21,000 Gilanderi Lane (w/ street restoration) Watermain 64,500 32,200 32,300 TOTAL $1,254,000 $540,900 $713,100 Table 1 1995 Infrastructure Improvements Page 1 Page 75