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515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: September 8, 1995 <br />RE: Tri- Magnet School Water Connection Agreement <br />MAYOR <br />Michael 1. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R Hanson <br />Please find attached the proposed agreement between the City of <br />Little Canada and the Joint Powers District #6067 (Tri - Magnet <br />School) for connection to the City's water system. This school <br />will be located in the City of Maplewood east of the Cub Foods <br />site. <br />As you will note, the connection fee generated by this project is <br />$95,033. At the School District's request, we have set a payment <br />schedule at a maximum term of 15 years with interest to accrue at <br />the rate of 7% per annum. This will allow the School District to <br />better accommodate this cost in their financing program. <br />Reviews have been conducted by the City Attorney and officials of <br />Joint Powers District #6067. Based on their comments, I believe <br />the document is very near final form and I would recommend it for <br />adoption. <br />JRH:kpv <br />Enclosure <br />Page 137 <br />