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<br />____________________________ <br />* Preliminary; subject to change. <br /> TABLE OF CONTENTS <br /> <br /> <br />Page(s) <br /> <br />Terms of Proposal: <br />$1,420,000* General Obligation Water Utility Revenue Bonds, Series 2016A ........................... i-v <br />$1,980,000* Taxable General Obligation Improvement Refunding Bonds, Series 2016B .......... vi-x <br />$1,600,000* General Obligation Tax Abatement Refunding Bonds, Series 2016C ..................... xi-xv <br /> <br />Introductory Statement ....................................................................................................................... 1 <br />Continuing Disclosure ....................................................................................................................... 1 <br />The Bonds .......................................................................................................................................... 2 <br />The Series 2016A Bonds ................................................................................................................... 5 <br />The Series 2016B Bonds .................................................................................................................... 5 <br />The Series 2016C Bonds .................................................................................................................... 6 <br />Future Financing ................................................................................................................................ 7 <br />Litigation ............................................................................................................................................ 7 <br />Legality .............................................................................................................................................. 7 <br />Tax Exemption – Series 2016A Bonds .............................................................................................. 8 <br />Tax Exemption – Series 2016C Bonds .............................................................................................. 8 <br />Related Tax Considerations - Series 2016A Bonds and Series 2016C Bonds ................................... 9 <br />Bank-Qualified Tax-Exempt Obligations – Series 2016A Bonds and Series 2016C Bonds ............. 10 <br />Taxability of Interest – Series 2016B Bonds ..................................................................................... 11 <br />Ratings ............................................................................................................................................... 11 <br />Municipal Advisor ............................................................................................................................. 11 <br />Certification ....................................................................................................................................... 11 <br />City Property Values .......................................................................................................................... 12 <br />City Indebtedness ............................................................................................................................... 13 <br />City Tax Rates, Levies and Collections ............................................................................................. 19 <br />Funds on Hand ................................................................................................................................... 20 <br />Investments ........................................................................................................................................ 20 <br />General Information Concerning the City ......................................................................................... 21 <br />Governmental Organization and Services .......................................................................................... 26 <br /> <br />Proposed Forms of Legal Opinions ........................................................................................ Appendix I <br />Continuing Disclosure Certificate ............................................................................................ Appendix II <br />Summary of Tax Levies, Payment Provisions, and <br /> Minnesota Real Property Valuation ..................................................................................... Appendix III <br />Excerpt of 2015 Comprehensive Annual Financial Report .................................................... Appendix IV <br /> <br />