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<br />Under State law street reconstruction bonds can be issued without election provided the <br />following requirements are met: <br /> <br />a) The City must prepare a 5 year street reconstruction plan <br />b) The City must hold a public hearing <br />c) The City Council must approve the plan by unanimous vote. <br />d) A 30 day period must elapse during which time a petition may be submitted <br />requesting an election. The petition must be signed by voters equal to 5% of the <br />votes cast in the last municipal general election. <br />e) If no petition is received the city may issue bonds without election. <br /> <br />The draft 2017-2021 Five Year Street Reconstruction Plan has been prepared. The public <br />hearing has been set for the June 12, 2017 City Council meeting. This will allow for the reverse <br />petition process and possible ballot question submittal to Anoka County. If a petition is received <br />a ballot question will be prepared for consideration by the voters in the 2017 municipal election. <br />If no petition is received the council may authorize preparation of plans as specifications for the <br />project. <br /> <br />City Council consideration at the public hearing will be to approve the 5 year Street <br />Reconstruction Plan and authorize the issuance of Street Reconstruction Bonds for the 2018 <br />improvements. Staff would like to emphasis the following points: <br /> <br />• The 2021 project will be subject to future council consideration and action. <br />• Approval of the plan and bond authorization does not obligate the City to construct a <br />project or issue bonds. <br />• The amount of bonds authorized under the plan represents a maximum amount. <br />• The actual amount of bonds issued will be subject to council approval once a final project <br />cost is determined following plan design and bidding process. <br />• The plan allows for the bonding for the West Shadow and LaMotte Improvements to <br />occur anytime during the 2017 – 2021 Five-Year Street Reconstruction Plan. <br /> <br />Requested Council Direction <br /> <br />None required. The public hearing has been scheduled for June 12, 2017. <br /> <br />Attachments <br /> <br />1. Draft 2017-2021 5 year Street Reconstruction Plan