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2_DRAFT_Lino_Lakes_2024-2028_Street_Reconstruction_Plan_2023v1 4/26/2023 <br /> <br />will need drainage issues corrected. The road reconstruction project will include reconstructing the <br />street to meet the City’s standard road requirements, improvement of the drainage system to keep <br />stormwater from compromising the new roadway, meeting the City and Rice Creek Watershed <br />District’s rate control and water quality treatment requirements related to the construction of the <br />new roadway. <br /> <br />Diane Street and Evergreen Improvements <br />The pavement of streets within Diane and Evergreen are also in very poor condition. The road <br />reconstruction project will include a bituminous overlay of the existing roadbed. <br /> <br />Street reconstruction bonds are included in the amount of indebtedness of the City which cannot, <br />under Minnesota Statutes, Section 475.53, exceed 3% of the assessor’s taxable market value for the <br />City (“TMV”). The proposed bonds will not exceed statutory limits. <br /> <br />All other foreseeable capital expenditures are expected to be financed through other revenue or <br />financing sources. <br /> <br />2027 Street Reconstruction Project <br /> <br />The 2027 Street Reconstruction Project includes the reconstruction of the following streets; Lakeview <br />Drive from Elm Street to Glenview Drive, Fairmont Drive (from Sunrise Ave. to Sunset Avenue and <br />Gladstone Drive from Sunrise Ave. to Sunset Ave., by required upgrades of the existing stormwater <br />management system and bituminous surfacing. <br /> <br />No bonds are being contemplated for this project at the present time.