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• <br />Draft Draft Draft <br />1. General Obligation Street Reconstruction Bonds authorized under <br />Minnesota Statutes Chapter 475 for reconstruction projects where the <br />existing street width is adequate and /or where no additional <br />improvements, such as curb and gutter, are needed. <br />2. General Obligation Improvement Bonds authorized under Minnesota <br />Statutes Chapter 429 for reconstruction projects where the existing street <br />width is not adequate and/or where additional improvements, such as curb <br />and gutter, are needed and at least 20% of the project cost is to be <br />assessed. <br />3. General Obligation Bonds authorized under Minnesota Statutes Chapter <br />475 for reconstruction projects where the existing street width is not <br />adequate and/or where additional improvements, such as curb and gutter, <br />are needed and less than 20% of the project cost will be assessed. <br />Street reconstruction projects financed through these means will be funded from <br />special assessments to benefited properties, proceeds fro torm water utility, <br />and city tax levies and other sources. <br />11011/t4 <br />C. Municipal State Aid Streets. <br />1. MSA funds or bonds will be used to finance reconstruction of streets <br />• designated as part of the City's MSA system. <br />• <br />2. Properties benefiting from these projects will specially assessed according <br />to the same formula used for benefited properties on local streets. <br />3. Other financing sources, including but not limited to, proceeds from the <br />storm water utility and city tax levies may also be used. <br />VI. STORM WATER UTILTY <br />The City Council shall establish and maintain a storm water utility as authorized under <br />Minnesota Statutes Chapter 444, for the purpose of financing those costs of the PMP <br />related to storm water improvements, and for maintaining the storm water management <br />system. <br />VII. ASSESSMENTS <br />A. The following is the general Street Reconstruction Policy for special assessments <br />to benefiting property. <br />1. It is the policy of the City to special assess abutting benefiting property for <br />street reconstruction costs, but not in excess of the special benefit to the <br />Pavement Management Policy 3 04/04/05 <br />