08-04-14 Council Packet - Laserfiche WebLink

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which street reconstruction bonds are anticipated to be issued are marked with an asterisk in Appendix A and are currently anticipated to include the following: 2015 Street Reconstruction Bond Financed Expenditures — The 2015 Street Reconstruction Project includes the reconstruction of the following streets; Hokah Drive, Rice Court, Totem Trail, Arrowhead Drive, Tomahawk Trail, Tomahawk Court, Chippewa Trail, and Arrowhead Court, by replacement of curb and gutter as needed, required upgrades of the existing stormwater management system and bituminous surfacing. General obligation street reconstruction bonds are proposed to be issued in 2015 in an aggregate principal amount of approximately $3,150,000 for the costs of the Shenandoah Area Improvements and the costs of issuing the bonds. Such bonds may be combined with other financing tools, including general obligation improvement bonds, to finance other capital improvements in the City. Street reconstruction bonds are included in the amount of indebtedness of the City which cannot, under Minnesota Statutes, Section 475.53, exceed 3% of the assessor's taxable market value for the City ( "TMV "). The proposed bonds will not exceed statutory limits. All other foreseeable capital expenditures are expected to be financed through other revenue or financing sources. 2019 Street Reconstruction Project The 2019 Street Reconstruction Project includes the reconstruction of the following streets; West Shadow Lake Drive, Sandpiper Drive, Shadow Court, LaMotte Drive, and LaMotte Circle which may include required upgrades of existing stormwater management system and bituminous surfacing. No bonds are being contemplated for this project at the present time. 6/23/2014