2007-139 Council Resolution - Laserfiche WebLink

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• • — Program on Channel 16 describing project and need for improvements. Staff will work with the cable channel to ensure the program is run multiple times leading up to the election. — Hold two informational meetings for the 2009 Street Reconstruction Project in late October 2007, meetings with City staff, City engineer, and financial consultants. Informational Meeting will be advertised in informational brochure and Quad Press. — Project information posted on City web -site. Attached is Resolution No 07 -139 calling for the election and approving the question to be voted on. In general the question requests authorization to allow the City to undertake the street reconstruction project and to pay 51.5% of the cost from special assessments and 48.5% from a property tax levy. Springsted Financial is calculating two numbers on the first page of attached Exhibit A shown as $xxx,xxx and .xxx %. Theses numbers represent the amount of taxes that would be raised in the first year of the property tax levy to pay a portion of the cost of the 2009 Street Reconstruction Project, and a percentage showing the maximum amount of increased levy of the taxable market value of property in the city. These numbers will be presented at the September 10, 2007 City Council Meeting. The proposed resolution and ballot question has been reviewed by the City's Bond Counsel, Kennedy & Graven. RECOMMENDATION: Staff is recommending adoption of Resolution No. 07 -139.