Laserfiche WebLink
•wr <br />• <br />RESOLUTION # 84-4 <br />RESOLUTION ESTABLISHING A POLICY FOR MUNICIPAL COSTS RELATING <br />TO BONDED LOCAL IMPROVEMENTS FOR PRIVATE DEVELOPERS. <br />WHEREAS, <br />in response to DeLaHunt Voto & Co., Ltd's management <br />Report and Recommendations stating the need for a <br />policy to recoup municipal costs on improvement <br />projects, it is recommended that the City of Lino <br />Lakes should adopt such a policy as it relates to <br />municipal costs for public improvement projects <br />requested by developers for bonding, and <br />WHEREAS, these municipal costs would include the following: <br />1. <br />• <br />Negotiating financing <br />• <br />Preparation of official statements <br />Management and annual review of assessment <br />records, and <br />the City would apply a percentage against the total <br />project cost and the total amount of reimburseable <br />funds for each project will be distributed annually <br />based on the length of the bond debt, <br />NOW ',THEREFORE,;4BEIT.RESOLVED, that: <br />The Lino Lakes City Council hereby adopts the following step <br />down approach recommended for use on. improvement projects: <br />Project Cost % applied by City <br />$1.00 - 10,000.00 5% <br />over 10,000.00 - 50,000.00 <br />4% <br />over 50,000.00 - 100,000.00 3% <br />over 100,000.00 2% <br />Passed by the Lino Lakes City Council this (s - day <br />of ...1..Pda-L.t.h...1 , 1984. <br />ATTEST: <br />iz4.- • <br />Li <br />• <br />(., .1.qq 0 <br />on Mayor omm <br />ommou, <br />Edna L. Sarner, Clerk <br />itOORT: <br />,L:uac <br />