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<br />Total cost to Lino Lakes:
<br />$525,000.00
<br />255,000.00
<br />286,000.00
<br />$1066,000.00
<br />Estimated Assessable Frontage per Mile
<br />Total Assessable frontage - 9,600 x 5.75
<br />Assume lateral cost
<br />Assessed valuation
<br />t $8.00 per front foot
<br />= $1,194,000.00 (Anoka
<br />$626,000.00 @ 30 yrs. =
<br />Avg. interest @ 7% =
<br />Total annual
<br />BASED
<br />M$00/00000/000g% ON POPULATION PROJECTION:
<br />Year 1967 1
<br />Pop. 3,239 13,
<br />Recs 800 4,
<br />1/2 Recs 400 2,
<br />Assume each rec = $
<br />40,000.00 220,
<br />This would leave balance to be raised by taxes
<br />Average
<br />1967 - 11.7 mils 1985
<br />METRO COUNCIL REPORT ON POPULATION PROJECTION:
<br />Year
<br />Pop.
<br />Assess /Valuation
<br />Mil Levy
<br />1967
<br />3,239
<br />1,200,000.00
<br />35.6
<br />213
<br />9,600
<br />= 55,000
<br />- 55,000 x 8.00 = $440,000.00
<br />County Auditor) - 1 mill = $1,200.00
<br />$20,866.00 per year - principal
<br />21,900.00 per year
<br />$42;766.00 = 35.6 mils
<br />985 2000
<br />353 33,469
<br />400 8,400
<br />2000 4,200
<br />100.00
<br />000.00 420,000.00
<br />of $206,000.00 @ 30 years
<br />interest @ 7%
<br />= 3.9 mils 2000 - 1/55
<br />1985 2000
<br />13,353 33,469
<br />3,600,000.00 9,000,000.00
<br />11.9 4.8
<br />Sat.
<br />236,544
<br />59,000
<br />29,500
<br />2,950,000.00
<br />= $6,866.00/yr.
<br />7,200.00
<br />$14,066.00/yr.
<br />mils
<br />Sat.
<br />236,544
<br />54,000,000.00
<br />Formula 2 - Bal. to be financed = $626,000.00.
<br />Mr. Carley also stated that under another formula, the sewer cost would average
<br />some $37.00 per acre for that area. He also mentioned the methods used by other
<br />municipalities to finance their systems.
<br />BASED ON POPULATION PROJECTION:
<br />Year
<br />Pop.
<br />Rees
<br />1/2 Recs
<br />1967 1985 2000
<br />3,239 13,353 33,469
<br />800 4,400 8,400
<br />400 2,200 4,200
<br />Assume each Rec = $100.00
<br />40,000.00 220,000.00 420,000.00
<br />This would leave balance to be raised by taxes of $206,000.00 30 yrs.
<br />Average Interest Q 7%
<br />1967 = 11.7 mils
<br />1985 = 3.9 mils 2000
<br />Sat.
<br />236,544
<br />59,000
<br />29,500
<br />2,950,000.00
<br />$6,866.00/yr.
<br />7,200.00
<br />$14,066.00/yr.
<br />= 1.55 mils
<br />It was stated that if the lines were to stop at Reshenau Lake there would be a slim
<br />chance of getting a Federal grant; also there would be an additional $339,000 for
<br />Lino to pay as we wouldn't get their percentage of the share. Also, the Metro
<br />Council had the final say as far as sizing of the pipes go before permission is
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