HomeMy WebLinkAbout05/10/2010 Council PacketCouncil Agenda EXPANDED AGENDA
May 10, 2010
CITY COUNCIL AGENDA
Monday, May 10, 2010
xxxxxxxxxxx
6:30 p.m.
(Scheduled to be broadcast on Channel 16)
City Council: Mayor Reinert, Council Members O'Donnell, Gallup, Roeser, & Rafferty
Acting City Administrator: Dan Tesch
➢ Call to Order — 6:30 p.m.
➢ Roll Call - Council Members Gallup, O'Donnell, Rafferty, Roeser & Mayor Reinert
➢ Pledge of Allegiance
➢ Open Mike / Public Comment - None
D. Setting the Agenda: Addition or deletion of agenda items
No changes to agenda
CONSENT AGENDA
A) Consideration of Expenditures:
i) May 10, 2010 (Check No. 88165 through
88243) in the amount of $190,395.97;
ii) Centennial Fire District (Check No. 4273 through
4287) in the amount of $26,453.12
B) Consider approval of April 26, 2010 Work Session Minutes Pg 20
C) Consider approval of April 26, 2010 Council Meeting Minutes Pg 21 -25
D) Consider approval of April 26, 2010 Closed Meeting Minutes Pg 26
E) Annual renewal of Otter Lake Animal Control Contract
Action Taken: Motion by O'Donnell, seconded by Rafferty, to
approve the Consent Agenda, Items 1A through 1E, was adopted
Pg 3 -19
A) Consider Resolution No. 10 -42 Awarding the Sale of $1,015,000 Pg 27 -50
General Obligation Improvement and Utility Revenue Refunding
Bonds, Series 2010A
Action Taken: Motion by Roeser, seconded by Gallup, to
approve Resolution No. 10 -42 as amended, was adopted
ADMINIS'
ION DEPARTMENT REPORT;
A) Consider Lease Agreement with North Memorial Ambulance,
Dan Tesch (Postponed 4- 26 -10)
Action Taken: Motion by Gallup, seconded by O'Donnell, to
approve the lease agreement with the contingency recommended by
the city attorney, was adopted
Council Agenda -2-
EXPANDED AGENDA
May 10, 2010
B) Consider Appointing a Lino Lakes Representative to the
Centennial Utilities Commission, Dan Tesch
Action Taken: Motion by O'Donnell, seconded by Roeser, to
approve the appointment of Scott Bundy, was adopted
A) Proclamation — National Police Week 2010
Action Taken: Motion by Gallup, seconded by Rafferty, to
approve the Proclamation as presented, was adopted
Pg 51 -52
B) Consider Resolution No. 10 -43, Assigning a police officer Pg 53 -54
to the Ramsey County Violent Crimes Enforcement Team
Action Taken: Motion by O'Donnell, seconded by Roeser, to
approve Resolution No. 10 -43 as presented, was adopted
A)
No report
Consider Second Reading of Ordinance No. 06 -10, Vacating a Pg 55 -58
Drainage and Utility Easement, 1612 Birch St., Michael Grochala
Action Taken: Motion by Roeser, seconded by O'Donnell, to
approve second reading and adoption of Ordinance No. 06 -10 as
presented, was adopted: Yeas, 5; Nays none
None
None
My
Community Calendar - A Look Ahead
May 11, 2010 through May 24, 2010
Wednesday, May 12
Monday, May 24
Monday, May 24
6:30 pm, Council Chambers Planning & Zoning
5:30 pm, Community Room Council Work Session
6:30 pm, Council Chambers City Council Meeting
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EXPENDITURES
MAY 10th, 2010
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Date: 04/29/2010 Time 14:42:20 Operator: KKF
Ranges:
Page: 1
City of Lino Lakes
FM Entry - Invoice Payment - Department Report
Fund:
Dept Id:
Program:
Vendor #:
Invoice #:
Schedule Journal #:
Bank #:
(A)
(A)
(A)
(A)
(A)
(R) 8626
(A)
Options: Print Ranges /Options: Y
Page on Department: N
Department Vendor Name
- 8626
# of copies: 1
Description
Amount
MAYOR /COUNCIL
MAYOR /COUNCIL
ADMINISTRATION
ADMINISTRATION
ADMINISTRATION
ADMINISTRATION
ADMINISTRATION
ADMINISTRATION
ADMINISTRATION
SENIORS
SENIORS
SENIORS
SENIORS
SENIORS
FINANCE
FINANCE
FINANCE
FINANCE
AMERICAN FAMILY LIFE
RELIASTAR LIFE INSUR
CENTRAL PENSION FUND
OPTUMHEALTH FINANCIA
DELTA DENTAL PLAN OF
MN CHILD SUPPORT PAY
HEALTH PARTNERS
Total for
MAY 2010 INS PREMIUM
MAY 2010 INS PREMIUM
MONTHLY IUOE CONTRIBUTIO
REFUND OF COBRA
MAY 2010 DENTAL
BRIAN C HRONSKI
MAY 2010 HEALTH
Department
PREMIUM
INS PREM
#0014011
INS PREM
PRESS PUBLICATIONS, CITY COUNCIL WORK SESSIO
PRESS PUBLICATIONS, NOTICE OF JOINT MEETING
Total for Department 401
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
TARGET BANK CREAM & SUGAR FOR LUNCH
OPTUMHEALTH FINANCIA MAR. 2010 ELIGIBLE PLAN
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 402
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 406
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
DELTA DENTAL PLAN OF MAY 2010 DENTAL IN5 PREM
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 407
LEGAL CONSULTANTS SWEENEY, BORER, & SW APRIL 2010 PROSECUTION S
Total for Department 414
ECONOMIC DEVELOPMENT RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
ECONOMIC DEVELOPMENT DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
429.24
1,326.14
3,414.48
11,375.76
2,413.88
681.40
6,027.52
25,668.42*
19.88
19.88
39.76*
11.25
8.09
57.12
110.27
17.44
57.96
2,448.52
2,710.65*
3.75
22.97
17.44
6.44
343.73
394.33*
7.54
110.27
56.79
1,781.48
1,956.08*
10,485.34
10,485.34*
3.75
36.75
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Date: 04/29/2010 Time: 14:42:21 Operator: KKF
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Department
Page: 2
City of Lino Lakes
FM Entry - Invoice Payment - Department Report
Vendor Name Description
Amount
ECONOMIC DEVELOPMENT LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
ECONOMIC DEVELOPMENT MN METRO NORTH TOURI HAMPTON INN HOTEL /MOTEL
ECONOMIC DEVELOPMENT HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 415
PLANNING
PLANNING
PLANNING
PLANNING
PLANNING
PLANNING
& ZONING
& ZONING
& ZONING
& ZONING
& ZONING
& ZONING
ENGINEERING
ENGINEERING
ENGINEERING
ENGINEERING
COMM DEV
COMM DEV
COMM DEV
COMM DEV
COMM DEV
POLICE
1110CE
CE
CE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
POLICE
•
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
SHORT - ELLIOTT - HENDRI MISC. GIS SERVICES
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
BONESTROO, INC. ORIDANANCE UPDATE
HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 416
TKDA
TKDA
TKDA
TKDA
GEN FUND ENGRG SVCS -ANOK
GEN FUND ENGRG SVCS -COUN
GEN FUND ENGRG SVCS -MILE
GEN FUND ENGRG SVCS -NPDE
Total for Department 417
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC
SHORT - ELLIOTT - HENDRI MISC. GIS SERVICES
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
Total for Department 418
ADVANCED GRAPHIX, IN
STAPLES BUSINESS ADV
STAPLES BUSINESS ADV
STAPLES BUSINESS ADV
ANOKA COUNTY CENTRAL
RELIASTAR LIFE INSUR
TARGET BANK
ASPEN MILLS, INC.
ASPEN MILLS, INC.
ASPEN MILLS, INC.
ASPEN MILLS, INC.
ASPEN MILLS, INC.
ASPEN MILLS, INC.
VERIZON WIRELESS
DELTA DENTAL PLAN OF
IMAGE PRINTING & GRA
XCEL ENERGY
STREICHER'S, INC.
STREICHER'S, INC.
UPS /UNITED PARCEL SE
LAND'S END BUSINESS
LINCOLN NATIONAL LIF
BAYCO
HEALTH PARTNERS
SQUAD CAR GRAPHICS UNIT
INDEX BINDER
PPR CPY /BLPT PEN /FLDR /EN
RETURN 2 HEWQ7551A CARTR
REMOTE SPEAKER MICROPHON
MAY 2010 INS PREMIUM
PSCA
J MARTIN UNIFORM ALLOWAN
K STREGE UNIFORM ALLOWAN
M DEMARS UNIFORM ALLOWAN
M HAGERT UNIFORM ALLOWAN
M RUMPSA UNIFORM ALLOWAN
T PETERSON UNIFORM ALLOW
MONTHLY CELL CHARGES
MAY 2010 DENTAL INS PREM
3PART FORMS /REQUEST FOR
MONTHLY ENERGY BILL
D THILL UNIFORM ALLOWNAC
T PETERSON UNIFORM ALLOW
SHIPPING CHARGES
D THILL UNIFORM ALLOWANC
MAY 2010 LTD INS PREMIUM
C BRAGELMAN UNIFORM ALLO
MAY 2010 HEALTH INS PREM
19.22
2,701.80
549.96
3,311.48*
7.50
73.50
121.57
36.26
4,060.75
1,099.92
5,399.50*
6,278.68
1,694.38
907.77
5,483.68
14,364.51*
11.25
55.15
17.44
602.04
47.52
733.40*
372.50
8.02
628.57
- 288.56
66.75
116.25
13.07
99.90
381.69
265.61
328.89
119.00
35.26
941.22
518.51
355.38
3.55
16.02
346.46
59.95
89.00
514.70
50.00
20,978.93
Date: 04/29/2010 Time 14:42:21 Operator: KKF
Department
Page: 3
City of Lino Lakes
FM Entry - Invoice Payment - Department Report
Vendor Name Description
Amount
FIRE
FIRE
FIRE
FIRE
Total for Department 420
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 421
BUILDING INSPECTIONS RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
BUILDING INSPECTIONS DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
BUILDING INSPECTIONS NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC
BUILDING INSPECTIONS TKDA GEN FUND ENGRG SVCS -BLDG
BUILDING INSPECTIONS LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
BUILDING INSPECTIONS HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 422
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
STREETS
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
A & L SUPERIOR SOD C ROLLS OF SOD
A & L SUPERIOR SOD C ROLLS OF SOD /SOD DAMAGE
ANOKA COUNTY CENTRAL ANNUAL MOTOROLA RADIO SE
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
BRYAN ROCK PRODUCTS, 1" WITH FINES CLASS 5
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
EARL F. ANDERSEN, IN 9" STREET SIGN PLATES /E4
NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC
XCEL ENERGY MONTHLY ENERGY USAGE
WRIGHT /HENNEPIN CO -0 TWN CTR PKWY /VILLAGE DR/
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
QWEST SIGNAL PHONE MONTHLY SER
HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 430
AMERICAN FASTENER &
RELIASTAR LIFE INSUR
BEE LINE ALIGNMENT S
O'REILLY AUTOMOTIVE,
O'REILLY AUTOMOTIVE,
O'REILLY AUTOMOTIVE,
O'REILLY AUTOMOTIVE,
O'REILLY AUTOMOTIVE,
O'REILLY AUTOMOTIVE,
EGAN OIL COMPANY
EGAN OIL COMPANY
DELTA DENTAL PLAN OF
FRATTALLONE'S HARDWA
H & L MESABI, INC.
H & L MESABI, INC.
FACTORY MOTOR PARTS
FACTORY MOTOR PARTS
FACTORY MOTOR PARTS
HSBC BUSINESS SOLUTI
FLT WASHERS /TUBE CLAMP /H
MAY 2010 INS PREMIUM
WHEEL ALIGNMENT
16OZ MOTOR TRT
7 WAY SOCKET
FUEL FILTERS /HYD FILERS
OIL /FUEL FILTERS
RETURN IDLR ARM /WIPER BL
WHL WEIGHTS
2200 GALLONS UNLEADED GA
800 GALLONS # 2 DYED FUE
MAY 2010 DENTAL INS PREM
FUNITURE POLISH
LOADER BOLT ON BLADE /PLO
LOADER BUCKET BOLTS /END
ANTIFREEZE /OIL PRESSURE
CREDIT FOR BATTERY CORES
PROF BATTERY UN2794
AMBER LIGHTS
26,020.67*
15.00
184.02
50.80
2,710.27
2,960.09*
8.62
91.89
34.88
231.33
40.05
1,018.23
1,425.00*
12.31
23.09
11.80
25.69
1,581.38
215.00
347.99
142.97
5,009.98
810.00
100.18
50.05
3,006.27
11,336.71*
49.00
3.00
75.00
64.06
27.64
23.98
22.73
- 123.24
10.67
5,574.14
2,194.64
42.26
10.64
281.04
713.20
61.91
-33.00
103.20
8.55
Date: 04/29/2010 Time: 14:42:21 Operator: KKF
11111
Department
Page: 4
City of Lino Lakes
FM Entry - Invoice Payment - Department Report
Vendor Name
Description
Amount
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
FLEET
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
GOVERNMENT
PARKS
S
S
KS
PARKS
PARKS
PARKS
PARKS
PARKS
PARKS
PARKS
PARKS
PARKS
PARKS
RECREATION
RECREATION
RECREATION
RECREATION
RECREATION
RECREATION
RECREATION
•
COMO LUBE & SUPPLIES
TRUCK UTILITIES, INC
TOUSLEY FORD, INC.
TOUSLEY FORD, INC.
TOUSLEY FORD, INC.
TOUSLEY FORD, INC.
LINCOLN NATIONAL LIF
ANOKA COUNTY
HEALTH PARTNERS
Total for D
1 CASE AEROSHELL OIL W 1
KIT /LOCK RETRO FIT N/S
CORE RETURN
EC755 STOCK
HOUSING
REMOVE, INSTALL & PROGRA
MAY 2010 LTD INS PREMIUM
ANNUAL OIL GENERATOR LIC
MAY 2010 HEALTH INS PREM
epartment 431
BUILDINGS STAPLES BUSINESS ADV
BUILDINGS ANOKA COUNTY
BUILDINGS RELIASTAR LIFE INSUR
BUILDINGS J. P. COOKE COMPANY,
BUILDINGS
BUILDINGS
BUILDINGS
BUILDINGS
BUILDINGS
BUILDINGS
BUILDINGS
DALCO, INC.
DALCO, INC.
DALCO, INC.
DELTA DENTAL PLAN OF
XCEL ENERGY
TWIN CITY GARAGE DOO
TOUSLEY FORD, INC.
BUILDINGS LINCOLN NATIONAL LIF
BUILDINGS HUGO PLUMBING & PUMP
BUILDINGS HEALTH PARTNERS
RETURN OF WRONG TONER CA
OLD CITY HALL 2010 PROPE
MAY 2010 INS PREMIUM
CUSTOM STAMPS /DATER
JANITOR SUPPLIES
PAPER TOWELS /AIR FRESHEN
RETURN AIR FRESHENERS
MAY 2010 DENTAL INS PREM
MONTHLY ENERGY USAGE
REPLACED WEATHER STRIP 0
3/29/10 UNIT 215 CLAIM /B
MAY 2010 LTD INS PREMIUM
REMOVED /CLEANED /REINSTAL
MAY 2010 HEALTH INS PREM
Total for Department 432
PLAYPOWER LT FARMING ASSY CYL SPRING RED /BUBB
ANOKA COUNTY OLD CITY HALL 2010 PROPE
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM
GREENLIFE SUPPLY L.L 36 -6 -6 90 % /DYRL 5% NFATE
CIRCLE PINES POST OF ROLL OF STAMPS
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM
NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC
HOME DEPOT CREDIT SE 2X3 -8 STUDS /1X4 -8 PINE /P
HOME DEPOT CREDIT SE JUNIPER /BLUERUG /MUGHOPIN
HOME DEPOT CREDIT SE PAINT SUPPLIES
TESSMAN SEED COMPANY NUTRISPHERE /FURTILIZER
TOMARK SPORTS, INC. 400' TAPE MEASURER /100'
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM
HEALTH PARTNERS MAY 2010 HEALTH INS PREM
Total for Department 450
ACTIVE NETWORK, INC.
RELIASTAR LIFE INSUR
DELTA DENTAL PLAN OF
NEXTEL COMMUNICATION
CROWN TROPHY, INC.
LINCOLN NATIONAL LIF
HEALTH PARTNERS
1ST QTR 2010 ACTIVENET
MAY 2010 INS PREMIUM
MAY 2010 DENTAL INS PREM
MONTHLY TELEPHONE SERVIC
PARK & REC TROPHIES
MAY 2010 LTD INS PREMIUM
MAY 2010 HEALTH INS PREM
69.42
103.88
- 641.25
8.38
22.26
100.00
17.45
100.00
880.33
9,769.89*
- 229.50
1,951.81
3.75
136.70
138.23
334.71
- 169.72
36.75
91.92
80.84
776.10
12.00
309.94
549.96
4,023.49*
491.63
31.99
20.64
1,252.06
44.00
-55.59
255.11
226.21
69.63
138.94
1,804.69
161.42
93.46
2,415.01
6,949.20*
469.25
12.00
117.64
17.44
306.86
46.52
1,275.99
Date: 04/29/2010 Time 14:42:21 Operator: KKF
Department
Page: 5
City of Lino Lakes
FM Entry - Invoice Payment - Department Report
Vendor Name Description
Amount
ENVIRONMENTAL
ENVIRONMENTAL
ENVIRONMENTAL
ENVIRONMENTAL
ENVIRONMENTAL
SOLID WASTE
SOLID WASTE
SOLID WASTE
SOLID WASTE
SOLID WASTE
SOLID WASTE
SOLID WASTE
FORESTRY
FORESTRY
FORESTRY
FORESTRY
ADULT SPORTS
ADULT SPORTS
SPECIAL EVENTS /TRIPS
YOUTH INSTRUCTIONAL
YOUTH INSTRUCTIONAL
FLEET
FLEET
FLEET
FLEET
Total for Department 451 2,245.70*
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM 4.12
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM 12.86
NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC 34.88
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM 13.65
HEALTH PARTNERS MAY 2010 HEALTH INS PREM 530.65
Total for Department 461 596.16*
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM 1.13
TARGET BANK POP FOR RECYCLE DAY 9.43
KFC RECYCLE DAY VOLUNTEERS M 149.27
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM 11.03
PRESS PUBLICATIONS, RECYCLE DAY AD PKG 273.00
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM 5.85
HEALTH PARTNERS MAY 2010 HEALTH INS PREM 164.98
Total for Department 462 614.69*
RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM 2.25
DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM 12.86
LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM 6.82
HEALTH PARTNERS MAY 2010 HEALTH INS PREM 192.49
Total for Department 463 214.42*
Total for Fund 101 131,219.49*
HARTHORN, KAREN CANCELLED PROGRAM 35.00
VANG, TIANJIAO PROGRAM REFUND 320.00
SONDERMAN, MICKY PROGRAM REFUND 39.00
Total for Department 394.00*
MRPA TEAM REGISTRATION 609.00
CENTENNIAL SPORTS AR SPORT ARENA USAGE FROM 3 2,187.00
Total for Department 202 2,796.00*
MUTUAL SALES, INC. KRAZY KITE /WILD WING 413.15
Total for Department 205 413.15*
TAHO SPORTSWEAR, INC YOUTH T- SHIRT /INK COLOR 1,140.50
CROWN TROPHY, INC. PARK & REC TROPHIES 95.20
Total for Department 207 1,235.70*
Total for Fund 201 4,838.85*
ANOKA COUNTY LICENSE REGISTRATION FOR 2011 FO 1,665.59
TRUCK UTILITIES, INC TOOL BOX 693.19
RHINO LINING OF WHIT RHINO BED LINERS FOR 3 N 2,385.45
NELSON AUTO CENTER 2011 FORD F250 /UNIT #250 24,998.17
Total for Department 431 29,742.40*
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Date: 04/29/2010 Time: 14:42 :21 Operator: KKF
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Page: 6
City of Lino Lakes
FM Entry - Invoice Payment - Department Report
Department Vendor Name Description Amount
Total for Fund 402 29,742.40*
OTHER TKDA 2010 OVERLAY PROJECT PRO 5,013.41
OTHER TKDA 2010 SEALCOAT PROJECT PR 2,022.78
Total for Department 499 7,036.19*
Total for Fund 421 7,036.19*
OTHER SHORT - ELLIOTT - HENDRI MISC. GIS SERVICES 104.26
OTHER TKDA GEN FUND ENGRG SVCS -NPDE 1,287.73
Total for Department 499 1,391.99*
Total for Fund 422 1,391.99*
OTHER PRESS PUBLICATIONS, BIDS ADVERTISEMENT FOR P 83.48
Total for Department 499 83.48*
Total for Fund 423 83.48*
WATER FERGUSON WATERWORKS BLK NIPPLES /BLK CPLG STD 355.00
WATER INSTRUMENTAL RESEARC 4 -1 -10 MATTSON, 716 - 79 83.90
WATER RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM 8.07
WATER DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM 189.53
WATER NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC 59.82
WATER HAWKINS , INC. SPADNS REAGENT /SODIUM AR 254.52
WATER HOME DEPOT CREDIT SE 6" CUTINGPLIER /7" DIAGPL 79.03
WATER MCCARTHY WELL COMPAN CHARGES FOR PUMP PERFORM 775.00
ER XCEL ENERGY MONTHLY ENERGY USAGE 1,095.11
R SENSUS TECHNOLOGIES SENSUS SYSTEM SUPPORT /AN 1,320.00
R TKDA GEN FUND ENGRG SVCS -ASSE 1,523.19
WATER HD SUPPLY WATERWORKS THK RUBBER MTR WASHER 14.90
WATER LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM 33.16
WATER HEALTH PARTNERS MAY 2010 HEALTH INS PREM 1,290.49
Total for Department 494 7,081.72*
Total for Fund 601 7,081.72*
SEWER RELIASTAR LIFE INSUR MAY 2010 INS PREMIUM 8.01
SEWER BAROTT DRILLING SERV BENTONITE GROUT /LABOR 310.00
SEWER DELTA DENTAL PLAN OF MAY 2010 DENTAL INS PREM 79.00
SEWER NEXTEL COMMUNICATION MONTHLY TELEPHONE SERVIC 50.70
SEWER FRATTALLONE'S HARDWA DETECTOR LEAK GAS /THREAD 24.32
SEWER FRATTALLONE'S HARDWA ELECTRIC TAPE /POLY 1" CO 10.58
SEWER TRI STATE PUMP AND C CLEARED PLUGGED CHECK VA 900.00
SEWER XCEL ENERGY MONTHLY ENERGY USAGE 1,370.00
SEWER TKDA GEN FUND ENGRG SVCS -ASSE 1,523.19
SEWER LINCOLN NATIONAL LIF MAY 2010 LTD INS PREMIUM 33.13
SEWER HEALTH PARTNERS MAY 2010 HEALTH INS PREM 1,290.51
Total for Department 495 5,599.44*
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Date: 04/29/2010 Time: 14:42:21 Operator: KKF
Page: 7
City of Lino Lakes
FM Entry - Invoice Payment - Department Report
Department Vendor Name Description Amount
Total for Fund 602 5,599.44*
BLUE TOW SERVICE, IN '99 BUICK REGAL /10 -07804 162.79
BEE LINE ALIGNMENT S SEIZED VEHICLE /CN 09 -147 279.99
EMERGENCY AUTOMOTIVE SEIZED VEHICLE /100 WATT 184.36
TKDA ARNT - INTERIM USE PERMI 135.55
TKDA CHOMONIX BRIDGE - CONSTR 2,101.03
TKDA THE PRESERVE 135.55
TKDA VFW - EASEMENTS /PROJECT 338.88
SWEENEY, BORER, & SW APRIL 2010 FORFEITURE /CO 64.26
Total for Department 3,402.41*
Total for Fund 801 3,402.41*
Grand Total 190,395.97*
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Date: 04/29/2010 Time 14:43:03 City of Lino Lakes
FM Entry - Invoice Journal
Ranges:
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Options:
Vendor #
Vendor #: (A)
Invoice #: (A)
Entry Journal 8: (R) 8616 - 8616
Trans #: (A)
Line #: (A)
Due Date: (A)
Bank #: (A)
Detail / Summary: S
Name
Operator: KKF Page: 1
Invoice Status: A # of copies: 1
Sort: A Check Over Expend: N
# of items
Discount
Net Gross Discount Lost
000020 A & L SUPERIOR SOD CO, INC.
000038 ACTIVE NETWORK, INC. (.COM)
000095 ADVANCED GRAPHIX, INC.
000200 AMERICAN FAMILY LIFE ASSUR, INC.
000210 AMERICAN FASTENER & SUPPLY, INC.
000370 ANOKA COUNTY CENTRAL COMMICATIONS
004063 ANOKA COUNTY LICENSE BUREAU
000420 ANOKA COUNTY
007765 ANOKA COUNTY
000541 ASPEN MILLS, INC.
000580 BAROTT DRILLING SERVICES, INC.
•39 BAYCO
000861 BEE LINE ALIGNMENT SERVICE
000724 BLUE TOW SERVICE, INC.
900471 BONESTROO, INC.
000880 BRYAN ROCK PRODUCTS, INC.
007764 CENTENNIAL SPORTS ARENA
000537 CENTRAL PENSION FUND
001100 CIRCLE PINES POST OFFICE
004470 COMO LUBE & SUPPLIES, INC.
007354 CROWN TROPHY, INC.
001270 DALCO, INC.
•
2
1
1
1
1
2
1
1
1
7
1
1
2
1
1
1
1
1
1
1
1
3
35.40 35.40 .00 .00
469.25 469.25 .00 .00
372.50 372.50 .00 .00
429.24 429.24 .00 .00
49.00 49.00 .00 .00
78.55 78.55 .00 .00
1,665.59 1,665.59 .00 .00
1,983.80 1,983.80 .00 .00
100.00 100.00 .00 .00
1,230.35 1,230.35 .00 .00
310.00 310.00 .00 .00
50.00 50.00 .00 .00
354.99 354.99 .00 .00
162.79 162.79 .00 .00
4,060.75 4,060.75 .00 .00
1,581.38 1,581.38 .00 .00
2,187.00 2,187.00 .00 .00
3,414.48 3,414.48 .00 .00
44.00 44.00 .00 .00
69.42 69.42 .00 .00
402.06 402.06 .00 .00
303.22 303.22 .00 .00
Date: 04/29/2010 Time: 14:43:04 City of Lino Lakes Operator: KKF Page: 2
FM Entry - Invoice Journal
Discount
Vendor # Name # of items Net Gross Discount LO
001301 DELTA DENTAL PLAN OF MINNESOTA 1 4,278.55 4,278.55 .00 .00
001380 EARL F. ANDERSEN, INC 1 347.99 347.99 .00 .00
001148 EGAN OIL COMPANY 2 7,768.78 7,768.78 .00 .00
001561 EMERGENCY AUTOMOTIVE TECHNOLOGIES, INC. 1 184.36 184.36 .00 .00
003220 FACTORY MOTOR PARTS COMPANY, INC. 3 132.11 132.11 .00 .00
000022 FERGUSON WATERWORKS 1 355.00 355.00 .00 .00
001560 FRATTALLONE'S HARDWARE, INC. 3 45.54 45.54 .00 .00
001066 GREENLIFE SUPPLY L.L.C. 1 1,252.06 1,252.06 .00 .00
001768 H & L MESABI, INC. 2 994.24 994.24 .00 .00
000824 HARTHORN, KAREN 1 35.00 35.00 .00 .00
001480 HAWKINS INC. 1 254.52 254.52 .00 .00
004562 HD SUPPLY WATERWORKS, LTD. 1 14.90 14.90 .00 .00
900559 HEALTH PARTNERS 1 48,555.24 48,555.24 .00 .00
001859 HOME DEPOT CREDIT SERVICES 1 513.81 513.81 .00 .00
003271 HSBC BUSINESS SOLUTIONS 1 8.55 8.55 .00 .00
008035 HUGO PLUMBING & PUMP SVC, INC. 1 309.94 309.94 .00 .00
002340 IMAGE PRINTING & GRAPHICS, INC. 1 355.38 355.38 .00 •
000303 INSTRUMENTAL RESEARCH, INC. 1 83.90 83.90 .00 .00
000627 J. P. COOKE COMPANY, INC. 1 136.70 136.70 .00 .00
000917 KFC 1 149.27 149.27 .00 .00
007560 LAND'S END BUSINESS OUTFITTERS 1 89.00 89.00 .00 .00
007701 LINCOLN NATIONAL LIFE INS CO 1 1,191.96 1,191.96 .00 .00
002511 MCCARTHY WELL COMPANY, INC. 1 775.00 775.00 .00 .00
002931 MN CHILD SUPPORT PAYMENT CENTER 1 681.40 681.40 .00 .00
008021 MN METRO NORTH TOURISM 1 2,701.80 2,701.80 .00 .00
003050 MRPA 1 609.00 609.00 .00 .00
000189 MUTUAL SALES, INC. 1 413.15 413.15 .00 .00
•
Date: 04/29/2010 Time 14:43:04 City of Lino Lakes
FM Entry - Invoice Journal
Operator: KKF Page: 3
Discount
sor # Name # of items Net Gross Discount Lost
007755 NELSON AUTO CENTER 1 24,998.17 24,998.17 .00 .00
001395 NEXTEL COMMUNICATIONS 1 648.12 648.12 .00 .00
000900 O'REILLY AUTOMOTIVE, INC. 6 25.84 25.84 .00 .00
000983 OPTUMHEALTH FINANCIAL SERVICES 2 11,432.88 11,432.88 .00 .00
000016 PLAYPOWER LT FARMINGTON, INC. 1 491.63 491.63 .00 .00
003600 PRESS PUBLICATIONS, INC. 4 396.24 396.24 .00 .00
007776 QWEST 1 50.05 50.05 .00 .00
000468 RELIASTAR LIFE INSURANCE COMPANY 1 1,599.71 1,599.71 .00 .00
007741 RHINO LINING OF WHITE BEAR LAKE 1 2,385.45 2,385.45 .00 .00
003974 SENSUS METERING SYSTEMS, INC. 1 1,320.00 1,320.00 .00 .00
003880 SHORT - ELLIOTT- HENDRICKSON, INC. 1 827.87 827.87 .00 .00
008038 SONDERMAN, MICKY 1 39.00 39.00 .00 .00
000365 STAPLES ADVANTAGE 4 118.53 118.53 .00 .00
004240 STREICHER'S, INC. 3 362.48 362.48 .00 .00
007642 SWEENEY, BORER, & SWEENEY, P.A. 2 10,549.60 10,549.60 .00 .00
000913 TARO SPORTSWEAR, INC. /SATURN SCREENPRINT 1 1,140.50 1,140.50 .00 .00
1111099 TARGET 1 30.59 30.59 .00 .00
002790 TESSMAN SEED COMPANY, INC. 1 1,804.69 1,804.69 .00 .00
004350 TKDA 5 28,677.15 28,677.15 .00 .00
007491 TOMARK SPORTS, INC. 1 161.42 161.42 .00 .00
007682 TOUSLEY FORD, INC. 5 265.49 265.49 .00 .00
002465 TRI STATE PUMP AND CONTROL, INC. 1 900.00 900.00 .00 .00
004510 TRUCK UTILITIES, INC. 2 797.07 797.07 .00 .00
004540 TWIN CITY GARAGE DOOR CO., INC. 1 80.84 80.84 .00 .00
004575 UPS /UNITED PARCEL SERVICE 1 59.95 59.95 .00 .00
008037 VANG, TIANJIAO 1 320.00 320.00 .00 .00
000970 VERIZON WIRELESS 1 941.22 941.22 .00 .00
•
Date: 04/29/2010 Time 14:43:05 City of Lino Lakes Operator: KKF Page: 4
FM Entry - Invoice Journal
Discount
Vendor # Name # of items Net Gross Discount Lill
007421 WRIGHT /HENNEPIN CO -OP ELECTRIC ASSOC 1 810.00 810.00 .00 .00
003250 XCEL ENERGY 6 7,570.56 7,570.56 .00 .00
Grand Totals: 124 190,395.97 190,395.97 .00 .00*
•
•
Date: 04/29/2010 Time 14:43:05 City of Lino Lakes Operator: KKF Page: 5
FM Entry - Invoice Journal
•
•
Account # Description Fiscal Debit
Main
Credit
101 - 2040 -000 GENERAL FUND PAYROLL WITHHOLDING 05/2010 17,226.78
101 - 2041 -000 GENL FUND FLEX PLAN - HEALTH CARE PREMIUM 05/2010 6,027.52
101- 2044 -000 GENERAL FUND FLEX PLAN - DENTAL ACCOUNT 05/2010 2,413.88
101 - 3416 -000 GENERAL FUND RESALE 05/2010 0.24
101- 401 - 4343 -000 MAYOR /COUNCIL NEWSLETTER 05/2010 39.76
101 - 402 - 4131 -000 GENERAL ADMINISTRATION HEALTH INSURANCE 05/2010 2,448.52
101 - 402 - 4133 -000 GENERAL ADMINISTRATION LIFE INSURANCE 05/2010 69.21
101 - 402 - 4134 -000 GENERAL ADMINISTRATION DENTAL INSURANCE 05/2010 110.27
101 - 402 - 4200 -000 GENERAL ADMINISTRATION OFFICE SUPPLIES 05/2010 8.09
101 - 402 - 4310 -000 GENERAL ADMINISTRATION OTHER CONSULTANT 05/2010 57.12
101 - 402 - 4321 -000 GENERAL ADMINISTRATION TELEPHONE 05/2010 17.44
101 - 406 - 4131 -000 GENERAL SENIORS HEALTH INSURANCE 05/2010 343.73
101 - 406 - 4133 -000 GENERAL SENIORS LIFE INSURANCE 05/2010 10.19
101 - 406 - 4134 -000 GENERAL SENIORS DENTAL INSURANCE 05/2010 22.97
101 - 406 - 4321 -000 GENERAL SENIORS TELEPHONE 05/2010 17.44
101 - 407- 4131 -000 GENERAL FINANCE HEALTH INSURANCE 05/2010 1,781.48
101 - 407 - 4133 -000 GENERAL FINANCE LIFE INSURANCE 05/2010 64.33
101 - 407- 4134 -000 GENERAL FINANCE DENTAL INSURANCE 05/2010 110.27
101 - 414 - 4303 -000 GENERAL LEGAL CONSULTANTS CRIMINAL ATTOR 05/2010 10,485.34
101 - 415- 4131 -000 ECONOMIC DEV HEALTH INSURANCE 05/2010 549.96
101 - 415- 4133 -000 ECONOMIC DEVELOPMENT LIFE INSURANCE 05/2010 22.97
101 - 415- 4134 -000 ECONOMIC DEVELOPMENT DENTAL INSURANCE 05/2010 36.75
101 - 415- 4900 -000 ECONOMIC DEVELOPMENT MARKETING 05/2010 2,701.80
101- 416 - 4131 -000 PLANNING &ZONING HEALTH INSURANCE 05/2010 1,099.92
101 - 416 - 4133 -000 PLANNING & ZONING LIFE INSURANCE 05/2010 43.76
101- 416 - 4134 -000 PLANNING & ZONING DENTAL INSURAN 05/2010 73.50
101 - 416 - 4300 -000 PLANNING & ZONING PROF SERVICES 05/2010 121.57
101 - 416 - 4410 -000 PLANNING & ZONING CONTRACT SERVICES 05/2010 4,060.75
101 - 417- 4410 -000 ENGINEERING CONTRACTED SERVICES 05/2010 14,364.51
101 -418- 4133 -000 COMM DEV LIFE INSURANCE 05/2010 58.77
101 - 418- 4134 -000 COMM DEV DENTAL INSURANCE 05/2010 55.15
101 - 418- 4300 -000 COMM DEV PROFESSIONAL SERVICES 05/2010 602.04
101 - 418- 4321 -000 COMM DEV TELEPHONE 05/2010 17.44
101 - 420 - 4131 -000 GENERAL POLICE HEALTH INSURANCE 05/2010 20,978.93
101 - 420- 4133 -000 GENERAL POLICE LIFE INSURANCE 05/2010 630.95
101 - 420 - 4134 -000 GENERAL POLICE DENTAL INSURANCE 05/2010 518.51
101 - 420 - 4200 -000 GENERAL POLICE OFFICE SUPPLIES 05/2010 703.41
101 - 420- 4211 -000 GENERAL POLICE MAINTENANCE SUPPLIES 05/2010 66.75
101 - 420 - 4321 -000 GENERAL POLICE TELEPHONE 05/2010 941.22
101 - 420 - 4322 -000 GENERAL POLICE POSTAGE 05/2010 59.95
101 -420- 4330 -000 GENERAL POLICE TRAVEL /TUITION 05/2010 13.07
101 - 420 - 4370 -000 GENERAL POLICE UNIFORMS 05/2010 1,731.83
101 - 420 - 4381 -000 GENERAL POLICE ELECTRICITY 05/2010 3.55
101 - 420 -5000 -000 GENERAL POLICE CAPITAL OUTLAY 05/2010 372.50
101 - 421- 4131 -000 GENERAL FIRE HEALTH INSURANCE 05/2010 2,710.27
101- 421- 4133 -000 GENERAL FIRE LIFE INSURANCE 05/2010 65.80
101 - 421 - 4134 -000 GENERAL FIRE DENTAL INSURANCE 05/2010 184.02
101- 422 - 4131 -000 BUILDING INSPECTIONS HEALTH INSURANCE 05/2010 1,018.23
101 - 422 - 4133 -000 BUILDING INSPECTIONS LIFE INSURANCE 05/2010 48.67
101 - 422- 4134 -000 BUILDING INSPECT DENTAL INSURANCE 05/2010 91.89
101- 422 - 4304 -000 GENERAL BUILDING INSPECTIONS MUN ENG 05/2010 231.33
101 - 422- 4321 -000 BUILDING INSPECTIONS TELEPHONE 05/2010 34.88
101- 430 - 4131 -000 GENERAL STREETS HEALTH INSURANCE 05/2010 3,006.27
Date: 04/29/2010 Time 14:43:05 City of Lino Lakes Operator: KKF Page: 6
FM Entry - Invoice Journal
Account #
Description Fiscal Debit Credit
101 - 430 - 4133 -000
101 - 430 - 4134 -000
101 - 430 - 4223 -000
101 - 430 - 4229 -000
101 - 430- 4321 -000
101 - 430 - 4385 -000
101 - 430 - 4410 -000
101 - 431 - 4131 -000
101 - 431 - 4133 -000
101 - 431 - 4134 -000
101- 431 - 4212 -000
101- 431 - 4221 -000
101 - 431 - 4300 -000
101 - 432 - 4131 -000
101 - 432- 4133 -000
101 - 432 - 4134 -000
101 - 432 - 4200 -000
101 - 432 - 4211 -000
101 - 432- 4300 -000
101 - 432 - 4361 -000
101 - 432- 4381 -000
101 - 432- 4410 -000
101 - 450- 4131 -000
101 - 450- 4133 -000
101 - 450 - 4134 -000
101 - 450 - 4211 -000
101- 450- 4300 -000
101 - 450- 4321 -000
101 - 450- 4322 -000
101 - 451- 4131 -000
101 - 451 - 4133 -000
101- 451- 4134 -000
101 -451- 4211 -000
101 - 451- 4310 -000
101 - 451- 4321 -000
101 - 461 - 4131 -000
101 - 461 - 4133 -000
101 - 461 - 4134 -000
101 - 461 - 4321 -000
101 - 462 - 4131 -000
101 - 462 - 4133 -000
101 - 462- 4134 -000
101 - 462- 4410 -000
101 - 463 - 4131 -000
101 - 463 - 4133 -000
101 - 463 - 4134 -000
GENERAL STREETS LIFE INSURANCE 05/2010 125.87
GENERAL STREETS DENTAL INSURANCE 05/2010 215.00
GENERAL STREETS STREET SIGNS 05/2010 347.99
GENERAL STREETS GRAVEL /MISC 05/2010 1,616.78
GENERAL STREETS TELEPHONE 05/2010 142.97
GENERAL STREETS STREET LIGHTS 05/2010 5,870.03
GENERAL STREETS CONTRACTED SERVICES 05/2010 11.80
GENERAL FLEET HEALTH INSURANCE 05/2010 880.33
GENERAL FLEET LIFE INSURANCE 05/2010 20.45
GENERAL FLEET DENTAL INSURANCE 05/2010 42.26
GENERAL FLEET VEHICLE FUEL 05/2010 7,768.78
GENERAL FLEET SHOP PARTS 05/2010 883.07
GENERAL FLEET PROFESSIONAL SERVICES 05/2010 175.00
GOVER BUILD HEALTH INSURANCE 05/2010 549.96
GOVER BUILD LIFE INSURANCE 05/2010 15.75
GOVER BUILDINGS DENTAL INSURANCE 05/2010 36.75
GOVER BUILDINGS OFFICE SUPPLIES 05/2010 -92.80
GOVER BUILDINGS MAINTENANCE SUPPLIES 05/2010 303.22
GOVER BUILDINGS PROFESS. SERV 05/2010 2,261.75
GOVER BUILDINGS BUILD INS 05/2010 776.10
GOVER BUILDINGS ELECTRICITY 05/2010 91.92
GOVER BUILDINGS CONTRACTED 05/2010 80.84
GENERAL PARKS HEALTH INSURANCE 05/2010 2,415.01
GENERAL PARKS LIFE INSURANCE 05/2010 114.10
GENERAL PARKS DENTAL INSURANCE 05/2010 -55.59
GENERAL PARKS MAINTENANCE SUPPLIES 05/2010 4,144.58
GENERAL PARKS PROFESSIONAL SERVICES 05/2010 31.99
GENERAL PARKS TELEPHONE 05/2010 255.11
GENERAL PARKS POSTAGE 05/2010 44.00
GENERAL RECREATION HEALTH INSURANCE 05/2010 1,275.99
GENERAL RECREATION LIFE INSURANCE 05/2010 58.52
GENERAL RECREATION DENTAL INSURANCE 05/2010 117.64
GENERAL RECREATION MAINTENANCE SUPPLIES 05/2010 306.86
GENERAL RECREATION OTHER CONSULTANT 05/2010 469.25
GENERAL RECREATION TELEPHONE 05/2010 17.44
GENERAL ENVIRONMENTAL HEALTH INSURANCE 05/2010 530.65
GENERAL ENVIRONMENTAL LIFE INSURANCE 05/2010 17.77
GENERAL ENVIRONMENTAL DENTAL INSURANCE 05/2010 12.86
GENERAL ENVIRONMENTAL TELEPHONE 05/2010 34.88
GENERAL SOLID WASTE HEALTH INSURANCE 05/2010 164.98
GENERAL SOLID WASTE LIFE INSURANCE 05/2010 6.98
GENERAL SOLID WASTE DENTAL INSURANCE 05/2010 11.03
GENERAL SOLID WASTE CONTRACTED SERVICES 05/2010 431.70
GENERAL FORESTRY HEALTH INSURANCE 05/2010 192.49
GENERAL FORESTRY LIFE INSURANCE 05/2010 9.07
GENERAL FORESTRY DENTAL INSURANCE 05/2010 12.86
Fund Total: 131,219.49
201- 202 - 4211 -839 RECREATION MAINT SUP - SOFTBALL ADULT SUMM 05/2010 609.00
201- 202 - 4211 -843 RECREATION MAINT SUPPLIES ADULT SOCCER 05/2010 2,187.00
201 - 205- 4211 -876 MAINTENANCE SUPPL KITE DAY 05/2010 413.15
201- 207 - 4211 -806 RECREATION MAINT SUPPLIES T -BALL 05/2010 784.13
.00
•
•
Date: 04/29/2010 Time 14:43:05 City of Lino Lakes
FM Entry - Invoice Journal
Account #
• 201- 207 - 4211-809
201 - 207 - 4211 -854
201 -207- 4211 -857
201 - 3810 -801
201 - 3810 -806
201- 3810 -850
•
Operator: KKF Page: 7
Description Fiscal Debit Credit
RECR YOUTH INSTR MAINT SUPPL Start Smart 05/2010 380.17
RECREATION MAINT SUPL YOUTH TENNIS LESSO 05/2010 23.80
RECREATION MAINT SUPL SOCCER FUNDAMENTAL 05/2010 47.60
RECREATION AEROBICS 05/2010 39.00
RECREATION T -BALL 4,5,6 YEAR OLDS 05/2010 35.00
RECREATION YOUTH GOLF LEAGUE 05/2010 320.00
Fund Total: 4,838.85
402 - 431 - 5000 -000 FLEET CAPITITAL OUTLAY 05/2010
Fund Total:
421 - 499 - 4304 -088
421 - 499 - 4304 -089
422 - 499 - 4300 -000
422 - 499 - 4304 -000
423- 499 - 4340 -087
601 - 494- 4131 -000
601 - 494 - 4133 -000
601 - 494 - 4134 -000
601 - 494- 4211 -000
601 - 494 - 4215 -000
601 - 494- 4222 -000
601 - 494 - 4240 -000
601 - 494 - 4300 -000
601- 494- 4304 -000
601 - 494- 4321 -000
601 - 494 - 4381 -000
STREET MAINTENANCE OTHER MUNICIPAL ENGIN 05/2010
STREET MAINTENANCE OTHER MUNICIPAL ENGIN 05/2010
Fund Total:
SURFACE WATER MANAGEMENT PROFNL SERVICES 05/2010
SURFACE WATER MANAGEMENT MUNICIPAL ENGNR 05/2010
Fund Total:
29,742.40
29,742.40
2,022.78
5,013.41
7,036.19
104.26
1,287.73
1,391.99
STREET RECONSTRUCTION OTHER PRINTING & P 05/2010 83.48
Fund Total:
.00
.00
.00
.00
83.48 .00
WATER OPERATING WATER HEALTH INSURANCE 05/2010 1,290.49
WATER OPERATING WATER LIFE INSURANCE 05/2010 41.23
WATER OPERATING WATER DENTAL INSURANCE 05/2010 189.53
WATER OPERATING MAINTENANCE SUPPLIES 05/2010 369.90
WATER OPERATING WATER METERS 05/2010 1,320.00
WATER OPERATING CHEMICALS 05/2010 254.52
WATER OPERATING SMALL TOOLS 05/2010 79.03
WATER OPERATING PROFESSIONAL SERVICES 05/2010 858.90
WATER OPERATING MUNICIPAL ENGINEER 05/2010 1,523.19
WATER OPERATING TELEPHONE 05/2010 59.82
WATER OPERATING ELECTRICITY 05/2010 1,095.11
Fund Total: 7,081.72
602 - 495- 4131 -000 SEWER OPERATING HEALTH INSURANCE 05/2010 1,290.51
602 - 495- 4133 -000 SEWER OPERATING LIFE INSURANCE 05/2010 41.14
602 - 495- 4134 -000 SEWER OPERATING SEWER DENTAL INSURANCE 05/2010 79.00
602 - 495- 4211 -000 SEWER OPERATING MAINTENANCE SUPPLIES 05/2010 344.90
602- 495- 4300 -000 SEWER OPERATING PROFESSIONAL SERVICES 05/2010 900.00
602 - 495- 4304 -000 SEWER OPERATING MUNICIPAL ENGINEER 05/2010 1,523.19
602- 495- 4321 -000 SEWER OPERATING TELEPHONE 05/2010 50.70
.00
Date: 04/29/2010 Time 14:43:05 City of Lino Lakes
FM Entry - Invoice Journal
Account #
Operator: KKF Page: 8
Description Fiscal Debit Credit
602- 495- 4381 -000
801 - 2022 -000
801- 2023 -000
801- 2300 -000
801 - 2317 -102
801 - 2352 -102
Control
A/P
101 - 2020 -000
201 - 2020 -000
402 - 2020 -000
421- 2020 -000
422 - 2020 -000
423 - 2020 -000
601 - 2020 -000
602 - 2020 -000
801- 2020 -000
Discount
Manual Checks - Cash
101 - 1010 -000
SEWER OPERATING ELECTRICITY 05/2010 1,370.00
Fund Total: 5,599.44 .00
CONTRACTOR'S DEPOSITS POLICE FORFEITURES 05/2010 64.26
CONTRACTOR'S DEPOSITS POLICE DRUG FORFEI 05/2010 627.14
CONTRACTOR'S DEP GENERAL FUND ESCROW 05/2010 2,236.58
The Preserve Engineering 05/2010 135.55
CONTRACTOR'S DEP Circle Lex VFW Engineer 05/2010 338.88
Fund Total: 3,402.41 .00
Grand Totals: 190,395.97 .00
Control Grand Totals: .00 .00
GENERAL FUND ACCOUNTS PAYABLE 05/2010 131,070.22
RECREATION ACCOUNTS PAYABLE 05/2010 4,838.85
CAPITAL EQUIPMENT REVOLVING ACCTS PAY 05/2010 29,742.40
SEAL COATING ACCOUNTS PAYABLE 05/2010 7,036.19
SURFACE WATER MANAGEMENT ACCOUNTS PAYABL 05/2010 1,391.99
STREET RECONSTRUCTION ACCOUNTS PAYABLE 05/2010 83.48
WATER OPERATING ACCOUNTS PAYABLE 05/2010 7,081.72
SEWER OPERATING ACCOUNTS PAYABLE 05/2010 5,599.44
CONTRACTOR'S DEPOSITS ACCOUNTS PAYABLE 05/2010 3,402.41
A/P Grand Totals: .00 190,246.70
Discount Grand Totals: .00 .00
GENERAL FUND CASH 05/2010 149.27
Cash Grand Totals: .00 149.27
•
CENTENNIAL FIRE DISTRICT Check Register - FIRE GL Page: 1
Check Issue Dates: 4/17/2010 - 4/30/2010 Apr 30, 2010 12:09PM
III Report Criteria:
Report type: Summary
•
GL Check Check Vendor
Period Issue Date Number Number
Payee
Description
•
04/10 04/30/2010 4273 10291
04/10 04/30/2010 4274 11565
04/10 04/30/2010 4275 11800
04/10 04/30/2010 4276 20135
04/10 04/30/2010 4277 30485
04/10 04/30/2010 4278 30495
04/10 04/30/2010 4279 50123
04/10 04/30/2010 4280 60025
04/10 04/30/2010 4281 70500
04/10 04/30/2010 4282 70578
04/10 04/30/2010 4283 120331
04/10 04/30/2010 4284 130315
04/10 04/30/2010 4285 170180
04/10 04/30/2010 4286 190500
04/10 04/30/2010 4287 220200
Grand Totals:
ALEXANDRIA TECHNICAL COLL
ASPEN MILLS
AUTO - MEDICS TOWING
BENDLIN FIRE EQUIPMENT CO.
CENTER MART
CITY OF CENTERVILLE
EMERGENCY CONTRACTORS
F.I.R.E., INC
GRAFIX SHOPPE, INC
GRAINGER
LEAGUE OF MN CITIES INS TR
MASS GROUP, INC
QWEST
SIGNS NOW
VERIZON WIRELESS
CERTIFICATES
UNIFORM
TOW
SLINGS/TOOLS
FUEL
PERMIT FEE REIMB
DESK
CAR FIRE RENTAL
EXPEDITION REPAIRS
LAMPS
EXCESS LIABILITY INS 4/10 -4/1
RESCUE RANDY COMBAT CHA
PHONE EXPENSE
HELMET GRAPHICS
CELL PHONES
Check
Amount
235.00
47.29
133.91
638.28
241.03
94.15
427.50
350.00
75.00
301.90
21,647.00
919.64
55.88
1,066.08
220.46
26, 453.12
M = Manual Check, V = Void Check
•
AGENDA ITEM 1 E
STAFF ORIGINATOR: David J. Pecchia
Public Safety Director /Chief of Police
DATE: May 10, 2010
TOPIC:
VOTES REQUIRED:
BACKGROUND
Annual renewal of Otter Lake Animal Control Contract
Simple Majority
We have had Otter Lake Animal Control Center as our contract holder for the past 14
years. Our relationship during this time with the business has been very professional
and we were able to meet the needs of the citizens and the City by utilizing the
provisions of this contract. There are no changes to the contract.
• We request that the contract be renewed for calendar year 2010.
OPTIONS
1 Approve the request to enter into a renewal contract with the Otter Lake Animal
Control Center.
2. Return to staff for further information.
RECOMMENDATION
Option No.1
•
REFUNDING ISSUE
OFFICIAL STATEMENT DATED 4 °RIL 28, 2010
Rating: Requested from Moody's
Investors Service
In the opinion of Kennedy & Graven, Chartered, Bond Counsel, based on present federal and Minnesota laws, regulations, rulings and decisions, and
assuming compliance with certain covenants, interest to be paid on the Bonds is excluded from gross income for federal income tax purposes and from
taxable net income of individuals, estates, and trusts for Minnesota income tax purposes, and is not an item of tax preference for federal or Minnesota
altemative minimum tax purposes. Such interest is included in taxable income for purposes of the Minnesota franchise tax on corporations and financial
institutions and in adjusted current eamings of corporations for federal alternative minimum tax purposes. See "TAX EXEMPTION AND RELATED TAX
CONSIDERATIONS" herein.
$1,015,000*
City of Lino Lakes, Minnesota
General Obligation Improvement and Utility
Revenue Refunding Bonds, Series 2010A
(Book Entry Only)
Dated date: June 1, 2010 Interest Due: Each February 1 and August 1,
commencing February 1, 2011
The Bonds will mature February 1 as follows:
2011 $105,000
2012 $ 95,000
2013 $ 95,000
2014 $ 95,000
2015 $100,000
2016 $100,000
2017 $100,000 2019 $110,000
2018 $105,000 2020 $110,000
Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds and term bonds. All
term bonds shall be subject to mandatory sinking fund redemption at a price of par plus accrued interest to the date of
redemption and must conform to the maturity schedule set forth above.
The Bonds will not be subject to payment in advance of their respective stated maturity dates.
The Bonds will be general obligations of the City for which the City pledges its full faith and credit and power to levy direct
general ad valorem taxes. In addition, the City will pledge special assessments against benefited properties to repay the
Improvement Portion of the Bonds and net revenues of the City's water utility to repay the Revenue Portion of the Bonds.
The proceeds will be used to refund the February 1, 2011 through February 1, 2020 maturities of the City's General
Obligation Improvement and Utility Revenue Bonds, Series 2004A, dated November 15, 2004.
Proposals must be for not less than $1,007,134 and accrued interest on the total principal amount of the Bonds. Proposals
shall specify rates in integral multiples of 5/100 or 1/8 of 1 %. Rates are not required to be in level or ascending order;
however, the rate for any maturity cannot be more than 1°/0 lower than the highest rate of any of the preceding maturities.
Proposals must be accompanied by a good faith deposit in the amount of $10,150 in the form of a certified or cashier's check
payable to the order of the City, a wire transfer, or a Financial Surety Bond, and delivered to Springsted Incorporated prior to
the time proposals will be opened. The Bonds will be awarded on the basis of True Interest Cost (TIC).
The City will designate the Bonds as "qualified tax - exempt obligations" pursuant to Section 265(b)(3) of the Internal
Revenue Code of 1986, as amended. The Bonds will not be subject to the alternative minimum tax for individuals.
The Bonds will be issued as fully registered Bonds without coupons and, when issued, will be registered in the name of
Cede & Co., as nominee of The Depository Trust Company (the "Depository"). The Depository will act as securities
depository of the Bonds. Individual purchases may be made in book entry form only, in the principal amount of $5,000
and integral multiples thereof. Investors will not receive physical certificates representing their interest in the Bonds
purchased. (See "Book Entry System" herein.) U.S. Bank National Association, St. Paul, Minnesota will serve as
registrar (the "Registrar") for the Bonds. Bonds will be available for delivery at DTC on or about June 8, 2010.
Preliminary; subject to change.
PROPOSALS RECEIVED: May 10, 2010 (Monday) until 10:30 A.M., Central Time
AWARD: May 10, 2010 (Monday) at 6:30 P.M., Central Time
Springsted
Further information may be obtained from SPRINGSTED Incorporated,
Financial Advisor to the City, 380 Jackson Street, Suite 300, Saint Paul,
Minnesota 55101 -2887 (651) 223 -3000
For purposes of compliance with Rule 15c2 -12 of the Securities and Exchange Commission,
this document, as the same may be supplemented or corrected by the Issuer from time to time
(collectively, the "Official Statement "), may be treated as an Official Statement with respect to
the Obligations described herein that is deemed final as of the date hereof (or of any such
supplement or correction) by the Issuer, except for the omission of certain information referred
to in the succeeding paragraph.
The Official Statement, when further supplemented by an addendum or addenda specifying the
maturity dates, principal amounts and interest rates of the Obligations, together with any other
information required by law, shall constitute a "Final Official Statement" of the Issuer with
respect to the Obligations, as that term is defined in Rule 15c2 -12. Any such addendum shall,
on and after the date thereof, be fully incorporated herein and made a part hereof by reference.
By awarding the Obligations to any underwriter or underwriting syndicate submitting a Proposal
therefor, the Issuer agrees that, no more than seven business days after the date of such
award, it shall provide without cost to the senior managing underwriter of the syndicate to which
the Obligations are awarded copies of the Official Statement and the addendum or addenda
described in the preceding paragraph in the amount specified in the Terms of Proposal.
The Issuer designates the senior managing underwriter of the syndicate to which the
Obligations are awarded as its agent for purposes of distributing copies of the Final Official
Statement to each Participating Underwriter. Any underwriter delivering a Proposal with respect
to the Obligations agrees thereby that if its bid is accepted by the Issuer (i) it shall accept such
designation and (ii) it shall enter into a contractual relationship with all Participating Underwriters
of the Obligations for purposes of assuring the receipt by each such Participating Underwriter of
the Final Official Statement.
No dealer, broker, salesman or other person has been authorized by the Issuer to give any
information or to make any representations with respect to the Obligations, other than as
contained in the Official Statement or the Final Official Statement, and if given or made, such
other information or representations must not be relied upon as having been authorized by the
Issuer. Certain information contained in the Official Statement and the Final Official Statement
may have been obtained from sources other than records of the Issuer and, while believed to be
reliable, is not guaranteed as to completeness or accuracy. THE INFORMATION AND
EXPRESSIONS OF OPINION IN THE OFFICIAL STATEMENT AND THE FINAL OFFICIAL
STATEMENT ARE SUBJECT TO CHANGE, AND NEITHER THE DELIVERY OF THE
OFFICIAL STATEMENT OR THE FINAL OFFICIAL STATEMENT NOR ANY SALE MADE
UNDER EITHER SUCH DOCUMENT SHALL CREATE ANY IMPLICATION THAT THERE HAS
BEEN NO CHANGE IN THE AFFAIRS OF THE ISSUER SINCE THE DATE THEREOF.
References herein to laws, rules, regulations, resolutions, agreements, reports and other
documents do not purport to be comprehensive or definitive. All references to such documents
are qualified in their entirety by reference to the particular document, the full text of which may
contain qualifications of and exceptions to statements made herein. Where full texts of
documents prepared by or on behalf of the Issuer have not been included as appendices to the
Official Statement or the Final Official Statement, they will be furnished on request.
Any CUSIP numbers for the Obligations included in the Final Official Statement are provided for
convenience of the owners and prospective investors. The CUSIP numbers for the Obligations
have been assigned by an organization unaffiliated with the Issuer. The Issuer is not
responsible for the selection of the CUSIP numbers and makes no representation as to the
accuracy thereof as printed on the Obligations or as set forth in the Final Official Statement. No
assurance can be given that the CUSIP numbers for the Obligations will remain the same after
the date of issuance and delivery of the Obligations.
TABLE OF CONTENTS
Page(s)
Terms of Proposal i -v
Introductory Statement 1
Continuing Disclosure 1
The Bonds 2
Authority and Purpose 4
Security and Financing 5
Future Financing 5
Litigation 5
Legality 5
Tax Exemption 5
Bank Qualified Tax - Exempt Obligations 6
Rating 6
Financial Advisor 7
Certification 7
City Property Values 8
City Indebtedness 9
City Tax Rates, Levies and Collections 13
Funds on Hand 13
City Investments 14
General Information Concerning the City 15
Governmental Organization and Services 17
Proposed Form of Legal Opinion Appendix I
Continuing Disclosure Certificate Appendix II
Summary of Tax Levies, Payment Provisions, and
Minnesota Real Property Valuation Appendix III
Excerpt of 2008 Annual Financial Statements Appendix IV
THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS
ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS:
TERMS OF PROPOSAL
$1,015,000*
CITY OF LINO LAKES, MINNESOTA
GENERAL OBLIGATION IMPROVEMENT AND UTILITY
REVENUE REFUNDING BONDS, SERIES 2010A
(BOOK ENTRY ONLY)
Proposals for the Bonds and the Good Faith Deposit ( "Deposit ") will be received on Monday,
May 10, 2010, until 10:30 A.M., Central Time, at the offices of Springsted Incorporated,
380 Jackson Street, Suite 300, Saint Paul, Minnesota, after which time proposals will be opened
and tabulated. Consideration for award of the Bonds will be by the City Council at 6:30 P.M.,
Central Time, of the same day.
SUBMISSION OF PROPOSALS
Springsted will assume no liability for the inability of the bidder to reach Springsted prior to the
time of sale specified above. All bidders are advised that each Proposal shall be deemed to
constitute a contract between the bidder and the City to purchase the Bonds regardless of the
manner in which the Proposal is submitted.
(a) Sealed Bidding. Proposals may be submitted in a sealed envelope or by fax
(651) 223 -3046 to Springsted. Signed Proposals, without final price or coupons, may be
submitted to Springsted prior to the time of sale. The bidder shall be responsible for submitting
to Springsted the final Proposal price and coupons, by telephone (651) 223 -3000 or fax
(651) 223 -3046 for inclusion in the submitted Proposal.
OR
(b) Electronic Bidding. Notice is hereby given that electronic proposals will be received via
PARITY`. For purposes of the electronic bidding process, the time as maintained by PARITY®
shall constitute the official time with respect to all Bids submitted to PARITY®. Each bidder shall
be solely responsible for making necessary arrangements to access PARITY® for purposes of
submitting its electronic Bid in a timely manner and in compliance with the requirements of the
Terms of Proposal. Neither the City, its agents nor PARITY shall have any duty or obligation to
undertake registration to bid for any prospective bidder or to provide or ensure electronic access
to any qualified prospective bidder, and neither the City, its agents nor PARITY® shall be
responsible for a bidder's failure to register to bid or for any failure in the proper operation of, or
have any liability for any delays or interruptions of or any damages caused by the services of
PARITY''. The City is using the services of PARITY® solely as a communication mechanism to
conduct the electronic bidding for the Bonds, and PARITY® is not an agent of the City.
If any provisions of this Terms of Proposal conflict with information provided by PARITY®, this
Terms of Proposal shall control. Further information about PARITY®, including any fee charged,
may be obtained from:
PARITY®, 1359 Broadway, 2nd Floor, New York, New York 10018
Customer Support: (212) 849 -5000
Preliminary; subject to change.
- i -
DETAILS OF THE BONDS
The Bonds will be dated June 1, 2010, as the date of original issue, and will bear interest
payable on February 1 and August 1 of each year, commencing February 1, 2011. Interest will
be computed on the basis of a 360 -day year of twelve 30 -day months.
The Bonds will mature February 1 in the years and amounts* as follows:
2011 $105,000
2012 $ 95,000
2013 $ 95,000
*
2014 $ 95,000
2015 $100,000
2016 $100,000
2017 $100,000 2019 $110,000
2018 $105,000 2020 $110,000
The City reserves the right, after proposals are opened and prior to award, to increase or reduce the
principal amount of the Bonds or the maturity amounts offered for sale. Any such increase or
reduction will be made in multiples of $5, 000 in any of the maturities. In the event the principal
amount of the Bonds is increased or reduced, any premium offered or any discount taken by the
successful bidder will be increased or reduced by a percentage equal to the percentage by which the
principal amount of the Bonds is increased or reduced.
Proposals for the Bonds may contain a maturity schedule providing for a combination of serial
bonds and term bonds. All term bonds shall be subject to mandatory sinking fund redemption at
a price of par plus accrued interest to the date of redemption and must conform to the maturity
schedule set forth above. In order to designate term bonds, the proposal must specify "Years of
Term Maturities" in the spaces provided on the Proposal Form.
BOOK ENTRY SYSTEM
The Bonds will be issued by means of a book entry system with no physical distribution of
Bonds made to the public. The Bonds will be issued in fully registered form and one Bond,
representing the aggregate principal amount of the Bonds maturing in each year, will be
registered in the name of Cede & Co. as nominee of The Depository Trust Company ( "DTC "),
New York, New York, which will act as securities depository of the Bonds. Individual purchases
of the Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single
maturity through book entries made on the books and records of DTC and its participants.
Principal and interest are payable by the registrar to DTC or its nominee as registered owner of
the Bonds. Transfer of principal and interest payments to participants of DTC will be the
responsibility of DTC; transfer of principal and interest payments to beneficial owners by
participants will be the responsibility of such participants and other nominees of beneficial
owners. The purchaser, as a condition of delivery of the Bonds, will be required to deposit the
Bonds with DTC.
REGISTRAR
The City will name the registrar which shall be subject to applicable SEC regulations. The City
will pay for the services of the registrar.
OPTIONAL REDEMPTION
The Bonds will not be subject to payment in advance of their respective stated maturity dates.
SECURITY AND PURPOSE
The Bonds will be general obligations of the City for which the City will pledge its full faith and
credit and power to levy direct general ad valorem taxes. In addition, the City will pledge special
assessments against benefited properties to repay the Improvement Portion of the Bonds and
net revenues of the City's water utility to repay the Revenue Portion of the Bonds. The
proceeds will be used to refund the February 1, 2011 through February 1, 2020 maturities of the
City's General Obligation Improvement and Utility Revenue Bonds, Series 2004A, dated
November 15, 2004.
BIDDING PARAMETERS
Proposals shall be for not less than $1,007,134 and accrued interest on the total principal
amount of the Bonds.
No proposal can be withdrawn or amended after the time set for receiving proposals unless the
meeting of the City scheduled for award of the Bonds is adjourned, recessed, or continued to
another date without award of the Bonds having been made. Rates shall be in integral multiples
of 5/100 or 1/8 of 1 %. Rates are not required to be in level or ascending order; however, the
rate for any maturity cannot be more than 1% lower than the highest rate of any of the
preceding maturities. Bonds of the same maturity shall bear a single rate from the date of the
Bonds to the date of maturity. No conditional proposals will be accepted.
GOOD FAITH DEPOSIT
Proposals, regardless of method of submission, shall be accompanied by a Deposit in the
amount of $10,150, in the form of a certified or cashier's check, a wire transfer, or Financial
Surety Bond and delivered to Springsted Incorporated prior to the time proposals will be
opened. Each bidder shall be solely responsible for the timely delivery of their Deposit whether
by check, wire transfer or Financial Surety Bond. Neither the City nor Springsted Incorporated
have any liability for delays in the transmission of the Deposit.
Any Deposit made by certified or cashier's check should be made payable to the City and
delivered to Springsted Incorporated, 380 Jackson Street, Suite 300, St. Paul, Minnesota
55101
Any Deposit sent via wire transfer should be sent to Springsted Incorporated as the City's
agent according to the following instructions:
Wells Fargo Bank, N.A., San Francisco, CA 94104
ABA #121000248
For credit to Springsted Incorporated, Account #635- 5007954
Contemporaneously with such wire transfer, the bidder shall send an e-mail to
bond_services @springsted.com, including the following information; (i) indication that a wire
transfer has been made, (11) the amount of the wire transfer, (iii) the issue to which it applies,
and (iv) the return wire instructions if such bidder is not awarded the Bonds.
Any Deposit made by the successful bidder by check or wire transfer will be delivered to the City
following the award of the Bonds. Any Deposit made by check or wire transfer by an
unsuccessful bidder will be returned to such bidder following City action relative to an award of
the Bonds.
If a Financial Surety Bond is used, it must be from an insurance company licensed to issue
such a bond in the State of Minnesota and pre- approved by the City. Such bond must be
submitted to Springsted Incorporated prior to the opening of the proposals. The Financial
Surety Bond must identify each underwriter whose Deposit is guaranteed by such Financial
Surety Bond. If the Bonds are awarded to an underwriter using a Financial Surety Bond, then
that underwriter is required to submit its Deposit to the City in the form of a certified or cashier's
check or wire transfer as instructed by Springsted Incorporated not later than 3:30 P.M., Central
Time on the next business day following the award. If such Deposit is not received by that time,
the Financial Surety Bond may be drawn by the City to satisfy the Deposit requirement.
The Deposit received from the purchaser, the amount of which will be deducted at settlement,
will be deposited by the City and no interest will accrue to the purchaser. In the event the
purchaser fails to comply with the accepted proposal, said amount will be retained by the City.
AWARD
The Bonds will be awarded on the basis of the lowest interest rate to be determined on a true
interest cost (TIC) basis. The City's computation of the interest rate of each proposal, in
accordance with customary practice, will be controlling.
The City will reserve the right to: (i) waive non - substantive informalities of any proposal or of
matters relating to the receipt of proposals and award of the Bonds, (ii) reject all proposals
without cause, and (iii) reject any proposal that the City determines to have failed to comply with
the terms herein.
BOND INSURANCE AT PURCHASER'S OPTION
If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment
therefor at the option of the underwriter, the purchase of any such insurance policy or the
issuance of any such commitment shall be at the sole option and expense of the purchaser of
the Bonds. Any increased costs of issuance of the Bonds resulting from such purchase of
insurance shall be paid by the purchaser, except that, if the City has requested and received a
rating on the Bonds from a rating agency, the City will pay that rating fee. Any other rating
agency fees shall be the responsibility of the purchaser.
Failure of the municipal bond insurer to issue the policy after Bonds have been awarded to the
purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on
the Bonds.
CUSIP NUMBERS
If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the
Bonds, but neither the failure to print such numbers on any Bond nor any error with respect
thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the
Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers
shall be paid by the purchaser.
SETTLEMENT
Within 40 days following the date of their award, the Bonds will be delivered without cost to the
purchaser through DTC in New York, New York. Delivery will be subject to receipt by the
purchaser of an approving legal opinion of Kennedy & Graven, Chartered of Minneapolis,
Minnesota, and of customary closing papers, including a no- litigation certificate. On the date of
settlement, payment for the Bonds shall be made in federal, or equivalent, funds that shall be
received at the offices of the City or its designee not later than 12:00 Noon, Central Time.
Unless compliance with the terms of payment for the Bonds has been made impossible by
action of the City, or its agents, the purchaser shall be liable to the City for any Toss suffered by
the City by reason of the purchaser's non - compliance with said terms for payment.
CONTINUING DISCLOSURE
In accordance with SEC Rule 15c2- 12(b)(5), the City will undertake, pursuant to the resolution
awarding sale of the Bonds, to provide annual reports and notices of certain events. A
description of this undertaking is set forth in the Official Statement. The purchaser's obligation
to purchase the Bonds will be conditioned upon receiving evidence of this undertaking at or prior
to delivery of the Bonds.
OFFICIAL STATEMENT
The City has authorized the preparation of an Official Statement containing pertinent information
relative to the Bonds, and said Official Statement will serve as a nearly final Official Statement
within the meaning of Rule 15c2 -12 of the Securities and Exchange Commission. For copies of
the Official Statement or for any additional information prior to sale, any prospective purchaser
is referred to the Financial Advisor to the City, Springsted Incorporated, 380 Jackson Street,
Suite 300, Saint Paul, Minnesota 55101, telephone (651) 223 -3000.
The Official Statement, when further supplemented by an addendum or addenda specifying the
maturity dates, principal amounts and interest rates of the Bonds, together with any other
information required by law, shall constitute a "Final Official Statement" of the City with respect
to the Bonds, as that term is defined in Rule 15c2 -12. By awarding the Bonds to any
underwriter or underwriting syndicate submitting a proposal therefor, the City agrees that, no
more than seven business days after the date of such award, it shall provide without cost to the
senior managing underwriter of the syndicate to which the Bonds are awarded 40 copies of the
Official Statement and the addendum or addenda described above. The City designates the
senior managing underwriter of the syndicate to which the Bonds are awarded as its agent for
purposes of distributing copies of the Final Official Statement to each Participating Underwriter.
Any underwriter delivering a proposal with respect to the Bonds agrees thereby that if its
proposal is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a
contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring
the receipt by each such Participating Underwriter of the Final Official Statement.
Dated April 12, 2010 BY ORDER OF THE CITY COUNCIL
/s/ Julie Bartell
City Clerk
OFFICIAL STATEMENT
$1,015,000*
CITY OF LINO LAKES, MINNESOTA
GENERAL OBLIGATION IMPROVEMENT AND UTILITY
REVENUE REFUNDING BONDS, SERIES 2010A
(BOOK ENTRY ONLY)
INTRODUCTORY STATEMENT
This Official Statement contains certain information relating to the City of Lino Lakes, Minnesota
(the "City" or the "Issuer") and its issuance of $1,015,000* General Obligation Improvement and
Utility Revenue Refunding Bonds, Series 2010A (the "Bonds," the "Obligations" or the "Issue ").
The Bonds are general obligations of the City for which the City pledges its full faith and credit
and power to levy direct general ad valorem taxes. Additional sources of security for the Bonds
are discussed herein.
Inquiries may be directed to Mr. Alan Rolek, Finance Director, City of Lino Lakes, 600 Town
Parkway, Lino Lakes, Minnesota 55014, by telephoning (952) 982 -2400. Inquiries may also be
made to Springsted Incorporated, 380 Jackson Street, Suite 300, St. Paul, Minnesota
55101 -2887, or by telephoning (651) 223 -3000. If information of a specific legal nature is
desired, requests may be directed to Mr. Stephen Bubul at Kennedy & Graven, Chartered, Bond
Counsel, 470 U.S. Bank Plaza, Minneapolis, Minnesota 55402, or by telephoning (612) 337-
9300.
CONTINUING DISCLOSURE
In order to assist the Underwriters in complying with SEC Rule 15c2 -12 promulgated by the
Securities and Exchange Commission, pursuant to the Securities Exchange Act of 1934, as the
same may be amended from time to time, and official interpretations thereof (the "Rule "),
pursuant to the Award Resolution, the City has entered into an undertaking (the "Undertaking ")
for the benefit of holders including beneficial owners of the Bonds to provide certain financial
information and operating data relating to the City to certain information and operating data
relating to the City to the Electronic Municipal Market Access system ( "EMMA ") annually, and to
provide notices of the occurrence of certain events enumerated in the Rule to EMMA or the
Municipal Securities Rulemaking Board ( "MSRB "). The specific nature of the Undertaking, as
well as the information to be contained in the annual report or the notices of material events is
set forth in the Continuing Disclosure Certificate to be executed and delivered by the City at the
time the Bonds are delivered in substantially the form attached hereto as Appendix II.
The City has never failed to comply in all material respects with any previous undertakings
under the Rule to provide annual reports or notices of material events. A failure by the City to
comply with the Undertaking will not constitute an event of default on the Bonds (although
The City reserves the right, after proposals are opened and prior to award, to increase or reduce the
principal amount of the Bonds or the maturity amounts offered for sale. Any such increase or
reduction will be made in multiples of $5,000 in any of the maturities. In the event the principal
amount of the Bonds is increased or reduced, any premium offered or any discount taken by the
successful bidder will be increased or reduced by a percentage equal to the percentage by which the
principal amount of the Bonds is increased or reduced.
-1-
holders will have any available remedy at law or in equity). Nevertheless, such a failure must be
reported in accordance with the Rule and must be considered by any broker, dealer or
municipal securities dealer before recommending the purchase or sale of the Bonds in the
secondary market. Consequently, such a failure may adversely affect the transferability and
liquidity of the Bonds and their market price.
THE BONDS
General Description
The Bonds are dated as of June 1, 2010 and will mature in the amounts and on the dates
shown on the cover of this Official Statement. The Bonds are being issued in book entry form.
Interest on the Bonds is payable on February 1 and August 1 of each year, commencing
February 1, 2011. Interest on the Bonds will be payable to the holder (initially Cede & Co.)
registered on the books of the Registrar as of the fifteenth day of the calendar month next
preceding such interest payment date. Principal of and interest on the Bonds will be paid as
described in the section herein entitled "Book Entry System." U.S. Bank National Association,
St. Paul, Minnesota will serve as Registrar for the Bonds. The City will pay for registration
services.
Optional Redemption
The Bonds will not be subject to payment in advance of their respective stated maturity dates.
Book Entry System
The Depository Trust Company ( "DTC "), New York, New York, will act as securities depository
for the Obligations. The Obligations will be issued as fully- registered securities registered in the
name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by
an authorized representative of DTC. One fully- registered certificate will be issued for each
maturity of the Obligations, each in the aggregate principal amount of such maturity, and will be
deposited with DTC.
DTC is a limited - purpose trust company organized under the New York Banking Law, a
"banking organization" within the meaning of the New York Banking Law, a member of the
Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform
Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A
of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for securities
that its participants ( "Direct Participants ") deposit with DTC. DTC also facilitates the post -trade
settlement among Direct Participants of sales and other securities transactions in deposited
securities through electronic computerized book -entry transfers and pledges between Direct
Participants' accounts. This eliminates the need for physical movement of securities
certificates. Direct Participants include securities brokers and dealers, banks, trust companies,
clearing corporations, and certain other organizations. DTC is a wholly -owned subsidiary of The
Depository Trust & Clearing Corporation ( "DTCC "). DTCC, in turn, is owned by a number of
Direct Participants of DTC and members of the National Securities Clearing Corporation and
Fixed Income Clearing Corporation all of which are registered clearing agencies. DTCC is
owned by the users of its regulated subsidiaries. Access to the DTC system is also available to
others such as securities brokers and dealers, banks, trust companies and clearing corporations
that clear through or maintain a custodial relationship with a Direct Participant, either directly or
indirectly ( "Indirect Participants "). The DTC Rules applicable to its Participants are on file with
the Securities and Exchange Commission. More information about DTC can be found at
www.dtcc.com and www.dtc.orq.
2
Purchases of Obligations under the DTC system must be made by or through Direct
Participants, which will receive a credit for the Obligations on DTC's records. The ownership
interest of each actual purchaser of each Obligation ( "Beneficial Owner ") is in turn to be
recorded on the Direct and Indirect Participants' records. Beneficial Owners will not receive
written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to
receive written confirmations providing details of the transaction, as well as periodic statements
of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner
entered into the transaction. Transfers of ownership interests in the Obligations are to be
accomplished by entries made on the books of Direct and Indirect Participants acting on behalf
of Beneficial Owners. Beneficial Owners will not receive certificates representing their
ownership interests in the Obligations, except in the event that use of the book -entry system for
the Obligations is discontinued.
To facilitate subsequent transfers, all Obligations deposited by Direct Participants with DTC are
registered in the name of DTC's partnership nominee, Cede & Co., or such other name as may
be requested by an authorized representative of DTC. The deposit of Obligations with DTC and
their registration in the name of Cede & Co. or such other DTC nominee do not effect any
change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the
Obligations; DTC's records reflect only the identity of the Direct Participants to whose accounts
such Obligations are credited, which may or may not be the Beneficial Owners. The Direct and
Indirect Participants will remain responsible for keeping account of their holdings on behalf of
their customers.
Conveyance of notices and other communications by DTC to Direct Participants, by Direct
Participants to Indirect Participants, and by Direct Participants and Indirect Participants to
Beneficial Owners will be governed by arrangements among them, subject to any statutory or
regulatory requirements as may be in effect from time to time. Beneficial Owners of Obligations
may wish to take certain steps to augment the transmission to them of notices of significant
events with respect to the Obligations, such as redemptions, tenders, defaults, and proposed
amendments to the Obligation documents. For example, Beneficial Owners of the Obligations
may wish to ascertain that the nominee holding the Obligations for their benefit has agreed to
obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may
wish to provide their names and addresses to the registrar and request that copies of the
notices be provided directly to them.
Redemption notices are required to be sent to DTC. If less than all of the Obligations within a
maturity are being redeemed, DTC's practice is to determine by lot the amount of the interest of
each Direct Participant in such maturity to be redeemed.
Neither DTC nor Cede & Co. (nor such other DTC nominee) will consent or vote with respect to
the Obligations unless authorized by a Direct Participant in accordance with DTC's procedures.
Under its usual procedures, DTC mails an Omnibus Proxy to the Issuer or Bond Registrar as
soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or
voting rights to those Direct Participants to whose accounts the Obligations are credited on the
record date (identified in a listing attached to the Omnibus Proxy).
Redemption proceeds, distributions, and dividend payments on the Obligations will be made to
Cede & Co. or such other nominee as may be requested by an authorized representative of
DTC. DTC's practice is to credit Direct Participants' accounts, upon DTC's receipt of funds and
corresponding detail information from the Issuer or its agent on the payable date in accordance
with their respective holdings shown on DTC's records. Payments by Participants to Beneficial
Owners will be governed by standing instructions and customary practices, as is the case with
securities held for the accounts of customers in bearer form or registered in "street name," and
will be the responsibility of such Participant and not of DTC, Agent, the Bond Registrar, or the
Issuer, subject to any statutory or regulatory requirements as may be in effect from time to time.
Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such
other nominee as may be requested by an authorized representative of DTC) is the
responsibility of the Bond Registrar, Issuer, or the Issuer's agent. Disbursement of such
-3-
payments to Direct Participants will be the responsibility of DTC, and disbursement of such
payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants.
A Beneficial Owner shall give notice to elect to have its Obligations purchased or tendered,
through its Participant, to Agent, and shall effect delivery of such Obligations by causing the
Direct Participant to transfer the Participant's interest in the Obligations, on DTC's records, to
Agent. The requirement for physical delivery of Obligations in connection with an optional
tender or a mandatory purchase will be deemed satisfied when the ownership rights in the
Obligations are transferred by Direct Participants on DTC's records and followed by a book -
entry credit of tendered Obligations to Trustee's DTC account.
DTC may discontinue providing its services as securities depository with respect to the
Obligations at any time by giving reasonable notice to the Issuer or its agent. Under such
circumstances, in the event that a successor securities depository is not obtained, certificates
are required to be printed and delivered.
The Issuer may decide to discontinue use of the system of book - entry-only transfers through
DTC (or a successor securities depository). In that event, certificates will be printed and
delivered to DTC.
The information in this section concerning DTC and DTC's book -entry system has been
obtained from sources that the Issuer believes to be reliable, but the Issuer takes no
responsibility for the accuracy thereof.
AUTHORITY AND PURPOSE
The Bonds are being issued pursuant to Minnesota Statutes, Chapters 475, 429 and 444.
Proceeds of the Bonds will be used to refund in advance of maturity the February 1, 2011
through February 1, 2020 maturities (the "Refunded Maturities ") of the City's General Obligation
Improvement and Utility Revenue Bonds, Series 2004A, dated November 15, 2004 (the "Series
2004A Bonds "). The refunding is being conducted to achieve debt service savings.
The composition of the Bonds is as follows:
Improvement Revenue
Portion Portion Total
Sources of Funds:
Principal Amount $475,000 $540,000 $1,015,000
Accrued Interest — Series 2004A Bonds 177 203 380
Total Sources of Funds $475,177 $540,203 $1,015,380
Uses of Funds:
Deposit to Current Refunding Fund $457,138 $523,169 $ 980,307
Deposit to Debt Service Fund
Accrued Interest — Series 2004A Bonds 177 203 380
Costs of Issuance 14,181 12,646 26,827
Allowance for Discount Bidding 3,681 4,185 7,866
Total Uses of Funds $475,177 $540,203 $1,015,380
The Bonds will constitute a "current" refunding since the Refunded Maturities will be called
within 90 days of settlement of the Bonds. The Refunded Maturities will be called and prepaid
on July 1, 2010 at a price of par plus accrued interest.
SECURITY AND FINANCING
The Bonds are general obligations of the City for which the City pledges its full faith and
credit and power to levy direct general ad valorem taxes. In addition, the City will pledge special
assessments against benefited properties to repay the Improvement Portion of the Bonds and
net revenues of the City's water utility (the "Net Revenues ") to repay the Revenue Portion of the
Bonds.
Pursuant to Minnesota Statutes, Chapter 444 and the resolution awarding the Revenue Portion
of the Bonds, the City will covenant to maintain user rates sufficient to collect revenues
adequate to support the operation of the water utility and to pay debt service on the Revenue
Portion of the Bonds. The City is required to annually review its budget for the utilities to
determine if current rates and charges are sufficient and to adjust such rates and charges as
necessary.
Special assessments and Net Revenues previously collected and pledged to the Series 2004A
Bonds will be used to make the February 1, 2011 interest payment. Thereafter, each year's
collections of special assessments and net revenues, if collected in full, will be sufficient to pay
105% of the interest due on August 1 of the collection year and the principal and interest due
February 1 of the following year. The City does not anticipate the need to levy taxes for
repayment of the Bonds.
FUTURE FINANCING
The City does not anticipate any additional borrowing within the next 90 days.
LITIGATION
The City is not aware of any threatened or pending litigation affecting the validity of the Bonds or
the City's ability to meet its financial obligations.
LEGALITY
The Bonds are subject to approval as to certain matters by Kennedy & Graven, Chartered, of
Minneapolis, Minnesota as Bond Counsel. Kennedy & Graven also serves as City Attorney.
Bond Counsel has not participated in the preparation of this Official Statement and will not pass
upon its accuracy, completeness, or sufficiency. Bond Counsel has not examined nor
attempted to examine or verify, any of the financial or statistical statements, or data contained in
this Official Statement and will express no opinion with respect thereto. A legal opinion in
substantially the form set out as Appendix I to this Official Statement will be delivered at closing.
TAX EXEMPTION
in the opinion of Bond Counsel, under existing statutes, regulations, rulings and decisions, interest
on the Bonds is not includable in the gross income of the owners thereof for purposes of federal
income taxation and is not includable in net taxable income of individuals, estates or trusts for
purposes of State of Minnesota income taxation, but is subject to State of Minnesota franchise
taxes measured by income that are imposed upon corporations and financial institutions.
5
Noncompliance following the issuance of the Bonds with certain requirements of the Internal
Revenue Code of 1986, as amended, (the "Code ") and covenants of the bond resolution may
result in the inclusion of interest on the Bonds in gross income for federal tax purposes and net
taxable income for State of Minnesota income tax purposes of the owners thereof. No provision
has been made for redemption of the Bonds, or for an increase in the interest rate on the
Bonds, in the event that interest on the Bonds becomes subject to federal or State of Minnesota
income taxation.
The Code imposes an alternative minimum tax with respect to individuals and corporations on
alternative minimum taxable income. Interest on the Bonds will not be treated as a preference
item in calculating alternative minimum taxable income.
The Code provides that in the case of an insurance company subject to the tax imposed by
Section 831 of the Code, the amount which otherwise would be taken into account as "losses
incurred" under Section 832(b)(5) shall be reduced by an amount equal to 15% of the interest
on the Bonds that is received or accrued during the taxable year.
Interest on the Bonds may be included in the income of a foreign corporation for purposes of the
branch profits tax imposed by Section 884 of the Code. Under certain circumstances, interest
on the Bonds may be subject to the tax on "excess net passive income" of Subchapter S
corporations imposed by Section 1375 of the Code.
The above is not a comprehensive list of all federal tax consequences which may arise from the
receipt of interest on the Bonds. The receipt of interest on the Bonds may otherwise affect the
federal or State of Minnesota income tax liability of the recipient based on the particular taxes to
which the recipient is subject and the particular tax status of other items or deductions. Bond
Counsel expresses no opinion regarding any such consequences. All prospective purchasers
of the Bonds are advised to consult their own tax advisors as to the tax consequences of, or tax
considerations for, purchasing or holding the Bonds.
BANK- QUALIFIED TAX- EXEMPT OBLIGATIONS
The City will designate the Bonds as "qualified tax - exempt obligations" for purposes of
Section 265(b)(3) of the Internal Revenue Code of 1986, as amended, relating to the ability of
financial institutions to deduct from income for federal income tax purposes, interest expense
that is allocable to carrying and acquiring tax - exempt obligations.
RATING
An application for a rating of the Bonds has been made to Moody's Investors Service
( "Moody's "), 7 World Trade Center, 250 Greenwich Street, 23rd Floor, New York, New York. If a
rating is assigned, it will reflect only the opinion of Moody's. Any explanation of the significance
of the rating may be obtained only from Moody's.
There is no assurance that a rating, if assigned, will continue for any given period of time, or that
such rating will not be revised or withdrawn if, in the judgment of Moody's, circumstances so
warrant. A revision or withdrawal of the rating may have an adverse effect on the market price
of the Bonds.
6
FINANCIAL ADVISOR
The City has retained Springsted Incorporated, Public Sector Advisors, of St. Paul, Minnesota,
as financial advisor (the "Financial Advisor") in connection with the issuance of the Bonds. In
preparing the Official Statement, the Financial Advisor has relied upon governmental officials,
and other sources, who have access to relevant data to provide accurate information for the
Official Statement, and the Financial Advisor has not been engaged, nor has it undertaken, to
independently verify the accuracy of such information. The Financial Advisor is not a public
accounting firm and has not been engaged by the City to compile, review, examine or audit any
information in the Official Statement in accordance with accounting standards. The Financial
Advisor is an independent advisory firm and is not engaged in the business of underwriting,
trading or distributing municipal securities or other public securities and therefore will not
participate in the underwriting of the Bonds.
CERTIFICATION
The City has authorized the distribution of this Official Statement for use in connection with the
initial sale of the Bonds. As of the date of the settlement of the Bonds, the Purchaser will be
furnished with a certificate signed by the appropriate officers of the City. The certificate will
state that as of the date of the Official Statement, the Official Statement did not and does not as
of the date of the certificate contain any untrue statement of material fact or omit to state a
material fact necessary in order to make the statements made therein, in Tight of the
circumstances under which they were made, not misleading.
(The Balance of This Page Has Been Intentionally Left Blank)
7
CITY PROPERTY VALUES
2009 Indicated Market Value of Taxable Property: $2,125,148,195*
Indicated market value is calculated by dividing the taxable market value of $2,001,889,600 by the
2008 sales ratio of 94.2% for the City as determined by the State Department of Revenue. (2009
sales ratio not yet available.) Excludes mobile home valuation of $2,423,700.
2009 Taxable Net Tax Capacity: $22,878,968*
2009 Net Tax Capacity
Less: Captured Tax Increment Tax Capacity
Contribution to Fiscal Disparities
Plus: Distribution from Fiscal Disparities
$22,070,825
(327,659)
(1,697,800)
2,833,602
2009 Taxable Net Tax Capacity $22,878,968
Excludes mobile home valuation of $24,237.
2009 Taxable Net Tax Capacity by Class of Property(a)
(a)
(b)
Real Estate:
Residential Homestead
Commercial /Industrial and Public Utility(b)
Residential Non - Homestead
Agricultural and Residential
Seasonal /Recreational
Personal Property
Total
$16,116,264
4,608,147
1,421,454
441,199
291,904
$22,878,968
Reflects adjustments for fiscal disparities and captured tax increment tax capacity.
Excludes mobile home valuation of $24,237.
Trend of Values
(a)
(b)
2009
2008
2007
2006
2005
Indicated
Market Value(a)
$2,125,148,195
2,231,924,628
2,214,634,173
2,156, 384,228
1,984,345,309
70.5%
20.1
6.2
1.9
1.3
100.0%
Taxable Taxable Net
Market Value Tax Capacity(b)
$2,001,889,600
2,102,473,000
2,021, 961,000
1, 927, 807, 500
1,734,317,800
$22,878,968
23, 850, 329
22, 753, 983
21,550,395
19,233,726
Indicated market values are calculated by dividing the County Auditor's taxable market value by the
aggregate sales ratio as certified for the City each year by the State Department of Revenue.
See Appendix 111 for an explanation of taxable net tax capacity and the Minnesota property tax
system.
Ten of the Largest Taxpayers
Taxpayer
Target Corporation
Lino Lakes Realty LLC
Marshall Investment Corp.
Molin Concrete Products Co.
ECC Lino Lakes LLC
Xcel Energy
Kohl's Department Store
Taylor Corporation
Royal Oaks Realty Inc.
F &G Incorporated
Total
Type of Property
Retail
Commercial /Industrial
Commercial /Industrial
Concrete Products
Commercial
Utility
Retail
Promotional /Printing Products
Residential
Commercial /Industrial
Represents 7.0% of the City's 2009 taxable net tax capacity.
CITY INDEBTEDNESS
Legal Debt Limit*
Legal Debt Limit (3% of Taxable Market Value)
Less: Outstanding Debt Subject to Limit
Legal Debt Margin as of February 28, 2010
2009 Net
Tax Capacity
$ 254,772
242,114
164,371
150,370
147,060
141,737
140,438
132,706
115,350
108,700
$1,597,618*
$60,056,688
(7,877,000)
$52,179,688
The legal debt margin is referred to statutorily as the "Net Debt Limit" and permits debt to be offset by
debt service funds and current revenues which are applicable to the payment of debt in the current
fiscal year. however, to conservatively state the limit no such offset has been used to increase the
legal debt margin as shown above.
General Obligation Debt Supported by Taxes(a)
Date Original
of Issue Amount
11 -1 -06 $2,990,000
2 -1 -07 160,000
2 -1 -08 209,000
5 -1 -09 336,000
12 -9 -09 4,260,000
2 -1 -10 170,000
Total
Purpose
CIP Refunding
Equipment Certificates
Equipment Certificates
Equipment Certificates
Capital Improvement
Equipment Certificates
Final
Maturity
2 -1 -2018
12 -31 -2010
12 -31 -2011
12 -31 -2012
2 -1 -2025
12 -31 -2013
Principal
Outstanding
As of 2 -28 -10
$2,910,000
55,000
146,000
336,000
4,260,00003)
170,000
$7,877,000
(a) These issues are subject to the statutory debt limit.
(b) This issue will be repaid by the City pursuant to a Joint Powers Agreement between Anoka County
and the City.
9
General Obligation Debt Supported Primarily by Special Assessments*
Date Original
of Issue Amount
7 -1 -02 $ 645,000
7 -1 -02 2,110,000
12 -1 -03 250,000
12 -1 -03 2,090,000
11 -1 -05 5,550,000
11 -1 -05 3,755,000
6 -1 -10 475,000
Total
Purpose
Improvements
Taxable Improvements
Taxable Improvements
Improvement and Refunding Bonds
Taxable Improvements
Improvement Refunding
Improvement Refunding
(the Improvement Portion of the
Excludes the Improvement Portion of the Refunded Maturities.
Final
Maturity
2 -1 -2013
2 -1 -2013
2 -1 -2014
2 -1 -2019
2 -1 -2021
2 -1 -2015
2 -1 -2020
Bonds)
General Obligation Debt Supported by Tax Increments and Tax Abatements
Date Original
of Issue Amount
8 -15 -06 $2,460,000
7 -15 -07 4,215,000
Purpose
Tax Abatement
Tax Increment
Total
General Obligation Debt Supported by Revenues*
Date Original
of Issue Amount Purpose
8 -15 -06
11 -01 -06
6 -1 -10
Total
$ 570,000
1,740,000
540,000
Principal
Outstanding
As of 2 -28 -10
$ 85,000
750,000
125,000
605,000
4,495,000
2,115, 000
475,000
$8,650,000
Principal
Final Outstanding
Maturity As of 2 -28 -10
2 -1 -2023 $2,460,000
2 -1 -2024 3,875,000
$6,335,000
Final
Maturity
Water and Sewer Revenue 2 -1 -2017
Water Revenue Refunding 2 -1 -2012
Water Revenue Refunding 2 -1 -2020
(the Revenue Portion of the Bonds)
Excludes the Revenue Portion of the Refunded Maturities.
Principal
Outstanding
As of 2 -28 -10
$ 420,000
795,000
540.000
$1,755,000
Annual Calendar Year Debt Service Payments Including This Issue
and Excluding the Refunded Maturities
G.O. Debt Supported
by Taxes
Year Principal
2010 (at 2 -28) $ 231,000
2011 545,000
2012 496,000
2013 415,000
2014 360,000
2015 720,000
2016 755,000
2017 795,000
2018 830,000
2019 420,000
2020 430,000
2021 445,000
2022 460,000
2023 480,000
2024 495,000
Total
Principal
& Interest
$ 411,615.33
826,405.00
752, 290.00
652, 510.00
581,410.00
927, 010.00
932, 810.00
942,110.00
944, 910.00
514, 260.00
511,135.00
511, 945.00
511,815.00
515,715.00
513,315.00
$7,877,000(b) $10,049,255.33
G.O. Debt Supported
by Tax Increments
and Tax Abatements
Year Principal
2010 (at 2 -28) (Paid) $
2011 $ 245,000
2012 350,000
2013 410,000
2014 485,000
2015 515,000
2016 550,000
2017 590,000
2018 395,000
2019 425,000
2020 465,000
2021 500,000
2022 540,000
2023 585,000
2024 280.000
Principal
& Interest
129, 673.13
499,446.26
592, 546.26
637, 346.26
694,446.26
704, 368.76
717,906.26
734,783.76
519,590.01
532,652.51
554,258.76
569,308.76
587,606.26
608,895.63
285,775.00
Total $6,335,000(e) $8,368,603.88
(a)
(b)
(c)
(d)
(e)
G.O. Debt Supported Primarily
by Special Assessments
Principal
Principal & Interest(a)
(Paid) $ 198,271.25
$1,140,000 1,522,637.09
1,165, 000 1,496,157.50
1,200,000 1,476,397.50
930,000 1,154,775.00
915,000 1, 095, 750.00
520,000 667,087.50
540,000 662,573.75
570,000 666,591.25
600,000 668,645.00
545,000 585,571.25
525,000 538,518.75
$8,650,000(C) $10,732,975.84
G.O. Debt Supported
by Revenues
Principal
(Paid)
$ 495,000
510,000
110,000
115,000
110,000
115,000
125,000
55,000
60,000
60,000
Principal
& Interest(d)
$ 22,921.88
544, 823.35
541,275.63
131,172.50
133,108.75
124, 852.50
126,311.25
132, 298.75
59,416.25
62,775.00
60, 945.00
$1,755,000 $1,939,900.86
Includes the Improvement Portion of the Bonds at an assumed annual interest rate of 2.40 %, and
excludes the Improvement Portion of the Refunded Maturities.
70.7% of this debt will be retired within ten years.
93.9% of this debt will be retired within ten years.
Includes the Revenue Portion of the Bonds at an assumed average annual interest rate of 2.40% and
excludes the Revenue Portion of the Refunded Maturities.
69.9% of this debt will be retired within ten years.
Indirect Debt
2009 Taxable
Taxing Unit(a) Net Tax Capacity
Anoka County $ 350,143,958
ISD No. 12 (Centennial) 32,930,130
ISD No. 624 (White Bear Lake) 81,026,848(d)
ISD No. 831 (Forest Lake) 59,948,023(d)
Metropolitan Council 3,648,146,926(d)
Metropolitan Transit District 3,094,244,409(d)
Total
(a)
(b)
(c)
(d)
(e)
G.O. Debt
As of 2- 28 -10(b)
$121,740,000(c)
68,185,000
110,490,000
35,735,000
243,385, 000(e)
173,975,000
Debt Applicable to
Tax Capacity in City
Percent Amount
6.5%
47.4
3.6
7.9
0.6
0.7
$ 7,913,100
32,319,690
3,977,640
2,823,065
1,460,310
1,217,825
$49,711,630
Only those taxing units with general obligation debt outstanding are included here.
Excludes general obligation debt supported by revenues and annual allotments of state -aid and
revenue debt, but includes long -term lease obligations.
Includes $630, 000 of various public project revenue refunding bonds issued by the City of Blaine
Economic Development Authority, all of which are payable solely by the County pursuant to a lease
agreement between the County and the various public entities.
2008 Taxable net tax capacity figures. 2009 Taxable net tax capacity figures not yet available.
Excludes general obligation debt supported by sanitary sewer revenues, 911 user fees, and housing
rental payments. Includes certificates of participation.
Debt Ratios
To 2009 Indicated Market Value ($2,125,148,195)
Per Capita (19,987 -2008 Metropolitan Council estimate)
Excludes general obligation debt supported by revenues.
G.O. Net
Direct Debt*
G.O. Indirect &
Net Direct Debt*
0.96% 3.30%
$1,023 $3,510
CITY TAX RATES, LEVIES AND COLLECTIONS
Tax Capacity Rates for a City Resident in Independent School District No. 12
Anoka County(a)
City of Lino Lakes
ISD No. 12
(Centennial)(b)
Special Districts(c)
Total
(a)
(b)
(c)
2009/10
For
2005/06 2006/07 2007/08 2008/09 Total Debt Only
32.543% 31.094% 31.453% 32.445% 35.574% 5.404%
41.398 38.994 38.967 38.733 37.905 3.819
40.187 38.090 35.258 34.593 37.285 25.889
6.032 5.180 6.581 5.244 5.494 2.023
120.160% 113.358% 112.259% 111.015% 116.258% 37.135%
Includes Anoka County Library and County /City Radio.
Independent School District No. 12 (Centennial) also has a 2009/10 tax rate of 0.15756% spread on
the market value of property in support of an excess operating levy.
Special districts include Metropolitan Council, Metropolitan Transit District, Metropolitan Mosquito
Control, Rice Creek Watershed, and Anoka County Railroad Authority.
NOTE: Property taxes are determined by multiplying the net tax capacity by the tax capacity rate, plus
multiplying the referendum market value by the market value rate. This table does not include
market value based rates. See Appendix Ill.
Tax Levies and Collections
Net
Levy /Collect Levy*
Collected During Collected and /or Abated
Collection Year As of 12 -31 -09
Amount Percent Amount Percent
2009/10 $8,695,414 (In Process of Collection)
2008/09 9,004,252 $8,721,580 96.9% $8,728,348 96.9%
2007/08 8,626,251 8,449,570 98.0 8,538,373 99.0
2006/07 8,207,324 8,065,523 98.3 8,172,870 99.6
2005/06 7,694,442 7,588,163 98.6 7,680,407 99.8
The net levy excludes state aid for property tax relief and fiscal disparities, if applicable. The net levy
is the basis for computing tax capacity rates. See Appendix 11!.
FUNDS ON HAND
As of February 28, 2010
Fund
Cash and Investments
General Fund $ 3,790,584
Special Revenue 107,829
Capital Projects 8,183,637
Enterprise Funds 8,836,698
Debt Service Fund 2,411,178
Agency Funds 957,518
Total
- 13 -
$24,287,444
CITY INVESTMENTS
As of February 28, 2010, the City had a total of $24,287,444, invested in the following manner:
Percent of
Portfolio
Checking /CDs /money market $15,539,296 63.98%
U.S. treasuries and agencies 5,484,845 22.58
Government mutual funds 1,640,889 6.76
Bonds 1,622,414 6.68
Total $24,287,444 100.00%
In October 1997, the City adopted an investment policy that is in accordance with Minnesota
Statutes 118A. Some highlights of the City's investment policy are as follows:
1. The primary objective is the safety of the principal. Investments shall be undertaken
in a manner that seeks to ensure the preservation of capital in the overall portfolio.
The objective will be to mitigate credit risks and interest rate risk.
a. Investments will be limited to those investments specified in Minnesota
Statutes 118A.
b. Annually appointing the financial institutions, brokers /dealers, intermediaries
and advisors.
c. Diversifying the investment portfolio so that potential losses on individual
securities will be minimized.
d. Investing funds in primarily shorter -term securities.
2. The secondary objective is to have the portfolio remain sufficiently liquid to meet all
operating requirements that may be reasonably anticipated.
3. The third objective is to attain a market rate of return through budgetary and economic
cycles, taking into account the investment risk constraints and liquidity needs.
4. The Finance Director and his /her appointed employees in case of unavailability are
authorized to manage the investment program. A system of internal controls shall be
followed and shall be designed to prevent losses from theft or misuse to provide
reasonable assurance that the objectives are met.
5. The Finance Director will prepare an investment report monthly for the City
Administrator.
6. All City Funds must be invested with financial institutions authorized to provide
investment services per statute 118A.06, with representatives who are licensed and
with institutions which have a minimum capital requirement of $5 million and at least
five years of operation.
GENERAL INFORMATION CONCERNING THE CITY
Lino Lakes is located in southeast Anoka County, approximately 20 miles north of St. Paul. The
City is part of the Minneapolis /St. Paul Metropolitan Area and covers an area of approximately
33 square miles (21,120 acres). Two major Twin Cities freeways, I -35E and I -35W, and
Minnesota Highway 49 traverse the community. The following table shows the City's recent
population increases:
2008 (Metropolitan Council Estimate)
2000 (U.S. Census)
1990 (U.S. Census)
1980 (U.S. Census)
1970 (U.S. Census)
Employment
Major employers in the City include the following:
Employer
State of Minnesota Correctional Facility
Target Corporation
Taylor Corporation
Molin Concrete Products Co.
Anoka County Juvenile Center
Rehbein Transit Inc.
City of Lino Lakes
Nol -Tec Systems, Inc.
Population
19,987
16,791
8,807
4,966
3,692
Product/Service
Medium security prison
Retail
Promotional /printing products
Concrete products
Juvenile detention center
Bus transportation
Government
Pneumatic conveyors
Total includes both full -time and part -time employees.
Source: Telephone survey of individual employers, April 2010.
Labor Force Data
Anoka County
Mpls. /St. Paul MSA
State of Minnesota
March 2010
Civilian Unemployment
Labor Force Rate
192,571
1,854,129
2,972,731
8.6%
7.8
8.2
Increase
19.0%
90.7
77.3
34.5
Approximate
Number
of Employees
500
271
190
179
149*
120
74
56
March 2009
Civilian Unemployment
Labor Force Rate
191,587
1,842,718
2,950,587
9.4%
8.4
8.9
Source: Minnesota Department of Employment and Economic Development. 2010 data are preliminary.
Summary of Building Permits
Total Permits New Single Family Homes
Number Value Number Value
2010 (at 2 -28) 78 $ 440,048 1 $ 263,835
2009 1,535* 9,586,160 28 6,000,984
2008 5,041* 15,852,780 29 6,514,509
2007 2,297* 30,539,559 92 17,421,761
2006 686 42, 078, 007 91 15, 910,108
2005 837 53,656,592 196 37,604,938
2004 835 61,579,910 190 39,006,745
2003 826 55,864,076 112 25,687,000
2002 860 53,977,610 218 39,425,255
2001 1,042 74,974,042 210 39,695,169
Includes storm repair permits.
The economic development effort established in 1993 by the City Council has begun to have an
impact in the diversity of the City's tax base. Since 1993, the City has added more than
$108 million in additional commercial /industrial market value. The Apollo Business Park on
I -35W is complete, with a Pomp's Tire and a Hampton Inn hotel. The Clearwater Creek
Development Center on I -35E continues to attract industrial development. The commercial
retail center on Lake Drive and Apollo Drive in the Town Center area, known as the Lino Lakes
Marketplace, has continued to develop. Two anchor tenants, Target and Kohl's Department
Store, both were completed and opened in 2002. A Dairy Queen Grill `n Chill restaurant was
completed and opened in 2003, and a Discount Tire store opened in mid -2004. Three retail
buildings of approximately 6,000 square -feet each were added to the area during 2005. A Wells
Fargo branch bank was constructed in 2005 and SMW Credit Union opened in 2007.
The City initiated an Alternative Urban Areawide Review (AUAR) in 2005 of more than 4,000
acres in the northeast quadrant of the City — which includes the property in the I -35E corridor —
to assess the impact of future development scenarios in this area. The AUAR provides clear
direction for future development regarding environmental and transportation improvements that
will be needed, relieving development interests of project -by- project environmental
assessments. The City and Anoka County, with financial assistance from the American
Recovery and Reinvestment Act, began reconstruction of the 35E /County Road 14 interchange
in 2010. The project is expected to be completed in 2011.
The City entered into an agreement with a master developer in 2004 to complete development
of 40 acres in the southeast quadrant of I -35W /Lake Drive. The mixed -use development is
intended to include diverse opportunities for housing, retail and office uses. To date, the
development includes the Lino Lakes Civic Complex — which houses the city hall, police station
and school district early childhood center — the Chain of Lakes YMCA which opened in 2007, a
60 -unit workforce housing project, 13,000 square feet of leasable commercial space, and a
former hotel, which is planned to be converted into an assisted living facility. Anoka County has
plans to build a new regional library across the street from the development site. However, the
deep economic recession has stalled housing and commercial plans in the development and
has forced the remaining 26 acres into foreclosure and potential tax forfeiture. The City is
working with investors to be prepared to market the property when the economy turns.
To facilitate this development, street, streetscape, water, sewer and storm water improvements
were installed, as well as a small community park. Improvements to Lake Drive and
construction of a new interchange at 35W /County Road 23 were completed in 2008.
Residential Development
The following table shows projected lot development in existing subdivisions for single - family
homes:
Subdivision
As of February 28, 2010
Total Lots Lots Remaining
Byrne Langer 2 2
Century Farm North 58 3
Century Farm North 2nd Addition 65 8
Century Farm North 3rd Addition 52 11
Century Farm North 4th Addition 43 27
Foxborough 57 45
Grandview 8 7
Hailey Manor 14 1
Highland Meadows East 2nd Addition 18 6
Junes Addition 4 1
Marshan Estates 4 2
Marshan Meadows 20 15
Millers Crossroads 107 6
Millers Crossroads 2nd Addition 50 10
Millers Crossroads 3rd Addition 32 1
Oakwood View Addition 10 5
Pheasant Hills Preserve 8th Addition 16 1
Pine Glen 35 8
Pine Glen 2nd Addition 37 19
Raven's Hollow 56 12
Stoneybrook 103 2
Turnberry Crossing (Marshan Townhomes 2nd) 23 20
Vaughan Addition 5 4
West Shadow Ponds 2nd Addition 2 1
Education
City residents are served by three school districts. The majority of the City's value lies within
Independent School District No. 12 (Centennial) and Independent School District No. 831
(Forest Lake), with a small portion in Independent School District No. 624 (White Bear Lake).
The 2009/10 enrollment for Independent School District No. 12 was 6,783 students; for
Independent School District No. 831, it was 6,923.
GOVERNMENTAL ORGANIZATION AND SERVICES
Lino Lakes was incorporated as a village in 1955, became a statutory city on January 1, 1974
and is now governed by a Home Rule Charter as adopted on January 12, 1982. The City is
governed by a Mayor and four Council members. The Mayor is elected to a two -year term of
office and Council members are elected to four -year terms. The Council is currently comprised
of the following members:
Expiration of Term
Jeff Reinert Mayor December 31, 2011
Kathy Gallup Council Member December 31, 2011
Jeff O'Donnell Council Member December 31, 2013
Rob Rafferty Council Member December 31, 2013
Dave Roeser Council Member December 31, 2011
- 17 -
The Acting City Administrator, Mr. Daniel Tesch, is responsible for administration of City policy.
Mr. Tesch has been with the City since November 1985. The City's Finance Director is Mr. Alan
Rolek, who has been with the City since April 2000.
The City currently employs 67 full -time and 7 part -time personnel. Police protection is provided
by 27 sworn police officers. Fire protection is provided by the Centennial Fire District which is
comprised of the cities of Lino Lakes, Circle Pines, and Centerville. The District has a volunteer
force of 52 members. The City has a class 5 insurance rating.
Lino Lakes has established a Comprehensive Plan to direct all areas of growth within the City.
The plan was approved by the Metropolitan Council in 1981 and was amended in
1987, 1990, 1991, 1992, and 2001. Further refinements are currently under review.
Eighteen parks and playgrounds are maintained by the City and include ball fields, hockey and
skating rinks, playground and picnic facilities, and 29 miles of trails. Anoka County owns a
2,500 -acre park and an 18 -hole golf course within the City.
The City currently provides municipal sewer and water through the operation of four wells, two
water towers, and four lift stations. The City currently has 4,486 users of its sewer system and
4,341 users of its water system. The City has established a policy that provides that municipal
water services will be extended only to sewered areas.
Employee Pensions
All full -time and certain part-time employees of the City of Lino Lakes are covered by defined
benefit pension plans administered by the Public Employees Retirement Association of
Minnesota (PERA). PERA administers the Public Employees Retirement Fund (PERF) and the
Public Employees Police and Fire Fund (PEPFF), which are cost - sharing multiple - employer
retirement plans. PERF members belong to either the Coordinated Plan or the Basic Plan.
Coordinated members are covered by Social Security and Basic members are not. All new
members must participate in the Coordinated Plan. All police officers, fire fighters and peace
officers who qualify for membership by statute are covered by the PEPFF. The City's
contributions to the PERF for the years ended December 31, 2008, 2007, and 2006 were
$183,456, $172,504, and $156,599, respectively. The City's contributions to the PEPFF for the
years ended December 31, 2008, 2007, and 2006 were $268,569, $219,592, and $187,212,
respectively. The City's contributions were equal to the contractually required contributions for
each year as set by state statute.
Other Post - Employment Benefits
The Governmental Accounting Standards Board (GASB) has issued Statement No. 45,
Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than
Pensions (GASB 45), which addresses how state and local governments must account for and
report their obligations related to post - employment healthcare and other non - pension benefits
(referred to as Other Post Employment Benefits or "OPEB "). GASB 45 requires that local
governments account for and report the annual cost of OPEB and the outstanding obligations
and commitments related to OPEB in essentially the same manner as they currently do for
pensions.
The City employees, except for public safety employee or families of public safety employees
disabled or killed in the line of duty, as required by Minnesota Statutes. Employees leaving
employment may continue insurance coverage under COBRA, and early retirees may continue
insurance coverage, per Minnesota Statues, at their own expense, until age 65. Therefore, the
City's greatest liability under GASB 45 comes through an implicit rate subsidy. The implicit rate
subsidy is the additional cost of health insurance to current employees and the City as a result
of the higher cost of providing health insurance to retirees. The City quantifies this liability
through actuarial estimate and discloses it in the notes to the financial statements.
-18-
The City funds its OPEB obligation on a pay -as- you -go basis. For fiscal year 2008, the City
contributed $18,671 to the plan. The City's fiscal year ended December 31, 2008 annual OPEB
cost was $41,152, the percentage of the annual OPEB cost contributed to the plan of 45.4%
and the net obligation of $22.481.
As of January 31, 2008, the most recent actuarial valuation date, the City's unfunded actuarial
accrued liability (UAAL) was $329,191. The annual payroll for active employees covered by the
plan in the actuarial valuation was $4,859,980 for a ratio of UAAL to covered payroll of 6.8 %.
General Fund Budget
Adopted 2009 Adopted 2010
Budget Budget
Revenues:
Property Taxes $ 8,130,172 $7,680,232
Licenses and permits 491,050 396,250
Intergovernmental 652,000 570,323
Charges for services 11,500 10,950
Public Safety 231,000 268,000
Fines and forfeits 130,000 130,000
Investment earnings 175,000 93,000
Administrative Charges 65,000 60,000
Miscellaneous 179,000 253,000
Total General Fund Revenues $10.064,722 $9,461.755
Expenditures:
Administration $ 1,365,223 $1,263,540
Community Development 1,049,435 971,395
Public Safety 4,094,285 3,947,962
Public Services 2,901,647 2,647,007
Contingency /Other 654,132 631,851
Total General Fund Expenditures $10,064 722 $9,461.755
PROPOSED FORM OF LEGAL OPINION
Offices in 470 U.S. Bank Plaza
Kennedy 200 South Sixth Street
Minneapolis Minneapolis MN 55402
Saint Paul (612) 337 -9300 telephone
Graven (612) 337 -9310 fax
V l `, Y ell St. Cloud http: / /www.kennedy- graven.com
Affirmative Action Equal Opportunity Employer
CHARTERED
General Obligation Improvement and Utility Revenue
Refunding Bonds, Series 2010A
City of Lino Lakes
Anoka County, Minnesota
APPENDIX I
We have acted as bond counsel to the City of Lino Lakes, Anoka County, Minnesota (the "Issuer ") in
connection with the issuance by the Issuer of its General Obligation Improvement and Utility Revenue Refunding Bonds,
Series 2010A (the "Bonds "), originally dated as of June 1, 2010, and issued in the original aggregate principal amount of
$ . In such capacity and for the purpose of rendering this opinion we have examined certified copies of certain
proceedings, certifications and other documents, and applicable laws as we have deemed necessary. Regarding questions of fact
material to this opinion, we have relied on certified proceedings and other certifications of public officials and other documents
furnished to us without undertaking to verify the same by independent investigation. Under existing laws, regulations, rulings
and decisions in effect on the date hereof, and based on the foregoing we are of the opinion that:
1.The Bonds have been duly authorized and executed, and are valid and binding general obligations of the Issuer,
enforceable in accordance with their terms.
2.The principal of and interest on the Bonds are payable in part from special assessments levied or to be levied on
property specially benefited by local improvements and in part from revenues of the water utility system of the Issuer, but if
necessary for the payment thereof ad valorem taxes are required by law to be levied on all taxable property of the Issuer, which
taxes are not subject to any limitation as to rate or amount.
3. Interest on the Bonds is excludable from gross income of the recipient for federal income tax purposes and, to the
same extent, is excludable from taxable net income of individuals, trusts, and estates for Minnesota income tax purposes, and is
not a preference item for purposes of the computation of the federal alternative minimum tax, or the computation of the
Minnesota alternative minimum tax imposed on individuals, trusts and estates. However, such interest is subject to Minnesota
franchise taxes on corporations (including financial institutions) measured by income. The opinion set forth in this paragraph is
subject to the condition that the Issuer comply with all requirements of the Internal Revenue Code of 1986, as amended, that must
be satisfied subsequent to the issuance of the Bonds in order that interest thereon be, or continue to be, excludable from gross
income for federal income tax purposes and from taxable net income for Minnesota income tax purposes. The Issuer has
covenanted to comply with all such requirements. Failure to comply with certain of such requirements may cause interest on the
Bonds to be included in gross income for federal income tax purposes and taxable net income for Minnesota income tax purposes
retroactively to the date of issuance of the Bonds. We express no opinion regarding tax consequences arising with respect to the
Bonds other than as expressly set forth herein.
4.The rights of the owners of the Bonds and the enforceability of the Bonds may be limited by bankruptcy, insolvency,
reorganization, moratorium, and other similar laws affecting creditor's rights generally and by equitable principles, whether
considered at law or in equity.
We have not been asked and have not undertaken to review the accuracy, completeness or sufficiency of the Official
Statement or other offering material relating to the Bonds, and accordingly we express no opinion with respect thereto.
This opinion is given as of the date hereof and we assume no obligation to update, revise, or supplement this
opinion to reflect any facts or circumstances that may hereafter come to our attention or any changes in law that may
hereafter occur.
Dated , 2010 at Minneapolis, Minnesota.
I -1
APPENDIX II
CONTINUING DISCLOSURE CERTIFICATE
$
City of Lino Lakes, Minnesota
General Obligation Improvement and Utility Revenue
Refunding Bonds, Series 2010A
CONTINUING DISCLOSURE CERTIFICATE
June 8, 2010
This Continuing Disclosure Certificate (the "Disclosure Certificate ") is executed and delivered by the
City of Lino Lakes, Minnesota (the "Issuer ") in connection with the issuance of its C era1 Obligation
Improvement and Utility Revenue Refunding Bonds, Series 2010A, in the original aggregate principal
amount of $ (the `Bonds "). The Bonds are being issued pursuant to an authorizing resolution
adopted by the City Council of the Issuer on April 12, 2010 and an award resolution adopted by the City
Council of the Issuer on May 10, 2010 (collectively, the "Resolutions ") and delivered to
(the "Purchaser") on the date hereof. Pursuant to the
Resolutions, the Issuer has covenanted and agreed to provide continuing disclosure of certain financial
information and operating data and timely notices of the occurrence of certain events. In addition, the Issuer
hereby covenants and agrees as follows:
Section 1. Purpose of `' e Disclosure Certificate. This Disclosure Certificate is being executed
and delivered by the Issuer for the benefit of the Holders (defined herein) of the Bonds in order to assist the
Participating Underwriters (defined herein) in complying with SEC Rule 15c2- 12(b)(5). This Disclosure
Certificate, together with the Resolutions, constitutes the written agreement or contract for the benefit of the
Holders of the Bonds that is required by the Rule.
Section 2. Definitions. In addition to the defined terms set forth in the Resolutions, which
apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section, the
following capitalized terms shall have the following meanings:
"Annual Report" means any annual report provided by the Issuer pursuant to, and as described in,
Sections 3 and 4 of this Disclosure Certificate.
"Audited Financial Statements" means the Issuer's annual financial statements, prepared in
accordance with generally accepted accounting principles ( "GAAP ") for Governmental Units as Prescribed
by the Govemmental Accounting Standards Board ( "GASB ").
"EMMA" means the Electronic Municipal Market Access system operated by the MSRB as the
primary portal for complying with the continuing disclosure requirements of the Rule.
"Final Official Statement" means the deemed final official statement dated
2010, plus the addendum thereto which together constitute the final official statement delivered in connection
with the Bonds, which is available from the MSRB.
"Fiscal Year" means the fiscal year of the Issuer.
"Holder" means the person in whose name a security is registered or a beneficial owner of such a
security.
"Issuer" means the City of Lino Lakes, Anoka County, Minnesota, which is the obligated person
with respect to the Bonds.
"Material Event" means any of the events listed in Section 5(a) of this Disclosure Certificate.
"MSRB" means the Municipal Securities Rulemaking Board located at 1900 Duke Street, Suite 600,
Alexandria, VA 22314.
"Participating Underwriter" means any of the original underwriter(s) of the Bonds (including the
Purchaser) required to comply with the Rule in connection with the offering of the Bonds.
"Repository" means EMMA.
"Rule" means SEC Rule 15c2- 12(bx5) promulgated by the SEC under the Securities Exchange Act
of 1934, as the same may be amended from time to time, and including written interpretations thereof by the
SEC.
"SEC" means the Securities and Exchange Commission.
Section 3. Provision of Annual Financial Information and Audited Financial Statements.
(a) The Issuer shall provide, as soon as available, but not later than 12 months after the end of
the Fiscal Year commencing with the year that ends December 31, 2009, the Repository
with an Annual Report which is consistent with the requirements of Section 4 of this
Disclosure Certificate. The Annual Report may be submitted as a single document or as
separate documents comprising a package, and may cross - reference other information as
provided in Section 4 of this Disclosure Certificate; provided that the Audited Financial
Statements of the Issuer may be submitted separately from the balance of the Annual Report
and will be submitted as soon as available.
(b) If the Issuer is unable or fails to provide to the Repository an Annual Report by the date
required in subsection (a), the Issuer shall send a notice of that fact to the Repository and the
MSRB.
(c) The Issuer shall determine each year prior to the date for providing the Annual Report the
name and address of each Repository.
Section 4. Content of Annual Reports. The Issuer's Annual Report shall contain or incorporate
by reference the following sections of the Final Official Statement:
1. City Property Values
2. City Indebtedness
3. City Tax Rates, Levies and Collections
In addition to the items listed above, the Annual Report shall include Audited Financial Statements
submitted in accordance with Section 3 of this Disclosure Certificate.
Any or all of the items listed above may be incorporated by reference from other documents,
including official statements of debt issues of the Issuer or related public entities, which have been submitted
to the Repository or the SEC. If the document incorporated by reference is a final official statement, it must
also be available from the MSRB. The Issuer shall clearly identify each such other document so incorporated
by reference.
11 -2
Section 5. Reporting of Material Events.
(a) This Section 5 shall govern the giving of notices of the occurrence of any of the following
events if material with respect to the Bonds:
1. Principal and interest payment delinquencies;
2. Non - payment related defaults;
3. Unscheduled draws on debt service reserves reflecting financial difficulties;
4. Unscheduled draws on credit enhancements reflecting financial difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
6. Adverse tax opinions or events affecting the tax- exempt status of the security;
7. Modifications to rights of security holders;
8. Bond calls;
9. Defeasances;
10. Release, substitution or sale of property securing repayment of the securities; and
11. Rating changes.
(b) Whenever the Issuer obtains knowledge of the occurrence of a Material Event, the Issuer
shall promptly file a notice of such occurrence with the Repository or with the MSRB.
Notwithstanding the foregoing, notice of Material Events described in subsections (a)(8) and
(9) need not be given under this subsection any earlier than the notice (if any) of the
underlying event is given to Holders of affected Bonds pursuant to the Resolutions.
(c) Unless otherwise required by law and subject to technical and economic feasibility, the
Issuer shall employ such methods of information transmission as shall be requested or
recommended by the designated recipients of the Issuer's information.
Section 6. EMMA. The SEC has designated EMMA as a nationally recognized municipal
securities information repository and the exclusive portal for complying with the continuing disclosure
requirements of the Rule. Until the EMMA system is amended or altered by the MSRB and the SEC, the
Issuer shall make all filings required under this Disclosure Certificate solely with EMMA.
Section 7. Termination of Reporting Obligation. The Issuer's obligations under the
Resolutions and this Disclosure Certificate shall terminate upon the legal defeasance, or upon the redemption
or payment in full of all the Bonds.
Section 8. Agent. The Issuer may, from time to time, appoint or engage a dissemination agent
to assist it in carrying out its obligations under the Resolutions and this Disclosure Certificate, and may
discharge any such agent, with or without appointing a successor dissemination agent.
Section 9. Amendment: Waiver. Notwithstanding any other provision of the Resolutions or
this Disclosure Certificate, the Issuer may amend this Disclosure Certificate, and any provision of this
Disclosure Certificate may be waived, if such amendment or waiver is supported by an opinion of nationally
11-3
cognized bond counsel to the effect that such amendment or waiver would not, in and of itself, cause a
violation of the Rule. The provisions of the Resolutions constituting the undertaking and this Disclosure
Certificate, or any provision hereof, shall be null and void in the event that the Issuer delivers to the
Repository an opinion of nationally recognized bond counsel to the effect that those portions of the Rule
which require the Resolutions and this Disclosure Certificate are invalid, have been repealed retroactively or
otherwise do not apply to the Bonds. The provisions of the Resolutions and this Disclosure Certificate may
be amended without the consent of the Holders of the Bonds, but only upon the delivery by the Issuer to the
Repository of the proposed amendment and an opinion of nationally recognized bond counsel to the effect
that such amendment, and giving effect thereto, will not adversely affect the compliance of the Resolutions
and this Disclosure Certificate and by the Issuer with the Rule.
Section 10. Additional Information. Nothing in this Disclosure Certificate shall be deemed to
prevent the Issuer from disseminating any other information, using the means of dissemination set forth in
this Disclosure Certificate or any other means of communication, or including any other information in any
Annual Report or notice of occurrence of a Material Event, in addition to that which is required by this
Disclosure Certificate. If the Issuer chooses to include any information in any Annual Report or notice of
occurrence of a Material Event in addition to that which is specifically required by this Disclosure Certificate,
the Issuer shall have no obligation under this Disclosure Certificate to update such information or include it in
any future Annual Report or notice of occurrence of a Material Event.
Section 11. Default. In the event of a failure of the Issuer to comply with any provision of this
Disclosure Certificate any Holder of the Bonds may take such actions as may be necessary and appropriate,
including seeking mandamus or specific performance by court order, to cause the Issuer to comply with its
obligations under the Resolutions and this Disclosure Certificate. A default under this Disclosure Certificate
shall not be deemed an event of default with respect to the Bonds and the sole remedy under this Disclosure
Certificate in the event of any failure of the Issuer to comply with this Disclosure Certificate shall be an
action to compel performance.
Section 12. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of the
Issuer, the Participating Underwriters and Holders from time to time of the Bonds, and shall create no rights
in any other person or entity.
IN WITNESS WHEREOF, we have executed this Disclosure Certificate in our official capacities
effective as of the date and year first written above.
CITY OF LINO LAKES, MINNESOTA
Mayor
City Administrator
11-4
APPENDIX III
SUMMARY OF TAX LEVIES, PAYMENT PROVISIONS, AND
MINNESOTA REAL PROPERTY VALUATION
(effective through levy year 2009 /payable year 2010)
Following is a summary of certain statutory provisions effective through levy year 2009 /payable
year 2010 relative to tax levy procedures, tax payment and credit procedures, and the
mechanics of real property valuation. The summary does not purport to be inclusive of all such
provisions or of the specific provisions discussed, and is qualified by reference to the complete
text of applicable statutes, rules and regulations of the State of Minnesota.
Property Valuations (Chapter 273, Minnesota Statutes)
Assessor's Estimated Market Value. Each parcel of real property subject to taxation must, by
statute, be appraised at least once every five years as of January 2 of the year of appraisal.
With certain exceptions, all property is valued at its market value, which is the value the
assessor determines to be the price the property to be fairly worth, and which is referred to as
the "Estimated Market Value."
Limitation of Market Value Increases. Minn. Stat., Sec. 273.11, Subdivision 1 a, was amended
in 2005. For assessment years 2005 and 2006, the amount of the increase shall not exceed the
greater of (1) 15% of the value in the preceding assessment, or (2) 25% of the difference
between the current assessment and the preceding assessment. For assessment year 2007,
the amount of the increase shall not exceed the greater of (1) 15% of the value in the preceding
assessment, or (2) 33% of the difference between the current assessment and the preceding
assessment. For assessment year 2008, the amount of increase shall not exceed the greater of
(1) 15% of the value in the preceding assessment or (2) 50% of the difference between the
current assessment and the preceding assessment.
Taxable Market Value. The Taxable Market Value is the value that property taxes are based
on, after all reductions, limitations, exemptions and deferrals. It is also the value used to
calculate a municipality's legal debt limit.
Indicated Market Value. The Indicated Market Value is determined by dividing the Taxable
Market Value of a given year by the same year's sales ratio determined by the State
Department of Revenue. The Indicated Market Value serves to eliminate disparities between
individual assessors and equalize property values statewide.
Net Tax Capacity. The Net Tax Capacity is the value upon which net taxes are levied, extended
and collected. The Net Tax Capacity is computed by applying the class rate percentages
specific to each type of property classification against the Taxable Market Value. Class rate
percentages vary depending on the type of property as shown on the last page of this Appendix.
The formulas and class rates for converting Taxable Market Value to Net Tax Capacity
represent a basic element of the State's property tax relief system and are subject to annual
revisions by the State Legislature.
Property taxes are determined by multiplying the Net Tax Capacity by the tax capacity rate, plus
multiplying the referendum market value by the market value rate.
Property Tax Payments and Delinquencies
(Chapters 275, 276, 277, 279 -282 and 549, Minnesota Statutes)
Ad valorem property taxes levied by local governments in Minnesota are extended and collected
by the various counties within the State. Each taxing jurisdiction is required to certify the annual
tax levy to the county auditor within five (5) working days after December 20 of the year
preceding the collection year. A listing of property taxes due is prepared by the county auditor
and turned over to the county treasurer on or before the first business day in March.
The county treasurer is responsible for collecting all property taxes within the county. Real
estate and personal property tax statements are mailed out by March 31. One -half (1/2) of the
taxes on real property is due on or before May 15. The remainder is due on or before
October 15. Real property taxes not paid by their due date are assessed a penalty that,
depending on the type of property, increases from 2% to 4% on the day after the due date. In
the case of the first installment of real property taxes due May 15, the penalty increases to 4%
or 8% on June 1. Thereafter, an additional 1% penalty shall accrue each month through
October 1 of the collection year for unpaid real property taxes. In the case of the second
installment of real property taxes due October 15, the penalty increases to 6% or 8% on
November 1 and increases again to 8% or 12% on December 1. Personal property taxes
remaining unpaid on May 16 are deemed to be delinquent and a penalty of 8% attaches to the
unpaid tax. However, personal property that is owned by a tax - exempt entity, but is treated as
taxable by virtue of a lease agreement, is subject to the same delinquent property tax penalties
as real property.
On the first business day of January of the year following collection all delinquencies are subject
to an additional 2% penalty, and those delinquencies outstanding as of February 15 are filed for
a tax lien judgment with the district court. By March 20 the county auditor files a publication of
legal action and a mailing of notice of action to delinquent parties. Those property interests not
responding to this notice have judgment entered for the amount of the delinquency and
associated penalties. The amount of the judgment is subject to a variable interest determined
annually by the Department of Revenue, and equal to the adjusted prime rate charged by banks
but in no event is the rate less than 10% or more than 14 %.
Property owners subject to a tax lien judgment generally have five years (5) in the case of all
property located outside of cities or in the case of residential homestead, agricultural homestead
and seasonal residential recreational property located within cities or three (3) years with
respect to other types of property to redeem the property. After expiration of the redemption
period, unredeemed properties are declared tax forfeit with title held in trust by the State of
Minnesota for the respective taxing districts. The county auditor, or equivalent thereof, then
sells those properties not claimed for a public purpose at auction. The net proceeds of the sale
are first dedicated to the satisfaction of outstanding special assessments on the parcel, with any
remaining balance in most cases being divided on the following basis: county - 40 %; town or
city - 20 %; and school district - 40 %.
Property Tax Credits (Chapter 273, Minnesota Statutes)
In addition to adjusting the taxable value for various property types, primary elements of
Minnesota's property tax relief system are: property tax levy reduction aids; the circuit breaker
credit, which relates property taxes to income and provides relief on a sliding income scale; and
targeted tax relief, which is aimed primarily at easing the effect of significant tax increases. The
circuit breaker credit and targeted credits are reimbursed to the taxpayer upon application by
the taxpayer. Property tax levy reduction aid includes educational aids, local governmental aid,
equalization aid, county program aid and disparity reduction aid.
Levy Limitations for Counties and Cities (Chapter 275)
The 2008 Legislature enacted provisions to establish levy limitations for taxes levied
for collection in 2009, 2010, and 2011. Basically, levy increases for cities over 2,500 population
and for counties are limited to its levy aid base or levy limit base for collection in the prior
year, (1) plus the lesser of 3.9 percent or the percentage growth in the implicit price
deflator, (2) plus an adjustment for population increases and (3) plus increases in taxable
market value due to new construction of certain class 3 property (commercial /industrial).
Certain property tax levies are authorized outside of the new overall levy limitations
( "special levies "). Special levies can be made outside of levy limits for multiple purposes
including, but not limited to, bonded indebtedness, certificates of indebtedness, tax or aid
anticipation certificates of indebtedness, and to provide for the bonded indebtedness portion of
payments made to another political subdivision of the State of Minnesota. In order to receive
approval for any special levy claims outside of the overall levy limitation, requests for
such special levies must be submitted to the Commissioner of Revenue by the date specified in
the year in which the levy is to be made for collection in the following year. The Commissioner
of Revenue has the authority to approve, reduce, or deny a special levy request.
Final adjustments to all levies must be made by the Department of Revenue on or before
December 10. (275.74)
Debt Limitations
All Minnesota municipalities (counties, cities, towns and school districts) are subject to statutory
"net debt" limitations under the provisions of Minnesota Statutes, Section 475.53. Net debt is
defined as the amount remaining after deducting from gross debt the amount of current
revenues that are applicable within the current fiscal year to the payment of any debt and the
aggregate of the principal of the following:
1. Obligations issued for improvements that are payable wholly or partially from the
proceeds of special assessments levied upon benefited property.
2. Warrants or orders having no definite or fixed maturity.
3. Obligations payable wholly from the income from revenue producing conveniences.
4. Obligations issued to create or maintain a permanent improvement revolving fund.
5. Obligations issued for the acquisition and betterment of public waterworks systems,
and public lighting, heating or power systems, and any combination thereof, or for any
other public convenience from which revenue is or may be derived.
6. Certain debt service loans and capital loans made to school districts.
7. Certain obligations to repay loans.
8. Obligations specifically excluded under the provisions of law authorizing their issuance.
9. Certain obligations to pay pension fund liabilities.
10. Debt service funds for the payment of principal and interest on obligations other than
those described above.
11. Obligations issued to pay judgments against the municipality.
Levies for General Obligation Debt
(Sections 475.61 and 475.74, Minnesota Statutes)
Any municipality that issues general obligation debt must, at the time of issuance, certify levies
to the county auditor of the county(ies) within which the municipality is situated. Such levies
shall be in an amount that if collected in full will, together with estimates of other revenues
pledged for payment of the obligations, produce at least five percent in excess of the amount
needed to pay principal and interest when due. Notwithstanding any other limitations upon the
ability of a taxing unit to levy taxes, its ability to levy taxes for a deficiency in prior levies for
payment of general obligation indebtedness is without limitation as to rate or amount.
Metropolitan Revenue Distribution (Chapter 473F, Minnesota Statutes)
"Fiscal Disparities Law"
The Charles R. Weaver Metropolitan Revenue Distribution Act, more commonly known as
"Fiscal Disparities," was first implemented for taxes payable in 1975. Forty percent of the
increase in commercial - industrial (including public utility and railroad) net tax capacity valuation
since 1971 in each assessment district in the Minneapolis /St. Paul seven - county metropolitan
area (Anoka, Carver, Dakota, excluding the City of Northfield, Hennepin, Ramsey, Scott,
excluding the City of New Prague, and Washington Counties) is contributed to an area -wide tax
base. A distribution index, based on the factors of population and real property market value
per capita, is employed in determining what proportion of the net tax capacity value in the area -
wide tax base shall be distributed back to each assessment district.
III-4
STATUTORY FORMULAE: CONVERSION OF TAXABLE MARKET VALUE (TMV) TO
NET TAX CAPACITY FOR MAJOR PROPERTY CLASSIFICATIONS
Property Type
Residential Homestead (la)
Up to $500,000
Over $500,000
Residential Non - homestead
Single Unit
Up to $500,000
Over $500,000
1 -3 unit and undeveloped land (4b1)
Market Rate Apartments
Regular (4b1)
Low - Income (4d)
Commercial /Industrial /Public Utility (3a)
Up to $150,000
Over $150,000
Electric Generation Machinery
Commercial Seasonal Residential
Homestead Resorts (1c)
Up to $600,0003
$600,000 - $2,300,0003
Over $2,300,0003
Seasonal Resorts (4c)
Up to $500,000
Over $500,000
Non - Commercial (4c1)
Up to $500,000
Over $500,000
Disabled Homestead (1 b)
Up to $50,0003
$50,000 to $500,0003
Over $500,000
Agricultural Land & Buildings
Homestead (2a)
Up to $500,000
Over $500,000
Remainder of Farm
Up to $1,010,0004
Over $1,010,0004
Non- homestead (2b)
1 Subject to the State General Property Tax.
2 Exempt from referendum market value tax.
3 2008 legislative increases.
° 2009 legislative increases.
Local Tax Local Tax Local Tax Local Tax Local Tax
Payable Payable Payable Payable Payable
2006 2007 2008 2009 2010
1.00%
1.25%
1.00%
1.25%
1.25%
1.25%
0.75%
1.50%
2.00%
2.00%
1.00%
1.25%
1.25%
1.00%
1.25%
1.00% 1.00%
1.25% 1.25%
1.00%
1.25%
1.25%
1.00%
1.25%
1.25%
1.25% 1.25%
0.75% 0.75%
1.50%
2.00%
2.00%
0.55%
1.00%
1.25%
1.50 %1
2.00 %1
2.00%
0.55%
1.00%
1.25 %1
1.00% 1.00 %1
1.25% 1.25 %1
1.00% 1.00%
1.25% 1.25%
1.00%
1.25%
1.25%
1.00%
1.25%
1.25%
1.25% 1.25%
0.75% 0.75%
1.50 %1
2.00 %1
2.00%
0.50%
1.00%
1.25 %1
1.50 %1
2.00 %1
2.00%
0.50%
1.00%
1.25 %1
1.00 %1 1.00 %1
1.25 %1 1.25 %1
1.00 %1 1.00 %1 1.00 %1 2 1.00 %1 2 1.00 %1 2
1.25 %1 1.25 %1 1.25 %1 2 1.25 %1 2 1.25 %1 2
0.45%
1.00%
1.25%
1.00 %1
1.00 %1
0.55 %1
1.00 %1
1.00 %1
111-5
0.45%
1.00%
1.25%
0.45%
1.00%
1.25%
1.00 %1 1.00%
1.00 %1 1.25%
0.55 %1
1.00 %1
1.00 %1
0.55 %2
1.00 %2
1.00 %2
0.45%
1.00%
1.25%
0.45%
1.00%
1.25%
1.00% 1.00%
1.25% 1.25%
0.50 %2
1.00 %2
1.00 %2
0.50 %2
1.00 %2
1.00 %2
APPENDIX IV
EXCERPT OF 2008 ANNUAL FINANCIAL STATEMENTS
The City is audited annually by an independent certified public accounting firm. Data on the
following pages was extracted from the City's comprehensive annual financial report for fiscal
year ended December 31, 2008 (the "CAFR "). The City's comprehensive annual financial report
for fiscal year ended December 31, 2009 is not yet available. The reader should be aware that
the complete CAFR may contain additional information which may interpret, explain, or modify
the data presented here. The complete CAFR is available at the offices of the City.
The City has been awarded the Certificate of Achievement for Excellence in Financial Reporting
by the Government Finance Officers Association of the United States and Canada (GFOA) for
its comprehensive annual financial report for the year ended December 31, 2007. The
Certificate of Achievement is the highest form of recognition for excellence in State and local
government financial reporting. The City has received this award every year since 1996.
In order to be awarded a Certificate of Achievement, a government unit must publish an easily
readable and efficiently organized comprehensive annual financial report, whose contents
conform to program standards. Such CAFR must satisfy both generally accepted accounting
principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. The City believes its CAFR
continues to conform to the Certificate of Achievement program requirements and has
submitted its CAFR for the 2008 fiscal year to GFOA.
Lars•nAlleri
C PAs, COIISuuIt2fl;2 & Advisors
www.iarsonattenlorn
INDEPENDENT AUDITORS' REPORT
Honorable Mayor and
Members of the City Council
City of Lino Lakes, Minnesota
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of the City of Lino Lakes, Minnesota
as of and for the year ended December 31, 2008, which collectively comprise the City's basic financial
statements as listed in the table of contents. These financial statements are the responsibility of the City's
management Our responsibility is to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with U.S. generally accepted auditing standards and the standards
applicable to financial audits contained in Gaverrrmena Auditing Standards, issued by the Comptroller General of
the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that ow audit provides a reasonable basis for our opinions.
in out opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the governmental activities, the business -type activities, each major fund, and the aggregate remaining
fund information of the City of Lino Lakes, Minnesota as of December 31, 2008, and the respective changes in
financial position and cash flows, where applicable, thereof and for the year then ended in conformity with U.S.
generally accepted acmuuting principles.
In accordance with Government Audiring Standards, we have also issued a report dated May 26, 2009 on our
consideration of the City's internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, grant agreements, and other mane's. The purpose of that report is to
describe the scope of our testing of internal control over financial reporting and compliance and the results of that
testing and not to provide an opinion on the internal control over financial reporting or on compliance. That
report is an integral part of an audit performed in accordance with Government Auditing Standards and should be
considered in assessing the results of our audit.
The management's discussion and analysis, budgetary comparison information and schedule of funding progress
as listed in the table of contents are not a required part of the basic fmancial statements but are supplementary
information required by U.S. generally accepted accounting principles. We have applied certain limited
procedures, which consisted principally of inquires of management regarding the methods of measurement and
presentation of the required supplementary information. However, we did not audit the information and express
no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statements. The accompanying supplementary information, including the
introductory section, combining fund financial statements, supplementary financial information and statistical
section listed in the table of contents are presented for purposes of additional analysis and are not a required part
of the basic financial statements. Such information, except for the introductory and statistical sections on which
we express no opinion, bas been subjected to the auditing procedures applied in our audit of the basic financial
statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements
taken as a whole.
Minneapolis, Minnesota
May 26, 2009
IV -2
LarsonAllen LLP
CITY OF LINO LAKES, MINNESOTA
STATEMENT OF NET ASSETS
December 31, 2008
Governmental Business -type
Activities Activities
Total
ASSETS
Cash and investments $ 15,664,737 5 8,574,647 $ 24,239,384
Cash and investments with escrow agent 88,504 - 88,504
Accrued interest receivable 222 ,728 222,728
Accounts receivable 142,952 375,921 518,873
Due from other governments 216,166 515 216,681
Taxes receivable 496,990 - 496,990
Special assessments receivable 9,187,913 10',271 9,290,136
Long -tern notes receivable 225,000 - 225,000
Prepaid items 192,798 73,280 266,078
Unamortized bond issue costs 214,680 12,718 227,398
Permanently restricted cash and investments 100,000 - 100,000
Capital asses:
Land 2,809,059 2,809,059
Construction in progress 2,762,525 13,054 2,775,579
Other capital assets, net of depreciation 41,315,144 31,887,266 73,202,410
Total assets 73,639,196 41,039,624 114,678,820
LIABILITIES
Accounts payable 427,097 40,031 467,128
Salaries payable 192,086 10,404 202,490
Contracts and retainage payable 167,730 - 167,730
Accrued interest payable 41 1,370 22,867 434,237
Due to other governments 25 25
Non - cement liabilities:
Due within one year 2,354,582 387 ,396 2,741,978
Due in more than one year 20,952,406 1,177,478 22,129,884
Total liabilities 24,505,296 1,638,176 26,I43,472
NET ASSETS
Invested in capital assets, net of related debt 28,472,865 30,372,670 58,845,535
Restricted for
Debt service 9,770,676 9,770,676
Environmental improvements - nonexpendable 100,000 - 1.00,Q00
Unrestricted 10,790,359 9.028,778 19,819,137
Total net assets 5 49,133,900 $ 39,401,448 $ 88,535,348
The accompanying notes are art integral part of these basic financial statemenu.
Revenue end Chen
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IV-4
QTY OF LINO LAKES, MINNESOTA
BALANCE SHEET - GOVERNMENTAL FUNDS
December 31, 2008
G.O. Arca and Legacy Odic- Total
Improvement Unit Woods Edge Governmental Govenmie nal
Assets General Bonds 2005A Charge improvement Funds Ftmds
Cash and investments 8 4,121,641 S 1,069 S 1,813,952 S 765,196 S 9,062,879 S 15,764,737
Cash and imesmiears with escrow agent - - 88,504 88,504
Accrued interest receivable 222,728 - 22,728
Accounts receivable I19,639 22,903 410 142,952
Due from other governmental limits 214,666 - 1,500 216,166
Interfimd receivable 1,075,240 1,075,240
Taxes receivable
Delinquent 252,399 28,291 280,690
Due Sam county 71,169 37,499 108,668
Delinquent tax increment - 707,632 107,632
Special assessments receivable:
Delinquent - 1,722,998 96,204 26,889 1,846,091
Deferred 1,708 3,647,477 1,951,873 2,730,985 7,331,443
Due from county - - 7,191 3,188 10,379
Long-term notes receivable - 225,000 225,000
Prepaid bans 190,825 1,973 192,798
Advances to other funds 812,400 812.400
Total assets S 6,269,415 S 5,371,544 $ 4,704,523 S 765,196 S 11,314,750 S 28,425,428
Liabilities and equity
Liabilities
imafuod payable S - S S - S - S 1,075,240 S 1,075,240
Awotmtspayable 240,082 7,483 2,146 177,386 427,097
Salaries payable 191,660 - - 426 192,086
Contracts and retainage payable 167,730 - 167,730
Due to other governmental units 25 - 25
Adv.'s-ices from other funds - - - 812,400 812,400
Deferred revenue 253 ,507 5170.475 2.048,077 1,893,797 9,565,856
Total liabilities 685 .274 5,370,475 2.055,560 169,876 3,959,249 12,240,434
Fwd balances
Reserved :
Reserved for prepaid never 190,825 1,973 192,798
Reserved for debt retirement - 1,069 - 3,404,203 3,405,272
Reserved for advances to otter fiords - 812,400 - 812,400
Reserved for environmental improvements 100,000 100,000
Reserved for long -term notes receivable 225,000 225,000
Unreserved:
Designated:
General fund 5,393,316 - 5,393,316
Special rrveatre funds - - 106,573 106,573
Capital projett<funds 1,836,563 595,320 4,113,978 6,545,861
Undesignated reported in:
Capital projects funds (618,450) (618,450)
Permanent funds 22,224 22,224
Total fiord balances 5,584,141 1,069 2.648,963 595,320 7,355,501 16,184,994
Total liabiities and fiord balances S 6269,415 S 5,371,544 S 4,704,523 S 765,196 S 11,314,750 S 28.425,428
Mc ocampmryirg mac are an aaegral parr ofrkee basic f na c al aareaious.
CITY OF LINO LAKES, MINNESOTA
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE
SHEET TO THE STATEMENT OF NET ASSETS
December 31, 2008
Total Fund Balances for Governmental Funds 8 16,184,994
Total net assets reported for governmental activities in the statement of net assets
is different because:
Capital assets used in governmental funds are not financial resources and, therefore,
are not reported in the funds. Those assets consist ofi
Land $ 2,809,059
Construction in Progress 2,762,525
Buildings, Net of Accumulated Depreciation 4,162,757
Office Equipment and Furniture, Net of Accumulated Depreciation 443,209
Vehicles, Net of Accumulated Depreciation 1,311,603
Machinery and Shop Equipment, Net of Accumulated Depreciation 215,050
Other Equipment, Net of Accumulated Depreciation 351,186
infrastructure, Net of Accumulated Depreciation 34,831,339 46,886,728
Some of the City's properly taxes and special assessments be collected after year -end, but are not
available soon enough to pay for the current period's expenditures and, therefore, are reported as
deferred revenue in the governmental funds. 9,565,856
Bond issuance costs are reported as expenditures in the governmental funds and are shown net of
accumulated amortization on the statement of net assets as prepaid items. 214,680
interest on long -term debt is not accrued in governmental funds, but rather is recognized as an
expenditure when due. Accrued interest for general obligation bonds is included in the statement of
net assets. (41 1,370)
Long -term liabilities that pertain to governmental funds, including bonds payable, are not due and
payable in the current period and therefore are not reported as fund liabilities. All liabilities - both
current and long -term - are reported in the statement of net assets. Balances at year -end are:
Bonds Payable (22,549,000)
Unauiortized Premiums (119,290)
Unamortized Discounts 39,427
Other Post Employment Benefits (22,481)
Compensated Absence Payable (655,644) (23,306,988)
Total Net Assets of Governmental Activities S 49,133,900
The accomparving notes are an integral pat of these baste financial statements.
CITY OF 1E+1O LAKES, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - GOVERNMENTAL FUNDS
Yea Faded December 31, 2008
G.O. Area and Legacy Other Torsi
Improvement Unit Woods Edge Governmental Governmental
Revenue General Bonds2005A Charge Improvement Funds Funds
General property taxes 5 7,691,576 S - $ - 5 - $ 863,173 S 8,554,749
Tee increments 540,336 540,336
Licenses and permits 802,135 - 802,135
Intergovernmental 537,242 - 487,234 1,004,476
Special assessments 4,323 480,932 4.64,933 950,188
Charges for services 449,555 239,394 183,785 872,534
Fines and forfeits 133,531 - - 133,531
Investment earnings 134,521 3,885 91,695 66 ,357 279,613 576,071
Refunds and reimbursements 8,637 - - - 98 8,735
Isfuscelianeons 172,750 334.930 507,680
Total revenue 9.914,270 3.885 811.821 66,357 3,154,102 I3950,435
Fxpendinats
(merest
General govern meat 2,046,500 11,767 2,058,267
Public safety 3,806,389 - - 3,806,389
Public works 1,368,630 91,563 3,668,378 413,737 5,542,308
Paris, recreation and forestry 847,542 - 185,718 1,033,260
Conservation of natural resources 178,254 4,770 183,024
Connmmity development 745,127 368,105 1,113,232
Capital outlay.
General government 2,944 17,295 20,239
Public safety 41,441 145,622 187,063
Public works - 36,403 304,104 340,507
Paris, recreation and forestry .24,000 12,445 36,445
Conservation of natural resources 1,397 1,397
Con mrmity development 224 224
Debt service:
Principal 275,000 1,474,000 1,749,000
interest and fiscal ages 263,092 810,960 1,074.052
Total expe t:in res 9,062,448 538,092 91,563 3,704.781 3,748,523 17,245.407
Revenue over (under) expenditures 85I,822 (534,207) 720,258 (3,638.424) (594,421) (3.194.972)
Other fora ncing sources (ass):
Transfer in 468 25 ,000 2,188,729 2,549,194 4,763,391
Transfer out (806,180) - (542,911) (1,200,000) (2,247,068) (4,796,159)
Sale of property - 13,750 13,750
Issuance olden - 209.000 209.000
Total other financing sauces (uses) (805,712) 25,000 (542.911) 988.729 524,876 189,982
Net increase (decrease) in find balance 46,110 (509,207) 377,347 (2,649,695) (69,545) (3,004,99
Fund balance -
Beguming of year 5.538,031 510,276 2.471,616 3,245.015 7,425,046 19.189,984
Fund balance - Dercmb r 3] 5 5584.141 5 1,069 S 2,648963 $ 595,320 S 7,355,501 $ 16,184,994
77rr accarnpmna rs nora mT an fnagns' parr ofthew bask Ann ac+at smrme ns.
QTY OF LINO LAKES, MINNESOTA
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND
C1.3ANGES IN FUND BALANCE TO THE STATEMENT OF ACTIVmES
Year Ended December 31, 2008
Net Change in Fund Balances -Total Governmental Funds S (3,004,990)
Amounts reported for gone unental activities in the statement of actvisies are different because:
Governmental fends report capital outlays as expenditures. However, in the
statement of activities, assets are capitalized and the cost is allocated over their
estimated useful lives and reported as depreciation expense.
Capital outlays S 926,8.45
Capital contributions to business -type funds (961,434)
Crain on disposal of capital asses 12,512
Proceeds from sales of capital assets (13,750)
Depreciation expense (2,764,145) (2,799,972)
The govemmental funds report bond proceeds as financing sources, while repayment
of bond principal is repored as an expenditure. In the statement of net assets,
however, issuing debt increases long -term liabilities and does not affect the statement
of activities and repayment of principal reduces the liability. Also, governmental
funds report the effect of issuance costs, premiums aril discounts when debt is first
issued, whereas these amounts are deferred and amortized in the statement of
activities. Interest is recognized as an expenditure in the governmental funds when it
is due. In the statement of activities, however, interest expense is recognized as it
accrues, regardless of when it is due. The net effect of these differences in the
treatment of general obligation bonds and related items is as follows:
Issuance of equipment ccnificates (209,000)
Repayment of bond principal 1,749,000
Change in accrued interest expense for general obligation bonds 33,164
Amortization of bond issuance costs (21,146)
Amortization of bond premium 19,120
Amortization of bond discount (2,867) 1,568,271
Delinquent and deferred property taxes and special assessments receivable will be
collected subsequent to year -end, but are not available soon enough to pay for the
ctzrent period's expenditures and, therefore, are deferred in the governmental funds.
Deferred revenue - December 31, 2007 9,606,192
Deferred revenue - December 31, 2008 9,565,856 (40,336)
In the statement of activities, compensated absences and other post employment
benefits are measured by the amounts earned during the year. In the governmental
funds, however, expenditures for these items are measured by the amount of financial
resources used (essentially, the amounts actually paid). During fiscal year 2008,
compensated absence payable and other post employment benefns payable increase.'.
Change in Net Assets of Governmental Activities
The =vomparryi g'sarts are an t augtal port of them basic financial smaanm.
(42,721)
S (4,319,218)
CITY OF LLNIO LAKES, MINNESOTA
STATEMENT OF NET ASSETS - PROPRIETARY FUNDS
December 31, 2008
Assets
Current assets:
Cash and cash equivalents
Accounts receivable
Due from other governmemal units
Due from county - special assessments
Prepaid items
Total current assets
Non-current assets:
Special assessments, long term
Unamortized bond issue costs
Capital assets not being depreciated:
Construction in progress
Capital assets being depreciated:
Buildings
Equipment
Water and sewer systems
Total capital assets
Less: allowance for depreciation
Net capital assets
Total noncurrent assets
Total assets
Liabilities
Current liabilities:
Accounts payable
Salaries payable
Accrued interest payable
Bonds payable - current portion
Compensated absences payable - current portion
Total current liabilities
Non - current liabilities:
Bonds payable - long term
Compensated absences payable - long term
Total noncurrent liabilities
Total liabilities
Net assets
Invested in capital assets, net of related debt
Unrestricted
Total net assets
The accompanying notes are an integral port of these basic financial statements
Water
Sewer
8 2,964,709 $ 5,609,938
167,447 208,474
515 -
8,578 380
9,47'7 63,803
3.150.726 5,882,595
93,265
12,718
13,054
48,690 -
122,811 313,644
19.544,873 21,227,039
19, 716,374 21,553,737
(4326,222) (5,043,569)
15,390,152 16,510,168
15,496,135 16,510,168
18,646,861 22,392,763
25,705
5,572
22,867
360,000
13,698
427,842
1,167,650
4,914
1,I72,564
1,600.406
Total
2008
$ 8,574,647
375,921
515
8,958
73,280
9,033,321
93,265
12,718
13,054
48,690
436,455
40,771,912
41,270,111
(9.369,7911
31,900,320
32.006,303
41,039,624
14,326 40,031
4,832 10,404
22,867
360,000
13,698 27,396
32,856 460,698
1,167,650
4,914 9,828
4,914 1,17 7,478
37,770 1.638,176
13,862,502 16,510,168
3,I83,953 5,844,825
c 17,046,455 $ 22,354,993
30,372,670
9,028,778
$ 39,401,448
CITY OF LINO LAKES, MINNESOTA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - PROPRIETARY FUNDS
Year Ended December 31, 2008
Water
Total
Sewer 2008
Operating revenue:
Charges for services S 1,035,462 $ 1,465,001 $ 2,500,463
Hook -up charges 9,020 7,060 16,080
Water meter sales 12,898 - 12,898
Other operating revenue 1,113 32 1,145
Total operating revenue 1,058,493 1,472,093 2.530,586
Operating expenses:
Personal services 185,970 167,782 353,752
Materials and supplies 166,023 13,496 179,519
Cont actual services 104,604 62,431 167,035
MCES sewer charges 565,801 565,801
Depreciation 411,992 432,366 844,358
Utilities 70,388 35,059 105,447
Other 20,066 11,008 31,0'74
Total operating expenses 959,043 1,287,943 2,246,986
Net income from operations 99,450 184,150 283,600
Other income (expense):
investment earnings 90,992 183,506 274,498
Special assessments 9,587 530 10,117
Bond interest (56,104) - (56,104)
Paying agent fees (5.623) (5,623)
Total other income (expense) 38,852 184,036 222.888
Net income before contributions and transfers 138,302 368,186 506,488
Contributions and transfers:
Capital contributions from primary government 551,965 409,469 961,434
Transfer in 57,768 57,768
Transfer out (25,000) (25,000)
Total contributions and transfers 551,965 442,237 994,202
Change in Net Assets 690,267 810,423 1,500,690
Net Assets - Iamtary 1 16,356,188 21,544,570 37,900,758
Net Assets - December 31 $ 17,046,455 S 22,354,993 $ 39,401,448
CITY OF LINO LAKES, MINNESOTA
STATEMENT OF CASH FLOWS - PROPRIETARY FUNDS
Year Ended December 31, 2008
Total
Water Sewer 2008
Cash flows from operating activities:
Cash receipts from customers 5 1,054,529 5 1,463,346 $ 2,517,875
Cash paid to suppliers (364,840) (698,478) (1,063,318)
Cash paid to employees (182, 823 (164,632) (347,455)
Net cash flows from operating activities 506,866 600,236 1,107,102
Cash flows from noncapital financing activities:
Net transfers 32,768 32,768
Net cash flows from noncapital financing activities 32,768 32,768
Cash flows fruit capital and related financing activities:
Principal paid on revenue bonds (325,000) - (325,000)
Collection of special assessments 20,676 421 21,097
Interest and paying agent fees on revenue bonds (62,283) - (62,283)
Acquisition of capital assets (12,213) (99,212) (111,425)
Net cash flows from (used) by capital and related
financing activities (378,820) (98,791) (477,611)
Cash flows from investing activities:
Interest on investments 90,992 183,506 274,498
Net increase (decrease) in cash and cash equivalents 219,038 717,719 936,757
Cash and cash equivalents - January 1 2,745,671 4,892,219 7,637,890
Cash and cash equivalents - December 31 $ 2,964,709 $ 5,609,938 5 8,574,647
Reconciliation of operating income to net cash
from operating activities:
Operating income $ 99,450 $ 184,150 $ 283,600
Adjustments to reconcile operating income to
net cash flows from operating activities:
Depreciation 411,992 432,366 844,358
Change in assets and liabilities:
Decrease (increase) in receivables (3,964) (8,747) (12,711)
Decrease (increase) in prepaid items (2,658) (8,417) (11,075)
increase (decrease) in payables 2,046 884 2,930
Net cash flows from operating activities $ 506,866 $ 600,236 5 1,107,162
- Water lines in the amount of $551,965 were contributed to the Water Fund in 2008.
- Sewer lines in the amount of S409,469 were contributed to the Sewer Fund in 2008.
The accompanying notes are an integral part of these basic financial statement
CITY OF LINO LAZES, MINNESOTA
STATEMENT OF NET ASSE IS - FIDUCIARY FUNDS - AGENCY FUNDS
December 31, 2008
2008
Assets
Cash and investments $ 833,884
Deposits receivable 10,520
Total assets $ 844,404
Liabilities
Accotmts payable $ 4,262
Deposits payable 840.142
Total liabilities $ 844,404
The acromyanying nous are an Integrai prat of these financial smremcna_
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AWARD:
SALE:
Springsted
Springsted Incorporated
380 Jackson Street, Suite 300
Saint Paul, MN 55101 -2887
Tel: 651 - 223 -3000
Fax: 651 - 223 -3002
Email: advisors @springsted.com
www.springsted.com
$1,015,000*
CITY OF LINO LAKES, MINNESOTA
GENERAL OBLIGATION IMPROVEMENT AND UTILITY
REVENUE REFUNDING BONDS, SERIES 2010A
(BOOK ENTRY ONLY)
WELLS FARGO BANK, NATIONAL ASSOCIATION
May 10, 2010
Moody's GSR Rating: Aa2
Bidder
Interest
Rates
Price
Net Interest
Cost
True Interest
Rate
WELLS FARGO BANK,
NATIONAL ASSOCIATION
CRONIN & COMPANY, INC.
UMB BANK, N.A.
UNITED BANKERS' BANK
2.00% 2011 -2014
3.00% 2015 -2020
2.00% 2011 -2013
2.50% 2014 -2015
3.00% 2016 -2017
3.25% 2018 -2019
3.50% 2020
1.00% 2011 -2012
1.30% 2013
1.60% 2014
2.00% 2015
2.30% 2016
2.60% 2017
2.90% 2018
3.00% 2019
3.10% 2020
0.60% 2011
0.85% 2012
1.20% 2013
1.55% 2014
1.90% 2015
2.30% 2016
2.60% 2017
2.85% 2018
3.10% 2019
3.30% 2020
$1,026,165.35 $141,084.65
$1,032,876.60 $143,494.23
$1,007,184.50 $143,573.83
$1,007,895.00 $144,129.17
2.6067%
2.6341
2.6780%
2.6838%
(Continued)
Public Sector Advisors
Bidder
Interest
Rates
Price
Net Interest
Cost
True Interest
Rate
ROBERT W. BAIRD & COMPANY,
INCORPORATED
C.L. KING & ASSOCIATES
LOOP CAPITAL MARKETS, LLC
KILDARE CAPITAL
WEDBUSH MORGAN SECURITIES
UBS FINANCIAL SERVICES INC.
NORTHLAND SECURITIES
3.00% 2011 -2017
4.00% 2018 -2020
3.00% 2011
2.00% 2012 -2015
3.00% 2016 -2019
3.125% 2020
2.00% 2011 -2015
2.25% 2016
2.65% 2017
2.90% 2018
3.10% 2019
3.25% 2020
$1,051,648.70 $152,117.97
$1,015,268.40 $149,344.10
$1,008,759.70 $150,046.97
2.7569%
2.7780%
2.8003%
REOFFERING SCHEDULE OF THE PURCHASER
Rate
2.00%
2.00%
2.00%
2.00%
3.00%
3.00%
3.00%
3.00%
3.00%
3.00%
Year
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Yield
0.55%
0.85%
1.16%
1.51%
1.86%
2.27%
2.57%
2.77%
2.95%
3.11%
BBI: 4.29%
Average Maturity: 5.273 Years
* Subsequent to bid opening, the issue size decreased from $1,015,000 to $1,000,000.
•
•
•
AGENDA ITEMS 2A
STAFF ORIGINATOR Al Rolek
MEETING DATE May 10, 2010
TOPIC Consideration of Resolution No. 10 -42 Awarding the Sale of
$1,015,000 General Obligation Improvement and Utility Revenue
Refunding Bonds, Series 2010A
VOTE REQUIRED
BACKGROUND
Simple Majority
On April 12, 2010. the City Council approved Resolution No. 10 -31 calling for the issuance of
$1,015,000 G.O. Improvement and Utility Revenue Refunding Bonds to refinance the
outstanding balance of the G.O. Improvement and Utility Revenue Bonds, Series 2004A. It was
estimated at the time that by refunding the issue that the city could achieve net present value
savings of approximately $41,120 over the term of the issue, a 4.26% savings. The refunding
issue would have a 10 -year term and would be repaid through previously adopted special
assessments and use of utility revenues.
The City has since issued its Official Statement and advertised for bids for this issue. Bids were
received earlier today by the City's financial advisors, Springsted, Inc. Terri Heaton of Springsted,
Inc. is here tonight to present the results of the bidding process.
Following Ms Heaton's presentation, it is staff's recommendation that the City Council adopt
Resolution No. 10 -42 Awarding the Sale of $1,015,000 General Obligation Improvement and
Utility Revenue Refunding Bonds, Series 2010A.
OPTIONS
1. Adopt Resolution No. 10 -42.
2. Refer to Staff for further review.
3. Deny Resolution No. 10 -42.
4.
RECOMMENDATION;
Option 1
Extract of Minutes of Meeting
of the City Council of the City of
Lino Lakes, Anoka County, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Lino Lakes, Anoka County, was duly held in the City Hall in said City on Monday, May 10,
2010, commencing at 6:30 P.M.
The following members were present:
and the following were absent:
* * *
The Mayor announced that the next order of business was consideration of the proposals
which had been received for the purchase of the City's approximately $1,015,000 General
Obligation Improvement and Utility Revenue Refunding Bonds, Series 2010A.
The Acting City Administrator presented a tabulation of the proposals which had been
received in the manner specified in the Terms of Proposal of the Bonds. The proposals were as
set forth in Exhibit A attached.
After due consideration of the proposals, Member then
introduced the following written resolution, the reading of which was dispensed with by
unanimous consent, and moved its adoption:
In accordance with the official Terms of Proposal the following adjustments were made:
Principal Amount:
Maturities:
Minimum Purchase Price:
367721v1 SJB LN140 -106
•
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•
•
Council Member introduced the following resolution and moved its adoption:
RESOLUTION NO. 10 -42
A RESOLUTION AWARDING THE SALE OF $ GENERAL
OBLIGATION IMPROVEMENT AND UTILITY REVENUE
REFUNDING BONDS, SERIES 2010A;
FIXING THEIR FORM AND SPECIFICATIONS;
DIRECTING THEIR EXECUTION AND DELIVERY;
AND PROVIDING FOR THEIR PAYMENT
BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka County,
Minnesota (the "City ") as follows:
Section 1. Sale of Bonds.
1.01. The proposal of
(the "Purchaser ") to purchase $ General Obligation Improvement and Utility
Revenue Refunding Bonds, Series 2010A (the "Bonds ") of the City described in the Terms of
Proposal thereof is determined to be a reasonable offer and is accepted, the proposal being to
purchase the Bonds at a price of $ plus accrued interest to date of delivery, for
Bonds bearing interest as follows:
Year Interest Rate Year Interest Rate
2011 2016
2012 2017
2013 2018
2014 2019
2015 2020
True interest cost:
1.02. The sum of $ being the amount proposed by the Purchaser in excess
of $ is credited to the Debt Service Fund hereinafter created, or applied to
redemption of the Refunded Bonds in accordance with Section 5 hereof, as determined by the
City's financial advisor. The City Finance Director is directed to retain the good faith check of
the Purchaser, pending completion of the sale of the Bonds, and to return the good faith checks
of the unsuccessful proposers forthwith. The Mayor and Acting City Administrator are directed
to execute a contract with the Purchaser on behalf of the City.
1.03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes,
Chapter 475 (the "Act ") in the total principal amount of $ , originally dated June 1,
2010, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R -1,
367721v1 SJB LN140 -106
upward, bearing interest as above set forth, and which mature serially on February 1 without
option of prior payment in the years and amounts as follows:
Year Amount Year Amount
2011 2016
2012 2017
2013 2018
2014 2019
2015 2020
$ of the Bonds (the "Improvement Refunding Bonds ") maturing in the amounts and on
the dates set forth below are being issued to refund the portion of the Refunded Bonds that financed
certain improvements pursuant to Minnesota Statutes, Chapter 429:
Year Amount Year Amount
2011 2016
2012 2017
2013 2018
2014 2019
2015 2020
The remaining $ of the Bonds (the "Utility Revenue Refunding Bonds ") maturing in
the amounts and on the dates set forth below are being issued to refund the portion of the Refunded
Bonds that financed certain improvements under Minnesota Statutes, Chapter 444:
Year Amount Year Amount
2011 2016
2012 2017
2013 2018
2014 2019
2015 2020
1.04. Term Bonds. To be completed if Term Bonds are requested by the Purchaser.
Section 2. Registration and Payment.
2.01. Registered Form. The Bonds will be issued only in fully registered form. The
interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by
check or draft issued by the Registrar described herein.
2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest
payment date preceding the date of authentication to which interest on the Bond has been paid or
367721v1 SJB LN140 -106
-30-
•
•
•
•
•
•
made available for payment, unless (i) the date of authentication is an interest payment date to
which interest has been paid or made available for payment, in which case the Bond will be
dated as of the date of authentication, or (ii) the date of authentication is prior to the first interest
payment date, in which case the Bond will be dated as of the date of original issue. The interest
on the Bonds is payable on February 1 and August 1 of each year, commencing February 1,
2011, to the registered owners of record as of the close of business on the fifteenth day of the
immediately preceding month, whether or not that day is a business day.
2.03. Registration. The City will appoint, and will maintain, a bond registrar, transfer
agent, authenticating agent and paying agent (the "Registrar "). The effect of registration and the
rights and duties of the City and the Registrar with respect thereto are as follows:
(a) Register. The Registrar must keep at its principal corporate trust office a
bond register in which the Registrar provides for the registration of ownership of Bonds
and the registration of transfers and exchanges of Bonds entitled to be registered,
transferred or exchanged.
(b) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed
by the registered owner thereof or accompanied by a written instrument of transfer, in
form satisfactory to the Registrar, duly executed by the registered owner thereof or by an
attorney duly authorized by the registered owner in writing, the Registrar will
authenticate and deliver, in the name of the designated transferee or transferees, one or
more new Bonds of a like aggregate principal amount and maturity, as requested by the
transferor. The Registrar may, however, close the books for registration of any transfer
after the fifteenth day of the month preceding each interest payment date and until that
interest payment date.
(c) Exchange of Bonds. When Bonds are surrendered by the registered owner
for exchange the Registrar will authenticate and deliver one or more new Bonds of a like
aggregate principal amount and maturity as requested by the registered owner or the
owner's attorney in writing.
(d) Cancellation. Bonds surrendered upon transfer or exchange will be
promptly cancelled by the Registrar and thereafter disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When a Bond is presented to the
Registrar for transfer, the Registrar may refuse to transfer the Bond until the Registrar is
satisfied that the endorsement on the Bond or separate instrument of transfer is valid and
genuine and that the requested transfer is legally authorized. The Registrar will incur no
liability for the refusal, in good faith, to make transfers which it, in its judgment, deems
improper or unauthorized.
(f) Persons Deemed Owners. The City and the Registrar may treat the person
in whose name a Bond is registered in the bond register as the absolute owner of the
Bond, whether the Bond is overdue or not, for the purpose of receiving payment of, or on
367721v1 SJB LN 140 -106
account of, the principal of and interest on the Bond and for all other purposes, and
payments so made to a registered owner or upon the owner's order will be valid and
effectual to satisfy and discharge the liability upon the Bond to the extent of the sum or
sums so paid.
(g) Taxes, Fees and Charges. The Registrar may impose a charge upon the
owner thereof for a transfer or exchange of Bonds sufficient to reimburse the Registrar
for any tax, fee or other governmental charge required to be paid with respect to the
transfer or exchange.
(h) Mutilated, Lost, Stolen or Destroyed Bonds. If a Bond becomes mutilated
or is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount,
number, maturity date and tenor in exchange and substitution for and upon cancellation
of the mutilated Bond or in lieu of and in substitution for any Bond destroyed, stolen or
lost, upon the payment of the reasonable expenses and charges of the Registrar in
connection therewith; and, in the case of a Bond destroyed, stolen or lost, upon filing
with the Registrar of evidence satisfactory to it that the Bond was destroyed, stolen or
lost, and of the ownership thereof, and upon furnishing to the Registrar an appropriate
bond or indemnity in form, substance and amount satisfactory to it and as provided by
law, in which both the City and the Registrar must be named as obligees. Bonds so
surrendered to the Registrar will be cancelled by the Registrar and evidence of such
cancellation must be given to the City. If the mutilated, destroyed, stolen or lost Bond
has already matured or been called for redemption in accordance with its terms it is not
necessary to issue a new Bond prior to payment.
2.04. Appointment of Initial Registrar. The City appoints U.S. Bank National
Association, St. Paul, Minnesota, as the initial Registrar. The Mayor and the Acting City
Administrator are authorized to execute and deliver, on behalf of the City, a contract with the
Registrar. Upon merger or consolidation of the Registrar with another corporation, if the
resulting corporation is a bank or trust company authorized by law to conduct such business, the
resulting corporation is authorized to act as successor Registrar. The City agrees to pay the
reasonable and customary charges of the Registrar for the services performed. The City reserves
the right to remove the Registrar upon 30 days' notice and upon the appointment of a successor
Registrar, in which event the predecessor Registrar must deliver all cash and Bonds in its
possession to the successor Registrar and must deliver the bond register to the successor
Registrar. On or before each principal or interest due date, without further order of this Council,
the City Finance Director must transmit to the Registrar monies sufficient for the payment of all
principal and interest then due.
2.05. Execution, Authentication and Delivery. The Bonds will be prepared under the
direction of the Acting City Administrator and executed on behalf of the City by the signatures of
the Mayor and the Acting City Administrator, provided that all signatures may be printed,
engraved or lithographed facsimiles of the originals. If an officer whose signature or a facsimile
of whose signature appears on the Bonds ceases to be such officer before the delivery of any
Bond, that signature or facsimile will nevertheless be valid and sufficient for all purposes, the
367721v1 SJB LNI40 -106
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same as if the officer had remained in office until delivery. Notwithstanding such execution, a
Bond will not be valid or obligatory for any purpose or entitled to any security or benefit under
this Resolution unless and until a certificate of authentication on the Bond has been duly
executed by the manual signature of an authorized representative of the Registrar. Certificates of
authentication on different Bonds need not be signed by the same representative. The executed
certificate of authentication on a Bond is conclusive evidence that it has been authenticated and
delivered under this Resolution. When the Bonds have been so prepared, executed and
authenticated, the Acting City Administrator will deliver the same to the Purchaser upon payment
of the purchase price in accordance with the contract of sale heretofore made and executed, and
the Purchaser is not obligated to see to the application of the purchase price.
2.06. Temporary Bonds. The City may elect to deliver in lieu of printed definitive
Bonds one or more typewritten temporary Bonds in substantially the form set forth in Section 3
with such changes as may be necessary to reflect more than one maturity in a single temporary
bond. Upon the execution and delivery of definitive Bonds the temporary Bonds will be
exchanged therefor and cancelled.
Section 3. Form of Bond.
3.01. The Bonds will be printed or typewritten in substantially the following form:
No. R- UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF LINO LAKES
GENERAL OBLIGATION IMPROVEMENT AND
UTILITY REVENUE REFUNDING BOND, SERIES 2010A
Date of
Rate Maturity Original Issue
February 1, 20_ June 1, 2010
Registered Owner: Cede & Co.
CUSIP
The City of Lino Lakes, Minnesota, a duly organized and existing municipal corporation
in Anoka County, Minnesota (the "City "), acknowledges itself to be indebted and for value
received promises to pay to the Registered Owner specified above or registered assigns, the
principal sum of $ on the maturity date specified above without option of prior
367721v1 SJB LN140 -106
payment, with interest thereon from the date hereof at the annual rate specified above, payable
February 1 and August 1 in each year, commencing February 1, 2011, to the person in whose
name this Bond is registered at the close of business on the fifteenth day (whether or not a
business day) of the immediately preceding month. The interest hereon and, upon presentation
and surrender hereof, the principal hereof are payable in lawful money of the United States of
America by check or draft by U.S. Bank National Association, St. Paul, Minnesota, as Registrar,
Paying Agent, Transfer Agent and Authenticating Agent, or its designated successor under the
Resolution described herein. For the prompt and full payment of such principal and interest as
the same respectively become due, the full faith and credit and taxing powers of the City have
been and are hereby irrevocably pledged.
The City Council has designated the issue of Bonds of which this Bond forms a part as
"qualified tax exempt obligations" within the meaning of Section 265(b)(3) of the Internal
Revenue Code of 1986, as amended (the "Code ") relating to disallowance of interest expense for
financial institutions and within the $30 million limit allowed by the Code for the calendar year
of issue.
This Bond is one of an issue in the aggregate principal amount of $ all of like
original issue date and tenor, except as to number, maturity date, and interest rate, all issued
pursuant to a resolution adopted by the City Council on May 10, 2010 (the "Resolution "), for the
purpose of providing money to refund the outstanding principal amount of certain general
obligation bonds of the City, pursuant to and in full conformity with the home rule charter of the
City and the Constitution and laws of the State of Minnesota, including Minnesota Statutes,
Chapters 429, 475 and 444, and the principal hereof and interest hereon are payable in part from
special assessments against property specially benefited by local improvements and in part from
net revenues of the water utility system of the City in a special debt service fund of the City as
set forth in the Resolution to which reference is made for a full statement of rights and powers
thereby conferred. The full faith and credit of the City are irrevocably pledged for payment of
this Bond and the City Council has obligated itself to levy ad valorem taxes on all taxable
property in the City in the event of any deficiency in special assessments or net revenues of the
water utility system pledged, which taxes may be levied without limitation as to rate or amount.
The Bonds of this series are issued only as fully registered Bonds in denominations of $5,000 or
any integral multiple thereof of single maturities.
As provided in the Resolution and subject to certain limitations set forth therein, this
Bond is transferable upon the books of the City at the principal office of the Registrar, by the
registered owner hereof in person or by the owner's attorney duly authorized in writing, upon
surrender hereof together with a written instrument of transfer satisfactory to the Registrar, duly
executed by the registered owner or the owner's attorney; and may also be surrendered in
exchange for Bonds of other authorized denominations. Upon such transfer or exchange the City
will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of
the same aggregate principal amount, bearing interest at the same rate and maturing on the same
date, subject to reimbursement for any tax, fee or governmental charge required to be paid with
respect to such transfer or exchange.
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The City and the Registrar may deem and treat the person in whose name this Bond is
registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose of
receiving payment and for all other purposes, and neither the City nor the Registrar will be
affected by any notice to the contrary.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts,
conditions and things required by the home rule charter of the City and the Constitution and laws
of the State of Minnesota to be done, to exist, to happen and to be performed preliminary to and
in the issuance of this Bond in order to make it a valid and binding general obligation of the City
in accordance with its terms, have been done, do exist, have happened and have been performed
as so required, and that the issuance of this Bond does not cause the indebtedness of the City to
exceed any constitutional, statutory or charter limitation of indebtedness.
This Bond is not valid or obligatory for any purpose or entitled to any security or benefit
under the Resolution until the Certificate of Authentication hereon has been executed by the
Registrar by manual signature of one of its authorized representatives.
IN WITNESS WHEREOF, the City of Lino Lakes, Anoka County, Minnesota, by its City
Council, has caused this Bond to be executed on its behalf by the facsimile or manual signatures
of the Mayor and Acting City Administrator and has caused this Bond to be dated as of the date
set forth below.
Dated:
CITY OF LINO LAKES, MINNESOTA
(Facsimile) (Facsimile)
Acting City Administrator Mayor
CERTIFICATE OF AUTHENTICATION
This is one of the Bonds delivered pursuant to the Resolution mentioned within.
U.S. BANK NATIONAL ASSOCIATION
367721v1 SJB LN140 -106
By
Authorized Representative
The following abbreviations, when used in the inscription on the face of this Bond, will
be construed as though they were written out in full according to applicable laws or regulations:
TEN COM -- as tenants
in common
TEN ENT -- as tenants
by entireties
UNIF GIFT MIN ACT Custodian
(Cult) (Minor)
JT TEN -- as joint tenants with
right of survivorship and
not as tenants in common
under Uniform Gifts or
Transfers to Minors
Act
(State)
Additional abbreviations may also be used though not in the above list.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and
does hereby irrevocably constitute and appoint attorney to
transfer the said Bond on the books kept for registration of the within Bond, with full power of
substitution in the premises.
Dated:
Notice: The assignor's signature to this assignment must correspond with the name as it
appears upon the face of the within Bond in every particular, without alteration or
any change whatever.
Signature Guaranteed:
NOTICE: Signature(s) must be guaranteed by a financial institution that is a member of the
Securities Transfer Agent Medallion Program ( "STAMP "), the Stock Exchange Medallion
Program ( "SEMP "), the New York Stock Exchange, Inc. Medallion Signatures Program ( "MSP ")
or other such "signature guarantee program" as may be determined by the Registrar in addition
to, or in substitution for, STAMP, SEMP or MSP, all in accordance with the Securities Exchange
Act of 1934, as amended.
The Registrar will not effect transfer of this Bond unless the information concerning the
assignee requested below is provided.
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Name and Address:
(Include information for all joint owners if this
Bond is held by joint account.)
Please insert social security or other
identifying number of assignee
PROVISIONS AS TO REGISTRATION
The ownership of the principal of and interest on the within Bond has been registered on
the books of the Registrar in the name of the person last noted below.
Date of Registration
Signature of
Registered Owner Officer of Registrar
Cede & Co.
Federal ID #13- 2555119
3.02. The Acting City Administrator is authorized and directed to obtain a copy of the
proposed approving legal opinion of Kennedy & Graven, Chartered, Minneapolis, Minnesota,
which is to be complete except as to dating thereof and cause the opinion to be printed on or
accompany each Bond.
Section 4. Payment; Security; Pledges and Covenants.
4.01. (a) The Bonds are payable from the General Obligation Improvement
and Utility Revenue Refunding Bonds, Series 2010A Debt Service Fund ( "Debt Service
Fund ") hereby created. The City shall maintain an "Improvements Account" and a "Utility
Revenue Account" in the Debt Service Fund. The net revenues ( "Net Revenues ") of the City
water utility system and special assessments ( "Assessments ") levied for the improvements
fmanced by a portion of the Refunded Bonds, together with ad valorem taxes levied
hereunder, are hereby pledged to the respective accounts of Debt Service Fund as further
described in this Section. Amounts in the Utility Revenue Account are irrevocably
pledged to the Utility Revenue Refunding Bonds portion of the Bonds, and amounts in the
Improvements Account are irrevocably pledged to the Improvement Refunding Bonds
portion of the Bonds.
367721v1 SJB LN140 -106
There is appropriated to the Utility Revenue Account of the Debt Service Fund (i)
$ of the amount over the minimum purchase price paid by the Purchaser; and (ii)
$ of the accrued interest paid by the Purchaser upon closing and delivery of the
Bonds. There is appropriated to the Improvements Account of the Debt Service Fund (iii)
$ of the amount over the minimum purchase price paid by the Purchaser, and
(iv) $ of accrued interest paid by the Purchaser upon closing and delivery of the
Bonds.
If the balance in either account established in the Debt Service Fund is at any time
insufficient to pay all interest and principal then due on the respective portion of the Bonds
payable therefrom, the Council covenants and agrees that it will each year levy an amount
sufficient to take care of any accumulated or anticipated deficiency, which levy is not
subject to any limitation as to rate or amount.
(b) The City Finance Director shall timely deposit in the Utility Revenue
Account the Net Revenues hereinafter collected in accordance with Section 4.02. If any
payment of principal or interest on the Utility Revenue Refunding Bonds portion of the
Bonds shall become due when there is not sufficient money in the Utility Revenue Account
of the Debt Service Fund to pay the same, the Finance Director is directed to pay such
principal or interest from the general fund of the City, and the general fund will be
reimbursed for such advances out of the proceeds of Net Revenues when collected.
(c) The City Finance Director shall timely deposit in the Improvements Account
all Assessments levied for the improvements fmanced by a portion of the Refunded Bonds.
If any payment of principal or interest on the Improvement Refunding Bonds portion of the
Bonds shall become due when there is not sufficient money in the Improvements Account
of the Debt Service Fund to pay the same, the Finance Director is directed to pay such
principal or interest from the general fund of the City, and the general fund will be
reimbursed for such advances out of the proceeds of the Assessments when collected.
4.02. The City Council covenants and agrees with the holders of the Bonds that so long
as any of the Utility Revenue Refunding Bonds portion of the Bonds remain outstanding and
unpaid, it will keep and enforce the following covenants and agreements:
(a) The City will continue to maintain and efficiently operate the water utility
system as a public utility and convenience free from competition of other like municipal
utilities and will cause all revenues therefrom to be deposited in bank accounts and
credited to the utility system accounts as hereinabove provided, and will make no
expenditures from those accounts except for a duly authorized purpose and in accordance
with this resolution.
(b) The City will also maintain the Utility Revenue Account of the Debt
Service Fund as a separate account in the water utility fund, and will cause money to be
credited thereto from time to time, out of Net Revenues from the water utility plant and
367721v1 SJB LN140 -106
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system in sums sufficient to pay principal of and interest on the Utility Revenue
Refunding Bonds portion of the Bonds when due.
(c) The City will keep and maintain proper and adequate books of records and
accounts separate from all other records of the City in which will be complete and correct
entries as to all transactions relating to the utility system and which will be open to
inspection and copying by any bondholder, or the bondholder's agent or attorney, at any
reasonable time, and it will furnish certified transcripts therefrom upon request and upon
payment of a reasonable fee therefor, and said account will be audited at least annually by
a qualified public accountant and statements of such audit and report will be furnished to
all bondholders upon request.
(d) The City Council will cause persons handling revenues of the water utility
system to be bonded in reasonable amounts for the protection of the City and the
bondholders and will cause the funds collected on account of the operations of the water
utility system to be deposited in a bank whose deposits are guaranteed under the Federal
Deposit Insurance Law.
(e) The Council will keep the water utility system insured at all times against
loss by fire, tornado and other risks customarily insured against with an insurer or
insurers in good standing, in such amounts as are customary for like plants, to protect the
holders, from time to time, of the Bonds and the City from any loss due to any such
casualty and will apply the proceeds of such insurance to make good any such loss.
(f) The City and each and all of its officers will punctually perform all duties
with reference to the utility system as required by law.
(g) The City will impose and collect charges of the nature authorized by
Minnesota Statutes, Section 444.075 at the times and in the amounts required to produce,
Net Revenues adequate to pay all principal and interest when due on the Utility Revenue
Refunding Bonds portion of the Bonds and to create and maintain such reserves securing
said payments as may be provided in this resolution.
(h) The City Council will levy general ad valorem taxes on all taxable
property in the City, when required to meet any deficiency in Net Revenues.
4.03. The Acting City Administrator is directed to file a certified copy of this resolution
with the Manager of Property Records and Taxation of Anoka County and to obtain the certificate
required by Section 475.63 of the Act.
4.04. It is hereby determined that the estimated collection of the Assessments will produce
at least five percent in excess of the amount needed to pay when due, the principal and interest
payments on the Improvement Refunding Bonds portion of the Bonds, and that the estimated
collection of Net Revenues will produce at least five percent in excess of the amount needed to pay
367721v1 SJB LN140 -106
when due the principal and interest payments on the Utility Revenue Refunding Bonds portion of
the Bonds, and therefore no tax levy is needed at this time.
Section 5. Refunding; Findings; Redemption of Refunded Bonds.
5.01. The Refunded Bonds are the General Obligation Improvement and Utility
Revenue Bonds, Series 2004A, of the City, dated November 15, 2004, of which $965,000 in
principal amount is callable on July 1, 2010. It is hereby found and determined that based upon
information presently available from the City's financial advisers, the issuance of the Bonds is
consistent with covenants made with the holders thereof and is necessary and desirable for the
reduction of debt service cost to the municipality.
5.02. It is hereby found and determined that the Proceeds will be sufficient to prepay all
of the principal of, interest on and redemption premium (if any) on the Refunded Bonds.
5.03. The Refunded Bonds maturing on February 1, 2011 and thereafter will be
redeemed and prepaid on July 1, 2010. The Refunded Bonds will be redeemed and prepaid in
accordance with their terms and in accordance with the terms and conditions set forth in the
forms of Notice of Call for Redemption attached hereto as Exhibit B which terms and conditions
are hereby approved and incorporated herein by reference. The Registrar for the Refunded
Bonds is authorized and directed to send a copy of the Notice of Redemption to each registered
holder of the Refunded Bonds.
Section 6. Authentication of Transcript.
6.01. The officers of the City are authorized and directed to prepare and furnish to the
Purchaser and to the attorneys approving the Bonds, certified copies of proceedings and records
of the City relating to the Bonds and to the financial condition and affairs of the City, and such
other certificates, affidavits and transcripts as may be required to show the facts within their
knowledge or as shown by the books and records in their custody and under their control,
relating to the validity and marketability of the Bonds and such instruments, including any
heretofore furnished, will be deemed representations of the City as to the facts stated therein.
6.02. The Mayor and Acting City Administrator are hereby authorized and directed to
certify that they have examined the Official Statement prepared and circulated in connection with
the issuance and sale of the Bonds and that to the best of their knowledge and belief the Official
Statement is a complete and accurate representation of the facts and representations made therein
as of the date of the Official Statement.
Section 7. Tax Covenant.
7.01. The City covenants and agrees with the holders from time to time of the Bonds
that it will not take or permit to be taken by any of its officers, employees or agents any action
which would cause the interest on the Bonds to become subject to taxation under the Internal
Revenue Code of 1986, as amended (the "Code "), and the Treasury Regulations promulgated
367721v1 5.1B LN140 -106
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thereunder, in effect at the time of such actions, and that it will take or cause its officers,
employees or agents to take, all affirmative action within its power that may be necessary to
ensure that such interest will not become subject to taxation under the Code and applicable
Treasury Regulations, as presently existing or as hereafter amended and made applicable to the
Bonds.
7.02. (a) The City will comply with requirements necessary under the Code to
establish and maintain the exclusion from gross income of the interest on the Bonds under
Section 103 of the Code, including without limitation requirements relating to temporary periods
for investments and limitations on amounts invested at a yield greater than the yield on the
Bonds.
(b) For purposes of qualifying for the small issuer exception to the federal arbitrage
rebate requirements, the City finds, determines and declares that:
(i) each of the Refunded Bonds was issued as part of an issue which was
treated as meeting the rebate requirements by reason of the exception for
governmental units issuing $5,000,000 or less of bonds;
(ii) the average maturity of the Bonds does not exceed the remaining average
maturity of the Refunded Bonds; and
• (iii) no maturity of the Bonds has a maturity date which is later than the date
which is 30 years after the date the Refunded Bonds were issued.
7.03. The City further covenants not to use the proceeds of the Bonds or to cause or
permit them or any of them to be used, in such a manner as to cause the Bonds to be "private
activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code.
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7.04. In order to qualify the Bonds as "qualified tax- exempt obligations" within the
meaning of Section 265(b)(3) of the Code, the City makes the following factual statements and
representations:
(a) the Bonds are not "private activity bonds" as defined in Section 141 of the
Code;
(b) the City hereby designates the Bonds as "qualified tax - exempt
obligations" for purposes of Section 265(b)(3) of the Code;
(c) the reasonably anticipated amount of tax- exempt obligations (other than
any private activity bonds that are not qualified 501(c)(3) bonds) which will be issued by
the City (and all subordinate entities of the City) during calendar year 2010 will not
exceed $30,000,000; and
367721v 1 SJB LN 140 -106
(d) not more than $30,000,000 of obligations issued by the City during
calendar year 2010 have been designated for purposes of Section 265(b)(3) of the Code.
(a)
7.05. The City will use its best efforts to comply with any federal procedural
requirements which may apply in order to effectuate the designations made by this section.
Section 8. Book -Entry System; Limited Obligation of City.
8.01. The Bonds will be initially issued in the form of a separate single typewritten or
printed fully registered Bond for each of the maturities set forth in Section 1.03 hereof. Upon
initial issuance, the ownership of each Bond will be registered in the registration books kept by
the Registrar in the name of Cede & Co., as nominee for The Depository Trust Company, New
York, New York, and its successors and assigns ( "DTC "). Except as provided in this section, all
of the outstanding Bonds will be registered in the registration books kept by the Registrar in the
name of Cede & Co., as nominee of DTC.
8.02. With respect to Bonds registered in the registration books kept by the Registrar in
the name of Cede & Co., as nominee of DTC, the City, the Registrar and the Paying Agent will
have no responsibility or obligation to any broker dealers, banks and other financial institutions
from time to time for which DTC holds Bonds as securities depository (the "Participants ") or to
any other person on behalf of which a Participant holds an interest in the Bonds, including but
not limited to any responsibility or obligation with respect to (i) the accuracy of the records of
DTC, Cede & Co. or any Participant with respect to any ownership interest in the Bonds, (ii) the
delivery to any Participant or any other person (other than a registered owner of Bonds, as shown
by the registration books kept by the Registrar), of any notice with respect to the Bonds,
including any notice of redemption, or (iii) the payment to any Participant or any other person,
other than a registered owner of Bonds, of any amount with respect to principal of, premium, if
any, or interest on the Bonds. The City, the Registrar and the Paying Agent may treat and
consider the person in whose name each Bond is registered in the registration books kept by the
Registrar as the holder and absolute owner of such Bond for the purpose of payment of principal,
premium and interest with respect to such Bond, for the purpose of registering transfers with
respect to such Bonds, and for all other purposes. The Paying Agent will pay all principal of,
premium, if any, and interest on the Bonds only to or on the order of the respective registered
owners, as shown in the registration books kept by the Registrar, and all such payments will be
valid and effectual to fully satisfy and discharge the City's obligations with respect to payment of
principal of, premium, if any, or interest on the Bonds to the extent of the sum or sums so paid.
No person other than a registered owner of Bonds, as shown in the registration books kept by the
Registrar, will receive a certificated Bond evidencing the obligation of this resolution. Upon
delivery by DTC to the Acting City Administrator of a written notice to the effect that DTC has
determined to substitute a new nominee in place of Cede & Co., the words "Cede & Co.," will
refer to such new nominee of DTC; and upon receipt of such a notice, the Acting City
Administrator will promptly deliver a copy of the same to the Registrar and Paying Agent.
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8.03. Representation Letter. The City has heretofore executed and delivered to DTC a
Blanket Issuer Letter of Representations (the "Representation Letter ") which will govern
payment of principal of, premium, if any, and interest on the Bonds and notices with respect to
the Bonds. Any Paying Agent or Registrar subsequently appointed by the City with respect to
the Bonds will agree to take all action necessary for all representations of the City in the
Representation letter with respect to the Registrar and Paying Agent, respectively, to be complied
with at all times.
8.04. Transfers Outside Book -Entry System. In the event the City, by resolution of the
City Council, determines that it is in the best interests of the persons having beneficial interests
in the Bonds that they be able to obtain Bond certificates, the City will notify DTC, whereupon
DTC will notify the Participants, of the availability through DTC of Bond certificates. In such
event the City will issue, transfer and exchange Bond certificates as requested by DTC and any
other registered owners in accordance with the provisions of this Resolution. DTC may
determine to discontinue providing its services with respect to the Bonds at any time by giving
notice to the City and discharging its responsibilities with respect thereto under applicable law.
In such event, if no successor securities depository is appointed, the City will issue and the
Registrar will authenticate Bond certificates in accordance with this resolution and the provisions
hereof will apply to the transfer, exchange and method of payment thereof.
8.05. Payments to Cede & Co. Notwithstanding any other provision of this Resolution
to the contrary, so long as a Bond is registered in the name of Cede & Co., as nominee of DTC,
payments with respect to principal of, premium, if any, and interest on the Bond and notices with
respect to the Bond will be made and given, respectively in the manner provided in DTC's
Operational Arrangements as set forth in the Representation Letter.
Section 9. Continuing Disclosure.
9.01. The City hereby covenants and agrees that it will comply with and carry out all of
the provisions of the Continuing Disclosure Certificate. Notwithstanding any other provision of
this Resolution, failure of the City to comply with the Continuing Disclosure Certificate will not
be considered an event of default with respect to the Bonds; however, any Bondholder may take
such actions as may be necessary and appropriate, including seeking mandate or specific
performance by court order, to cause the City to comply with its obligations under this section.
9.02. "Continuing Disclosure Certificate" means that certain Continuing Disclosure
Certificate executed by the Mayor and Acting City Administrator and dated the date of issuance
and delivery of the Bonds, as originally executed and as it may be amended from time to time in
accordance with the terms thereof.
367721v1 SJB LN140 -106
Section 10. Defeasance.
10.01. When all Bonds (or all or either of the Improvement Refunding Bonds or Utility
Revenue Refunding Bonds portion thereof) and all interest thereon, have been discharged as
provided in this section, all pledges, covenants and other rights granted by this resolution (with
respect to the Improvement Refunding Bonds or Utility Revenue Refunding Bonds portions of the
Bonds, as the case may be) to the holders of the Bonds will cease, except that the pledge of the full
faith and credit of the City for the prompt and full payment of the principal of and interest on the
Bonds will remain in full force and effect. The City may discharge all Bonds (or either portion
thereof) which are due on any date by depositing with the Registrar on or before that date a sum
sufficient for the payment thereof in full. If any Bond should not be paid when due, it may
nevertheless be discharged by depositing with the Registrar a sum sufficient for the payment thereof
in full with interest accrued to the date of such deposit.
(The remainder of this page is intentionally left blank.)
367721v1 SJB LN140 -106
•
Passed by the Lino Lakes City Council this 10th day of May 2010.
Jeff Reinert, Mayor
ATTEST:
Julie Bartell, City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by Council Member
and upon vote being taken thereon, the following voted in favor thereof:
The following voted against same:
Whereupon said resolution was declared duly passed and adopted.
• STATE OF MINNESOTA )
COUNTY OF ANOKA ) SS.
CITY OF LINO LAKES )
I, the undersigned, being the duly qualified and acting City Clerk of the City of Lino
Lakes, Anoka County, Minnesota, do hereby certify that I have carefully compared the attached
and foregoing extract of minutes of a regular meeting of the City Council of the City held on
May 10, 2010 with the original minutes on file in my office and the extract is a full, true and
correct copy of the minutes insofar as they relate to the issuance and sale of $
General Obligation Improvement and Utility Revenue Refunding Bonds, Series 2010A of the
City.
WITNESS My hand officially as such City Clerk and the corporate seal of the City this
day of , 2010.
•367721v1 S.IB LN 140 -106
City Clerk
Lino Lakes, Minnesota
(SEAL)
367721v1 SJB LN140 -106
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STATE OF MINNESOTA
COUNTY OF ANOKA
MANAGER OF PROPERTY
RECORDS AND TAXATION'S
CERTIFICATE AS TO
REGISTRATION WHERE NO AD
VALOREM TAX LEVY
I, the undersigned Manager of Property Records and Taxation of Anoka County, Minnesota,
hereby certify that a resolution adopted by the City Council of the City of Lino Lakes, Minnesota,
on May 10, 2010, relating to General Obligation Improvement and Utility Revenue Refunding
Bonds, Series 2010A, in the amount of $ , dated June 1, 2010, has been filed in
my office and said obligations have been registered on the register of obligations in my office.
WITNESS My hand and official seal this day of , 2010.
(SEAL)
367721v1 SJB LN140 -106
Manager of Property Records and Taxation
Anoka County, Minnesota
Deputy
EXHIBIT A
PROPOSALS
367721v1 SJB LN140 -106
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EXHIBIT B
NOTICE OF CALL FOR REDEMPTION
$1,330,000
GENERAL OBLIGATION IMPROVEMENT AND UTILITY
REVENUE BONDS, SERIES 2004A
CITY OF LINO LAKES
ANOKA COUNTY, MINNESOTA
NOTICE IS HEREBY GIVEN that, by order of the City Council of the City of Lino
Lakes, Anoka County, Minnesota, there have been called for redemption and prepayment on
JULY 1, 2010
all outstanding bonds of the City designated as General Obligation Improvement and Utility
Revenue Bonds, Series 2004A, dated November 15, 2004, having stated maturity dates of
February 1 in the years 2011 through 2020, both inclusive, totaling $965,000 in principal
amount, and with the following CUSIP numbers:
Year of Maturity Amount CUSIP Number
2011 $85,000 536060 HM1
2012 85,000 536060 HN9
2013 85,000 536060 HP4
2014 90,000 536060 HQ2
2016 190,000 536060HS8
2018 205,000 536060 HU3
2020 225,000 536060 HW9
The bonds are being called at a price of par plus accrued interest to July 1, 2010, on which date
all interest on said bonds will cease to accrue. Holders of the bonds hereby called for redemption
are requested to present their bonds for payment at the main office of U.S. Bank National
Association, in the City of St. Paul, Minnesota on or before July 1, 2010.
367721v1 SJB LN140 -106
B -1
If by mail:
U.S. Bank National Association
Corporate Trust Operations
60 Livingston Avenue
EP- MN -WS3C
St. Paul, MN 55107
If by hand:
U.S. Bank National Association
60 Livingston Avenue
3rd Floor — Bond Drop Window
St. Paul, MN 55107
Important Notice: In compliance with the Jobs and Growth Tax Relief Reconciliation Act
of 2003, federal backup withholding tax will be withheld at the applicable backup withholding rate
in effect at the time the payment by the redeeming institutions if they are not provided with your
social security number or federal employer identification number, properly certified. This
requirement is fulfilled by submitting a W -9 Form, which may be obtained at a bank or other
fmancial institution.
The Registrar will not be responsible for the selection or use of the CUSIP number, nor is
any representation made as to the correctness indicated in the Redemption Notice or on any
Bond. It is included solely for convenience of the Holders.
Additional information may be obtained from:
Dated: May 10, 2010.
367721v1 SJB LN140 -106
U.S. Bank National Association
Corporate Trust Division
Bondholder Relations (800) 934 -6802
BY ORDER OF THE CITY COUNCIL
By /s/ Daniel Tesch
Acting City Administrator
City of Lino Lakes, Minnesota
B -2
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AGENDA ITEM 3D
STAFF ORIGINATOR: Daniel Tesch, Director of Administration, Interim C.A.
MEETING DATE: 22 March 2010
TOPIC: Lease Agreement with North Memorial Hospital Ambulance
VOTE REQUIRED: 3/5
BACKGROUND
North Memorial Hospital has been occupying space in the Centennial Fire District
Station 2 (Lino Lakes) for a number of years. That space includes garage space for
the ambulance as well as interior space for sleeping quarters.
Fire Chief Jerry Streich and I have been meeting with representatives of North
Memorial and have negotiated a lease agreement covering the space and operating
expenses. The fees are based on agreements the ambulance service has with similar
agencies. Additional revenue to the city per year will be approximately $8,000.00
RECOMMENDATION
Approve the agreement with North Memorial Ambulance
ATTACHMENTS
Lease Agreement
LEASE AGREEMENT
THIS LEASE AGREEMENT ("Lease"), is made and entered into this 1St day of
May, 2010, by and between the City of Lino Lakes ("Lessor ") and North Memorial
Health Care ( "Lessee ") (collectively "Parties ").
RECITALS
WHEREAS, Lessor is the owner of real property on which Station 2 of the
Centennial Fire District is located ( "Fire Station "); and
WHEREAS, Lessee desires to lease a portion of the Fire Station to store and
operate its ambulance; and
WHEREAS, Lessor is willing to lease to Lessee upon such tei ins and conditions
as are expressed herein.
NOW, THEREFORE, Lessor and Lessee hereby covenant and agree as follows:
1. LEASED PREMISES: Subject to, and upon the telluis, provisions, and
conditions hereinafter set forth, Lessor does hereby lease and demise unto
Lessee, the following premises:
2.
A portion of the real property known as Fire Station 2 located at the 7741
Lake Drive Lino Lakes, Minnesota, legally described as Caroles Estates, 2nd
Addition, Lot 17, Blk 2. The leased premises shall consist of 956 sq. feet
of interior space (7% of the entire building) to store and operate Lessee's
ambulance, as illustrated in the attached Exhibit A, and two exterior
parking stalls for Lessee's employees. Additionally, Lessee shall have the
non - exclusive right to use the following common areas: corridor, kitchen,
shower room, locker area, and restroom, subject to the rules, regulations
and policies of the Centennial Fire District, which may change from time to
time.
TERM OF LEASE: The team of this Lease shall commence as of the date
of execution and shall continue for a teiiii of three (3) years.
3. EARLY TERMINATION OF LEASE: The Lease may be terminated
without cause prior to the end of the term by either Party by providing 180
days written notice to the other Party. Upon termination of this Lease,
Lessee will promptly and peaceably surrender the Premises to Lessor in
substantially the same condition existing on the commencement date of the
Lease, ordinary and reasonable use, damage and wear excepted.
4. RENT: Lessee shall pay to Lessor Rent for the use of the Premises of
$676.00 per month. Rent does not include phone service, internet service
and garbage disposal, for which Lessee shall be solely responsible. Rent
also does not include operational costs that shall be paid directly to the
Centennial Fire District pursuant to a separate agreement.
Rent shall be payable in advance on or before the first day of each and
every month of this Lease. If the Effective Date of the Lease shall fall on
any day other than the first day of a month, Rent shall be prorated for the
first and last months of the Lease Term based upon the number of days
Lessee is in possession of the Premises.
If Lessee fails to pay Rent by the fifth day of the month in which such
payment is due, Lessee shall automatically be assessed and shall pay, as
additional Rent, a late charge equivalent to ten percent (10 %) of the amount
of such late payment. Lessor reserves the right to increase Rent by
providing Lessee with written notice at least 90 days in advance of the
effective date of the increase.
5. MAINTENANCE: Lessor shall be responsible for maintenance and repair
of all structural components, heating, ventilation, air conditioning,
electrical, plumbing and mechanical systems of the Premises with
exception of the provision stated below. Lessor shall be responsible for
maintaining the exterior and surrounding areas, including lawn care and
snow removal. The Lessee shall maintain and clean the areas within the
Leased Premises and shall be responsible for all damage arising out of its
use of the Fire Station, ordinary wear and tear excepted.
6. INSURANCE: During the term of this Lease, Lessor shall obtain and
maintain liability and property damage insurance for the entire property.
Lessee shall, at its own cost, maintain personal property and contents
insurance, as well as maintain public liability insurance in an amount
sufficient to cover the liability limits of Minn. Stat. § 466.04, as amended.
Lessor and the Centennial Fire District shall be named as an "additional
insured" on any insurance maintained by Lessee that relates to the Premises
or its use.
All insurance required to be maintained by Lessee under this Lease shall be
effected under valid and enforceable policies issued by a reputable
insurance company or companies authorized to do business in the State of
Minnesota. Not less than 10 days prior to the Lease term, Lessee shall
deliver to Lessor certificates of all insurance required to be maintained
hereunder. Lessee shall immediately notify Lessor of any changes in
coverage or policy status for the policies required to be maintained under
this Lease.
7. INDEMNITY: Lessee agrees to indemnify, defend and hold Lessor
harmless from and against any and all claims, actions, liability, and
damages of every kind and nature, and from and against all costs and
expenses, including reasonable attorneys fees, occasioned wholly or in part
by the use and occupancy of the Premises, or from any breach or default by
Lessee under this Lease, or from any act or omission or negligence of
Lessee, its agents, employees, licensees, or invitees, in or about the
Premises. In the event of any action or proceeding brought against Lessor,
by reason of any such claim, upon notice from Lessor, Lessee covenants to
defend such action or proceeding by counsel satisfactory to Lessor.
8. NON - LIABILITY OF LESSOR: Except in the event of negligence or an
intentional act by Lessor, its agents, employees, or contractors, Lessor shall
not be liable for any loss or damage resulting from or caused by any failure
to furnish heat, electricity, water, gas, air conditioning or sprinkler system,
nor for any consequential damage arising from interruption of any utility or
services, nor shall Lessor be liable for personal injury, death, or any
damage from any cause about the Premises or the Building.
9. ASSIGNMENT: Lessee shall not assign or transfer any of its rights under
this Lease or sublease any part of the Premises.
10. DEFAULT:
a. Should any voluntary or involuntary petition in bankruptcy be filed
by or against Lessee, Lessor may, by written notice to Lessee,
immediately terminate this Lease and terminate Lessee's right to
possession of the Premises. If Lessee does not voluntarily quit the
Premises upon receipt of notice of termination, Lessor may, in its
discretion, recover sole possession of the Premises in an eviction
(unlawful detainer) proceeding, and recover from Lessee all attorney
fees, costs, and expenses relating to such proceeding. In addition,
Lessor shall be entitled to recover all damages and other claims
arising prior to the date of teuiiination, including without limitation,
all rent due through the end of the month of termination, damages,
and attorney fees.
b. If Lessee defaults in the payment of Rent or Utilities and Services,
and such default continues for 20 days after Lessor's written notice
thereof to Lessee, or Lessee defaults in the prompt and full
performance of any other provision of this Lease and such default
continues for 30 days after Lessor's written notice thereof to Lessee,
or if Lessee makes an assignment for the benefit of creditors, or if a
receiver is appointed for the property of Lessee, or if Lessee
abandons the Premises, then, and in any such event, Lessor may by
written notice to Lessee, immediately terminate this Lease and
terminate Lessee's right to possession of the Premises. If Lessee
does not voluntarily quit the Premises upon receipt of notice of
termination, Lessor, may, in its discretion, recover sole possession of
the Premises in an eviction (unlawful detainer) proceeding, and
recover from Lessee all attorney fees, costs, and expenses relating to
such proceeding. In addition, Lessor shall be entitled to recover all
damages and pursue all claims arising prior to the date of
termination, including without limitation all rent due through the end
of the month of termination, damages, and attorney fees.
11. RIGHT OF ENTRY: Lessor and its employees or agents shall have the
right, without any diminution of Rent, additional Rent or other charges
payable hereunder by Lessee, to enter the Premises at all reasonable times
and upon reasonable notice for the purpose of inspection, cleaning,
repairing, altering or improving the same or the Premises, but nothing
contained in this provision shall be construed so as to impose any
obligation on Lessor to make any repairs, alterations or improvements.
12. USE BY LESSEE: Lessee agrees to comply with all laws, ordinances,
orders, rules, and regulations promulgated by all government agencies
which relate to the use, condition, or occupancy of the Premises by Lessee.
Lessee warrants that it will abide by Lessor's workplace policies and the
Premises will remain tobacco and chemical free. Lessee acknowledges and
agrees that Lessor has the exclusive authority to modify and/or change its
rules and regulations at any time.
Lessee shall not make any alterations or improvements to the Premises
without prior written consent of Lessor. All alterations and improvements
to the Premises and fixtures shall become the property of Lessor.
13. SAFETY AND SECURITY: Lessee is solely responsible for the safety and
security of its employees, guests, and invitees while they are on the
Premises. The Lessee is also responsible for maintaining security of the
structure as well as the confidentiality of any door codes, keys, entry
devices and they like used to gain access into the structure.
14. SIGNS: Lessee agrees that no exterior or interior window or door sign,
advertising media, or window or door lettering or placards or other signs or
advertising materials shall be installed, erected, attached or affixed to any
portion of the interior or exterior of the Premises or the Building, without
the express prior written consent of Lessor.
15. DAMAGE OR DES 'RUCTION OF PREMISES: If the Premises are
damaged or destroyed by fire or other casualty, Lessee shall have the right
to terminate this Lease provided it gives written notice thereof to Lessor
within 60 days after such damage or destruction, unless such fire, damage,
or destruction is proved to be the fault of Lessee.
16. SUCCESSORS: It is agreed that the covenants, terms and conditions of
this Lease shall extend, apply to and firmly bind the heirs, executors,
administrators, successors, and assigns of the respective parties.
17. SEVERABILITY: If any term, condition, or provision of this Lease or the
application thereof to any person or circumstance shall, to any extent, be
held to be invalid or unenforceable, the remainder thereof and the
application of such term, provision and condition to persons or
circumstances other than those as to whom it shall be held invalid or
unenforceable shall not be affected thereby, and this Lease and all terms,
provisions and conditions hereof shall, in all other aspects, continue to be
effective and to be complied with to the fullest extent permitted by law.
18. RELATIONSHIP: This Lease does not create the relationship of principal
and agent, partnership, joint venture, or any other association between
Lessor and Lessee.
19. CONSTRUCTION OF LEASE: It is agreed that this Lease shall be
governed by, construed, and enforced in accordance with the laws of the
State of Minnesota.
20. ENTIRE AGREEMENT: This Lease shall constitute the entire agreement
relating to the lease of the Premises between the Parties. Any prior
understanding or representation of any kind preceding the date of this Lease
shall not be binding upon either party except to the extent incorporated in
this Lease.
IN WITNESS WHEREOF, the parties hereto caused these presents to be validly
executed in their respective names, as of the day and year first above - written.
LESSOR: LESSEE:
CITY OF LINO LAKES NORTH MEMORIAL HEALTH CARE
By: By:
Its: Its:
By: By:
Its: Its:
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AGENDA ITEM 3B
STAFF ORIGINATOR: Daniel Tesch, Director of Administration Interim C.A
MEETING DATE: 10 May 2010
TOPIC: Appointment to the Centennial Utilities Commission
VOTE REQUIRED: 3/5
BACKGROUND
The city's former representative on the Centennial Utilities Commission relocated
outside the city of Lino Lakes. The city advertised for a new representative and
interviewed 2 applicants Monday May 3rd
It was the consensus of the council that Mr. Scott Bundy be appointed to the represent
the City of Lino Lakes on the Centennial Utilities Commission for the vacated term.
RECOMMENDATION
Appoint Mr. Scott Bundy
ATTACHMENTS
None
•
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AGENDA ITEM 4A
STAFF ORIGINATOR: David J. Pecchia
Public Safety Director /Chief of Police
DATE: May 10, 2010
TOPIC: Police Week 2010
VOTES REQUIRED: Simple Majority
BACKGROUND
Police week was designed to recognize the service given by the men and women who,
night and day, selflessly stand guard in our communities to safeguard the lives and
property of their fellow Americans. On October 1, 1962 President John F. Kennedy,
proclaimed May 15 of each year as Peace Officers' Memorial Day and the calendar
week of each year during which May 15 occurs as Police Week.
Staff is requesting that council acknowledge and read the attached proclamation in our
support of designating May 9 to May 15, 2010, as Police Week, and May 15th as Peace
Officer's Memorial Day in the city of Lino Lakes.
OPTIONS
1. Motion to approve
2. Motion to deny
RECOMMENDATION
Option No.1 — Approve support of Police Week 2010
Chief Pecchia announces that National Police Week is May 9 through May 15. Please join
the citizens of Lino Lakes in recognizing Police Week 2010.
PROCLAMATION
POLICE WEEK 2010
WHEREAS, the Congress of the United States of America has designated the calendar
week of each year during which May 15 occurs as "National Police Week" and May 1 5th
of each year to be "Peace Officers' Memorial Day "; and
WHEREAS, the members of the Lino Lakes Police Department play an essential role in
safeguarding the rights and freedoms of the City of Lino Lakes; and
WHEREAS, it is important that all citizens know and understand the duties,
responsibilities, hazards, and sacrifices of their Lino Lakes Police Department, and that
members of our law enforcement agency recognize their duty to serve the people by
safeguarding life and property, by protecting them against violence and disorder, and by
protecting the innocent against deception and the weak against oppression; and
WHEREAS, the members of the Lino Lakes Police Department play an essential role in
safeguarding the rights and freedoms of the City of Lino Lakes; and
NOW, THEREFORE, We, the Lino Lakes City Council, do hereby proclaim the
WEEK OF MAY 9T11 TO MAY 15TH
to be
POLICE WEEK
and call upon all citizens of Lino Lakes and upon all patriotic, civic and educational
organizations to observe the week of May 09 - 15, 2010, as Police Week with appropriate
ceremonies and observances in which all of our people may join in commemorating law
enforcement officers, past and present, who, by their faithful and loyal devotion to their
responsibilities, have rendered a dedicated service to their communities and, in so doing,
have established for themselves an enviable and enduring reputation for preserving the
rights and security of all citizens.
Jeff Reinert, Mayor
Julie Bartell, City Clerk
•
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AGENDA ITEM 4B
STAFF ORIGINATOR: David J. Pecchia
Public Safety Director /Chief of Police
DATE: May 10, 2010
TOPIC:
Consideration of Resolution No. 10- 43 assigning
police officer to the Ramsey County Violent Crime
Enforcement Team
VOTES REQUIRED: Simple Majority
BACKGROUND
The Ramsey County Violent Crime Enforcement Team (VCET) was established to
coordinate efforts to investigate, apprehend and prosecute those individuals engaged in
violent crimes. The criminals involved in these crimes often have connections to drugs,
gangs and weapons. The VCET is comprised of police officers from 7 different law
enforcement agencies in the east metro area.
Participation in the VCET will benefit the Lino Lakes Police Department by providing
experience and training for officers in areas such as warrants, wire taps, surveillance,
narcotics, intelligence gathering and processing, and apprehending gang members /
violent offenders committing crime in Lino Lakes and Anoka County. Assigning an
officer to the VCET is reflective of the Lino Lakes Police Department's philosophy of
proactive policing. Defining, identifying and responding to the issue of gang, drug and
violent crime before it becomes a problem will assist us in our mission of providing a
safe community for the residents in a changing and growing community.
OPTIONS
1. Adopt Resolution No. 10 -43, Assigning a police officer to the Ramsey County
Violent Crime Enforcement Team.
2. Return the Resolution to staff for further information.
RECOMMENDATION
Option No.1
Council Member introduced the following resolution and moved its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 10 -43
Approval for the assigning of a police officer to the Ramsey County Violent
Crime Enforcement Team
WHEREAS, The Ramsey County Violent Crime Enforcement Team (VCET) was
established to coordinate efforts to investigate, apprehend and prosecute
those individuals engaged in violent crimes. The criminals involved in
these crimes often have connections to drugs, gangs and weapons; and
WHEREAS, Participation in the VCET will benefit the Lino Lakes Police Department by
providing experience and training for officers in areas such as warrants,
wire taps, surveillance, narcotics, intelligence gathering and processing,
and apprehending gang members / violent offenders committing crime in
Lino Lakes and Anoka County; and
WHEREAS, Assigning an officer to the VCET is reflective of the Lino Lakes Police
Department's philosophy of proactive policing. Defining, identifying and
responding to the issue of gang, drug and violent crime before it becomes
a problem will assist us in our mission of providing a safe community for
the residents in a changing and growing community; and
NOW, THEREFORE, BE IT RESOLVED, the Lino Lakes City Council members, do
hereby approve assigning a police officer to the Ramsey County Violent Crime
Enforcement Team.
Jeff Reinert, Mayor
Julie Bartell, City Clerk
Adopted by the Lino Lakes City Council this 10th day of May, 2010.
The motion for the adoption of the foregoing resolution was duly seconded by Council
Member and upon vote being taken thereon, the following voted in favor
thereof:
The following voted against same:
Whereupon said resolution was declared duly passed and adopted.
•
•
STAFF ORIGINATOR:
CITY COUNCIL
MEETING DATE:
TOPIC:
AGENDA ITEM 6A
Michael Grochala
May 10, 2010
Second Reading: Ordinance 06 -10 Vacating a
Drainage and Utility Easement, (1612 Birch
Street)
ACTION REQUIRED: 4/5 Vote
BACKGROUND:
In 2008 the City approved a minor subdivision for the property owner of 1612
Birch Street. In accordance with the City's Subdivision Ordinance a drainage
and utility easement was obtained from the property owner as a condition of the
approval.
ANALYSIS
The minor subdivision was never filed with Anoka County and the property owner
is no longer pursuing subdivision of the parcel.
As such the drainage and utility easement is no longer needed for public
purposes.
A public hearing was held for this item at the Council Meeting on April 12th. The
First Reading of Ordinance No. 06 -10 was approved by council on April 26,
2010.
RECOMMENDATION
Staff is recommending approval of Ordinance 06 -10 Vacating the Drainage and
Utility Easements.
ATTACHMENTS
1. Ordinance No. 06 -10
• 2. Site Map
1st Reading:
Publication:
2nd Reading:
Effective:
Council Member
ordinance:
moved for adoption of the following
CITY OF LINO LAKES
ORDINANCE NO. 06 -10
ORDINANCE VACATING DRAINAGE AND UTILITY EASEMENT
(1612 Birch Street)
The City Council of Lino Lakes Ordains:
Section 1. Preamble
WHEREAS, the City Council of Lino Lakes has determined to vacate the
drainage and utility easements, in their entirety, on property legally described as:
The West 494.50 feet of the Northwest Quarter of the Southwest Quarter
of Section 26, Township 31, Range 22, Anoka County, Minnesota, except
the west 24.75 feet thereof and except road.
WHEREAS, a public hearing was held on April 12, 2010 before the City
Council in the City Hall Council Chambers after due published and posted notice
had been given and a reasonable attempt was made to give personal notice to
all affected property owners, and all persons interested were given an
opportunity to be heard; and
WHEREAS, it appears to be in the best interest of the City to vacate such
drainage and utility easement; and
WHEREAS, four - fifths of all members of the City Council concur in this
ordinance.
Section 2. The drainage and utility easement described as follows is hereby
vacated:
All that part of the drainage and utility easement lying over, under, and
across the north 10.00 feet , the south 10.00 feet, the west 5.00 feet, and the
east 5.00 feet of that part of the Northwest Quarter of the Southwest Quarter of
Section 26, Township 31, Range 22, Anoka County, Minnesota described as
follows:
Commencing at the intersection of the south line of said Northwest
Quarter of the Southwest Quarter with the east line of the west 24.75 feet
of said Northwest Quarter of the Southwest Quarter; thence northerly and
parallel to the west line of said Northwest Quarter of the Southwest
Quarter 879.85 feet to the point of beginning of the parcel to be described;
—56—
thence easterly and parallel with the north line of said Northwest Quarter
of the Southwest Quarter 295.31 feet; thence northerly parallel with the
west line of said Northwest Quarter of the Southwest Quarter 367.89 feet
to the southerly line of Parcel 57, ANOKA COUNTY HIGHWAY RIGHT -
OF -WAY PLAT NO. 11; thence westerly along said southerly line of
Parcel 57 to the east line of said west 24.75 feet of the Northwest Quarter
of the Southwest Quarter; thence southerly along said line 368.77 feet to
the point of beginning.
Passed by the Lino Lakes City Council this 10th day of May, 2010.
Jeff Reinert, Mayor
Attest: Julianne Bartell, City Clerk
Adopted by the Lino Lakes City Council this 10th day of May, 2010.
The motion for the adoption of the foregoing ordinance was duly seconded by
Council Member and upon a vote being taken thereon, the following
voted in favor thereof:
The following voted against same:
Whereupon said ordinance was declared duly passed and adopted.
•
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