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ROBERT J.CHR ISTIANSON THOMASL.MMER F A E G R E Sc BENSON J.B,FAEG RETE ETIEEOI <br /> GEORGE D.MCCLINTOCK JOSEPH M.PRICE <br /> NAT A,DRAKE W,SMITH SHARPE,JR, <br /> DONALD <br /> DONALD L.ROBERTSON PHILIP S.CARON JOHN C.BENSON <br /> WRIGHT W. BROOKS JOHN F.BEUK EMAPAUL CHRISTOPHERSON <br /> RODGER L.NOROBYE WALTER J.DUFFY,JR, 1300 NORTHWESTERN BANK BUILDING JOHN B.FAEGRE,JR. <br /> GEORGE E.HARDING JAMES P.STEPHENSON COUNSEL .I <br /> JOHN S.HOLTEN F.REID CARRON <br /> R.W.OELKENINGHAM JOHNI KDKELLY <br /> .STEFFEN MINNEAPOLIS, MINNESOTA 55402 <br /> ERWIN MITCH GOLDSTEIN CHARLES E.BOHLEN,JR. <br /> JAMES A.HALLS JOHN B,GORDON <br /> GERALD T.FLOM THOMAS M.MAYERLE <br /> CHARLES L.HORN THOMAS G.MORGAN <br /> JACK D.GAGE JOHN D.SHIVELY 612/371-5300 <br /> PETER W.ANSON EDWARD G.HEILMAN <br /> JAMES FITZMAURICE JOHN H.HINDERAKER <br /> GORDON G.BUSDICKER ROBERT L.SCHN ELL,JR. <br /> JOHN D.FRENCH RICHARD A.N ELSON <br /> RONALD B.HEMSTAD BRIAN B.O'NEILL <br /> NORMAN R.CARPENTER WILLIAM R.BUSCH,JR. <br /> LAWRENCE C.BROWN BONNIE M.FLEMING <br /> MARTIN N.BURKE HENRY F.FRISCH <br /> JOHN E.HARRIS LOREN F.HART <br /> PAUL T.BIRKELAND RANDY L.MILLER <br /> DAVID M.BEADIE OP A.ROCKWELL <br /> RICHARD C.SOSBY,J R PATRICK B.BAUER <br /> THOMAS M.CROSBY,JR, JACK M. FRIBLEY <br /> JAMES T,HALE JOHN S.JAGIELA <br /> LUDWIG B.GAR. NER,JR. DAVID B,DEAN October 31, .1979 <br /> JAMES LOKEN JOHN P.BORGER <br /> L.DO <br /> ARTHUR HEIDI M.HOARD <br /> DUANE W.. K O KE DAVID PEA RS ON <br /> GEORGE W,.FLYNNFNLYJAMES G G.RAY <br /> JAMES A,V. <br /> FORCI M RICHARD A.S. <br /> ANG <br /> JAMELDE <br /> ES <br /> V.AMPLE R MARGARET N ANGLE <br /> JAMES.BEIHO FE STEVEN R.ANDERSON <br /> DALE E.R. <br /> KI CHAK JAY D.ES S.FE NSEN <br /> PETER R.K LUM CHARLES S.LERRELL <br /> GALE R.MELF. <br /> BURT DAVID F. <br /> MILLER <br /> BRUCE F,BURTON MARK F, ENG EBRETSON <br /> JERRY W.SNIDER JAMES A. <br /> H ENDRIK De JONG RICHARD T.T, THO OM SON <br /> STEPHEN ROSHOLT <br /> FRANK BUTLER <br /> GORDON <br /> BRUCE A. RMAN <br /> H.HA <br /> MICHAEL H. RPER,JR. <br /> Mr. Duane McCarty, Mayor <br /> Members of the City Council <br /> City of Mounds View <br /> City Hall <br /> 2401 Highway 10 <br /> St. Paul, MN 55112 <br /> Re: Proposed Home Rule Charter <br /> Dear Sirs: <br /> At your request we have examined the copy of the <br /> proposed Home Rule Charter, dated October 11, 1979, to <br /> consider the effect which the Charter, if adopted, would <br /> have on future bond financing by the City. <br /> In general, the Charter provides more complex <br /> procedures than the procedures provided by Minnesota law for <br /> statutory cities. This will inevitably cause some increase <br /> in the time and effort and therefore the expense involved in <br /> following and establishing compliance with the procedures to <br /> the satisfaction of bond counsel. In addition, until Minnesota <br /> municipal bond dealers become familiar with the City' s new <br /> procedures, some educational effort will be required to <br /> fully explain these procedures to the satisfaction of bond <br /> dealers so that they will not hesitate to bid on the City' s <br /> bonds under the new Charter. <br /> However, subject to certain specific problems <br /> mentioned below, we think in most instances the City will be <br /> able to obtain financing and sell its bonds on the market <br /> and the City' s bond counsel will be able to provide the <br /> necessary approving legal opinion under the procedures of <br /> the new Charter if it is approved by the voters. In particular, <br /> the procedures required for public improvements and special <br /> assessments under Chapter 8 of the Charter are not much <br /> different from the procedures required by South Dakota state <br /> law for special assessment bonds except for the somewhat <br /> longer periods of time established by the Charter. <br />