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11 OFFICIAL STATEMENT I N O I N r• N r I A I Q I Q �I� I n Q m ID I -- 1 � I I Q O I Q 11 I I� u)Q m ; 47 m 1 ID I m Q t` Q- - O I 1 Q I � O I I ID O 1 I m 11 I N m m "I Q � c I O I ID N N C7 N m I IA I Q I m 0 I m l f'f If1 I m II I O - I - I - - I - I - I - I I ^ I O> w c.m'o m r` m m I O I Q n v CI m N I N I T I N ID 1 m l OI I O I I T 1 fT m l'7 ID f`7 OI Q 1 I� I N O Q O Q fT I f1 I I In I ID I O C I Q 1 11 $470 I O ID C7 I I ID O ID N I ID I v l �"� I Q I Q 1� 1 II - 1 - I - I - 1 I I I , CITY OF ST. ANTHONY, MINNESOTA N E I I I I 1 I I I 1 7 I m+~� C ° L 1 I ID N ID 1 O O O Q GENERAL OBLIGATION IMPROVEMENT BONDS SERIES 1993A O ID IO Q N ID ID I IA I 1� r• O ID ID m I m l ID I O I'O I ID ID I 1 O II ID Q I In I r` 0 0 -- m � P7 I fA I u7 I Lo O m - I ID fD N Q N fT f7 I fT I f0 I IO I 17 O I co II 1 a, IA N In of O N I m I m m r� Q C7 Q 1 r` I m I Q I Q I O N I m 11 1 m fD t7 I O I Q .^') N N c7 1 m I I N I N I Q I In 11 I' Introductory Statement I I 1 1 I I I I I 11 This Official Statement contains certain information relating to the City of St. Anthony, I I I I ^ I I I I II m ' ° I ° Minnesota (the "City") and its issuance of $470,000 General Obligation Improvement Bonds f7 I O I O I ID m I t0 11 I I , t Q Q I N ' ° ° N , - , m ' ° I ° I Q m - ' ° " Series 1993A (the "Bonds" or the "Issue"). m U fn - - - - I - I - - - - , - I - I , I - - - +-' Ln I M I O I O 1 ID N I O 11 , 1!7 I I'1 O I O 1 . N O I C, I Q 0 7 N , to 1 N I I v I 1 I m I fA II W L LL W 1 I I 1 I I I - I - II U LL I I I I I I I I 1 I I I I I I I �A II Authority and Purpose I ^ I O ID N ID I Q m m I - II The Bonds are being issued pursuant to Minnesota Statutes Chapters 429 and 475. The C1 010 N IA I Q I f7 I O I 1 of Q I tD II 1 - - ' - ' - ' - ' - ' - - - " proceeds of the Bonds will be used for various street and utility improvements within the City. w+-_ ID r• N 1 O 1 I I r� I r m T I f0 11 Gl > C m � 1� I C I Q I Q I O I O � 1� 1 Q II O L 7 Q I 1f1 I 1 C7 I N I N ...� I N II The composition of this Issue is: d LL v - II I I I 1 1 I W II I I I I I I II Project Costs* $420,581 10% Contingency 42,369 N m ° Q Q I Allowance for Discount Bidding 7,050 Q m Q I ID I Co I m I m I m m I II N c t• 10 , Q 1 m 1 m I I ID ID I II m 7 En - - - 1 - I I - I ` I _ 2 m l Q Q N I (V A I ° Total Costs/Bond Issue $470,000 Z Q N LL N I I I I I u'Y I ID II J I I I I II Q I I I I I I 11 m Based on actual construction bids and includes engineering, administrative and issuance costs. o Z ^ I I I I I I I I II N M N r I m I Q ID ti r� ID I O I N 1 O t o I m N I O 11 LL � Q l7 m 1_>ID m IA I O I fT 1 O I O 1 O I N 11 Q r ° N ° ' ' ' Security and Financing - - - - - L C N f)K7 Q O O I m I In m N N 1� I ID I OI I ID I 1D 1 ID O I II d 7 m In O O 1 P7 1 m Q ID c7 t'1 I ID I N I Q I Q I fT I c-) II U) C LL 10 I fT I Q O I'7 I fT I I 1 1 IO 1 m 11 W fU - I - I - I - I I I I I W II ' The Bonds will be general obligations of the City for which the City pledges its full faith and Z fT N I I I 1 I I I I II credit and power to levy direct general ad valorem taxes. In addition to its general obligation pledge, the City also pledges special assessments against benefited property. Y ~ ¢ Z (n w Special assessments totaling $147,203 are expected to be filed on or before October 1, 1993 ~ _ =W for first collection in 1994. All assessments will be spread over 15 years in equal annual Z ~ LL U Q w Z <° principal installments with interest charged on the unpaid balance at a rate of approximately ~ w ~ LU m a Z W rC O L 1.5% over the rate received on the Bonds, in accordance with the policy of the City. Ad w W =w N y valorem tax levies and special assessments, if collected in full, will be sufficient to pay 105% of ' m W W C In ° ` the August 1 interest due in the year of collection and the February 1 principal and interest due uzo w Z " ' LL y the following year. W In m O > J W L G1 W J= In V In C 4~ N d t L a) C L N D N In a-+ 7 = m m Ix U C d'D O O C N ° = o E Future Financing LL c > ~ = L N v co o m d L w y Z In > ) C L C Q 7 O w L W N N > N N L c 01D c The City may issue approximately $2,000,000 of general obligation tax increment bonds within c E 41 a.l C In 7 �. In Ol C fU C ~ 1.- ~ ` m ` ° ° m w Q ° the next 12 months and undertake any appropriate cost-effective refundings. +� E N c L GI d E U Cn U L (A(n N LL V X >. L In a _ - o o D c c W M o d m a) U L S L >. Io U c a`i .� m E m L al N W Q w S E O 7 d d.� o c N d C O L N ^ L m D w 1Z1 O fn C c L LL > > y Y d Q V L H- L U m Cr L N m L O d Gl to O L y� c X C U w +J '� > fD W d a a ,n >w c m c� fn 3 m > w w d c rn o w 0 v ° Litigation o — a> o fn m 1.L — m aEi d D a c WE — o 'n f=o m m U fn m m N 01 (U m a� m V V S > (n m W m a.l m fy 7 N L-r C L m fn L yJ � L � L co Co o d U f11 d L o y O d"- Y d L° �! O N L 'y U Lm O n L m m ° m = r ~ _ L _ Q� N > L ° „ n ' ,� The City is not aware of any threatened or pending litigation affecting the validity of the Bonds 0 -9 07 d Q 1-C-1 ...1 d N 7 7 m a-+ .-E-i o N > y L Q fD D d � UfnJ ULLO Ix WLLO O WO ta0 % fn ? Is o W LL LL or the City's ability to meet its financial obligations.