CC PACKET 03101998 - Laserfiche WebLink

Home Browse Search

Investment firms are required to repurchase any and all securities which do not comply with Minnesota State Statutes, Sections 118.01, 471.56 and 475.66, or the City's investment policy with regard to high risk, at full face value of the purchase price. Current Value of City Investments at December 31, 1997 Total Booked at Cost $7,562,810 Change in Valuation 57,608 Current Valuation $7,620,418" The amount listed is the value of the assets as of December 31, 1997. The increase in valuation of 0.76% represents a capital gain that would occur if the investments were liquidated on December 31, 1997. It is a policy of the City of St. Anthony to hold all its investments till maturity unless capital gains can be realized by the sale of the investment. GENERAL INFORMATION CONCERNING THE CITY The City of St. Anthony is located in Hennepin and Ramsey Counties, immediately north of the City of Minneapolis. The City encompasses an area of 1,600 acres or approximately 3 square miles. Historical population figures for the City are shown below. Percent U.S. Census Population Increase/(Decrease) 1970 9,239 82%(a) 1980 7,981 (14%) 1990 7,727 (3%) 1996(b) 7,939 3% (a) Represents increase in population from 1960 to 1970. (b) Metropolitan Council Estimate. Employment The City is centrally located within the Minneapolis/St. Paul metropolitan area which provides City residents with easy access to employment opportunities throughout the metropolitan area. Some of the larger employers within the City limits are: Approximate Number Employer Product/Service of Employees St. Anthony Health Center 150-Bed Nursing Home 250 Independent School District 282 Education 187 Apache Plaza Mall Shopping Center 115 Herbergers Merchandise Sales 85 Source: 1998 survey of employers. St. Anthony's industrial park has approximately 25 small or medium-sized businesses, each with employment ranging up to 50. - 12 -