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I CITY OF ST. ANTHONY VILLAGE, MINNESOTA HOUSING AND REDEVELOPMENT AGENCY PRE-SALE REPORT IVMAY 13, 2003 Proposed Issue: Public Facilities Lease Revenue Bonds Purpose: Finance construction of Public Works and Fire Station facilities Description: St.Anthony Village is considering the funding for construction of a Public Works and Fire Station. No decision has been made to date on the certainty of funding this project or the amount. The City has requested that this item be placed on an agenda to discuss potential funding for the project.Lease Revenue Bonds are a permitted funding source for this type of project. This funding permits the City HRA to issue bonds to construct public facilities. The facilities are then leased to the City. At the end of the term of the lease the property can be sold to the City for a nominal sum. These bonds do not require voter approval. Term/Call Feature: These bonds would be issued with a 20 year term, callable in 2013 for bonds maturing in 2014 and thereafter. Funding Sources: These bonds would be supported by a debt service tax levied against the tax capacity of property within the City. Discussion Issues: The basic issues to be discussed include whether the project should be funded, the amount of funding to be approved for the project and the amount of bonds to be issued.. Schedule: Pre-Sale Review: May 13, 2003 Distribute Official Statement:May May 15,2003 Conference with Rating Agency: Week of May 19, 2003 Bond Sale: May 28 or 29, 2003 Estimated Closing Date: TBD Attachments: Prepared by Ehlers & Associates, Inc.