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Section 5 <br /> SUMMARY <br /> Summary of Factors for Decision-Making <br /> The Community has the bonding capacity to issue the debt for acquiring the property. <br /> There are several factors which will help determine the Community's course of action for <br /> financing the property acquisition: <br /> 1. The City does not have the capacity to issue the total acquisition cost at any of the levels. <br /> 2. The District does have the capacity to issue the debt and still have room to issue more debt in <br /> the future, if the need arises. <br /> 3. Based on the current information, neither the City nor the District meets any of the exception <br /> criteria. Therefore, a referendum would be required. <br /> 4. If the District issues the debt, it could apply for the Minnesota Credit Enhancement Program. <br /> The Minnesota Credit Enhancement Program created by Minnesota Statute 126C.55 allows <br /> school districts to obtain a better credit rating on bonds issued. The better interest rate means <br /> the Community, as a whole, would realize a better interest rate on the bonds. <br /> 5. The Salvation Army property is currently exempt from the tax base. The final disposition of the <br /> property and its tax status could have an effect on the full impact to the Community. <br /> 2 SPRINGSTED \stanthoTtxi Page 5-1 <br />