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City Council Regular Meeting Minutes April 23, 2002 • Page 12 • Relocate SAV 1 to Highway 88: Relocate the city-owned business to a place where higher traffic flow would generate greater revenues, which would be available for inter-fund transfers. Councilmember Sparks requested a list of what each one of the General Fund options could actually contribute, in order to make educated decisions regarding them. Prosser stated that they would bring those rough estimates to the August meeting. City of St. Anthony Key Financial Strategies Capital Equipment: 2003 o Revenues: $9,230,000. o Expenditures: $9,715,350. o Gap: ($485,350). 2004 o Revenues: $352,000. o Expenditures: $543,250. o Gap: ($191,250). 2005 o Revenues: $320,000. o Expenditures: $682,750. • o Gap: ($362,750). 2006 o Revenues: $315,000. o Expenditures: $489,350. o Gap: ($174,350). Councilmember Sparks asked about the modest gap in 2003. She stated that it would only be a modest gap if a referendum were approved, as the City does not have $9,000,000 to spend on capital equipments. Mornson stated that Councilmember Sparks was correct, and that several things need to take place before they would approve the needs. City of St. Anthony Key Financial Strategies Capital Equipment: Options: • Revenue Bonds: Issued to fund capital projects; supported by city revenues. • Equipment Notes: Issued to fund certain capital purchases. • G.O Bonds: Voter approved bonds used to support capital improvements. • Lease Purchase Bonds: HRA issued bonds paid from city revenues. • Developer Contributions: Contributions support various improvements. • Relocate SAV 1 to Highway 88: Relocate city business to an area of higher traffic flow, which would generate greater revenues to be available for capital purchases. • City of St. Anthony Key Financial Strategies "Big Ticket"Capital Items: Option: o Replace Public Works building. Recommendation: