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<br />  <br /> <br />Presale Report <br />City of St. Anthony, Minnesota <br />June 10, 2025 <br />Page 1 <br /> <br /> <br />Proposed Issue: <br />$1,725,000 General Obligation Improvement Bonds, Series 2025A <br />Purposes: <br />The proposed issue includes financing for the 2025 road and utility improvement projects. <br /> $630,000 Improvement Portion. This portion of the Bonds is being issued for a <br />15-year period. The City is utilizing $522,541 in utility funds (sewer/water and <br />stormwater) and $122,270 in infrastructure funds up front to pay for portions of the <br />project in order to reduce the amount of debt needed to finance the project and <br />reduce the need for a higher on-going levy. Debt service will be paid from special <br />assessments and taxes. <br />The City intends to levy a total of $185,891 in special assessments to benefitting <br />property owners and anticipates receiving no prepaid assessments. The special <br />assessments will be collected in years 2026 to 2040 at a rate of 2% over the True <br />Interest Costs of the Bonds. Annual assessments will be paid on an equal principal <br />basis. <br /> $1,095,000 Mill and Overlay Portion. This portion of the Bonds is being issued for <br />a 10-year period. The City is utilizing $525,000 in existing TIF funds from TIF District <br />3-5 to pay for the portion of 39th Avenue improvements that run through the TIF <br />District. The size of bonds has been reduced to account for these funds. Debt <br />service will be paid from special assessments and taxes. <br />The City intends to levy a total of $447,513 in special assessments to benefitting <br />property owners, of which approximately $223,757 (50%) is anticipated to be <br />collected in pre-paid assessment. The Bonds have been reduced by this amount <br />accordingly. The remaining $223,756 of special assessments will be collected in <br />years 2026 to 2035 at a rate of 2% over the True Interest Costs of the Bonds. Annual <br />assessments will be paid on an equal principal basis. <br />Authority: <br />The Bonds are being issued pursuant to Minnesota Statutes, Chapters: <br /> 429 <br /> 475 <br />Because the City is assessing at least 20% of the project costs, the Bonds can be a general <br />obligation without a referendum and will not count against the City’s debt limit. <br />The Bonds will be general obligations of the City for which its full faith, credit and taxing <br />powers are pledged. <br />EXECUTIVE SUMMARY OF PROPOSED DEBT