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[Capital Improvements <br />Street Construction/Reconstruction <br />Goal is to keep debt levy at existing level <br />(approximately $1.3 million) <br />Continue 30 year plan <br />Started in 1993 <br />Will be completed with all roads in 2022 <br />Able to maintain the annual appropriation <br />Existing Debt Analysis <br />Currently have cash available in bond <br />fund to payoff bonds <br />In 2007 payoff: <br />■ 1997A Road Reconstruction Bond <br />o Portions of 351' Avenue and Roosevelt Street <br />o $350„000 balance <br />■ Current callable rates of 5% to 5.3% (2008-2013) <br />o Can reduce levy by $54,000 in 2008 <br />Cel <br />• <br />