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45 <br />APPENDIX C <br />Pre -Sale Schedule dated March 11, 2008 <br />5 -Year City Street Reconstruction Plan Bond Issuance <br />City of St. Anthony, Minnesota <br />The City Council must take the following actions before Bonds can be issued: <br />• City Council directs preparation of a 5 -Year Street Reconstruction Plan. <br />f City Council conducts a Public Hem-ing on issuance of Bonds and Street Reconstruction Plan. <br />• City Council approves Bonds and Street Reconstruction Plan by unanimous vote. <br />'Fite table below lists the steps in the issuing process: <br />March 11, 2008 <br />City Council adopts Resolution calling for Public Hearing on issuance of Bonds and on Street <br />Reconstruction Plan. <br />March 20, 2008 <br />Close date to get Notice of Public Hearing on issuance of Bonds and on Street Reconstruction Plan to <br />official newspaper for publication. <br />March 26, 2008 <br />Publish Notice of Public Hearing on issuance of Bonds and on Street Reconstruction Plan (publication no <br />viore than 28 days and no less than 10 days prior to hearing <br />April 8, 2008 <br />_(late)_ <br />City Council holds Public Hearing on Bonds and on Street Reconstruction Plan and adopts Resolution <br />giving preliminary approval for their issuance and approving Street Reconstruction Plan by unanimous <br />vote. <br />_ <br />April 8, 2008 <br />City Council provides for sale of Bonds. <br />May 8, 2008 <br />_ <br />Reverse referendum period ends (within 30 days of the public Bearing) <br />May 13, 2008 <br />City Council accepts offer for Bonds and adopts Resolution -Approving sale of Bonds. <br />June 2008 <br />Tentative closing/receipt of funds. <br />Net Debt Limit <br />Assessor's Taxable Market Value 893,542,800 <br />Multiply by 2% 0.02 <br />Statutory Debt Limit 17,870,856 <br />Less: Debt Paid Solely from Taxes (4,755,000) <br />Unused Debt Limit 13,115,856 <br />Ehlers & Associates, Inc. Page 10 <br />