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29 <br />APPENDIX C <br />Pre -Sale Schedule dated March 23, 2010 <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 />• City Council conducts a Public Hearing on issuance of Bonds and Street Reconstruction Plan. <br />• City Council approves Bonds and Street Reconstruction Plan by unanimous vote. <br />The table below lists the steps in the issuing process: <br />Feb 23, 2010 <br />City Council adopts Resolution calling for Public Hearing on issuance of Bonds and on Street <br />Reconstruction Plan. <br />March 5, 2010 <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 10, 2010 <br />Publish Notice of Public Hearing on issuance of Bonds and on Street Reconstruction Plan (publication no <br />more than 28 days and no less than 10 days prior to hearing date). <br />March 23, 2010 <br />City Council holds Public Hearing on Bonds and on Sheet Reconstruction Plan and adopts Resolution <br />giving preliminary approval for their issuance and approving Street Reconstruction Plan by unanimous <br />vote. <br />March 23, 2010 <br />City Council provides for sale of Bonds. <br />April 23, 2010 <br />Reverse referendum period ends (within 30 days of the public hearing). <br />April 27, 2010 <br />City Council accepts offer for Bonds and adopts Resolution -Approving sale of Bonds. <br />May 2010 <br />Tentative closing/receipt of funds. <br />Net Debt <br />Assessor's Taxable Market Value 829,050,000 <br />Multiply by 3% 0.03 <br />Statutory debt Limit 16,581,000 <br />Less: Debt Paid Solely From Taxes (1,910,000) <br />Unused Debt Limit 14,671,000 <br />Ehlers & Associates, Inc. Page ll <br />