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OW <br />APPENDIX B <br />Pre -Sale Schedule dated November 8, 2011 <br />5- Year City Capital Improvement 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 completion of the 5 -Year Capital Improvement Plan. <br />• City Council conducts a Public Hearing on issuance of Bonds and Capital Improvement Plan. <br />• City Council approves CIP Bonds and Capital Improvement Plan by at least a 3/5ths vote of the governing <br />body membership . <br />The table below lists the steps in the issuing process: <br />10/25/2011 <br />City Council adopts Resolution calling for Public Hearing on the Capital Improvement Plan and the <br />Annual Levy Limit <br />issuance of Capital Improvement Plan Bonds to refund the 2003 HRA Lease Revenue Bonds. <br />10/14/2011 <br />Close date to get Notice of Public Hearing on issuance of Bonds and on Capital Improvement Plan to <br />official newspaper for publication. <br />10/20/2011 <br />Publish Notice of Public Hearing on issuance of CIP Bonds and on Capital Improvement Plat <br />(publication no more than 28 days and no less than 14 days prior to hearing date). Additionally, notice <br />may be posted on the City's official web site, if any (Ehlers and Dorsey to coordinate). <br />Multiply by 3% <br />0.03Multiply <br />11/08/2011 <br />City Council holds Public Hearing at 8:00 p.m. on CIP Bonds and on Capital Improvement Plan and <br />adopts Resolution giving preliminary approval for their issuance and approving Capital Improvement <br />Plan by at least a 3/5ths vote of the governing body membership. <br />12/08/2011 <br />Reverse referendum period ends to issue CIP Bonds (within 30 days of the public hearing). <br />Statutory Levy Limit <br />1,244,455 <br />Net Debt Limit <br />Annual Levy Limit <br />Assessor's Taxable Market Value <br />777,784,100 <br />1Assessors Taxable Market Value <br />777,784,100 <br />Multiply by 3% <br />0.03Multiply <br />by .16% <br />0.0016 <br />Statutory Debt Limit <br />23,333,523 <br />Statutory Levy Limit <br />1,244,455 <br />Less: Debt Paid Solely from Taxes <br />(7,195,000) <br />Less: Annual Levy under CIP <br />(428,488) <br />Unused Debt Limit <br />16,138,523 <br />Unused Levy Limit <br />815,967 <br />City of St. Anthony 2011-2015 Capital Improvement Plan Page 9 <br />