HomeMy WebLinkAboutCC PACKET 03101998 Meeting Sheet
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Folder: CC PACKETS 1994-1998
Document: CC PACKET 03101998
_H.R. A. IMMEIDATELY FOLLOWING REGULAR
COUNCIL MEETING
CITY OF ST. ANTHONY
CITY COUNCIL REGULAR MEETING AGENDA
MARCH 10, 1998
7:00 P.M.
Council Chambers
I. CALL TO ORDER/PLEDGE OF ALLEGIANCE.
II. ROLL CALL.
III. APPROVAL OF MARCH 10, 1998 REGULAR COUNCIL MEETING
AGENDA.
IV. APPROVAL OF FEBRUARY 24, 1998 REGULAR COUNCIL MEETING
MINUTES.
V. ,LICENSES/PERMITS/PETITIONS.
VI. PRESENTATION OF CLAIMS.
A. Grant Application
1. WSB &Associates, Inc. - $1, 043.75.
B. Auditor
1. Stuart Bonniwell - $5,165.00.
C. Legal—Prosecutions:
1. Dorsey & Whitney LLP - $1,415.10
2. Foster, Wentzell, Hedback&Brever- $3,000.00
D. Verified.
VII. REPORTS.
A. Carrie Luther, Hennepin Assessor.
B. Bill Weber, BRW, update on Comp Plan.
C. Discuss proposal from Business Records, re: information technology.
D. Councilmembers.
E. Mayor.
F. City Manager.
VIII. PUBLIC HEARINGS—None
IX. NEW BUSINESS.
A. Award sale of bonds for 1998 Street Improvements.
B. Polling location change.
C. Appoint Prosecuting Attorney
D. Approve computer proposal.
E. Consider approval of the fire.truck
X. UNFINISHED BUSINESS.
A. Ordinance 1998-005, re: water rates (3`d reading)
XI. ADJOURNMENT.
1 CITY OF ST. ANTHONY
2
3 CITY COUNCIL REGULAR MEETING MINUTES
4 FEBRUARY 24, 1998
5
6
7
8 I. CALL TO ORDER/ROLL CALL.
9 The meeting was called to order at 7:02 P.M. followed by the Pledge of Allegiance led by Mayor
10 Ranallo.
11
12 II. ROLL CALL.
13 Councilmembers Present: Ranallo, Marks, Faust, Cavanaugh, and Thuesen.
14 Also Present: City Manager Mike Mornson.
15 Councilmembers Absent: None.
16
17 III. APPROVAL OF FEBRUARY 24, 1998 REGULAR COUNCIL MEETING AGENDA.
18 Motion by Marks, second by Faust to approve the February 24, 1998 Regular Council Meeting
19 Agenda with the following change:
20
21 Under VII. Reports add, B.1. Legislative Update
22
23 Motion carried unanimously.
24
25 IV. APPROVAL OF FEBRUARY 10, 1998 REGULAR COUNCIL MEETING MINUTES.
26 Motion by Marks, second by Thuesen to approve the February 10, 1998 Regular Council
27 Meeting Minutes as presented.
28
29 Voting on the motion: Ranallo, Marks, Cavanaugh, Thuesen voted aye. Faust abstained.
30
31 Motion carried.
32
33 V. LICENSES/PERMITS/PETITIONS.
34 Motion by Marks, second by Faust to approve the following licenses:
35
36 General Contractors License:
37 Sign Solutions, Robbinsdale, MN/working at 2400 - 37ffi Avenue NE
38 Arbor/Design Tree Service/Brooklyn Center, MN/no job yet
39 Heating Contractors License:
40 Apollo Heating& Vent Corp., Oakdale, MN/working at 2911 Rankin Road
41 American Burner Service Inc., St. Paul, MN/working at 3637 Roosevelt Street
42
43 Motion carried unanimously.
44
45
46
City Council Regular Meeting Minutes
February 24, 1998
Page 2
1
2 Motion by Thuesen, second by Faust to approve the following permit:
3
4 Temporary.3.2 Beer Park Permit:
5 Central Park, June 6, 1998/Robertson Family Picnic
6
7 Voting on the motion: Ranallo, Faust, Cavanaugh, Thuesen voted aye. Marks voted naye.
8
9
10 Motion carried.
11
12 VI. PRESENTATION OF CLAIMS.
13 Motion by Marks,.second by Thuesen to approve the following claims:
14
15 A. Street Improvement Projects:
16 1. Rieke Carroll Muller Associates:
17 a. In the amount of$6,318.61 for professional services rendered from
18 December 28, 1997 to January 31, 1998 for 1998 Street Improvements
19 Design/Bidding.
20 2. In the amount of$663.77 for professional services rendered from
21 December 28, 1997 to January 31, 1998 for 33`d Avenue design.-
22 B. Water Management:
23 1. WSB & Associates, Inc.:
24 1. In the amount of$100.50 for professional services rendered January 1
25 through January 31, 1998 for Water Resources Management.Plan.
26 2. In the amount of$5,944.50 for professional services rendered January 1
27 through January 31, 1998 for Storm Drainage Task Force.
28 '3. In the amount of$674.50 for professional services rendered January 1
29 through January 31, 1998 for Flood Problem Area Analysis.
30 3. Legal - Prosecutions:
31 1. Foster, Wentzell, Hedback& Brever in the amount of$3,000.00 for legal services
32 rendered the month of February 1998.
33 D. 2 pages of Verified Claims as presented by the Finance Director.
34
35 Motion carried unanimously.
36
37 VII. REPORTS.
38 A. Planniniz Commission- February 17, 1998.
39 1. U.S. West; for 2801 - 37`h Avenue NE, Request for a Conditional Use Permit.
40 Mayor Ranallo reported Planning Commissioner Delmonico was unable to be present this
41 evening to provide a report. Ranallo also noted that there was no one present to represent U.S.
42 West.
43
� 1
City Council Regular Meeting Minutes
February 24, 1998
Page 3
1 Morrison stated that the Planning Commission determined that the proposal meets the three
2 specific requirements of a conditional permit as follows: 1. This use is an allowed conditional
3 use for this zoning district under City Code Section 1160.06, Subd. 2.; 2. The proposed antenna.
4 will not be detrimental to the health, safety, or general welfare of persons residing or working in
5 the vicinity or injurious to property values or improvements to the vicinity.; 3. The proposed
6 antenna is necessary or desirable at the above location to provide a service or a facility which is
7 in the interest of public convenience and will contribute to the general welfare of the
8 neighborhood or community and provide more service to St. Anthony and surrounding
9 communities. Mornson noted that the Council could table this request and refer it back to the
10 Planning Commission as a representative had not been present at either meeting.
11
12 Cavanaugh noted a resident had spoken against the proposal at the Planning Commission
13 meeting.
14
15 Mayor Ranallo asked if the antenna would interfere with other communications.
16
17 Marks stated that U.S. West claims that it will not interfere. He noted it is a low power
18 frequency of only 40 watts.
19
20 Motion by Cavanaugh, second by Marks to table the request for a conditional use permit for U.S.
21 West; for 2801 - 37`h Avenue NE, as a representative had not been present at the Planning
22 Commission or the City Council meeting.
23
24 Motion carried unanimously.
25
26 B. Review Proposal from GE Capital Consulting for Information.
27 Thomas Hielsberg, Director of Enterprise Architecture Practice, GE Capital Consulting (GECC),
28 explained that GECC is a professional technical consulting company and a subsidiary of General
29 Electric. He stated he was present this evening to communicate his company's commitment to
30 the City of St. Anthony. Their goal is to provide a network and technical infrastructure to the
31 City that will improve communication and productivity within the department, employees,
32 businesses and residents. He asked Councilmembers to review the proposal and availed himself
33 to any questions.
34
35 Thuesen asked what was meant by "Develop Future and Transitional Network Infrastructure
36 Models".
37
38 Mr. Hielsberg explained his company would first determine the City's objectives and then
39 determine their current capabilities. Based on this information, they would then provide a design
40 to accomplish the objectives.
41
42 Marks noted the City would need some guidance in terms of use of the computers and
43 networking. He asked if GECC had worked with other cities or units of governments.
City Council Regular Meeting Minutes
February 24, 1998
Page 4
1
2 Mr. Hielsberg stated GECC would talk with other cities and apply that information to the needs
3 of St. Anthony. GECC would like to turn St. Anthony into a good example of what can be done
4 based on the City's objectives.
5
6 Mayor Ranallo asked if GECC had worked with any cities the size of St. Anthony.
7
8 Mr. Hielsberg stated he personally had not but his organization had. He noted the list of
9 references included in the proposal.
10 Cavanaugh asked how much focus was placed on productivity improvement. He also asked if
11 the whole environment was taken into account.
12
13 Mr. Hielsberg noted that increased technology should increase productivity. He stated his
14 organization has the capacity to look at the City as a whole and make recommendations on that
15 - basis.
16
17 Cavanaugh asked if GECC would offer assistance with a web page.
18
19 Mr. Hielsberg stated his company has a whole practice area, which focuses on that technology.
20 A web page can open up the communication between the City and the residents and businesses.
21
22 Marks asked if GECC had partnerships with network providers or software houses.
23
24 Mr. Hielsberg stated GECC is primarily a consulting company. There is a sister company within
25 General Electric that does provide hardware and software. GECC however, as an independent
26 consulting company, is vendor-independent. They strive to determine the right product to
27 provide the solution and their strong partnership with their sister company will not dictate their
28 solution.
29
30 1. Legislative Report.
31 Mayor Ranallo reported that early Friday, February 20, 1998, he, Councilmembers Faust and
32 Cavanaugh; City Manager, a representative of WSB, and Senator Marty testified before the
33 Senate, Environmental and Budget Division at the Legislature. They made a presentation to the
34 Committee and Chairman Senator Morse was there. Later that day,they visited Representative
35 McGuire's office and explained the City's situation. As a result of Faust's contact,they were
36 able to meet with Winter's assistant and explain the City's situation. Morrison has since faxed a
37 letter to Winter's office.
38
39 Mayor Ranallo reported meetings were held today with Representative Kalis who is Chairman of.
40 the Environmental and Natural Resources Bonding Bill which is in the House. The City's
41 position was stated well and was well received. The City's position was heard again at the
42 Senate late last evening. The Senate is looking at approving $34 million. The House is looking
City Council Regular Meeting Minutes
February 24, 1998
Page 5
1 at approving $28 million. If the City of St. Anthony does not receive all of the monies requested,
2 they can request funds again next year and the following year.
3
4 Moms on reported the City did make an impact on February 20 and is continuing to make a lot of
5 progress. The City of St. Anthony has been placed fourth on the DNR Flood Damage
6 Reduction-Bonding list prepared by Kent Lokkesmoe of the Division of Water. Mornson noted a
7 list of representatives in surrounding districts and their telephone numbers and asked that
8 Councilmembers periodically call them to solicit their support.
9
10 Faust noted there is still along way to go. He is however,confident and encouraged and feels
11 that the City has a lot of good people working for them. He noted the City's presentation is
12 honest and forthright and shows that the City is willing to work on the problem yet cannot do it
13 alone.
'14
15 Cavanaugh stated he had been under the impression that the City of St. Anthony was below the
16 DNR threshold for the Senate funding and was not included on the list for House funding.
17
18 Mornson stated the DNR has viewed the City's presentation and stated that they fit very well
19 within DNR guidelines. The City is included on Kent Lokkesmoe's list. Mornson reported the
20 City had been assured by a representative of the House and the Chairman of the Bond that this
21 issue will be resolved by the Conference Committee.
22
23 Cavanaugh asked when this issue would be voted on.
24
25 Mornson stated this issue should be resolved by the end of the Session. He noted the City has
26 received an immense amount of support from the League of Minnesota Cities and the
27 Association of Metropolitan Municipalities.
28
29 The Council noted that Scott Hoelscher, Site Administrator for U.S. West Wireless had arrived at
30 the meeting.
31
32 Motion by Marks, second by Thuesen to remove from the table the request for a conditional use
33 permit for U.S. West, for 2801 - 37`h Avenue NE, for discussion.
34
35 Motion carried unanimously.
36
37 Scott Hoelscher, Site Administrator for U.S. West Wireless, apologized for being late.
38
39 Mayor Ranallo asked if the antenna would cause frequency interference with other
40 communications.
41
City Council Regular Meeting Minutes
February 24, 1998
Page 6
1 Mr.Hoelscher noted that all frequencies are controlled by the Federal Communications
2 Commission. This system operates on an 1800 megahertz high frequency signal and it is
3 impossible for it to interfere with other communications.*
4
5 Cavanaugh asked if U.S. West was planning to install other antennas in the City of St. Anthony.
6
7 Mr. Hoelscher stated this is the only site anticipated to be needed in the City. These antennas
8 generally need to be situated one mile apart within City limits.
9
10 Cavanaugh asked Mr. Hoelscher if he was involved with the site selection and if the antenna
11 could be moved further east in the right-of-way into a more commercial area.
12
13 Mr. Hoelscher stated he was involved in the lease negotiations with the landlord. He noted the
14 proposed location is a heavily industrialized area near the railroad tracks and the property owner
15 Ken Solie is interested in leasing the land. The antenna will be mainly screened with trees and
16 vegetation but will be visible from 37`h Avenue as you drive by the site. He noted the Apache
17 Medical Building had been considered but did not provide the coverage needed.
18
19 Cavanaugh noted the proposed location is a low spot in the area.
20
21 Mr. Hoelscher agreed that this is a low point and explained that PCS antennas do not need to be
22 located at the highest point.
23
24 Motion by Cavanaugh, second by Marks to approve the request for a conditional use permit for
25 U.S. West, for 2801 - 37" Avenue NE, based on the recommendations of the Planning
26 Commission.
27
28 Motion carried unanimously.
29
30 C. Councilmembers.
31 Thuesen reported his attendance last week at a Land Use Planning Workshop. The Workshop
32 dealt with a number of land use issues. He stated the workshop was generally designed for
33 people on the Planning Commission, however, since he has never been a member of the Planning
34 Commission, he found it to be very helpful.
35
36 Thuesen reported his attendance at the recent Parks Task Force meeting. He noted that some of
37 the members still seem to be struggling with some issues and it bogged down the meeting a bit.
38 The Task Force discussed financial strategies and the selection and evaluation of equipment for
39 the tot lot. The Parks Task Force plans to address the Council at their April 28, 1998 meeting.
40
41 Faust stated he believed that the City will prevail and obtain funding for the water issue if they
42 continue and are vigilant with making contacts.
43
City Council Regular Meeting Minutes
February 24, 1998
Page 7
1 Marks reported it was clear at the recent Parks Task Force meeting that there are a number of
2 unresolved issues. He noted the Task Force has not been able to view the parks and that more
3 progress will be made in the spring of the year.
4
5 Marks reported the Sister City Committee continues to work on the visit of the people from
6 Finland. They visitors will participate in a concert at City Hall on the evening of April 24 with a
7 formal City recognition of them at that time. He stated it would be helpful if the entire Council
8 could be in attendance. The Finnish Band will also be giving concerts at the Landmark Center,
9 the high school and Wilshire Park. He noted there are volunteers for the home stays and the
10 dinner on Sunday and asked anyone else who is willing to volunteer to contact City Hall. A
11 schedule will be distributed when completed.
12
13 Cavanaugh reported his attendance at a workshop at the Annual Planning Institute. He stated he
14 had come away with a different sense of the Planning Commission's role than he sometimes
15 senses in the City of St. Anthony. In the models presented, the Planning Commission had more
16 of an activist role in the City.
17. .
18 Cavanaugh asked that the recognition event for volunteers by placed on the next work session
19 agenda.
20
21 Cavanaugh reported that Village Fest is very much behind schedule. Some of the subcommittees
22 are having to go ahead with certain phases of the planning even before an initial planning
23 meeting has been held. He suggested that the City become more involved with the
24 administration portion of Village Fest.
25
26 Mayor Ranallo noted that he had offered Cavanaugh his help but has heard nothing since. He
27 stated that in the past, the Council has called the meeting themselves.
28
29 Cavanaugh stated he will make another round of telephone calls and talk to Bob Foster and Sue
30 Johnson.
31
32 Thuesen reported,he had received a telephone call from a person who had volunteered with the .
33 Castle Heights Park in Columbia Heights. That park was put together solely by volunteers and
34 he stated he was very impressed with the efforts of the volunteers and fund-raising. He will be
35 obtaining a packet of information in regard to the architectural firm of that park and will provide
36 it to the Parks Task Force.
37
38 D. Mayor.
39 Mayor Ranallo suggested City Manager contact Warren Rolek, Superintendent of Schools, to ask
40 is there are any students who are interested in government and would like to volunteer as a clerk
41 in the Council Chambers.
42
43 E. City Manager.
City Council Regular Meeting Minutes
February 24, 1998
Page 8
1 Mornson reported the volunteer dinner will be on the March work session agenda. A list of
2 volunteers will be provided for Council review.
-3
4 Mayor Ranallo asked if City Manager could also provide a list of those who attended the event
5 last year.
6
7 Mornson noted the March work session will be held on March 4, 1998 due to the precinct
8 caucuses. A Joint Meeting will be held with the Planning Commission from 6:00 to 7:00 P.M.
9 WSB will provide a proposal of how the parks and the area of the proposed removal of five
10 homes will look after development of the flood protection. The Parks and Storm Water Task
11 Forces and the Planning Commission have been invited to attend the work session.
12
13 Mornson reported that the Parks Task Force has meetings scheduled for March 16, April 20 and
14 April 27, 1998 and plan to make a presentation to the Council at their April 28, 1998 meeting.
15 One potential issue is the recommendation of a Park Commission, which may include some of
16 the members of the Parks Task Force. The Parks Task Force may not be able to accomplish all
17 the items, which they originally set out to accomplish.
18
19 Mornson reported the Storm Water Task Force has recessed until May 6, 1998. This was done to
20 allow the City time to determine what funding will be available.
21
22 Mornson reported February 18, 1998 was the deadline for the five homeowners to respond to the
23 City and a response has been received from them all. All five are interested in selling their
24 homes but none are interested in the sale price offered by the City. They are asking that the City
25 hire an appraiser and some are asking for two appraisals. Mornson noted the City has received
26 $150,000 from the Minnesota Funding Agency and FEMA has approved $700,000. Both of the
27 agencies feel that an appraisal is a good idea and will pay for one appraisal. FEMA will not pay
28 for the appraisal until after approval of the funds and the City may not be able to be reimbursed
29 through grant money.
30
31 Faust noted that most people typically do want two appraisals. He stated he was not opposed to
32 two appraisals but felt the City should wait until they receive the grant money so that they could
33 recoup the costs.
34
35 Cavanaugh recommended that the appraisals be done now. This is a fundamental part of the
36 process, which will have to be completed whether or not the City obtains any funding. This is a
37 core piece of information that the City needs to keep the process moving.
38
39 Thuesen questioned if one appraisal should be performed now and one after funding becomes
40 available.
41
City Council Regular Meeting Minutes
February 24, 1998
Page 9
1 Mornson reported that FEMA will only pay for and defend the first appraisal. He noted the City
2 does have the $150,000 and could purchase one home. He suggested the appraisals be-done for
3 that home now.
4
5 Mayor Ranallo suggested that two appraisals be done on the Lockrem home as no one is
6 currently living there. The City could then look at purchasing that home.
7
8 Marks stated he believed that obtaining appraisals on all five homes was a legitimate way to keep
9 moving forward and making progress. If the City does not receive funding,they will at least
10 know what is needed and what they need to work toward.
11
12 Thuesen stated he agreed at all five homes should be appraised at this time.
13
14 There was Council direction for City Manager to send RFPs to some appraisal firms and report
15 back to the Council.
16
17 Mornson reported the audit is underway. The audit will be presented at the May work session
18 and formally adopted in May. The Board of Review will be held on April 7. Carrie Luther, the
19 Hennepin County Appraiser, will present the sales ratio at the March 10, 1998 Council meeting.
20
21 Mornson reported the employee recognition lunch will be held on March 12, 1998.
22
23 Mornson reported two St. Anthony Police Officers were named as Officer of the Year by the
24 Minneapolis Builders Exchange Business Association and will be honored at a dinner at a
25 restaurant in Minneapolis.
26
27 The Spring Clean Up Date has been scheduled for May 2, 1998. Jay Hartman will coordinate
28 this event and Kim Moore-Sykes will provide administrative support. Mornson asked who
29 would be willing to represent the Council.
30
31 Faust stated he would be happy to represent the Council at this event. He stated this event is fun
32 and very rewarding.
33
34 Cavanaugh stated he would also be willing to help.
35
36 VIII. PUBLIC HEARINGS -None.
37
38 IX. NEW BUSINESS.
-19 d Resolution 98-029, re: Award Bid for Street Improvements on 33`d Avenue NE.
40 Cavanaugh stated it was his understanding that the Street Improvement Project for 1999 would
41 be coordinated with WSB.
42
City Council Regular Meeting Minutes
February 24, 1998
Page 10
1 Mornson reported the Public Works Department has a rating of the streets. Mr. Moberg will
2 study the rating and then attend a work session to give his opinion as to the location of the next
3 project. Iri the past, the City has tried to complete the projects in sections so there would be
4 consistency.'The WSB Report may change this process.
5
6 Bob Moberg, RCM, explained that the 1998 Street Improvement Project was started before the
7 Storm Water Task Force was initiated. The City now has a document that can aid in the
8 coordination of the storm water improvements and the street improvements.
9
10 Mr. Moberg explained-that the storm water management portion of the street improvements
11 includes replacement of the existing infrastructure and due to the heavy clay soil also may
12 include installation of drain tile three feet below the street. This helps to get the water out of the
13 roadway and improves the response of the roadway to the thaw-freeze cycle. Mr. Moberg
14 explained that the existing concrete infrastructure was installed in the roadways 40 to 50 years
15 ago and his company believes it is more cost efficient to replace it during road reconstruction
16 than to wait for it to break.
17
18 Motion by Marks, second by Faust to approve Resolution 98-029, awarding a bid for concrete
19 pavement rehabilitation and sidewalk construction for 33'd Avenue NE to Progressive
20 Contractors, Inc. in the amount of$322,332.90.
21
22 Motion carried unanimously.
23
24 B. Resolution 98-030, re: St. Anthony Boulevard Sidewalk Improvements.
25 Morrison reported a request was made last summer by Dennis Cavanaugh, as a resident, to
26 improve the sidewalks on St. Anthony Boulevard because asphalt had been placed over concrete.
27 The policy at that time was to assess property owners for 100%of the cost even though this is a
28 MSA road. MNDOT has since changed their policy and will pay for the reconstruction of
29 sidewalks on an MSA road. The sidewalk is in need of reconstruction. He asked if the Council
30 would like to perform the reconstruction at this time.
31
32. Faust asked why this sidewalk was being repaired. He asked if the City had a sidewalk
33 restoration plan.
34
35 Marks stated he thought the City did have a sidewalk plan. He noted that the City does not have
36 enough sidewalks and should install them whenever possible.
37
38 Faust stated he was not against the installation of sidewalks but wanted to be sure that this
39 sidewalk was the highest priority.
40
41 Cavanaugh stated this restoration has been deferred for a long time.
42
City Council Regular Meeting Minutes
February 24, 1998
Page 11
1 Mr. Moberg stated this funding is limited to sidewalks on an MSA road. This would include the
2 sidewalk on 37`h Avenue between Stinson Boulevard and Silver Lake Road and the small portion
3. along the City and school property on 33`d Avenue. 29`' Avenue and Silver Lane do not have a
4 sidewalk.
5
6 There was Council direction to City Manager to perform a study and provide a report of the
7 MSA sidewalks and which need to be replaced.
8
9 Morrison noted there are upcoming needs for the MSA funding including reconstruction of a
10 portion of Silver Lake Road in the next two years.
11
12 Motion by Faust, second by Thuesen to table consideration of Resolution 98-031, approving a
13 proposal for engineering services relating to St. Anthony Boulevard sidewalk improvements.
14
15 Motion carried unanimously.
16
17 Morrison asked if this delay would affect the project.
18
19 Mr. Moberg stated this is not a complicated project. The only storm sewer which may need to be
20 installed is pipe with bulkheads at each end.
21
22 Marks asked the cost of the project.
23
24 Mr. Moberg stated the project will cost$125,000 to $150,000. It will depend on the time of year
25 the project is bid. The sidewalk is 6 feet wide and 2,500 feet long.
26
27 C. Discuss Process for Painting the Water Tower.
28 Mr. Moberg explained that RCM would like authorization to prepare a report that determines the
29 extent of the repairs needed. The water tower was constructed in 1953 and repainted in 1971 and
30 1983. Whether a repainting or more work is necessary will be identified in the study. The inside
31 of the tower may need to be stripped and the tower may currently be painted with lead or
32 chromium paint.
33
34 Morrison noted the Council had discussed this issue 18 months ago. The Parks Task Force is
35 talking of putting a park in this area and the water tower still has the old logo.
36
37 Thuesen asked at what point the City would have to deal with the lead paint issue.
38
39 Mr. Moberg explained that the expected life of a water tower is 50 years. However, a water
40 tower can last 75 years with the proper maintenance. RCM's experience has been that when a
41 water tower gets to the point of needing to be stripped,the cost is often comparable to that of
42 replacement.
43
City Council Regular Meeting Minutes
February 24, 1998
Page 12
1 Faust questioned the replacement cost of a water tower.
2
.3 Mr. Moberg stated replacement cost is $300,000 to $400,000. Repainting and rehabilitation of a
4 tower is between$50,000 and $100;000. Mr. Moberg explained that as part of the restoration
5 process he would like the City to be involved in the color selection. The water tower is a visible
6 landmark.
7
8 Motion by Thuesen, second by Cavanaugh to authorize RCM to provide an engineering report in
9 regard to the restoration of the City's water tower in the amount of$4,800.
10
11 Motion carried unanimously.
12
13 D. Resolution 98-030, re: Sump Pump Inspection Services.
14 Motion by Cavanaugh, second by Marks to approve Resolution 98-030, approving WSB &
15 Associates, Inc. to perform sump pump inspection services.
16
17 Motion carried unanimously.
18
19 X. UNFINISHED BUSINESS.
20 Ordinance 1998-005, re: Water Rates ( 2nd Reading
21 Motion by Marks, second by Faust to approve the 2nd reading of Ordinance 1998-05, relating to
22 water rate, amending Section 610.02 of the 1993 St. Anthony Code of Ordinances.
23
24 Cavanaugh asked how the City of St. Anthony water rates compared to those of other
25 communities.
26
27 Mornson stated he would check with the Finance Director.
28
29 Motion carried unanimously.
30
31 XI. ADJOURNMENT.
32 Motion by Marks, second by Thuesen to adjoum the meeting at 8:50 P.M.
33
34 Motion carried unanimously.
35
36
37 Respectfully submitted,
38
39 Lorri Kopischke
40 TimeSaver Off Site Secretarial
41
42
43
City Council Regular Meeting Minutes
February 24, 1998
Page 13
1
2
3 Mayor
4
5
6
7 ATTEST:
8 City Clerk
Saint Anthony Village
Date: March 10, 1998 Approval
To: Mayor and Councilmembers
From: Judy Monson, License Clerk
Item: License and Permits for Approval:
General Contractors License:
Pine Cone Nursery Inc, Coon Rapids, MN/no job as yet
Ceres Environmental Services Inc., Brooklyn Park, MN/ demolitation of 2
cabins at Salvation Army Camp
Suburban.Lighting Inc., Stillwater, MN/sign work at 2400-37' Avenue NE
Cigarette License:
Cub Foods, 3930 Silver Lake Road (counter sales)
Garbage Haulers License:
United Waste Systems or MN Inc., dba: USA Waste Services, St. Paul, MN
formerly Gallagers's (Commercial & Residential License)
Aagard Sanitation Inc., Eagan, MN (Commercial License)
Larry's Quality Sanitation, Ramsey, MN (Residential License)
Vending Machine License:
Cub Foods
SJN Inc., St. Anthony Laundry
Bench License:
U S Bench Corporation, Minneapolis, MN (21 Benches)
Heating Contractors License:
Quality Air, Inc., Coon Rapids, MN / work at 2517 - 30`'' Avenue NE
AL B.A.Mittelsteadt,P.E.
350 Westwood Lake Office Bret A.Weiss,P.E.
8441 Wayzata Boulevard Peter Wi in ,P.E.
Mi nneapolis, MN 55426 Donald W..Stc Sternaa,P.E.
Ronald B.Bray,P.E.
612-541-4800 February 19, 1998
&Associates?Inc. FAX 541-1700 Invoice No: 01065.12-0000002
City of St.Anthony
Attn Michael Morrison
3301 Silver Lake Road
St Anthony MN 55418-1699
MCES Grant Application
Professional Services:January 1, 1998 through January 31,1998
Professional Personnel
Hours Rate Amount
Research/Data Collection
Janski, Charles 12.50 83.50 1,043.75
Totals 12.50 1,043.75
Total Labor 1,043.75
- Total this invoice $1,043.75
Comments:
Approved by:
Infrastructure Engineers Planners
EQUAL OPPORTUNITY EMPLOYER
STUART J.' BONNIWELL
Certified Public Accountant
s
10201 Wayzata Blvd.-Suite 235 Office:(612)545-1522
Minneapolis,MN 55305 The CPA Never Unee esUmale The Valm— Fax: (612)545-8891
December 1, 1997
Mr. Roger 'A. Larson,. Sr.
Finance Director
City of St. Anthony
3301 Silver Lake Road
St. Anthony, Minnesota 55418
Professional Services Rendered:
Accounting services, audit and preparation of
financial report of the City of St. Anthony
for the year ended December 31 , 1996, and
Preparation of Office of State Auditor's City
Financial Reporting Form for the year ended
December 31 , 1996.
Discussions and review regarding various finan-
cial matters. Analyze activities of certain
funds and assist in determining fund balance
designations and reservations. $11 ,165.00
Less progress billing (6,000.00)
Balance Due $5,165.00
DORS EY & WHITNEY L L P
P.O.BOX 1680
MINNEAPOLIS,MINNESOTA 55480-1680
(612)340-2600
(Tax Identification No.41-0223337)
STATEMENT OF ACCOUNT FOR PROFESSIONAL SERVICES
City of St. Anthony, Minnesota February 20, 1998
Attn: Mr. Michael J. Mornson Invoice No. 602936
3301 Silver Lake Road
St . Anthony MN 55418
For Legal Services Rendered Through 01/31/98
Client-Matter No: 178820-00047
General
Impounded Vehicles $ 135 . 00
Matters regarding Flooding Issues $ 65 . 00
Chazin Homes $ 690 . 00
01/13/98 Council Meeting $ 375 . 00
Review agenda mdterials and minutes; discussions
with City Manager $ 135. 00
Total For Legal Fees $1,400 . 00
Plus Disbursements Per Attached $ 15 .10
Total This Statement $1,415 .10
Service charges are based on rates established by Dorsey&Whitney.A schedule of those rates has been provided and is available
upon request.Disbursements and service charges,which either have not been received or processed,will appear on a later statement.
PAYMENT DUE UPON RECEIPT
Foster,Wentzell,Hedback& Brever,LLC
Attorneys at Law
Suite 201 Anthony Place
2855 Anthony Lane South
St.Anthony MN 55418
(612)789-1331 FAX:(612)789-2109
i
City of St.Anthony March 3, 1998
3301 Silver Lake Road
St. Anthony MN 55418
Attention: Roger Larson
i
f
In Reference To: 8001.01
Invoice# 25136
Hours Amount
For professional services rendered 0.00 $3,000.00
Previous balance $3,000.00
2/27/98-Payment-thank you ($3,000.00) j
I
Balance due $3,000.00
-BRC FINANCIAL SYSTEM NTHUNY VTL
)3/03/98 13:03 Check Register GL540R-VO4 "40' PAGE
BANK VENDOR CHECK# DATE AMOUNT
FIRS FIRSTAR ST . ANTHONY CHECKING
008216 A T & .T :WIRELESS .; SERVICE 6273 .:03/11/98' 92.63
008227 AIRTOUCH. CELLUL:AR ": 6274: 03/11/98 ` :56.72
.00001 A BE A E S R C S 62 1 ,8 0.00
005201 AMERICAN STORES 6276 03/11/98 9.59
005216 ANOKA TECHNICAL INSTITUT 6277 03/11/98 55.00
00 A
007048 BARYON SAND AND GRAVEL 6279 :03/1:1/98= 380 12
:00001 BCA/F.ORENS.IC SCIENCE ::.LAB 6280 ;03/11/98 200;00
007322 BERGER TRANSFER 510RAG 6281 0,5/11/98 .341 . 17
008134 BERKLEY INS. SERVICES 6282 03/11/98 377 .00
007253 BRAKE & EQUIPMENT WAREHO 6283 03/11/98 34.73
:008242 BUSINESS RECORDS CORP 6285 03/11/98; 592 '44
NORTHERN t511211 Lti PUWLK
008019 CAREERTRACK INC :6286 03/11198' 712,.00., .
.00005 CATHY JAROCZ 6287 03/11/98 0.0
.00002 CITY OF FRIDLEY 6288 03/11/98 278.80
000685 COAST TO COAST 6289 03/11/98 376. 46
COMPRESS . i
A490 .176
005048 DPC °INDUSTRIES :INC 6291 :;03/11/98 114:35
.00006 DUANE NEL80N 6292 .::0.3/11/98:: 50.`00:
-- —0 d$�35�I A
.00003 FRED C. LYON 6294 03/11/98 25.00
001025 G & K SERVICES 6295 03/11/98 44.55
008199 GOLD COUNTRY INC 6297 :.03/1`i/98: 143.00
001200 GOPHER BEARING 6298 `°.03/.1,1/98 29:33
-- -Z53 L.
.00003 HENNE•PIN COUNTY SHERIFF 6300 03/11/98 313.31
007066 HENNEPIN TECHNICAL COLLE 6301 03/11/98 296.50
002040
LTLLTE: SUBURBAN NEWSPAPE 6303 :03/11/98: 108 <69
- 008254 LMCIT %:.BERKLEY.`ADMINIST 6304 03/1`1/98; 9;607:63
002100 MACQUEEN EQUIPMENT .CO 6306 03/11/98 47.48
002130 MAMA 6307 03/11/98 16.00
....
007359 .MIDWEST,. 000A.=COL4 SOTTLI 6309 :'03/11/98; 133 05
f 005151 MIDW.EST` GREAT DANE/KOLST 6310 ;:03/11/98, 23 '44
=---�0-8
007131 MN DEPT OF HEALTH 6312 03/11/98 2,944.26
002505 NARDINI FIRE EQUIP CO 6313 03/11/98 63.05
F ; '00263,0 NORTFt STAR TURF <INC 6315 ;03/1•/98 120 71
007206
NORTHERN' 6316 ;03/11/98 :106 49
I
1, 007317 NORTHERN WATER WORKS SUP 6318 03/11/98 78.81
000045 OFFICE DEPOT 6319 03/11/98 598.31
b2 : . ..
BRC :FINANCIAL .SYSTEM ST. ;ANTHONY_ VLLLAG
I )3/03/98 13:03, Check Register '. GL540R
-VO4.40 .PAGE .
'r BANK VENDOR CHECK# DATE AMOUNT
FIRS FIRSTAR ST. ANTHONY CHECKING
.00007 : PHYSIO. CONTROL ..CORP. 6321;_03/11/98 287.82
I� 008271 PLETSCHER.':S GREENHOUSE .I 6322. 03/1`1/ 98 35. 95
002940 POSTMASTER 6323 03/11/98 1 ,325.00
007057 PRAXAIR 6324 03/11/98 50.50
.00006 RALPH REEDER CENTER 6325 03/11/98 80.00
008158 RAMSEY::'COUNTY 6326 03/11f 98 -516.,22
:00002 RMAA 6327 :G3/11%98 10.00
003315 SERCQLABORATORIES 632$' 03/11/.98 270:00.' _
.00008 SIGN SOLUTIONS 6329 03/11/98 618.85
.00009 SURVIVALINK CORPORATION 6330 03/11/98 5,872.50
.00004 TECHNICAL REPRODUCTIONS 6331 03/11/98 262.99
005273 TESSMAN :SEEDING 6332 03/;;11/98 19.9:79
:00004 TIM :.'AND :;TERE8 JOHNSON 6333: 43/11/98 50:00
_ 008202 . :..TIMESAVER ;:OFF:_ SIT.E SECRE.; 633.4 .03/1`1/98 117.75
008010 UNIFORMS UNLIMITED 6335 03/11/98 1 ,788.34
008270 UNITED STATES POSTAASSER 6336 03/11/98 600.00
.00007 UNIVERSITY OF MINNESOTA 6337 03/11/98 255.00
003700 VIKING SAFETYPRODUC;TS 6338„ :03/11/98 284.40
003735 WASTE MGMT 6339::03%11%.98 243. 12
008256 WILDLIFE 'MGMT. SERVICE !63.40 .:03/11/98 220.00
FIRSTAR ST. ANTHONY CHECKING 41 ,439.09 **
a
9
O
3
I
�I
J
1
1 `.
c}
5
6
;7
FINANCIAL SYSTEM ST. ANTHONY VILLAGE
9/98 15:48 Check Register GL540R-VO4.40 PAGE 1
BANK VENDOR CHECK# DATE AMOUNT
_�I�g__L�t�UOR CHECKING ACCOUNT --
004009 AETNA LIFE & CASUALTY 12535 02/19/98 627.24
004225 ALLIANT FOODSERVICE 12536 02'/19/98 1 ,086.86
.00001 ALLIED PAPER CO . 12537 02/19/98 127 .77
004015 AMERICAN LINEN SUPPLY CO 12538 02/19/98 456. 13
004293 BELL60Y CORP. 12539 02/19/98 _ 1 ,242. 18
004016 BERKLEY RISK SERVICES 12540 02/19/98 273.00
.00002 CARLSON REFRIGERATION 12541 02/19/98 1 ,259. 10
Q04080 CHISAGO LAKES DIST . CO. , 12542 02/19/98 9,291 .42
004087 CITY PAGES 12543 02/19/98 462.50
004095 COCA COLA BOTTLING 12544 02/19/98 663.36
Q04107 COMPTON 'S COMMERCIAL CLN 12545 02/19/98 2.445.95
004120 EAGLE WINE CO 12546 02/19/98 539.02
004125 EAST SIDE BEVERAGE CO 12547 02/19/98 49,862.75
004130 ECOLAB 12548 02/19/9_8__ 660.85
004135 ELECTRO WATCHMAN INC 12549 02/19/98 230.04
004143 FIRST CONCORD FINANCIAL 12550 02/19/98 184.55
004142 FOCUS NEWS _ 12551 0_2/19/98 _ 517.20
004141 FRITZ COMPANY, INC. 12552 02/119/98 4,371 .56
MAN .HOWIE INC. 12553 02/19/98 20.00
004157 GETT ,
_004170 GOODIN CO __ _!12554 02/19/98 14. 48_
004175 GRIGGS COOPER & CO INC 12555 02/19/98 10,621 . 10
004199 HARKER'S DIST. , INC. 12556 02/19/98 172.06
004201 HEGGIES PIZZA 12557 02/12/98 39.60
004202 HENN CTY SUPPORT & COLL 12558 02/19/98 105.78
004207 HOHENSTEIN 'S, INC 12559 02/19/98 2,097.45
004205 HOME JUICE CO 12560 02/19/98_____ 87.75
004208 I C M A RETIREMENT TRUS 12561 02/19/98 25.00
004220 JOHNSON� BROS. LIQ. 12562 02/19/98 6,992. 51
004218 JOHNSON PAPER & SUPPLY C 12563 02/19/98 1 ,234. 58
. 00003 KIRK'S ENTERPRISE 12564 02/19/98 60.32
004230 KUETHER DISTRIBUTING CO 12565 02/19/98 23,505.80
004241 LILLIE SUBURBAN NEWSPAPE 12566 02/19/98 400.00
004233 LMCIT % BERKLEY RISK SE 12567 02/19/98 767 .25
004265 MARK VII SALES INC 12568 02/19/98 18,846.40
004266 MARKET MECHANICAL 12569 02/19/98 792.26
004271 MEREDITH CABLE 12570 02/19/98 140.26
004272 METZ BAKING CO 12571 02/19/98 98. 17
004290 : MINNEGASCO 12572 02/19/98 2,495.07
004338 NORTH STAR ICE 12573 02/19/98 32.70
004335 NORTHERN STATES POWER 12574 02/19/98 2,303.50
004274 OFFICE DEPOT 12575 02/19/98 7 . 10
004345 OLD DUTCH FOODS INC 12576 02/19/98 172.08
004346 OMEGA PUBLISHING 12577 02/19/98 135.00
004354 PAUSTIS & SONS 12578 02/19/98 2,072.00
.00005 PERA 12579 02/19/98 36.00
004360 PHILLIPS WINE & SPIRITS 12580 02/19/98 1 ,653.35
004361 PINNACLE DIST . 12581 02/19/98 387. 45
004372 PLUNKETT S 12582 0-2f-1 1 ,364.8
FINANCIAL SYSTEM ST. ANTHONY VILLAGE
9%98 15;48 Check Register GL540R-VO4.40 PAGE 2
BANK VENDOR CHECK# DATE AMOUNT
LIAR LIQUOR CHECKING ACCOUNT
.00004 PRECISION CLEANING INC. 12583 02/19/98 230.00
004376 PRIOR WINE CO 12584 02/19/98 3,247 .49
004380 PUBLIC EMPLOYEE RETIREME 12585 02/19 98 1 ,652.48
004385 QUALITY WINE CO 12586 02/19/98 3, 160.45
.00006 RON 'S GOURMET ICE 12587 02/19/98 200.31
004450 STUART DISTRIBUTING CO 12588 02/19/98 16.50
004463 SUPERIOR PRODUCTS MFG CO 12589 02/19/98 52. 71
004466 SYSCO-MINNESOTA 12590 02/19/98 489.58
004480 TWIN CITY FILTER SERVICE 12591 027-19 98 107.86
004492 U S WEST COMMUNICATIONS 12592 02/19/98 1 ,271 .82
004494 WASTE MANAGEMENT - BLAIN 12593 02/19/98 416. 51
LIQUOR CHECKING ACCOUNT 161 ,827.08 ***
i
SYSTEM_g C'IAI ST _ ANTHF]NY VTI I AGE
0 /98 10:46 Check Register GL540R-VO4 40 PAGE 1
BAh1K_ vENOOR CHFC K# OAT AMOUNT
LIAR LIQUOR CHECKING ACCOUNT
004410 FIRSTAR ST ANTHONY- BANK 12498 02/.28/98 7,500.00
004081 CITY COUNTY FED. CREDIT ' .12528. 02/28/98 275.00.
-00001 AIMFF BLAC.KSTAD 1 '2529 02/28198 4C -00
004410 FIRSTAR ST ANTHONY BANK 12530 02/28/98 6,000.00
004411 FIRSTAR ST ANTHONY BANK 12531 02/28/98 10,000.00
_. 04250 LUNDGREN/MATTHFW H 12532 02f28/98 52-n0
004275 MIDKIFF/TERRI .:1.2533..02/28/98 150.00
004375 POSTMASTER . 12594 ,02/28/98 128.00
004411 FIRSTAR ST ANTHONY RAN 12595 02%28798 7'o,000 00
004410 FIRSTAR ST ANTHONY BANK 12596 02/28/98 5,000.00
004250 LUNDGREN/MATTHEW H . 12597 02/28/98 52.00
00427-5 MTOKIFF/TERRY 12598 02/28/9 150 00
004225, ALLIANT. FOODSERVICE 125:99 02/28/98 563.63
12600 02/28/98 617.00
004220 EAGLE WINE 'CO 517.83
004141 FRITZ COMPANY- TN " 1?601 02/28198
004185 GHI HEALTH PARTNERS 12602 02/28/98 466.74
004175 GRIGGS COOPER & CO INC 12603 02/28/98 2,252.53
QQ4220 TOHNSON EROS ITA 12604 02/28798 1R 167 33
004365 MEDICA CHOICE 12605 02/28/98 1 ,555.25
04272 METZ BAKING CO 12606 .02/28/98 76.`45
_OQ4354 PAUSTLS & SONS 12607 02/28/98 zn� 22
004360 PHILLIPS WINE & SPIRITS 12608 02/28/98 3,018.66
004376 PRIOR WINE CO 12609 02/28/98 1 ,674.68
.00002 RAINBOW TAPB : ADV. 12611 :02/28/98 990.00
004285 STAR TRIBUNE 12612 02/28/:98 48. 18
004^« sY-9f -MINNESOTA 12 613 0-f 2$ 98 X32 `37
004498 UNUM`LIFE INSURANCE 12614 02/28/98 11 .90
7a 49
LIQUOR _CHECKING ACCOUNT 61 ***
BRC
St. Anthony Village Request for Proposal
Business Records Corporation
January 15 1998. Government Services Division
ry , 2901 Third street south
P.O.Box 548
Waite Park,MN 56387-0548
Tel.302.253.2170
I. Technical Requirements Analysis
1.) Interview all major departments in the City to determine workflow and a needs
analysis.
2.) Review the current technical environment (both hardware and software
applications) and recommend strategies for implementing technology changes.
H. Strategic Planning
3.) Define the City-Wide Automation Goals. (This requires meetings with the City
Council or Data Processing Committee and the Department Heads.)
4.) Review budgets and estimate automation costs.
5.) Set up directions for technology updates including:
A. The transitional environment phase.
B. Future conceptual network and architecture phase.
M. Hardware Consultation
6.) Provide pre-installation consulting services to insure that the proper equipment
is ordered and configured correctly. BRC assumes that the Village will contract with
another company to install the Novell or NT network and network server and BRC will
not configure those pieces,but will review third party configurations for compatibility with
the AS/400 installation.
Part A: Upgrade of IBM S/36 to AS/400
SUB-TOTAL = $ 14,400
Part B: Upgrade to or inclusion of any other platform: No Bid.
Part C: Upgrade of Public Safety hardware platform: No Bid.
BRC
IV. Internet Connectivity Business Records Corporation
Government Services Division
2901 Third Street South
7.) Assist with the configuration of software issues related to an Intemeteo.Box 548
Waite Park,MN 56387-0548
Connection. BRC assumes that the Village will contract directly with an Intemetra 302.253.2170
Service provider to supply the connectivity software and hardware required, including an
appropriate proxy server and/or firewall. BRC also assumes that the Internet connectivity,
for this purpose includes only staff access to the Internet and/or a web page or pages for
public access, and does not include direct public access to any of the city's data files.
Time and Materials Basis @ $120/hour
V. Internet Network Support
8.) Provide support for network problems and questions,which may result
Internet connection. BRC is not in a position to provide this kind of on
because of an P P
going support. This support will need to be purchased from your Internet provider. In
addition, if the city installs a Novell or NT network,the city will need to contract with a
purposes and obtain a support a
local networking company for those ort gr eement from them.pp
No Bid.
VI. Plannin g Documents.
Part A:
9.) Provide the following written information.
A. Prepare an overview of how the upgrading of the City's computers will
improve internal operations
. .
B. Discuss how the use of computers will improve the City's ability to
communicate with the public.
C. Provide data which details the increase in productivity for City staff.
D. Discuss the use of computers for keeping track of Police tickets,building
inspections, public hearing notices and other City related record keeping.
Part B:
E. Review appropriate alternatives.
10.)Deliver the plan in writing to the City of St. Anthony.
Planning Document Total=$2,400
A. You may be required to present your finding and recommendations at a City
Council Meeting.
Included in the Technology Requirements Analysis, I above.
BRC
SUMMARY OF SERVICES
Business Records Corporation
Government Services Division
2901 Third Street South
I. Technical Requirements Wa ite uirements P.O.aBox k48
Park MN 56387-0548
Tel.302.253.2170
II. Strategic Plan
III. Hardware Consultation (AS/400 Only)
SUB-TOTAL= $ 14,400
IV. Internet.Connectivity Time and Materials Basis @ $120/hr
V. Internet Network Support No Bid
VI. Planning Documents $ 2,400
TOTAL BID= $_
BRC
Business Records Corporation
Government Services Division
2901 Third Street South
P.O.Box 548
BRC RESUME Waite Park,MN 56387-0548
Tel.302.253.2170
Jim Benson— Special Projects Manager/Technical Consultant
Bachelor of Science -Mathematics, St. Cloud State University, MN.
Employed with BRC -IS since September, 1981 as Government Products and
Services Director. Previous experience includes responsibility for directing,
coordinating and communicating the divisional marketing and sales activities of
ISD Government Products and Services, 4 years as System Product Manager for
ESV-Region III(MECC), 2 years as Administrative Assistant for Cambridge-
Isanti School District, and 3 years teaching mathematics and data processing at
Cambridge Senior High School,MN.
Responsible for coordinating all special projects and consulting activities for the
GSD division.
MINNESOTA TECHNOLOGY REQUIREMENTS ANALYSIS REFERENCES
Martin County Jim Halstrom 507.238.3211
Rice County Lorraine Nelson 507.332.6136
DORS EY & WHITNEY L L P
MINNEAPOLIS PILLSBURY CENTER SOUTH NEW YORK
WASHINGTON,D.C. 220 SOUTH SIXTH STREET DENVER
LONDON MINNEAPOLIS, MINNESOTA 55402-1498 SEATTLE
BRUSSELS TELEPHONE: (6.12) 340-2600
FARGO
HONG KONG FAX: (612) 340-2868
DES MOINES BILLINGS
ROCHESTER MISSOULA
COSTA MESA GREAT FALLS
JEROME P. GILLIGAN
(612) 340-2962
February 24, 1998
Mr. Michael Mornson
City Manager
City of St. Anthony
3301 Silver Lake Road
St. Anthony, MN 55418
Re: $725,000 General Obligation Improvement
Bonds, Series 1998A
City of St. Anthony, Minnesota
Dear Mike:
Enclosed is a form of resolution of the City Council authorizing the issuance,
awarding the sale and setting forth the terms and conditions of the Bonds referred to above, for
consideration by the City Council at its meeting on March 10th. The resolution contains various
blanks which will be completed once the sale details are known.
Should you have any questions, please call me.
Yours t*Gilli6'l
ero
JPG:cmn
Enclosure
cc: Nancy Langness
CERTIFICATION OF MINUTES RELATING TO
$725,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1998A
Issuer: City of St. Anthony, Minnesota
Governing body: City Council
Kind, date, time and place of meeting: A regular meeting held on March 10, 1998,
at 7:00 o'clock P.M., at the City Hall.
Members present:
Members absent:
Documents attached:
Minutes of said meeting(including): Pages 1 through 20
RESOLUTION 98-032
RESOLUTION RELATING TO $725,000 GENERAL OBLIGATION
IMPROVEMENT BONDS, SERIES 1998A; AWARDING THE SALE,
FIXING THE FORM AND DETAILS AND PROVIDING FOR THE
EXECUTION AND DELIVERY THEREOF AND SECURITY
THEREFOR AND LEVYING AD VALOREM TAXES FOR THE
PAYMENT THEREOF
I, the undersigned, being the duly qualified and acting recording officer of the
public corporation issuing the obligations referred to in the title of this certificate,certify that the
documents attached hereto,.as described above, have,been carefully compared with the original
records of the corporation in my legal custody, from which they have been transcribed; that the
documents are.a correct and complete transcript of the minutes of a meeting of the governing
body of the corporation, and correct and complete copies of all resolutions and other actions
taken and of all documents approved by the governing body at the meeting, insofar as they relate
to the obligations; and that the meeting was duly held by the governing body at the time and
place and was attended throughout by the members indicated above,pursuant to call and notice
given as required by law.
WITNESS my hand officially as such recording officer this day of
$ 1998.
Connie Kroeplin, City Clerk
It was reported that (_)proposals for the purchase of the $725,000
General Obligation Improvement Bonds, Series 1998A of the City (the "Bonds") in accordance
with the Terms of Proposal for the sale of the Bonds approved by the City Council by Resolution
98- �3 2, adopted February 10, 1998. The bids have been opened,read and tabulated, and the
terms of each were found to be as follows:
idder Purchase Price Interest Rates Net Interest Cost
(See Attached)
Councilmember then introduced the following resolution and
moved its adoption:
RESOLUTION 98- 0 3 2
RESOLUTION RELATING TO $725,000 GENERAL OBLIGATION
IMPROVEMENT BONDS, SERIES 1998A; AWARDING THE SALE,
FIXING THE FORM AND DETAILS AND PROVIDING FOR THE
EXECUTION AND DELIVERY THEREOF AND SECURITY
THEREFOR AND LEVYING AD VALOREM TAXES FOR THE
PAYMENT THEREOF
BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota
(the "City"), as follows:
Section 1. Recitals,Authorization and Sale of Bonds.
1.01. Authorization. This Council has heretofore ordered the 1998 Street
Improvements to be constructed within the City under and pursuant to Minnesota Statutes,
Chapter 429, consisting of utility improvmeents, replacement of existing watermain and storm
sewer and street improvements (collectively the "Improvements"). The present estimated total
cost of the Improvements is as follows:
Project Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . $698,250
Issuance Expenses . . . . . . . . . . . . . . . . . . . . . . . 17,325
Discount Allowance . . . . . . . . . . . . . . . . . . . . . . 9.425
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $725,000
This Council hereby determines to issue and sell $725,000 principal amount of General
Obligation Improvement Bonds, Series 1998A, of the City(the `Bonds")to defray the,expense
incurred and estimated to be incurred by the City in making the Improvements, including every,
item of cost of the kinds authorized in Minnesota Statutes, Section 475.65, and$9,425
representing interest as provided in Minnesota Statutes, Section 475.56. The City has,retained
Springsted Incorporated to act as financial advisor to the City in connection with the issuance
and sale of the Bonds, and it is hereby determined to sell the Bonds without meeting the
requirements as to public sale under Minnesota Statutes, Section 475.60, subdivision 1, pursuant
to the exception from such requirement contained in clause(9) of Minnesota Statutes, Section
475.60, subdivision 2.
1.02. Sale of Bonds. The City has received (_)proposals for the
purchase of the Bonds. The most favorable proposal received is that of
of (the "Purchaser"),to purchase the
Bonds at a price of$ ,the Bonds to bear interest at the rates set forth in Section
3.01 hereof and to be subject to the further terms and conditions set forth in this Resolution. The
proposal is hereby accepted, and the Mayor and the City Manager are hereby authorized and
directed to execute a contract on the part of the City for the sale of the Bonds with the Purchaser.
The good faith checks of the unsuccessful bidders shall be returned forthwith.
1.03. Performance of Requirements. All acts, conditions and things which are
required by the Constitution and laws of the State of Minnesota to be done,to exist,to happen
and to be performed precedent to and in the valid issuance of the Bonds having been done,
existing,having happened and having been performed, it is now necessary for this Council to
establish the form and terms of the Bonds, to provide security therefor and to issue the Bonds
forthwith.
1.04. Maturities of Bonds. The Council hereby finds that the maturities of the
Bonds as set forth in Section 3.01 hereof are warranted by the anticipated collections of special
assessments and ad valorem taxes levied and to be levied for the payment of the Bonds as
provided in Section 4 hereof.
Section 2. Form of Bonds. The Bonds shall be prepared in substantially the
following form:
-2-
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTIES OF HENNEPIN AND RAMSEY
CITY OF ST. ANTHONY
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1998A
Date of
Interest Rate Maturity Original Issue CUSIP
April 1, 1998
REGISTERED OWNER:
PRINCIPAL AMOUNT: DOLLARS
THE CITY OF ST. ANTHONY, Hennepin and Ramsey Counties, Minnesota(the
"City"), acknowledges itself to be indebted and, for value received,hereby promises to pay to the
registered owner named above, or registered assigns,the principal amount specified above, on
the maturity date specified above, with interest thereon from the date of original issue specified
above, or from the most recent interest payment date to which interest has been paid or duly
provided for, at the annual rate specified above. Interest hereon is payable on February 1 and
August 1 in each year, commencing February 1, 1999,to the person in whose name this Bond is
registered at the close of business on the 15th day (whether or not a business day) of the
immediately preceding month, all subject to the provisions referred to herein with respect to the
redemption of the principal of this Bond before maturity. The interest hereon and, upon
presentation and surrender hereof, the principal hereof, are payable in lawful money of the
United States of America by check or draft of
in , , as Bond Registrar,Transfer Agent and Paying Agent(the "Bond
Registrar'); or its successor designated under the Resolution described herein.
This Bond is one of an issue in the aggregate principal amount of$725,000 (the
"Bonds"), issued pursuant to a resolution adopted by the City Council on March 10, 1998 (the
"Resolution"), for the purpose of financing the costs of various street and utility improvements in
the City (the "Improvements"), and is issued pursuant to and in full conformity with the.
provisions of the Constitution and laws of the State of Minnesota thereunto enabling, including
Minnesota Statutes, Chapters 429 and 475. The Bonds are payable primarily from the 1998
Improvement Bond Fund(the "Fund") of the City. In addition, for the full and prompt payment
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of the principal and interest on the Bonds as the same become due, the full faith, credit and
taxing power of the City have been and are hereby irrevocably pledged. The Bonds are issuable
only as fully registered bonds in denominations of$5,000 or any multiple thereof, of single
maturities.
Bonds maturing in the years 2000 through 2006 are payable on their respective'
stated maturity dates without option of prior payment, but Bonds having stated maturity dates in
2007 and later years are each subject to redemption and prepayment, at the option of the City and
in whole or in part, and if in part, in the maturities selected by the City and, within a maturity, in
$5,000 principal amounts selected by lot, on February 1, 2006 and on any date thereafter, at a
price equal to the principal amount thereof to be redeemed plus accrued interest to the date of
redemption. At least thirty days prior to the date set for redemption of any Bond,notice of the
call for redemption will be mailed to the Bond Registrar and to the registered owner of each
Bond to be redeemed at his address appearing in the Bond Register, but no defect in or failure to
give such mailed notice of redemption shall affect the validity of the proceedings for the
redemption of any Bond not affected by such defect or failure. Official notice of redemption
having been given as aforesaid,the Bonds or portions of the Bonds so to be redeemed shall, on
the redemption date, become due and payable at the redemption price herein specified and from
and after such date(unless the City shall default in the payment of the redemption price) such
Bond or portions of Bonds shall cease to bear interest. Upon the partial redemption of any Bond,
a new Bond or Bonds will be delivered to the registered owner without charge, representing the
remaining principal amount outstanding.
The Bonds have been designated by the City as "qualified tax-exempt obligations"
pursuant to Section 265(b) of the Internal Revenue Code of 1986, as amended.
As provided in the Resolution and subject to certain limitations set forth therein,
this Bond is transferable upon the books of the City at the principal office of the Bond Registrar,
by the registered owner hereof in person or by his attorney duly authorized in writing upon
surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar,
duly executed by the registered owner or his attorney; and may also be surrendered in exchange
for Bonds of other authorized denominations. Upon such transfer or exchange, the City will
cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the
same aggregate principal amount,bearing interest at the same rate and maturing on the same
date, subject to reimbursement for any tax, fee or governmental charge required to be paid with
respect to such transfer or exchange.
The City and the Bond Registrar may deem and treat the person in whose name
this Bond is registered as the absolute owner hereof,whether this Bond is overdue or not, for the
purpose of receiving payment and for all other purposes,and neither the City nor the Bond
Registrar shall be affected by any notice to the contrary.
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IT IS HEREBY CERTIFIED,RECITED, COVENANTED AND AGREED that
all acts, conditions and things required by the Constitution and laws of the State of Minnesota to
be done,to exist, to happen and to be performed precedent to and in the issuance of this Bond in
order to make this Bond a valid and binding general obligation of the City according to its terms,
have been done, do exist, have happened and have been performed in regular and due form as so
required; that prior to the issuance hereof the City has levied or agreed to levy special
assessments on property specially benefited by the Improvements and ad valorem taxes on all
taxable property in the City, collectible in the years and amounts required to produce sums not
less than 5% in excess of the principal of and interest on the Bonds as such principal and interest
respectively become due, and has appropriated the same to the Fund in the manner specified in
Minnesota Statutes, Section 429.091, Subdivision 4; that,to take care of any accumulated or
anticipated deficiency in the Fund, additional ad valorem taxes are required by law to be levied
upon all taxable property in the City without limitation as to rate or amount; and that the issuance
of this Bond does not cause the indebtedness of the City to exceed any constitutional or statutory
limitation.
This Bond shall not be valid or become obligatory for any purpose or be entitled
to any security or benefit under the Resolution until the Certificate of Authentication hereon shall
have been executed by the Bond Registrar by the manual signature of a person authorized to sign
on its behalf.
IN WITNESS WHEREOF,the City of St. Anthony,Hennepin and Ramsey
Counties, Minnesota, by its City Council,has caused this Bond to be executed by the signatures
of the Mayor and the City Manager and has caused this Bond to be dated as of the date set forth
below.
Date of Authentication:
CITY OF ST. ANTHONY
City Manager Mayor
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CERTIFICATE OF AUTHENTICATION
This is one of the Bonds delivered pursuant to the Resolution mentioned within.
,
as Bond Registrar
By
Authorized Representative
The following abbreviations,when used in the inscription on the face of this
Bond, shall be construed as though they were written out in full according to applicable laws or
regulations:
TEN COM - - as tenants UNIF TRANS MIN ACT. . . . . . . Custodian. . . . . . . .
in common (Cust) (Minor)
TEN ENT- - as tenants
by the entireties under Uniform Transfers to
Minors
Act. . . . . . . . . . . . . . . . . . . . . .
JT TEN - - as joint tenants (State)
with right of
survivorship and
not as tenants in
common
Additional abbreviations may also be used.
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ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers
unto the within
Bond and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney to transfer the within Bond on the books kept for registration thereof, with
full power of substitution in the premises.
Dated:
PLEASE INSERT SOCIAL SECURITY
OR OTHER IDENTIFYING NUMBER NOTICE: The signature(s)to
OF ASSIGNEE: this assignment must correspond with the
name as it appears upon the face of
the within Bond in every particular,
/ / without alteration, enlargement
or any change whatsoever.
Signature(s) must be guaranteed by an
"eligible guarantor institution"
meeting the requirements of the
Bond Registrar, which requirements
include membership or participation
in the Securities Transfer Association
Medalion Program (STAMP) or such
other"signature guaranty'program"
as may be determined by the Bond
Registrar in addition to or in
substitution for STAMP, all in
accordance with the Securities
Exchange Act of 1934, as amended.
Section 3. Bond Terms Execution and Delivery.
3.01. Maturities Interest Rates Denominations Payment. Dating of Bonds. The
City shall forthwith issue and deliver the Bonds,which shall be denominated"General
Obligation Improvement Bonds, Series 1998A" and shall be payable primarily from the.1998
General Obligation Improvement Bond Fund of the City created in Section 4.02. The Bonds
shall be dated as of April 1, 1998, shall be issuable in the denominations of$5,000 or any
integral multiple thereof, shall mature on February 1 in the years and amounts set forth below,
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and Bonds maturing in such years and amounts shall bear interest, computed on the basis of a
360-day year consisting of twelve 30-day months, from April 1, 1998 until paid or duly called
for redemption at the rates per annum set forth opposite such years and amounts, respectively:
Year Amount Rate Year Amount Rate
2000 $10,000 % 2008 $50,000 %
2001 40,000 2009 55,000
2002 40,000 2010 55,000
2003 40,000 2011 60,000
2004 45,000 2012 60,000
2005 45,000 2013 65,000
2006 45,000 2014 65,000
2007 50,000
The Bonds shall be issuable only in fully registered form, of single maturities.
The interest thereon and,upon surrender of each Bond at the principal office of the Registrar
described herein,the principal amount thereof, shall be payable by check or draft issued by the
Registrar. Each Bond shall be dated by the Registrar as of the date of its authentication.
3.02. Interest Payment Dates. Interest on the Bonds shall be payable on February
1 and August 1 in each year, commencing February 1, 1999, to the owners thereof as such appear
of record in the bond register as of the close of business on the fifteenth day of the immediately
preceding month, whether or not such day is a business day.
3.03. Registration. The City shall appoint, and shall maintain, a bond registrar,
transfer agent and paying agent (the "Registrar"). The effect of registration and the rights and
duties of the City and the Registrar with respect thereto shall be as follows:
(a) Re ig ster. The Registrar shall keep at its principal office a bond register in
which the Registrar shall provide for the registration of ownership of Bonds and the
registration of transfers and exchanges of Bonds entitled to be registered,transferred or
exchanged.
(b) Transfer of Bonds. Upon surrender to the Registrar for transfer of any Bond
duly endorsed by the registered owner thereof or accompanied by a written instrument of
transfer, in form satisfactory to the Registrar, duly executed by the registered owner
thereof or by an attorney duly authorized by the registered owner in writing,the Registrar
shall authenticate and deliver, in the name of the designated transferee or transferees, one
or more new Bonds of a like aggregate principal amount and maturity, as requested by the
transferor. The Registrar may, however, close the books for registration of any transfer
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after the fifteenth day of the month preceding each interest payment date and until such
interest payment date.
(c) Exchange of Bonds. Whenever any Bond is surrendered by the registered
owner for exchange,the Registrar shall authenticate and deliver one or more new Bonds
of a like aggregate principal amount, interest rate and maturity, as requested by the
registered owner or the owner's attorney duly authorized in writing.
(d) Cancellation. All Bonds surrendered upon any transfer or exchange shall be
promptly cancelled by the Registrar and thereafter disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When any Bond is presented to the
Registrar for transfer,the Registrar may refuse to transfer the same until it is satisfied that
the endorsement on such Bond or separate instrument of transfer is valid and genuine and
that the requested transfer is legally authorized. The Registrar shall incur no liability for
its refusal, in good faith, to make transfers which it, in its judgment, deems improper or
unauthorized.
(f) Persons Deemed Owners. The City and the Registrar may treat the person in
whose name any Bond is at any time registered in the bond register as the absolute owner
of such Bond, whether such Bond shall be overdue or not,for the purpose of receiving
payment of, or on account of; the principal of and interest on such Bond and for all other
purposes, and all such payments so made to any such registered owner or upon the
owner's order shall be valid and effectual to satisfy and discharge the liability of the City
upon such Bond to the extent of the sum or sums so paid.
(g) Taxes, Fees and Charges. For every transfer or exchange of Bonds (except
for an exchange upon a partial redemption of a Bond), the Registrar may impose a charge
upon the owner thereof sufficient to reimburse the Registrar for any tax, fee or other
governmental charge required to be paid with respect to such transfer or exchange.
(h) Mutilated Lost, Stolen or Destroyed Bonds. In case any Bond shall become
mutilated or be lost, stolen or destroyed,the Registrar shall deliver a new Bond of like
amount, number; interest rate, maturity date and tenor in exchange and substitution for
and upon cancellation of any such mutilated Bond or in lieu of and in substitution for any
such Bond lost, stolen or destroyed, upon the payment of the reasonable expenses and
charges of the Registrar in connection therewith; and, in the case of a Bond lost, stolen or
destroyed, upon receipt by the Registrar of evidence satisfactory to it that such Bond was
lost, stolen or destroyed,and of the ownership thereof,and upon receipt by the Registrar
of an appropriate bond or indemnity in form, substance and amount satisfactory to it, in
which both the City and the Registrar shall be named as obligees. All Bonds so
surrendered to the Registrar shall be cancelled by it and evidence of such cancellation
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shall be given to the City. If the mutilated, lost, stolen or destroyed Bond has already
matured or been called for redemption in accordance with its terms, it shall not be
necessary to issue a new Bond prior to payment.
(i) AuthenticatinAgent. The Registrar is hereby designated authenticating agent
for the Bonds, within the meaning of Minnesota Statutes, Section 475.55, Subdivision 1.
3.04. Appointment of Initial Re isg tray. The City hereby appoints
in , as the initial Registrar.
The Mayor and City Manager are authorized to execute and deliver, on behalf of the City, a
contract with , as Registrar. Upon merger or consolidation
of the Registrar with another corporation, if the resulting corporation is a bank or trust company
authorized by law to conduct such business, such corporation shall be authorized to act as
successor Registrar. The City agrees to pay the reasonable and customary charges of the
Registrar for the services performed. The City reserves the right to remove any Registrar upon
thirty (30) days' notice and upon the appointment of a successor Registrar, in which event the
predecessor Registrar shall deliver all cash and Bonds in its possession to the successor
Registrar. On or before each principal or interest due date,without further order of this Council,
the Finance Director shall transmit to the Registrar from the 1998 Improvement Bond Fund
described in Section 4 hereof,moneys sufficient for the payment of all principal and interest then
due.
3.05. Redemption. Bonds maturing in the years 2000 through 2006 are payable
on their respective stated maturity dates without option of prior payment, but Bonds maturing in
2007 and later years are each subject to redemption, at the option of the City and in whole or in
part, and if in part, in the maturities selected by the City and,within any maturity, in$5,000
principal amounts selected by the Registrar by lot, on February 1, 2006 and on any date
thereafter, at a redemption price equal to the principal amount thereof to be redeemed plus
accrued interest to-the date of redemption. At least thirty days prior to the date set for
redemption of any Bond, the City shall cause notice of the call for redemption to be mailed to the
Registrar and to the registered owner of each Bond to be redeemed, but no defect in or failure to
give such mailed notice of redemption shall affect the validity of proceedings for the redemption
of any Bond not affected by such defect or failure. The notice of redemption shall specify the
redemption date, redemption price, the numbers, interest rates and CUSIP numbers of the Bonds
to be redeemed and the place at which the Bonds are to be surrendered for payment,which is the
principal office of the Registrar. Official notice of redemption having been given as aforesaid,
the Bonds or portions thereof so to be redeemed shall, on the redemption date,become due and
payable at the redemption price therein specified and from and after such date(unless the City
shall default in the payment of the redemption price) such Bonds or portions thereof shall cease
to bear interest.
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Bonds in a denomination larger than$5,000 may be redeemed in part in any
integral multiple of$5,000. The owner of any Bond redeemed in part shall receive without
charge, upon surrender of such Bond to the Registrar, one or more new Bonds in authorized
denominations equal in principal amount to be unredeemed portion of the Bond so surrendered.
3.06. Preparation and Delivery.- The Bonds shall be prepared under the direction
of the City Manager and shall be executed on behalf of the City by the signatures of the Mayor
and the City Manager; provided that said signatures may be printed, engraved, or lithographed
facsimiles thereof. In case any officer whose signature, or a facsimile of whose signature, shall
appear on the Bonds shall cease to be such officer before the delivery of any Bond, such.
signature or facsimile shall nevertheless be valid and sufficient for all purposes,the same as if
such officer had remained in office until delivery. Notwithstanding such execution,no Bond
shall be valid or obligatory for any purpose or entitled to any security or benefit under this
Resolution unless and until a certificate of authentication on such Bond has been duly executed
by the manual signature of an authorized representative of the Registrar. Certificates of
authentication on different Bonds need not be signed by the same representative. The executed
certificate of authentication on each Bond shall be conclusive evidence that it has been
authenticated and delivered under this Resolution. When the Bonds have been so executed and
authenticated, they shall be delivered by the City Manager to the Purchaser upon payment of the
purchase price in accordance with the contract of sale heretofore made and executed, and the
Purchaser shall not be obligated to see to the application of the purchase price.
3.07. Securities Depository. (a) For purposes of this Section the following terms
shall have the following meanings:
"Beneficial Owner" shall mean,whenever used with respect to a Bond,the person
in whose name such Bond is recorded as the beneficial owner of such Bond by a Participant on
the records of such Participant, or such person's subrogee.
"Cede& Co." shall mean Cede& Co., the nominee of DTC, and any successor
nominee of DTC with respect to the Bonds.
"DTC" shall mean The Depository Trust Company of New York,New York.
"Participant" shall mean any broker-dealer, bank or other financial institution for
which DTC holds Bonds as securities depository.
"Representation Letter" shall mean the Representation Letter from the City to
DTC with respect to the procedures of DTC presently on file with DTC.
(b) The Bonds shall be initially issued as separately authenticated fully registered
bonds, and one Bond shall be issued in the principal amount of each stated maturity of the
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Bonds. Upon initial issuance, the ownership of such Bonds shall be registered in the bond
register in the name of Cede& Co., as nominee of DTC. The Registrar and the City may treat
DTC (or its nominee) as the sole and exclusive owner of the Bonds registered in its name for the
purposes of payment of the principal of or interest on the Bonds, selecting the Bonds or portions
.thereof to be redeemed, if any, giving any notice permitted or required to be given to registered
owners of Bonds under this resolution, registering the transfer of Bonds, and for all other
purposes whatsoever; and neither the Registrar nor the City shall be affected by any notice to the
contrary. Neither the Registrar nor the City shall have any responsibility or obligation to any
Participant, any person claiming a beneficial ownership interest in the Bonds under or through
DTC or any Participant, or any other person which is not shown on the bond register as being a
registered owner of any Bonds, with respect to the accuracy of any records maintained by DTC
or any Participant, with respect to the payment by DTC or any Participant of any amount with
respect to the principal of or interest on the Bonds,with respect to any notice which is permitted
or required to be given to owners of Bonds under this resolution,with respect to the selection by
DTC or any Participant of any person to receive payment in the event of a partial redemption of
the Bonds, or with respect to any consent given or other action taken by DTC as registered owner
of the Bonds. So long as any Bond is registered in the name of Cede& Co.,as nominee of DTC,
the Registrar shall pay all principal of and interest on such Bond, and shall give all notices with
respect to such Bond, only to Cede& Co. in accordance with the Representation Letter,and all
such payments shall be valid and effective to fully satisfy and discharge the City's obligations
with respect to the principal of and interest on the Bonds to the extent of the sum or sums so
paid. No person other than DTC shall receive an authenticated Bond for each separate stated
maturity evidencing the obligation of the City to make payments of principal and interest. Upon
delivery by DTC to the Registrar of written notice to the effect that DTC has determined to
substitute a new nominee in place of Cede & Co.,the Bonds will be transferable to such new
nominee in accordance with paragraph(d) hereof.
(c) In the event the City determines that it is in the best interest of the Beneficial
Owners that they be able to obtain Bonds in the form of bond certificates,the City may notify
DTC and the Registrar, whereupon DTC shall notify the Participants of the availability through
DTC of Bonds in the form of certificates. In such event, the Bonds will be transferable in
accordance with paragraph(d)hereof. DTC may determine to discontinue providing its services
with respect to the Bonds at any time by giving notice to the City and the Registrar and
discharging its responsibilities with respect thereto under applicable law. In such event the
Bonds will be transferable in accordance with paragraph(d) hereof.
(d) In the event that any transfer or exchange of Bonds is permitted under
paragraph(b) or(c) hereof, such transfer or exchange shall be accomplished upon receipt by the
Registrar of the Bonds to be transferred or exchanged and appropriate instruments of transfer to
the permitted transferee in accordance with the provisions of this resolution. In the event Bonds
in the form of certificates are issued to owners other than Cede & Co., its successor as nominee
for DTC as owner of all the Bonds, or another securities depository as owner of all the Bonds,
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the provisions of this resolution shall also apply to all matters relating thereto, including, without
limitation, the printing of such Bonds in the form of bond certificates and the method of payment
of principal of and interest on such Bonds in the form of bond certificates.
Section 4. Security Provisions.
4.01. 1998 Improvement Construction Fund. There is hereby created a special
bookkeeping fund.to be designated as the "1998 Improvement Construction Fund" (the
"Construction Fund"),to be held and administered by the Finance Director separate and apart
from all other funds of the City. The City appropriates to the Construction Fund (a)$715,575 of
the proceeds of the sale of the Bonds, and(b) all collections of special assessments levied for the
Improvements until completion and payment of all costs of the Improvements. The Construction
Fund shall be used solely to defray expenses of the Improvements, including but not limited to
the transfer to the Bond Fund, created in Section 4.02 hereof, of amounts sufficient for the
payment of interest and principal, if any, due upon the Bonds prior to the completion and
payment of all costs of the Improvements and the payment of the expenses incurred by the City
in connection with the issuance of the Bonds. Upon completion and payment of all costs of the
Improvements, any balance of the proceeds of Bonds remaining in the Construction Fund may be
used to pay the cost, in whole or in part, of any other improvements instituted pursuant to the
Act, as directed by the City Council, but any balance of such proceeds not so used shall be
credited and paid to the Bond Fund.
4.02. 1998 Improvement Bond Fund. So long as any of the Bonds are
outstanding and any principal of or interest thereon unpaid,the Finance Director shall maintain a
separate and special bookkeeping fund designated"1998 Improvement Bond Fund" (the "Bond
Fund")to be used for no purpose other than the payment of the principal of and interest on the
Bonds and on such other improvement bonds of the City as have been or may be directed to be
paid therefrom. The City irrevocably appropriates to the Bond Fund (a) all amounts in excess of
$715,575 receivedfrom the Purchaser, (b)the collections of special assessments and other funds
to be credited and paid thereto in accordance with the provisions of Section 4.0 1, (c) any taxes
levied in accordance with this resolution, and(d) all such other moneys as shall be received and
appropriated to the Bond Fund from time to time. If the balance in the Bond Fund is at any time
insufficient to pay all interest and principal then due on all bonds payable therefrom,the payment
shall be made from any fund of the City which is available for that purpose, subject to
reimbursement from the Bond Fund when the balance therein is sufficient, and the Council
covenants and agrees that it will each year levy a sufficient amount to take care of any
accumulated or anticipated deficiency, which levy is not subject to any constitutional or statutory
tax limitation.
There are hereby established two accounts in the Bond Fund, designated as the
"Debt Service Account" and the "Surplus Account." All money appropriated or to be deposited
in the Bond Fund shall be deposited as received into the Debt Service Account. On each
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February 1, the Finance Director shall determine the amount on hand in the Debt Service
Account. If such amount is in excess of one-twelfth of the debt service payable from the Bond
Fund in the immediately preceding 12 months,the Finance Director shall promptly transfer the
amount in excess to the Surplus Account. The City appropriates to the Surplus Account any
amounts to be transferred thereto from the Debt Service Account as herein provided and all
income derived from the investment of amounts on hand in the Surplus Account. If at any time.
the amount on hand in the Debt Service Account is insufficient to meet the requirements of the
Bond Fund, the Finance Director shall transfer to the Debt Service Account amounts on hand in
the Surplus Account to the extent necessary to cure such deficiency.
4.03. Additional Bonds. The City reserves the right to issue additional bonds
payable from the Bond Fund as may be required to finance costs of the Improvements not
financed hereby; provided that the City Council shall,prior to the delivery of such additional
bonds, levy or agree to levy by resolution sufficient additional special assessments and ad
valorem taxes, if any, which, together with other moneys or revenues pledged for the payment of
said additional obligations, will produce revenues at least five percent(5%) in excess of the
amount needed to pay when due the principal and interest on all bonds payable from the Bond
Fund. The additional special assessments,ad valorem taxes and moneys or revenues so pledged,
levied or agreed to be levied shall be irrevocably appropriated to the Bond Fund in the manner
provided by Minnesota Statutes, Section 475.61.
4.04. Levy of Special Assessments. The City hereby covenants and agrees that
for payment of the cost of each of the Improvements it will do and perform all acts and things
necessary for the full and valid levy of special assessments against all assessable lots, tracts and
parcels of land benefited thereby and located within the area proposed to be assessed therefor,
based upon the benefits received by each such lot, tract or parcel, in an aggregate principal
amount not less than twenty percent(20%) of the cost of the Improvements. In the event that
any such assessment shall be at any time held invalid with respect to any lot,piece or parcel of
land, due to any error, defect or irregularity in any action or proceeding taken or to be taken by
the City or this Council or any of the City's officers or employees, either in the making of such
assessment or in the performance of any condition precedent thereto,the City and this Council
hereby covenant and agree that they will forthwith do all such further acts and take all such
further proceedings as may be required by law to make such assessments a valid and binding lien
upon such property. The Council presently estimates that the special assessments shall be in the
aggregate principal amount of$180,900 payable in not more than 15 installments, the first
installment to be collectible with taxes during the year 1999, and that deferred installments shall
bear interest at the rate of not less than six and seven hundredths percent(6.70%)per annum
from the date of the resolution levying said assessment until December 31 of the year in which
the installment is payable.
4.05. Ad Valorem Taxes. The full faith and credit and taxing powers of the City
are irrevocably pledged for the prompt and full payment of the principal of and interest in the
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Bonds as the same become respectively due. For the purpose there is hereby levied upon all of
the taxable property of the City a direct,annual ad valorem tax, which shall be spread upon the
tax rolls prepared in each of the following years and collected with other taxes in the following
years and amounts as follows:
Levy Collection
Year Year Amoun t
1998 1999 $
1999 2000
2000 2001
2001 2002
2002 2003
2003 2004
2004 2005
2005 2006
2006 2007
2007 2008
2008 2009
2009 2010
2010 2011
2011. 2012
2012 2013
The foregoing tax levies are such that if collected in full they will produce at least five percent
(5%) in excess of the amount needed to pay when due the principal of and interest on the Bonds.
This tax shall be irrevocably appropriated to the Bond Fund as long as any of the Bonds are
outstanding and unpaid;provided that the City reserves the right and power to reduce the levies
in the manner and to the extent permitted by Minnesota Statutes,Section 475.61.
4.06. Full Faith and Credit Pledged. The full faith and credit of the City are
irrevocably pledged for the prompt and full payment of the principal of and the interest on the
Bonds, and the Bonds shall be payable from the Bond Fund in accordance with the provisions
and covenants contained in this resolution. It is estimated that the special assessments and ad
valorem taxes levied and to be levied for the payment of the Improvements will be collected in
amounts not less than five percent(5%) in excess of the annual principal and interest
requirements of the Bonds. If the money on hand in the Bond Fund should at any time be
insufficient for the payment of principal and interest then due,this City shall pay the principal
and interest out of any fund of the City, and such other fund or funds shall be reimbursed therefor
when sufficient money is available to the Bond Fund. If on October 1 in any year the sum of the
balance in the Bond Fund plus the amount of taxes and special assessments theretofore levied for
the Improvements and collectible through the end of the following calendar year is not sufficient
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to pay when due all principal and interest become due on all Bonds payable therefrom in said
following calendar year, or the Bond Fund has incurred a deficiency in the manner provided in
this Section 4.06, a direct, irrepealable, ad valorem tax shall be levied on all taxable property
within the corporate limits of the City for the purpose of restoring such accumulated or
anticipated deficiency in accordance with the provisions of this resolution.
Section 5. Defeasance. When any Bond has been discharged as provided in this
Section 5, all pledges, covenants and other rights granted by this resolution to the holders of such
Bonds shall cease, and such Bonds shall no longer be deemed outstanding under this Resolution.
The City may discharge its obligations with respect to any Bond which is due on any date by
irrevocably depositing with the Registrar on or before that date a sum sufficient for the payment
thereof in full; or, if any Bond should not be paid when due,the City may nevertheless discharge
its obligations with respect thereto by depositing with the Registrar a sum sufficient for the
payment thereof in full with interest accrued to the date of such deposit. The City may also
discharge its obligations with respect to any prepayable Bond called for redemption on any date
when it is prepayable according to their terms, by depositing with the Registrar on or before that
date a sum sufficient for the payment thereof in full; provided that notice of the redemption
thereof has been duly given as provided in Section 3.05. The City may also at any time
discharge its obligations with respect to any Bonds, subject to the provisions of law now or
hereafter authorizing and regulating such action, by depositing irrevocably in escrow,with a
bank qualified by law as an escrow agent for this purpose,cash or securities which are authorized
by law to be so deposited, bearing interest payable at such times and at such rates and maturing
on such dates as shall be required,without reinvestment, to pay all principal and interest to
become due thereon to maturity or, if notice of redemption as herein required has been duly
provided for, to such earlier redemption date.
Section 6. County Auditor Registration Certification of Proceedings. Investment
of Money Arbitrage and Official Statement.
6.01. County Auditor Registration. The City Clerk is hereby authorized and
directed to file a certified copy of this Resolution with the County Auditors of Hennepin and
Ramsey Counties, together with such other information as the County Auditors shall require, and
to obtain from said County Auditors a certificate that the Bonds have been entered on his bond
register and the taxes described in Section 4.05 hereof have been levied as required by law.
6.02. Certification of Proceedings. The officers of the City and the County
Auditors of Hennepin and Ramsey Counties are hereby authorized and directed to prepare and
furnish to the Purchaser and to Dorsey& Whitney LLP, Bond Counsel to the City, certified
copies of all proceedings and records of the City, and such other affidavits,certificates and
information as may be required to show the facts relating to the legality and marketability of the
Bonds as the same appear from the books and records under their custody and control or as
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otherwise known to them, and all such certified copies, certificates and affidavits, including any
heretofore furnished, shall be deemed representations of the City as to the facts recited therein.
6.03. Covenant. The City covenants and agrees with the holders from time to
time of the Bonds that it will not take or permit to be taken by any of its officers,employees or
agents any action which would cause the interest on the Bonds to become subject to taxation
under the Internal Revenue Code of 1986,as amended(the "Code"), and Regulations
promulgated thereunder(the Regulations),as such are enacted or promulgated and in effect on
the date of issue of the Bonds, and covenants to take any and all actions within its powers to
ensure that the interest on the Bonds will not become subject to taxation under such Code and
Regulations. The Improvements are public improvements available for use by members of the
general public on a substantially equal basis. The City will not enter into any lease,use
agreement or other contract respecting the Improvements which would cause the Bonds to be
considered "private activity bonds" or"private loan bonds"pursuant to Section 141 of the Code.
For purposes of complying with the requirements of Section 148(f)(4)(C)of the
Code relating to the exemption of certain small governmental units from the rebate requirements
of the Code, the City represents that:
(i) the City is a governmental unit with general taxing powers;
(ii) the Bonds are not"private activity bonds" as defined in Section 141 of the
Code (Private Activity Bonds);
(iii) ninety-five percent of the net proceeds of the Bonds are to be used for the
local governmental purposes of the City; and
(iv) the aggregate face amount of all tax-exempt bonds (other than Private
Activity Bonds) issued by the City in calendar year in which the Bonds are
to be issued is not reasonably expected to exceed$5,000,000.
Therefore, pursuant to the provisions of Section 148(f)(4)(C) of the Code,the City shall not be
required to comply with the arbitrage rebate requirements of paragraphs (2) and (3) of Section
148(f) of the.Code.
6.04. Investment of Money on Deposit in the Bond Fund.
The Finance Director shall ascertain monthly the amount on deposit in the Bond Fund. If the
amount on deposit therein ever exceeds the aggregate amount of principal and interest due and
payable from the Bond Fund through the next following February 1 plus a reasonable carryover
as permitted by the Regulations, such excess shall be used to prepay and redeem Bonds or be
invested at a yield less than or equal to the yield on the Bonds,based upon their amounts,
maturities and interest rates on their date of issue, computed by the actuarial method. The City
-17-
reserves the right to amend the provisions of this Section at any time, whether prior to or after the
delivery of the Bonds, if and to the extent that this Council determines that the provisions of this
Section are not necessary in order to ensure that the Bonds are not "arbitrage bonds" within the
meaning of Section 148 of the Code and Regulations.
6.05. Arbitrage Certification. The Mayor and the City Manager, being the
officers of the City charged with the responsibility for issuing the Bonds pursuant to this
resolution,.are authorized and directed to execute and deliver to the Purchaser a certification in
accordance with the provisions of Section 148 of the Code, and the Regulations, stating the facts,
estimates and circumstances in existence on the date of issue and delivery of the Bonds which
make it reasonable to expect that the proceeds of the Bonds will not be used in a manner that
would cause the Bonds to be arbitrage bonds within the meaning of the Code and Regulations.
6.06. Interest Disallowance. The City hereby designates the Bonds as "qualified
tax-exempt obligations" for purpose of Section 265(b) of the Code relating to the disallowance
of interest expenses for financial institutions. The City represents that in calendar year 1998 it
does not reasonably expect to issue tax-exempt obligations which are not private activity bonds
(not treating qualified 501(c)(3)bonds under Section 145 of the Code as private activity bonds
for purposes of this representation) in an.amount in excess of$10,000,000.
6.07. Official Statement. The Official Statement relating to the Bonds, dated
February 24, 1998,prepared and distributed on behalf of the City by Springsted Incorporated, is
hereby approved. Springsted Incorporated, is hereby authorized of behalf of the City to prepare
and distribute to the Purchaser a supplement to the Official Statement listing the offering price,
the interest rates, other information relating to the Bonds required to be included in the Official
Statement by Rule 15c2-12 adopted by the Securities and Exchange Commission under the
Securities Exchange Act of 1934. Within seven business days from the date hereof,the City
shall deliver to the Purchaser 30 copies of the Official Statement and such supplement. The
officers of the Citrare hereby authorized and directed to execute such certificates as may be
appropriate concerning the accuracy, completeness and sufficiency of the Official Statement.
The officers of the City are hereby authorized and directed to execute such certificates as may be
appropriate concerning the accuracy, completeness and sufficiency of the Official Statement.
Section 7. Continuing Disclosure. The Securities and Exchange Commission-has
promulgated certain amendments to Rule 15c2-12 under the Securities Exchange Act of 1934 (17
C.F.R. § 240.15c2-12) (the "Rule")that make it unlawful for an underwriter to participate in the
primary offering of municipal securities in a principal amount of$1,000,000 or more unless,
before submitting a bid or entering into a purchase contract for the bonds, it has reasonably
determined that the issuer or an obligated person has undertaken in writing for the benefit of the
bondholders to provide certain disclosure information to prescribed information repositories on a
continuing basis or unless and to the extent the offering is exempt from the requirements of the
Rule.
-18-
The principal amount of the Bonds is less than$1,000,000. The City hereby
represents that it has not issued within the six months before the date of issuance of the Bonds,
and that it reasonably expects that it will not issue within six months after the date of issuance of
the Bonds, other securities of the City of substantially the same security and providing financing
for the same general purpose or purposes as the Bonds. .Consequently,this Council hereby finds
that the Rule is inapplicable to the Bonds,because the aggregate principal amount of the Bonds
and any other securities required to be integrated with the Bonds thereunder is less than
$1,000,000. Therefore,the City will not enter into any undertaking to provide continuing
disclosure of any kind with respect to the Bonds.
Mayor
Attest:
City Clerk
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The motion for the adoption of the foregoing resolution was duly seconded by
Councilmember , and upon vote being taken thereon,the following voted in favor
thereof:
.and the following voted against the same:
whereupon said resolution was declared duly passed,and adopted,and was signed by the Mayor
which signature was attested by the City Clerk.
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1 �
MEMORANDUM
DATE: February 11, 1998
TO: Michael Morrison, City Manager
FROM: Connie Kroeplin, City Clerk
ITEM: PROPOSED POLLING LOCATION CHANGE - RAMSEY
COUNTY
Jay Hartman and I met at Chandler Place with Judy Miller. She showed us a
room which Jay and I felt would be large enough to use as a voting location.
The polling location is accessed off Chandler Drive and the door to enter is off
the parking lot behind Chandler Place. We will sign it in several places. There
is good disability accessibility and our concerns about parking appear to be
solved. Chandler Place employees will park elsewhere on election days.
As voters enter, there is a foyer-like entry, carpeted, and the room is off the
large foyer. There are two doors to the room, one for entry and one for
leaving. There is also a small alcove for the judges to eat. Restrooms are
nearby.
I have attached a draft copy of a letter of confirmation'I intend to send to Ms.
Miller as soon as the Council approves the required resolution (draft copy
attached). The registered voters in Ramsey County will be notified thereafter. I
will also have an article in the Newsletter, as we did the last time.
CITY OF ST. ANTHONY
RESOLUTION 98-033
A RESOLUTION APPROVING A POLLING
LOCATION CHANGE
WHEREAS, voters residing in the Ramsey County portion of the City of St. Anthony
(Ramsey County, Precinct 1) voted at the Public Works Storage Garage
in the previous election; and
WHEREAS, said location proved to be unsatisfactory for several reasons; and
WHEREAS, after consideration of available locations, it has been determined that the
most favorable polling location is located in Chandler Place, 3701
Chandler Drive; and
WHEREAS, said location is in compliance with Minnesota Statutes.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of St.
Anthony hereby approves relocation of the polling place for Ramsey County Precinct 1
voter to Chandler Place, 3701 Chandler Drive, in the City of St. Anthony and the
County of Ramsey.
Adopted this day of, .1998.
Mayor
ATTEST:
City Clerk
Reviewed for administration:
City Manager
FOSTER. WENTZ E]L]L, H EDPAC K PR EV ER, ]L]LC
ATTORNEYS AT LAW
THOMAS E. BREVER SUITE 201 ANTHONY PLACE
JOHN A. HEDBACK 2855 ANTHONY LANE SO.
JOSEPH A. WENTZELL' ST. ANTHONY, MN 55418
ROBERT J. FOSTER
PEC�GY J. HEDBACK TELEPHONE: (612) 789-1331
LESLIE M. WITTERSCHEIN FAx: (612) 789-2109
E-MAIL: fwhb@fowb-law.com
"ALSO ADMITTED IN TEXAS
of COUNSEL: February 16 1998
SARAH MARTIN ARENDT ry
STEVEN P. CARLSON
G. MARTIN JOHNSON
PERSONAL AND CONFIDENTIAL
Mr. Michael Morrison, City Manager
City of St. Anthony
3301 Silver Lake Road
St. Anthony, MN 55418
RE: Prosecution Contracts -City of St. Anthony
Dear Mike:
Pursuant to our recent conversations,this letter will be our formal application for the firm of Foster,
Wentzell, Hedback& Brever, LLC to renew the contract for prosecution services with the.City of St.
Anthony. In discussing this matter with my partners, we have agreed that our fee for those prosecutions
will remain the same at$3,000.00 per month.
Our one concern in keeping the contract at$3,000.00 per month was the recent change for 1998 in the
enforcement of the new DWI laws. 1 have had Leslie Witterschein draft a memorandum that should be
included in the packet to the Council regarding those changes. Specifically,there has been a change in
the seizure and forfeiture laws. In summary,the change has the potential to increase the number of cars
that are seized for repeat DWI violations. This seizure and forfeiture is an administrative procedure that
our office has not been asked to handle before 1998. We are concerned that the seizure activity will
become burdensome. However,through the middle of February,there have been no seizures year to date.
Finally, I have enclosed a memorandum from Steve Carlson which reviews statistics for 1997: We have
attempted to quantitify the amount of revenue received on cases handied by our office and compare it to
revenue receipt from other municipalities in Hennepin County.
If you have any questions regarding any of this information,please feel free to contact me. It is my intent
to be at the City Council meeting on March 10, 1998 at 7:00 p.m. I will also bring Leslie to that meeting.-
Leslie will be on maternity leave for two-three months commencing about April 15, 1998..
Sincer 011 ,
obert . Foster
:dk
enclosures
MEMORANDUM
Date: February 4, 1998
From: Steve Carlson
To: Mike Morrison
Subject: 1997 Year-end Prosecution,Summary
Mike, I thought it might be helpful to provide you with a summary of the prosecution
services provided by the firm in 1997
We handled a total of 709 cases in court on behalf of the City of St. Anthony. These cases
generated fines and prosecution costs totalling $39,935.00. This is'an average of $56.33 per
case in fines costs imposed by the Court. Note that this is the average for all cases, not just
convictions. If we limit the survey to pleas and convictions only, the average increases to
$158.47.
I have compared these numbers to the data provided by the Hennepin Count District Court.
The total number of all citations and counts issued out of the City of St. Anthony in 1997
was 2,474. These citations and counts generated gross revenue of $77,892.04. This is an
average gross revenue of $31.48 per citation and count. This compares to the average gross
revenue per citation and count for all of Hennepin County of $19.66 and $14.75 for the City
of Minneapolis.
It is significant to'note that despite St. Anthony being the only suburb to have its cases heard
at the Government Center, and despite the constant pressure from Public Defenders and the
Judges to keep in line with "how Minneapolis handles cases", the average of fines and costs
generated by our in-court appearances is nearly double that of all citations and counts from
St. Anthony and is significantly higher than the County average and the average for the City
of Minneapolis.
In 1997 our office also drafted 78 formal complaints. The average turn around time from
when the request for the complaint was received in our office to when it was available to be
picked up by the Police Department was 1.63 days. We are confident that a turn around time
this quick is virtually unheard of in any other municipality. We are very proud of our
efficiency and the progress we've made in this regard.
MEMORANDUM
TO: Mike Mornson
FROM: Leslie Witterschein
DATE: February 13, 1998
RE: DWI law changes
Mike, as Bob and I were discussing our application for the 1998 prosecution contract, we
thought you would be interested in how the latest DWI laws will affect the City of St. Anthony
and our anticipated representation of the city in court.
First, and most importantly, is that the new changes in the law will definitely increase the
amount of time that a case is in the system. Accordingly,the hours spent by our office on St.
Anthony matters will also increase. For example, the new laws create a new level of offense they
have called an enhanced gross misdemeanor. Corresponding to the new offense, are several
mandatory penalties, including significant jail time and long-term monitoring,which will be very
expensive for the individual. As such, and because of the constitutional issues involved in the
new laws, attorneys will be much less likely to plead their clients,regardless of the nature of the
evidence against them. Further complicating this problem is the new intoxilyzers, which have
had some problems. Thus, defense attorneys are eager to challenge the validity of any test.
In addition, after speaking with John Ohl regarding the seizure and forfeiture laws
relating to the new DWI law, we agreed to handle the administrative procedures for the city on a
trial basis. So far, we have had no vehicles seized. Although I do not anticipate that this will
cause a significant impact on our caseload; we are at this point unable to determine what effect, if
any,this provision will have on St. Anthony.
Even though these new laws may have impacts that no legislator anticipated, we will not
allow this to affect the zealousness of our representation. We thought,however, that you would
be interested in knowing how we anticipate the effects on these laws in the disposition of cases in
St. Anthony over the next year.
MEMORANDUM
DATE: January 21, 1998
TO: Mike Mornson, City Manager
FROM: Roger Larson, Finance Director
ITEM: MIS CONSULTANT REVIEW
Attached is the final RFP for MIS Consulting Service's for the computer upgrade. A
review of the proposals is as follows:
1) LDSI $8,200.00 (82 hours)
Pro's:
1) Highly recommended by the League of Minnesota Cities.
2) They do not sell hardware nor are they affiliated with
a hardware company.
3) Low bid with a not to exceed clause in their proposal.
Con's:
1) Oversold their abilities at the Council Meeting.
2) Focused too much on hardware issues.
2) GE Capital $11,400 (120 hours)
Pro's:
1) GE has worked with several governmental units including
Cities, Schools and State Government.
2) They have extensive experience with network applications.
3) Their proposal is well organized and representatives from GE
focused clearly on the task at hand.
Con's:
1) They have a hardware-related division and could use their
consulting position to promote hardware sales.
2) This company has a history of high turnover in personnel.
3) Business Records $16,800 (140 hours)
Pro's:
1) The;City has a long-standing relationship with this company.
(We are using their financial, payroll and utility billing
software).
2) They provide software services to many Cities and Counties
and thus have exposure to many different computer
environments.
3) Their support staff is very good and are excellent problem
solvers and communicators.
Con's:
1) They have a hardware-related division and could use there
consulting position to promote Dell Computers.
2) Located out of the Metro Area. Often times they want mileage
and travel related expenses.
MEMORANDUM
DATE: March 5, 1998
TO: Mike Mornson, City Manager
FROM: Dick Johnson, Fire Chief
ITEM: FIRE TRUCK BIDS
We have evaluated the three bids and I am making the following
recommendations:
The low bid ($207,272) from Central States should be rejected because they do
not meet'our specs nor do they meet our needs in terms of compartment space
and electrical/lighting capabilities.
• The high bid ($244,283) from Custom Fire should be rejected because it is more
than we can afford to spend.
The other bid ($226,190) from Toyne does meet all of our needs and actually
exceeds our specifications. Toyne also offers,options which are acceptable and
will reduce the cost by several thousand dollars. Consequently, Toyne can
provide us with an acceptable pumper which will cost us no more than $221,000.
These costs, of course, include the cost of the cab/chassis from Ford, which is
scheduled for delivery in June.
CENTRAL STATES FIRE APPARATUS
Lyons, South Dakota
Phone: 1-605-543-5591
Fax: 1-605-543-5593
Revision 10/08/96 -
02 / 26 / 98 Prepared For Heiman Fire Equipment ate _ __ __ _ Steve & Grant p q p
_1500_ GPM UL Certified Midship Pumper Specifications
DEPARTMENT: CITY OF ST. ANTHONY
ADDRESS: c/o City Clerk St Anthony City Hall 3301 Silver Lake Road
CITY: St. Anthony STATE: Minn. Zip: _55418_
Chief: Richard Johnson Work Phone(612)788-4885
Chassis Make: Sterling_(Ford) Model: L9513
Engine:—DD Series 60 Transmission:_HD4050P CR Cab to Axle:-168"
YES –10–% Bid Bond
(:Please note that we are taking total exception to your specifications.
• Maximum Height of Completed Unit - 120"
Maximum Length of Completed Unit - 32'8"
INDEX to Specifications:
Section No. 1 Fire Pump
Section No. 2 Master Steamer Suction Inlets.
Section No. 3 Gated Suction Inlets, Discharges, & Preconnects
Section No. 4 Booster Tank Valves & Piping
Section Mo. 5 Booster Tank
Section No. 6 Pump Operator's Control Panel
Section No. 7 Instrument Panel
Section No. 8 Hose Body Compartments
Section No. 9 Apparatus Body & Components
Section No. 10 Apparatus Body Compartments
Section No. 11 Running Boards, Walkways, Rear step, & Trim
Section No. 12 Grab Rails, Handrails, and Steps
Section No. 13 Ground Ladders, Hard Suction, and Pike Poles
Section No. 14 Electrical Equipment & Battery System
Section No. 15 Fuel System
Section No. 16 Emergency Signal & Lighting Equipment
Section No. 17 Generator, Load Centers, & Receptacles
Section No. 18 Painting, Decorating, Lettering, & Signs
Section No. 19 Crew Enclosures
Section No. 20 Chassis Modifications & Miscellaneous
• Section No. 21 Required Loose Equipment Supplied by Body Builder.
Section No. 22 Miscellaneous Loose Equipment Supplied by Body Builder.
Section No. 23 Loose Equipment Supplied by Dealer.
MEMORANDUM .
DATE: February 18, 1998
TO: Mike Mornson, City Manager
FROM: Roger Larson, Finance Director
ITEM: FIRE TRUCK FUNDING
During the 1998 budgeting process, the City Council tentatively approved the purchase
of a new fire truck at a cost of$225,000.00. The funding is scheduled to come out of
the Revolving Fund #509.
The cash on hand available for the expenditure has been accumulated over a period of
years by transferring general fund reserves (created by revenues exceeding
expenditures) to the Revolving Fund.
MEMORANDUM
DATE: February 27,1998
TO: Mike Mornson, City Manager
FROM: Dick Johnson, Fire Chief
ITEM: FIRE PUMPER BIDS
The bids have been open and they are as follows:
Central States Fire - - 207,272
Toyne Apparatus - $226,190
Custom Fire Apparatus - $2441283
A preliminary inspection of the specs indicates that Central States does meet our-
requirements.
MEMORANDUM
DATE: February 25, 1998
TO: Mike Mornson, City Manager
FROM: Roger Larson, Finance Director
ITEM: WATER RATE SURVEY
As part of the analysis of the proposed 1998 water rate increase, staff perfomed a
survey of water rates of other communities. To conduct the survey, I used the DCA
Stanton Survey listing to find Cities that are relatively the same size as St. Anthony.
The results are as follows:
1) Ramsey $ .95
2) Fridley $1.00
3) Spring Lake Park $1.00
4) St. Anthony $1.00 (Proposed)
5) Blaine $1.00 - $1.30 for over $100,000 gallons
6) Columbia Heights $1.01
7) Moundsview $1.05
A Robbinsdale $1.07
9) Hopkins $1.10
10) Richfield $1.10
11) Roseville $1.25
MEMORANDUM
DATE: February 4, 1998
TO: Mike Morrison, City Manager
FROM: Roger Larson, Finance Director
ITEM: 1998 WATER/SEWER RATES
The Public Works Director has submitted a 1998 water budget of $389,800 and a sewer budget
of$690,400.
Based on the approval of those budgets, I have completed an analysis to determine if a rate
increase is necessary to balance these operating budgets. The results are as follows:
Water:
In 1998, it is anticipated that St. Anthony will sell 41,000,000 cubic feet of water. Calculating
the estimated 1998 water sales (41,000,000 divided by 100 x $ .94) shows a total income of
$385,400.
Expenditures of $389;800 plus the water filtration levy transfer of $15,200 requires revenues to
total $405,000. Based on estimated water sales of.$385,400 a deficit of ($19,600) exists and a
rate increase is necessary to balance the water-operating budget.
Recommendation:
The present rate of $.94 per 100 cubic feet is not sufficient to balance the 1998 water
operating-budget. Projected expenditures exceed revenues by ($19,600), therefore, staff
recommends ammending ordinance 610.02 to reflect a rate increase of$ .06 cents per 100cf.
(41,000,000 divided by 100 X $ 1.00 = $ 410,000)
Sewer:
Currently, sanitary sewer disposal costs the residents $1.72 per 100 cubic feet. Based on Metro
Waste's estimate of flowage, disposal costs for '98 will be significantly higher than last year.
In 1998, Metro Sewers charges will be based on 360,000,000 gallons of sanitary waste for a total
disposal cost of$486,000 compared to last year's payment of$383,200 (Up $102,800).
It is estimated that the City will sell 37,500,000 cubic feet of sewer in 1998. Calculating the
estimated 1998 sewer revenue (37,500,000 divided by 100 X $1.72) shows a total income of
$645,000.
Projected expenditures of $690,400 produces a deficit of ($45,400) and an increase is necessary
to balance the operating budget. A rate increase of$ .12 cents per 100cf is necessary to fund the
1998 sewer operating budget.
(37,500,000 divided by 100 X $1.84 = $690,000)
In 1988, the City Council passed an ordinance relating to sewer rates and charges. It reads that
all sewer charges shall be'at the rate of $1.20 per hundred cubic feet of water used plus a Metro
Waste surcharge as determined by the following formula:
Metro Waste Rate Surcharge Formula
X = .88Y -$.88 + F
$315,000
X = Surcharge per 100 cubic feet
Y = Metro Waste charges for calendar year ($486,000 in '98)
F = Inflationary Factor to Balance Budget ($.16 cents in '98)
This formula allows for changes in the sewer rates without ammending the ordinance. The
rate increase is handled administratively and requires no Council Action.
Average Bill:
2400 ccf of water
2100 ccf of sewer
Increase
1997 1998 Per Quarter
Water $ 22.56 $ 24.00 $ 1.44
Sewer $ 36.12 $ 38.64 2.52
$ 3.96
$15.84 Annual
INFLOWS INTO THE SYSTEM:
Estimated Disposal 360,000,000 Gallons
Estimated Sales 281,250,000 Gallons
78,750,000
CITY OF ST. ANTHONY
ORDINANCE 1998-005
AN ORDINANCE RELATING TO WATER RATES,
AMENDING SECTION 610.02 OF THE 1993
ST. ANTHONY CODE OF ORDINANCES
The City Council of the City of St. Anthony hereby ordains:
Section 1. Section 610.02 is amended to read as follows:
610.02 Water Rates. Water bills will be computed quarterly based on metered
water used at the rate of$1.00 per 100 cubic feet or any fraction thereof.
Section 2. This ordinance shall be in effect as of the date of its publication.
First Reading: February 10, 1998
Second Reading: February 24, 1998
Adopted:
Mayor
ATTEST:
City Clerk
Published in the St. Anthony Bulletin:
CITY OF ST. ANTHONY
HOUSING AND REDEVELOPMENT AUTHORITY AGENDA
MARCH 10, 1998
I. CALL TO ORDER.
II. ROLL CALL.
III. APPROVAL OF MARCH 10, 1998 H.R.A. AGENDA.
IV. APPROVAL OF FEBRUARY 10, 1998 H.R.A. MINUTES.
V. CLAIMS.
A. Auditor
1. Stuart Bonniwell - $1,415.00
B. BRW Comprehensive Plan- $113.97
B. Firstar Bank Fiscal Agent Fees
1. Apache Plaza- $187.00
2. Walbon- $191.50
VI. 'OTHER BUSINESS
VII. ADJOURNMENT
1 CITY OF ST.ANTHONY
HOUSING AND REDEVELOPMENT AUTHORITY MEETING MINUTES
FEBRUARY 10, 1998
4 I. CALL TO ORDER/ROLL CALL.
5 . The.meeting was called to order at 7:57 P.M.
6 II. ROLL CALL.
7 Commissioners Present: Chair Ranallo, Secretary Marks, and Commissioners Cavanaugh
8 and Thuesen.
9 Also Present: Executive Director Michael Momson and City Attorney Jerry Gilligan.
10 Commissioners Absent: Vice-Chair Faust.
11 III. APPROVAL OF FEBRUARY 10, 1998 HRA AGENDA.
12 Motion by Marks, second by Cavanaugh to approve the February 10, 1998 HRA Agenda
13 as presented.
14 Motion carried unanimously.
15 IV. APPROVAL OF JANUARY 13, 1998 HRA MINUTES.
1.6 Motion by Marks, second by Thuesen to approve the January 13, 1998 HRA minutes as
17 presented.
Motion carried unanimously.
19 V. PRESENTATION OF CLAIMS.
20 Motion by Marks, second by Thuesen to approve the following claims:
21 A. Repayments of Tax Settlement:
22 1. Hennepin County Treasurer in the amount of$23.82 for the negative
23 balance in the December 1997 settlement.
24 B. City Hall/Community Center:
25 1. Will Associates, Inc. in the amount of$6,000.00 for
26 architectural services rendered October 27, 1996 through December 28,
27 1997.
28. C. Payments to Developers:
29 1. Central Investment Corporation in the amount of$12,500.00 for
30 Nedegaard Construction Company, Lot 8,Block 1,The Village
31 Commons.
32 D. Agent Fees for City Hall/Community Center:
33 1. Sningsted Incorporated in the amount of$200.00 for continuing disclosure
34 reporting services$1,770,000 General Obligation Tax Increment Bonds,
35 Series 1996A.
36 E. Legal:
1. Dorsey& Whitney in the amount of$266.00 for legal services rendered
through December 31, 1997.
39 Motion carried unanimously.
Housing and Redevelopment Authority Meeting Minutes
February 10, 1998
is Page 2
1 VI. ALAN CHAZIN HOMES, INC. REDEVELOPMENT AGREEMENT (HRA
2 RESOLUTION 98-001).
3 Motion by Thuesen, second by Cavanaugh to approve Resolution 98-001, approving
4 execution and delivery of redevelopment agreement with Alan Chazin Homes, Inc.
5 City Attorney Jerry Gilligan stated he had reviewed and did approve of the
6 Redevelopment Agreement.
7 Momson reported a payment of$30,000 TIF Funds will be made upon certificate of
8 occupancy of all four units. A deadline of May 1, 1999,has been imposed in the
9 agreement.
10 Motion carried unanimously.
11 VII. OTHER BUSINESS.
12 Momson reported the business located at 2917 Anthony Lane is looking into possible
13 expansion.
14 Cavanaugh asked if the City could join with Rice Creek Watershed and apply pressure to
Freedom Valu Center to come into compliance with the drainage issues.
16 Mr. Gilligan stated that there are ways that the City can apply pressure for compliance.
17 City Manager stated he will draft a letter asking for cooperation. He will forward that
18 letter to the Silver Lake Homeowners Association to pass onto the residents of Silver
19 Lake.
20 Thuesen questioned the issues at the site.
21 Momson explained that Freedom Valu Center stated that due to the grades and elevations
22 of the site it was not feasible to drain 100%to the ponds. They admit they did not contact
23 Rice Creek Watershed and 67% of drainage is to the ponds and 33% is to Silver Lake
24 Road.
25 VIII. ADJOURNMENT.
26 Motion by Marks, second by Cavanaugh to adjourn the meeting at 8:07 P.M.
27 Motion carried unanimously.
28 Respectfully submitted,
4 Lorri Kopischke
30 Timesaver Off Site Secretarial, Inc.
STUART I BONNIWELL
Certified Public Accountant -
10201 Wayzata Blvd.-Suite 235 Office:(612)545-1522
Minneapolis,MN 55305 The CPA.Ne.M UnOereSUmale The VaWe'.' Fax: (612)545-8891
December 1 , 1997
Mr. Roger A. Larson, Sr.
Finance Director
Housing and Redevelopment Authority of St. Anthony
3301 Silver Lake Road
St. Anthony, Minnesota 55418
Professional Services Rendered:
Audit and preparation of financial report of the
Housing and Redevelopment Authority of St. Anthony
for the year ended December 31 , 1996, including
1. Analyze investment activity, reconcile activity
to investment schedules and general ledger;
determine accreted interest amounts.
2. Analyze tax settlements and other revenues and
allocate revenues among projects.
3. Review construction costs incurred related to
the Community Center project. Review City's
contribution to the project as required by the
bond indenture.
4. Review lease agreement with School District.
Assist in establishing appropriate accounting
procedures Io properly record lease payments.
5. Analyze transactions with Cub Foods related to
Apache tax increment finance district.
6. Analyze bond payments, assistance/subsidy pay-
ments to developers and other expenditures and
allocate among projects.
7. Update accounting records and supporting sche-
dules maintained by project for current year
activities.
8. Discuss with management available funding sources
to finance future initiatives and other- financial
matters related to Authority activities.
Assist in preparation of state reporting forms for each
of the tax increment finance districts. $2,915.00
Less progress billing (1 ,500.00)
Balance Due $1 ,415.00
BRW
"A DAMES&MOORE GROUP COMPANY
700 THIRD STREET SOUTH, MINNEAPOLIS, MN 55415** (612)370-0700
** INVOICE **
FEBRUARY 6, 1998
MR. MICHAEL MORNSON BRW JOB #4161
CITY MANAGER CITY OF ST. ANTHONY
CITY OF ST. ANTHONY COMPREHENSIVE PLAN
3501 SILVER LAKE ROAD
ST. ANTHONY, MN 55415
PLEASE INCLUDE) ----------------
ON REMITTANCE ) --> INVOICE NUMBER : 267 -03260
----------------
ACCOUNT NUMBER 35185-001-267
TAX PAYERS I.D. NO. 41-1625272
---------------------=---------------7------------------------------------------
CITY PLANNING
ORIGINAL 'CONTRACT:AMOUNT: $39,385.00
*PARK DESIGN ADDENDUM Not: $7,500.00
*PARK DESIGN ADDENDUM Not: $2,500.00
***TOTAL BUDGET: $49,385.00
AMOUNT REMAINING: $113 .97
PERIOD COVERING 11/29/97 THROUGH 01/30/98 US$ US$
Current JTD Cum
PROFESSIONAL SERVICES RENDERED 2,747.19 46,771.13
SERVICES:
*PREPARE REVISIONS AND ADDITIONS TO THE COMPREHENSIVE PLAN TO SATISFY METROPOLITAN
COUNCIL REQUIREMENTS. .
*ATTEND MEETINGS OF PARKS ADVISORY COMMITTEE AND REVISE.CENTRA.L PARK DESIGN.
. : Gv,
s=:' PROGRESS: BILLING ~ ,
PLEASE REMIT TO:
::._. "--:':-BRW, INC. , FILE: 54967, LOS ANGELES, CA 90074-4967
-----------------------------------------------------------------------------
THIS INVOICE IS DUE AND PAYABLE UPON PRESENTATION
Offices WoddWde
— --- --- ----------- ---
INVOICE
FIRS�'�_R 277345
CORPORATE TRUST =SERVICES . 1
PIO: BOX2077 ,
MILNAUKEE.. HI 53201 INVOICE- NUMB-ER 43
2078726000..
DATE OF INVOICE ACCOUNT NUMBER PERIOD CODE
02/06/1998 80-49602 . PRIOR FEE , INVOICE . 02/07/1997;. 602C
CITY , OF . ST . ANTHONY. ADMINISTRATOR
ROGER -- LARSON:FINANCE. DIRECTOR - MEIERP LORI.
33019SILVER -LAKE RD 414-287-3900
ST _ ANTHONY MW 55418
•
ISSUE DESCRIPTION ST -ANTHONY- 1996A (TAXABLE) -
G.O. TAX= INCREMENT...BOND
DATED .7--!-1-96.-
CATEGORY. NUMBER IN CATEGORY . RATE- BILLED AMOUNT .
ADMINISTRATIVE $175.00 .
TOTAL: FEES $175.00 .
OUTGOING° WIRES` $12000
TOTAL: EXPENSES' $12.00
Q�Acs(L
TOTAL FUNDS OUE . $187.00
* =MIN/FLAT RATE
ALL 4 AMOUNTS , ARE . PAYABLE ;UPON:RECEIPT:OF THIS: INVOICE. :PLEASE RETURN_PINK .
COPY:°MITHI.YOUR ° PAYMENT. _
CUSTOMER ORIGINAL
------------------ -- --- -- - -- -- -----INVOICE •._. -
FIRST�A-R 252272
CORPORATE ° TRUST SERVICES 1
P . 0 ' 80X- 2077_
MILWAUKEE WI 53201 INVOICE NUMBER: 40
2078726000
DATE OF INVOICE ACCOUNT NUMBER PERIOD CODE
02/06/1998 . 80-49071 PRIOR, FEE INVOICE 08/07/1997 071C .
CITY: OF ; ST.-.ANTHONY ' ADMINISTRATOR .
ROGER,.LARSON . FINANCE- DIRECTOR MEIER, LORI :
- 3301 SILVER .LAKE RD 414-287-3900.
ST .ANTHONY. MN 55418
•
ISSUE . DESCRIPTION ST...ANTHONY . MN 94A •
GO TAX: INCREMENT REF BONDS
DATED 1-1-94
SPRINGSTED CONSULTANT'
CATEGORY: NUMBER IN CATEGORY RATE . BILLEDAMOUNT .
ACTIVE SECURITYHOLDERS ' 3. 1.0000 $100000.
CERTIFICATES PAID 7 3.0000 $50.00. *
CERTIFICATES CREMATED 6. 00100 . $35.00
TOTAL�FEES $185.00
POSTAGE $.50
OUTGOING-WIRES . 56.00
TOTAL EXPENSES $6.50 .
W P►r~.o o�
TOTALS FUNDS: DUE . $191450_
* :MIN/FLATlRATE
ALL�AMOUNTSfARE PAYABLE :.UPON RECEIPT.OF, THIS. INVOICE.. .PLEASE: RETURN: PINK,
. COPY:•WITH: YOUR PAYMENT:
CUSTOMER ORIGINAL
OFFICIAL STATEMENT DATED FEBRUARY 24, 1998
Rating: Requested from Moody's
NEW ISSUE Investors Service
In the opinion of Dorsey& Whitney LLP, Bond Counsel, on the basis of laws in effect on the date of issuance of the Bonds, interest on
the Bonds is not includable in the gross income of the recipient for federal income tax purposes and in taxable net income of
individuals, estates and trusts for Minnesota income tax purposes, but is includable in taxable income of corporations and financial
institutions for purposes of the Minnesota franchise tax. (See "Tax Exemption"herein.)
$725,000
City of St. Anthony, Minnesota
General Obligation Improvement Bonds, Series 1998A
(Book Entry Only)
Dated Date: April 1, 1998 Interest Due: Each February 1 and August 1,
commencing February 1, 1999
The Bonds will mature February 1 as follows:
2000 $10,000 2003 $40,000 2006 $45,000 2009 $55,000 2012 $60,000
2001 $40,000 2004 $45,000 2007 $50,000 2010 $55,000 2013 $65,000
2002 $40,000 2005 $45,000 2008 $50,000 2011 $60,000 2014 $65,000
Proposals for the Bonds may contain a maturity schedule providing for any combination of serial bonds and
term bonds, subject to mandatory redemption, provided that no serial bond may mature on or after the first
mandatory sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory
redemption and must conform to the maturity schedule set forth above.
The City may elect on February 1, 2006, and on any day thereafter, to prepay Bonds due on or after
February 1, 2007 at a price of par plus accrued interest.
The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power
to levy direct general ad valorem taxes. In addition, the City will pledge special assessments levied against
benefited property. The proceeds will be used for various improvement projects within the City.
Proposals shall be for not less than $715,575 and must be accompanied by a good faith deposit in the form of
a certified or cashier's check or a Financial Surety Bond in the amount of $7,250, payable to the order of the
City. Rates shall be specified in integral multiples of 5/100 or 1/8 of 1% and must be in ascending order. The
Bonds will be awarded on the basis of True Interest Cost (TIC).
The Bonds will be bank-qualified tax-exempt obligations pursuant to Section 265(b)(3) of the Internal Revenue
Code of 1986, as amended, and will not be subject to the alternative minimum tax for individuals.
The Bonds will be issued as fully registered bonds without coupons and, when issued, will be registered in the
name of Cede & Co., as nominee of The Depository Trust Company ("DTC"). DTC will act as securities
depository of the Bonds. Individual purchases may be made in book entry form only, in the principal amount
of $5,000 and integral multiples thereof. Purchasers will not receive certificates representing their interest in
the Bonds purchased. (See "Book Entry System" herein.) Firstar Bank of Minnesota, N.A. will serve as the
Registrar. Bonds will be available for delivery at DTC within 40 days after award.
PROPOSALS RECEIVED: March 10, 1998 (Tuesday) until 12:00 Noon, Central Time
AWARD: March 10, 1998 (Tuesday) at 7:00 P.M., Central Time
Further information may be obtained from SPRINGSTED
S PR I N G ST ED Incorporated, Financial Advisor to the Issuer, 85 East
Public Finance Advisors Seventh Place, Suite 100, Saint Paul, Minnesota
55101-2887(612)223-3000
For purposes of compliance with Rule 15c2-12 of the Securities and Exchange Commission,
this document, as the same may be supplemented or corrected by the Issuer from time to time
(collectively, the "Official Statement"), may be treated as an Official Statement with respect to
the Obligations described herein that is deemed final as of the date hereof (or of any such
supplement or correction) by the Issuer, except for the omission of certain information referred
to in the succeeding paragraph.
The Official Statement, when further supplemented by an addendum or addenda specifying the
maturity dates, principal amounts and interest rates of the Obligations, together with any other
information required by law, shall constitute a "Final Official Statement" of the Issuer with
respect to the Obligations, as that term is defined in Rule 15c2-12. Any such addendum shall,
on and after the date thereof, be fully incorporated herein and made a part hereof by reference.
By awarding the Obligations to any underwriter or underwriting syndicate submitting a Proposal
therefor, the Issuer agrees that, no more than seven business days after the date of such
award, it shall provide without cost to the senior managing underwriter of the syndicate to which
the Obligations are awarded copies of the Official Statement and the addendum or addenda
described in the preceding paragraph in the amount specified in the Terms of Proposal.
The Issuer designates the senior managing underwriter of the syndicate to which the
Obligations are awarded as its agent for purposes of distributing copies of the Final Official
Statement to each Participating Underwriter. Any underwriter delivering a Proposal with
respect to the Obligations agrees thereby that if its bid is accepted by the Issuer (i) it shall
accept such designation and (ii) it shall enter into a contractual relationship with all Participating
Underwriters of the Obligations for purposes of assuring the receipt by each such Participating
Underwriter of the Final Official Statement.
No dealer, broker, salesman or other person has been authorized by the Issuer to give any
information or to make any representations with respect to the Obligations, other than as
contained in the Official Statement or the Final Official Statement, and if given or made, such
other information or representations must not be relied upon as having been authorized by the
Issuer. Certain information contained in the Official Statement and the Final Official Statement
may have been obtained from sources other than records of the Issuer and, while believed to
be reliable, is not guaranteed as to completeness or accuracy. THE INFORMATION AND
EXPRESSIONS OF OPINION IN THE OFFICIAL STATEMENT AND THE FINAL OFFICIAL
STATEMENT ARE SUBJECT TO CHANGE, AND NEITHER THE DELIVERY OF THE
OFFICIAL STATEMENT OR THE FINAL OFFICIAL STATEMENT NOR ANY SALE MADE
UNDER EITHER SUCH DOCUMENT SHALL CREATE ANY IMPLICATION THAT THERE HAS
BEEN NO CHANGE IN THE AFFAIRS OF THE ISSUER SINCE THE DATE THEREOF.
References herein to laws, rules, regulations, resolutions, agreements, reports and other
documents do not purport to be comprehensive or definitive. All references to such documents
are qualified in their entirety by reference to the particular document, the full text of which may
contain qualifications of and exceptions to statements made herein. Where full texts have not
been included as appendices to the Official Statement or the Final Official Statement, they will
be fumished on request.
TABLE OF CONTENTS
Page(s)
Termsof Proposal ............................................................................................................ i-iv
Scheduleof Bond Years ................................•--............................................................... v
Introductory Statement ..................................................................................................... 1
ContinuingDisclosure....................................................................................................... 1
TheBonds........................................................................................................................ 2-3
Authorityand Purpose ...................................................................................................... 4
Securityand Financing ..................................................................................................... 4
FutureFinancing............................................................................................................... 4 :r.
Litigation........................................................................................................................... 4
Legality............................................................................................................................. 4
TaxExemption.................................................................................................................. 5
Bank Qualified Tax-Exempt Bonds................................................................................... 5
Rating............................................................................................................................... 6
FinancialAdvisor.............................................................................................................. 6
Certification....................................................................................................................... 6 ,
CityProperty Values......................................................................................................... 7-8
CityIndebtedness............................................................................................................. 8-10
City Tax Rates, Levies and Collections..................
Fundson Hand................................................................................................................. 11
Investments...................................................................................................................... 11-12
General Information Concerning the City.......................................................................... 12-13
Governmental Organization and Services......................................................................... 13-15
Proposed Form of Legal Opinion ............................................................................ Appendix
Summary of Tax Levies, Payment Provisions, and
Minnesota Real Property Valuation ...................................................................... Appendix II
Selected Annual Financial Statements .................................................................... Appendix III
ProposalForms ...................................................................................................... Inserted
(This page was left blank intentionally.)
THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS
ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS:
TERMS OF PROPOSAL
$725,000
CITY OF ST. ANTHONY, MINNESOTA
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1998A
(BOOK ENTRY ONLY)
Proposals for the Bonds will be received on Tuesday, March 10, 1998, until 12:00 Noon,
Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint
Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award
of the Bonds will be by the City Council at 7:00 P.M., Central Time, of the same day.
SUBMISSION OF PROPOSALS
Proposals may be submitted in a sealed envelope or by fax (612) 223-3002 to Springsted.
Signed Proposals, without final price or coupons, may be submitted to Springsted prior to the
time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal
price and coupons, by telephone (612) 223-3000 or fax (612) 223-3002 for inclusion in the
submitted Proposal. Springsted will assume no liability for the inability of the bidder to reach
Springsted prior to the time of sale specified above. Proposals may also be filed electronically
via PARITY, in accordance with PARITY Rules of Participation and the Terms of Proposal,
within a one-hour period prior to the time of sale established above, but no Proposals will be
received after that time. If provisions in the Terms of Proposal conflict with the PARITY Rules
of Participation, the Terms of Proposal shall control. The normal fee for use of PARITY may be
obtained from PARITY and such fee shall be the responsibility of the bidder. For further
information about PARITY, potential bidders may contact PARITY at 500 Main Street,
Suite 1010, Fort Worth, TX 76102, telephone (817) 885-8900. Neither the City nor Springsted
Incorporated assumes any liability if there is a malfunction of PARITY. All bidders are advised
that each Proposal shall be deemed to constitute a contract between the bidder and the City to
purchase the Bonds regardless of the manner of the Proposal submitted.
DETAILS OF THE BONDS
The Bonds will be dated April 1, 1998, as the date of original issue, and will bear interest
payable on February 1 and August 1 of each year, commencing February 1, 1999. Interest will
be computed on the basis of a 360-day year of twelve 30-day months.
The Bonds will mature February 1 in the years and amounts as follows:
2000 $10,000 2004 $45,000 2008 $50,000 2012 $60,000
2001 $40,000 2005 $45,000 2009 $55,000 2013 $65,000
2002 $40,000 2006 $45,000 2010 $55,000 2014 $65,000
2003 $40,000 2007 $50,000 2011 $60,000
Proposals for the Bonds may contain a maturity schedule providing for a combination of serial
bonds and term bonds, provided that no serial bond may mature on or after the first mandatory
sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory
sinking fund redemption and must conform to the maturity schedule set forth above at a price of
- i -
par plus accrued interest to the date of redemption. In order to designate term bonds, the
proposal must specify "Last Year of Serial Maturities" and "Years of Term Maturities" in the
spaces provided on the Proposal Form.
BOOK ENTRY SYSTEM
The Bonds will be issued by means of a book entry system with no physical distribution of
Bonds made to the public. The Bonds will be issued in fully registered form and one Bond,
representing the aggregate principal amount of the Bonds maturing in each year, will be
registered in the name of Cede & Co. as nominee of The Depository Trust Company ("DTC"),
New York, New York, which will act as securities depository of the Bonds. Individual purchases
of the Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single
maturity through book entries made on the books and records of DTC and its participants.
Principal and interest are payable by the registrar to DTC or its nominee as registered owner of
the Bonds. Transfer of principal and interest payments to participants of DTC will be the
responsibility of DTC; transfer of principal and interest payments to beneficial owners by
participants will be the responsibility of such participants and other nominees of beneficial
owners. The purchaser, as a condition of delivery of the Bonds, will be required to deposit the
Bonds with DTC.
REGISTRAR
The City will name the registrar which shall be subject to applicable SEC regulations. The City
will pay for the services of the registrar.
OPTIONAL REDEMPTION
The City may elect on February 1, 2006, and on any day thereafter, to prepay Bonds due on or
after February 1, 2007. Redemption may be in whole or in part and if in part at the option of the
City and in such manner as the City shall determine. If less than all Bonds of a maturity are
called for redemption, the City will notify DTC of the particular amount of such maturity to be
prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to
be redeemed and each participant will then select by lot the beneficial ownership interests in
such maturity to be redeemed. All prepayments shall be at a price of par plus accrued interest.
SECURITY AND PURPOSE
The Bonds will be general obligations of the City for which the City will pledge its full faith and
credit and power to levy direct general ad valorem taxes. In addition the City will pledge special
assessments against benefited property. The proceeds will be used to finance improvement
projects within the City.
TYPE OF PROPOSALS
Proposals shall be for not less than $715,575 and accrued interest on the total principal amount
of the Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposit") in the form
of a certified or cashier's check or a Financial Surety Bond in the amount of $7,250, payable to
the order of the City. If a check is used, it must accompany each proposal. If a Financial
Surety Bond is used, it must be from an insurance company licensed to issue such a bond in
the State of Minnesota, and preapproved by the City. Such bond must be submitted to
Springsted Incorporated prior to the opening of the proposals. The Financial Surety Bond must
identify each underwriter whose Deposit is guaranteed by such Financial Surety Bond. If the
Bonds are awarded to an underwriter using a Financial Surety Bond, then that purchaser is
required to submit its Deposit to Springsted Incorporated in the form of a certified or cashier's
check or wire transfer as instructed by Springsted Incorporated not later than 3:30 P.M., Central
Time, on the next business day following the award. If such Deposit is not received by that
- ii -
time, the Financial Surety Bond may be drawn by the City to satisfy the Deposit requirement.
The City will deposit the check of the purchaser, the amount of which will be deducted at
settlement and no interest will accrue to the purchaser. In the event the purchaser fails to
comply with the accepted proposal, said amount will be retained by the City. No proposal can
be withdrawn or amended after the time set for receiving proposals unless the meeting of the
City scheduled for award of the Bonds is adjourned, recessed, or continued to another date
without award of the Bonds having been made. Rates shall be in integral multiples of 5/100 or
1/8 of 1%. Rates must be in ascending order. Bonds of the same maturity shall bear a single
rate from the date of the Bonds to the date of maturity. No conditional proposals will be
accepted.
AWARD
The Bonds will be awarded on the basis of the lowest interest rate to be determined on a true
interest cost (TIC) basis. The City's computation of the interest rate of each proposal, in
accordance with customary practice, will be controlling.
The City will reserve the right to: (i) waive non-substantive informalities of any proposal or of
matters relating to the receipt of proposals and award of the Bonds, (ii) reject all proposals
without cause, and, (iii) reject any proposal which the City determines to have failed to comply
with the terms herein.
BOND INSURANCE AT PURCHASER'S OPTION
If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment
therefor at the option of the underwriter, the purchase of any such insurance policy or the
issuance of any such commitment shall be at the sole option and expense of the purchaser of
the Bonds. Any increased costs of issuance of the Bonds resulting from such purchase of
insurance shall be paid by the purchaser, except that, if the City has requested and received a
rating on the Bonds from a rating agency, the City will pay that rating fee. Any other rating
agency fees shall be the responsibility of the purchaser.
Failure of the municipal bond insurer to issue the policy after Bonds have been awarded to the
purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on
the Bonds.
CUSIP NUMBERS
If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the
Bonds, but neither the failure to print such numbers on any Bond nor any error with respect
thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the
Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers
shall be paid by the purchaser.
SETTLEMENT
Within 40 days following the date of their award, the Bonds will be delivered without cost to the
purchaser at a place mutually satisfactory to the City and the purchaser. Delivery will be
subject to receipt by the purchaser of an approving legal opinion of Dorsey & Whitney LLP of
Minneapolis, Minnesota, and of customary closing papers, including a no-litigation certificate.
On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds
which shall be received at the offices of the City or its designee not later than 12:00 Noon,
Central Time. Except as compliance with the terms of payment for the Bonds shall have been
made impossible by action of the City, or its agents, the purchaser shall be liable to the City for
any loss suffered by the City by reason of the purchaser's non-compliance with said terms for
payment.
CONTINUING DISCLOSURE
Participating underwriters need not comply with the continuing disclosure requirements of
Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities
Exchange Act of 1934 (the 'Rule"), because the offering is in a principal amount less than
$1,000,000. Consequently, the City will not enter into any undertaking to provide continuing
disclosure of any kind with respect to the Bonds.
OFFICIAL STATEMENT
The City has authorized the preparation of an Official Statement containing pertinent
information relative to the Bonds, and said Official Statement will serve as a nearly-final Official
Statement within the meaning of Rule 15c2-12 of the Securities and Exchange Commission.
For copies of the Official Statement or for any additional information prior to sale, any
prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated,
85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000.
The Official Statement, when further supplemented by an addendum or addenda specifying the
maturity dates, principal amounts and interest rates of the Bonds, together with any other
information required by law, shall constitute a "Final Official Statement" of the City with respect
to the Bonds, as that term is defined in Rule 15c2-12. By awarding the Bonds to any
underwriter or underwriting syndicate submitting a proposal therefor, the City agrees that, no
more than seven business days after the date of such award, it shall provide without cost to the
senior managing underwriter of the syndicate to which the Bonds are awarded 30 copies of the
Official Statement and the addendum or addenda described above. The City designates the
senior managing underwriter of the syndicate to which the Bonds are awarded as its agent for
purposes of distributing copies of the Final Official Statement to each Participating Underwriter.
Any underwriter delivering a proposal with respect to the Bonds agrees thereby that if its
proposal is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a
contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring
the receipt by each such Participating Underwriter of the Final Official Statement.
Dated February 10, 1998 BY ORDER OF THE CITY COUNCIL
/s/Connie Kroeplin
City Clerk
- iv -
SCHEDULE OF BOND YEARS
I
$725,000
CITY OF ST.ANTHONY, MINNESOTA
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1998A
Cumulative
Year Principal Bond Years Bond Years
2000 $10,000 18.3333 18.3333
2001 $40,000 113.3333 131 .6666
2002 $40,000 153.3333 284.9999
2003 $40,000 193.3333 478.3332
2004 $45,000 262.5000 740.8332
2005 $45,000 307.5000 1 ,048.3332
2006 $45,000 352.5000 1 ,400.8332
2007 $50,000 c 441 .6667 1 ,842.4999
2008 $50,000 c 491 .6667 2,334.1666
2009 $555000 c 595.8333 2,929.9999
2010 $55,000 c 650.8333 3,580.8332
2011 $60,000 c 770.0000 4,350.8332
2012 $60,000 c 830.0000 55180.8332
2013 $65,000 c 964.1667 6,144.9999
2014 $65,000 c 1 ,029.1667 7,174.1666
Average Maturity: 9.90 Years
Bonds Dated: April 1 , 1998
Interest Due: February 1 , 1999 and each February 1 and August 1 to maturity.
Principal Due: February 1 , 2000-2014 inclusive.
Optional Call: Bonds maturing on or after February 1 , 2007 are callable
commencing February 1 , 2006 and any date thereafter at par.
(See Terms of Proposal. )
c: subject to optional call
-v-
(This page was left blank intentionally.)
OFFICIAL STATEMENT
$725,000
CITY OF ST. ANTHONY, MINNESOTA
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1998A
(BOOK ENTRY ONLY)
INTRODUCTORY STATEMENT
This Official Statement contains certain information relating to the City of St. Anthony,
Minnesota (the "City"), and its issuance of $725,000 General Obligation Improvement Bonds,
Series 1998A (the 'Bonds" or the "Issue"). The Bonds are general obligations of the City for
which the City pledges its full faith and credit and power to levy direct general ad valorem taxes
without limit as to rate or amount.
Inquiries may be directed to Mr. Roger Larson, Finance Director, City of St. Anthony, 3301
Silver Lake Road, St. Anthony, Minnesota 55418 or by telephoning (612) 789-8881. Inquiries
may also be made to Springsted Incorporated, 85 East Seventh Place, Suite 100, St. Paul,
Minnesota 55101-2887, or by telephoning (612) 223-3000. If information of a specific legal
matter is desired, requests may be directed to Mr. Jerome Gilligan, Dorsey & Whitney LLP,
Bond Counsel, 2200 First Bank Place East, Minneapolis, Minnesota 55402, or by telephoning
(612) 340-2600.
CONTINUING DISCLOSURE
Participating underwriters need not comply with the continuing disclosure requirement of Rule
15c2-12 promulgated by the Securities and Exchange Commission under the Securities
Exchange Act of 1934 (the "Rule"), because the offering is in a principal amount less than
$1,000,000. Consequently, the City will not enter into any undertaking to provide continuing
disclosure of any kind with respect to the Bonds.
i
THE BONDS
General Description
The Bonds are dated as of April 1, 1998 and will mature annually on February 1, as set forth on
the cover of this Official Statement. The Bonds are issued in book entry form. Interest on the
Bonds is payable February 1, 1999 and semiannually thereafter on February 1 and August 1.
Interest will be payable to the holder (initially Cede & Co.) registered on the books of the
registrar on the fifteenth day of the calendar month next preceding such interest payment date.
Firstar Bank of Minnesota, N.A. will serve as Registrar (the "Registrar")for the Bonds. Principal
of and interest on the Bonds will be paid as described in the section herein entitled "Book Entry
System."
Optional Redemption
The City may elect on February 1, 2006, and on any day thereafter, to prepay the Bonds due
on or after February 1, 2007. Redemption may be in whole or in part and if in part at the option
of the City and in such order as the City shall determine. If a maturity is prepaid only in part,
prepayments will be in increments of$5,000 of principal. All optional prepayments shall be at a
price of par plus accrued interest.
Book Entry System
The Depository Trust Company ("DTC"), New York, New York, will act as securities depository
for the Bonds. The Bonds will be issued as fully-registered securities registered in the name of
Cede & Co. (DTC's partnership nominee). One fully-registered Bond certificate per maturity will
be issued in the principal amount of the Bonds maturing in such year, and will be deposited with
DTC.
DTC is a limited-purpose trust company organized under the New York Banking Law, a
"banking organization" within the meaning of the New York Banking Law, a member of the
Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform
Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A
of the Securities Exchange Act of 1934. DTC holds securities that its participants
("Participants") deposit with DTC. DTC also facilitates the settlement among Participants of
securities transactions, such as transfers and pledges in deposited securities through electronic
computerized book entry changes in Participants' accounts, thereby eliminating the need for
physical movement of securities certificates. Direct Participants ("Direct Participants") include
securities brokers and dealers, banks, trust companies, clearing corporations, and certain other
organizations. DTC is owned by a number of its Direct Participants and by the New York Stock
Exchange, Inc., the American Stock Exchange, Inc., and the National Association of Securities
Dealers, Inc. Access to the DTC system is also available to others such as securities brokers
and dealers, banks, and trust companies that clear through or maintain a custodial relationship
with a Direct Participant, either directly or indirectly ("Indirect Participants"). The Rules
applicable to DTC and its Participants are on file with the Securities and Exchange
Commission.
Purchases of Bonds under the DTC system must be made by or through Direct Participants,
which will receive a credit for the Bonds on DTC's records. The ownership interest of each
actual purchaser of each Bond ("Beneficial Owner") is in turn to be recorded on the Direct and
Indirect Participants' records. Beneficial Owners will not receive written confirmation from DTC
of their purchase, but Beneficial Owners are expected to receive written confirmations providing
details of the transaction, as well as periodic statements of their holdings, from the Direct or
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Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers
of ownership interest in the Bonds are to be accomplished by entries made on the books of
Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive
certificates representing their ownership interest in the Bonds, except in the event that use of
the book entry system for the Bonds is discontinued.
To facilitate subsequent transfers, all Bonds deposited by Participants with DTC are registered
in the name of DTC's partnership nominee, Cede & Co. The deposit of Bonds with DTC and
their registration in the name of Cede & Co. effect no change in beneficial ownership. DTC has
no knowledge of the actual Beneficial Owners of the Bonds. DTC's records reflect only the
identity of the Direct Participants to whose accounts such Bonds are credited, which may or
may not be the Beneficial Owners. The Participants will remain responsible for keeping
account of their holdings on behalf of their customers.
Conveyance of notices and other communications by DTC to Direct Participants, by Direct
Participants to Indirect Participants, and by Direct Participants and Indirect Participants to
Beneficial Owners will be governed by arrangements among them, subject to any statutory or
regulatory requirements as may be in effect from time to time.
Redemption notices shall be sent to Cede & Co. If less than all of the Bonds within an issue
are being redeemed, DTC's practice is to determine by lot the amount of the interest of each
Direct Participant in such issue to be redeemed.
Neither DTC nor Cede & Co. will consent or vote with respect to the Bonds. Under its usual
procedures, DTC mails an Omnibus Proxy to the Bond Registrar as soon as possible after the
record date. The Omnibus Proxy assigns Cede & Co.'s consenting or voting rights to those
Direct Participants to whose accounts the Bonds are credited on the record date (identified in a
listing attached to the Omnibus Proxy).
Principal and interest payments on the Bonds will be made to DTC. DTC's practice is to credit
Direct Participants' accounts on the payment date in accordance with their respective holdings
shown on DTC's records unless DTC has reason to believe that it will not receive payment on
payable date. Payments by Participants to Beneficial Owners will be governed by standing
instructions and customary practices, as is the case with securities held for the accounts of
customers in bearer form or registered in "street name," and will be the responsibility of such
Participants and not of DTC, or the City, subject to any statutory or regulatory requirements as
may be in effect from time to time. Payment of principal or interest to DTC is the responsibility
of the Registrar, disbursement of such payments to Direct Participants shall be the
responsibility of DTC, and disbursement of such payments to the Beneficial Owners shall be the
responsibility of Direct and Indirect Participants.
DTC may discontinue providing its services as securities depository with respect to the Bonds
at any time by giving reasonable notice to the Bond Registrar. Under such circumstances, in
the event that a successor securities depository is not obtained, Bond certificates are required
to be printed and delivered.
The City may decide to discontinue use of the system of book entry transfers through DTC (or a
successor securities depository). In that event, Bond certificates will be printed and delivered.
The information in this section concerning DTC and DTC's book entry has been obtained from
sources that the City believes to be reliable, but the City takes no responsibility for the accuracy
thereof.
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AUTHORITY AND PURPOSE
The Bonds are being issued pursuant to Minnesota Statutes, Chapters 429 and 475. The
proceeds of the Bonds will be used to finance various street and water main repair and
replacement projects within the City. The composition of the Bonds is as follows:
Project Costs' $698,250
Issuance Costs 17,325
Allowance for Discount 9.425
Total Series 1998A Bonds $725,000
Includes engineering, administration and contingency.
SECURITY AND FINANCING
In addition to its general obligation pledge, the City pledges special assessments levied against
benefited property. Special assessments in the principal amount of $180,900 are expected to
be filed on or by September 1, 1998 for first collection in 1999. All assessments will be spread
over 15 years in equal annual principal and interest installments with interest charged on the
unpaid balance at a rate of 6.70%. The balance of debt service not paid by these special
assessments is expected to be paid from an annual general ad valorem tax levy of
approximately $53,830. The City will make its first levy for this issue in 1998 for collection in
1999. The February 1, 1999 interest payment will be made from a temporary transfer of City
funds. Thereafter, special assessments and levy collections will be in the amount sufficient to
pay 105% of the interest coming due August 1 in the year of collection and the principal and
interest coming due February 1 of the following year.
FUTURE FINANCING
The City does not anticipate any additional borrowing for at least the next 90 days.
LITIGATION
The City is not aware of any threatened or pending litigation affecting the validity of the Bonds
or the City's ability to meet its financial obligations.
LEGALITY
The Bonds are subject to approval as to certain matters by Dorsey & Whitney LLP of
Minneapolis, Minnesota as Bond Counsel. Bond Counsel has not participated in the
preparation of this Official Statement except for guidance concerning the following section, "Tax
Exemption, and will not pass upon its accuracy, completeness, or sufficiency. Bond Counsel
has not examined nor attempted to examine or verify, any of the financial or statistical
statements, or data contained in this Official Statement, and will express no opinion with
respect thereto. A legal opinion substantially in the form as set out in Appendix I herein will be
delivered at closing.
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TAX EXEMPTION
In the opinion of Dorsey & Whitney LLP, as Bond Counsel, under federal and Minnesota laws,
regulations, rulings and decisions in effect on the date of issuance of the Bonds, interest on the
Bonds is not includable in gross income for federal income tax purposes or in taxable net
income of individuals, estates and trusts for Minnesota income tax purposes. Interest on the
Bonds is includable in taxable income of corporations and financial institutions for purposes of
the Minnesota franchise tax. Certain provisions of the Internal Revenue Code of 1986, as
amended (the "Code"), however, impose continuing requirements that must be met after the
issuance of the Bonds in order for interest thereon to be and remain not includable in federal
gross income and in Minnesota taxable net income. Noncompliance with such requirements by
the District may cause the interest on the Bonds to be includable in gross income for purposes
of federal income taxation and in taxable net income for purposes of Minnesota income
taxation, retroactive to the date of issuance of the Bonds, irrespective in some cases of the date
on which such noncompliance is ascertained. No provision has been made for redemption of or
for an increase in the interest rate on the Bonds in the event that interest on the Bonds
becomes includable in federal gross income or Minnesota taxable income.
Interest on the Bonds is not an item of tax preference includable in alternative minimum taxable
income for purposes of the federal alternative minimum tax applicable to all taxpayers or the
Minnesota alternative minimum tax applicable to individuals, estates and trusts, but is
includable in adjusted current earnings in determining the alternative minimum taxable income
of corporations for purposes of the alternative minimum tax. Interest on the Bonds may be
includable in the income of a foreign corporation for purposes of the branch profits tax imposed
by Section 884 of the Code and is includable in the net investment income of foreign insurance
companies for purposes of Section 842(b) of the Code. In the case of an insurance company
subject to the tax imposed by Section 831 of the Code, the amount which otherwise would be
taken into account as losses incurred under Section 832(b)(5) of the Code must be reduced by
an amount equal to fifteen percent of the interest on the Bonds that is received or accrued
during the taxable year. Section 86 of the Code requires recipients of certain Social Security
and railroad retirement benefits to take into account, in determining the taxability of such
benefits, receipts or accruals of interest on the Bonds. Passive investment income, including
interest on the Bonds, may be subject to federal income taxation under Section 1375 of the
Code for a Subchapter S corporation that has Subchapter C earnings and profits at the close of
the taxable year if greater than twenty-five percent of the gross receipts of such Subchapter S
corporation is passive investment income. Section 265 of the Code denies a deduction for
interest on indebtedness incurred or continued to purchase or carry the Bonds or, in the case of
a financial institution, that portion of the holder's interest expense allocated to interest on the
Bonds, except with respect to certain financial institutions (within the meaning of Section 265(b)
of the Code).
The foregoing is not intended to be an exhaustive discussion of collateral tax consequences
arising from receipt of interest on the Bonds. Prospective purchasers or holders of the Bonds
should consult their tax advisors with respect to collateral tax consequences, including without
limitation the calculations of alternative minimum tax, environmental tax or foreign branch profits
tax liability or the inclusion of Social Security or other retirement payments in taxable income.
BANK QUALIFIED TAX-EXEMPT BONDS
The City will designate the Bonds as "qualified tax-exempt obligations" for purposes of
Section 265(b)(3) of the Internal Revenue Code of 1986, as amended, relating to the ability of
financial institutions to deduct from income for federal income tax purposes, interest expense
that is allocable to carrying and acquiring tax-exempt obligations.
- 5 -
RATING
An application for a rating of the Bonds has been made to Moody's Investors Service
("Moody's"), 99 Church Street, New York, New York. If a rating is assigned, it will reflect only
the opinion of Moody's. Any explanation of the significance of the rating may be obtained only
from Moody's.
There is no assurance that a rating, if assigned, will continue for any given period of time, or
that such rating will not be revised or withdrawn, if in the judgment of Moody's, circumstances
so warrant. A revision or withdrawal of the rating may have an adverse effect on the market
price of the Bonds.
FINANCIAL ADVISOR
The City has retained Springsted Incorporated, Public Finance Advisors, of St. Paul, Minnesota,
as financial advisor (the "Financial Advisor") in connection with the issuance of the Bonds. In
preparing the Official Statement, the Financial Advisor has relied upon governmental officials
who have access to relevant data to provide accurate information for the Official Statement,
and the Financial Advisor has not been engaged, nor has it undertaken, to independently verify
the accuracy of such information. The Financial Advisor is not a public accounting firm and has
not been engaged by the City to compile, review, examine or audit any information in the
Official Statement in accordance with accounting standards. The Financial Advisor is an
independent advisory firm and is not engaged in the business of underwriting, trading or
distributing municipal securities or other public securities and therefore will not participate in the
underwriting of the Bonds.
CERTIFICATION
The City has authorized the distribution of this Official Statement for use in connection with the
initial sale of the Bonds.
As of the date of the settlement of the Bonds, the Purchaser will be furnished with a certificate
signed by the appropriate officers of the City. The certificate will state that as of the date of the
Official Statement, the Official Statement did not and does not as of the date of the certificate
contain any untrue statement of material fact or omit to state a material fact necessary in order
to make the statements made therein, in light of the circumstances under which they were
made, not misleading.
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CITY PROPERTY VALUES
NOTE: 1997 values for taxes payable in 1998 are not yet available.
1996 Indicated Market Value of Taxable Property: $349,640,546'
y Calculated by dividing the county assessors' 1996 estimated market value of $319,921,100 by the
aggregate 1996 sales ratio of 91.5% for the City as determined by the State Department of Revenue.
1996 Net Tax Capacity: $6,224,771
Hennepin Ramsey
County County Total
Real Estate $4,012,366 $2,077,241 $6,089,607
Personal Property 96,440 38,724 135,164
Total $4,108,806 $2,115,965 $6,224,771
1996 Taxable Net Tax Capacity: $6,234,749
1996 Net Tax Capacity $6,224,771
Less: Captured Tax Increment Tax Capacity (607,465)
Contribution to Fiscal Disparities (347,500) --
Plus: Distribution from Fiscal Disparities 964,943
1996 Taxable Net Tax Capacity $6,234,749
1996 Taxable Net Tax Capacity by Property Class
Real Estate:
Residential Homestead $3,283,157 52.7%
Non-Homestead Residential 1,069,992 17.1
Commercial/Industrial, Railroad and
Public Utility` 1,746,436 28.0
Personal Property 135,164 2.2
Total $6,234,749 100.0%
Reflects adjustments for fiscal disparities and captured tax increment tax capacity.
Trend of Values
r Assessor's
Indicated Estimated Taxable Tax
Market Value(a) Market Value Capacity(b)
1996 $349,640,546 $319,921,100 $6,234,749
1995 337,579,157 312,598,300 5,962,847
1994 323,261,376 305,482,000 5,876,740
1993 309,898,854 297,502,900 5,571,043
1992 312,466,975 303,717,900 5,947,392
(a) Calculated by dividing the county assessors'estimated market value by the sales ratio determined for
the City each year by the State Department of Revenue.
(b) The majority of the reduction in taxable tax capacity since 1991 occurs in the category of commercial
and industrial property. See Appendix II for an explanation of tax capacity.
- 7 -
Ten of the Largest Taxpayers in the City
1996 Net
Taxpayer Type of Property Tax Capacity*
St. Marie Company Shopping Mall $ 291,593
Glaser Financial Group Inc. Apartment 240,550
St. Anthony Nursing
Home/Chandler Place Health Facility 199,914
Equinox Properties Apartment Buildings 170,000
Northern States Power Company Utility 117,641
Village North Apartments 63,720
St. Anthony Minneapolis, Inc. Commercial 61,682
Leslie Paper Company Manufacturer 60,502
Firstar Bank of Minnesota Bank 56,392
Individual Commercial 50,902
Total $1,312,986*
* Represents 21%of the City's total 1996 taxable net tax capacity.
CITY INDEBTEDNESS
Legal Debt Limit
Legal Debt Limit (2% of Estimated Market Value) $6,251,966
Less: Outstanding Debt Subject to Limit (-0-)
Debt Margin as of January 2, 1998 $6,251,966
General Obligation Debt Supported Primarily by Special Assessments
Principal
Date Original Final Outstanding
of Issue Amount Purpose Maturity As of 1-2-98
8-1-93 $470,000 Improvements 2-1-2009 $ 390,000
6-1-94 525,000 Improvements 2-1-2010 490,000
3-1-95 825,000 Improvements 2-1-2011 825,000
4-1-97 690,000 Improvements 2-1-2013 690,000
4-1-98 725,000 Improvements (this issue) 2-1-2014 725,000
Total $3,120,000
General Obligation Debt Supported by Tax Increments
Principal
Date Original Final Outstanding
of Issue Amount Purpose Maturity As of 1-2-98
1-1-91 $1,550,000 Tax Increment Refunding 2-1-1998 $ 190,000
1-1-94 215,000 Tax Increment Refunding 2-1-2001 135,000
12-1-95 2,650,000 Tax Increment 2-1-2010 2,385,000
7-1-96 1,770,000 Taxable Tax Increment 2-1-2013 1,720,000
Total $4,430,000
- 8 -
Annual Debt Service Payments Including this Issue
G.O. Debt
Supported Primarily by G.O. Debt Supported
Special Assessments by Tax Increments
Principal Principal
Year Principal & Interest(a) Principal & Interest
1998 (at 1-2) $ 100,000 233,209.16 $ 365,000 615,012.50
1999 100,000 260,537.08 175,000 412,268.75
2000 150,000 293,931.26 260,000 487,177.50
2001 185,000 321,226.26 270,000 483,795.00
2002 195,000 322,368.76 250,000 450,256.25
2003 195,000 313,063.76 260,000 446,500.00
2004 210,000 318,231.26 280,000 451,597.50
2005 225,000 322,466.26 295,000 450,406.25
2006 230,000 315,982.51 310,000 448,037.50
2007 245,000 318,807.51 325,000 444,492.50
2008 250,000 310,908.76 350,000 449,467.50
2009 270,000 317,127.51 370,000 447,705.00
2010 240,000 273,429.38 390,000 444,325.00
2011 205,000 226,457.50 165,000 200,717.50
2012 125,000 137,848.75 175,000 197,200.00
2013 130,000 136,435.00 190,000 197,600.00
2014 65,000 66,576.25 -- --
Total $3,120,000(b) $4,488,606.97 $4,430,000(c) $6,626,558.75
(a) Includes this Issue at an assumed average annual rate of 4.60%.
W 58.8% of this debt will be retired within ten years.
(c) 63.0% of this debt will be retired within ten years.
Summary of Debt
Gross Less: Debt Net
Debt Service Funds' Direct Debt
G.O. Debt Supported Primarily by
Special Assessments $3,120,000 $ (556,527) $2,563,473
G.O. Debt Supported by Tax Increments 4,430,000 (1,409,876) 3,020,124
Debt service funds are as of December 31, 1997 and include money to pay both principal and interest.
- 9 -
Indirect Debt
Debt Applicable to
1996 Taxable G.O. Debt Tax Capacity in City
Taxing Unit(a) Net Tax Capacity As of 1-2-98(b) Percent Amount
Hennepin County $1,083,247,666 $ 61,005,000 0.39% $ 237,920
Ramsey County 353,111,616 128,930,000 0.57 734,901
ISD 282 (St. Anthony-
New Brighton) 7,399,746 6,065,000 84.38 5,117,647
Northeast Metro
Intermediate District 336,986,588 6,335,000 0.59 37,377
Hennepin County
Park District 780,596,229 12,230,000 0.55 67,265
Metropolitan Council 2,161,233,611 32,415,000 0.32 103,728
Metropolitan Transit
District() 1,942,024,826 83,535,000 0.35 292.373
Total $6,591,211
(a) Only those taxing units which have outstanding general obligation debt are presented here.
(b) Excludes general obligation debt supported by revenues and revenue-supported debt.
(c) Metropolitan Council also has outstanding $418,665,000 of general obligation sewer bonds and loans
which are supported by sewer system revenues.
Debt Ratios Including This Issue
G.O. G.O. Indirect &
Direct Debt` Direct Debt
To 1996 Indicated Market Value 1.60% 3.48%
Per Capita (7,939 - 1996 Metropolitan Council Estimate) $703 $1,534
Excludes general obligation debt supported by revenues.
CITY TAX RATES, LEVIES AND COLLECTIONS
Tax Capacity Rates for a City Resident in Hennepin County
1996/97
For
1992193 1993/94 1994/95 1995/96 Total Debt Only
Hennepin County 35.839% 37.441% 37.454% 37.270% 35.515% 2.303%
City of St. Anthony 23.479 26.160 26.031 28.507 26.653 2.127
ISD 282 (St. Anthony) 61.122 66.481 65.790 76.430 72.105 8.149
Special Districts' 6.042 6.200 6.357 6.900 6.659 1.279
Total 126.482% 136.282% 135.632% 149.107% 140.932% 13.858%
Includes Metropolitan Council, Regional Transit District, Mosquito Control District, Hennepin Parks,
Park Museum and County Regional Railroad Authority.
NOTE: Taxes are determined by multiplying the net tax capacity by the tax capacity rate, expressed as a
percentage. (See Appendix 11.)
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City Tax Levies and Collections
Collected During Collected
Gross Net Collection Year As of 12-31-96
Levy/Collect Levy' Levy Amount Percent Amount Percent
1997/98 $2,075,234 $1,740,856 (In Process of Collection)
1996/97 1,998,389 1,664,011 (Not Currently Available)
1995/96 1,993,156 1,679,803 $1,664,761 99.1% $1,664,761 99.1%
1994/95 1,860,075 1,532,942 1,499,816 97.8 1,504,366 98.1
1993/94 1,796,608 1,436,657 1,412,929 98.3 1,422,948 99.0
1992/93 1,694,638 1,348,683 1,265,760 93.9 1,294,105 96.0
The net levy excludes Homestead and Agricultural Credit Aid("HACA'). Beginning in 1993194 the net
levy is the basis for computing the tax capacity rates. The gross levy is the basis for computing tax
capacity rates in prior years.
FUNDS ON HAND
As of December 31, 1997
Fund Cash and Investments
General $1,089,210
Special Revenue 302,450
HRA Fund 769,283
Capital Equipment 62,324
Debt Service:
Taxes and Special Assessments 556,527
Tax Increment 1,409,876
Capital Projects 744,903
Community Center 16,975
Enterprise 5,513,914
Miscellaneous 161,481
Total $10,626,943
INVESTMENTS
The City's current investments are in accordance with Minnesota State Statutes compliance
requirements sections 118.01, 471.56 and 475.66. In addition, the City has an investment
policy for Mortgage Backed Securities which does not permit the City to invest in the following
high risk securities (as defined in Minnesota Statutes, Chapter 475.66, Subdivision 5):
I
1. Interest-only or Principal-only backed securities.
II 2. Any mortgage derivative security that:
a. has an expected average life greater than ten years;
r
ib. has an expected average life which will extend more than four years as the result of
an immediate and parallel shift in the yield curve of plus 300 basis;
c. has an expected average life which will shorten by more than six years as the result
of an immediate and sustained parallel shift in the yield curve of minus 300 basis
points;
d. will have an estimated change in price of more than 17 percent, as the result of an
immediate and sustained parallel shift in the yield curve of plus or minus 300 basis
points.
- 11 -
I .
Investment firms are required to repurchase any and all securities which do not comply with
Minnesota State Statutes, Sections 118.01, 471.56 and 475.66, or the City's investment policy
with regard to high risk, at full face value of the purchase price.
Current Value of City Investments at December 31, 1997
Total Booked at Cost $7,562,810
Change in Valuation 57,608
Current Valuation $7,620,418"
The amount listed is the value of the assets as of December 31, 1997. The increase in valuation of
0.76% represents a capital gain that would occur if the investments were liquidated on December 31,
1997. It is a policy of the City of St. Anthony to hold all its investments till maturity unless capital gains
can be realized by the sale of the investment.
GENERAL INFORMATION CONCERNING THE CITY
The City of St. Anthony is located in Hennepin and Ramsey Counties, immediately north of the
City of Minneapolis. The City encompasses an area of 1,600 acres or approximately 3 square
miles. Historical population figures for the City are shown below.
Percent
U.S. Census Population Increase/(Decrease)
1970 9,239 82%(a)
1980 7,981 (14%)
1990 7,727 (3%)
1996(b) 7,939 3%
(a) Represents increase in population from 1960 to 1970.
(b) Metropolitan Council Estimate.
Employment
The City is centrally located within the Minneapolis/St. Paul metropolitan area which provides
City residents with easy access to employment opportunities throughout the metropolitan area.
Some of the larger employers within the City limits are:
Approximate
Number
Employer Product/Service of Employees
St. Anthony Health Center 150-Bed Nursing Home 250
Independent School District 282 Education 187
Apache Plaza Mall Shopping Center 115
Herbergers Merchandise Sales 85
Source: 1998 survey of employers.
St. Anthony's industrial park has approximately 25 small or medium-sized businesses, each
with employment ranging up to 50.
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Labor Force Data
November 1997 November 1996
Civilian Unemployment Civilian Unemployment
Labor Force Rate Labor Force Rate
Hennepin County 666,171 1.9% 648,260 2.6%
Ramsey County 286,550 2.0 278,851 2.8
Mpls./St. Paul MSA 1,674,895 1.9 1,631,287 2.7
State of Minnesota 2,684,357 2.5 2,620,334 3.5
Source. Minnesota Department of Economic Security. 1997 data is preliminary.
Summary of City Building Permits
Residential
Total Permits Commercial/Industrial Single Family
Year Number Value Number Value Number Value
1998 (to 1-31) 8 $ 1,641,400 2 $1,189,000 6 $ 452,400
1997 302 9,953,478 57 6,453,578 245 3,499,900
1996 226 10,496,600 45 8,542,400 181 1,953,200
1995 205 2,764,940 56 1,745,140 2 1,099,800
1994 222 1,635,000 31 539,500 2 1,046,500
1993 258 2,365,280 47 1,388,480 1 976,800
1992 229 2,445,015 10 878,400 8 190,000
1991 197 2,654,350 21 615,250 19 1,218,000
1990 183 4,110,450 17 633,500 28 2,748,000
Commercial development figures include several large building permits. $411,500 for Apache
Commons, $432,100 for a Unocal station, and S3,019,800 Cub Foods at Apache Plaza. In addition,
permits in the amount of$1,043,500 were issued for the remodeling and repairing of the middle/high
school and for remodeling and repairing the middle/high school library. The City was issued a permit
in the amount of S3,000,000 for building the new city hall/community center complex. The City
contributed $1.2 million in cash and financed the remaining $2.6 million with tax increment financing
revenues which will cover the cost of the community center complex and reimburse the City the $1.2
million in cash by February 1, 2010.
Education
Independent School District 282 ("ISD 282") is headquartered in the City. The City constitutes
85% of ISD 282's valuation. ISD 282 has a 1997/98 enrollment of approximately 1,394 in
kindergarten through grade 12 and employs a total staff of 152, of which 103 are teachers and
administrators.
Parochial education is available at St. Charles Borromeo School, which has approximately 380
students in kindergarten through grade eight for the 1997/98 school year.
'1
GOVERNMENTAL ORGANIZATION AND SERVICES
I
! The City has been a municipal corporation since 1946 and is a statutory City operating under
the council-manager plan. The City Council is comprised of the Mayor and four Council
members, all elected at large. The current Council members are:
Expiration of Term
Clarence J. Ranallo Mayor December 31, 1999
Dennis Cavanaugh Member December 31, 2001
Jerome Faust Member December 31, 1999
George E. Marks Member December 31, 1999
Brian Thuesen Member December 31, 2001
- 13 -
The City Manager, Mr. Michael Mornson, is responsible for the daily administration and
operating function of the City and implementation of Council directives. The Financial Director,
Mr. Roger Larson, Sr., is responsible for maintaining the records and accounts of the City's
operations. The City has a total of 54 full-time employees.
City Services
Protective services are provided by the City through 18 police officers and 7 full-time and 23
volunteer fire fighters. The City also provides police services to the cities of Lauderdale and
Falcon Heights through contract agreement.
St. Anthony's water system is supplied by three wells and has two storage facilities with total
capacity of 2,250,000 gallons.
Interceptor sewer lines and wastewater treatment plants in the seven-county metropolitan area,
of which the City is a part, are under the jurisdiction of the Metropolitan Council Environmental
Services ("MCES"). MCES finances its operations through user charges based on usage. The
City is responsible for the construction and maintenance of sewer laterals.
The City owns and operates two municipal liquor stores: one with on- and off-sale and one off-
sale warehouse. The Liquor Fund transferred $65,000 to the General Fund in 1995 and
$65,000:in 1996.
City's Adopted General Fund Budgets
Proposed Actual
1998 1997
Revenues:
Property Taxes and Homestead Credit $1,567,767 $1,531,006
Licenses and Permits 63,900 58,800
Intergovernmental Revenue 1,084,301(a) 1,051,606(x)
Charges for Services 100,000 100,000
Miscellaneous 67,850 61,750
Transfers 247,082 218,713
Total Revenues $3,130,900 $3,021,875
Expenditures:
General Government $ 949,950 $ 913,925
Police 1,267,400(b) 1,223,400(b)
Fire 458,550 443,800
Public Works 393,700 381,750
Parks 61,300 59,000
Total Expenditures $3,130,900 $3,021,875
(a) Includes revenues from Lauderdale/Falcon Heights police contracts.
(b) Includes Lauderdale/Falcon Heights Police contract expenses.
- 14 -
Employee Pensions
All full-time and certain part-time employees of the City of St. Anthony are covered by defined
benefit pension plans administered by the Public Employees Retirement Association of
Minnesota (PERA). The PERA administers the Public Employees Retirement Fund (PERF) and
the Public Employees Police and Fire Fund (PEPFF) which are cost-sharing multiple-employer
public employee retirement plans. PERF members belong to either the Coordinated Plan or the
Basic Plan. Coordinated members are covered by Social Security and Basic members are not.
All new members must participate in the Coordinated Plan. All police officers, fire fighters and
peace officers who qualify for membership by statute are covered by the PEPFF. The City's
contribution for employees covered by PERA for the year ended December 31, 1996 was
$176,702, as compared to a contribution of $171,350 in 1995.
The St. Anthony Firefighters Relief Association is the administrator of a single employer
retirement system established to provide pension and other benefits to its membership in
accordance with Minnesota Statutes. The Association maintains a separate Special Fund to
accumulate assets to fund the retirement benefits earned by its membership. Funding of the
Association is derived primarily from an insurance premium tax in accordance with the
Volunteer Firefighter's Relief Association Financing Guidelines Act of 1971.
- 15 -
i
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APPENDIX I
PROPOSED FORM OF LEGAL OPINION
DORSEY & WHITNEY LLP
.MINNEAPOLIS PILLSBURY CENTER SOUTH NEW YORK
WASHINGTON.D.C. 220 SOUTH SIXTH STREET DENVER
LONDON MINNEAPOLIS, MINNESOTA 55402-1498 SEATTLE
BRUSSELS TELEPHONE: (612) 340-2600
FARGO
HONG KONG FAX: (612) 340-2868
BILLINGS
DES MOINES
ROCHESTER MISSOULA
COSTA MESA GREAT FALLS
City of St. Anthony
St. Anthony, Minnesota
Re: $725,000 General Obligation Improvement Bonds, Series 1998A
City of St. Anthony, Hennepin and Ramsey Counties, Minnesota
Ladies and Gentlemen:
As Bond Counsel in connection with the authorization,issuance and sale
by the City of St. Anthony, Hennepin and Ramsey Counties, Minnesota (the "City"), of
its General Obligation Improvement Bonds, Series 1998A dated, as originally issued, as
of April 1, 1998, in the total principal amount of$725,000 (the 'Bonds"), we have
examined certified copies of certain proceedings taken, and certain affidavits and
certificates furnished, by the City in the authorization, sale and issuance of the Bonds,
including the form of the Bonds. As to questions of fact material to our opinion we have
assumed the authenticity of and relied upon the proceedings, affidavits and certificates
furnished to us without undertaking to verify the same by independent investigation.
From our examination of such proceedings, affidavits and certificates, and based upon
laws, regulations, rulings and decisions in effect on the date hereof,it is our opinion
that:
1. The Bonds are valid and binding general obligations of the City
enforceable in accordance with their terms.
2. The principal of and interest on the Bonds are payable from special
assessments which the City has levied or agreed to levy on the property specially
'jenefited by the improvements financed by the issuance of the Bonds and ad valorem
:axes levied on all taxable property in the City, and, to any extent not so paid, from
1-1
DORSEY & WHITNEY LLP
$725,000 General Obligation City of St. Anthony, Hennepin,
Improvement Bonds, Series 1998A and Ramsey Counties, Minnesota
additional ad valorem taxes required by law to be levied on all taxable property in the
City without limitation of rate or amount.
3. Interest on the Bonds (a) is not includable in gross income for
federal income tax purposes or in taxable net income of individuals, estates or trusts for
Minnesota income tax purposes; (b) is includable in taxable income of corporations and
financial institutions for purposes of the Minnesota franchise tax; (c) is not an item of tax
preference includable in alternative minimum taxable income for purposes of the federal
alternative minimum tax applicable to all taxpayers or the Minnesota alternative
minimum tax applicable to individuals, estates and trusts; and (d) is includable in
adjusted current earnings of corporations in determining alternative minimum taxable
income for purposes of the federal alternative minimum tax imposed on corporations.
4. The City has designated the Bonds as "qualified tax-exempt obligations"
within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as
amended (the "Code"), and, financial institutions described in Section 265(b)(5) of the
Code may treat the Bonds for purposes of Section 265(b)(2) and 291(e)(1)(B) of the Code
as if they were acquired on August 7, 1986.
The opinions expressed in paragraphs 1 and 2 are subject as to
enforceability to the effect of any state or federal laws relating to bankruptcy,
insolvency, reorganization, moratorium or creditors' rights and the exercise of judicial
discretion.
The opinions set forth in paragraphs 3 and 4 are subject to the condition
that the City comply with all the requirements of the Code that must be satisfied
subsequent to the issuance of the Bonds in order that interest thereon be, or continue to
be, excluded from gross income for federal income tax purposes, and the Bonds be and
continue to be qualified tax-exempt obligations. The City has covenanted in the
resolution authorizing the issuance of the Bonds to comply with these continuing
requirements. Failure of the City to comply with these requirements may result in the
inclusion of interest on the Bonds in federal gross income and in Minnesota taxable net
income,retroactive to the date of issuance of the Bonds. Except as stated in this
opinion,we express no opinion regarding federal, state or other tax consequences to
owners of the Bonds.
i
DORSEY & WHITNEY LLP
$725,000 General Obligation City of St. Anthony, Hennepin,
Improvement Bonds, Series 1998A and Ramsey Counties, Minnesota
We have not been asked, and have not undertaken, to review the
accuracy, completeness or sufficiency of any offering materials relating to the Bonds,
and accordingly, we express no opinion with respect thereto.
Dated: , 1998.
Very truly yours,
k3
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i
APFENDIX li
SUMMARY OF TAX LEVIES, PAYMENT PROVISIONS, AND
MINNESOTA REAL PROPERTY VALUATION
Following is a summary of certain statutory provisions effective through 1998 relative to tax levy
procedures, tax payment and credit procedures, and the mechanics of real property valuation.
The summary does not purport to be inclusive of all such provisions or of the specific provisions
discussed, and is qualified by reference to the complete text of applicable statutes, rules and
regulations of the State of Minnesota.
Property Valuations (Chapter 273, Minnesota Statutes)
Assessor's Estimated Market Value. Each parcel of real property subject to taxation must, by
statute, be appraised at least once every four years as of January 2 of the year of appraisal.
With certain exceptions, all property is valued at its market value which is the value the
assessor determines to be the price the property to be fairly worth, and which is referred to as
the "Estimated Market Value."
Limitation of Market Value Increases. Effective through assessment year 2001, the amount of
increase in market value for all property classified as agricultural homestead or non-homestead,
residential homestead or non-homestead, or non-commercial seasonable recreational
residential, which is entered by the assessor in the current assessment year, may not exceed
the greater of (i) 10% of the preceding year's market value or (ii) 1/4 of the difference between
the current assessment and the preceding assessment.
Indicated Market Value. Because the Estimated Market Value-as determined by an assessor
may not represent the price of real property in the marketplace, the "Indicated Market Value" is
generally regarded as more representative of full value. The Indicated Market Value is
determined by dividing the Estimated Market Value of a given year by the same year's sales
ratio determined by the State Department of Revenue. The sales ratio represents the overall
relationship between the Estimated Market Value of property within the taxing unit and actual
selling price.
Net Tax Capacity. The Net Tax Capacity is the value upon which net taxes are levied,
extended and collected. The Net Tax Capacity is computed by applying the class rate
percentages specific to each type of property classification against the Estimated Market Valu--.
Class rate percentages vary depending on the type of property as shown on the last page of
this Appendix. The formulas and class rates for converting Estimated Market Value to Net Tax
Capacity represent a basic element of the State's property tax relief system and are subject to
annual revisions by the State Legislature.
i
Property taxes are determined by multiplying the Net Tax Capacity by the tax capacity rate,
expressed as a percentage.
Property Tax Payments and Delinquencies
(Chapters 275, 276, 277, 279-282 and 549, Minnesota Statutes)
Ad valorem property taxes levied by local governments in Minnesota are extended and
collected by the various counties within the State. Each taxing jurisdiction is required to certify
the annual tax levy to the county auditor within five (5) working days after December 20 of the
year preceding the collection year. A listing of property taxes due is prepared by the county
auditor and turned over to the county treasurer on or before the first business day in March.
The county treasurer is responsible for collecting all property taxes within the county. Real
estate and personal property tax statements are mailed out by March 31. One-half (1/2) of the
taxes on real property is due on or before May 15. The remainder is due on or before
October 15. Real property taxes not paid by their due date are assessed a penalty which,
depending on the type of property, increases from 2% to 4% on the day after the due date. In
it-1
the case of the first installment of real property taxes due May 15, the penalty increases to 4%
or 8% on June 1. Thereafter, an additional 1% penalty shall accrue each month through
October 1 of the collection year for unpaid real property taxes. In the case of the second
installment of real property taxes due October 15, the penalty increases to 6% or 8% on
November 1 and increases again to 8% or 12% on December 1. Personal property taxes
remaining unpaid on May 16 are deemed_to be delinquent and a penalty of 8% attaches to the
unpaid tax. However, personal property owned by a tax-exempt entity, but which is treated as
taxable by virtue of a lease agreement, is subject to the same delinquent property tax penalties
as real property.
On the first business day of January of the year following collection all delinquencies are
subject to an additional 2% penalty, and those delinquencies outstanding as of February 15 are
filed for a tax lien judgment with the district court. By March 20 the clerk of court files a
publication of legal action and a mailing of notice of action to delinquent parties. Those
property interests not responding to this notice have judgment entered for the amount of the
delinquency and associated penalties. The amount of the judgment is subject to a variable
interest determined annually by the Department of Revenue, and equal to the adjusted prime
rate charged by banks, but in no event is the rate less than 10% or more than 14%.
Property owners subject to a tax lien judgment generally have five years (5) in the case of all
property located .outside of cities or in the case of residential homestead, agricultural
homestead and seasonal residential recreational property located within cities or three (3) years
with respect to other types of property to redeem the property. After expiration of the
redemption period, unredeemed properties are declared tax forfeit with title held in trust by the
State of Minnesota for the respective taxing districts. The county auditor, or equivalent thereof,
then sells those properties not claimed for a public purpose at auction. The net proceeds of the
sale are first dedicated to the satisfaction of outstanding special assessments on the parcel,
with any remaining balance in most cases being divided on the following basis: county - 40%;
town or city - 20%; and school district - 40%.
Property Tax Credits (Chapter 273, Minnesota Statutes)
In addition to adjusting the taxable value for various property types, primary elements of
Minnesota's property tax relief system are: property tax levy reduction aids; the circuit breaker
credit, which relates property taxes to income and provides relief on a sliding income scale; and
targeted tax relief, which is aimed primarily at easing the effect of significant tax increases. The
circuit breaker credit and targeted credits are reimbursed to the taxpayer upon application by
the taxpayer. Property tax levy reduction aid includes educational aids, local governmental aid,
equalization aid, homestead and agricultural credit aid (HACA) and disparity reduction aid.
i
Levy Limitations for Counties and Cities (M.S. 275.70 to 275.74
(Laws 1997, Chapter 231, Article 3))
Prior limitations restricting the ability of local governments in Minnesota to levy property taxes
expired in 1993. New overall levy limitations are in effect for taxes levied in 1997 and 1998 for
all counties and cities with populations exceeding 2,500. Levy increases are limited generally to
2.2% over the payable 1997 tax levy plus any increase due to growth in population.
Certain property tax levies are authorized outside of the new overall levy limitation ("special
levies"). Special levies include debt service levies for bonded indebtedness, excluding
installment payments on conditional sales contracts, debt service on state-aid road bonds,
payments on contracts for deed, any levies to pay debt service on tax increment revenue
bonds, and lease payments under certificates of participation. In order to receive approval for
any special levy claims outside of the overall levy limitation, requests for such special levies
must be submitted to the Property Tax Division of the Department of Revenue on or before
September 15th in the year in which the levy is to be made for collection in the following year.
The Department of Revenue has the authority to approve, reduce or deny a special levy
"-2
request. Final adjustments to all levies must be made to the Department of Revenue on or
before December 10th.
Debt Limitations
All Minnesota municipalities (counties, cities, towns and school districts) are subject to statutory
"net debt' limitations under the provisions of Minnesota Statutes, Section 475.53. Net debt is
defined as the amount remaining after deducting from gross debt the amount of current
revenues which are applicable within the current fiscal year to the payment of any debt and the
aggregate of the principal of the following:
1. Obligations issued for improvements which are payable wholly or partially from the
proceeds of special assessments levied upon benefited property.
2. Warrants or orders having no definite or fixed maturity.
3. Obligations payable wholly from the income from revenue producing conveniences.
4. Obligations issued to create or maintain a permanent improvement revolving fund.
5. Obligations issued for the acquisition and betterment of public waterworks systems, and
public lighting, heating or power systems, and any combination thereof, or for any other
public convenience from which revenue is or may be derived.
6. Certain debt service loans and capital loans made to school districts.
7. Certain obligations to repay loans.
8. Obligations specifically excluded under the provisions of law authorizing their issuance.
9. Certain obligations to pay pension fund liabilities.
10. Debt service funds for the payment of principal and interest on obligations other than those
described above.
Levies for General Obligation Debt
(Sections 475.61 and 475.74, Minnesota Statutes)
Any municipality which issues general obligation debt must, at the time of issuance, certify
levies to the county auditor of the county(ies) within which the municipality is situated. Such
levies shall be in an amount that if collected in full will, together with estimates of other
revenues pledged for payment of the obligations, produce at least five percent in excess of the
amount needed to pay principal and interest when due. Notwithstanding any other limitations
upon the ability of a taxing unit to levy taxes, its ability to levy taxes for a deficiency in prior
levies for payment of general obligation indebtedness is without limitation as to rate or amount.
Metropolitan Revenue Distribution (Chapter 473F, Minnesota Statutes)
"Fiscal Disparities Law"
The Charles R. Weaver Metropolitan Revenue Distribution Act, more commonly known as
"Fiscal Disparities," was first implemented for taxes payable in 1975. Forty percent of the
increase in commercial-industrial (including public utility and railroad) net tax capacity valuation
since 1971 in each assessment district in the Minneapolis/St. Paul seven-county metropolitan
area (Anoka, Carver, Dakota, excluding the City of Northfield, Hennepin, Ramsey, Scott,
excluding the City of New Prague, and Washington Counties) is contributed to an area-wide tax
base. A distribution index, based on the factors of population and real property market value
per capita, is employed in determining what proportion of the net tax capacity value in the area-
wide tax base shall be distributed back to each assessment district.
J-3
STATUTORY FORMULAE
CONVERSION OF ESTIMATED MARKET VALUE (EMV)TO NET TAX CAPACITY FOR
Mkk- PROPERTY CLASSIFICATIONS
Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity
General Classifications Levy Year 1993 levy Year 1994 Levy Year 1995 Levy year 1996 Levy year 1997
Residential Homestead First$72,000 of EMV at 1.00% First$72,000 of EMV at 1.00% First$72,000 of EMV at 1.00% First$72,000 of EMV at 1.00% First$75,000 of EMV at
1.00%
EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EVM in excess of$72,000 EMV in excess of$75,000
at 2.00% at 2.00% at 2.00% at 2.00% at 1.85%
Residential Non-Homestead 3.40% 3.40% 3.40%;except certain cities of 3.40%;except certain cities of 2.90%;except certain cities of
4 or more units 5,000 population or less 5,000 population or less 5,000 population or less
at 2.30% at 2.30% at 2.30%
Agricultural Homestead First$72,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house, First$75,000 EMV of house,
garage and 1 acre at 1.00% garage and 1 acre at 1.00% garage and 1 acre at 1.00% garage and 1 acre at 1.00% garage and 1 acre at 1.00%
EMV in excess of$72,000 of EMV in excess of$72,000 of EMV in excess of$72,000 of EMV in excess of$72,000 of EMV in excess of$75,000 of
house,garage and 1 acre at house,garage and 1 acre at house,garage and 1 acre at house,garage and 1 acre at house,garage and 1 acre at
2.00% 2.00% 2.00% 2.00% 1.85%
Remaining Property: Remaining Property: Remaining Property: Remaining Property: Remaining Property:
First$115,000 of EMV on First$115,000 of EMV on First$115,000 of EMV on First$115,000 of EMV on First$115,000 of EMV on
first 320 acres at 0.45% first 320 acres at 0.45% first 320 acres at 0.45% first 320 acres at 0.45% first 320 acres at 0:40%
EMV in excess of$115,000 on EMV in excess of$115,000 on EMV in excess of$115,000 on EMV in excess of$115,000 on EMS(in excess of$115,000 on
first 320 acres at 1.00% first 320 acres at 1.00% first 320 acres at 1.00% first 320 acres at 1.00% first 320 acres at 0.90%
EMV in excess of$115,000 over EMV In excess of$115,000 over EMV in excess of$115,000 over EMV in excess of$115,000 over EMV in excess of$115,000 over
320 acres at 1.50% 320 acres at 1.50% 320 acres at 1.50% 320 acres at 1.50% 320 acres at 1.40%
Agricultural Non-HomesteadEMV of house,garage and EMV of house,garage and EMV of house,garage and EMV of house, First$75,000 of EMV of house,
1 acre at 2.30% 1 acre at 2.30% 1 acre at 2.30% garage and 1 acre at 2.30% galrage and 1 acre at 1.90%
EMV of land and other buildings EMV of land and other buildings EMV of land and other buildings EMV of land and other buildings EMV in excess of$75,000 of
at 1.50% at 1.50% at 1.50% at 1.50% house,garage and 1 acre
at 2.10%
EMV of land and other buildings
at 1.40%
Commercial-Industrial First$100,000 of EMV at 3.00% First$100,000 of EMV at 3.00% First$100,000 of EMV at 3.00% First$100,000 of EMV First$150,000 of EMV
EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 at 3.00% at 2.70%
at 4.60% at 4.60% at 4.60% EMV in excess of$100,000 EMV in excess of$150,000
at 4.60% at 4.00%
Seasonal/Recreational Non-Commercial Non-Commercial Non-Commercial Non-Commercial Non-Commercial
Residential First$72,000 of EMV at 2.00% First$72,000 of EMV at 2.00% First$72,000 of EMV at 2.00% First$72,000 of EMV at 1.75% First$75,000 of EMV
EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 at 1.40%
at 2.50% at 2.50% at 2.50% at 2.50% EMV in excess of$75,000
Commercial-2.30% Commercial-2.30% Commercial-2.30% Commercial-2.30% at 2.50%
Commercial-2.10%
Vacant Land N/A N/A N/A N/A NIA
(All vacant land is reclassified (All vacant land is reclassified (All vacant land is reclassified (All vacant land is reclassified (All vacant land is reclassified
to highest and best use to highest and best use to highest and best use to highest and best use to highest and best use
pursuant to local zoning pursuant to local zoning pursuant to local zoning pursuant to local zoning pursuant to local zoning
ordinance) ordinance) ordinance) ordinance ordinance
APPENDIX III
SELECTED ANNUAL FINANCIAL STATEMENTS
Excerpts from the City's annual financial statements from the years ended December 31, 1996,
1995 and 1994 are presented on the following pages. The City's financial statements are
audited annually by an independent certified public accounting firm. Governmental funds and
expendable trust funds are accounted for using the modified accrual basis of accounting.
Proprietary funds are accounted for using the accrual basis of accounting. The readers should
be aware that the complete financial statements may contain additional data relating to the
information presented here, which may interpret, explain or modify it.
I
III-1
CITY OF ST. ANTHONY
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1996 (With Comparative Totals for 1995)
Governmental Fund Types Proprietary Fund Types - Account Groups
-- -
----------------------------------------------- ----------------------- ------------------ Totals
Special Debt capital Internal General General (Memorandum Only)
General Revenue Service Project Enterprise Service Fixed Long-Term ----------------------------
ASSETS AND OTHER DEBITS Fund Funds Funds Funds Funds Fund Assets Debt 1996 1995
Cash and Investments $883,822 $155,998 $2,101,850 $5,126,461 $5,186,217 $251,242 $13,705,590 $14,114,117
Accounts and Other Receivables 4,657 2,000 242,969 249,626 318,569
Taxes Receivable 6,549 628 2,448 15,420 25,045 21,621
Special Assessments Receivable 218,662 11,157 235,819 291,382
Due from Other Funds 300,000 1,080,840 84,770 1,465,610 149,201
Due from Other Governmental Units 42,846 427,948 174,500 645,294 589,769
Inventory, at Cost 317,669 317,669 452,064
Prepaid Items and Other Assets 74,407 24,055 43,006 141,468 151,543
Property, Plant and Equipment, at Cost 1,459,176 $6,134,587 7,593,763 4,502,860
Amounts Available in Debt Service Funds $2,101,279 2,101,279 1,675,739
Amounts to be Provided for Debt 4,636,721 4,636,721 3,893,761
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- -------------
Totals $1,312,281 $156,626 $2,322,960 $6,693,881 $1,423,537 $336,012 $6,134,587 $6,738,000 $31,117,884 $26,160,626
LIABILITIES, EQUITY AND OTHER CREDITS
Liabilities
Accounts Payable $115,343 $3,071 $3,277 $900,326 $157,094 $1,179,111 $362,045
Accrued Payroll and Related Items 53,541 21,934 $349,542 $8,000 433,017 400,782
N Due to Other Funds 19,073 1,361,767 84,770 1,465,610 149,201
Other Accrued Liabilities 3,124 32,823 35,947 44,334
Deferred Revenue and Deposits 300,000 218,404 443,047 120,269 1,081,720 765,134
Bonds Payable 90,000 6,730,000 6,820,000 5,735,000
----------- ----------- ----------- -----------
----------- ----------- ----------- ------------- -------------
Total Liabilities 491,081 3,071 221,681 2,705,140 506,890 349,542 6,738,000 11,015,405 7,456,496
----------- ----------- ----------- -----------
----------- ----------- ----------- ------------- -------------
Fund Equity
Contributed Capital 737,104 737,104 806,443
Investment in General Fixed Assets $6,134,587 6,134,587 2,813,125
Retained Earnings
Reserved 5,285,788 5,285,788 5,037,234
Unreserved 893,755 (13,530) 880,225 978,575
Fund Balance
Reserved 25,480 2,101,279 2,126,759 ,105,851
7
Unreserved - Designated 795,720 153,555 3,988,741 4,938,016 7,362,902
----------- ----------- ----------- -----------
----------- ----------- ----------- ------------- -------------
Total Fund Equity 821,200 153,555 2,101,279 3,988,741 6,916,647 (13,530) 6,134,587 20,102,479 16,704,130
---7------- ----------- ----------- -----------
----------- ----------- ----------- ------------- -------------
Totals $1,312,281 $156,626 $2,322,960 $6,693,881 $7,423,537 $336,012 $6,134,587 $6,738,000 $31,117,884 $26,160,626
1 I 1 1 1 I
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111-3
CITY OF ST. ANTHONY
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1994
Governmental Fund Types Proprietary Fund Types Account Groups
----------------------------------------------- ----------------------- ----------------------- Totals
Special Debt Capital Internal General General (Memorandum Only)
General Revenue Service Project Enterprise Service Fixed Long-Term ----------------------------
ASSETS AND OTHER DEBITS Fund Funds Funds Funds Funds Fund Assets Debt 1994 1993
Cash and Investments $894,529 $140,369 $1,357,996 $3,801,185 $4,715,847 $216,872 $11,126,798 $10,174,028
Accounts and Other Receivables 1,122 13,880 2,463 221,789 239,254 321,496
Taxes Receivable 43,422 10 923 44,355 76,395
Special Assessments Receivable 134,174 29,211 163,385 137,159
Due from Other Funds 28,437 28,437 49,657
Due from Other Governmental Units 21,261 218,701 104,583 344,545 173,350
Inventory, at Cost 454,640 454,640 400,644
Prepaid Items and Other Assets 47,616 10,511 54,411 112,538 97,948
Property, Plant and Equipment, at Cost 1,812,114 $2,383,425 4,195,539 4,327,434
Amount Available in Debt Service Funds $1,352,262 1,352,262 1,230,581
Amounts to be Provided for Debt 1,198,973 1,198,973 1,210,274
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- -------------
Totals $1,007,950 $154,259 $1,521,530 $4,062,071 $7,363,384 $216,872 $2,383,425 $2,551,235 $19,260,726 $18,196,966
LIABILITIES, EQUITY AND OTHER CREDITS
Liabilities
Accounts Payable $131,460 $15,140 $3,148 $24,582 $183,633 $357,963 $418,058
Accrued Payroll and Liabilities 43,809 133,071 $216,872 $11,235 404,987 369,797
Due to Other Funds 28,437 28,437 49,651
Deferred Revenue and Deposits 42,900 134,174 247,912 119,430 544,416 408, 418
Bonds Payable 290,000 2,540,000 2,830,000 2,835,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- -------------
Total Liabilities 246,606 15,140 137,322 272,494 726,134 216,872 2,551,235 4,165,803 4,080,930
----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- -------------
Fund Equity
Contributed Capital 858,119 858,119 924,246
Investment in General Fixed Assets $2,383,425 2,383,425 2,327,530
Retained Earnings
Reserved 4,745,927 4,745,927 4,472,594
Unreserved 1,033,204 1,033,204 1,032,187
Fund Balance
Reserved 29,717 1,384,208 1,413,925 1,258,083
Unreserved - Designated 731,627 139,119 3,789,577 4,660,323 4,103,396
----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- -------------
Total Fund Equity 761,344 139,119 1,384,208 3,789,577 6,637,250 - 2,383,425 15,094,923 14,118,036
----------- ----------- ----------- -----------
----------- ----------- ----------- ------------- -------------
Totals $1,007,950 $154,259 $1,521,530 $4,062,071 $7,363,384 $216,872 $2,383,425 $2,551,235 $19,260,726 $18,1981966
CITY OF ST. ANTHONY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
FOR THE YEAR ENDED DECEMBER 31, 1996 (With Comparative Totals for 1995)
Totals
Special Debt Capital (Memorandum Only)
General Revenue Service Project --------------------------
Fund Funds Funds Funds 1996 1995
Revenues
General Property Taxes $1,544,415 $15,661 $641,595 $354,377 $2,556,048 $2,311,206
Special Assessments 76,050 7,933 83,983 121,336
Licenses and Permits 124,672 124,672 111,868
Intergovernmental Revenues 703,498 4,367 86,095 793,960 675,095
Charges for Current Services 461,242 94,492 555,734 540,383
Fines and Forfeitures 74,250 74,250 81,918
Other Revenues 190,001 17,352 15,193 1,013,601 1,236,147 545,358
------------ ------------ ------------ ------------ ------------ ------------
Total Revenues 3,098,078 37,380 732,838 1,556,498 5,424,794 4,387,164
------------ ------------------------ ------------ ------------ ------------
Expenditures
General Government 578,702 578,702 572,779
Public Safety 1,630,229 1,630,229 1,545,143
Public Works 476,917 476,917 425,574
Park Maintenance 37,684 37,684 39,991
Other 42,552 36,060 2,085 80,697 60,372
Debt Service 781,689 781,689 582,196
= Improvement Costs and Other 5,607,214 5,607,214 1,669,489
(r ------------ ------------ ------------ ------------ ------------ ------------
Total Expenditures 2,166,084 36,060 783,774 5,607,214 9,193,132 4,895,544
------------ ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues Over Expenditures 331,994 1,320 (50,936) (4,050,716) (3,768,338) (508,380)
------------ ------------ ------------ ------------ ------------ ------------
Other Financing Sources (Uses)
Proceeds from Sale of Bonds 291,758 1,407,602 1,699,360 3,454,600
Transfers from Other Funds 165,000 100,000 208,717 1,854,047 2,327,764
Transfers to Other Funds (537,217) (100,000) (52,394) (1,573,153) (2,262,764) 48,285
------------ ------------ ------------ ------------ ------------ ------------
Total Other Financing Sources (Uses) (372,217) - 448,081 1,688,496 1,764,360 3,502,885
------------ ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues and Other
Sources Over Expenditures and Other Uses (40,223) 1,320 397,145 (2,362,220) (2,003,978) 2,994,505
Fund Balance Beginning of Year 861,423 152,235 1,675,739 6,379,356 9,068,753 6,074,248
Residual Equity Transfers 28,395 (28,395) - -
------------ ------------ ------------ ------------ ------------ ------------
Fund Balance End of Year $821,200 $153,555 $2,101,279 $3,988,741 $7,064,775 $9,068,753
CITY OF ST. ANTHONY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
FOR THE YEAR ENDED DECEMBER 31, 1995
Totals
Special Debt Capital (Memorandum Only)
General Revenue Service Project --------------------------
Fund Funds Funds Funds 1995 1994
Revenues
General Property Taxes $1,434,723 $15,467 $548,227 $312,789 $2,311,206 $2,264,398
113,019 8,317 121,336 153,307
Special Assessments
111,868 46,929
Licenses and Permits 111,868
Intergovernmental Revenues 664,083 4,503 6,509 675,095 673,656
Charges for Current Services 441,680 98,703 540,383 216,266
Fines and Forfeitures 1,918 81,918 87,415
1661,142 30,070 13,497 ----340,649 545,358 432,442
Other Revenues
------------ ------------ ------------ ---- - -- ------------ ------------
Total Revenues 2,895,414 50,040 674,743 766,967 4,387,164 3,874,413
------------ ------------ ------------ ------------ ------------ ------------
Expenditures 572,779 557,080
General Government 572,719
1545,143 1,545,143 1,332,133
,
Public Safety 425,574 413,801
425,574 39,991 40,775
Public Works
' Park Maintenance 39,991
23,448 36,924 60,372 136,699
Other 582,196 582,196 552,345
Debt Service 170,602 1,498,887 1,669,489 680,650
Improvement Costs and Other ------------
------------ ------------ ------------
------------ ----------
Total Expenditures 2,606,935 36,924 752,798 1,498 887 4,895,544 3,713,483
-
------------ ------------ ------------
------- ---- ------------ -----------
Excess (Deficiency) of Revenues Over Expenditures 288,479 -----13,116 (78,055) (731,920) (508,380) 160,930
-
------------ ------- ------------ --- --- ----
--------- --------- -------
Other Financ)ng Sources (Uses) 12,800 3,441,800 3,454,600 730,715
Proceeds from Sale of Bonds (215,000)
Payment to Agent for Refunded Bonds (47,665) 284,350 48,285 36,124
Transfers from (to) Other Funds (188,400) -
------------ ------------ ------------
------------ ------------ ------------
Total Other Financing Sources (Uses) (188,400) - (34,865) 3,726,150 3,502,885 ----551,839-
------------ ------------ ------------ ------------ -----------
Excess (Deficiency) of Revenues and Other
100,019 13,116 (112,920) 2,994,230 2,994,505 112,769
Sources Over Expenditures and Other Uses
Fund Balance Beginning of Year 761,344 139,119 1,384,208 3,789,577 6,074,248 5,361,479
Residual Equity Transfers ----------- (404,451) - -
------------ ------------ - ------------ -----
Fund Balance End of Year $861,423 $152,235 $1,675,739 -$6,379_356- -$9_068.753- -$6,074,248-
CITY OF ST. ANTHONY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
FOR THE YEAR ENDED DECEMBER 31, 1994
Totals
Special Debt Capital (Memorandum Only)
General Revenue Service Project ---------------------------
Fund Funds Funds Funds 1994 1993
Revenues
General Property Taxes $1,338,218 $21,955 $604,662 $299,563 $2,264,398 $2,055,594
Special Assessments 144,509 8,798 153,307 51,136
Licenses and Permits 46,929 46,929 58,135
Intergovernmental Revenues 661,937 4,452 7,267 673,656 1,033,667
Charges for Current Services 141,428 74,838 216,266 59,115
Fines and Forfeitures 87,415 87,415 116,835
Other Revenue 166,632 37,025 8,438 220,347 432,442 379,766
------------ ------------
------------ ------------ ------------ ------------
Total Revenues 2,442,559 63,432 757,609 610,813 3,874,413 3,754,248
------------ ------------
------------ ------------ ------------ ------------
Expenditures
General Government 557,080 557,080 557,605
Public Safety 1,332,133 1,332,133 1,170,882
Public Works 413,801 413,801 391,312 ,
Park Maintenance 40,775 40,775 32,104
J Other 99,423 37,276 136,699 116,958
Debt Service 552,345 552,345 512,853
Improvement Costs and Other 680,650 680,650 1,652,110
------------ ------------ ------------ ------------ ------------ ------------
Total Expenditures 2,443,212 37,276 552,345 680,650 3,713,483 4,433,824
------------ ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues Over Expenditures (653) 26,156 205,264 (69,837) 160,930 (679,576)
------------ ------------ ------------ ------------ ------------ ------------
Other Financing Sources (Uses)
Proceeds from Sale of Bonds 213,065 517,650 730,715 462,950
Payment to Agent for Refunded Bonds (215,000) (215,000)
Transfers from (to) Other Funds 1,147 (49,702) 84,679 36,124 47,375
------------ ------------ ------------ ------------ ------------
Total Other Financing Sources (Uses) 1,147 (51,637) 602,329 551,839 510,325
- ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues and Other
Sources Over Expenditures and Other Uses 494 26,156 153,627 532,492 712,769 (169,251)
Fund Balance Beginning of Year 818,934 580,275 1,230,581 2,731,689 5,361,479 5,507,585
Residual Equity Transfers (58,084) (467,312) 525,396 - 23,145
------------ ------------ ------------ ------------ ------------ ------------
Fund Balance End of Year $761,344 $139,119 $1,384,208 $3,789,577 $6,074,248 $5,361,479
CITY OF ST. ANTHONY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1996
General Fund Special Revenue Funds Totals (Memorandum Only)
---------------------------------------- ---------------------------------------- ----------------------------------------
Variance- Variance- Variance-
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
Revenues
General Property Taxes $1,546,391 $1,544,415 ($1,916) $15,671 $15,661 ($10) $1,562,062 $1,560,076 ($1,986)
Licenses and Permits 55,680 124,672 68,992 55,680 124,672 68,992
Intergovernmental Revenues 584,752 703,498 118,746 4,329 4,367 38 589,081 707,865 118,784
Charges for Current Services 454,502 461,242 6,740 454,502 461,242 6,740
Fines and Forfeitures 100,000 74,250 (25,750) 100,000 74,250 (25,750)
Other Revenue 114,000 190,001 76,001 10,000 17,352 7,352 124,000 207,353 83,353
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Revenues 2,855,325 3,098,078 242,753 30,000 37,380 7,380 2,885,325 3,135,458 250,133
------------ ------------ ------------------------ ------------ ------------ ------------ ------------ ------------
Expenditures
,
General Government
674,575 578,702 95,873 674,575 518,702 95,873
Public Safety 1,684,900 1,630,229 54,671 1,684,900 1,630,229 54,671
Public Works 503,650 476,917 26,733 503,650 476,917 26,733
Park Maintenance 57,200 37,684 19,516 57,200 37,684 19,516
Other 25,000 42,552 (17,552) 20,000 36,060 (16,060) 45,000 78,612 (33,612),
- ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Expenditures --2,945,325 2,766,084 ----179,241 ----20,000 -----36,060- (16,060) 2,965,325 2,802,144 163,181
OD -- ------------ ---- ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues
Over Expenditures (90,000) 331,994 421,994 10,000 1,320 (8,680) (80,000) 333,314 413,314
Other Financing Sources (Uses)
Transfers from (to) Other Funds 90,000 (372,217) (462,211) (100,000) - 100,000 (10,000) (372,217) (362,217)
------------ ------------ ------------------------ ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues and
Other Sources Over Expenditures
and Other Uses $ - (40,223) ($40,223) ($90,000) 1,320 $91,320 ($90,000) (38,903) $51,097
Fund Balance Beginning of Year 861,423 152,205 1,013,628
------------ ------------ ------------
Fund Balance End of Year $821,200 $153,525 $974,725
1
CITY OF ST. ANTHONY
COHBI14ED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1995
General Fund Special Revenue Funds Totals (Memorandum Only)
---------------------------------------- ---------------------------------------- ----------------------------------------
Variance- Variance- Variance-
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
Revenues
General Property Taxes $1,445,193 $1,434,723 ($10,470) $15,500 $15,467 ($33) $1,460,693 $1,450,190 ($10,503)
Licenses and Permits 50,930 111,868 60,938 50,930 111,868 60,938
Intergovernmental Revenues 589,757 664,083 74,326 4,500 4,503 3 594,257 668,586 74,329
Charges for Current Services 436,490 441,680 5,190 436,490 441,680 5,190
Fines and Forfeitures 105,000 81,918 (23,082) 105,000 81,918 (23,082)
Other Revenue 105,000 161,142 56,142 10,000 30,070 20,070 115,000 191,212 76,212
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Total Revenues 2,732,370 2,895,414 163,044 30,000 50,040 20,040 2,762,370 2,945,454 183,084
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Expenditures
General Government 639,175 572,779 66,396 639,175 572,779 66,396
Public Safety 1,614,995 1,545,143 69,852 1,614,995 1,545,143 69,852
Public Works 488,900 425,574 63,326 488,900 425,574 63,326
(,O Park Maintenance 53,300 39,991 13,309 53,300 39,991 13,309
Other 26,000 23,449 21552 20,000 36,924 (16,924) 46,000 60,372 (14,372)
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------,------ ------------
Total Expenditures 2,822,370 2,606,935 215,435 20,000 36,924 (16,924) 2,842,370 2,643,859 198,511-
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues
Over Expenditures (90,000) 288,479 378,479 10,000 13,116 3,116 (80,000) 301,595 381,595
Other Financing Sources (Uses)
Transfers from (to) Other Funds 90,000 (188,400) (278,400) (100,000) - 100,000 (10,000) (188,400) (178,400)
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues and
Other Sources Over Expenditures
and Other Uses $ - 100,079 $100,079 ($90,000) 13,116 $103,116 ($90,000) 113,195 $203,195
Fund Balance Beginning of Year, 761,344 139,119 900,463
------------ ------------
Fund Balance End of Year $861,423 $152,235 $1,013,658
CITY OF ST. ANTHONY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL - GENERAL AND SPECIAL REVENUE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1994
General Fund Special Revenue Funds Totals (Memorandum Only)
---------------------------------------- ----------------------------------------
-----------------------------Variance-
Variance- Variance-
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
Revenues
General Property Taxes $1,330,173 $1,338,218 $8,045 $16,000 $21,955 $5,955 $1,346,173 $1,360,173 $14,000
Licenses and Permits 48,200 46,929 (1,271) 48,200 46,929 (1,271).
Intergovernmental Revenues 601,177 661,937 60,760 4,000 4,452 452 605,177 666,389 61,212
Charges for Current Services 140,250 141,428 1,178 140,250 141,428 1,178
Fines and Forfeitures 100,000 87,415 (12,585) 100,000 87,415 (12,585)
Other Revenue 109,800 166,632 56,832 25,000 37,025 12,025 134,800 203,657 68,857
------------ ------------ ------------ ------------ ------------ ------------ -----
Total Revenues
2,329,600 2,442,559 112,959 45,000 63,432 18,432 2,374,600 2,505,991 131,391
------------ ------------ ------------ ------------ ------------ ------------ ------------ ---------
Expenditures
General Government 628,746 557,080 71,666 628,746 557,080 71,666
Public Safety 1,297,800 1,332,133 (34,333) 1,291,800 1,332,133 (34,333)
'., 461,654 413,801 47,853
Public Works 461,654 413,801 47,853
O Park Maintenance 52,200 40,775 11,425 52,200 40,775 11,425
Other 54,200 99,423 (45,223) 20,000 37,276 (17,276) 74,200 136,699 (62,499)
---------••-- ------------ - ------------ ------------ ------------ ------------ ------------
Total Expenditures 2,494,600 2,443,212 51,388 20,000 37,276 (17,276) 2,514,600 2,480,488 34,112
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
Excess (Deficiency) of Revenues
Over Expenditures (165,000) (653) 164,347 25,000 26,156 1,156 (140,000) 25,503 165,503
Other Financing Sources (Uses) 100,000 65,000 1,147 (63,853)
Transfers from (to) Other Funds 165,000 1,147 (163,853) (100,000)
------------ ------------ ---- ------------ ------------ ------------ --
--------
Excess (Deficiency) of Revenues and
Other Sources Over Expenditures
and Other Uses $ - 494 $494 ($75,000) 26,156 $101,156 ($75,000) 26,650 $101,650
Fund Balance Beginning of Year 818,934 580,275 1,399,209
Residual Equity Transfer (58,084) (467,312) (525,396)
------------
-----------
-
Fund Balance End of Year $761,344 ---$139.119- ---$900_463-