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HomeMy WebLinkAboutCC PACKET 06101996 Meeting Sheet IIIIIIVIIIVIIIVIIIVIIIVIIIIIIIIIII iozzu Box: 22 Folder: CC PACKETS 1994-1998 Document: CC PACKET 06101996 H.R.A. IMMEDIATELY FOLLOWING �_ REGULAR COUNCIL MEETING. J CITY OF ST. ANTHONY. • REGULAR CITY COUNCIL MEETING AGENDA June 10,. 1996 7:00 P.M. Council Chambers I. CALL TO ORDER/PLEDGE OF ALLEGIANCE. II. ROLL CALL. III. APPROVAL OF JUNE 10, 1996 REGULAR COUNCIL MEETING AGENDA. IV. APPROVAL OF MAY 28, 1996 REGULAR COUNCIL MEETING MINUTES. V. LICENSES/PERMITS/PETITIONS. VI. PRESENTATION OF CLAIMS. A. Foster, Ojile, Wentzell & Brever - $2,600.00. B. Verified. • VII. REPORTS. A. Presentation of donation to Police and Fire Departments. B. Councilmembers. C. Mayor. D. City Manager. VIII. PUBLIC HEARINGS - None. IX. NEW BUSINESS. A. - Resolution 96-042, re: re: Issuance and sale of $1 ,770,000 general obligation taxable tax increment bonds. B. Resolution 96-037, re: Order report on street improvement project for 1997. C. Consideration of Ramsey County's proposed changes to the Supplemental Agreement for signal lights on Silver Lake Road and 39th Avenue NE. D. Ordinance 1996-004, re: Ordinance readings (1st reading). E. Consideration of the Memorandum of Understanding regarding the City conducting the 1996 School Board election. F. Review and consider options for food service at the Stonehouse. X. UNFINISHED BUSINESS. A. Ordinance 1996-003, re: Political signs (2nd reading). • XI. ADJOURNMENT. 1 CITY OF ST. ANTHONY CITY COUNCIL REGULAR MEETING MINUTES MAY 28, 1996 . 4 I. CALL.TO ORDER/ROLL CALL. 5 The meeting was called to order at 7:00 P.M. followed by the Pledge of Allegiance led by Mayor 6 Ranallo. 7 II. ROLL CALL. 8 Councilmembers Present: Ranallo, Marks, Enrooth, Wagner, and Faust. 9 Also Present: City Manager Michael Morrison and Finance Director Roger Larson. 10 III. APPROVAL OF MAY 28, 1996 COUNCIL AGENDA. 11 Motion by Marks, second by Wagner to approve the May 28, 1996 Council Agenda as presented. 12 Motion carried unanimously. 13 IV. APPROVAL OF MAY 14, 1996 COUNCIL MINUTES. 14 Motion by Wagner, second by Enrooth to approve the May 14, 1996 Council minutes as 15 presented. 0 Motion carried unanimously. 17 V. LICENSES/PERMITS/PETITIONS. 18 Motion by Marks, second by Enrooth to approve the following licenses: 19 Multiple Dwelling License: 20 3200-3225 Diamond 8 Terrace, Diamond 8 Terrace/Renewal 21 3701 Chandler Drive, Chandler Place/Renewal 22 3605-3615 - 37th Avenue N.E., Highcrest Manor/Renewal 23 3820 Macalaster Drive, Highcrest Manor/Renewal 24 Cigarette License: 25 Smart Stop Superette, 3259 Stinson Boulevard/New Owners (Formerly Stop `N' Save) 26 Service Station License: 27 Smart Stop Superette, 3259 Stinson Boulevard/New Owners (Formerly Stop `N' Save) 28 Motion carried unanimously. 29 Motion by Wagner, second by Faust to approve the following licenses and permits: 30 3.2 Beer Retail Off-Sale License: 31 Smart Stop Superette, 3259 Stinson Boulevard/New Owners (Formerly Stop `N' Save) Temporary 3.2 Beer Park Permit: June 1, 1996, Central Park, Company Picnic, R. Hodson City Council Regular Meeting Minutes May 28, 1996 Page 2 • 1 Voting on the Motion: 2 Aye: Enrooth, Faust, Ranallo and Wagner. 3 Nay: Marks. 4 Motion carried. 5 VI. PRESENTATION OF CLAIMS. 6 Motion by Marks, second by Enrooth to approve the following claims: 7 A. Dorsey & Whitney in the.amount of$279.48 for legal services rendered through April 30, 8 1996. 9 B. Foster, Ojile. Wentzell & Brever in the amount of$2,600.00 for professional services 10 rendered the month of May 1996. 11 C. 7 pages of Verified Claims as presented by the Finance Director. 12 Motion carried unanimously. 13 VII. REPORTS. 14 A. 1995 Audit Report. 15 Mayor Ranallo noted Councilmembers had studied the 1995'Audit Report at a previous • 16 work session. 17 Mr. Stuart Bonniwell, City Auditor reported the audit looked excellent. He stated there 18 were a few suggested procedural changes which could be dealt with internally. 19 Finance Director Larson explained the Aaa rating which appeared on one of the 20 documents was related to the Chandler Project and was a reflection of their financial 21 information. The City of St. Anthony has a rating of Al. 22 Motion by Marks, second by Wagner to approve the 1995 City of St. Anthony Audit 23 Report. 24 Motion carried unanimously. 25 C. Councilmembers. 26 Councilmember Wagner reported he and Mayor Ranallo had attended the Recognition 27 Night at the Middle School. He distributed a program to the rest of the Councilmembers 28 who were unable to attend the celebration at the request of Warren Rolek. He stated it 29 was a very nice evening and both the State Senator and Representative were present. 30 Wagner also reported his attendance at the farewell celebration for Dave Abrahamson. • 31 He noted the State Senator and Representative were also present for this event. City Council Regular Meeting Minutes • May 28, 1996 Page 3 1 Wagner reported his attendance at a training seminar entitled "Discipline and Discharge 2 of the Difficult Employee" which was conducted by Foster, Ojile, Wentzell & Brever. 3 He stated it contained information similar to that in the video which had been provided to 4 the Council from the League of Minnesota Cities. The seminar was informative and 5 effective. 6 Mayor Ranallo suggested the City declare one day as "Dr. Abrahamson Day" for the City 7 of St. Anthony. He suggested it be done on the last day of school. 8 Motion by Marks, second by Enrooth to determine the last day of the school year and . 9 declare it as "Dr. Abrahamson Day" for the City of St. Anthony. 10 Motion carried unanimously. 11 Councilmember Faust reported he attended, along with Councilmembers Enrooth and 12 Wagner, a meeting last Tuesday which presented the results of a Developmental Asset . 13 Survey of the 6th, 8th, 10th and 12th grade students in the St. Anthony/New Brighton 14 School District. The result gave a profile of the children's perception versus the adults 15 perception. He stated the results were enlightening and offer ideas and direction on what the community needs. He thanked the School Board for inviting the Council to the meeting. 18 Wagner noted the results of the survey will be utilized by a task force on the basis of 19 improving the community and assets of the youth. 20 Councilmember Enrooth reported his attendance at the Association of Metropolitan 21 Municipalities Banquet. He reported Fridley received the 1st place award for the project 22 "Safety Net". Anoka received a 1 st place award for"Juvenile Justice Alternative Police 23 Accountability Conferencing". Woodbury received an award for it's"Restorative Justice 24 Program". 25 Enrooth noted Village Fest is progressing nicely with the exception of the lack of 26 volunteers. 27 Marks noted an incident which was included in a previous police report. He stressed an 28 important way to crack down on crime is to keep a tight enforcement on traffic. 29 D. Mayor. 30 Mayor Ranallo reported his attendance at the school for the National School of 31 Excellence Program. He also reported his attendance at the.Kenzington 10th anniversary party. He noted some 33 of the original tenants were in attendance. All in attendance were pleased with the City Council Regular Meeting Minutes May 28, 1996 Page 4 1 building but not as pleased with the parking available. Some parking arrangements have 2 been made with Mr. Bona for parking along the side of the building in exchange for 3 maintenance of the grass. 4 Mayor Ranallo reported he had received a letter from Tom Baldin,Northwest Youth and 5 Family Services in regard to a bike ride on September 21, 1996 which would wind 6 through their service area and culminate in a central area for a picnic. They are asking if 7 the cities involved would be interested in planning city events in conjunction with the 8 ride. A meeting is scheduled for June 5, 1996 at 7:00 A.M. 9 Wagner noted there has been discussion of improving the bike route,which the Kiwanis 10 installed in 1972. If this was completed by September 21, it was a possible route for the 11 bike ride. 12 Mayor Ranallo expressed his appreciation for all the cards and calls he received during 13 his illness. 14 B. Report on Drainage District 6 15 Mayor Ranallo reported a comprehensive study had been completed in 1992 on how to 16 eliminate the water problem in this area. The conclusion was that it would require • 17 elimination of a park to allow for installation of a pond. Barr Engineering has been asked 18 to re-examine the issue as there may be an opportunity for improvement due to the 19 possibility of redevelopment of the trailer park in the area. 20 Dennis Palmer, Barr Engineering explained the three alternatives which were presented in 21 1992 had been re-examined. The three alternatives include increased downstream storm 22 sewer capacity at a cost of$6 million, construction of a combination of stormwater ponds 23 and diversion at a cost of$3 million, or flood protection of existing property. The third 24 alternative was chosen in 1992. 25 Mr. Palmer reported current analysis illustrates that the first alternative would have a cost 26 to benefit ratio of 4. The second alternative would require much of the trailer park parcel 27 to build a very large pond. It would also require a very large relief system to provide 28 capacity to carry overflow from areas North of 29th Avenue and local flows. This 29 alternative would also have a cost to benefit ratio of 4. Based on economics neither 30 alternative is feasible. 31 Mr. Palmer recommended that any developer of the trailer park parcel be required to 32 provide storage for runoff which originates in that area which will require approximately 33 one to two acres of area. 34 Mayor Ranallo noted there are less than twenty homes affected in the area. • City Council Regular Meeting Minutes May 28, 1996 • Page 5 1 Marks asked if it would be worthwhile to install larger pipes when the streets are redone 2 and obtain more land for ponding. 3 Mr. Palmer stated if larger pipes were installed and somewhere to store the water was not 4 created it could result in a bigger problem. He suggested one option would be to require 5 a larger dedication of land in exchange for allowance of a greater density on another 6 portion of the land. He stated the first best option was flood protection. The second best 7 option would be to acquire property that is a problem as it becomes voluntarily for sale. 8 The third best option would be implementation of one of the 1992 options. 9 10 E. City Manager. 11 City Manager Mornson reported there is a new law which requires cities to rule on 12 variance, conditional use permits and rezoning requests within 60 days. If a city does not 13 make a decision within 60 days, the request is automatically approved. He noted this 14 could present difficulties with ordinance changes as currently they require three readings. 15 A 60 day extension will be granted if staff requires more time to research the issue. 16 Mornson reported the Tri-Legion members have requested to donate $10,000.00 to the 17 City of St. Anthony from their charitable gambling funds. $5,000.00 for the police department and$5,000.00 for the fire department. Members will present the check at the June 10, 1996 Council meeting. They are also donating $10,000.00 to New Brighton and 20 Roseville. 21. Mornson reported last Tuesday Falcon Heights approved the police contract for the next 22 two years. Lauderdale is still reviewing the contracts. Mornson and Chief Engstrom will 23 meet with them next week. 24 Mornson noted CUB Foods was planning to have a demolition ground breaking 25 ceremony on Thursday. This event has been canceled because the contractor has already 26 taken down the walls of theAthletic building. Opus has requested one large ground 27 breaking ceremony be scheduled on June 25, 1996 from 9 A.M. to 12 A.M. They feel 28 this time schedule would invite more coverage from the media. 29 There was Council consensus that August 1, 1996 would be a more appropriate date for 30 the ground breaking. However, if this was not possible, there was consensus to hold a 31 community event at the mall on the evening of June 25, 1996 to celebrate with residents. 32 Mornson reported the Open House for the Arnie Gregory project which was scheduled for 33 next Tuesday has been canceled. It has tentatively been rescheduled for June 18, 1996 34 from 4:30 P.M. to 5:30 P.M. Invitations will be sent to Councilmembers. 0 Mornson reported Chandler Place closed and a check was received by the City for 36 $600,000.00. City Council Regular Meeting Minutes May 28, 1996 Page 6 • 1 Morrison noted staff will be presenting the City Council with an Action Plan as part of 2 the Metropolitan Livable Communities Act in June. This is a five year plan. He noted 3 the Planning Commission will be presenting the Council with a Housing Code Update. 4 Morrison reminded Council the tax increment bond sale will be on June 10, 1996. 5 Morrison reported a variance request has been received for the Roger Boney property. A 6 gas station and meat market are currently located on the site. With the proposed plan,the 7 meat market will be removed and an addition constructed which will be uniform with the 8 existing building. A canopy has been requested which will require a seven foot variance. 9 A second variance would be necessary for a parking setback. This project would also 10 require a conditional use permit. The RTC property has also been purchased to allow for 11 additional parking stalls. 12 Morrison reported most of the cooks at Apache Wells have resigned and as of June 1, 13 1996, the grill will no longer serve food. The bar will remain open and the charitable 14 gambling associations are aware of this. 15 Morrison reported Liquor Store Manager Don Perry resigned last Wednesday for personal 16 reasons. His family is relocating. He will continue employment until a new manager has 17 been determined. An advertisement has been placed in the paper and the position will 18 remain open for the next two weeks. 19 VIII. PUBLIC HEARING -None. 20 IX. NEW BUSINESS 21 A. Resolution 96-040, re: Rental Lease with Aga Khan. 22 Motion by Marks, second by Wagner to approve Resolution 96-040, allowing Aga Khan 23 Cultural Center to continue to lease space at the existing St. Anthony Village Community 24 Center on a month-to-month basis. 25 Motion carried unanimously. 26 B. Resolution 96-041. re: Rental Lease with Minnesota Swimming. 27 Motion by Marks, second by Wagner to approve Resolution 96-041, allowing Minnesota 28 Swimming to continue to lease space at the existing St. Anthony Village Community 29 Center on a month-to-month basis. 30 Motion carried unanimously. 31 C. Ordinance 1996-003. re: Political Signs , 1st Reading 1. 32 Motion by Marks, second by Wagner to approve the 1 st reading of Ordinance 1996-003, 33 relating to political signs, amending Section 1400:08 of the St. Anthony 1993 Code of 34 Ordinances. City Council Regular Meeting Minutes May 28, 1996 • Page 7 1 2 Motion carried unanimously. 3 X. UNFINISHED BUSINESS. 4 A. Ordinance 1996-002, re: Donation of Sick Leave Time ( 3rd reading_). 5 Mayor Ranallo noted this is currently allowed by the City but has been evaluated on a 6 case to case basis. 7 8 Motion by Marks, second by Enrooth to approve the 3rd reading and adopt Ordinance 9 1996-002, relating to employees' donation of sick leave time, amending Section 3 00.10 10 of the 1993 St. Anthony Code of Ordinances by adding Subd. 9. 11 Motion carried unanimously. 12 Marks noted the area along the Soo Line Railroad tracks was covered with litter and in 13 desperate need of a clean-up. Mornson stated he would communicate that to the 14 Railroad. 15 XI. ADJOURNMENT. Motion by Enrooth,second by Marks to adjourn the meeting at 8:10 P.M. 17 Motion carried unanimously. 18 Respectfully submitted, 19 Lorri Kopischke 20 Timesaver Off Site Secretarial 21 22 Mayor 23 ATTEST: 24 City Clerk ain thou illa e DATE: June 11, 1996 APPROVAL: TO: Mayor and Councilmembers FROM: Judy Monson, License Clerk ITEM: Licenses and Permits for Council Approval: Multiple Dwelling License: 2808 Silver Lane NE/Equinox Apartments/Renewal 3804 Highcrest Road/Lakehill Apartments/Renewal • 3721 Chandler Drive/Cameron Properties/Renewal 2626 Kenzie Terrace/Walker on Kenzie/Renewal Contractors License: Veit & Company, Inc./Rogers, MN/Demolition of Apache Plaza Ray's Lawn Service & Landscaping/Moundsview, MN/General Tree Trimming Card Construction/Mendota Heights, MN/working at 2855 Anthony Ln S Rainbow Treecare/St. Louis Park, MN/General Tree Trimming OPUS Corporation/Minnetonka, MN/ working at Apache Plaza - — — - Pine Cone Nursery, Coon Rapids, MN/Renewal • Foster,Ojile,Wentzell & Brever,LLC Attorneys at-Law Suite 201 Anthony Place • 2855 Anthony Lane South St.Anthony MN 55418 (612)789-1331 FAX:(612)789-2109 City of St. Anthony May 30, 1996 3301 Silver Lake Road St. Anthony MN 55418 Attention: Roger Larson In Reference To: 8001.01 Invoice# 14207 Hours Amount For professional services rendered 0.00 $2,600.00 Previous balance $2,600.00 5/30/96 Payment-thank you May'96 ($2,600.00) Balance due $2,600.00 0 Thank you for your business! Payments may be made using your VISA or MASTERCARD Effective May 1, 1996, an 6%finance charge will be added to all past due invoices. --BRC -F-I-NANCIAL- -SYSTEM - ---- --- - ------ - - -- ST . ANTHONY VILLAGE &1/96 10:03 Check Register GL540R-VO4. 30 PAGE 1 - BANK -- - VENDOR CHECK# DATE AMOUNT - LIAR LIQUOR CHECKING ACCOUNT 004225 ALLIANT FOODSERVICE 9582 05%31/96 721 . 69 004079 CHANDLER/CHRISTOPHER 9583 05/31/96 100.00 - 004102- COMER%MICHAEL 9584 05/31%96 125. 00 004112 DORIS/BRUCE 9585 05/31/96 48. 00 004120 EAGLE WINE CO 9586 05/31/96 330. 85 -- 004410 - F-IRSTAR ST ANTHONY­BANK 9587 05/31/96 4 , 190.04 -- 004411 FIRSTAR ST ANTHONY BANK 9588 05/31/96 15 ,000.00 004141 FRITZ COMPANY, INC. 9589 05/31/96 1 ,823. 04 004.1-75 GRIGGS COOPER & CO INC 9590 05/31/96 2, 104.93 004201 ' HEGGIES PIZZA 9591 05/3:1/96 92.60 004220 ,:JOHNSON BROS. LIB. 9592 05/31/96 12,691 .60 — .00001--. -- L.ARK/DAVID -- - -- - - - 9593 05/31/96 315..00 --- 004240 LEHMANN FARMS 9594 05/31/96 59. 70 004250 LUNDGREN/MATTHEW H . 9595 05/31/96 48.0.0 004272 METZ BAYING CO 9596 05/31/96 55.62 - 004380 PUBLIC EMPLOYEE R.ETIREME 9597 05/31/96 1 ,461 . 57 004360 PHILLIPS WINE & SPIRITS 9598 05/31/96 1 , 798..99 004376 PRIOR WINE CO - - 9599 05/31/96 1 , 102.67 - 004385 QUALITY WINE CO 9600 05/31/96 5, 158.57 004444 STARLITERS/KARAOKE 9601 05/31/96 300. 00 04466 SYSCO-MINNESOTA 9602 05/31/96 366. 69 004356 PERRY/DONALD 9662 05/31/96 241 . 00 004009 AETNA LIFE & CASUALTY 9663 05/31/96 8.40 004225 ALLIANT FOODSERVICE 9664 05/31/96 486. 38 - 004079 CHANDLER/CHRISTOPHER 9665 05/31/96 100.00 004102 COMER/MICHAEL 9666 05/31/96 125. 00 004112 DORIS/BRUCE 9667 05/31/96 48.00 004120 EAGLE WINE CO 9668 05/31/96 206. 33 004410 FIRSTAR ST ANTHONY BANK 9669 05/31/96 4 , 109. 63 00441-1-- - FIRSTAR ST -ANTHONY BANK 9670 05/31/96 15,000.00 -- 004141 FRITZ COMPANY, INC. ' 9671 05/31/96 1 ,912.90 004175 GRIGGS COOPER & CO INC 9672 05/31/96 7 ,801 . 88 004220 JOHNSON BROS. LIB. 9673 05/31/96 14 ,096. 13 004230 KUETHER DISTRIBUTING CO 9674 05/31/96 35, 102. 50 004250 LUNDGREN/MATTHEW H . 9675 05/31/96 48. 00 - 004272-- METZ BAKING- CO - -- 9676 05/31/96 16:22 - - 004360 PHILLIPS WINE & SPIRITS 9677 05/31/96 1 , 551 . 65 00436.1 PINNACLE DIST. 9678 05/31/96 202. 25 004375 POSTMASTER 9679 05/31./96 128.00 - 004376 PRIOR WINE CO 9680 05/31/96 2,487. 98 004380 PUBLIC EMPLOYEE RETIREME 9681 05/31/96 1 ,488.95 004385 QUALITY WINE- CO - - 9682 05/31/96- 1 ,804.65 - 004444 STARLITERS/KARAOKE 9683 65/31/96 300.00 004138 ERNIE 'S CATERING 9685 05/31/96 1.4, 182.96 004401 ST .A. LIQUOR #1 PC 9728 05/31/96 200. 76 04404 ST . A. LIQUOR #2 PC 9729 05/31/96 209. 07 00002 STONEHOUSE 9730 05/31/96 255. 60 .00003 SWORDS/BOB 9731 05/31/96 2,394. 40 --BRC--F-hNANCIAL--SYSTEM -------------- -- -- -- - -- -ST. ANTHONY—VILLAGE- 05/31/96 10:03 Check Register GL540R-VO4. 30 PAGE • BANK - -- VENDOR - - CHECK# DATE- AMOUNT - LIAR LIQUOR CHECKING ACCOUNT .00004 MIDKIFF/TERRI 9732 05%31/96 150.00 004009 AETNA LIFE & CASUALTY 9733 05/31/96 490.41 004102 COMER/MICHAF..L 9734 05/31/96-- 173-.-00 004112 DORIS/BRUCE 9735 05/31/96 48.00 004120 EAGLE WINE CO 9736 05/31/96 51 .48 ------004410---- FIRSTAR--ST—ANTHONY--BANK - 9737 05/31/96--- -- 4 , 180..52 -- 004411 FIRSTAR ST ANTHONY BANK 9738 05/31/96 15,000.00 004141 FRITZ COMPANY, INC. 9739 05/31/96 2, 164.02 .004-175 - - GRIGGS--COOPER-& - CO INC 9740 05/31/96-- 59020;48 - 004220 JOHNSON BROS. LIQ. 9741 05/31/96 4 ,910. 10 004272 METZ BAKING CO 9742 05/31/96 8.08 -----.00005-------MID K-IF-F/TERRI- -- ----- - -- - -9743-05/31/96---- -15o-oo 004380 PUBLIC EMPLOYEE RETIREME 9744 05/3.1/96 1 ,502.75 004360 PHILLIPS WINE & SPIRITS 9745 05/31/96 1 ,473.96 004376 PRIOR -WINE CO 9746 05/31/96-- 571: 50 - LIQUOR CHECKING ACCOUNT 188,297 . 50 • FINANCIAL_ SYSTEM ST . ANTHONY VILLAGE 5/96 09:53 Check Register GL540R-VO4:30 -PAGE 1 BANK VENDOR CHECK# DATE AMOUNT - FIRS--FIRST-AR --ST:---ANTHONY--CHECKING--- ---- - -- - - -- 000235 A T T INFORMATION SYST 2364 06/12/96' : 64. 11 -000120--- AMERICAN -LINEN - -- - 2365 06/12/96--- -1-4.00 - 005201 AMERICAN STORES 2366 06/12/96 25.25 .00001 AULTMAN/NIC 2367 06/1.2/96 50.00 ----008056-------AWARD--CO-OF---AMER-ICA------------ 2368 06/12/-96 ; -99..46 --- 008134 BERKLEY INS. SERVICES 2369 06/12/96 ' 377.00 000535 BUREAU OF CRIMINAL APPRE 2370 06/12/96':' 240.00 --007-164- - CARLSON -EQUIPMENT--CO--- ------ - - 2371. 06/J.2/96-- 265-.-19 - 000610 CATCO CLU-rCH & TRANS SVC 2372 06/12/96 165.34 000685 COAST TO COAST 2373 06/12/96 144.88 000625----COPY--DUPLI-CA-PING-PRODUCT-----_.---- 2374 06/12/96 65-85 --- 007178 D-ROCK CENTER & SMALL EN 2375 06/12/96:; ; 9.85 008130 DARE AMERICA 2376 06/12/96 '- 84.82 000860- ENGSTROM%RICHARD - - -- -- 2377 06/12/96-- 26-3:-00 -- .00001 FLANAGAN SALES 2378 06/12/96 511 .24 001025 G- & K ;SERVICES 2379 06/12/96 88.60 001030--- G & K SERVICES -- ----- - - 2380 06/12/96 -395:97 --- 001145 GLENWOOD INGLEWOOD 2381 06/12/96 32.80 001250 GRAINGER INC/W W 2382 06/11/96 40.33 08187--- HENNEPIN COUNTY .TREASURE 2383 06/12/96----- 426.-00 001523 HIGGINS INSURANCE AGENCY 2384 06/12/96 1 ,048.90 00.52.37 I A A I 2385 06/12/96 10.00 - 001-6130----- J C AUTO SUPPLY -- --- -- - - -2386 06/12/96-- -'7.16 -- 007358 J .R. 'S APPLIANCE DISPOSA 2387 06/12/96' 000715 L_EEF BROS 2388 06/12/96 3.67 008229 LOFFLER BUSINESS SYSTEMS 2389 06/12/96-- 107:00 008193 MCFOA TREASURER 2390 06/12/96 5.00 .00002 MCI COMMERCIAL SERVICE 2391 06/12/96 5.51 -008197 -- MCI TELECOMMUNICATIONS--------_-.-. 2392 06/12/-96---- -1-0-. 15 .00002 MIDWAY ELECTRONICS 2.393 06/12/96 168.00 002280 MIDWEST ASPHAL.T CORP 2394 06/12/96 `: 758.54 - 002380 - MINNEGASCO INC--- --- -- 2395 06/12/96 3,825:92 - 008249 MINNESOTA COUNTIES INS, 2396 06/12/96 92.00 008097 MN CITY MGMT ASSOCIATION 2397 06/12/96 60.00 --002370-- MN DEPT--HEAL1'ti---------------------- - --2398 06/12/967-7-- -92.00 007131 MN DEPT OF HEALTH 2399 06/12/96 2,991 ,08 002680 NORTHERN STATES POWER 2400 06/12/96 ' 61 .94 000045-- OFFICE DEPOT - - - - - - 2401. 06/12/96--- 985.60 - 008250 PARK SUPPLY, INC. 2402 06/12/96 24.45 007366 PARTS MIDWEST , INC. 2403 06/12/96 12.69 007217--- -- PART S _PLUS ----- -------- - 2404 06/12/96. - --:5-20 - 008233 PAYMENT PROCESSING CENTS 2405 66/12/96, 32. 10 .00003 PLETSCHER'S GREENHOUSES 2406 06/12/96 ' 103.69 008217-- POLICE INSTITUTE/THE----- -- 2407 06/12/96 - 270.-00 - 000004 RAPHAEL/JAMES 2408 06/12/96 50.00 07025 ROBINSON LANDSCAPING INC 2409 06/12/96 38.34 0031-00-- ROSEDAL_E CHEVROLET--- - --- - 2410 06/12/96-- 133.-00 -- 003315 SERCO LABORATORIES 241.1 06/12/96 360.00 BRC• FINANCIAL SYSTEM ST. ANTHONY VILI� 06/05%96 09:53 _ Check Register GL540R-VO4,30 PAGE BANK VENDOR CHECK# DATE AMOUNT ------FIRS-FIRSTAR-ST—ANTHONY-CHECKING---- ----- - --- - - -- =- - ---- -- 007304 STEPP MFG CO. , INC:. . 2412 06/12/96 303:53 007-1-81-----SUBURBAN --PROPANE--------- - 2413 06/12/96-- -----1-7-. 16 - 008202 TIMESAVER OFF SITE SECRE 2414 06/12/96 858.75 003560 TRACY PRINTING 2415 06/12/96 224.70 -- 001044 TWIN-CIT-Y JANITOR--SUPPLY-- -- ----241-6 06/-12/-96 -258..23 --- 008227 U S WEST CELLULAR 2417 06/12/96 353. 14 007341 U.S. TIRE & EXHAUST 2418 06/12/96 . 251 .70 -- 008010---UN-IFORMS- UNL-IMI-TED -- - -- - - - 2419 -06/-.12/96--- -247:66 - 005298 WARNING LITES OF MN 2420 06/12/96 89.47 003735 WASTE MGMT 2421 06/12/96 152. 19 FIRSTAR ST. ANTHONY CHECKING 17 ,788. 16 * * • TFJ CITY POST 513 (St. Anthony, New Brighton, Columbia Heights) THE-AMERICAN LEGION 400 Old Hwy. #s ::= New Brighton, Minnesota 55112 Phone 631-1124 To Whom It May Concern: Enclosed is a Lawful Gambling Form LG503 that is to be completed for gambling fund expenditures. Please complete the form and return it to Tri-City Legion Post. Upon receiving this form we will process the expenditure. You may . stop by the Post with the completed form and receive your check or we will mail the check to you. Gambling Manager Marvin Moe • -NI EMORANDUM DATE: May 28, 1996 TO: Mike Mornson, City Manager FROM: Dick Johnson, Fire Chief ITEM: CHARITABLE CONTRIBUTION We have decided that our greatest need right now would be a new audio/visual system (TV, VCR, and cart) and a new computer system. The present components of these systems have all been discarded by others and picked up and used by us for the last several years. The AN system would • cost about $1,200 and the computer system would cost about $3,000. The remainder of the funds could be used to replace the hydrant markers which have been damaged. • -.. ................. • MEMORANDUM DATE: May 29, 1996 TO: Mike Mornson, City Manager FROM: Dick Engstrom, Chief of Police SUBJECT: DONATION FROM TRI-CITY AMERICAN LEGION --------------------------------------------------------------------------------------------------- The police department will use the money donated by the American Legion to cover start up cost for a bike-patrol. Approximately $1500 will be used for the purchase of two mountain bikes and equipment. The rest will go to cover overtime and training costs. One officer and one reserve officer have already received bike patrol training. The bike patrol will be used to patrol our parks, shopping centers, and apartment • complexes. Other departments using bike patrols have experienced positive feed back from the residents. We look at this as another way to connect with the public and to enhance our Community Orientated Policing (COP) Program. • CERTIFICATION OF MINUTES RELATING TO • $1,770,0000 GENERAL OBLIGATION TAXABLE TAX INCREMENT BONDS, SERIES 1996A Issuer: City of St. Anthony, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A regular meeting, held on June 10, 1996 at 7:00 o'clock p.m., at the City Hall. Members present: Members absent: Documents Attached: Minutes of said meeting (pages): 1 through 22 RESOLUTION NO. 96- 042 RESOLUTION RELATING TO $1,770,0000 GENERAL OBLIGATION TAXABLE TAX INCREMENT BONDS, SERIES 1996A; AUTHORIZING THE ISSUANCE, AWARDING THE SALE, FIXING THE FORM AND i DETAILS, AND PROVIDING FOR THE EXECUTION AND DELIVERY THEREOF AND THE SECURITY THEREFOR 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 said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of.the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions - taken and of all documents approved by the,governing body at said meeting, so far as.they relate to said obligations; and that said 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 of such meeting given as required by law. WITNESS my hand officially as such recording officer this day of , 1996. Connie Kroeplin • (SEAL) City Clerk (This page was left blank intentionally.) • 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 three municipal liquor stores: one with on- and off-sale, one off- sale warehouse, and one on-sale store. The Liquor Fund transferred $65,000 to the General Fund in 1994 and $65,000 in 1995. City's Adopted General Fund Budgets 1996 1995 Revenues: Property Taxes and Homestead Credit $1,546,391 $1,445,193 Licenses and Permits 55,680 50,930 Intergovernmental Revenue 997,704(a) 989,097(a) Charges for Services 100,000 105,000 Miscellaneous 58,550 57,150 Transfers 165.000 165.000 Total Revenues $2,923,325 $2,812,370 Expenditures: General Government $1,882,775 $ 837,975 • Police 1,182,550(6) 1,141,945(6) Fire 430,450 414,150 Public Works 374,350 365,000 Parks 53.200 53.300 Total Expenditures $2,923,325 $2,812,370 (a) Includes revenues from Lauderdale/Falcon Heights police contracts. (b) Includes Lauderdale/Falcon Heights Police contract expenses. 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, 1995 was $171,350, as compared to a contribution of$150,568 in 1994. 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. - 13 - Labor Force Data March 1996 March 1995 Civilian Unemployment Civilian Unemployment Labor Force Rate Labor Force Rate Hennepin County 639,720 2.4% 639,102 2.6% Ramsey County 276,912 2.6 276,421 2.7 Mpls./St. Paul MSA 1,599,558 2.8 1,596,304 3.0 State of Minnesota 2,585,080 3.9 2,572,138 4.0 Source: Minnesota Department of Economic Security. 1996 data is preliminary. Summary of City Building Permits Residential 1 Total Permits Commercial/Industrial Single Family Year Number Value Number Value Number Value 1996 (to 4-30) 35 $ 1,252,100 1 $3,000,000 0 --- 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 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 1995/96 enrollment of 1,242 in kindergarten through grade 12 and employs a total staff of 187, of which 98 are teachers and administrators. • Parochial education is available at St. Charles Borromeo School, which has approximately 377 students in kindergarten through grade eight. GOVERNMENTAL ORGANIZATION AND SERVICES 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 Richard A. Enrooth Member December 31,1997 Jerome Faust Member December 31,1999 George E. Marks Member December 31,1999 George Wagner Member December 31,1997 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 seven full-time and • 23 volunteer fire fighters. The City also provides police services to the cities of Lauderdale and Falcon Heights through contract agreement. - 12 - 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. 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 March 31, 1996 Total Booked at Cost $7,774,891.01 Change in Valuation 11.621.26 Current Valuation $7,786,512.27" The amount listed is the value of the assets as of March 31, 1996. The increase in valuation of 0.15% represents a capital gain that would occur if the investments were liquidated on March 31, 1996. It is a policy of the City of St Anthony to hold all its investments till maturity_ GENERAL INFORMATION CONCERNING THE CITY The City of St. Anthony is located in Hennepin and Ramsey Counties, immediately nort h 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% 1980 7,981 (14%) 1990 7,727 (3%) 1994• 7,939 (3%) 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 240 Independent School District 282 Education 187 Apache Plaza Mall Shopping Center 115 Apache New Market Food Sales 100 Herbergers Merchandise Sales 60* * Located in Apache Plaza Mall. • Source: 1996 survey of employers. St. Anthony's industrial park has approximately 25 small or medium-sized businesses, each with employment ranging up to 50. - 11 - City Tax Levies and Collections Collected During Collected Gross Net Collection Year As of 12-30-95 Levy/Collect Lgvy(a) Levy Amount Percent Amount Percent 1995/96 $1,993,156 $1,679,803 (In Process of Collection) 1994/95 1,860,075 1,532,942 $1,499,816 97.8% $1,499,816 97.8% 1993/94 1,796,608 1,436,657 1,412,929 98.3 1,421,953 99.0 1992/93 1,694,638 1,348,683 1,265,760 93.9 1,293,476 95.9 1991/92 1,618,684 1,302,345 1,257,107 96.5 1,227,878 94.3(b) (a) The net levy excludes Homestead and Agricultural Credit Aid("HA CA'). Beginning in 1993194 the net levy is the basis for computing the 1994195 and 1993194 tax capacity rates. The gross levy is the basis for computing tax capacity rates in prior years. (b) The decrease in tax collections, subsequent to the collection year, resulted from refunds to taxpayers, based on court rulings of petitions and abatements, which were not finalized until after the collection year. FUNDS ON HAND As of March 31, 1996 Fund Cash and Investments General $ 421,095 Special Revenue 262,848 HRA Fund 2,628,164 Capital Equipment 9,665 Debt Service: Taxes and Special Assessments 377,657 Tax Increment 1,344,906 Capital Projects 1,731,469 Community Center 11,109 Enterprise 4,792,798 Miscellaneous 183.391 Total $11,763,102 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): 1. Interest-only or Principal-only backed securities. 2. Any mortgage derivative security that: a. has an expected average life greater than ten years; b. 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; - 10 - Indirect Debt Debt Applicable to 1995 Taxable G.O. Debt Tax Capacity in City Taxing Unit(a) Net Tax Capacity As of 4-2-96(b) Percent Amount Hennepin County $1,006,485,910 $ 60,360,000 0.39% $ 235,404 Ramsey County 353,111,616 127,095,00001 0.57 724,442 ISD 282 (St. Anthony- New Brighton) 7,067,033 6,210,000 84.38 5,239,998 Northeast Metro Intermediate District 336,986,588 8,535,000(d) 0.59 50,357 Hennepin County Park District 723,669,485 13,955,000 0.55 76,753 Metropolitan Council 1,907,286,072(0 23,465,000(e) 0.32 75,088 Metropolitan Transit District(c) 1,728,983,006(0 67,560,000 0.35 236.460 Total $6,638,502 (a) Only those taxing units which have outstanding general obligation debt are presented here. W Excludes general obligation debt supported by revenues and revenue-supported debt. (c) Includes$17,570,000 of general obligation capital improvement bonds dated June 1, 1996. (d) Includes$6,335,000 of general obligation school building refunding bonds dated May 1, 1996. (e) Metropolitan Council also has outstanding $459,520,000 of general obligation sewer bonds and loans which are supported by sewer system revenues. Represents 1994 taxable net tax capacity value. 1995 values are not yet available. Debt Ratios Including This Issue G.O. G.O. Indirect 8 Direct Debt' Direct Debt To 1995 Indicated Market Value 1.53% 3.54% Per Capita (7,939 - 1994 Metropolitan Council Estimate) $637 $1,473 Excludes general obligation debt supported by revenues. CITY TAX RATES, LEVIES AND COLLECTIONS Tax Capacity Rates for a City Resident in Hennepin County 1995/96 For 1991/92 1992/93 1993/94 1994/95 Total Debt Only Hennepin County 34.327% 35.839% 37.441% 37.454% 37.270% 2.375% City of St. Anthony 19.972 23.479 26.160 26.031 28.507 2.015 ISD 282 (St. Anthony) 53.664 61.122 66.481 65.790 76.430 8.137 Special Districts' 5.996 6.042 6.200 6.357 6.900 1.312 Total 113.959% 126.482% 136.282% 135.632% 149.107% 13.839% • R 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 Ill.) - 9 - - -- - - 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 Principal & Interest(a) 1996 (at 4-2) (Paid) $ 46,608.75 (Paid) $ 78,191.25 1997 $ 55,000 147,100.00 $ 540,000 826,052.50 1998 100,000 188,677.50 365,000 616,682.50 1999 100,000 184,005.00 175,000 413,938.75 2000 105,000 184,095.00 265,000 493,472.50 2001 105,000 178,942.50 275,000 489,347.50 2002 115,000 183,405.00 255,000 455,105.00 2003 115,000 177,490.00 265,000 450,712.50 2004 120,000 176,336.25 280,000 450,435.00 2005 135,000 184,542.50 300,000 453,955.00 2006 140,000 182,097.50 310,000 446,372.50 2007 145,000 179,258.75 330,000 447,670.00 2008 150,000 176,010.00 355,000 452,397.50 2009 160,000 177,218.75 375,000 450,532.50 2010 130,000 138,835.00 395,000 447,177.50 2011 85,000 87,507.50 165,000 198,937.50 2012 180,000 201,000.00 2013 190.000 197,125.00 Total $1,760,000(b) $2,592,130.00 $5,020,000(c) $7,569,105.00 (a) Includes this Issue at an assumed average annual rate of 7.4%. (b) 68.1%of this debt will be retired within ten years. (c) 60.4%of this debt will be retired within ten years. Revenue Debt Principal Year Principal & Interest 1996 (at 4-2) (Paid) $ 4,487.50 1997 $ 85,000 91,850.00 1998 90.000 92.362.50 Total $175,000 $188,700.00 Summary of Debt Gross Less: Debt Net Debt Service Funds(a) Direct Debt G.O. Debt Supported Primarily by Special Assessments $1,760,000 $ (377,657) $1,382,343 G.O. Debt Supported by Tax Increments 5,020,000 (1,344,906) 3,675,094 Revenue Debt 175,000 (b) 175,000 (a) Debt service funds are as of March 31, 1996 and include money to pay both principal and interest. • (b) Paid directly from revenues of the enterprise funds. - 8 - 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 April 2, 1996 $6,251,966 General Obligation Debt Supported Primarily by Special Assessments Principal Date Original Final Outstanding of Issue Amount Pur ose Maturitv As of 4-2-96 8-1-93 $470,000 Improvements 2-1-2009 $ 420,000 6-1-94 525,000 Improvements 2-10-2010 515,000 3-1-95 825,000 Improvements 2-1-2011 825.000 Total $1,760,000 General Obligation Debt Supported by Tax Increments Principal Date Original Final Outstanding of Issue Amount Purpose Maturitv As of 4-2-96 1-1-91 $1,550,000 Tax Increment Refunding 2-1-1998 $ 560,000 1-1-94 215,000 Tax Increment Refunding 2-1-2001 170,000 12-1-95 2,650,000 Tax Increment 2-1-2010 2,520,000 7-1-96 1,770,000 Taxable Tax Increment (this Issue) 2-1-2013 1370.000 Total $5,020,000 Revenue Debt Principal Date Original Final Outstanding of Issue Amount Purpose Matu ritv As of 4-2-96 10-1-92 $405,000 Liquor Store Refunding 1-1-1998 $175,000 is - 7 - 1995 Taxable Net Tax Capacity: $5,962,847 1995 Net Tax Capacity $6,034,163 Less: Captured Tax Increment Tax Capacity (604,260) ! Contribution to Fiscal Disparities (275,870) Plus: Distribution from Fiscal Disparities 808.814 1994 Taxable Net Tax Capacity $5,962,847 1995 Taxable Net Tax Capacity by Property Class Real Estate: Residential Homestead $3,180,936 53.4% Non-Homestead Residential 1,075,132 18.0 Commercial/Industrial, Railroad and Public Utility' 1,573,053 26.4 Personal Property 133.726 2.2 Total $5,962,847 100.0% ' Reflects adjustments for fiscal disparities and captured tax increment tax capacity. Trend of Values Assessor's Indicated Estimated Taxable Tax Market Value(a) Market Value Capacity(b) 1995 $330,791,852 $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 1991 324,378,870 310,106,200 6,495,623 (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 111 for an explanation of tax capacity. Ten of the Largest Taxpayers in the City 1995 Net Taxpayer Type of Property Tax Capacity St. Marie Company Shopping Mall $ 261,678 Glaser Financial Group Inc. Apartment 240,550 St. Anthony Nursing Home/Chandler Place Health Facility 199,954 Equinox Properties Apartment Buildings 170,000 Northern States Power Company Utility 117,922 St. Anthony Minneapolis, Inc. Commercial 61,682 Leslie Paper Company Manufacturer 60,592 Firstar Bank of Minnesota Bank 56,392 Individual Commercial 50,902 Village North Apartments 48.093 Total $1,267,765* Represents 21% of the City's total 1995 taxable net tax capacity. - 6 - 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. 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. 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. CITY PROPERTY VALUES 1995 Indicated Market Value of Taxable Property: $330,791,852 Calculated by dividing the county assessors' 1995 estimated market value of $312,598,300 by the aggregate 1994 sales ratio of 94.5% for the City as determined by the State Department of Revenue. (1995 sales ratios are not yet available.) 1995 Net Tax Capacity: $6,034,163 Hennepin Ramsey • County County Total Real Estate $3,844,551 $2,055,886 $5,900,437 Personal Property 97.416 36.310 133.726 Total $3,941,967 $2,092,196 $6,034,163 - 5 - will construct a 75,200 square foot Cub Foods grocery store valued at approximately $4,500,000 on a portion of the site currently occupied by Apache Plaza Mall. Construction is expected to begin in 1996 and be completed in the spring of 1997. The composition of the Issue is as follows: Project Costs $1,417,411 Capitalized Interest 285,100 Issuance Costs 40,939 Allowance for Discount Bidding 26.550 Total Bond Issue $1.770.000 SECURITY AND FINANCING In addition to its general obligation pledge, the City pledges tax increment income received from the City's Tax Increment Financing District No. 3 (Apache Plaza Project) and Chandler Place and Kenzie Terrace Housing and Redevelopment Tax Increment Districts. Annual net tax increment revenues are projected to be $209,010 upon completion of the new Cub grocery store in 1997. The annual debt service payments on the Bonds is estimated to be $206,800. Interest payments due February 1, 1997 through August 1, 1998 will be made from capitalized interest included in the Issue. The February 1, 1999 interest payment will be made from 1998 tax increment revenue collections. Thereafter, tax increment revenues collected each year.are expected to be sufficient to pay 100% of each August 1 interest payment due in the collection year and the subsequent February 1 principal and interest payment. 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 conceming the following section, "Taxability of Interest," 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. TAXABILITY OF INTEREST The interest to be paid on the Bonds is includable in gross income of the recipient for United States and State of Minnesota income tax purposes, and is subject to Minnesota Corporate and bank excise taxes measured by net income. -4 - 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. AUTHORITY AND PURPOSE The Bonds are being issued pursuant to Minnesota Statutes, Chapters 469 and 475. The proceeds of the Bonds will be used to pay a portion of the cost of acquisition of land, by Supervalu Inc., in the City's Tax Increment Financing District No. 3 (Apache Plaza). Supervalu - 3 - THE BONDS General Description The Bonds are dated as of July 1, 1996 and will mature annually on February 1, as set forth on the cover of this Official Statement, or in the event the principal amount of the bonds increases or decreases subsequent to the receipt of the proposals, the final principal maturity schedule will appear on the addendum to this Official Statement for the Bonds. The Bonds are issued in book entry form. Interest on the Bonds is payable February 1, 1997 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 (the "Registrar") on the fifteenth day of the calendar month next preceding such interest payment date. 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 r 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 alimited-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 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 - 2 - OFFICIAL STATEMENT $1,770;000* CITY OF ST. ANTHONY, MINNESOTA GENERAL OBLIGATION TAXABLE TAX INCREMENT BONDS, SERIES 1996A (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 $1,770,000 General Obligation Taxable Tax Increment Bonds, Series 1996A (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 55101-2143, 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 In order to permit bidders for the Bonds and other participating underwriters in the primary offering of the Bonds to comply with paragraph (b)(5) of Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended (the 'Rule"), the City will covenant and agree, for the benefit of the registered holders or beneficial owners from time to time of the outstanding Bonds, in the Bond Resolution, to provide annual reports of specified information and notice of the occurrence of certain events, if material, as hereinafter described (the "Disclosure Covenants"). The information to be provided on an annual basis, the events as to which notice is to be given, if material, and a summary of other provisions of the Disclosure Covenants, including termination, amendment and remedies, are set forth in Appendix II to this Official Statement. Breach of the Disclosure Covenants will not constitute a default or an "Event of Default" under the Bonds or the Resolution. A broker or dealer is to consider a known breach of the Disclosure Covenants, however, before recommending the purchase or sale of the Bonds in the secondary market. Thus, a failure on the part of the City to observe the Disclosure Covenants may adversely affect the transferability and liquidity of the Bonds and their market price. The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Bonds offered for sale. Any such increase or reduction will be in a total amount not to exceed$70,000 and will be made in multiples of$5,000 in any of the maturities. In the event the principal amount of the Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is increased or reduced. _ - 1 - (This page was left blank intentionally.) • SCHEDULE OF BOND YEARS $1,770,000 CITY OF ST. ANTHONY, MINNESOTA GENERAL OBLIGATION TAXABLE TAX INCREMENT BONDS, SERIES 1996A Cumulative Year Principal Bond Years Bond Years 2000 $80,000 286.6667 286.6667 2001 $85,000 389.5833 676.2500 2002 $90,000 502.5000 13178.7500 2003 $95,000 625.4167 13804.1667 2004 $1003000 758.3333 2,562.5000 2005 $110,000 944.1667 3,506.6667 2006 $115,000 13102.0833 4,608.7500 2007 $125,000 c 1 ,322.9167 5,931 .6667 2008 $1353000 c 1 ,563.7500 73495.4167 2009 $145,000 c 1 ,824.5833 9,320.0000 2010 $155,000 c 2,105.4167 11 ,425.4167 2011 $165,000 c 2,406.2500 13,831 .6667 2012 $180,000 c 2,805.0000 16,636.6667 2013 $190,000 c 3,150.8333 19,787.5000 Average Maturity: 11 .18 Years Bonds Dated: July 1 , 1996 Interest Due: February 1 , 1997 and each February 1 and August 1 to maturity. Principal Due: February 1 , 2000-2013 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 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 In order to permit the underwriters purchasing the Bonds to comply with paragraph (b)(5) of Rule 15c2-12, in the Resolution authorizing and ordering issuance of the Bonds the City will covenant and agree for the benefit of the holders from time to time of the Bonds, to comply with Rule 15c2-12, paragraph (b)(5). A description of the City's undertaking is set forth in the Official Statement. 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 75 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 May 14, 1996 BY ORDER OF THE CITY COUNCIL /s/ Michael Morrison City Manager - iv - 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 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, 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 tax increment income received from the City's Tax Increment Financing District No. 3, (Apache Plaza Project) and Chandler Place and Kenzie Terrace Housing and Redevelopment Tax Increment Districts. The proceeds of the bond sale will be used to pay a portion of the cost of acquisition, by Supervalu Inc., of land in the tax increment project area. TAXABILITY OF INTEREST The interest to be paid on the Bonds is includable in gross income of the recipient for United States and State of Minnesota income tax purposes, and is subject to Minnesota Corporate and bank excise taxes measured by net income. TYPE OF PROPOSALS Proposals shall be for not less than $1,743,450 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 $17,700, 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 - ii - THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: TERMS OF PROPOSAL $1,770,000* CITY OF ST. ANTHONY, MINNESOTA GENERAL OBLIGATION TAXABLE TAX INCREMENT BONDS, SERIES 1996A (BOOK ENTRY ONLY) Proposals for the Bonds will be received on Monday, June 10, 1996, until 11:00 A.M., 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 100 116th Avenue SE, Suite 100, Bellevue, Washington 98004, telephone (206) 635-3545. 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 July 1, 1996, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing February 1, 1997. 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 $80,000 2004 $100,000 2008 $135,000 2011 $165,000 2001 $85,000 2005 $110,000 2009 $145,000 2012 $180,000 2002 $90,000 2006 $115,000 2010 $155,000 2013 $190,000 2003 $95,000 2007 $125,000 The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Bonds offered for sale. Any such increase or reduction will be in a total amount not to exceed$70,000 and will be made in multiples of$5,000 in any of the maturities. In the event the principal amount of the Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is increased or reduced. - i - (This page was left blank intentionally.) • TABLE OF CONTENTS Page(s) Termsof Proposal ............................................................................................................ i-iv Scheduleof Bond Years .................................................................................................. v IntroductoryStatement ..................................................................................................... 1 ContinuingDisclosure....................................................................................................... 1 TheBonds........................................................................................................................ 2-3 Authorityand Purpose...................................................................................................... 3-4 Securityand Financing ..................................................................................................... 4 FutureFinancing............................................................................................................... 4 Litigation........................................................................................................................... 4 Legality............................................................................................................................. 4 Taxabilityof Interest........................................................................................................... 4 FinancialAdvisor.............................................................................................................. 5 Rating............................................................................................................................... 5 Certification....................................................................................................................... 5 CityProperty Values......................................................................................................... 5-6 CityIndebtedness............................................................................................................. 7-9 City Tax Rates, Levies and Collections............................................................................. 9-10 Fundson Hand................................................................................................................. 10 Investments...................................................................................................................... 10-11 General Information Concerning the City.......................................................................... 11-12 Governmental Organization and Services......................................................................... 12-13 Proposed Form of Legal Opinion ............................................................................ Appendix Continuing Disclosure ............................................................................................. Appendix II Summary of Tax Levies, Payment Provisions, and Minnesota Real Property Valuation ...................................................................... Appendix III Selected Annual Financial Statements .................................................................... Appendix IV Proposal Forms ...................................................................................................... Inserted • 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 furnished on request. • OFFICIAL STATEMENT DATED MAY 29, 1996 Rating: Requested from Moody's • NEW ISSUE Investors Service Interest on the Bonds is includable in the gross income of the recipient for federal and Minnesota income tax purposes. Interest is also.includable in taxable income of corporations and financial institutions for purposes of the Minnesota franchise tax. $1,7702000* City of St. Anthony, Minnesota General Obligation Taxable Tax Increment Bonds, Series 1996A (Book Entry Only) Dated Date: July 1, 1996 Interest Due: Each February 1 and August 1, commencing February 1, 1997 The Bonds will mature February 1 as follows: 2000 $80,000 2004 $100,000 2008 $135,000 2011 $165,000 2001 $85,000 2005 $110,000 2009 $145,000 2012 $180,000 2002 $90,000 2006 $115,000 2010 $155,000 2013 $190,000 2003 $95,000 2007 $125,000 The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Bonds offered for sale. Any such increase or reduction will be in a total amount not to exceed $70,000 and will be made in multiples of$5,000 in any of the maturities. In the event the principal amount of the Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is increased or reduced. ® 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 tax increment income received from the City's Tax Increment Financing District No. 3 (Apache Plaza Project) and Chandler Place and Kenzie Terrace Housing and Redevelopment Tax Increment Districts. The proceeds will be used to finance a portion of the costs of acquisition of land , by Supervalu Inc., in the tax increment project area. Proposals shall be for not less than $1,743,450 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 $17,700, 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 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.) The City will name the Registrar and pay for registration services. Certificates will be available for delivery at DTC within 40 days after award. PROPOSALS RECEIVED: June 10, 1996 (Monday) until 11:00 A.M., Central Time • AWARD: June 10, 1996 (Monday) at 7:00 P.M., Central Time Further information may be obtained from SPRINGSTED SPRINGSTED Incorporated, Financial Advisor to the Issuer, 85 East Seventh Place, Suite 100, PUBLIC FINANCE ADVISORS Saint Paul,Minnesota 55101 (612)223-3000 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 DES MOINES BILLINGS ROCHESTER MISSOULA COSTA MESA GREAT FALLS City of St. Anthony St. Anthony, Minnesota Re: $1,770,000 General Obligation Taxable Tax Increment Bonds, Series 1996A 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 Taxable Tax Increment Bonds, Series 1996A dated, as originally issued, as of July 1, 1996, in the total principal amount of $1,770,000 (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 g g g enforceable in accordance with their terms. 2. The principal of and interest on the Bonds are payable primarily from tax increment revenues generated from the captured net tax capacity of taxable • property within tax increment financing districts in the City, the collections of which the governing body of the City has estimated will produce amounts at least five percent in excess of the amounts needed to meet, when due, the principal and interest payments on the Bonds; but, if necessary for the payment of such principal I-1 DORS EY & WHITNEY L L P $1,770,000 General Obligation Taxable City of St. Anthony, Hennepin Tax Increment Bonds, Series 1996A and Ramsey Counties, Minnesota -2- and interest, ad valorem taxes are required by law to be levied on all taxable property in the City without limitation of rate or amount. 3. Interest on the Bonds will be includable in gross income for federal and State of Minnesota income tax purposes. r 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. 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: July 1996. • Very truly yours, I Ji 1 1-2 APPENDIX II CONTINUING DISCLOSURE • In order to permit bidders for the Bonds and other participating underwriters in the primary offering of the Bonds to comply with paragraph (b)(5) of Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934 (as in effect and interpreted from time to time, the "Rule"), the City will covenant and agree in the Bond Resolution, for the benefit of the Owners (as hereinafter defined) from time to time of any Bonds which are Outstanding, to provide annual reports of specified information and notice of the occurrence of certain events, if material, as hereinafter described (the "Disclosure Covenants"). The City of St. Anthony (the "City") is the only "obligated person" in respect of the Bonds within the meaning of the Rule for purposes of identifying the entities in respect of which continuing disclosure must be made. The City has complied in all material respects with any ' undertaking previously entered into by it under the Rule. Breach of the Disclosure Covenants will not constitute a default under the Bond Resolution or the Bonds. A broker or dealer is to consider a known breach of the Disclosure Covenants, however, before recommending the purchase or sale of Bonds in the secondary market. Thus, a failure on the part of the City to observe the Disclosure Covenants may adversely affect the transferability and liquidity of the Bonds and their market price. As used herein, "Owner" or "Bondowner" means, in respect of a Bond, the registered holder or holders thereof appearing in the bond register maintained by the Registrar or any "Beneficial Owner" (as hereinafter defined) thereof, if such Beneficial Owner provides to the Registrar evidence of such beneficial ownership in form and substance reasonably satisfactory to the Registrar. As used herein, "Beneficial Owner" means, in respect of a Bond, any person or entity which (i) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, such Bond (including persons or entities holding Bonds through • nominees, depositories or other intermediaries), or (ii) is treated as the owner of the Bond for federal income tax purposes. As used herein, a "Material Fact" is a fact as to which a substantial likelihood exists that a reasonably prudent investor would attach importance thereto in deciding to buy, hold or sell a Bond or, if not disclosed, would significantly alter the total information otherwise available to an investor from the Official Statement, information disclosed under the Disclosure Covenants or information generally available to the public. Notwithstanding the foregoing sentence, a "Material Fact" is also an event that would be deemed "material" for purposes of the purchase, holding or sale of a Bond within the meaning of applicable federal securities laws, as interpreted ' at the time of discovery of the occurrence of the event. Information to be Disclosed The City will provide, in the manner set forth under"Manner of Disclosure" below, either directly or indirectly through an agent designated by the City, the following information at the following times: Annual Information As soon as available but not later than 365 days after the end of each fiscal year of the City, commencing with the fiscal year ending December 31, 1996, the following financial information and operating data (the "Disclosure Information"): (A) The audited financial statements of the City for such fiscal year, prepared in ` accordance with generally accepted accounting principles promulgated by the r Financial Accounting Standards Board as modified in accordance with the governmental accounting standards promulgated by the Governmental II-1 Accounting Standards Board or as otherwise provided under Minnesota law, as in effect from time to time, or, if and to the extent such financial statements have not been prepared in accordance with such generally accepted accounting principles for reasons beyond the reasonable control of the City, noting the discrepancies therefrom and the effect thereof, and certified as to accuracy and completeness in all material respects by the fiscal officers of the City; and (B) To the extent not included in the financial statements referred to in paragraph (A) hereof, information of the type included in the Official Statement and set forth below for the most recent fiscal year, which information may be unaudited, but is to be certified as to accuracy and completeness in all material respects by the City's financial officer to the best of his or her knowledge, which certification may be based on the reliability of information obtained from governmental or other third party sources: 1) City Property Values; 2) City Indebtedness; and 3) City Tax Rates, Levies and Collections; Notwithstanding-the foregoing paragraph, if the audited financial statements are not available by the date specified, the City shall provide on or before such date unaudited financial statements in the format required for the audited financial statements as part of the Disclosure Information and, within 10 days after the receipt thereof, the City shall provide the audited financial statements. Any or all of the Disclosure Information may be incorporated, if it is updated as required by the Disclosure Covenants, by reference from other documents, including official statements. If the document incorporated by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Board (the "MSRB"). • If any part of the Disclosure Information can no.longer be generated because the it operations of the City have materially changed or been discontinued, such Disclosure Information need no longer be-provided if the City includes in the Disclosure Information a statement to such effect; provided however, if such operations have been replaced by other City operations in respect of which data is not included in the Disclosure Information and the City determines that certain specified data regarding such replacement operations would be a Material Fact, I then, from and after such determination, the Disclosure Information shall include such additional specified data regarding the replacement operations. I If the Disclosure Information is changed or the Disclosure Covenants are amended as permitted by the Bond Resolution, then the City is to include in the next Disclosure Information to be delivered under the Disclosure Covenants, to ' the extent necessary, an explanation of the reasons for the amendment and the effect of any change in the type of financial information or operation data provided. Certain Material Events In a timely manner, notice of the occurrence of any of the following events which is a j Material Fact (the "Material Events"): (1) Principal and interest payment delinquencies; (2) Non-payment related defaults; ' (3) Unscheduled draws on debt service reserves reflecting financial difficulties; 11-2 (4) Unscheduled draws on credit enhancements reflecting financial difficulties; (5) Substitution of credit or liquidity providers, or their failure to perform; (6) Adverse tax opinions or events affecting the tax-exempt status of the security; (7) Modifications to rights of security holders; (8) Bond calls; (9) Defeasances; (10) Release, substitution, or sale of property securing repayment of the securities; and 11) Rating changes. Certain Other Information In a timely manner, notice of the occurrence of any of the following events or conditions: (A) the failure of the City to provide the Disclosure Information at the time specified under "Annual Information" above; (B) the amendment or supplementing of the Disclosure Covenants pursuant to the Bond Resolution, together with a copy of such amendment or supplement and any explanation provided by the City under the Disclosure Covenants; and (C) the termination of the obligations of the City under the Disclosure Covenants pursuant to the Bond Resolution. Manner of Disclosure The City agrees to deliver the information described under "Information to be Disclosed" above to the following entities by telecopy, overnight delivery, mail or other means, as appropriate: (1) the information described under "Annual Information" above, to each then nationally recognized municipal securities information repository under the Rule and to any state information depository then designated or operated by the State of Minnesota as ' contemplated by the Rule (the "State Depository"), if any; (2) the information described under "Certain Material Events" and "Certain Other Information" above, to the Municipal Securities Rulemaking Board and to the State Depository, if any; and (3) the information described under "Information to be Disclosed" to any rating agency then maintaining a rating of the Bonds and, at the expense of such Bondholder, to any bondholder who requests in writing such information, at the time of transmission under clauses (1) or (2) above, as the case may be, or, if such information is transmitted with a subsequent time of release, at the time such information is to be released. Term • The Disclosure Covenants shall remain in effect until all Bonds have been paid or defeased under the Bond Resolution. Notwithstanding the preceding sentence, however, the Disclosure Covenants shall terminate and be without further effect as of any date on which the City 11-3 delivers to the Registrar an opinion of Bond Counsel to the effect that, because of legislative action or final judicial or administrative actions or proceedings, the failure of the City to comply with the Disclosure Covenants will not cause participating underwriters in the primary offering of the Bonds to be in violation of the Rule or other applicable requirements of the Securities Exchange Act of 1934, as amended, or any statutes or laws successory thereto or amendatory thereof. Amendments; Interpretation The Disclosure Covenants (and the form and requirements of the Disclosure Information) may . be amended or supplemented by the City from time to time, without notice to or the consent of the Owners of any Bonds, by a resolution of the governing body of the City filed with the Registrar accompanied by an opinion of Bond Counsel, who may rely on certificates of the City and others and the opinion may be subject to customary qualifications, to the effect that: (i) such amendment or supplement (a) is made in connection with a change in circumstances that arises from a change in law or regulation or a change in the identity, nature or status of the j City or the type of operations conducted by the City, or (b) is required by, or better complies with, the provisions of paragraph (b)(5) of the Rule; (ii) the Disclosure Covenants as so amended or supplemented would have complied with the requirements of paragraph (b)(5) of the Rule at the time of the primary offering of the Bonds, giving effect to any change in circumstances applicable under clause (i)(a) and assuming that the Rule as in effect and interpreted at the time of the amendment or supplement was in effect at the time of the primary offering; and (iii) such amendment or supplement does not materially impair the interests of the Bondowners under the Rule. If the Disclosure Information is so amended, the City agrees to provide, contemporaneously with the effectiveness of such amendment, an explanation of the reasons for the amendment and the effect, if any, of the change in the type of financial information or operating data being provided hereunder. The Disclosure Covenants are to be construed so as to satisfy the requirements of paragraph (b)(5) of the Rule. Default; Remedies If the City fails to comply with any of the Disclosure Covenants, any person aggrieved thereby, including the Owners of any Outstanding Bonds, may take whatever action at law or in equity may -appear necessary or appropriate to enforce performance and observance of any such covenant. Direct, indirect, consequential and punitive damages shall not be recoverable, however, for any default thereunder to the extent permitted by law. In no event shall a default under the Disclosure Covenants constitute a default under the Bonds or under any other provision of the Bond Resolution. i I • i 11-4 APPENDIX III SUMMARY OF TAX LEVIES, PAYMENT PROVISIONS, AND • MINNESOTA REAL PROPERTY VALUATION Following is a summary of certain statutory provisions effective through 1995 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 in reference thereto. This summary reflects changes to Minnesota property tax laws enacted by the State Legislature during the 1995 Regular Session. 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 for assessment years 1993 through 1997, the amount of increase in market value for all property classified as agricultural homestead and non-homestead, residential homestead and 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) 1/3 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 Value. Class rate percentages vary depending on the type of property as shown on the last page of this Appendix II. 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. 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 276, 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. III-1 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 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. Levy Limitations Historically, the ability of local governments in Minnesota to levy property taxes was controlled by various statutory limitations. These limitations have expired for taxes payable in 1993 and future years, but may be reinstated in the future. Under prior law the limitations generally did not affect debt service levies. For county governments, cities of 2,500 population or more, and smaller cities and towns that receive taconite municipal aid, taxes could be levied outside the overall levy limitation for, among others, bonded indebtedness_and certificates of indebtedness, unfunded accrued pension liability, social service programs and the residual income maintenance program for which the county share of costs has not been taken over by the State. III-2 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 aggregation 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. Debt service funds for the payment of principal and interest on obligations other than those described above. 10. Certain obligations to pay pension fund liabilities. 'r • 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. • III-3 l� STATUTORY FORMULAE CONVERSION OF ESTIMATED MARKET VALUE (EMV)TO NET TAX CAPACITY FOR MAJOR PROPERTY CLASSIFICATIONS Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity General Classifications Levy Year 1991 Levy Year 1992 Levy Year 1993 Levy Year 1994 Levy Year 1995 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$72,000 of EMV at 1.00% Next$42,000 of EMV at 2.00% EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$115,000 at 2.00% at 2.00% at 2.00% at 2.00% at 2.5% Residential Non-Homestead 3.50% 3.40% 3.40% 3.40% 3.40%;except certain cities of 4 or more units 5,000 population or less 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$72,000 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% Excess to 320 acres at 0.45% Excess to 320 acres at 0.45% EMV in excess of$72,000 of EMV in excess of$72,000 of EMV in excess of$72,000 of Excess over 320 acres at 0.45% Excess over 320 acres at 0.45% house,garage and 1 acre at house,garage and 1 acre at house,garage and 1 acre at 2.00% 2.00% 2.00% Next$43,000 EMV at 2.00% Next$43,000 EMV at 2.00% Excess to 320 acres at 0.45% Excess to 320 acres at 0.45% Remaining Property: Remaining Property: Remaining Property: Excess over 320 acres at 0.45% Excess over 320 acres at 0.45% First$115,000 of EMV on First$115,000 of EMV on First$115,000 of EMV on EMV in excess of$115,000 EMV in excess of$115,000 first 320 acres at 0.45% first 320 acres at 0.45% first 320 acres at 0.45% at 2.5% at 2.00% EMV in excess of$115,000 on EMV in excess of$115,000 on EMV in excess of$115,000 on Excess to 320 acres at 1.30% Excess to 320 acres at 1.30% first 320 acres at 1.00% first 320 acres at 1.00% first 320 acres at 1.00% Excess over 320 acres at 1.60% Excess over 320 acres at 1.60% 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% Agricultural Non-Homestead EMV of house,garage and EMV of house,garage and EMV of house,garage and EMV of house,garage and EMV of house,garage and 1 acre at 2.80% 1 acre at 2.50% 1 acre at 2.30% 1 acre at 2.30% 1 acre at 2.30% 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 of land and other buildings at 1.60% at 1.60% at 1.50% at 1.50% at 1.50% Commercial-Industrial First$100,000 of EMV at 3.10% 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 at 3.00% EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 at 4.75% at 4.70% at 4.60% at 4.60% at 4.60% Seasonal/Recreational Non-Commercial-2.20% 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 2.00% EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 at 2.50% at 2.50% at 2.50% at 2.50% Commercial-2.30% Commercial-2.30% Commercial-2.30% Commercial-2.30% Vacant Land 4.75% N/A N/A N/A N/A (All vacant land is reclassified (All vacant land is reclassified (All vacant land is reclassified (All vacant land is reclassified to highest and best use to highest and best use to highest and best use to highest and best use pursuant to local zoning pursuant to local zoning pursuant to local zoning pursuant to local zoning ordinance) ordinance) ordinance) ordinance) • r • APPENDIX IV SELECTED ANNUAL FINANCIAL STATEMENTS • Excerpts from the City's annual financial statements from the ears ended December 31 1995 P Y Y 1994 and 1993 are presented on the following pages. The City's financial statements are audited annually by an independent certified public accounting firm. Governmental funds and expendable trust funds are accounted for using the modified accrual basis of accounting_ Proprietary funds are accounted for using the accrual basis of accounting. The readers should be aware that the complete financial statements may contain additional data relating to the information presented here, which may interpret, explain or modify it • IV-1 sjeloi 9ZV'giZ'6t$ 691'990'9ZS 009,69s,SS 9Zt'El8'Z$ C6Z'LIIZS SWOOS'LS c8Z'909'9$ E99'996'1$ C69'991$ L99'LI0'I$ ------------ ------------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Ajjnb3 punJ LelOi CZ6'V6O'Sl OCL'VOL'91 9ZL'E18'Z - zgzlzzg,9 99C'6LE'9 6EL'919'1 9EZ'ZGk czv,kgg--- ------------ ------------- ------ ---- ----------- --------- --------- --------- ------- ------- poleUBtSaQ P8AJOSOJUA EZC'099'V Z06'Z9E'L 99E'6LE'9 SEZ,ZGL LICIEG PBAJaS8H SWUP't mlm,l 6CL'SL9'1 ZWOE a3uuLve punj POAJaS:JLjn voz'cco't SLq,9t6 pe A j S d lZ6'SVl'V PEZ'LEO'S VEZ'tCO'G soulUJ63 pauMad 519SSV pqylj jqjeUaD jul IUBWISaAUI szv'cgc'z SZ1,El8,z SWE18,z$ EV0,909 Lujldso pajnqljjuo3 611,899 cvv,goq Ajlnb3 punj ----------- ----------- ----------- ----------- ----------- ----------- --------- --------- --------- coslczk'v--- -6E9'P9E'l 009'699'9 C6Z'LI?Z C60,999 LZ6'9ZP OZ6'08Z 899,t, Yrz,091 ---------- SaOlLjqetj 19101 ------------- ------------- ----------- ----------- ----------- ----------- ----------- ----------- - eLqvA8d 5PuO8 000loce'z 000'gEL'S 000,099,9 000'911 sj�soda(j pug anuaA88 POJJGIBO 919,109- VC1,991 969'M gillm iWe9z 69Z'E satjjjtqgtj panAOOV J8t4IO ZOE'LE vcc'vv IZL,ov CWC LEt"9Z vvc,ls oog,ZE vvo'pz spun] jqqjo ol ono Soz,89E ZOL'oop 009'6$ E6Z'Ll?zt 099,101 6ZE'9C SwalI PaIeM Pug LjojAed penjo3v ELL'Zt$ 69CIS qqv,qq$ aLqeAgd slun000v C96'LSCS svo,zgcs satjtjjqglj S1103HO 113li10 (INV kiinM 'S31IIIISVII CM 9WOW61t 69L'890'9ZS 009'699'9t GZl'Cl9'ZS C6Z'LVZS 9jE'806'L$ cea'909'9S E99'996'L$ C69-9StS L9911L0,L$ Sjujoi ------------- ------------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- --- - -------- jqao jol PaplAOJd aq ol sjunowV EL6'861'1 19L'E69'E 19L'669'C spun] 83lAJOS jqa(l ul sjqvLlVAV junowV zgz,zsc,l 6CL'SL9'1 6EL'SWIS SCI'699'1 1500 Is ljuawdlnb3 pug luOLd lAjj9dOJd 6CS'961'V 098,z09,t qzl,Elq,z$ V01,09 916'Pt PZ6'SO SIBSSV JBLIJO Pug SWO11 pjvd8Jd qcG,zll C09,191 ogolzgv IS03 19 'AjolugAUI Ovg,vSv V90'a9v sio'liz SGO'LGE 9991oz SIIUfl LUIUDWUJaAOD JBqIO WOJJ on(] qvq,vvc 69L'699 Pvq,vz oos'zc spun] jeqlo wOjj ano lco,oz OWLS lcz,cz lWo9z ajqgAlaDOU SjUaWS58SSV LejoedS SOCE91 ZgVtH 061'LZ aLq9Aj8388 SOXOI Gso,z lzg,tz satqQAja3OH Ja410 Pug slun000V vsz,6cz 699'BtE Loo,ivz trzo,89 tzg,z IW9 96V9Zl'ltS LWvWvl$ E6Z'ivzt LIVE99,vt qzz,lPc gs qvz,Egg is vgz,pgl$ Oa,vvqS SlUaWlSaAUT Pug 4SOD P66t 9661 jqaa SjqSSV punj spun] spun] spun] spun] punj S11930 83HLO QNV SASSV ---------------------------- wiaj-Buoj paxii a3tAJaS ssl.jdjOW3 IDBfOJd 80lAJOS anuaABU LgJ@uuD (ALuO wnpuujowaH) LejauaD isiougo Louialul j9jjde3 jqao joloadS ----------------------- ----------------------- ----------------------------------------------- sdnojo junoo:)V sedAi punj AjvI9lj(lOJd sadAl punj jqjUaWUJaAGD 9661 'tC 83OW3030 SdnOldD IN11033V GNV SUAL UNnd 11V - 133HS 3ONVIV9 03N19WOO ANOHlNV 'IS 30 AII3 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 $18,198,966 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 49,657 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 $18,198,966 CITY OF ST. ANTHONY COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS DECEMBER 31, 1993 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 1993 1992 Cash and Investments $921,909 $606,332 $1,181,035 $2,773,760 $4,499,573 $191,419 $10,174,028 $10,508,472 Accounts and Other Receivables 26,710 5,475 28,935 260,376 321,496 266,513 Taxes.Receivable 71,500 3,620 1,275 76,395 705,018 Special Assessments Receivable 89,374 47,785 137,159 50,794 Due from Other Funds 49,657 49,657 153,473 Due from Other Governmental Units 29,162 83,741 60,447 173,350 302,730 Inventory, at Cost 400,644 400,644 384,387 Prepaid Items and Other Assets 31,424 6,047 60,477 97,948 141,253 Property, Plant and Equipment, at Cost 1,999,904 $2,327,530 4,327,434 4,203,415 Amount Available in Debt Service Funds $1,230,581 1,230,581 1,089,883 Amounts to be Provided for Debt 1,210,274 1,210,274 1,310,522 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- ------------- Totals $1,080,705 $611,807 $1,323,686 $2,941,543 $7,281,421 $191,419 $2,327,530 $2,440,855 $18,198,966 $19,116,460 LIABILITIES, EQUITY AND OTHER CREDITS Liabilities Accounts Payable $110,560 $31,532 $3,731 $87,890 $184,345 $418,058 $294,345 Accrued Payroll and Liabilities 29,454 138,069 $191,419 $10,855 369,797 353,007 Deferred Revenue and Deposits 72,100 89,374 121,964 124,980 408,418 476,843 Due to Other Funds 49,657 49,657 153,413 Bonds Payable 405,000 2,430,000 2,835,000 3,989,091 Other Long-Term Debt 50,000 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- ------------- Total Liabilities 261,771 31,532 93,105 209,854 852,394 191,419 2,440,855 4,080,930 5,316,759 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ------------- ------------- Fund Equity Contributed Capital 924,?46 924,246 783,883 Investment in General Fixed Assets $2,321,530 2,327,530 2,260,910 Retained Earnings Reserved 4,570,078 4,570,078 4,248,573 Unreserved 934,703 934,703 998,750 Fund Balance Reserved 27,502 1,230,581 1,258,083 1,115,691 Unreserved - Designated 791,432 580,275 2,731,689 ---4,103,396 4,391,894 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ---------- ------------- Total Fund Equity 818,934 580,275 1,230,581 2,731,689 6,429,027 - 2,327,530 --14,118,036- --13,799,701- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Totals $1,080,705 $611,807 $1,323,686 $2,941,543 $7,281,421 $191,419 $2,327,530 $2,440,855 $18,198,966• $19,116,460 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 Special Assessments 113,019 8,317 121,336 153,307 Licenses and Permits 111,868 111,866 46,929 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 - 81,918 81,918 87,415 Other Revenues 161,142 30,070 13,497 340,649 545,358 432,442 ------------ ------------ ------------ ------------ ------------ ------------ Total Revenues 2,895,414 50,040 674,743 766,967 4,387,164 3,874,413 ------------ ------------ ------------ ------------ ------------ ------------ Expenditures General Government 572,779 572,779 557,080 Public Safety 1,545,143 1,545,143 1,332,133 Public Works 425,574 425,574 413,801 Park Maintenance 39,991 39,991 40,775 Other 23,448 36,924 60,372 136,699 Debt Service 582,196 582,196 552,345 Improvement Costs and Other 170,602 1,498,887 1,669,489 680,650 ------------ ------------ ------------ ------------ ------------ ------------ 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 Financing Sources (Uses) Proceeds from Sale of Bonds 12,800 3,441,800 3,454,600 730,715 Payment to Agent for Refunded Bonds (215,000) Transfers from (to) Other Funds (188,400) - (47,665) 284,350 48,285 36,124 ------------ ------------ ------------ ------------ ------------ ------------ Total Other Financing Sources (Uses) (188,400) - (34,865) 3,726,150 3,502,885 551,839 ------------ ------------ ------------ ------------ ------------ ------------ Excess (Deficiency) of Revenues and Other Sources Over Expenditures and Other Uses 100,079 13,116 (112,920) 2,994,230 2,994,505 712,769 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 (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 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 ALL GOVERNMENTAL FUND TYPES FOR THE YEAR ENDED DECEMBER 31, 1993 Totals Special Debt Capital (Memorandum Only) General Revenue Service Project --------------------------- Fund Funds Funds Funds 1993 1992 Revenues General Property Taxes $1,156,415 $18,385 $600,257 $280,537 $2,055,594 $2,565,040 Special Assessments 32,263 18,873 51,136 11,337 Licenses and Permits 58,135 58,135 51,055 Intergovernmental Revenue 623,893 4,341 14,920 390,513 1,033,667 886,963 Charges for Current Services 12,722 48,605 61,327 8,881 Fines and Forfeitures 116,835 116,835 136,050 Other Revenue 132,783 39,455 6,111 199,205 377,554 329,047 ------------ ------------ ------------ ------------ ------------ ------------ Total Revenues 2,100,783 62,181 653,551 937,733 3,754,248 3,988,373 ------------ ------------ ------------ ------------ ------------ ------------ Expenditures General Government 557,605 3,268 560,873 532,901 Public Safety 1,170,882 62,897 1,233,779 1,130,054 Public Works 391,312 5,628 396,940 395,921 Park Maintenance 32,104 32,104 32,831 Other 77,987 38,971 129,327 246,285 224,919 Improvement Costs 1,450,990 1,450,990 327,467 Debt Service 512,853 512,853 383,078 ------------ ------------ ------------ ------------ ------------ ------------ Total Expenditures 2,229,890 38,971 512,853 1,652,110 4,433,824 3,027,171 Excess (Deficiency) of Revenues Over Expenditures (129,107) 23,210 140,698 (714,377) (679,576) 961,202 ------------ ------------ ------------ ------------ ------------ ------------ Other Financing Sources (Uses) Proceeds from Sale of Bonds 462_ ,950 462,950 Transfers from (to) Other Funds 147,375 (100,000) 47,375 135,000 ------------ ------------ ------------ ------------ ----------=- Total Other Financing Sources (Uses) 147,375 (100,000) 462,950 510,325 135,000 ------------ ------------ ------------ ------------ ------------ Excess (Deficiency) of Revenues and Other Sources Over Expenditures and Other Uses 18,268 (76,790) 140,698 (251,427) (169,251) 1,096,202 Fund Balance Beginning of Year 800,666 657,065 1,089,883 2,959,971 5,507,585 4,583,931 Residual Equity Transfers 23,145 23,145 (172,548) ------------ --------•---- ------------ ------------ ------------ ------------ Fund Balance End of Year $818,934 $580,275 $1,230,581 $2,731,689 $5,361,479 $5,507,585 jeOA jo Pu3 aougiog punj esq,clo,is ------------ ------------ ------------ pvc,t 91 199A 10 BUL,UUL.639 a3uvjvq punj C90'006 611'6Et J8410 pug 961'COZS 961'El 1 (0001061) 911'colt 9 L t,c 1 (000'06$) 6WOOlt 6LO'00t SOS() sainj1puadq JOAO saoinos jaqjo pug senuBAaU 10 (Aouop jao) SSO3x3 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ (000'9L I (oor,gel (000,01 000'001 (000,001) (000'9W (00p,980 000'06 spunj jo4jo (01) w0JJ S-18JS11OJI (sash) saoinoS 6upuguiJ 18,410 Ic 9WEI 000,ot 60'9LE 61P'99Z (000,06) sajn7lPuOdx3 JOAO 969'19E S69'10E (000,09) 911 sanUOA8d 10 (AouO.t3tjO0) SSODY3 ------- --------- --------- ------------ ------------ ------------ ------------ ------------ ------------ - GE6,909,z o1c,zzq,z s@jnjlpuOdx3 t9101 1 ls,961 698'CV9'Z OLE'ZPB'Z (l?Z6'91) vZ6,9E 000,02 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ J81110 (ztc'vl) ZLE'09 000,9v W6,91) PZ6'9C Ooo,oz zqq,z 8pp,cz 000lgz oouvualutOW 511ed 60CE1 166'6C OWES 60E'E1 166'60 oocicg sjjoM 3tjqnd 00 gzc,Eq . PLS'GZP 006,99p 9WC9 VLS'SZV 006'98P AjejeS otjqnd Z98'69 coilsps'l 966'Vi9'i ZGG'69 col'sps'l 966'00'1 IUOWUJ8AOD JeJGUOD 96C'99 6LL'ZLS SLI'60 96E'99 6LL'ZL9 SLI'M sajnjtpUOdw3 --------- --------- ------- --------- --------- ------ ------ ------ voo'cal---- 090'906'2-- -olc'ZgL,z ovo,oz----- -OV0,09 -000,0C----- ------------vvO,EqL 010'969'2 OLE'ZCL'Z sanuBABd Jel0i ------ ------- ------- ------ ------ ------ ------ ------- ------------ -Z zlz'gL----- W161---- -000'sli---- -OLO,Oz----- -OLD'OE----- -000,01----- Z01,99 zV1,191 000'901 anuOAGU J8410 (Zoo,cz) 9WIS 000,901 sajnllajjoj pus SOu!J (ZOO'EZ) 9W19 000'sol 061'S 099'190 06t,"9Elp OWS 089,1pv 060'9cp SOOtAJ@S juaiino Jo; Sq6JGq3 6ZC'V1 989,999 19VV69 c Eoq,v oos'p gzc,$,L E90,V99 LGL'699 sanUaABU j9jUaWUJaA06JO7Uj qC6,09 999,111 OC6,09 sltwJad Pug SOWOOtl RE6'09 899,111 OCCOG saxei AljadOJd 19JOuBD (cos,ols) 06COWIS C69'09P'it (Ecs) LWSIS oos'sis (OL17,01s) EZL,pcv,ls c6l'sop'tt senUOABU (ajqvj0AQjun) jeni3v ja6pnq (aLqgJOAVjun) (enjoy 196pnq (OLq9J0AUjun) Lonj3v 7a6pna atqejOAUJ aiqeJOAej 9jqvJ0AOj -ODUULJuA -a3ugtJVA -aDu 91JUA --------------- ------------------------- (Atuo wnpuejowaH) SLu401 spun] @nUBAaU jelaodS punj jejouaD 9661 'IC )139H3030 030N3 UV3A 3HI UOJ SONnJ 3nN3A3U 1V133dS ONV IV83N30 - 1Vn13V ONV MGM 3ONVIV9 aNnJ NI S3DNVH3 ONV mnilMdX3 'S3nN3A38 30 1N3W31V1S 03HISH00 ANOHiNV 'IS 30 AII3 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 12,025 134,600 203,657 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) 1,297,800 1,332,133 (34,333) Public Works 461,654 413,801 47,853 461,654 413,801 47,853 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) Transfers from (to) Other Funds 165,000 1,147 (163,853) (100,000) 100,000 65,000 1,147 (63,853) ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ 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 ------------ ------------ ------------ ------------ ------------ 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, 1993 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 $1,303,200 $1,156,415 (!146,785) $16,000 $18,385 $2,385 $1,319,200 $1,174,800 ($144,400) Licenses and Permits 45,450 58,135 12,685 45,450 58,135 12,685 Intergovernmental Revenues 582,450 623,893 41,443 4,000 4,341 341 586,450 628,234 41,784 Charges for Current Services 3,900 12,722 8,822 3,900 12,722 8,822 Fines and Forfeitures 100,000 116,835 16,835 100,000 116,835 16,835 Other Revenue 67,000 132,783 65,783 25,000 39,455 14,455 92,000 172,238 60,238 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Total Revenues 2,102,000 2,100,783 (1,217) 45,000 62,181 17,181 2,147,000 2,162,964 15,964 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Expenditures General Government 589,100 557,605 31,495 589,100 557,605 31,495 �. Public Safety 1,137,800 1,170,882 (33,082) 1,137,800 1,170,882 (33,082) O Public works 471,100 391,312 79,788 471,100 391,312 79,788 Park Maintenance 48,450 32,104 16,346 48,450 32,104 16,346 Other 57,550 77,987 (20,437) 20,000 38,971 (18,971) 77,550 116,958 (39,408) ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Total Expenditures 2,304,000 2,229,890 74,110 20,000 38,971 (18,971) 2,324,000 2,268,861 55,139 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Excess (Deficiency) of Revenues Over Expenditures (202,000) (129,107) 72,893 25,000 23,210 (1,790) (177,000) (105,897) 71,103 Other Financing Sources (Uses) Transfers from (to) Other Funds 165,000 147,375 (17,625) (100,000) (100,000) 165,000 47,375 (117,625) ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Excess (Deficiency) of Revenues and Other Sources Over Expenditures and Other Uses ($37,000) 18,268 $55,268 $25,000 (76,190) ($101,790) ($12,000) (58,522) ($46,522) Fund Balance Beginning of Year 800,666 657,065 1,457,731 ------------ ------------ ------------ Fund Balance End of Year $818,934 $580,275 $1,399,209 ------------ `. • MEMORANDUM DATE: June 6, 1996 TO: Mayor and Councilmembers FROM: Michael Mornson, City Manager ITEM: 1997 STREET PROJECT The City is interested in starting up the 1997 street reconstruction project. Based on studies done by consultants, the two areas of the City where the project should start next is the 27th Avenue NE area and the area of Roosevelt Street from 35th Avenue NE to 37th Avenue NE. Larry and I reviewed the street condition report and it is our opinion that 37th Avenue NE in the Roosevelt Street area is in worse condition than is the 27th Avenue NE area. With a rating of 100 being the best, parts of Roosevelt Street were rated as low as 11, • 16, 18, and 21; the highest rating in that area was 55. In the 27th Avenue NE area, lowest ratings were 31, 43, and 54; the highest rating in that area was 84. Based on these ratings, it makes sense to do the Roosevelt Street area as recommended in the letter from Rieke Carroll Muller and Associates. The 27th Avenue NE area was just seal coated, which improved its condition, and, therefore in a few years the ratings may be reduced. One idea we might want to consider is to start at the 37th Avenue NE area, then move to the 27th Avenue NE area. That way both the north and south ends of the City streets are taken care of. Obviously, if we take a year, etc. off, it would be 1 and 3 years and 5 and 7 years, etc. The schedule might look something like the following: 1 1997 35th to 37th to Harding 2 1998 Take one year off 3' 1999 27th to Coolidge, Wilson to St. Anthony Boulevard, etc. 4 2000 Take one year off 5 2001 34th to 35th, Roosevelt, Edward, Harding, 34th, Stinson to Harding 6 2002 Take one year off 7 2003 Murray, Wilson, Coolidge, Roosevelt between St. Anthony Boulevard and 29th Avenue CITY OF ST. ANTHONY RESOLUTION 96-037 A RESOLUTION ORDERING PREPARATION OF .REPORT ON IMPROVEMENT WHEREAS, it is proposed to improve Roosevelt Street from 35th Avenue NE to 37th Avenue NE and 35th Avenue NE from Stinson Boulevard to Harding Street by reconstruction of the roadways and utilities, and to assess the benefited property for all or a portion of the cost of the improvement, pursuant to Minnesota Statutes, Chapter 429. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF ST. ANTHONY, MINNESOTA: That the proposed improvement be referred to Rieke Carroll Muller Associates, Inc. for study and that they are instructed to report to the Council with all convenient speed advising the Council in a preliminary way • as to whether the proposed improvement is necessary, cost-effective, and feasible and as to whether it should best be made as proposed or in connection with some other improvement, and the estimated cost of the improvement as recommended. Adopted this day of , 1996. Mayor ATTEST: City Clerk Reviewed for administration: City Manager • i • May 29, 1996 Mr.Larry Hamer Public Works Director City of St.Anthony 3301 Silvcr Lake Road St. Anthony,MN 55418-1699 Re: Proposal for professional Engineering Services 1997 Street and Watermain Improvements St.Anthony,MN RCM Project No. 10366.00 Dear Mr.Hamer: RCM is pleased to submit this proposal to provide engineering design and construction phase services for reconstruction of street and watermain improvements in 1997.This proposal has Ic III been.developed for the following sheet segments: Roosevelt Street: 37th Avenue to 35th Avenue;and 35th Avenue: Stinson Boulevard to Harding Street. rieke carroll r per your request, we have developed preliminary construction cost estimates for both lates, ine. segments, enabling the City of St. Anthony to determine if sufficient funds are available to arrc� ecttss combine both segments into one project. Based on 1996 unit prices, construction costs are land surveyors estimated to be: e�rnp Roosevelt Street Street Improvements $224,000 Storm Sewer Improvements 45,000 Watermain Improvements 79.000 f " Total $348,000 35th Avenue Street Improvements $159,000 Storm Sewer Improvements 68,000 Watermain Improvements 20.000 build Total $247,000 f Based on our understanding of the project scope for the two segments,our proposed fees are: Roosevelt Street Feasibility Rcport $2,000 • Design and Bidding Phase 21,000 Construction Phase 30.000 10901 red circle drive Total $53,000 box 130 minrnetonka, mirinesota 55343.0130 (612) 935-6901 fd)C (612) 935-8814 Mr.Larry Hamer • May 29, 1996 Page 2 35th Avenue Feasibility Report $2,000 Design and Bidding Phase 15,500 Construction Phase 19.000 Total $36,500 (Note: Fees for Feasibility Reports are lump sum, all others are at hourly rates with not to exceed limits,) If the City of St. Anthony decides to combine both street segments into one project, we anticipate that our fees can be adjusted accordingly,as some duplication in level of effort can be eliminated. Please advise RCM as to how you wish to proceed and we will prepare a final proposal and agreement for the resulting project. If you have any questions,please contact us. Sincerely, RIEKE CARROLL MULLER ASSOCIATES,INC. • Robert L.Moberg,P,E. Hrry Koutsoumbos,P.E. Project Manager Vice President RLM/ka • TENTATIVE SCHEDULE FOR 1997 STREET RvIPROVEMENTS PROJECT Activi _ B y 1• . Order feasibility report June 10, 1996 2. Receive report and order plans and specifications July 8 1996 , 3. Hold neighborhood meeting September/October, 1996 4. Approve plans and specifications and order advertisement for bids September/October, 1996 • 5• Approve 3 resolutions on improvement hear' and special assessments mg December 15, 1996 6. Hold improvement and assessment hearings; Award bid; February, 1997 Call for bond sales 7. Award sale of bonds March, 1997 8. Construction May to August, 1997 9. Certify assessments to county auditor August, 1997 • I ]7TH ` • t no ea 31 rxc�icn 5t�nson +o Hard n5 Roos-e vel+, 3S +a 3� ' 1599 4 1 Sh I nson �D �ao` 1 � b 9e A a a a �DOSeV>`lfr a +0 a I 1 ey Cnq a a St. An-I bony Bl V�. n4,,y J3I✓d. � � 9 zo00 2001 3 44 d a u )&Anson +o )oar- ing Roosevel+) 34:�' 40 3�� E E4 u lard , 34 :!J- 'f v 3s tk • � 1 Harding, 30 u •f� Ua LDE I � R 37RD uo . /I��ll � 1 /� I ( J q� I e ld lSon S1'.,4 Own 1, Al vd. 4-o a 1 w 2 • _-,uk y P YHONYRU° 7_.. r HILLUALI r S _ . I I2 d 5W ,a]2 No a °e 1 T d c la] sr !;.Yerlr Rv..lan s I Ca11w 110 C.muu/ N t 1 2 O R Q Yo IIM+n.Y» w ul.l .a AVENUE , N.E. I 4 C 0 EE W ES. t e wr rr oor nl •..or •WESi m ARMOUR , I ,TERRACE' I ' 1100 1 1 .1 • � i g ' 29TH 1=11lislulpillil; AVENUE , . J W Q u HURRAY ¢ 1 x •� 1 I 11 I I— 4yfhUC Ij I e rsr .YI N st MANTHONY BpU,t'V4g0• 'w I 91.Clla.l.. Ca10o11< 1 .rra CIwIL! B u 8 VEN F. J N • v /�� n .. ._.. PPPf.�'�y /� Department of Public Works Paul L.Kirkwold,P.E.,Director and County Engineer ENGINEERING/OPERATIONS ADMINISTRATION/LAND SURVEY 3377 N. Rice Street 50 West Kellogg Blvd.,Suite 910 Shoreview,MN 55126 RAnAsEYCOUMY St.Paul,MN 55102• (612)'266-2600 a Fax 266-2615 (612)484-9104 • Fax 482-5232 June 3 , 1996 Mr. Michael Mornson City Administrator City of Saint Anthony 3301 Silver Lake Road Saint Anthony, Minnesota 55418 Dear Mr. Mornson: The Ramsey County Public Works Department, in cooperation with the City of Saint Anthony, is reconstructing the traffic signal on Silver Lake Road and 39th Avenue . This work is currently under contract . The cost for the reconstruction is split 50o County, 5001 City per Ramsey County agreement 94011 . After completion of the plans and award of the contract the County decided to retrofit the traffic signal heads with Light Emitting Diode (LED) indications for the red ball and don' t walk indications . This technology has recently become • more acceptable and available . Using LED indications in place of the traditional "light bulb" results in a 40o reduction in energy consumption and significantly reduces the failure rate of the light . The energy reduction directly benefits the City of Saint Anthony as ' they are the agency responsible for ' the electric costs for this traffic signal . The costs to retrofit the signal heads with LED indications is $5, 247 . 00 for the traffic signal at Silver Lake Road and 39th Avenue . This cost would .be split 50-50 between the City and County consistent with the rest of the traffic signal reconstruction costs . Z have included for review by your agency the original- of the supplemental agreement for this change to the contract . If this meets with your approval please present it to the City Council for approval and signature . Please send the signed original back to me, I will submit a fully signed copy of the supplemental agreement to the City upon execution by all parties . Thanks for your continued assistance in this project . If you have any questions or need any additional information please feel free to give me a ,call at 482-5209 . Sincerely, F• SOL%. Daniel E. Soler, P.E. Traffic -Engineer Minnesota's First Home Rule County printed on recycled paper with a minimum of 10%poalconsumer content Ramsey County Department of Public Works Supplement to 3377 North Rice Street Contract CC 000201 Shoreview,MN 55126 Sheet 1 of 1 SUPPLEMENTAL AGREEMENT NO. 2 Contractor: Contractor's Address: State Aid Project • Collins Electrical Const. Co. 278 State Street S.A.P. 62-44-18 St. Paul,MN 55107 M.S.A.P. 147-116-07 Project Location: Project Description: Account No. Silver Lake Road Traffic Signal Construction 47535 The Contract is amended as follows: This increase is to retrofit the new traffic signal heads with an LED indication for the Red ball and for the Dont Walk symbol message. Using these LED indications will reduce energy consumption by as much as 40%and will also result in fewer lamp failures. Contract time will not be revised except as may be provided under contract provisions of Mn/Dot Specifications 1806. The contractor shall not make claim of any kind or character whatsoever for any other costs or expenses which he may have incurred or which he hereafter incur in performing the work and furnishing the materials required by this agreement. ESTIMATE OF COSTS INCREASE UNIT ITEM NO. ITEM NAME UNIT PRICE QUANTITY AMOUNT SA#2 LED Indications Sys B L.S. $5,247.66 1 $ 5,247.66 SA#2 LED Indications Sys K L.S. $5,247.66 1 $5,247.66 TOTAL INCREASE $ 10,495.32 Increase to Contract S.A.P. 62-644-18 Sys B - 50 % C.S.A.H.Funds/50 %Local Sys K - 50 % C.S.A.H.Funds/50 %M.S.A.P.Funds Date Approved By County Engineer Date App ved By Project Engineer a2/ Date Approved By County Manager Date Approv By Contrac or Date Approved By Budgeting&Accounting Date Approved By Assist.D.E. State Aid Metro yb Date Approved By Chair,Ramsey Date Approved By City Of N Brighton County Board Of Commissioners - Date Approved By City Of St. Anthony STAFF REPORT • DATE: May 31, 1996 TO: Mayor and Councilmembers FROM: Michael Mornson, City Manager ITEM: ORDINANCE AMENDMENT ON READING CLASSIFICATIONS In 1995 the Legislature passed a bill that required requests for rezoning, variances, conditional uses, and etc. be heard and considered by the City within 60 days after they are submitted to the City for review. Failure to consider such requests within 60 days results in automatic approval. Denying the request within 60 days means we complied with the statute. The City can extend the time limit by 60 days by notifying the applicant prior to the first 60 days expiration, however, the City needs specific reasons to extend the initial 60 day period. The only problem we may have on this 60 day limit is the requirement of the three readings for rezoning requests. I have discussed this issue with City Attorney Bill Soth and his • recommendation is to require only one reading for rezoning, but retain the three reading requirement for everything else. Remember, the Council can always waive the other two readings. RECOMMENDATION Recommend an ordinance change to require only one reading on rezoning requests. • • CITY OF ST. ANTHONY ORDINANCE 1996-004 AN ORDINANCE RELATING TO ORDINANCE READINGS, AMENDING SECTION 200.06, SUBD. LOF THE 1993 ST. ANTHONY CODE OF ORDINANCES The City Council of the City of St. Anthony hereby ordains: Section 1. Section 200.06, Subd. 1 shall be amended to read as follows: Section 200.06 Ordinances. Resolutions. and Petitions. Subd. 1. Readings. Every ordinance will be presented in writing and will receive three readings before the Council prior to final adoption. Ordinance amendments or changes on rezoning shall only need one reading to comply with the 60 day limit set forth in the Minnesota State Statutes. However, an ordinance may be adopted at the meeting in which it is first read or at a subsequent meeting if the Council rules are • suspended for that purpose. Every ordinance introduced will be recorded in the minutes by title. Section. 2 This ordinance shall be in effect as of its date of publication. First Reading: June 10, 1996 Second Reading: Adopted: Mayor ATTEST: City Clerk Publish: St. Anthony Bulletin Date: • STAFF REPORT DATE: May 20, 1996 TO: Michael Morrison, City Manager FROM: Connie Kroeplin, City Clerk ITEM: ELECTION MEMORANDUM OF UNDERSTANDING WITH THE SCHOOL DISTRICT Last year was the first combined City/School District election. The City charged the School District 40% of the election costs for judges wages, tabulator maintenance agreement, ballots, supplies, and manhours to set up and take down the voting equipment. The School District was not charged for staff wages, equipment, postage, etc. ,There were two School Board, two Councilmembers and the Mayor on the ballot. • This year's election is quite different. First, there is not a City election. There will be a state primary on September 10th and a County, State and Federal (plus 2 seats on the School Board) on November 5th. This will involve coordination with the School District and Counties, publications will be needed for candidate filing and notification of the school election, and posting. City offices will need to be open an extra hour for filing. In addition, the Counties will need to be notified after filing closes and information on ballots will need to be coordinated with the Counties. The Counties will bill a percentage of the ballot to the School District directly for printing the ballots. Although there are many other kinds of costs to the City to run these elections, I suggest simply weighing the extra tasks that doing the school election this year entails to come up with an equitable amount to charge the School District. RECOMMENDATION Recommend Council approval of the attached Memorandum of Understanding which outlines the conduct of the election and specifies an amount of$250.00 per precinct ($750.00 total) as the School's reimbursement to the City. • CITY OF ST. ANTHONY AND ST. ANTHONY/ NEW BRIGHTON SCHOOL DISTRICT NO. 282 MEMORANDUM OF UNDERSTANDING • WHEREAS, the City of St. Anthony (the "City") and the St. Anthony/New Brighton School District No. 282 (ISD #282), in compliance with "Laws of 1995, Chapter 8" of the Minnesota State Legislature, and to better coordinate local General Elections, desire to combine the elections of the City Council and School Board and to hold said combined elections on the first Tuesday after the first Monday in November in odd numbered years beginning with the local General Election in 1995; and WHEREAS, to accomplish the combined elections and pursuant to Minnesota State Statutes, Section 205A.04, the School Board of ISD #282 has elected to hold its General Elections to coincide with City Council General Elections on odd numbered years. In addition, the School Board has established a schedule for School Board members' terms to be lengthened to expire on the January 1 st following the date on which the terms would otherwise have expired. NOW, THEREFORE, BE IT RESOLVED that: .1) the City Clerk will conduct all local General Elections; • 2) City-owned voting equipment will be used; 3) for the 199.6 ISD #282 School Board election, the School District will reimburse the City 5250.00 per precinct for a total cost of $750.00; a fee for costs associated with future local elections will be negotiated when appropriate; 4) whenever there is an ISD #282 election without City items on the ballot, ISD #282 may either conduct the election on its own or contract with the City for the services of the City Clerk to conduct the Special Election in the manner in which the combined local General Elections are conducted; 5) the City will pay the full cost of any local General Elections for which ISD No. 282 has no item on the ballot; 6) ISD #282 will hold harmless the City in the conduct of elections. CITY OF ST. ANTHONY ST. ANTHONY/NEW BRIGHTON SCHOOL DISTRICT NO. 282 Its Its Its Its • Date: Date: • MEMORANDUM DATE: June 6, 1996 TO: Mayor and Councilmembers FROM: Michael Mornson, City Manager ITEM: FOOD SERVICE CONTRACT AT THE STONEHOUSE As you know, the City has a contract with Ernie Swanson doing business as Ernie's Catering Service, to run the food operation at the Stonehouse. The contract summary is as follows: Contract Term: July 1, 1995 to June 30, 2000 Termination Options: 90 days by either party Profit and Cost Sharingi First year - City shares net profits with Ernie. We basically are • breaking even on the food, however, customers in the premises for food is up from prior years, which results in.more beverage sales - which is all profit for us. Second to Fifth year - July 1, 1996 - Ernie is paid 9% of gross whether or not a profit is made on the food. Based on year 1, the City would have paid Ernie about $1,100 per month (a $13,200 loss). Because years 2 to 5 would be cost prohibitive to.the City, Don Perry and I met with Ernie - Swanson on Wednesday, June:5th. We will meet with_him on Monday, June 10th as well. We are obviously looking at various options with Ernie, primarily because the 9% gross is not appealing to the City. Ernie Swanson is aware of this and is going to present us with a proposal on Monday to enter into a new lease where he makes us a minimum rent payment for a year to lease the kitchen for food preparation for the Stonehouse. We would then continue to make all the money on beverages, etc. Part of his proposal would be reduced food hours. Because the 9% gross starts July 1st, I feel this is important to discuss and possibly decide at the June 10th Council meeting. • The options the Council has are as follows: 1. Keep the contract as is and pay the 9% gross. This is the least appealing option for the Council. 2. Enter into a new lease with Ernie Swanson for 1 year, where he pays the City a rent payment for the kitchen similar to the old arrangement. 3. Provide Ernie with 90 day termination notice and do one of the following: - a. Discontinue food at the Stonehouse; b. Hire our own cooks and waitresses; C. Hire another food operator (this one will be the most difficult of the three). I believe with a new manager being in the process of being hired, it may be in our best interests to enter into a new 1 year lease with Ernie Swanson and to allow the new manager to monitor the situation and determine a course of action some time in early 1997. I will hand out Ernie's proposal at the Council meeting on Monday night. I may also hand out updated information on the negotiations with First Bank on the relocation of SAV 11. • • CITY OF ST. ANTHONY ORDINANCE 1996-003 AN ORDINANCE RELATING TO POLITICAL SIGNS, AMENDING SECTION 1400:08 OF THE ST. ANTHONY 1993 CODE OF ORDINANCES The City Council of the City of St. Anthony hereby ordains: Section 1. Section 1400:08 shall be amended to read as follows: Section 1400.08 Political Signs. All political signs of any size may be posted from August 1 in a State General election year until 10 days following the State general election. For a City General election,-which is the first Tuesday after the first Monday in November of odd numbered years, all political signs of any size may be posted four weeks prior to a City election until five days following the City election. For an • Independent School District Number 282 general election, which is the first Tuesday after the first Monday in November of odd numbered years, all political signs of any size may be posted four weeks prior to a school election until five days following the election. Political signs are not allowed within fifteen feet from the curb. Section 2. This ordinance shall be in effect as of the date of its publication. First Reading: May 28, 1996 Second Reading: June 10, 1996 Adopted: Mayor ATTEST: City Clerk Published in the St. Anthony Bulletin on the day of , 1996. • c • CITY OF ST. ANTHONY HOUSING AND REDEVELOPMENT AUTHORITY AGENDA June 10, 1996 I. CALL TO ORDER. II. ROLL CALL. III. APPROVAL OF JUNE 10, 1996 H.R.A. AGENDA. IV. APPROVAL OF MAY 28, 1996 H.R.A. MINUTES. V. CLAIMS. A. Ramsey County - $615.14. • B. American Engineering Testing, Inc.: 1 . $225.00. 2. $2,080.70. VI. H.R.A. RESOLUTION 1996-004, RE: APPROVE PLEDGE OF TAX INCREMENTS FOR $1 ,770,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1996. VII. OTHER BUSINESS. _.- VIII. ADJOURNMENT. , • 1 CITY OF ST. ANTHONY HOUSING AND REDEVELOPMENT AUTHORITY MEETING MINUTES MAY 28, 1996 4 I. CALL TO ORDER/ROLL CALL. 5 The meeting was called to order at 8:11 P.M. 6 II. ROLL CALL. 7 Commissioners Present: Chair Ranallo, Vice Chair Enrooth, Secretary Marks, 8 Commissioners Wagner and Faust. 9 Also Present: Executive Director Michael Momson and Finance Director Roger Larson. - 10 III. APPROVAL OF MAY 28, 1996 HRA AGENDA. 11 Motion by Marks, second by Enrooth to approve the May 28, 1996 HRA Agenda with the 12 following change: 13 After Item IV. Add: IV. A. 1995 HRA Audit Report 14 15 Motion carried unanimously. 16 IV. APPROVAL OF MAY 14, 1996 HRA MINUTES. Motion by Marks, second by Wagner to approve the May 14, 1996 HRA minutes as presented. 19 Motion carried unanimously. 20 A. 1995 HRA Audit Report 21 Stuart Bonniwell, City Auditor stated he had no concerns with the HRA audit and 22 noted there was sufficient cash flow to make all the debt service payments. He 23 noted the current cash flow balance is $5.5 million which will be reduced by $2.5 24 million as a result of building the new building. It was noted this figure did not 25 include the $1.2 million in the Capital Project Fund which the City had set aside 26 over the years for the project. He suggested-the engineer or architect cost certify 27 that the City Hall portion of the current project was at least$1.2 million to satisfy 28 the resolution because the bond proceeds have to be spent on the Community 29 Center only. 30 Motion by Marks, second by Wager to approve the 1995 HRA Audit Report as 31 presented. 32 Motion carried unanimously.. V. PRESENTATION OF CLAIMS. Motion by Wagner, second by Marks to approve the following claims: Housing and Redevelopment Authority Meeting Minutes May 28, 1996 Page 2 • 1 A. Institute for Environmental Assessment in the amount of$968.00 for professional 2 services rendered through April 30, 1996 relating to asbestos inspection. 3 B. Dorsey & Whitney in the amount of$8,921.29 for legal services rendered through 4 April 30, 1996 related to the Apache Plaza Project. 5 Motion carried unanimously. 6 VI. RESOLUTION HRA 1996-003,RE: HRA PURCHASE OF 2538 KENZIE 7 TERRACE. 8 Motion by Marks, second by Faust to approve Resolution HRA 1996-003 regarding HRA 9 purchase of 2538 Kenzie Terrace for$70,000.00. 10 Motion carried unanimously. 11 HRA members discussed improvements needed to properties on Coolidge Street, 3311. 12 Silver Lake Road, and Old Highway 8. 13 VII. ADJOURNMENT. 14 Motion by Enrooth, second by Marks to adjourn the meeting at 8:20 P.M. 15 Motion carried unanimously. • 16 Respectfully submitted, 17 Lorri Kopischke 18 TimeSaver Off Site Secretarial • Property Records-and Revenue Chris Samuel,Division Manager Tom Osthoff;Division Manager 830 Government Center West 50 West Kellogg Boulevard Fax:612-266-2022 R St.Paul,MN 55102-1696 TTD#: 266-2002 MAY 23 , 1996 Roger Larson Sr . , Finance Director City of St . Anthony 3301 Silver Lake Road St . Anthony , MN 55418 Dear- Mr. . Larson: Minnesota Statutes 469 . 176 Subd . 4h authorizes .County Auditors to obtain payment for administrative costs incurred during the calendar year 1995 related to Tax Increment Finance ( TIF ) districts . The enclosed invoice and attachment show administrative expans<2�s related to TIF districts in your City . I have also. enclosed a list of County Auditor. TIF administrative duties . -. --- -- The costs include expenses related to the creation of new TIF districts and the overall maintenance of existing ones . Any cost:= directly attributable to a particular TIF district are. billed to that district . Indllirect maintenance costs totaling $31 ,4.35, .65 are charged to 140 disc--ricts . in the County for 1995 . One half of the cost. is apportioned equally to each district ( $112 .27 each ) to, reflect fixed costs per district . The remaining half is apportioned to each district based on the number' of parcels in the district . A per parcel charge of $3 .61 is included to reflect the variable costs . Please contact Brian Erickson at 266-2048 if you have any questions regarding this bill . Sincerely , _a6vol"( v Chris Samuel., Manager Revenue Division Enclosure BE/CS Minnesota's First Home Rule County printed on recycled paper with a minimum of 10%postconaumer content INVOICE NUMBER COUNTY OF RAMSEY 1-1o"2400 40504 PROPERTY RECORDS & REVENUE-REVENUE INVOICE DATE INVOICE T 24/1'3'36 11111111111111111111111111111111111111111111111111111111 IN 101 _ Item Dept. Rev. code Amount 01 40504 300188 615 , 14 ST ANTHONY CITY Of 3801 SILVER LAKE RD ST ANTHONY MN 55418 L MAKE CHECK. PAYABLE TO RAMSEY COUNTY TOTAL MAIL- TO: 50 N KELLOGG STE 8:30 515 . 14 ST PAUL MN CUST #. 09000 01 55102-1696 TO ENSURE PROPER CREDIT PLEASE WRITE INVOICE p ON CHECK IMPORTANT IMPORTANT PLEASE DETACH AND RETURN THIS PORTION WITH PAYMENT INVOICE DATE INVOICE NUMBER PROPERTY RECORDS REVENUE-REVENUE 05/24/1996 1102400 405 04 ITEM DESCRIPTION QUANTITY UNIT PRICE AMOUNT T.I>= ADMINISTRATION EXPENSES 1995 01 ITEM NUMBER 1 1 .000 615, 1400 61 ` , 1.4 • INVOICE TOTAL 61:5 . 14 PAGE 01 OF Ol White—Customer Copy Green—Department Copy Pink—Budget S Accounting Blue—County Treasurer R 6 A 300(Rev_Mg) AMERICAN PH 612-659-9001 INVOICE 1 ENGINEERING FAX 612-659-1379 2102 UNIVERSITY AVE..W. REFERENCE: CITY HALL/COMM. TESTING,INC. ST.PAUL,MN 55114 ® INVOICE NO: 63305 SALESPERSON DATE OF INVOICE H. McCARTHY 05/30/96 TO; SHIP TO ST. ANTHONY VILLAGE ATTN: MR. MICHAEL MORNSON 3301 SILVER LAKE RD 789-8881 ST. ANTHONY, MN 55418-1699 %CCOUNTNO. DATESHIPPED I SHIPPEDVIA CO P.P. F.O.B.POINT TERMS YOUR ORDER NUMBER 434175 04/29/96 ON RECEIPT QU Y DESCRIPTION UNIT PRICE AMOUNT PROJECT: CITY HALL/COMMUNITY CENTER SILVER LAKE ROAD & 34TH AVENUE NE ST. ANTHONY, MINNESOTA ---------------------------------------- PROJECT TESTING SERVICES FROM 4/16/96 TO 5/15/96 ---------------------------------------- 0. 9 HOUR PRINCIPAL GEOTECHNICAL 95.00e 85. 50 ENGINEER 11 . 3 HOURS GEOTECHNICAL ENGINEER 70.000 791.00 140.00 MILES ENGINEER'S PERSONAL VEHICLE 0. 35e 49.00 MILEAGE 9.0 TRIPS TECHNICIAN TRIP CHARGES 25.000 225.00 CONTINUED. . . . . . . N w� You TOTAL • AMERICAN PH 612-659-9001 INVOICE ENGINEERING FAX 612-659-1379 2102 UNIVERSITY AVE..W. TESTING,INC. ST.PAUL,MN 55114 N° M(& NO: 63305 DATE OF INVOICE TO: MWPTMCCARTHY ST. ANTHONY VILLAGE CONTINUATION OF INVOICE # 63305 ACCOUNTNO. DATESHIPPED I SHIPPEDVIA CO P.P. F.O.B.POINT TERMS YOUR ORDER NUMBER QUANTITY DESCRIPTION UNIT PRICE AMOUNT 3.0 TESTS SOIL COMPACTION TESTS 18.00 0 11. 7 HOURS ENGINEERING TECHNICIAN 36.000 42 . 0 16 .0 CYLS CONCRETE CYLINDERS - TESTED 12.000 192 .00 3.0 CYLS CONCRETE CYLINDERS - UNTESTED 9.000 27 .00 4.0 TRIPS CONCRETE CYLINDER PICK-UPS 20.000 80.00 3.0 CYLS MORTAR CYLINDER COMP. TESTS 12 .000 36.00 6.0 TESTS GROUT COREFILL COMP. TESTS 20.000 120.00 PLEASE REFER TO INVOICE NUMBER 63305 WHEN REMITTING. A FINANCE CHARGE OF 1 . 5% PER MONTH ASSESSED AFTER 30 DAYS . ,Z�lank tau TOTAL 2,080. 70 CITY OF ST. ANTHONY H.'R:A. RESOLUTION 1996-004 RESOLUTION APPROVING PLEDGE OF TAX INCREMENTS • FROM APACHE PLAZA, 39TH AND SILVER LAKE ROAD, KENZIE TERRACE AND CHANDLER PLACE TAX INCREMENT FINANCING DISTRICTS TO PAY $1,770,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1996A OF THE CITY OF ST. ANTHONY BE IT RESOLVED, by the Board of Commissioners (the "Board") of the Housing and Redevelopment Authority of St. Anthony, Minnesota (the "HRA"), as follows: 1. Redevelopment Plans and Tax Increment Financing Plans. The HRA has approved a redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision 16, designated as Kenzie Terrace Redevelopment Plan, Chandler Place Redevelopment Plan, Highway Eight Redevelopment Plan, Redevelopment Plan for Redevelopment Project No. 2 and Redevelopment Plan for Redevelopment Project No. 3, together with certain amendments thereto (the "Redevelopment Plans"), and redevelopment projects to be undertaken pursuant thereto, as defined in Minnesota Statutes, Section 469.002, subdivision 14 (the "Redevelopment Projects"), and that in order to finance the public redevelopment costs to be incurred by the HRA in connection with certain of the Redevelopment Plans and the Redevelopment Projects, the HRA has approved tax increment • financing plans, pursuant to the provisions of Minnesota Statutes, Section 469.175 (the "Financing Plans"), which four establish tax increment financing districts, as defined in Minnesota Statutes, Section 469.174, subdivision 9, which are designated by the HRA as follows: Apache Plaza Tax Increment District (Tax Increment Financing District No. 3-Ramsey County), 39th and Silver Lake Road Tax Increment District (Tax Increment.Financing District No. 4-Ramsey County), Kenzie Terrace Tax Increment District (Hennepin County No. 1950) and Chandler Place Tax Increment District (Ramsey County No. 58) (the "Districts"). To finance a portion of the costs of the acquisition of land by SUPERVALU INC. in connection with a redevelopment of a portion of Apache Plaza Shopping Center the City will issue its General Obligation Tax Increment.-Bonds,-Series.1996A (the "Bonds") in the principal amount of $1,770,000, and will pledge to the payment of the Bonds tax increment derived from the Districts. 2. Approval of Pledge of Tax Increments. The issuance of the Bonds by the City to finance a portion of the costs of acquisition of land by SUPERVALU INC. is hereby approved. The HRA hereby pledges and appropriates tax increments from the Districts to the City to pay the principal of and interest on the Bonds. Such pledge is on a parity with the pledge of such tax increments to pay any other obligations of the City or HRA. The appropriate officers of the HRA are hereby authorized and directed to execute and deliver on behalf of the HRA a Pledge • Agreement between the City and HRA with respect to the pledge and appropriation of tax increment from the Districts to pay the principal of and interest on the Bonds. Dated the 10th day of June, 1996. • Chairperson Attest: Secretary • -2-