HomeMy WebLinkAboutCC RES 99-036 A RESOLUTION AUTHORIZING A DEBT ANALYSIS STUDY FOR THE CITY OF ST. ANTHONY Meeting Sheet
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104898
Box: 31
Folder: RES 1999
Document: CC RES 99-036 A RESOLUTION AUTHORIZING A DEBT
ANALYSIS STUDY FOR THE CIN OF ST. ANTHONY
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CITY OF ST. ANTHONY
RESOLUTION 99-036
A RESOLUTION AUTHORIZING A DEBT ANALYSIS
STUDY FOR THE CITY OF ST. ANTHONY
WHEREAS, the St. Anthony City Council desires to have prepared a debt study analysis for
the City of St. Anthony with the objective of analyzing the impacts identified
capital improvements will have on the City's legal debt limit and capacity and
on the different categories of tax payers.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of St. Anthony
hereby authorizes Springsted, Public Finance Advisors, to perform the debt study analysis for
the City of St. Anthony at an estimated cost of$7,850.00.
• Adopted this 114 day of -V , 1999.
ayor
ATTEST:
City Clerk
Reviewed by Administration: 40W
ity M ger
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85 E.SEVENTH PLACE,SUITE 100
SAINT PAUL,MN 55101-2887
651-223-3000 FAX:651-223-3002
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SPRINGSTED
Public finance Advisors
April 15, 1999 -,fA
Mr. Mike Mornson, City Manager
City of St. Anthony
3301 Silver Lake Road
St. Anthony, MN 55418-1699
Dear Mr. Mornson:
Please find enclosed for your review the final work plan that will result in a debt analysis for the
City of St. Anthony. Using this work plan as an outline, we propose to work with the City to
develop a debt plan that will benefit the City of St. Anthony.
The objective of this analysis is to study the impact identified capital improvements will have on
. the City's legal debt limit and capacity. It will also review the impacts on the different categories
of taxpayers.
To gather the information necessary to complete this study, representatives of Springsted
Incorporated will need to work directly with the City and, if necessary, your consulting
engineers. We will need a list of defined projects and their proposed funding sources.
Feel free to call me at (651) 223-3047 if you have any questions. I look forward to working with
you on this project. Thank you for your consideration.
Yours truly,
Robert D. Thistle, Senior Vi e President
Manager of Client Development
smm
cc: Mr. David L. Wettergren, Consultant, Management Services
Enclosure
SAINT PAUL,MN • MINNEAPOLIS,MN • BROOKFIELD,WI • OVERLAND PARK,KS • WASHINGTON,DC DESO NES,IA
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SPRINGSTED
Public Finance Advisors
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CITY OF ST. ANTHONY, MINNESOTA
DEBT ANALYSIS STUDY
Proposed Work Plan
Work Plan
Objective
To study the impact identified capital improvements will have on the City's legal debt limit and
capacity. It will also review the impacts on the different categories of taxpayers.
Tasks
• . Meet with City staff to review background information and Study assumptions
Review debt policies, existing debt, and current assessment practices for capital
improvements
Incorporate previous TIF studies
Review City Capital Improvement Plan, including Engineer cost estimates and time frames
Street projects, including MSA funding
Flood mitigation projects
Salvation Army property purchase
Park development
Others, as identified by the City
Develop a debt plan for the City
Illustrate the City's debt capacity
Determine funding sources for capital improvements
Determine impact on City's legal debt limit
Present tax impacts on different categories of property taxpayers
Outcomes
• Prepare a draft debt plan for the City's review and comment
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CITY OF ST. ANTHONY, MINNESOTA
DEBT ANALYSIS STUDY
• Proposed Work Plan
• Incorporate the City's comments into the final plan
• Present the final plan
• Prepare 10 copies of the final plan for the City
Compensation
We propose to bill on an hourly basis; however, our fee for services, exclusive of any out-of-
pocket expenses such as travel and copying, will not exceed $7,850 without prier written
authorization of the City. The estimated time to complete the work is 10 weeks. Our standard
hourly fee table and estimated time schedule are shown below.
Estimated Time and Cost
City Street Financing and Debt Analysis
Time
Title Rate Mrs.) Cost
Review Principal $150 2 $ 300
• Client Representative 125 6 750
Project Manager 125 48 6,000
Support Staff 40 20 800
Total 76 $7,850
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