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RESOLUTION # 84 -4 <br />RESOLUTION ESTABLISHING A POLICY FOR MUNICIPAL COSTS RELATING <br />TO BONDED LOCAL IMPROVEMENTS FOR PRIVATE DEVELOPERS. <br />WHEREAS, in response to DeLaHunt Voto & Co., Ltd's Management <br />Report and Recommendations stating the need for a <br />policy to recoup municipal costs on improvement <br />projects, it is recommended that the City of Lino <br />Lakes should adopt such a policy as it relates to <br />municipal costs for public improvement projects <br />requested by developers for bonding, and <br />WHEREAS, these municipal costs would include the following: <br />1. Negotiating financing <br />2. Preparation of official statements <br />3. Management and annual review of assessment <br />records, and <br />WHEREAS, the City would apply a percentage against the total <br />project cost and the total amount of reimburseable <br />funds for each project will be distributed annually <br />based on the length of the bond debt, <br />NOW THEREFORE, BE IT RESOLVED, that: <br />The Lino Lakes City Council hereby adopts the following step <br />down approach recommended for use on improvement projects: <br />Project Cost <br />$1.00 - 10,000.00 <br />over 10,000.00 - 50,000.00 <br />over 50,000.00 - 100,000.00 <br />over 100,000.00 <br />% applied by City <br />5% <br />4% <br />3% <br />2% <br />Passed by the Lino Lakes City Council this Is day <br />of ,,L.PA , 1984. <br />ATTEST: <br />24) (I(Aa-Aitz}3 <br />Edna L. Sarner, Clerk <br />