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Request for Council Action continued <br />Page 4 <br />September 10, 1998 <br />Proposed 1999 Budget and Tax Levy - Resolutions <br />L <br />Capital Projects <br />The 1999 budget reflects a number of substantial capital projects ranging from roadwav <br />reconstruction, to sewer and water infrastructure projects, to park improvements^ ^ <br />1. <br />2. <br />3. <br />1 y99. All three of these projects are to be funded with MSA ftmds The Citv’s <br />current MSA funds are sufficient to fund the County Road 15 and County Road 6 <br />projects. The Femdde Road reconstruction project will require using approximately <br />1 1/2 years of the City ’s future MSA allocation. The future years aLcation is <br />available to the City at no interest. The City does not have any high priority MSA <br />projects scheduled in the next few years. The next two MSA projects were to be the <br />reconstraction of the Willow Drive bridge and the reconstruction of Stubbs Bay <br />Road; however, the Willow Drive bridge will be reconstructed as part of the <br />Highly 12 upgrade project. Mn/DOT is also funding the cul-de-sacing of Stubbs <br />Bay Road at Highway 12, along with a mill and overlay of Stubbs Bay Road from <br />Highway 12 to Watertown Road. <br />working with the Edgewood Hills and Webber Hills <br />A sewjr project to serve the Heritage Lane area is currently underway. The City will <br />provide interim fin^cing for this project through a loan from the sewer operating <br />fund. Ttos loan will be repaid from proceeds of a bond issue that will include the <br />costs of the Hentage Lane sewer project as well as the Edgewood Hills and Webber <br />Hi s projects if they are approved by the residents of each neighborhood. The City <br />will proceed with a bond issue as soon as the Edgewood Hills and Webber Hills <br />sewer projects are firmed up in terms of costs and neighborhood approval. <br />Water projects. The Navarre water treatment plant rehabilitation project will begin <br />in approximately October of 1998 to be completed in March of 1999 The project <br />will be funded through a combination of water fund reserves, assessments to <br />benefited properties and a loan from the City ’s building fund. Planned consistent <br />increases in water rates of approximately 3% per year will enable repayment of the