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i«m ■ "'"fl iiiailiilte fmrn.m mmwmwm^mmmm «saki:;:a •■ i^SSfr mmMl V :Administrator November 3, 1089 Pago 2le contracts were permitted by 1980 Legislature action and ere not ppropriation. While there is disagreement among finance attorneys of this amendment to Minnesota Statutes, Section 485.71. there I support for the idea that a Housing and Redevelopment Authority lopment Authority may issue revenue bonds foot subject to annual enter into an installment contract with the City as purchaser. )e City are special levies because there is no non-appropriation <br />D one school of thought. <br />stween the three borrowing choices outlined aro: <br />Is pledge the full faith, credit and taxing powers of the City to <br />ibt” for debt limit purposes and may be pdd from q>ecial levies <br />A vote is required. <br />es the City entering into a lease agreement which contains a <br />e. In other words, at the end of any ualendar year, the City could <br />te funds for the next year. Although It is unlikely the City would <br />is no statutory authority for a City to enter into a lease on any <br />prietion”. If lease revenue bonds were issued on HRA or EDA <br />of payments enterad into the City's Foim 280 (levy limits) as <br />dually qualify as special levies (depending upon the opinion giver). <br />nancing involves the City entering into an installment purchase <br />ty which may be an HRA, EDA, building authority or a company <br />der such an arrangement. At least one legal opinion says that this <br />companying city levy for installment payments would qualify as a <br />the laf:k of non-appropriation clause. <br />Iltive proposals on bonds, direct leases or installment purchase <br />ihe cost to the City, regardless of the financing method used. <br />TES, INC. <br />tm mmm ^ M <br />‘' ' .Tr-v-' 1 <br />Pifiws <br />te?3 <br />11 <br />mmmm <br />wmimmm'i m mmrnmmmmsrnwm <br />^1e <br />■•■'jf; <br />^Mmm <br />km <br />li <br />n *'•*> ‘ ■ <br />ira <br />imisem <br />" i <br />MM <br />xkj:- <br />immimm?mm : ■ ..-jxiSife' ■■■■f mm-mm'"“m/ ."■■•M Pi---.;'tra mBQ.^RMANS^ASSOCIATESXRCHiTJi'. Ti. RE EnC'nE-RI nC inTESIi;R 3ESICNNovember 7,1989 <br />Mark Bemhaitlson <br />Cky Administrator <br />CltyofOrono <br />P.O. Box 68 <br />CiyMal Bay, MN BS323 <br />Dear Mark: <br />The fdilowina Is a priilmlnaiy timetable '*idleating the Arohlieof s work, in phased Inorements, from <br />the dote of eulhorizatlon to proceed: <br />Owner/Architect Agreement <br />Bdwrnatio Daelgn <br />Deeign Development <br />Construction Documenta <br />Blddlng/Nsgotiation <br />Construction Period <br />15% <br />1 month <br />1*1/2 months <br />20%M/2 months <br />40%a months <br />5%1 month <br />20%aJTOOtta <br />17 months <br />Sincerely. <br />David Krooe <br />Vice President <br />Boemam & Aasocietie. Inc. <br />2 3 Norl'h Jnd Si'Oft Mlnn«»polli MiantiOla SS401 617-3J9-37S2 <br />• ’••••^ <br />•■ • ., <br />■ 3gfc. <br />PwssMipaaP <br />Wl^Xm-rn <br />SMte'ilitili <br />wm'’-km/'r ' ■ ^V;.:; .u- r'.’lit:iiSSSil <br />Tm:M <br />■■■■ ■■ Jv-» ■V f j' <br />m <br />'a- <br />llMil <br />li. .•.Si- <br />m'- <br />V.-' -•■ <br />5r?‘^ <br />f krmrnmmmmmmiWPI <br />mi.:.'. ■.' ''■'- £■■ ■ <br />jBgjmsaagg^me^