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other Highlighted Changes - Besides the installation of <br />sidewalk on either side of County 15, principal changes are turn <br />lanes particularly in the vicinity of: <br />- Co. Rd. 19 & 15 plus revised signal light installation <br />- Co. Rd. 15 at Casco Point Road <br />- Co. Rd. 15 at Dunwoody Avenue <br />ISSUE 2. FINANCING - <br />Tapes of Funding - While the City had conceptually <br />considered utilization of its MSA funds for its portion of the <br />project, the fact that not all of the City's costs can be borne <br />by the MSA fund (about $15,500) and the fact that there is a <br />penalty related to its use, the City has explored the following <br />general means for funding. <br />- A. General Tax Funds - This would be frog a City's <br />general tax b-u-d-g 61C that would be applied . rectly to <br />payment of the cost related to this project. This would <br />probably be levied over a 10 year period to pay off the <br />bonds and interest for the project cost. While the City <br />could internally finance it and charge interest the City <br />would probably not be able to take the additional amount <br />outside its levy limit. <br />- B. Special Assessments - This would be after following <br />the appropriate procedure for public hearings etc. This <br />would be funded by levying an assessment against the <br />benefitted property owners directly abutting the <br />project. Payment would proably be over 10 years and <br />would include both principal and interest. <br />- C. Municipal State Funds - These funds are for the <br />construction and maintenance of the City's 10 miles of <br />designated Municipal State Aid Roads. <br />As noted, the use of these for a County State Aid <br />Highway (CSAH) would result in a penalty for other MSA <br />City projects. The City is currently updating the <br />City's MSA capital improvement plan to determine the <br />impact of the penalty prior to a final recommendation. <br />The net impact of funding this entire project from MSA <br />is about $210,000 in lost money for the project. <br />- D. Storm Sewer District - Because of problems <br />that municipalities have experienced in the levying of <br />special assessments for storm sewer projects where it <br />was difficult to prove benefit to the person at the top <br />of the hill who contributes storm water to the person at <br />the bottom of the hill, the Legislature enacted <br />legislation to allow Cities to set up storm sewer <br />districts and have a general tax levy or user fee levied <br />against properties in those districts. This is also <br />3 <br />