Laserfiche WebLink
N;III ERS ANI) ASSOCIA'rk.,s, INC. <br />FINANCIAL SPECIALISTS <br />FIRST NATIONAL-SOO LINE CONCOURSE 507 MARQUETTE AVE. MINNEAPOLIS, MINNES01A 55402 339-9291 IAREA CODE 6121 <br />March 22, 1985 /U <br />Tom Kuehn <br />Finance Director <br />Orono City Hall <br />Box 66 <br />Crystal Bay, MN 55323 <br />Re: Local improvement financing; three assessment options <br />As we have discussed by phone, the attached exhibits will update <br />that material furnished October 11 (amended October 31), 1984 with <br />regard to your local improvement financing currently under con- <br />sideration. The amount of the bond issue has been structured as <br />follows: <br />Contract costs <br />$691,588 <br />Engineering and related costs <br />92,604 <br />Legal, fiscal, administrative <br />21,000 <br />Capitalized interest (9 mos., <br />9.50% est.) <br />65,000 <br />$870,192 <br />Less investment earnings <br />(12,000) <br />Funds needed <br />$858,192 <br />Plus discount allowance <br />16,808 <br />Bond issue $875,000 <br />The amounts of the three assessment options has been computed by <br />dividing the total assessments in each of the three options ($660,000 <br />if 75a assessed; $440,000 if 501k assessed, and $220,000 if 251 <br />assessed) by the 83 properties you have indicated are involr,J'. <br />Don't hesitate to call with any questions. <br />Sincerely, <br />EHLERS AND ASSOCIATCS, INC. <br />i <br />Carolyn Drude <br />Vice President cd/enc <br />