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COUNCIL MEETING <br />JU-N 101985 <br />TO: <br />Mayor <br />and C i t Council <br />CITY OF ORONO <br />FROM: <br />Mark <br />Bernhardson City Administrator t* <br />DATE: June 5, 1985 <br />SUBJECT: Crystal Bay Sewer Project Overview <br />The following memo is to serve as a digest of staff <br />recommer'at ions regarding the various items for the Crystal Bay <br />pro je t. the meeting June 10 h. The numbering on each of the <br />items o correspond with the number on the agenda. <br />2. Sale of Bonds- Following the Board of Review the <br />Council will receive the opened bond bids at which <br />point Carolyn Drude of Ehlers and Associates will <br />recommend award and passage of resolution. <br />3. Art Center of Minnesota - Due to a publication error <br />we had to republish for the public hearing and will <br />go through the process regarding whether project 85- <br />2 will be ordered as pa t of 85-1 and secondly the <br />number of units assigned to the Art Center. <br />A. Staff recomme inclusion of the Art Center in <br />the project as inG zed by the Council at their May <br />- th meeting. <br />B. It is a staff recommendation that 10 assessment <br />units be assigned to the Art Center. <br />16. Staff recommends passage of resolu'ions which will <br />combine what are present single parcels into <br />assessment units with the attendent structure that <br />is on the land. Additionally recommend passage <br />regarding multiple assessment units on selected <br />properties. <br />Art Center - 10 <br />Tonka Transmission - 1 <br />1950 Shoreline Drive - 2 <br />Sailor's World - 2 <br />City properties - 5 <br />17a. E�xment Schedule - It is staff's recommendation to <br />levy payment schedule be done in equal principals <br />with varying interest totals. <br />b. Pro ect Interest Rate - It is recommended that the <br />Fcujeui rate— charged on the assessment be 1.251 <br />above the net interest rate of the bondF. (With the <br />total founded to the nearest tenth of a p rcent.) <br />c. S read on Assessments - it is staffs recomme.•ndat ion <br />