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ARDEN HILLS SPECIAL CITY COUNCIL WORK SESSION—OCTOBER 29, 2012 3 <br /> Mayor Grant stated that they City would be issuing the bonds, but the County would make the <br /> payments. The County would get its money by selling land, and essentially, the County is <br /> covering the costs of trunk utilities. <br /> Councilmember Holden inquired about the County's bond rating. <br /> City Administrator Klaers stated that according to Ehlers, it is marginally better than the City's. <br /> Discussion ensued regarding estimated costs and timeframes involved in the TCAAP project, <br /> including the operating and ongoing costs of the JDA, Master Plan, and trunk utilities. The <br /> Council requested estimates and assumptions involved for the project. <br /> ADJOURN <br /> Mayor Grant adjourned the Special City Council Work Session meeting at 10:10 p.m. <br /> Patrick Klaers David Grant <br /> City Administrator Mayor <br />