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ARDEN HILLS CITY COUNCIL—MARCH 10, 2025 8 Ms. Kvilvang reported at the February 10, 2025 Regular Council Meeting, the City Council adopted Resolution 2025-018 Providing for the Issuance and Sale of General Obligation CIP Bonds in an amount of $4,680,000 for 15 years to cover the City's proportionate share of the estimated $24M of construction costs. The annual debt service payments are anticipated to be approximately $420,000 annually with the bond proceeds expected to be available on May 20, 2025. The Lake Johanna Fire Department had their bid opening on January 30, 2025 for the construction and project totals and the City's proportionate share will likely be reduced through this process based on the final numbers. Staff will work with Ehlers to incorporate the updated bond amount into the Official Statement, the formal disclosure document of terms and features of the bond. She reviewed the proposed timing for the bonds and recommended approval of the bond issuance. Councilmember Monson explained the City would be paying back these bonds through a franchise fee. Councilmember Weber asked if excess funding from franchise fees would go to the fire department. Councilmember Monson supported the excess being used to pay down the bonds. Mayor Grant indicated he would have to go back and look at the discussion the Council had regarding the franchise fees. MOTION: Councilmember Monson moved and Councilmember Weber seconded a motion to adopt Resolution 2025-028 Approving the 2025-2029 Capital Improvement Plan and Approving the Issuance of Capital Improvement Plan Bonds. The motion carried (3-0). B. Resolution 2025-029 Accepting Adopt-A-Park Application from Shoreview/ Arden Hills Rotary Public Works Director/City Engineer Swearingen stated the Arden Hills/Shoreview Rotary Club has applied to adopt Floral Park for 2025 and 2026. If Council so chooses, Resolution 2025- 029 would approve that Floral Park will be adopted by the Arden Hills/Shoreview Rotary Club for that timeframe and work will be coordinated as stated within the resolution. A list of Volunteer Projects has been prepared by a resident volunteer that has worked in Floral Park for a number of years. He has a prepared a list of priority items that the Arden Hills/Shoreview Rotary Club can help achieve over these two years. An Adopt-A-Park sign would be placed at the entrances of Floral Park if Council so chooses to approve the resolution. Staff commented further on the proposed request and recommended approval. Councilmember Monson stated she was very impressed by the sign drawings. She indicated this would be the City's first adopt-a-park. It was her hope the City would be able to forge additional partnerships with local businesses for the City's other parks. Councilmember Weber thanked the Rotary Club for their willingness to adopt a park in the City of Arden Hills.