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<br /> . i <br /> OVERVIEW . <br /> This report describes the proposed plan for the City of Arden Hills to issue <br /> $3,050,000 General Obligation Tax Increment Bonds, Series 1997 A. This report <br /> has been prepared by Ehlers and Associates, in consultation with City staff and <br /> bond counsel. This report deals with: <br /> . Purpose and components of bond issue. <br /> . Structure. <br /> . Other considerations in issuing bonds. <br /> . Market conditions. <br /> . Issuing process. <br /> PURPOSE <br /> The $3,050,000 General Obligation Tax Increment Bonds, Series 1997A (the - <br /> "Bonds") are being issued pursuant to Minnesota Statutes, Chapters 469 and <br /> 475. The Bonds are being issued to fund various public improvements within and <br /> adjacent to Tax Increment Financing District No.2 in the City. <br /> - <br /> Project estimates include: <br /> . <br /> Relocated 14th Street Improvements $1,224,000 I <br /> Round Lake Road! <br /> Highway 96 Intersection Improvements 1,462,000 I <br /> Contingency 4,448 <br /> Total Project Costs $2,690,448 I <br /> Financing these projects requires a bond issue in the amount of $3,050,000. The I <br /> proposed finance plan consists of the following sources and uses of funds: <br /> I <br /> .. <br /> Page I I <br />