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<br /> -----.-- <br />I -' <br />I. OVERVIEW <br />I This report describes the proposed plan for the City of Arden Hills to issue <br />I $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 />1 . Purpose and components of bond issue. <br />I . Structure. <br />I . Other considerations in issuing bonds. <br /> . Market conditions. <br />I . Issuing process. <br />I <br />.- PURPOSE <br />I 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 />I adjacent to Tax Increment Financing District No.2 in the City. <br /> Project estimates include: <br />I Relocated 14th Street Improvements $1,224,000 <br />I Round Lake Road! <br /> Highway 96 Intersection Improvements 1,462,000 <br /> Contingency 4,448 <br />I Total Project Costs $2,690,448 <br />. Financing these projects requires a bond issue in the amount of $3,050,000. The <br />I proposed finance plan consists of the following sources and uses of funds: <br />I- <br />I Page I <br />