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<br /> ------- -- <br /> . - <br /> OVERVIEW e <br /> This report describes the revised plan for the City of Arden Hills to issue <br /> $3,100,000 General Obligation Tax Increment Bonds, Series 1998A. This report <br /> updates our last report dated October 27, 1997. It is our understanding that now <br /> that all land purchase agreements and development agreements have been signed, <br /> the City is prepared to proceed with financing the public improvements. This <br /> report has been prepared by Ehlers and Associates, in consultation with City staff <br /> and 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 /> e <br /> PURPOSE <br /> The $3,100,000 General Obligation Tax Increment Bonds, Series 1998A (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 /> Project estimates include: <br /> Relocated 14th Street Improvements $1,274,000 <br /> Round Lake Road! <br /> Highway 96 Intersection Improvements 1,462,000 <br /> Contingency 30,088 <br /> Total Project Costs $2,766,088 <br /> Financing these projects requires a bond issue in the amount of $3,100,000. The . <br /> proposed finance plan consists of the following sources and uses of funds: <br /> Page 1 <br />