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<br />. <br /> <br />. <br /> <br />. <br /> <br />Memo to Mayor and Council <br />Page 5 of5 <br />May 20, 2003 <br /> <br />to prepay the loan once they have the opportunity to sell their existing district offices and a piece <br />of property in Shoreview. <br /> <br />Assuming there are no legal issues associated with accommodating the School District's request, <br />based on staffs (our interim city accountant included) preliminary evaluation it does not appear <br />that there are any cash flow or issues associated with our investment portfolio that would <br />preclude our partnering with the School District in this manner. However, should the Council be <br />inclined to further explore this option, staff would suggest that we consult with the City's <br />financial advisor to help facilitate the transaction. <br /> <br />Requested Actions <br /> <br />1. Provide direction on Arden Hills' involvement in the project and direct staff to negotiate the <br />necessary agreements to proceed if appropriate <br />2. Provide direction on disposition of existing property <br />3. Provide direction on the School District's request <br />