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Expenditure Amount <br />Acquisition of land <br />0 <br />New construction <br />15,4001000 <br />Demolition and site preparation <br />Acquisition and Installation of Equipment <br />3,5001000 <br />Fees: Architectural, engineering, inspection, <br />1,5001000 <br />fiscal, legal, administration, or printing <br />Construction Interest <br />0 <br />Initial Note Reserve <br />0 <br />Costs of Issuance <br />0 <br />Contingencies <br />0 <br />Other <br />15100,000 <br />Total $21..500MOV <br />*Only a portion of the cost of the project, in an amount not to exceed $9,000,000 will be financed with the <br />proposed tax-exempt notes. <br />It is presently estimated that construction will begin on or about October 2009, and will be complete on or <br />about May 2011. When completed, there will be approximately 0 new jobs created by the project at an <br />annual payroll of approximately $0.0, based upon currently prevailing wages. There is existing job <br />provided by business. <br />There will be jobs created by construction of the project. Number of hours: Average wage <br />level: $ <br />Repayment of the proposed issue will be amortized over a period of years. <br />The following exhibits are furnished with this application and are incorporated herein by reference: <br />1. An opinion of bond counsel that the proposal constitutes a project under Minn. Stat. § 469.153, <br />subd. 2. <br />2. A copy of the resolution by the governing body of the issuer giving preliminary approval for the <br />issuance of its revenue bonds and stating that the project, except for a project under Minn. Stat. § <br />469.153, subd. 2(g) or 0), would not be undertaken but for the availability of Industrial Development <br />Bond financing. <br />3. A comprehensive statement by the municipality indicating how the project satisfies the public <br />purpose and policies of Minn. Stat. § 469.152 - 469.165. <br />4. A letter of intent to purchase the bond issue or a letter confirming the feasibility of the project from a <br />financial standpoint. <br />5. A statement signed by the principal representative of the issuing authority to the effect that upon <br />entering into the revenue agreement, the information required by Minn. Stat. § 469.154, subd. 5 will <br />be submitted to the Department (not applicable to projects under Minn. Stat. § 469.153, subd. 2(g) or <br />