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<br />NORTHLAND 'SEe URITI ES <br /> <br />45 South 'f1' Street <br />Suite 2500 <br />Minneapolis. MN 55402 <br /> <br />(800) 85'-2920 <br />(6J2) 851-5906 <br />Fox (612) 851-5917 <br /> <br />EXTERNAL <br /> <br />MEMORANDUM <br /> <br />DATE: April 7. 2004 <br /> <br />TO: The Honorable Terry Sweeney and Members of the City Council <br />Ms. Kim Moore-Sykes, Administrator <br />Ms. EIkn PauIsetb, F'mance Director <br />City ofCenterville <br /> <br />FROM: George Eilertso.D, Senior Vice President I Pa.rtoer (j~ <br />Northland Securities I <br /> <br />HE: Council Agenda Items: <br />1) Street Improvement Bond <br />2) .Jt. Powers poliee Station Ptvjeet <br /> <br />Following is a description of the two public finance related agenda items for the April 14th <br />Council meeting: <br /> <br />Street ImDrovement ProieetBond Issu:e- (see attached) <br />Two agenda items relate to the Street lint>rovement Bonds (see attached). <br />I} Financial Advisory A2reement - F'trSt,. we recommend the City retain. NortlJland <br />SecUrities as the Financial Advisor for the project The ~_..hed Financi;I1 Advisory <br />Agieeinent outlines NortbIand's pre bond' sale and pOst bond sale duties as well as 01l1' <br />colnpeIlSalion. . <br />2) Set Sale Resolution - The Set Sale Resolution sets a bond sale date of May 'J.6h at 11 :00 . <br />AM. <br /> <br />Joint Powers Police Station - (see attachedJ <br />Attached is a preliminary bond schedule for the issuance of a General Obligation Capital <br />Improvemeot Bond. The prelirn;nR\Y bond schedule splits the bond payments between the three <br />member cities - Centerville, Circle Pines and Lexington. <br /> <br />General Obligation Capitsl Improvemeot Bonds require several steps prior to bond isSUance.. In <br />SUllllllllIY, these steps include the completion of a 5-year Capitsl Improvement Plan and a Public <br />Hearing must be held. <br /> <br />I will attend the April 14th meeting to turther explain the above agenda items. Do not hesitate to <br />call me at (612) 851-5906 with any questions. Thank you. <br />