HomeMy WebLinkAbout2006-08-09 Set Agenda & Handouts
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1. Roll Call
CITY COUNCIL & WORK
SESSION MEETING
Wednesday, August 9,2006
6:30 p.m.
Work Session to Commence
Immediately following Regularly
Scheduled Council Meeting
Set Agenda = Red
COUNCIL MEETING
I. CALL TO ORDER
II. PUBLIC HEARINGS
III. APPROVAL OF AGENDA
IV. APPROVAL OF COUNCIL MINUTES
1. July 26, 2006 City Council Meeting Minutes (page 1-9)
2. August 2, 2006 City Council Work Session Meeting Minutes (Pages 10)
V. CONSENT AGENDA
1. City ofCenterville July 27, 2006 through August 9, 2006 Claims (Page 11)
2. Centennial Fire District Claims through August 4, 2006 (Pages 12)
3. Successful Completion of Year 6 & Performance Review, Ms. Kris Sweeney,
Account Clerk II - Grade 4, Step 6 to Step 7
4. Pay Request #1 and Final, Iseler Demolition, Inc. (Water Tower Demo.)-
$9,200.00 (Page 13-15)
5. Change Order #1, Backage Road & 21st Avenue Improvements - $9,611.16
(Page 16-17)
6. Change Order #2, Backage Road & 21st Avenue Improvements - $3,492.00
(Page 18-19)
7. Parks & Recreation Committee Recommendation for Use of Laurie
LaMotte Memorial Park Hock Rink for Dry Land Practice (Centennial
Youth Hockey Association)
VI. A W ARDSIPRESENT A TIONSI APPEARANCES
VII. OLD BUSINESS
1. CSAH 14 Joint Powers Agreement - Cont'd From Previous Meeting (Page
20-30)
2. Proposed Ordinance ###, Second Series Amending Section 30.02 Relating to
Mayor and Council E-F (Cont'd From Previous Meeting (Pages 31)
3. Consider Improvements to Old Mill Road (From a Point Approx. 200 Feet
North of Revoir to North City Limits) (Cont'd From Previous Meeting)
(Page 32-34)
4. T-Mobile Request to Amend Agreement for Antennas on Water Tower
(Page 35-38)
5. Res. #06-037 - Appointing Election Judges & Interim Deputy Clerk For
U pcomin~ Primary & General Elections (Pa~e 39-40)
VIII. NEW BUSINESS
1. Res. #06-038 - Awarding Sale of $2,700,000 G.O. Bond (Page 41-62)
X. ANNOUNCEMENTSIUPDA TES
1. City Administrator, Mr. Dallas Larson
2. CSAH14 (Update)
3. Formation of EDA
XI. ADJOURNMENT
COUNCIL WORK SESSION
I. CALL TO ORDER
1. Roll Call
ll. DISCUSSION ITEMS
1. Beard Group (Downtown Redevelopment)
ill. ADJOURNMENT
* * REMINDERS **
Council Meeting August 23,2006 - 6:30 p.m. Council Chambers
Ms. Linda Broussard Vickers Day - August 29, 2006 (First Day to Accept Affidavits)
Candidate Filing - August 29 - September 12, 2006
Chk#
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Check
Search Name
AVLlC
BARNA, GUZY & STEFFEN L TD
BURSTEIN - GLASER
GOPHER STATE ONE CALL INC
INSTRUMENTAL RESEARCH INC
INTERNATIONAL MULCH COMPANY
MARATHON ASHLAND
MENARDS - FOREST LAKE
MET. COUNCIL ENV. SERVo (SDS)
NATIONWIDE RETIREMENT SOLUTION
ON SITE SANITATION
PERA
PRESS PUBLICATIONS
SAM'S CLUB
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CITY OF CENTERVILLE
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UPDATED LIST
Date
8/9/2006
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8/9/2006
8/9/2006
Amount Comments
$624.07 DEF COMP W/H 8-10-06
$795.00 PURCHASE OF VACANT PROP. - SERV THRU 7-31-06
$12, 187:69=,CONDEMNA TION MATTERS - SERV THRU 6-30-06
$114.55 SERVTHRUJULY2006
$38.00 JULY 2006 TESTING
$1,185.41 REDWOOD MULCH 1500LB
$298.13 FUEL - SERV THRU 7-26-06
$9.46 500FT REAL W/ LINE
$12,011.46 SERV THRU SEPT. 2006
$356.38 DEF COMP W/H 8-10-06
$995.92 6970 LAMOTTE DR - LAMOTTE PARK
$2,214.95 PERA W/H 8-10-06
$28.53 SUMMARY ORD. #2
$217.71 SUPPLIES - P.w.
$56.63 651-426-6579 - SERV THRU 8-31-06
$31,133.89
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TO: Honorable Mayor & City Council Members
FROM: Kim Stephan
SUBJECT: Parks & Recreation Committee Recommendation to City Council
DATE: August 7, 2006
Centennial Youth Hockev Association - Use of Laurie LaMotte Memorial Park Hockev Rink for
Dry Land Practice
Mr. Brian Hronski, Outdoor Ice Coordinator for the Centennial Youth Hockey Association (CYHA),
sent a request to the committee regarding the use of Laurie LaMotte Memorial Park ice rink for dry
land practice beginning August 10, 2006. CHY A has used the facilities for dry land practice during
the previous two (2) seasons. The Parks & Recreation Committee discussed the use of the facilities for
dry land practice and agreed to the usage with the following conditions:
· A schedule of usage, as well as a contact list of coaches responsible during the time it is being
used will be provided by the association.
. There will be no use of the facilities after 9 p.m. daily.
· The nets will be padlocked when not in use. The key to the lights and padlock will be supplied
in a lock box by Public Works.
· The Centennial Youth Hockey Association will sign a waiver releasing the City of Centerville
from any liability and will take responsibility for any damage occurring while the association is
using the facilities.
The following recommendation was made by the Parks & Recreation Committee at the August 2, 2006
Parks & Recreation Committee Meeting.
Motion was made by Committee Member Amundsen, seconded by Committee Member Seeley to
recommend to City Council approving the Centennial Youth Hockey Association's use of dry
land time with the use of the park lights at Laurie LaMotte Memorial Park with the above
conditions. All in Favor: Motion passed unanimously.
August 7,2006
The following waiver is in regards to the use of the Laurie LaMotte Memorial Park ice rink and
access to the utility room for the purpose of using the rink lights. The Centennial Youth
Hockey Association (CYHA) will take all responsibility for any damages which may occur to
the above mentioned property and/or equipment during the scheduled usage. The coach
responsible for each designated time period will ensure the lights are off and the building and
nets are secure. The City of Centerville requests the CYHA notice the city at the termination of
the dry land portion of time so a walk through can be done and both parties will agree on the
condition of the property at the end of the usage. The CYHA will provide a schedule of use
and a list of coaches using the property to the city before use begins.
Mr. Dallas Larson
City Administrator, City of Centerville
Centennial Youth Hockey Association
C entennial Youth Hockey Association
P.O. Box 356
Circle Pines, MN 55014
www.centennialhockey.org
To: Kim Stephan - City of Centerville
From: Brian Hronski, Outdoor Ice Coordinator
635 Fox Road Lino Lakes, MN 55014
Date: July 28, 2006
Re: CYHA use of Laurie Lamotte Park rink August/September
To Whom It May Concern the CYHA would like to make a special request to use the Laurie Lamotte Park
outdoor rink on the following dates in August & September to conduct dry land hockey practices. The
coaches would be in charge of locking/unlocking nets and would also need a key or combination that would
unlock and lock the hockey goals after completion of the practice.
The dates of use would be as follows each session would be from 6:30 - 8:00 PM.
Thursday August 10
Thursday August 17
Thursday August 24
Thursday August 31
Thursday September 7
Thursday September 14
Please inform me as soon as possible, if there are any changes to this procedure and/or the schedule above.
Thanks for your continued support of the Centennial Youth Hockey Association and the youth we serve. I
look forward to hearing from you. I can be reached at 651-653-3358 or brian.hronski@ci.lino-Iakes.mn.us
08/08/2005 09:38
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BURSTEIN LAW FIR~..l
PAGE 02
BURSTEIN LAW FIRM
A PROPESSIONAL ASSOCIATION
FRED B URSTP,IN
STEVEN M. BURSTEIN
S~ITE 610
510 FIRST AVENIJE NORTH
MINNEAPOLIS. MIN~ESOTA .\541)3
TEL; (612) 33%561
FAX: (Ii 12) 337.5572
July 21,2006
Via Facsimile
Dallas Larson
City Administrator
City of CenterviJIe
1880 Main Street
Centerville, MN 55038
RE: Creation of an Economic Development Authority
Dear Dallas:
Per your request, r have enclosed sample Enabling Resolutions establishing economic
development authorities for the cities of Bumsville and Watertovvn. As you may know, before
adopting an enabling resolution, the city must first conduct a public hearing. The enabling
resolution will establish a board of conunissioners for the EDA. The city council can choose to
serve as the EDA' s board of commissioners or create a board made up of members from the
community at, large. The board may consist of three, five or seven members who serve six year
terms.
Following your review, please feel free to contact m ith any questions you may have.
5MB/jss
Encl.
cc: Kurt Glaser, Esq. (w/encl)
1:\Clicnts\Ccntcrvillc\Gcncrnl Maners 06-20 I \Currc~rondcncc\Larson 01l.07.06.doc
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RESOLUTION NO.
RESOLUTION ENABLING THE CREAT.ION OF
AN ECONOMIC DEVELOPMENT A UTHORI'fY
IN THE CITY OF \V A TERTOWN,~INNESOT A
CITY OF WATERTOWN, CARVER COUNTY, MINNESOTA
Novembcr 10, 1992
BE IT RESOLVED BY THE City Council/County Commissioners OF THE CITY OF
WATERTOWN, MINNESOTA (CITY) AS FOLLOWS:
Section 1. Background and_Eindings.
1.01. The City is authorized by Minnesota Statutes, Chapter 469 (the Act) and specifically
Section 469.091, to establish an Economic Development Authority (EDA) to coordinate and
administer economic development and redevelopment plans and programs of the City of Watertown
1.02. It is found and deteti\1jned by the City Council/County Commissioners that the
encouragement and financial support of economic developm.ent and redevelopment in the City is
vital to the orderly development and financing of the City and in the best interests of the health,
safety, prosperity and general welfare of the citizens of the City.
1.03. .Tt is further found and determined that tbc economic development and redevelopment
of the City can best be accomplished by tbc establishment of an EDA as authorized by the Act.
1.04. The City Council/County Commissioners has in accordance with the Act and Section
469.093 provided public notice and conducted a public hearing on October 13, 1992, concerning the
establishing of an Economic Development Authority at which hearing all persons desiring to express
their views were heard.
SectiOI1 2. Enabling_Resolution.
2.01. The Economic Development Authority ofthe City of Watertown, Minnesota (ED A) is
hereby established. The EDA is a Public body corporate and politic and a political subdivision of
the State of Minnesota.
2.02. The EDA shall have all the powers, duties and responsibilities sct forth in Sections
469.029 to 469.108 ofthc Act and as said Act may be amended from time to time and all other
applicable laws, except as limited by this Resolution.
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2.03. The EDA shall consist ofa governing body of five commissioners. Two of the
commissioners shall be members of the City CowlcillCounty Commissioners. All commissioners
shall be appointed by the Mayor with the approval of the City Council/County Commissioners.
Those initially appointed shall be appointed for tenllS of two, three, four, five, and six years
respectively. Thereafter all commissioners shall be appointed for six year teITIls. A vacancy is
created in the m.embership of the commission when a City Council/County Conunissioners member
of the Authority ends Council membership.
Section 3. Limits of Powers.
3.01. The following limits shall apply to the Economic Development Authority of the City
of Wate.rtown and its operation;
(a) The sale of all bonds or other obligations issued by tbe EDA shall be first approved by
the City Council/County Commissioners.
(b) The EDA shall follow the budget process for City Departments as maybe provided by
the City and in accordance with City policies.
(c) Development and redevelopment plans of the EDA shall be consistent with the City
Comprehensive Plan and official controls implementing the Comprehensive Plan.
(d) The EDA shall obtain approval of its proposed plans for development and
redevelopment from the City Council/County Commissioners.
3.02. This Enabling Resolution may be modified to make any changes as authorized by the Act.
3.03. As provided in the Act it is the intention ofthe City Council/COlmty Commissioners
that nothing in this Resolution nor any activities of the EDA shall be construed to impair the
obligations of the City under any of its contracts or to affect in any detrimental m.anner the rights
and privileges of a holder of a bond or other obligation heretofore issued by the City. The City
Council/County Commissioners sball not modify any Umit in effect at the time any bonds or
obligations are issued or contracts executed to the detriment of the holder of the boods or
obligations or any contracting party.
Section 4. Transfer.ofAuthority oLWatcrtown Housing.and Redevelopment..Authority
(BRA). (Effecti ~e_as_of.Jan u ary. .1....J9.93.)
4.01. Pursuant to the authorization of Minnesota Statutes Section 469.094, the City of
Watertown does by this Resolution hereby transfer to the Economic Development Authority of the
City of Watertown established by this Resolution, all activities, programs, operations and authority
of the existing City of Watertown Housing and Redevelopment Authority, including the transfer of
the control, authority and operation of any project as defined in Section 469.174, Subdivision. 8, or
any oUler program or project authorized by Sections 469.001 to 469.047 or 469.124 to 469.134
located within the City of Watertown. The EDA shall accept the control, authority, and operation
of all projects, programs or activities of the HRA. The EDA shall exercise all of the powers that thc
HRA. could exercise. This transfer of authority from tbe HRA to the EDA shall be effective January
I, 1993.
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4.02. The EOA shall covenant and pledge to perform the terms, conditions, and covenants
of the bond indenture or other agreements ex.ecuted for the security of any bonds issued by the
Watertown Housing and Redevelopment Authority. The EDA shall exercise all of the powers
necessary to perfoml the term.s, conditions and covenants of any indenture or other agreements
executed for tbe security of the bonds and shall become obligated on any such bonds by reason of
the transfer as provided in this resolution.
4.03. All employees, if any, ofthe BRA as of January 1, 1993, are hereby transferred to the
authority, direction, supervision and control of the EDA. The placement of any employees under
the direction, supervision, or control of the EDA does not affect the rights of any employees of the
previously existing HRA. Any employees of the HRA shall become employees of the EDA.
Section 5. Implementation.
5.01. The City Council/County Commissioners shall from time to time adopt such
ordinances and resolutions as are required and permitted by the Aet to give full effect to this
Resolution.
5.02. The Mayor, the City Administrator, and other appropriate City officials are authorized
and directed to take the actions and execute and deliver the documents necessary to g.ive full effect
to this Resolution.
PASSED AND DULY ADOPTED BY THE City Counci.llCounty Commiss.ioners OF THE
CITY OF WATERTOWN THTS 10TH DAY OF NOVEMBER, 1992.
CITY OF WATERTOWN
Mayor
ArrEST:
Clerk-Treasurer
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RESOLUTION NO. 36.79_
CITY OF BURNSVILLE
DAKOTA COONIY, MINNESOTA
RESOLUTION ENABLING THE CREATION OF
AN ECONOMIC DEVELOPMENT AUTHORITY
IN THE CITY OF BURNSVILLE, MINNESOTA
BE IT RESOLVED by the City Council/County Commissioners of the City of Bumsville,
Minnesota (City) as follows:
Section I.. BackgrolUld:_.Eindings.
1.01. The City is authorized by Minnesota Statutes.. Chapter 469 (Act) to establish an
Economic Development Authority (EDA) to coordinate and administer economic development and
redevelopment plans and programs ofthe City.
1.02. It is found and determined by the City COlillCil/County Commissioners that the
encouragement and financial support of economic development and redevelopment in the City is
vital to the orderly development and financing of the City and in the best interests of the health,
safety, prosperity and general welfare of the citizens of the City.
1.03. It is further found and determined that the economic development and redevelopment
ofthc City can best be accomplished by the establishment of an EDA as authorized by the Act.
1.04. The City Council/County Commjssioners has in accordance with the Act provided
publie notice and conducted a public hearing on August 5, 1991 concerning the establishing of an
EDA at which all persons wishing to be heard express cd their views.
Section 2. Enabling ResolutioJJ.
2.01. The Economic Development Authority of the City of Bumsville (EDA) is hereby
established.
2.02. The EDA consists of a governing body of five commissioners who shall be members
of the City COlillcil/County Commissioners and scrve as Commissioners of the EDA for terms
coinciding with their terms as members of the City Council/County Commissioners. The EDA has
all the powers and duties set forth in Section 469.090 to 469.108 of the Act and other law, except as
limited by this resolution.
2.03. The following limits apply to the EDA and its operation:
a) The sale of bonds or other obligations of the EDA must be approved by the City
Council/County Commissioners.
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BURSTEIN LAW FIRM
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Resolution No. 3679
August 5, ] 991
Page 2
(b) The EDA must follow the budget process for City departments in accordance
with City policies, ordinances and resolutions.
(c) Development and redevelopment actions of the EDA must be in confol1)J.ance
with the City comprehensive plan and of.ficial controls implementing the comprehensive plan.
(d) The EDA nJ.ust submit its plans for development and redevelopment to the City
Council/County Commissioners for approval in accordance with City planning procedures and law.
(e) The administrative structure and management practices and policies of the EDA
must be approved by the City Council/County Commissioners.
2.04. As provided in the Act it is the intention of the City Council/County Commissioners
that nothing in this resolution nor any activities of the EDA are to be construed to impair the
obligations of the City rmder any of its contracts or to affect in any detrimental manner the rights
and privileges of a holder of a bond or other obligation heretofore issued by the City.
Section 3. Implementation.
3.01. The City Council/County Commissioners will from time to time and at the appropriate
time adopt such ordinances and resolutions as are requircd and permitted by the Act to give full
effcct to this resolution.
3.02. The Mayor, the Manager, and other appropriate City officials are authorized and
directed to take the actions and execute and deliver the documents necessary to give full effect to
this resolution.
3.03. Nothing in this resolution is intended to prevcnt the City from modifying this enabling
resolution to impose new or different limitations on the EDA as authorized by the Act.
PASSED AND DULY ADOPTED by the City Council/County Commissioners of the City of
Bumsville this 5th day of August, 1991.
CITY OF BURNSVILLE
ATTEST:
Mayor
M^St.
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RECEIVED
AUG - 8 2006
CENTERVILLE, MN
July 31, 2006
SCANNED
To:
Dallas Larson, City of Centerville
Gordon Heitke, City of Lino Lakes
Jim Keinath, City of Circle Pines
AUG - 9 2006
Fr: Paul Erickson
Minnesota Amateur Sports Commission
Re: Fully executed documents & contract notification
For your files, please find enclosed the fully executed document regarding the expansion
of the Super Rink.
Notification Requirement
As per our agreement, we are pleased to inform you that all (he required hours (860) for
the '06/'07 season have been reserved by Centennial Youth Hockey. CYHA has booked
958 hours for youth hockey.
The Centennial Youth Hockey and Blaine Youth Hockey arena's are on schedule for an
October opening.
Thank you for your suppOli, vision and partnership to build the "Worlds Largest Ice Rink
Complex".
MINNESOTA AMATEUR SPORTS COMMISSION
1700 105th Avenue NE. Blaine, Minnesota 55449-4500 . 763-785--5630. fax 763-785--5699 . tdd 800-627--3529
toll free 800-500-8766 . e-mail masc@citilink.com . www.masc.state.mn.us
An Equal Opportunity Employer
NA TIONAL SPORTS CENTER
SUPER RINK EXPANSION
GUARANTEE AGREEMENT
THIS AGREEMENT is made this J2I- day of March 2006, by and between
the State of Minnesota acting through the Minnesota Amateur Sports Commission
("MASC"), the National Sports Center Foundation ("NSCF"), a Minnesota non-profit
corporation, and the City of Centerville ("City of Centerville").
WITNESSETH:
\VHEREAS, MASC, pursuant to Minnesota Statutes Chapter 240A, has the
authority to design, construct, own and operate an ice arena and auxiliary facilities; and
\VHEREAS, MASC has determined the need for additional ice sheets at the
Schwan Center, and has requested the issuance of tax exempt bonds ("Bonds") by the
Anoka County Housing and Redevelopment Authority ("ACHRA") for the purpose of
assisting in the financing of an additional ice arena ("Facility") consisting of at least four
ice sheets to be located on property ("Property") owned by the J\tlASC at the National
Sports Center ("NSC") at 1700 - 1 05th Avenue NE, Blaine, Minnesota; and
WHEREAS, it is contemplated that the total cost of the Facility including the cost
of the design, construction and securing financing will be approximately $11,100,000.00;
and
WHEREAS, the ACHRA has agreed to issue Bonds for the purpose of financing
a portion of the construction of the Facility pursuant to certain terms and conditions all to
be set forth in various bond documents ("Bond Documents"); and
WHEREAS, the Property has been leased by MASC to ACHRA in connection
with the issuance of the Bonds; and
\VHEREAS, ACHRA has subleased the Property to the NSCF; and
WHEREAS, pursuant to the sublease, the NSCF is responsible for the
construction and operation orthe Facility; and
WHEREAS, the Centennial Youth Hockey Association ("CYHA"), a Minnesota
non-profit corporation, has entered into an ice sheet rental agreement ("Ice Sheet Rental
Agreement") with NSCF and MASC through which CYHA will receive certain priority
rights in scheduling and purchasing up to 1,340 ice sheet hours per year in return for
agreeing to purchase each year a minimum of 860 ice sheet hours. The City of Centerville
is willing to assist in the financing of the Facility by guaranteeing each year 16% of the
1340 ice sheet hours and in consideration of the CYHA guarantee of 860 hours, the
remaining hour guarantee would be 16% of 480 hours annually.
Draft 02/22/2006
NOW THEREFORE, for good and valuable consideration the parties hereto
hereby agree as follows:
SECTION 1
TERl'\1
This Agreement shall be effective as of the date set forth above, and shall terminate on
the earlier of January 1, 2026, or the final maturity date of the Bonds. In the event the
Bonds are redeemed prior to the final maturity date, this Agreement shall still remain in
effect until January 1,2026.
SECTION 2
GUARANTEE OBLIGATION
2.1 Centennial Cities. The Centennial Cities (the cities of Centerville, Circle
Pines and Lino Lakes) agree to guarantee for each year during the term of this Agreement,
rental income to the Facility at the Hourly Rate for the one thousand three hundred forty
(1340) Priority Hours only if annual gross rink revenues are insufficient to pay annual
bond & operating costs. This guarantee obligation shall be allocated to each member city
as follows: Lino Lakes (72%), Centerville (16%), and Circle Pines (12%). It is
acknowledged that CYHA has entered into an Ice Sheet Rental Agreement with NSCF to
guarantee 860 of these 1340 hours.
2.2 Such guarantee of rental income shall not be required after the initial bond
debt, which finances the facility, is paid in hIil.
SECTION 3
NOTIFICA TION
3.1 Notification. On or before June 1 of each year, NSCF shall provide to the
City of Centerville a written notification ("Notice") if any portion of the 1360 ice sheet
hours have not been committed to in the manner provided for by the joint board.
3.2 Right to call for Joint Board Meeting. The City of Centerville shall have
thirty (30) days from the date of the Deficiency Notice to request in writing that the NSCF
call a meeting of the Joint Board for the sole purpose of exploring any available
opportunities for the sale of all or any portion of the Uncommitted Hours. Upon receipt
of such written request for a meeting of the Joint Board, NSCF shall schedule a meeting as
soon as practical and notify the City of Centerville of the date of such meeting.
3.3. Payment of Deficiency. As soon as practical after March 31 of each year,
NSCF shall provide to the City of Centerville written notification of the number of
Uncommitted Hours that remained unsold as of March 31 and the dollar amount due
("Deficiency Assessment") NSCF based on the Regular Hourly Rate. Payment by the City
Draft 02/22/2006
2
of Centerville of the DefIciency Assessments shall be made within thirty (30) days of its
receipt.
SECTION 4
ESTABLISHMENT OF JOINT BOARD
4.1 Joint Board. NSCF and MASC agree to the establishment of a joint board
("Joint Board") consisting of one member appointed by the Blaine Youth Hockey
Association, one member appointed by the Centennial Youth Hockey Association, two
members appointed by the NSCF, and 2 members appointed by the MASC. MASC may
also appoint non-voting ex-officio members as needed. With respect to the two members
to be appointed by the NSCF, one such member shall be appointed to represent the
interest of the users of the Columbia Ice Arena and one such member shall be appointed to
represent the interests of the Herb Brooks Foundation.
4.2 Powers of Joint Board. The Joint Board shall exercise the follovling
powers and such other powers as are set forth in the Ice Sheet Rental Agreement or as
may be required by any of the Bond Document:
(a) Establish procedures for the fair and equitable exercise of rights relating to
the Ice Sheet Rental Agreement.
(b) Approval of an annual operating budged consistent with the Ice Sheet
Rental Agreement and the Bond Documents.
(c) Establish fair and equitable use and programming policies and procedures
not covered by and not inconsistent with the Ice Sheet Rental Agreement
and the Bond Documents.
(d) Recommend programming decisions.
(e) Establishing the Regular Hourly Rate.
SECTION 5
SPECIAL TER1\'IS
5.1 Scheduling Rights for the Centennial Cities. Each city member of the
Centennial Cities shall be entitled to the following for 40 years until January 1, 2046:
(a) The right to schedule one fall session for free skating.
(b) 300 single use passes for open skating on an annual basis. Distributed
as follows; 216 to Lino Lakes, 36 to Circle Pines and 48 to Centerville.
(c) The right to schedule and purchase up to 12% ofCYHA 1340 hours if
requested by April 1 st prior to each season and shall be prorated as per
each cities Proportionate Share.
Draft 02/22/2006
'>
-'
5.2 Additional Rights for Centennial Cities. If subsequent to the date ofthis
Agreement, a wllnnesota Hockey Association sanctioned club/association is organized to
serve all or part of a city member of the Centennial Cities, the Centennial Cities may, at
their discretion, choose to assign a portion of the Priority Hours that CYHA has under
Section 3 .2( c) to the new association.
5.3 Recognition for the Centennial Cities. The Centennial Cities shall receive
recognition in 2 locations; on the exterior of the building and inside the entrance to the
building.
5.4 Centennial Citv Payments. The Centennial Cities have set a goal to
contribute the sum of $100,000 towards the construction of the Facility. Any payments
made pursuant to this pledge shall be paid directly to the NSCF Construction Fund and
CYHA shall receive a credit for such payments.
a. The city of Centerville shall make a capital contribution to the project
of $16,000 as per the following payment Schedule. January 15, 2007
$8,000 and January 15, 2008 $8,000.
SECTION 6
MISCELLANEOUS TERMS
6.1 Observance of Laws. NSCF and MASC will observe all applicable laws,
regulations, ordinances and orders of the United States, the State of Minnesota and
agencies and political subdivisions thereof and each department or agency thereof,
applicable to Facility. NSCF and MASC shall have the right to contest by appropriate
procedures the adoption, validity or applicability of any laws, regulations, ordinances and
orders referred to in this Section and to delay compliance therewith, without violating the
provisions of this Section, if the procedures taken by NSCF or MASC to contest the
validity or applicability of any such law, regulation, ordinance or order are appropriate and
have the effect of staying the finality and enforceability thereof against NSC or MASC.
6.2 Amendments. This Agreement may not be amended, changed, modified,
altered or terminated without the prior written consent of the NSCF, MASC and the City
of Centerville.
6.3 Waiver and Cumulative Rights. No waiver of any breach of this
Agreement by a party shall be considered to be a waiver of any other subsequent breach,
and no right or remedy herein conferred upon or reserved under this Agreement is
intended to be exclusive of any other right or remedy.
6.4 Governing Law. This Agreement shall be governed and interpreted under
the laws of the State of Minnesota.
Draft 02/2212006
4
6.5 Authorization for Agreement. Each of the parties to this Agreement
warrant and represent that it has full power and authority to enter into this Agreement and
carry out its obligations hereunder and that it has taken all action necessary to permit its
execution and fulfillment of this Agreement.
6.6 Not Joint Venturer. The City of Centerville shall not by reason of any
provision of this Agreement be or be deemed to be a joint venturer with or partner or
agent ofNSCF or ivlASC.
6.7 Assignment. This Agreement may not be assigned in whole or in part by
any party without the prior written consent of the non-assigning parties, except that NSCF
or MASC may assign this Agreement in whole or part to the Trustee under the Bonds or
its successor and NSCF may assign any of its rights and obligations under this Agreement
to the lvfASC.
6.8 Audits. All books, records, documents and accounting procedures and
practices of the parties relating to this Agreement shall be subject to examination by the
MASC, or other state agency as may be required by law.
Minnesota Amateur Sports Commission
BY~
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National Sports Center Foundation
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City of Centerville
By
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Its
Draft 02/22/2006
5
JULY 2006
CITY OF CENTERVILLE
CITY COUNCIL REPORT
1. Financial Statement & Budget Report..
2. Bank Reconciliation & Fund Cash Balance
Prepared By: John W. Meyer
Finance Director
_____u _._
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trt~~~lg~:f,1
General Fund
Monthly Financial Report
Month Ended July 31, 2006
MTD YTD Budget Variance
7/31/06 2006 2006 +(-)
Revenues:
Property Taxes 895,947.97 910,664.32 1,725,000.00 814,335.68 52.79%
Other Taxes & Assessments 0.00 3,441.58 84,500.00 81,058.42 0.00%
Licenses & Permits 18,426.86 83,977.70 195,000.00 111,022.30 43.07%
Building Inspection 16,523.86 49,264.90 168,000.00 118,735.10 29.32% ..~...
Fines & Forfeits 2,160.35 21,216.42 30,000.00 8,783.58 70.72%
Intergovernmental 11,598.50 1,696.00 110,000.00 108,304.00 1.54%
Fire Relief Aid 0.00 1,696.00 95,000.00 93,304.00 1.79%
Charges for Services 1,619.47 2,276.22 2,000.00 (276.22) 113.81%
Interest Earnings 1,164.59 33,130.71 40,000.00 6,869.29 0.00%
Miscellaneous Revenues 1,430.00 9,967.54 10,000.00 32.46 99.68%
Refunds & Reimbursements 0.00 3,679.97 4,000.00 320.03 92.00%
Fund Balance 0.00 0.00 0.00 0.00 0.00%
Total Revenues 932,347.74 1,070,050.46 2,200,500.00 1,130,449.54 48.63%
Expenditures: - -
Current
General Government
Mayor and Council 1,560.94 12,175.32 23,000.00 10,824.68 52.94%
Elections 0.00 0.00 5,000.00 5,000.00 0.00%
Planning & Zoning 594.83 4,326.83 10,000.00 5,673.17 43.27%
Administration 26,089.33 212,879.50 324,600.00 111,720.50 65.58%
Financial Administration 12,373.04 12,373.04 18,000.00 5,626.96 68.74%
Assessing 0.00 19,180.20 20,000.00 819.80 95.90%
Legal 10,543.85 32,059.79 80,000.00 47,940.21 40.07%
City Hall 1,853.61 18,525.48 38,000.00 19,474.52 48.75%
Total General Government 53,015.60 311,520.16 518,600.00 207,079.84 60.07%
Public Safety
Police Protection 48,114.67 336,802.69 577,376.00 240,573.31 58.33%
Fire Protection 22,746.50 68,269.50 186,000.00 117,730.50 36.70%
Building Inspection 12,235.49 90,440.53 155,000.00 64,559.47 58.35%
Electrical Inspection 0.00 3,566.40 9,000.00 5,433.60 39.63%
Civil Defense 0.00 862.00 4,000.00 3,138.00 21.55%
Animal Control 0.00 1,375.88 1,500.00 124.12 91.73%
Total Public Safety 83,096.66 501,317.00 932,876.00 431,559.00 53.74%
Public Works
Public Works 24,755.94 109,828.75 170,000.00 60,171.25 64.61%
Engineering Services 0.00 27,813.78 15,000.00 (12,813.78) 185.43%
Recycling 271.24 3,176.95 5,000.00 1,823.05 63.54%
Streets 92.12 13,195.01 80,000.00 66,804.99 16.49%
Street Lighting 2,424.05 17,917.91 27,000.00 9,082.09 66.36%
Total Public Works 27,543.35 171,932.40 297,000.00 125,067.60 57.89%
818/2006
1 :20 PM
budget GF 2006.xls
,?e.Ju..:J.#{:L~J.
MTD YTD Budget Variance % of Budget
7/31/06 2006 2006 +(-) Used
Culture and Recreation
Park/Rec. Committee 200.00 1,614.90 2,500.00 885.10 64.60%
Park/Rec. Programs 0.00 1,681.07 10,000.00 8,318.93 16.81 %
Park Maintenance 8,016.75 45,082.76 65,000.00 19,917.24 69.36%
Total Culture and Recreation 8,216.75 48,378.73 77,500.00 29,121.27 62.42%
Community Development 608.55 120,417.83 0.00 (120,417.83) 0.00%
Economic Development
Economic Development 1,015.20 4,057.46 6,500.00 2,442.54 62.42%
EDC - Frozen Fete Des Lacs 0.00 530.88
EDC - Business Directory 0.00 0.00
EDC - Business Promotion 0.00 0.00
EDC - Miscellaneous 0.00 0.00
Cougar Cash 0.00 0.00
Total Economic Development 1,015.20 4,057.46 6,500.00 2,442.54 62.42%
Unallocated
Miscellaneous 0.00 100.00 0.00 (100.00) 0.00%
Refunds & Reimbursements 0.00 0.00 0.00 0.00 0.00%
City Summer Festival 0.00 12,412.00 20,000.00 7,588.00 62.06%
Total Miscellaneous 0.00 12,512.00 20,000.00 7,588.00 62.56%
Total Current Expenditures 173,496.11 1,170,135.58 1,852,476.00 802,858.25 63.17%
Capital Outlay
General Government 0.00 0.00 42,124.00 42,124.00 0.00%
Public Safety 0.00 0.00 0.00 0.00 0.00%
Streets and Highways 0.00 0.00 100,000.00 100,000.00 0.00%
Culture and Recreation 0.00 0.00 25,000.00 25,000.00 0.00%
Total Capital Outlay 0.00 0.00 167,124.00 167,124.00 0.00%
TOTAL EXPENDITURES 173,496.11 1,170,135.58 2,019,600.00 969,982.25 57.94%
EXCESS (DEFICIT) OF REVENUES 758,851.63 (100,085.12) 180,900.00 160,467.29 N/A
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating Transfer In 0.00 65,400.00 0.00 (65,400.00) N/A
Operating Transfer Out 0.00 0.00 (180,900.00) (180,900.00) N/A
Sale of General Fixed Assets 0.00 0.00 0.00 0.00 N/A
TOTAL OTHER FINANCING 0.00 65,400.00 (180,900.00) (246,300.00) N/A
SOURCES (USES)
EXCESS (DEFICIENCY) OF 758,851.63 (34,685.12) 0.00 (85,832.71 )
REVENUE AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES
PREPARED BY: JOHN W. MEYER, FINANCE DIRECTOR
8/8/2006
1 :20 PM
budget GF 2006.xls
~,<:t~"Wft~
Sewer Fund
Monthly Financial Report
Month Ended July 31, 2006
:- -:. ~ . ...
7..ii.:J O/"'!Ak4"
MTD YTD Budget Variance
7/31/06 2006 2006 +(-)
Operating Revenue:
Charges for Services 18,596.34 157,907.61 230,000.00 72,092:39-. .. 68.66%
Total Operating Revenue 18,596.34 157,907.61 230,000.00 72,092.39 68.66%
Operating Expenses:
Salaries and Benefits 5,221.82 52,485.04 63,779.00 11,293.96 82.29%
Professional Services 11,999.01 14,539.03 10,000.00 (4,539.03) 145.39%
Supplies 365.96 4,611.20 13,550.00 8,938.80 34.03%
MCES Disposal Charges 12,011.46 84,080.22 130,000.00 45,919.78 64.68%
Utilities 116.48 1,090.53 1,500.00 409.47 72.70%
Depreciation 0.00 0.00 30,000.00 30,000.00 0.00%
Total Operating Expenses 29,714.73 156,806.02 248,829.00 92,022.98 63.02%
OPERATING INCOME (11,118.39) 1,101.59 (18,829.00) (19,930.59) -5.85%
Nonoperating Revenue (Expense)
Interest on Investments 1,375.11 39,119.57 26,000.00 (13,119.57) 150.46%
Special Assessments 19,706.77 27,996.96 50,000.00 22,003.04 55.99%
Hook up Fees and Unit Charges 6,496.50 26,489.50 80,500.00 54,010.50 32.91 %
Other Equipment (15,000.00) (17,135.54) 0.00 17,135.54 0.00%
Interest Expense 0.00 (55.00) (8,780.25) (8,725.25) 0.63%
Refunds & Reimbursements Rev 0.00 43.45 0.00 (43.45) 0.00%
Refunds & Reimbursements Exp 0.00 0.00 0.00 0.00 0.00%
Total Nonoperating Revenue 12,578.38 76,458.94 147,719.75 71,260.81 51.76%
(Expense)
INCOME BEFORE OPERATING 1,459.99 77,560.53 128,890.75 51,330.22 60.18%
TRANSFERS
OPERATING TRANSFERS OUT 0.00 0.00. 0.00 0.00 0.00%
NET INCOME 1,459.99 77,560.53 128,890.75 51,330.22 60.18%
CREDIT FOR DEPRECIATION ON 0.00 0.00 0.00 0.00 0.00%
CONTRIBUTED ASSETS
NET INCREASE IN RETAINED 1,459.99 77,560.53 128,890.75 51,330.22 60.18%
EARNINGS
PREPARED BY:
JOHN MEYER
FINANCE DIRECTOR
8/8/2006
1 :45 PM
budget report sewer 06.xls
8/8/2006
1 :34 PM
budget report water 06.xls
CITY OF CENTERVILLE
Cash Balances jwm
MTD MTD Current
FUND Descr Account Debit Credit Balance
Last Dim 10100
GENERAL FUND G 101-10100 $972,586.47 $204,068.54 $1,689,970.91
FED COMMUNITY DEV BLK GRANT G 202-10100 $0.00 $4,100.00 -$5,200.00
MOUND TRAIL DEBT SERVICE G 306-10100 $15.19 SO.OO $22,470.50
21ST AVE IMP DEBT SERVICE G 308-10100 $27.01 $0.00. $39,604.50
JOINT POLICE STATION 2005A G 309-10100 $0.00 $0.00 -$16,535.65
MUNI STREET IMP DEBT SERVICE G 312-10100 $49,508.35 $41,429.58 $307,400.46
IND PARK TfF 1-4 DEBT SERV G 317-10100 $20,371.94 $450.00 514,715.33
PARKVIEW DEVELOPMENT DEBT SERV G 324-10100 $2,105.96 50.00 $2,105.96
ELEM WATER MAIN EXT DEBT SERV G 325-10100 $3,349.38 $0.00 $3,349.38
G.O. Bond Pheasant I 2001 G 327-10100 5427.78 515.405.00 $515,919.94
G.O. Bond Hunters Cross I 2000 G 336-10100 $1,306.50 $0.00 558,995.44
CSAH 14 WATERMAIN G 339-10100 $0.00 $0.00 $4,829.93
PHEASANT MARSH 1/ G.O. 2002 G 342-10100 5581.45 $9,535.00 $773,922.65
PEL TIER PRESERVE DEBT SERVICE G 345-10100 $11,135.48 $0.00 -563,249.61
Hunters Crossing 1/ G.O. Bond G 346-10100 $18,071.51 $0.00 $602,871.78
PARK CAPITAL PROJECT G 402-10100 $5.422.40 $12,490.24 $183,018.04
21ST AVENUE IMPROVEMENTS G 408-10100 5545.35 $0.00 $545.35
MUNI STREET CAPITAL PROJECT G 412-10100 $6,882.18 $0.00 $144,111.42
PEDESTRIAN TRAIL WAYS G 414-10100 $8.43 $0.00 Sf2,740.12
STORM WATER IMP PROJECTS G 415-10100 $6,499.50 $864.77 $292,881.95
PHEASANT II.1ARSH II/ G 443-10100 $2,635.56 $1,179.54 $53,502.59
HUNTERS CROSSING PHASE 1/ G 446-10100 $47.27 $3,800.00 $48,678.62
CENTERVILLE TOWN OFFICE PARK G 447-10100 $0.00 $0.00 $8,437.00
HUNTER'S CROSSING 3RD ADDN G 448-10100 $66.50 $136,944.33 -$431,891.41
2006 Municipal Improvements G 449-10100 $3,579.25 $894,058.75 -$900,801.74
WATER FUND G 601-10100 $45,035.37 $17,135.98 $388,307.58
SEWER FUND G 602-10100 $50,778.22 $50,852.73 $2,089,047.96
CABLE TV FUND G 614-10100 $7.49 $213.69 513,483.48
RECYCLING G 617-10100 $0.00 $0.00 -$801.75
Last Dim 10100 $1,200,994.5 $1,392,528.1 $5,852,430.73
4 5
S1,200,994.54 $1,392,528.15 $5,852,430.73
08/08/06 12:52 PM
Page 1
2006 MONTHLY CASH/GENERAL LEDGER BALANCE RECONCILIATIONS
, ,
2006 Interest 1/31/2006 2/28/2006 3/31/2006 4/30/2006
Bank Checking Statement Balance $ 803,247.18 $ 576,893.86 $ 550,921.59 $ 419,865.91
Outstanding Deposits $ $ $ 0.40 $
Outstanding Checks $ (67,771.16) $ (63,380.72) $ (36,184.21) $ (111,439.11)
Monthly Interest $ 14,855.51 $ 2,751.26 $ 1,773.36 $ 1,915.44 $ 1,325.21
Net Checking Account Balance $ 735,476.02 $ 513,513.14 $ 514,737.78 $ 308,426.80
Investments
Mainstreet Bank Flex CD
Be9inning $ 823,948.42 $ 823,948.42 $ 993,948.42 $ 1,001,304.48
Other Tansactions $ $ 170,000.00 $
Monthly Interest $ 7,356.06 $ $ $ 7,356.06
Ending Balance $ 823,948.42 $ 993,948.42 $ 1,001,304.48 $ 1,001,304.48
Mainstreet Bank CD's
Beginning $ 3,641,036.10 $ 3,641,036.10 $ 3,641,036.10 $ 3,676,577.55
1000532645 CDARS $ 1,094,725.69 $ 1,094,725.69 $ $
1000669381 CDARS $ 1,104,034.85 $ 1,104,034.85
1000532637 CDARS $ 2,546,310.41 $ 2,546,310.41 $ 2,572,542.70 $ 2,572,542.70
Other Transactions
Monthly Interest - CD $ $ $ $
Monthly Interest - CDARS $ 35,541.45 $ $ $ 35,541.45
Ending. Balance $ 3,641,036.10 $ 3,641,036.10 $ 3,676,577.55 $ 3,676,577.55
Mainstreet Bank. Subtotal $ 5,200,460.54 $ 5,148,497.66 $ 5,192,619.81 $ 4,986,308.83
Smith Barney
Smith Barney Money Fund
Beginning $ 167,502.62 $ 170,287.32 $ 11,183.42 $ 23,972.05
Monthly Adjustments $ 38,522.77 $ 2,784.70 $ 10,896.10 $ 12,788.63 $ 12,053.34
Other Transactions $ $ (170,000.00) $
Ending Balance $ 170,287.32 $ 11,183.42 $ 23,972.05 $ 36,025.39
Smith Barney Gov't Bonds
Beginning $ 1,770,493.16 $ 1,770,493.16 $ 1,770,493.16 $ 1,770,493.16
FHLB DTD 9/29/03 $ 100,000.00 $ 100,000.00 $ 100,000.00 $ 100,000.00
FHLB DTD 6/30/03 $ 100,411.37 $ 100,411.37 $ 100,411.37 $ 100,411.37
FHLMC DTD 8/14/03 $ 150,000.00 $ 150,000.00 $ 150,000.00 $ 150,000.00
FHLMC DTD 6/30/03 $ 99,750.00 $ 99,750.00 $ 99,750.00 $ 99,750.00
FNMA DTD 2nJ03 $ 205,000.00 $ 205,000.00 $ 205,000.00 $ 205,000.00
FNMA DTD 3/30/04 $ . 100,000.12 $ 100,000.12 $ 100,000.12 $ 100,000.12
FNMA DTD 4/8/04 $ 200,394.17 $ 200,394.17 $ 200,394.17 $ 200,394.17
FHLB DTD 4/19/04 $ 250,000.00 $ 250,000.00 $ 250,000.00 $ 250,000.00
FHLM DTD 11/28/03 $ $ $ $
FHLM DTD 3/25/04 $ 150,000.00 $ 150,000.00 $ 150,000.00 $ 150,000.00
FHLM DTD 3/17/04 $ 99,937.50 $ 99,937.50 $ 99,937.50 $ 99,937.50
FHLM DTD 3/24/04 $ 150,000.00 $ 150,000.00 $ 150,000.00 $ 150,000.00
FHLM DTD 2/27/03 $ '165,000.00 $ 165,000.00 $ 165,000.00 $ 165,000.00
Other Transactions
Monthly Adjustments $
Ending Balance $ 1,770,493.16 $ 1,770,493.16 $ 1,770,493.16 $ 1,770,493.16
Smith Barney CD's
Beginning $ 657,100.00 $ 657,100.00 $ 657,100.00 $ 657,100.00
Direct Merchants Bank $ 100,000.00 $ 100,000.00 $ 100,000.00 $ 100,000.00
Capitol One Bank $ 100,000.00 $ 100,000.00 $ 100,000.00 $ 100,000.00
Hemisphere Nail Bank $ 96,000.00 $ 96,000.00 $ 96,000.00 $ 96,000.00
Lehman Brothers Bank $ 96,000.00 $ 96,000.00 $ 96,000.00 $ 96,000.00
CIB Bank $ 89,100.00 $ 89,100.00 $ 89,100.00 $ 89,100.00
Compass Bank $ $ $ $
1st. Nail Bk of Nevada $ 80,000.00 $ 80,000.00 $ 80,000.00 $ 80,000.00
Cole Taylor Bank $ 96,000.00 $ 96,000.00 $ 96,000.00 $ 96,000.00
Other Transactions
Monthly Adjustments $
Ending Balance $ 657,100.00 $ 657,100.00 $ 657,100.00 $ 657,100.00
Smith Barney - Subtotal $ 2,597,880.48 $ 2,438,776.58 $ 2,451,565.21 $ 2,463,618.55
Total Cash/lnvestments Per Statement $ 7,798,341.02 $ 7,587,274.24 $ 7,644,185.02 $ 7,449,927.38
General Ledger Cash Balance $ 7,798,341.02 $ 7,587,274.24 $ 7,644,185.02 $ 7,449,927.38
Total Monthly Interest $ 96,275.79 $ 5,535.96 $ 12,669.46 $ 57,601.58 $ 13,378.55
2006 MONTHLY CASH/GENERAL LEDGER BALANCE RECONCILlAT
2006 Interest 5/31/2006 6/30/2006 7/31/2006
Bank Checking Statement Balance $ 294,770.44 $ 1,274,368.71 $ 1,004,807.57
Outstanding Deposits $ 0.01 $ 0.01
Outstanding Checks $ (141,163.62) $ (883,640.87) $ (507,562.15)
Monthly Interest $ 14,855.51 $ 1,314.32 $ 2,103.75 $ 3,672.17
Net Checking Account Balance $ 153,606.82 $ 390,727.85 $ 497,245.43
Investments
Mainstreet Bank Flex CD
Beginning $ 1,001,304.48 $ 1,001,304.48 $ 676,138.90
Other Tansactions $ (336,295.42) $ (300,000.00)
Monthly Interest $ 7,356.06 $ 11,129.84 $
Ending Balance $ 1,001,304.48 $ 676,138.90 $ .c';~::376,138.90
Mainstreet Bank CD's
Beginning $ 3,676,577.55 $ 3,676,577.55 $ 2,599,341.31
1000532645 CDARS $ $ $
1000669381 CDARS $ 1,104,034.85 $ $
1000532637 CDARS $ 2,572,542.70 $ 2,599,341.31 $ 2,599,341.31
Other Transactions
Monthly Interest - CD $
Monthly Interest - CDARS $ 35,541.45 $ 36,468.34 $
Ending Balance $ 3,676,577.55 $ 2,599,341.31 $ 2,599,341.31
Mainstreet Bank - Subtotal $ 4,831,488.85 $ 3,666,208.06 $ 3,472,725.64
Smith Barney
Smith Bamey Money Fund
Beginning $ 36,025.39 $ 40,370.79 $ 50,163.12
Monthly Adjustments $ 38,522.77 $ 4,345.40 $ 9,792.33 $ 1,948.81
Other Transactions
Ending Balance $ 40,370.79 $ 50,163.12 $ 52,111.93
Smith Barney Gov't Bonds
Beginning $ 1,770,493.16 $ 1,770,493.16 $ 1,770,493.16
FHLB DTD 9/29/03 $ 100,000.00 $ 100,000.00 $ 100,000.00
FHLB DTD 6/30/03 $ 100,411.37 $ 100,411.37 $ 100,411.37
FHLMC DTD 8/14/03 $ 150,000.00 $ 150,000.00 $ 150,000.00
FHLMC DTD 6/30103 $ 99,750.00 $ 99,750.00 $ 99,750.00
FNMA DTD 2/7/03 $ 205,000.00 $ 205,000.00 $ 205,000.00
FNMA DTD 3/30/04 $ 100,000.12 $ 100,000.12 $ 100,000.12
FNMA DTD 4/8/04 $ 200,394.17 $ 200,394.17 $ 200,394.17
FHLB DTD 4/19/04 $ 250,000.00 $ 250,000.00 $ 250,000.00
FHLM DTD 11/28/03 $ $ $
FHLM DTD 3/25104 $ 150,000.00 $ 150,000.00 $ 150,000.00
FHLM DTD 3/17/04 $ 99,937.50 $ 99,937.50 $ 99,937.50
FHLM DTD 3/24/04 $ 150,000.00 $ 150,000.00 $ 150,000.00
FHLM DTD 2/27/03 $ 165,000.00 $ 165,000.00 $ 165,000.00
Other Transactions
Monthly Adjustments $
Ending Balance $ 1,770,493.16 $ 1,770,493.16 $ 1,770,493.16
Smith Barney CD's
Beginning $ 657,100.00 $ 657,100.00 $ 557,100.00
Direct Merchants Bank $ 100,000.00 $ $
Capitol One Bank $ 100,000.00 $ 100,000.00 $ 100,000.00
Hemisphere Natl Bank $ 96,000.00 $ 96,000.00 $ 96,000.00
Lehman Brothers Bank $ 96,000.00 $ 96,000.00 $ 96,000.00
CIB Bank $ 89,100.00 $ 89,100.00 $ 89,100.00
Compass Bank $ $ $
1st. Nail Bk of Nevada $ 80,000.00 $ 80,000.00 $ 80,000.00
Cole Taylor Bank $ 96,000.00 $ 96,000.00 $ 96,000.00
Other Transactions
Monthly Adjustments $
Ending Balance $ 657,100.00 $ 557,100.00 $ ...:.c ~557,tO.0.00
Smith Barney - Subtotal $ 2,467,963.95 $ 2,377,756.28 $ 2,379,705.09
Total Cashllnvestments Per Statement $ 7,299,452.80 $ 6,043,964.34 $ 5,852,430.73
General Ledger Cash Balance $ 7,299,452.80 $ 6,043,964.34 $. 5,852,430.73
Total Monthly Interest $ 96,275.79 $ 5,659.72 $ 59,494.26 $ 5,620.98
BOND BID SALE RESULTS
DATE: AUGUST 9, 2006
TO: MAYOR, CITY COUNCIL & STAFF
FROM: JOHN W. MEYER, FINANCE DIRECTOR
SUBJECT: $2,700,000 GO IMPROVEMENT BONDS OF 2006A - SALE
The proceeds from this bond are to support the construction of improvements for
Hunters Crossing 3 and Backage Business Park projects. The city received 5 bids
for this bond sale. The best bid for the city is the bid received that has the
lowest Net Effective Interest Rate. North American Capital Markets of Minneapolis,
Minnesota submitted a bid with a Net Effective Interest Rate of 4.19950%. To complete the sale,
the city will need to pass the attached resolution prepared by bond counsel awarding the bid
to North American Capital Markets.
Below is a bid tabulation for the sale.
CITY OF CENTERVILLE
BID TABULATION
$2,700,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2006A
AUGUST 9, 2006
Good
Total Interest Net Effective Faith
Bidder Bid Cost Interest Rate Deposit
United Bankers' Bank $ 2,677,050.00 $ 1,120,216.25 4.236020% Sure Bid
Cronin & Co. Inc. $ 2,665,246.45 $ 1,148,866.05 4.334300% Sure Bid
North American Capital Markets $ 2,675,700.00 $1,110,558.75 4.199500% Sure Bid
Piper Jaffray Inc. $ 2,666 772.95 $ 1,136,339.55 4.296992% Sure Bid
Wells Fargo Brokerage Services, LLC $ 2,688,390.00 $ 1,138,020.63 4.303300% Sure Bid
.
EHLERS
&A S S 0 C I ATE SIN C
From:
Subject:
Date:
John Meyers ,L"
Jerry Shannon j
Sale Results Recommendations
o
:E
w
:E
To:
August 9, 2006
The City received 5 bids on the sale of the $2,700,000 GO Improvement Bonds, Series
2006A. The following is a summary of pertinent information for the City Council.
The City received a confirmation of its A2 rating from Moody's
Initial forecast ofNIC was 4.87%
Best bid submitted by North American Capital Markets at 4.1995%
Other bids ranged from 4.23 to 4.34
Theses bids are in line with other comparable sales in Minnesota
City of Marshall $6.7 million
City of Proctor $1.135 million
City of Sauk Rapids $905,000
4.24%
4.34
4.23%
Recommend Award to NACM
3060 Centre Pointe Drive
Roseville, MN 55113
(651) 697-8554 Fax: (651) 697-8555
jshannon@ehlers-inc.com
www.ehlers-inc.com
Extract of Minutes of Meeting
of the City Council of the City of
Centerville, Anoka County, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Centerville, Minnesota, was duly held in the City Hall in said City on Wednesday, August 9,
2006, commencing at 6:30 P.M.
The following members were present:
and the following were absent:
* * *
* * *
* * *
The Mayor announced that the next order of business was consideration of the proposals
which had been received for the purchase of the City's $2,700,000 General Obligation
Improvement Bonds, Series 2006A.
The City Administrator presented a tabulation of the proposals that had been received in
the manner specified in the Terms of Offering for the Bonds. The proposals were as set forth in
EXHIBIT A attached.
After due consideration of the proposals, Member
then
introduced the following resolution, and moved its adoption:
RESOLUTION NOc:c, ,"'- O?!r
A RESOLUTION AWARDING THE SALE OF $2,700,000
GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2006A
FIXING THEIR FORM AND SPECIFICATIONS;
DIRECTING THEIR EXECUTION AND DELIVERY;
AND PROVIDING FOR THEIR PAYMENT
BE IT RESOLVED By the City Council of the City of Centerville, Anoka County,
Minnesota (City) as follows:
Section 1.
Sale of Bonds.
1.01 It is hereby determined that:
(a) the following assessable public improvements (the Improvements)
have been made, duly ordered or contracts let for the construction thereof, by the City
pursuant to the provisions of Minnesota Statutes, Chapter 429 (Act);
Proiect Designation & Description:
Total Proiect Cost
Hunter's Crossing 3 rd Addition, 21 st Avenue,
Improvements
Construction and related costs
Engineering
Costs of Issuance
Capitalized Interest
Discount Allowance
Total
$2,187,691
225,000
42,809
192,000
52.500
$2,700,000
[Amounts are estimates, to be finalized upon award]
(b) it is necessary and expedient to the sound financial management of
the affairs of the City to issue $2,700,000 General Obligation Improvement Bonds, Series
2006A (Bonds) pursuant to the Act to provide financing for the Improvements.
(c) The City is authorized by Minnesota Statutes, section 475.60,
subdivision 2(9) to negotiate the sale of the Bonds, it being determined that the City has
retained an independent financial adviser in connection with such sale. The actions of the
City staff and financial advisers in negotiating the sale of the Bonds are ratified and
confirmed in all aspects.
294858v2 S18 CE155-26
2
1.02. Award to the Purchaser and Interest Rates. The proposal of North American
Capital Markets, Minneapolis, Minnesota (Purchaser) to purchase $2,700,000 General
Obligation Improvement Bonds, Series 2006A (Bonds) of the City described in the Terms of
Offering thereof is hereby found and determined to be a reasonable offer and is hereby accepted,
the proposal being to purchase the Bonds at a price of $2,675,700 plus accrued interest to date of
delivery, for Bonds bearing interest as follows:
Year of
Maturity
Interest
Rate
Year of
Maturity
Interest
Rate
2009
2010
2011
2012
2013
2014
3.70%
3.75%
3.80%
3.85%
3.90%
3.95%
2017
2018
2019
2020
2021
2022
4.05%
4.1 0%
4.15%
4.20%
4.25%
4.30%
Term Bond due March 1,2016 at 4.00%.
Net interest rate: 4.19950%
1.03. Purchase Contract. The sum of $28,200 being the amount proposed by the
Purchaser in excess of $2,647,500 shall be credited to the Debt Service Fund hereinafter created,
or deposited in the Construction Fund under Section 4.01 hereof, as determined by the City's
financial advisor. The City Finance Director is directed to retain the good faith check of the
Purchaser, pending completion of the sale of the Bonds, and to return the good faith checks of
the unsuccessful proposers. The Mayor and City Administrator are directed to execute a contract
with the Purchaser on behalf of the City.
1.04. Terms and Principal Amounts of the Bonds. The City will forthwith issue and sell
the Bonds pursuant to Minnesota Statutes, Chapter 429 (Act) in the total principal amount of
$2,700,000, originally dated September 1, 2006, in the denomination of $5,000 each or any
integral multiple thereof, numbered No. R-1, upward, bearing interest as above set forth, and
maturing serially on March 1 in the years and amounts as follows:
Year Amount Year Amount
2009 $135,000 2017 $205,000
2010 145,000 2018 215,000
2011 150,000 2019 220,000
2012 160,000 2020 235,000
2013 170,000 2021 250,000
2014 175,000 2022 260,000
Term Bonds due March 1,2016 in the aggregate principal amount of$380,000.
294858v2 SJB CE155-26
3
1.05. Optional Redemption. The City may elect on March 1, 2010, and on any day
thereafter to prepay Bonds due on or after March 1, 2011. Redemption may be in whole or in
part and if in part, at the option of the City and in such manner as the City will determine. If less
than all Bonds of a maturity are called for redemption, the City will notifY DTC (as defined in
Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine
by lot the amount of each participant's interest in such maturity to be redeemed and each
participant will then select by lot the beneficial ownership interests in such maturity to be
redeemed. Prepayments will be at a price of par plus accrued interest.
1.06. Mandatory Redemption. The Term Bonds are subject to mandatory sinking fund
redemption and shall be redeemed in part by lot at par plus accrued interest on the sinking fund
installment dates and in the principal amounts as follows:
Sinking Fund Installment Date
Principal Amount
March 1,
2016 Term Bonds
2015
2016 (maturity)
$185,000
195,000
The specific Term Bonds to be redeemed will be selected by lot by the Registrar. All
prepayments will be at a price of par plus accrued interest.
Section 2.
Registration and Payment.
2.01. Registered Form. The Bonds will be issued only in fully registered form. The
interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by
check or draft issued by the Registrar described herein.
2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest
payment date preceding the date of authentication to which interest on the Bond has been paid
or made available for payment, unless (i) the date of authentication is an interest payment date
to which interest has been paid or made available for payment, in which case the Bond will be
dated as ofthe date of authentication, or (ii) the date of authentication is prior to the first interest
payment date, in which case the Bond will be dated as of the date of original issue. The interest
on the Bonds is payable on March 1 and September 1 of each year, commencing March 1,2007,
to the registered owners of record thereof as of the close of business on the fifteenth day of the
immediately preceding month, whether or not that day is a business day.
2.03. Registration. The City will appoint a bond registrar, transfer agent, authenticating
agent and paying agent (Registrar). The effect of registration and the rights and duties of the
City and the Registrar with respect thereto are as follows:
(a) Register. The Registrar must keep at its principal corporate trust office a
bond register in which the Registrar provides for the registration of ownership of Bonds
294858v2 SJB CE155-26
4
and the registration of transfers and exchanges of Bonds entitled to be registered,
transferred or exchanged.
(b) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed
by the registered owner thereof or accompanied by a written instrument of transfer, in
form satisfactory to the Registrar, duly executed by the registered owner thereof or by an
attorney duly authorized by the registered owner in writing, the Registrar will
authenticate and deliver, in the name of the designated transferee or transferees, one or
more new Bonds of a like aggregate principal amount and maturity, as requested by the
transferor. The Registrar may, however, close the books for registration of any transfer
after the fifteenth day of the month preceding each interest payment date and until that
interest payment date.
(c) Exchange of Bonds. When Bonds are surrendered by the registered owner
for exchange the Registrar will authenticate and deliver one or more new Bonds of a like
aggregate principal amount and maturity as requested by the registered owner or the
owner's attorney in writing.
(d) Cancellation. Bonds surrendered upon transfer or exchange will be
promptly cancelled by the Registrar and thereafter disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When a Bond is presented to the
Registrar for transfer, the Registrar may refuse to transfer the Bond until the Registrar is
satisfied that the endorsement on the Bond or separate instrument of transfer is valid and
genuine and that the requested transfer is legally authorized. The Registrar will incur no
liability for the refusal, in good faith, to make transfers which it, in its judgment, deems
improper or unauthorized.
(f) Persons Deemed Owners. The City and the Registrar may treat the person
in whose name a Bond is registered in the bond register as the absolute owner of the
Bond, whether the Bond is overdue or not, for the purpose of receiving payment of, or on
account of, the principal of and interest on the Bond and for all other purposes and
payments so made to registered owner or upon the owner's order will be valid and
effectual to satisfy and discharge the liability upon the Bond to the extent of the sum or
sums so paid.
(g) Taxes, Fees and Charges. The Registrar may impose a charge upon the
owner thereof for a transfer or exchange of Bonds, sufficient to reimburse the Registrar
for any tax, fee or other governmental charge required to be paid with respect to the
transfer or exchange.
(h) Mutilated, Lost, Stolen or Destroyed Bonds. If a Bond becomes mutilated
or is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount,
number, maturity date and tenor in exchange and substitution for and upon cancellation
of the mutilated Bond or in lieu of and in substitution for a Bond destroyed, stolen or lost,
upon the payment of the reasonable expenses and charges of the Registrar in connection
294858v2 SJB CE155-26 5
therewith; and, in the case of a Bond destroyed, stolen or lost, upon filing with the
Registrar of evidence satisfactory to it that the Bond was destroyed, stolen or lost, and of
the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or
indemnity in form, substance and amount satisfactory to it and as provided by law, in
which both the City and the Registrar must be named as obligees. Bonds so surrendered
to the Registrar will be cancelled by the Registrar and evidence of such cancellation must
be given to the City. If the mutilated, destroyed, stolen or lost Bond has already matured
or been called for redemption in accordance with its terms it is not necessary to issue a
new Bond prior to payment.
(i) Redemption. In the event any of the Bonds are called for redemption,
notice thereof identifying the Bonds to be redeemed will be given by the Registrar by
mailing a copy of the redemption notice by first class mail (postage prepaid) to the
registered owner of each Bond to be redeemed at the address shown on the registration
books kept by the Registrar and by publishing the notice if required by law. Failure to
give notice by publication or by mail to any registered owner, or any defect therein, will
not affect the validity of the proceedings for the redemption of Bonds. Bonds so called
for redemption will cease to bear interest after the specified redemption date, provided
that the funds for the redemption are on deposit with the place of payment at that time.
2.04. Appointment of Initial Registrar. The City appoints U.S. Bank National
Association, St. Paul, Minnesota, as the initial Registrar. The Mayor and the City Administrator
are authorized to execute and deliver, on behalf of the City, a contract with the Registrar. Upon
merger or consolidation of the Registrar with another corporation, if the resulting corporation is a
bank or trust company authorized by law to conduct such business, the resulting corporation is
authorized to act as successor Registrar. The City agrees to pay the reasonable and customary
charges of the Registrar for the services performed. The City reserves the right to remove the
Registrar upon 30 days' notice and upon the appointment of a successor Registrar, in which event
the predecessor Registrar must deliver all cash and Bonds in its possession to the successor
Registrar and must deliver the bond register to the successor Registrar. On or before each
principal or interest due date, without further order of this Council, the City Finance Director
must transmit to the Registrar monies sufficient for the payment of all principal and interest then
due.
2.05. Execution, Authentication and Delivery. The Bonds will be prepared under the
direction of the City Administrator and executed on behalf of the City by the signatures of the
Mayor and the City Administrator, provided that those signatures may be printed, engraved or
lithographed facsimiles of the originals. If an officer whose signature or a facsimile of whose
signature appears on the Bonds ceases to be such officer before the delivery of a Bond, that
signature or facsimile will nevertheless be valid and sufficient for all purposes, the same as if the
officer had remained in office until delivery. Notwithstanding such execution, a Bond will not
be valid or obligatory for any purpose or entitled to any security or benefit under this Resolution
unless and until a certificate of authentication on the Bond has been duly executed by the manual
signature of an authorized representative of the Registrar. Certificates of authentication on
different Bonds need not be signed by the same representative. The executed certificate of
authentication on a Bond is conclusive evidence that it has been authenticated and delivered
294858v2 SJB CE155-26
6
under this Resolution. When the Bonds have been so prepared, executed and authenticated, the
City Administrator will deliver the same to the Purchaser upon payment of the purchase price in
accordance with the contract of sale heretofore made and executed, and the Purchaser is not
obligated to see to the application of the purchase price.
2.06. Temporary Bonds. The City may elect to deliver in lieu of printed definitive
Bonds one or more typewritten temporary Bonds in substantially the form set forth in Section 3
with such changes as may be necessary to reflect more than one maturity in a single temporary
bond. Upon the execution and delivery of definitive Bonds the temporary Bonds will be
exchanged therefor and cancelled.
Section 3.
Form of Bond.
3.01. Execution ofthe Bonds. The Bonds will be printed or typewritten in substantially
the following form:
No. R-
$
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF CENTERVILLE
GENERAL OBLIGATION IMPROVEMENT BOND, SERIES 2006A
Rate
Maturity
Date of
Original Issue
CUSIP
March 1,20_
September 1, 2006
Registered Owner: Cede & Co.
The City of Centerville, Minnesota, a duly organized and existing municipal corporation
in Anoka County, Minnesota (City), acknowledges itself to be indebted and for value received
hereby promises to pay to the Registered Owner specified above or registered assigns, the
principal sum of $ on the maturity date specified above, with interest thereon from
the date hereof at the annual rate specified above, payable March 1 and September 1 in each
year, commencing March 1, 2007, to the person in whose name this Bond is registered at the
close of business on the fifteenth day (whether or not a business day) of the immediately
preceding month. The interest hereon and, upon presentation and surrender hereof, the principal
hereof are payable in lawful money of the United States of America by check or draft by U.S.
Bank National Association, St. Paul, Minnesota, as Bond Registrar, Paying Agent, Transfer
Agent and Authenticating Agent, or its designated successor under the Resolution described
herein. For the prompt and full payment of such principal and interest as the same respectively
become due, the full faith and credit and taxing powers of the City have been and are hereby
irrevocably pledged.
294858v2 SJB CE155-26
7
The City may elect on March 1,2010, and on any day thereafter to prepay Bonds due on
or after March 1, 2011. Redemption may be in whole or in part and if in part, at the option of the
City and in such manner as the City will determine. If less than all Bonds ofa maturity are
called for redemption, the City will notify Depository Trust Company (DTC) of the particular
amount of such maturity to be prepaid. DTC will determine by lot the amount of each
participant's interest in such maturity to be redeemed and each participant will then select by lot
the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a
price of par plus accrued interest.
The Term Bonds are subject to mandatory sinking fund redemption and shall be
redeemed in part by lot at par plus accrued interest on the sinking fund installment dates and in
the principal amounts as follows:
Sinking Fund Installment Date
Principal Amount
March 1,
2016 Term Bonds
2015
2016 (maturity)
$185,000
195,000
The specific Term Bonds to be redeemed will be selected by lot by the Registrar. All
prepayments will be at a price of par plus accrued interest.
The City Council has designated the issue of Bonds of which this Bond forms a part as
"qualified tax exempt obligations" within the meaning of Section 265(b)(3) of the Internal
Revenue Code of 1986, as amended (the Code) relating to disallowance of interest expense for
financial institutions and within the $10 million limit allowed by the Code for the calendar year
of issue.
This Bond is one of an issue in the aggregate principal amount of $2,700,000 all of like
original issue date and tenor, except as to number, maturity date, redemption privilege, and
interest rate, all issued pursuant to a resolution adopted by the City Council on August 9, 2006
(the Resolution), for the purpose of providing money to defray the expenses incurred and to be
incurred in making local improvements, pursuant to and in full conformity with the Constitution
and laws ofthe State of Minnesota, including Minnesota Statutes, Chapter 429, and the principal
hereof and interest hereon are payable from special assessments against property specially
benefited by local improvements as set forth in the Resolution to which reference is made for a
full statement of rights and powers thereby conferred. The full faith and credit of the City are
irrevocably pledged for payment of this Bond and the City Council has obligated itself to levy ad
valorem taxes on all taxable property in the City in the event of any deficiency in special
assessments pledged, which taxes may be levied without limitation as to rate or amount. The
Bonds of this series are issued only as fully registered Bonds in denominations of $5,000 or any
integral multiple thereof of single maturities.
294858v2 SJB CE155-26
8
As provided in the Resolution and subject to certain limitations set forth therein, this
Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by
the registered owner hereof in person or by the owner's attorney duly authorized in writing, upon
surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar,
duly executed by the registered owner or the owner's attorney; and may also be surrendered in
exchange for Bonds of other authorized denominations. Upon such transfer or exchange the City
will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of
the same aggregate principal amount, bearing interest at the same rate and maturing on the same
date, subject to reimbursement for any tax, fee or governmental charge required to be paid with
respect to such transfer or exchange.
The City and the Bond Registrar may deem and treat the person in whose name this Bond
is registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose
of receiving payment and for all other purposes, and neither the City nor the Bond Registrar will
be affected by any notice to the contrary.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts,
conditions and things required by the Constitution and laws of the State of Minnesota, to be
done, to exist, to happen and to be performed preliminary to and in the issuance of this Bond in
order to make it a valid and binding general obligation of the City in accordance with its terms,
have been done, do exist, have happened and have been performed as so required, and that the
issuance of this Bond does not cause the indebtedness of the City to exceed any constitutional or
statutory limitation of indebtedness.
This Bond is not valid or obligatory for any purpose or entitled to any security or benefit
under the Resolution until the Certificate of Authentication hereon has been executed by the
Bond Registrar by manual signature of one of its authorized representatives.
IN WITNESS WHEREOF, the City ofCenterville, Anoka County, Minnesota, by its City
Council, has caused this Bond to be executed on its behalf by the facsimile or manual signatures
of the Mayor and City Administrator and has caused this Bond to be dated as of the date set forth
below.
Dated:
CITY OF CENTERVILLE, MINNESOTA
(Facsimile)
City Administrator
(Facsimile)
Mayor
294858v2 SJB CE155-26
9
CERTIFICATE OF AUTHENTICATION
This is one of the Bonds delivered pursuant to the Resolution mentioned within.
U.S. BANK NATIONAL ASSOCIATION
By
Authorized Representative
The following abbreviations, when used in the inscription on the face of this Bond, will
be constructed as though they were written out in full according to applicable laws or
re~~m: .
TEN COM -- as tenants
III common
UNIF GIFT MIN ACT Custodian
(Cust) (Minor)
TEN ENT -- as tenants
by entireties
under Uniform Gifts or
Transfers to Minors
JT TEN --
as joint tenants with
right of survivorship and
not as tenants in common
Act. . . . .
(State)
Additional abbreviations may also be used though not in the above list.
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and
does hereby irrevocably constitute and appoint attorney to
transfer the said Bond on the books kept for registration of the within Bond, with full power of
substitution in the premises.
Dated:
Notice:
The assignor's signature to this assignment must correspond with the name
as it appears upon the face of the within Bond in every particular, without
alteration or any change whatever.
294858v2 SJB CE155-26
10
Signature Guaranteed:
NOTICE: Signature(s) must be guaranteed by a financial institution that is a member of the
Securities Transfer Agent Medallion Program (liST AMP"), the Stock Exchange Medallion
Program ("SEMP"), the New York Stock Exchange, Inc. Medallion Signatures Program ("MSP")
or other such "signature guarantee pro gram II as may be determined by the Registrar in addition
to, or in substitution for, STAMP, SEMP or MSP, all in accordance with the Securities Exchange
Act of 1934, as amended.
The Bond Registrar will not effect transfer of this Bond unless the information
concerning the assignee requested below is provided.
Name and Address:
(Include information for all joint owners if this
Bond is held by joint account.)
Please insert social security or other
identifying number of assignee
PROVISIONS AS TO REGISTRATION
The ownership of the principal of and interest on the within Bond has been registered on
the books of the Registrar in the name of the person last noted below.
Date of Registration
Registered Owner
Signature of
Officer of Registrar
Cede & Co.
Federal ID #13-2555119
3.02. Approving Legal Opinion. The City Administrator is directed to obtain a copy of
the proposed approving legal opinion of Kennedy & Graven, Chartered, Minneapolis,
Minnesota, which is to be complete except as to dating thereof and to cause the opinion to be
printed on or accompany each Bond.
294858v2 SlB CE155-26
11
Section 4.
Payment; Security; Pledges and Covenants.
4.01. Debt Service Fund. (a) The Bonds are payable from the Improvement Bonds,
Series 2006A Debt Service Fund (Debt Service Fund) hereby created and special assessments
(Assessments) levied or to be levied for the Improvements described in Section 1.01 are hereby
pledged to the Debt Service Fund. If a payment of principal or interest on the Bonds becomes
due when there is not sufficient money in the Debt Service Fund to pay the same, the City
Administrator is directed to pay such principal or interest from the general fund of the City, and
the general fund will be reimbursed for those advances out of the proceeds of Assessments when
collected. There is appropriated to the Debt Service Fund (i) capitalized interest funded from
Bond proceeds, if any, (ii) any amount over the minimum purchase price paid by the Purchaser,
to the extent designated for deposit in the Debt Service Fund in accordance with Section 1.03
and (iii) the accrued interest paid by the Purchaser upon closing and delivery of the Bonds, if
any.
(b) The proceeds of the Bonds, less the appropriations made in paragraph (a),
together with any other funds appropriated for the Improvements and Assessments collected
during the construction of the Improvements will be deposited in a separate construction fund
(which may contain separate accounts for each Improvement) to be used solely to defray
expenses of the Improvements and the payment of principal and interest on the Bonds prior to
the completion and payment of all costs of the Improvement. Any balance remaining in the
construction fund after completion of the Improvements may be used to pay the cost in whole or
in part of any other improvement instituted under the Act. When the Improvements are
completed and the cost thereof paid, the construction account is to be closed and subsequent
collections of Assessments for the Improvements are to be deposited in the Debt Service Fund.
4.02. City Covenants. It is hereby determined that the Improvements will directly and
indirectly benefit abutting property, and the City hereby covenants with the holders from time to
time of the Bonds as follows:
(a) The City has caused or will cause the Assessments for the Improvements
to be promptly levied so that the first installment will be collectible not later than 2008
and will take all steps necessary to assure prompt collection, and the levy of the
Assessments is hereby authorized. The City Council will cause to be taken with due
diligence all further actions that are required for the construction of each Improvement
financed wholly or partly from the proceeds of the Bonds, and will take all further actions
necessary for the final and valid levy of the Assessments and the appropriation of any
other funds needed to pay the Bonds and interest thereon when due.
(b) In the event of any current or anticipated deficiency in Assessments the
City Council will levy ad valorem taxes in the amount of the current or anticipated
deficiency.
(c) The City will keep complete and accurate books and records showing:
receipts and disbursements in connection with the Improvements, Assessments levied
294858v2 8m CEl55-26
12
therefor and other funds appropriated for their payment, collections thereof and
disbursements therefrom, monies on hand and, the balance of unpaid Assessments.
(d) The City will cause its books and records to be audited at least annually
and will furnish copies of such audit reports to any interested person upon request.
4.03. No Tax Levy Required. It is hereby determined that the estimated collections of
Assessments and interest thereon for payment of principal and interest on the Bonds will produce
at least five percent in excess of the amount needed to meet when due, the principal and interest
payments on the Bonds and that no tax levy is needed at this time.
4.04. County Auditor Certificate as to Registration. The City Clerk is authorized and
directed to file a certified copy of this resolution with the Manager of Property Records and
Taxation of Anoka County and to obtain the certificate required by Minnesota Statutes, Section
475.63.
Section 5.
Authentication of Transcript.
5.01. City Proceedings and Records. The officers of the City are authorized and directed
to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies
of proceedings and records of the City relating to the Bonds and to the financial condition and
affairs of the City, and such other certificates, affidavits and transcripts as may be required to
show the facts within their knowledge or as shown by the books and records in their custody and
under their control, relating to the validity and marketability of the Bonds, and such instruments,
including any heretofore furnished, may be deemed representations of the City as to the facts
stated therein.
5.02. Certification as to Official Statement. The Mayor, City Administrator and Finance
Director are authorized and directed to certify that they have examined the Official Statement
prepared and circulated in connection with the issuance and sale of the Bonds and that to the best
of their knowledge and belief the Official Statement is a complete and accurate representation of
the facts and representations made therein as of the date of the Official Statement.
5.03. Payment of Costs of Issuance. The City authorizes the Purchaser to forward the
amount of Bond proceeds allocable to the payment of issuance expenses (other than amounts
payable to Kennedy & Graven, Chartered as Bond Counsel) to U.S. Trust Company,
Minneapolis, Minnesota on the closing date for further distribution as directed by the City's
financial adviser, Ehlers & Associates, Inc.
Section 6.
Tax Covenant.
6.01. Tax-Exempt Bonds. The City covenants and agrees with the holders from time to
time of the Bonds that it will not take or permit to be taken by any of its officers, employees or
agents any action which would cause the interest on the Bonds to become subject to taxation
under the Internal Revenue Code of 1986, as amended (the Code), and the Treasury Regulations
294858v2 S18 CE155-26
13
promulgated thereunder, in effect at the time of such actions, and that it will take or cause its
officers, employees or agents to take, all affirmative action within its power that may be
necessary to ensure that such interest will not become subject to taxation under the Code and
applicable Treasury Regulations, as presently existing or as hereafter amended and made
applicable to the Bonds.
6.02. No Rebate Required. (a) The City will comply with requirements necessary
under the Code to establish and maintain the exclusion from gross income of the interest on the
Bonds under Section 103 of the Code, including without limitation requirements relating to
temporary periods for investments, limitations on amounts invested at a yield greater than the
yield on the Bonds, and the rebate of excess investment earnings to the United States, if the
Bonds (together with other obligations reasonably expected to be issued in calendar year 2006)
exceed the small-issuer exception amount of $5,000,000.
(b) For purposes of qualifying for the small-issuer exception to the federal arbitrage
rebate requirements, the City finds, determines and declares that the aggregate face amount of all
tax-exempt bonds (other than private activity bonds) issued by the City (and all subordinate
entities of the City) during the calendar year in which the Bonds are issued is not reasonably
expected to exceed $5,000,000, within the meaning of Section 148(f)(4)(D) ofthe Code.
6.03. Not Private Activity Bonds. The City further covenants not to use the proceeds of
the Bonds or to cause or permit them or any of them to be used, in such a manner as to cause the
Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of
the Code.
6.04. Qualified Tax-Exempt Obligations. In order to qualify the Bonds as "qualified
tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code, the City makes the
following factual statements and representations:
(a) the Bonds are not "private activity bonds" as defined in Section 141 of the
Code;
(b) the City hereby designates the Bonds as "qualified tax-exempt
obligations" for purposes of Section 265(b)(3) of the Code;
(c) the reasonably anticipated amount of tax-exempt obligations (other than
any private activity bonds that are not qualified 501(c)(3) bonds) which will be issued by
the City (and all subordinate entities of the City) during calendar year 2006 will not
exceed $10,000,000; and
(d) not more than $10,000,000 of obligations issued by the City during
calendar year 2006 have been designated for purposes of Section 265(b)(3) of the Code.
6.05. Procedural Requirements. The City will use its best efforts to comply with any
federal procedural requirements which may apply in order to effectuate the designations made by
this section.
294858v2 SJB CE155-26
14
Section 7.
Book-Entry System; Limited Obligation of City.
7.01. DTC. The Bonds will be initially issued in the form of a separate single
typewritten or printed fully registered Bond for each of the maturities set forth in Section 1.03
hereof. Upon initial issuance, the ownership of each Bond will be registered in the registration
books kept by the Bond Registrar in the name of Cede & Co., as nominee for The Depository
Trust Company, New York, New York, and its successors and assigns ("DIC"). Except as
provided in this section, all of the outstanding Bonds will be registered in the registration books
kept by the Bond Registrar in the name of Cede & Co., as nominee ofDTC.
7.02. Participants. With respect to Bonds registered in the registration books kept by
the Bond Registrar in the name of Cede & Co., as nominee ofDTC, the City, the Bond Registrar
and the Paying Agent will have no responsibility or obligation to any broker dealers, banks and
other financial institutions from time to time for which DTC holds Bonds as securities depository
(Participants) or to any other person on behalf of which a Participant holds an interest in the
Bonds, including but not limited to any responsibility or obligation with respect to (i) the
accuracy of the records of DTC, Cede & Co. or any Participant with respect to any ownership
interest in the Bonds, (ii) the delivery to any Participant or any other person (other than a
registered owner of Bonds, as shown by the registration books kept by the Bond Registrar,) of
any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to
any Participant or any other person, other than a registered owner of Bonds, of any amount with
respect to principal of, premium, if any, or interest on the Bonds. The City, the Bond Registrar
and the Paying Agent may treat and consider the person in whose name each Bond is registered
in the registration books kept by the Bond Registrar as the holder and absolute owner of such
Bond for the purpose of payment of principal, premium and interest with respect to such Bond,
for the purpose of registering transfers with respect to such Bonds, and for all other purposes.
The Paying Agent will pay all principal of, premium, if any, and interest on the Bonds only to or
on the order of the respective registered owners, as shown in the registration books kept by the
Bond Registrar, and all such payments will be valid and effectual to fully satisfy and discharge
the City's obligations with respect to payment of principal of, premium, if any, or interest on the
Bonds to the extent of the sum or sums so paid. No person other than a registered owner of
Bonds, as shown in the registration books kept by the Bond Registrar, will receive a certificated
Bond evidencing the obligation of this resolution. Upon delivery by DTC to the City
Administrator of a written notice to the effect that DTC has determined to substitute a new
nominee in place of Cede & Co., the words "Cede & Co.," will refer to such new nominee of
DTe; and upon receipt of such a notice, the City Administrator will promptly deliver a copy of
the same to the Bond Registrar and Paying Agent.
7.03. Representation Letter. The City has heretofore executed and delivered to DIC a
Blanket Issuer Letter of Representations (Representation Letter) which shall govern payment of
principal of, premium, if any, and interest on the Bonds and notices with respect to the Bonds.
Any Paying Agent or Bond Registrar subsequently appointed by the City with respect to the
Bonds will agree to take all action necessary for all representations of the City in the
Representation letter with respect to the Bond Registrar and Paying Agent, respectively, to be
complied with at all times.
294858v2 sm CE155-26
15
7.04. Transfers Outside Book-Entry System. In the event the City, by resolution of the
City Council, determines that it is in the best interests of the persons having beneficial interests
in the Bonds that they be able to obtain Bond certificates, the City will notify DTC, whereupon
DTC will notify the Participants, of the availability through DTC of Bond certificates. In such
event the City will issue, transfer and exchange Bond certificates as requested by DTC and any
other registered owners in accordance with the provisions of this Resolution. DTC may
determine to discontinue providing its services with respect to the Bonds at any time by giving
notice to the City and discharging its responsibilities with respect thereto under applicable law.
In such event, if no successor securities depository is appointed, the City will issue and the Bond
Registrar will authenticate Bond certificates in accordance with this resolution and the provisions
hereofwill apply to the transfer, exchange and method of payment thereof.
7.05. Pavments to Cede & Co. Notwithstanding any other provision of this Resolution
to the contrary, so long as a Bond is registered in the name of Cede & Co., as nominee of DTC,
payments with respect to principal of, premium, if any, and interest on the Bond and notices with
respect to the Bond will be made and. given, respectively in the manner provided in DTC's
Operational Arrangements, as set forth in the Representation Letter.
Section 8.
Continuing Disclosure.
8.01. City Compliance with Provisions of Continuing Disclosure Certificate. The City
hereby covenants and agrees that it will comply with and carry out all of the provisions of the
Continuing Disclosure Certificate. Notwithstanding any other provision of this Resolution,
failure of the City to comply with the Continuing Disclosure Certificate is not to be considered
an event of default with respect to the Bonds; however, any Bondholder may take such actions as
may be necessary and appropriate, including seeking mandate or specific performance by court
order, to cause the City to comply with its obligations under this section.
8.02. Execution of Continuing Disclosure Certificate. "Continuing Disclosure
Certificate" means that certain Continuing Disclosure Certificate executed by the Mayor and
City Administrator and dated the date of issuance and delivery of the Bonds, as originally
executed and as it may be amended from time to time in accordance with the terms thereof.
Section 9.
Defeasance.
9.01. Pledges, Covenants, and Other Rights to Cease. When all Bonds and all interest
thereon, have been discharged as provided in this section, all pledges, covenants and other rights
granted by this resolution to the holders of the Bonds will cease, except that the pledge of the full
faith and credit of the City for the prompt and full payment of the principal of and interest on the
Bonds will remain in full force and effect. The City may discharge all Bonds which are due on any
date by depositing with the Registrar on or before that date a sum sufficient for the payment thereof
in full. If any Bond should not be paid when due, it may nevertheless be discharged by depositing
with the Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of
such deposit.
294858v2 SJB CE155-26
16
The motion for the adoption of the foregoing resolution was duly seconded by Member
, and upon vote being taken thereon, the following voted in favor
thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
294858v2 S18 CE155-26
17
STATE OF MINNESOTA )
)
COUNTY OF ANOKA ) SS.
)
CITY OF CENTERVILLE )
I, the undersigned, being the duly qualified and acting City Clerk of the City of
Centerville, Anoka County, Minnesota, do hereby certify that I have carefully compared the
attached and foregoing extract of minutes of a regular meeting of the City Council of the City
held on August 9, 2006 with the original minutes on file in my office and the extract is a full,
true and correct copy of the minutes insofar as they relate to the issuance and sale of $2,700,000
General Obligation Improvement Bonds, Series 2006A of the City.
WITNESS My hand officially as such City Clerk and the corporate seal of the City this
day of
,2006.
City Clerk
Centerville, Minnesota
(SEAL)
294858v2 SJB CE155-26
STATE OF MINNESOTA
MANAGER OF PROPERTY
RECORDS AND TAXATION'S
CERTIFICATE AS TO
REGISTRATION WHERE NO AD
V ALOREM TAX LEVY
COUNTY OF ANOKA
I, the undersigned Manager of Property Records and Taxation of Anoka County,
Minnesota, hereby certify that a resolution adopted by the City Council of the City of
Centerville, Minnesota, on August 9, 2006, relating to General Obligation Improvement Bonds,
Series 2006A, the amount of $2,700,000, dated September 1, 2006, has been filed in my office
and said obligations have been registered on he register of obligations in my office.
WITNESS My hand and official seal this _ day of
, 2006.
Manager of Property Records and Taxation
Anoka County, Minnesota
(SEAL)
Deputy
294858v2 SJB CE155-26
EXHIBIT A
PROPOSALS
CUY OF CENTERVlLLE
$2,70{l,O{lO GENERAL OBLIGATION iMPROVEMENT BONDS, SERIES 2JJOGA
Cl.UGusr 9,. 2006
Bidder
WeHls Fargo
Brokerage
Services lie
United B.ankers'
Bank
North .American
Cronin & Go. Inc. Capita] Markets
Piper ~lafWay
Inc.
2009
2D10
2011
2012
2013
2014
2015
2016
2017
2010
2019
2020
202t
2022
Sd
:$
:$
:$
:$
:$
:$
:$
:$
:$
:$
:$
:$
:$
:$
13::,003
145,000
150,000
lo0,miO
FO,OOO
175,000
135,,000
195,000
205,000
215,000
220,00D
235,000
25C,00D
2S0.000
rotal Net Interest Cost
\let :::ffec:i...e Interest Rate
, Term Bonds
Yield of the lissue
294858v2 SJB CE155-26
$ 2,677,050DO $ 2.665,246.45 :$ 2,575.7IXJ.0'D$ 2J:66,772.95 $ 2,68:Et390.00
3]500%
3.8000%
3,85GO%
3.8750%
3.9000%
3. 95GO"",
4.0OCO%
4.0500%
4.1000%
4.1500%
4.20GO%
4.2500%
4.3000%
4.35GO%
4JJOGO%
4.DOGO%
4JJOOO%
4.000.0%
4.DOOtl%
4.0000%
4JJOOO%
4.1000%
4.1000%
4.1500%
4.2500%
4.350.3%
4.4%'
Term \vi1h 20211
3.700G')t
3.7500%
3.!::J00%
3.2500%
3J100G%
3.950G%
4%'
Term ",ith 2015
4.050C%
4.1000%
4.150('f'j[,
4.2000%
4.2500%
4,3::10G%
3.75{JO',6
3.8GOO%
3.8EtlO%
3.8750%
3.9000%
-WOOO%
4.13000%
U o.DO%
4.151DO%
-1.1 EtlO%
4.2500%
4.2500',6
4.35DO%
4.3EtlO%
4.noOO%
4.DOGO%
4.nOOO%
4.[KY'uiJ%
4.0000%
4.25[JD%
4.25DO%
4.2500%
4.2500%
4.25GD%
4.2500%
4.3750%
4.3750",6
4.400D%
4.23602%
:$ 1,120,216.2e, $ 1.148J~65.n5 :$ 1, HC.55EL75$ 1.136,32ifl.Ei5 is 1,133,020.83
4..30330%
4.34423%
4.1li950%
4.296002%
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~ FILE No.673 08/09 '06 10:56
-:-.
ID:NORTH_AMER_CAPL
FAX:7634174849
PAGE
V 1
BID FORM
The City Council
Cily of Cenlerville. Minnesota
August 9. 2006
RE:
DATED:
$ 2.700,000 General Obligation Improvement Bonds, Series 2006A
September 1 , 2006
For all or nQ,.M of the above Bonds, in accordance with the Official Terms of Offering. we will pay you
$ Z( b,Z::; 7dC), 0 c:\ . (not less than $ 2.647.500) plus accrued interest on the lotal principal of $2,700,000 to
the date of delivery for (ully registered Bonds, provided that the Bonds bear the following interest rates:
Year Amount Rate Year AmounL. Rate Year Amount Rate . ~ ----
2009 $ 135,000 3-( % 2014 $ 175,000 3-'1 S % 2019 $ 220,000 4.1r'%
2010 $ 145.000 3,7S"" % 2015 $ 185,000 ) <f.. UcJ %, 2020 $ 235,000 V_La %
2011 $ 150.000 3,8 % 2016 $ 195,000 ~% 2021 $ 250,000 j~'.....~%
2012 $ 160,000 ~,.6~ % 2017 $ 205,000 <1- oil;. % 2022 $ 260,000 V~.:2L%
2013 $ 170.000 ~:...q d % 2018 $ 215,000 Y - I ()S%
The Bonds mature on MarCh 1 in each of the years as indicated above and interest is payable March 1 and September 1 in each year,
commencing March 1, 2007.
According to owr compulations (the correct computation being controlling in the award) the total net int~r.est cost of the above bid is $
I f 110 1 55 EJ. '7 S-- and the average net effective interest rate is <..f" R q r %.
We enclOSe our good faith deposit or guarantee by Financial Surety Bond in the amount $ 52,500.00. to be held by you pending
delivery and payment. If our bid is not accepted, said deposit shall be promptly returned to us. This bid is for prompt acceptance and is
conditional upon delivery of said Bonds to us or to a named registrar within 40 days from date hereof. or thereafter at our option,
By:
In conjunction with making this offer, we have received and reviewed the Official Statement, accept its terms and conditions, and have
submitted our requests for additional information or correclions to the Official Statement. As Syndicate Manager, we agree to provide
the issuer with the reoffering price of lhe Bonds within 24 hOurs of the bid acceptance.
~_~~>~ ~,I.IMU-J
71 >- Lf/7--t/&5-~
/~3' ~I /...1..('6'19
Account Manager:
Telephone No.
Fax No,
-~
The foregoing offer is hereby accepted by and on behalf of the City Council of the City of Centerville, Minnesota the
day of August 2006,
By
Mayor
Attest:
Teresa Bender
City Clerk 1-651-429-3232 Phone Number 1-651-429-8629 Fax
Good faith deposit received (for return to bidder)
CITY OF CENTERVILLE
JOHN W. MEYER
PAGE 19 of 20
I.
AUG-09-2006 11:21
WELLS-FARGO-MUNI-TRADING
612 667 9396
P.01/01
BID FORM
The City Council
City of Cenlerville. Minnesota
August 9. 2006
RE:
DATED:
$ 2,700,000 General Obligation Improvement Bonds. Series 2006A
September 1, 2006
Year Amount Rate Year Amount Rate Y€ar Amount Rate
I iff)
2009 $ 135,000 % 2014 $175.000 % 2019 $ 220,000 ~
2010 $ 145.000 % 2015 $185,000 D% 2020 $ 235.000 Yo
2011 $ 150,000 % 2016 $ 195.000 % 2021 $ 250,000 -%
2012 $ 160.000 % 2017 $ 205.000 -% 2022 $ 260,000 %
2013 $ 170,000 % 2018 $ 215,000 . %
Th~ Bonds mature on March 1 in each of thE! years as indicated above and interest ispayab'ie March 1 and September 1 in each year,
commencing March 1. 2007,
Aceording)o qu.r,~p~ti.qn~(thlf C9]reCl computation being controlling in the ~a~) the total m:t int~..re51 ~$.1 Qf the above bid is $
I, ba,-U..alJ. ft2..::l and the average neteffeclive Interest rat"Hs ~u22. %. MC-
We enclose our good faith deposit or guarantee by Financial Surety Bond in the amount $ 52500.00, to be held by you pending
delivery and payment. If our bid is not accepted. said deposit shall be promptly returned to us. This bid is for prompt acceptance and is
conditional upon delivery of said Bonds to us or to a named registrar within 40 days from date hereof, or thereafter at our option.
In conjunction with making this offer, we have received and reviewed the Official Statement, ,lHll.lept its terms and conditions. and have
submitted our requests for additional information or corrections to the Official Statement AB Syridicate Manager. we agree to provide
the issuer with the reoffering price of the Bonds within 24 hours of the bid acceptance.
By:
ct~::~ ::i~~~'LLC
Lo\~ ulo\ - \O~L\
U\.~ LOl!>' q?>.'1v
Account Manager:
Telephone No..
Fax No.
Tt)e foregoing offer is hereby accepted by and on behalf of the City Council of tile 'City of ("'~llle, Minnesota the
day of August 2006.
By
ffilIaJrllr
Attest
Teresa Bender
City Clerk 1-651-429-3232 Phone Number 1-651-429-8629 Fax
Good faith deposit received (for return to bidder)
CITY OF CENTERVlLLE
JOHN W. MEYER
,RAGE 19 of 20
TOTAL P.01
:::""'""' ,v"'
;::
.1.1:.1tl 1"AA. tl.1<: JJ( :>~HS
CKUl'IlJ'< CUJ\1i' Al'II Y
l{!JUUl
:'
BID FORM
-'
The City Council
City of CsntelViIIs, Minnesota
August 9, 2006
,./
./
RE:
DATED:
$ 2,700,000 General Obligation Improvement Bonds, Series 2006A
September 1, 2006
./
-'
For all or none of the above Bonds~accordance with the Official Terms of Offering, we will pay you
$ 2..l ron< z. 'fl.o" <.{, , (not less than $ 2.647.500) plus accrued interest on the total principal of $2,700,000 to
the date of delivery for fully registered Bonds, provided th(ilt the Bonds bear the following interest rates:
./
.-'
Year Amount Rate Year Arnount Rate Year Amount Rate
2009 $ 135,000 Y-l'10 % 2014 $ 175,000 <(, uo % 2019 $ 220,000 <1- 2"'- %
2010 $145,000 Y...c.U % 2015 $ 185,000 :;~(/() % 2020 . $ 235,000 V ~:>\...... %
2011 $ 150,000 \?_OlJ % 2016 $ , 95,000 -f() % 2021 $ 250,000 V-V%~~
2012 $ 160,000 I{,oo % 2017 $ 205,000 V-I() % 2022 $ 260,000 % e~
2013 $.170,000 r- C;() % 2018 $ 215,000 \/.-,/\- %
The Bonds malure on March 1 In each of the years as indicated above and interest is payable March 1 and September 1 in each year,
commencing March 1.2007.
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Acccrding to our com[lutations (the correct computation being controlllng in the award) the tolal net int!3r;est cost of the above bid is $
( ( (V 8 I (1 (p (0 ,. 0 r and the average net effective interest rate is Y - 3 'I ~"2, %.
We enclose our good faith deposit or guarantee by Financial Surety Bond in the amount $ 52.500.00, to be held by you pending
delivery and payment. If our bid Is not accepted, said deposit shall be promptly returned to us. This bid is for prompt acceptance and is
conditional upon delivery of said Bonds to us or to a named registrar within 40 days from date hereof, or thereafter at our option.
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I
.......
In conjunction with making this offer, we have received and reviewed the Official Statement, accept its terms and conditions, and have
submitted our requests for additional Information or corrections to the Official Statement As Syndicate Manager, we agree to provide
the issuer with the reoffering price ofthe Bonds within 24 houl'3 of the bid acceptance.
()y-o-n I ~ Y 4/
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(;;7/J.-'j~"/ j<? Icf
By:
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Account Manager:
J.
Telephone No.
,
Fax No.
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The foregoing offer is hereby accepted by and on behalf of the City Council of the City of CentelVille, Minnesota the
day of August 2006.
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By
Mayor
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Attest:
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Teresa Bender
City Clerk 1-651-429-3232 Phone Number 1'{)51-429-8629 Fax
Good faith deposit received (for return to bidder)
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CITY OF CENTERVILLE
JOHN W. MEYER
PAGE 19 of20
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BID FORM
11:04
PIPER JAFFRAY
9133453294
P.01/01
The Cily Council
CIty of Centerville, Minnesota
August 9,2006
RE:
DATED:
$ 2.700,000 General Obligation Improvement Bonds. Series 2006A
September 1, 2006
For all or none of the above ~dS, In accordancs with toe Official Terms of OfferIng, we will pay you
$ ~. (0 Co U, I '7 7.2.. q , (not less than $ 2.647.500) piuS accrued interest on the total principal of $2.'00.000 to
the date of delivery for fully registered Bonds. provided that the Bonds bear the following interest rales:
Year Amount Rate Year Amounl Rate Year Amount Rate
2009 $ 135,000 1~ % 2014 $ 175,000 0/-. 00 % 2019 $ 220,000 ~, ~S--%
2010 $ 145,000 . % 2015 $185,000 .J.- % 2020 $ 235,000 ..J- %
2011 $ 150,000 3-~ % 2016 $ 195.000 'flq % 2021 $ 250.000 4.jF %
2012 $ 160,000 3, t'7.~ % 2017 $ 205.000 t././r % 2022 $ 260,000 - %
2013 $ 170.000 ,-~.qQ % 2018 $ 215.000 .,J.. %
The Bonds mature on March 1 in each of lhe years as indicated above and interest is payable March 1 and September 1 in each year.
commencing March 1,2007.
According to our computations (the correct computation being controlling in the award) the total net interest cost of the above bid is $
I , J .3 (o.-s .3 q. s- r' and the average net effective interesl rale is !d., Qt '3 "99.2. %.
We enclose OUr good faith deposit or guarantee by Financial Surety Bond in the amount $ 52.500.00, to be held by you pending
delivery and payment. If our bid is not accepted. said deposit shall be promptly returned to us. This bid Is for prompt acceptance and is
conditional upon delivery of said Bonds to us Or to a named registrar wIthin 40 days from date hereof. or thereafter at our option.
Account Manager:
In conjunction with making this offer, we have received and reviewed the Official Statement, accept its terms and conditions, and have
submitted our requests for additional information or corrections to the Official Statement. As Syndicate Manager. we agree to provide
the issuer with the reoffering price of the BoncJs within 24 hours of the bid acceptance.
~~
. JOyce E. C~Q."~
q's,3~5. 3~~7~
~j~ ~ 31.{ 5- .3 39'1
. '
By:
Telephone No.
Fax No.
The foregoing offer is hereby accepted by and on behalf of the City Council of the City of Centerville, Minnesota lhe
day of August 2006.
By
Mayor
Attest:
Teresa Bender
Cily Clerk 1-651-429-3232 Phone Number 1-651-429-8629 Fax
Good faith deposit received (for return to bidder)
"
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"
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. ~ I
CITY OF CENTERVILLE
JOHN W. MEYER
PAGE 19 of20
.'],
TOTAL P.01
:~
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:::
RUG-09-2006 08:49
UBB SECURITIES
952 886 9533
P.01/01
BID FORM
The City Council
City of Centerville, Minnesota
August 9, 2006
RE:
DATED:
$ 2,700,000 General Obligation Improvement Bonds, Series 2006A
September 1, 2006
For all or none of the above Bonds, in accordance with the Official Terms of Offering, we will pay you
$ 2., '=:. (7 } 05 0 ~ Cill , (not less than $ 2,647,50Q) plus accrued interest on the total principal of $2,700,000 to
the date of delivery for fully registered Bonds, provided thClt the Bonds bear the following interest rates:
Year Amount Rate Year Amount Rate Year Amount Rate
2009 $ 135,000 3.1('% 2014 $ 175,000 3"Q)" % 2019 $ 220,000 </~ "Z.o %
2010 $ 145.000 ~r~iJ % 2015 $ 185,000 V _00 % 2020 $ 235,000 C{ - zS' %
2011 $ 1 50,000 ~3~ ~ % 2016 $ 195,000 V,.O,% 2021 $ 250.000 ~~.."o %
2012 $ 160,000 g,. 87,>-O;Q 2017 $ 205,000 Y_(d% 2022 $ 260,000 ,. 2,$""%
2013 $ 170,000 '3.1 9(/ % 2018 $ 215,000 <{-.IS%
The Bonds mature on March 1 in each of the years as indicated above and interest is paya?le March 1 and September 1 in each year,
commencing March 1, 2007.
Accor Ing to our computations e correct computation being controlling in the award) the total net interest cost of the above bid is $
\ 2..<J 2. l <0 ~ z... and the average net effective interest rate is Y _ '2.3 k,0 1- %.
We enclose our good faith deposit or guarantee by Financial Surety Bond in the amount $ 52.50Q.oJl, to be held by you pending
delivery and payment. If our bid is not accepted, said deposit shall be promptly returned to us. This bid is for prompt acceptance and is
conditional upon delivery of said Bonds to us or to a named registrar within 40 days from date hereof. or thereafter ;:It our option.
In conjunction with making this offer, we have received and reviewed the Official Statement, accept its terms and conditions, and have
submitted our requests for additional information or corrections to the Official Statement. As Syndic;:Ite Manager. we agree to provide
::~;~~~:;: reofferln. price ~~rd ~:tnce
By: ~~~ (6-: (~ S.A(:J6e/~ ')
Telephone No. o/~ p ~BfJS:: 9'.y~ 7
Fax No. <j!:;"2-~b- 7S:s3
The foregoing offer is hereby accepted by and on behalf of the City Council of the City of Centerville, Minnesota the
day of August 2006.
By
MClyor
Attest:
Teresa Bender
City Clerk 1-651-429-3232 Phone Number 1-651-429-8629 Fax
Good faith deposit received (for return to bidder)
CITY OF CENTERVILLE
JOHN W, MEYER
PAGE 19 of 20
TnTCiI P c:l1
{:Ud b~Q J
BID FORM
The City Council
City of Centerville, Minnesota
August 9,2006
RE:
DATED:
$ 2,700,000 General Obligation Improvement Bonds, Series 2006A
September 1, 2006
For all or none of the above Bonds, in accordance with the Official Terms of Offering, we will pay you
$ , (not less than $ 2,647,500) plus accrued interest on the total principal of $2,700,000 to
the date of delivery for fully registered Bonds, provided that the Bonds bear the following interest rates:
Year Amount Rate Year Amount Rate Year Amount Rate
2009 $ 135,000 % 2014 $ 175,000 % 2019 $ 220,000 %
2010 $ 145,000 % 2015 $ 185,000 % 2020 $ 235,000 %
2011 $ 150,000 % 2016 $ 195,000 % 2021 $ 250,000 %
2012 $ 160,000 % 2017 $ 205,000 % 2022 $ 260,000 %
2013 $170,000 % 2018 $ 215,000 %
The Bonds mature on March 1 in each of the years as indicated above and interest is payable March 1 and September 1 in each year,
commencing March 1, 2007.
According to our computations (the correct computation being controlling in the award) the total net interest cost of the above bid is $
and the average net effective interest rate is %.
We enclose our good faith deposit or guarantee by Financial Surety Bond in the amount $ 52,500.00, to be held by you pending
delivery and payment. If our bid is not accepted, said deposit shall be promptly returned to us. This bid is for prompt acceptance and is
conditional upon delivery of said Bonds to us or to a named registrar within 40 days from date hereof, or thereafter at our option.
In conjunction with making this offer, we have received and reviewed the Official Statement, accept its terms and conditions, and have
submitted our requests for additional information or corrections to the Official Statement. As Syndicate Manager, we agree to provide
the issuer with the reoffering price of the Bonds within 24 hours of the bid acceptance.
By:
UMR Rnnk,n.i'l
Kristin Koziol
Account Manager:
Fax No.
(816)860-7223
(816)843-4325
~1\~c?
Telephone No.
The foregoing offer is hereby accepted by and on behalf of the City Council of the City of Centerville, Minnesota the
day of August 2006.
By
Mayor
Attest:
Teresa Bender
City Clerk 1-651-429-3232 Phone Number 1-651-429-8629 Fax
Good faith deposit received (for return to bidder)
CITY OF CENTERVILLE
JOHN W. MEYER
PAGE 19 of 20