Laserfiche WebLink
APPENDIX A <br />PROJECT COSTS <br />(Capital Expenditures to be funded with Bond Proceeds) <br />The 2007 capital expenditure of approximately $1,129,463 for the Joint <br />Use City Hall Building is to be funded with bond proceeds and $376,488 in <br />White Bear Township funds. This Building will be constructed for use as <br />an interim town hall during renovation, as a site of voting in all elections, <br />and as space for a county sheriff substation. <br />These expenditures are anticipated due to: <br />• Rapid population growth. <br />• Increased demand for services. <br />• Escalating property values. <br />• Increased awareness of needs by the public. <br />City of Gem Lake, Minnesota <br />$785,000 General Obligation Capital Improvement Plan Bonds, Series 2007 <br />(Joint Use City Hall Project) <br />-Full Competitive Sale/20 Year Level @ $45K/Year Balloon - <br />Sources & Uses <br />Dated 05101/20071 Delivered 05/01/2007 <br />Sources Of Funds <br />Par Amount of Bonds <br />$785,000.00 <br />Additional source offunds (WBT@1/3) <br />376,488.00 <br />Total Sources <br />$1,161,488.00 <br />Uses Of Funds <br />Total Underwriter's Discount (1.500%) <br />11,775.00 <br />Costs of Issuance <br />19,985.00 <br />Deposit to Project Construction Fund <br />1,129,463.00 <br />Rounding Amount <br />265.00 <br />Total Uses $1,161,488.00 <br />Ehlers & Associates, Inc. Page 11 <br />