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2 May, 2012 Date of sale for $, 10 million <br />34 December,, 2012 Authorize the sale of $,7 million in bonds for parks <br />35 January, 2013 Date of sale for $,7 million <br />37 Based on this timeline,, all $,27 million of the proposed financing package will be completed or in process by <br />38 the end of 2012, yet the City will still ensure that the bonds will remain 'bank qualified'. <br />39 <br />40 POLICY OBJECTIVE <br />4 i The issuance of bonds to finance the construction of a new fire station and park improvements is consistent <br />42 with the goals established by Imagine Roseville 2025, and prior Council directives. <br />43 FINANCIAL IMPACTS <br />44 An $,8 million bond for the Fire Station is expected to have an annual impact of approximately $,36, or $,3 <br />45 per month for a typical home. The annual debt service would be approximately $,735,000. <br />46 <br />47 A $,19 million (overall) bond for Park Improvements is expected to have an annual impact of approximately <br />4, $,70,, or $,6 per month for a typical home. The annual debt service would be approximately $,1,430,000. <br />49 STAFF RECOMMENDATION <br />5o Staff recommends the Council approve the attached resolution amending the City's Redevelopment Plan <br />'i and Industrial Development District 4 1 Plan in, conjunction with the sale of bonds to finance the <br />52 construction of a new fire station and park improvements. <br />53 REQUESTED COUNCIL ACTION <br />54 Approve the attached resolution amending the City's Redevelopment Plan and Industrial Development <br />55 District 4 1 Plan in,, conjunction with the sale of bonds to finance the construction of a new fire station and <br />56 park improvements. <br />58 <br />Prepared by: Chris Miller., Finance Director <br />Attachments: A: Resolution to amend the City's Redevelopment Plan and Industrial Development District #1 Plan, in <br />coqjunction with the sale of bonds finance the construction of a new fire station and park improvements. <br />B: Amended Redevelopment Plan and Industrial Development District #1 Plan <br />E <br />Page 2 of 5 <br />