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City Council Regular Meeting - 06/12/06 Minutes - Page 10 Roll Call Ayes: Kough; Pust; Maschka and Klausing. Nays: Ihlan. 6. Presentation about the City's Bond Rating and Reserve Finance Director Chris Miller introduced Springsted Senior Vice President Teri Heaton. Ms. Heaton congratulated the City Council for their pro-active approach to performing an assessment of their credit rating profile and criteria; and analysis of the City's Cash Reserve levels. Ms. Heaton provided several Bench Handouts entitled, "Credit Rating Profile, City of Roseville, MN, June 12, 2006;" and "presentation to the City of Rose vi lie, MN, June 12,2006." Ms. Heaton provided a detailed analysis of the City's strengths, comparisons to six peer cities; the City's strengths and areas needing improvement; and suggested actions that may improve the City's overall credit rating profile, based on an analysis of the 2004 fiscal year. Ms. Heaton's presentation included population growth and demographics; property value information; tax capacity rates; outstanding debt; conclusions relative to comparison group information; and financial statement infonnation showing a five- year trend analysis in the General, Recreation, Community Development, Enterprise and Special Revenue Funds. Ms. Heaton reviewed fund balance guidelines, from the Office of the State Auditor, Government Finance Officer's Association (GROA) Best Practices; Credit Rating Agencies; International City/County Management Association (ICMA) and other cities used in the comparison. In addition to the presentation, discussion included market value per capita as a measurement; cycles due to infrastructure costs prior to redevelopment activities; General Obligation debt in general; the favorable record established by the City in Presentation about the City's Bond Rating and Reserve