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M&rr<t[. J IXvTrr JOax e. VAX D[ NOerx. JR. LAW OFFICES <br />RIcYAxD G. MARi <br />RonEHT E. WOODS MICRAEL J. Gtatrtn <br />WILLIAM J. JoAN23 DL>,RIAx M. IMMIX ii, `A,Yi F. <br />1'OLA ORR&AR <br />liOii[ttT M- I»s+ctr ANDREM C. Su.Dnr <br />B I'i I G G S AND M O R G A N <br />MAROARES K. SAVAOE CHRLsroPEEa C, Cimr[IA,tw <br />JOHN K. ftuxonoE NANcr D. AIDrIsoY ' <br />- „O.aw G SxA M ANDREM C. BicRE■ <br />lien L SwAxsax •IEPPREr J. Krras <br />BRux G. B== MICHAEL J. McFiu <br />�( (;ALrrIr.JR- JAPES E.NaLsox PROFESSIONAL ASSOCIATION <br />ToNY SrEMBEItOsa L►unENA.FiTHIuP <br />DAVID C. FOOsaitt0 JERoYE A.GEts <br />STEVE A. BRaND <br />MART E. SCHAFFNER PAUL S.JACOBSaN; <br />MICHAEL H. STHEATER COLLEEN V. SRORr <br />'- 4cNCIL V. SEYMOUR. JR. JOEL R. GOTTESMAN <br />lrin F. ROTMAx Ksatx L. Wtlta 2200 FIRST NATIONAL BANK BUILDINd <br />JOHN H. LINDSTROM DIANA J. VANCE-BRYAY <br />RlcnsttD D. ANDEasox NESL T. HDarsa ;• 3Y <br />N. DOYLE Matt H. MAcLrN <br />SALLY A. SCOOOIN SDSAN B. THOMAS } <br />[T�z�arxc[ <br />MeluiD It KYLE JEFrRET F. SHAM <br />Jony L UEVNEY MATTnEw L. LEvrrr SAINT PAIIL, MINNESOTA 86101 <br />DAVID C. MCDoNALD TIMOTHY J. KaEX&N <br />BRUCE W. MOOTY Ronatrr L. STEERP <br />Ha%ALD L SORExsox DAVID G. GHEENINO <br />ANDREW R. KINTZIxoER MIOHAEL THOMAS'Mrs .atl '•�4 I <br />Pme N. SEeD DAVID B. SAND <br />FREDERleK P. ANwT CARLOS R. CARISisCULLLO f, <br />%AmuxL L HANSON JosEPH P. Noecx TELEPHONE (612) 291-1215 <br />ROXALD E.OECRARD CHARLES R. HAYNOa <br />ROBERT L. LEE KHISTIN S. MInaT". <br />ANN HUNTRODS ELENA L. OsTaY <br />JOItx TROYER ANDREA M. BOND <br />GnEGonY J. STENMOE KEVIN J. HINIEER� <br />Sr[rnzx N'rxxtci TIMOTHY P. FLAHERTY TELECOPIER (612) 222-4071 <br />CHARLES B.RoosRs ROrH'J. KzLNAN <br />.%Ynox L t:Oaootr MARTIN H.FIsx <br />TERRY L.SLYE VItCENT A. Teo, <br />' <br />Jaux R. KEx[nc[ : ROSE= J. PRATTE <br />MAUREEN E. WARDEN MARK J. FRENZ <br />- TnoxAi A. LARSON JOHN BULTENA <br />- <br />MAIN M. DYRSETH NANCY J. WoLr <br />- J" <br />- "DAVID J. SPENCER JAMES G. RAT <br />PATRICE M. GASSY DENNIS L HALL <br />DANIEL J. COLE. JR- RICIIARD H. MARTIN INCLUDING THE FORMER FIRM OF <br />Ibcous L S[oR' " TRUDY J, HAIT <br />TIMOTHY E.MAHx AlrnnEA H.MAcHMZIER <br />CHERYL A. THOMAS PATRICX T. SEELLY <br />MICItAEL If.JERoxtYOS MAaY L.IrPEL LEVITT, PALMER, BOWEN, ROTMAN & SHARE <br /><.'�-. •- R.Scan DAVIEs JAHEs A. Voss _ <br />KEVDI A. BEEO DIAxa B. LIrrLE " <br />MARK SCHROEDEa <br />4 PATR1ci McDAvrrr RODYN L. HANSEN <br />M. Ba10ID MCDONOUGH OF COUNSEL <br />J.Nate ME RTON <br />August 2, 1988 <br />RICIIAan E. KrLa <br />- <br />JOHN M. PALMER <br />SAMdEL H 'Mottowx <br />FsANx N. GRAHAM% <br />A. LAUHENCE DAMS <br />CIA2ENcs G. FRALjjR <br />- - FRANK HAMMOND <br />LEoxeall J;'KEtzs t; <br />. - <br />JOHN M.SIILLIVAN . <br />Mr. Craig Waldron <br />City of Roseville <br />2660 Civic Center Drive <br />Roseville, Minnesota 55113 <br />Re: Tax Increment Bonds and Election <br />Dear Craig: <br />The City of Roseville is considering issuing tax <br />increment <br />bonds for which it plans to levy a general tax in a <br />significant, <br />amount, such as for 40% of the debt service on the <br />bonds. Since <br />generally the City has issued tax increment bonds which <br />are intended <br />to be self-sustaining with increments, you ask whether <br />an election <br />is necessary for the bonds because of the large planned <br />payment <br />from general taxes. <br />An election is only necessary if less than 20% <br />of the cost <br />of the improvement is estimated to be received from <br />tax increments, <br />specifically taxes levied upon the increased value <br />of property <br />within the tax increment district in which the improvement <br />is <br />made. Alternatively, the 20% can be met by a combination of tax <br />increments and special assessments. This is set forth <br />specifically <br />in Minnesota Statutes, Section 475.58, Subd. 1(3), <br />and confirmed <br />somewhat obliquely in Section 469.178, Subd. 2. <br />Years ago we were reluctant to allow a planned <br />tax component <br />in a tax increment issue because of concerns about <br />the pledge <br />Of the municipality's credit for the benefit of the <br />private party. <br />But Minnesota cases over the last few years have removed this <br />concern. <br />"..x1A i1tALC <br />- GI200 FIRST NATIONAL DANK DUILDINO <br />,u*,•r r.� t altixr.++ITA Mot <br />2400 IDS CENTER <br />tiAINT PA IIL, MINNESOTA 611101 <br />rut Iel� <br />M1WNEAPOLIS1 MINNESOTA 55402 <br />M12) L'01.121t5 <br />(012) 330-0961 - <br />