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City CouncilRegular Meeting— 06/12/06 <br />DRAFT Minutes - Page 10 <br />Total $19,615.34 <br />Roll Call <br />Ayes: Kough; Pust; Maschka and Klausing. <br />Nays: Ihlan. <br />6. Presentation about the City's Bond Rating and �ieserve Presentation about <br />Finance Director Chris Miller introduced Springsted Senior Vice the City's Bond <br />President Teri I3eaton. Rating and Resex-ve <br />Ms. Heaton congratulated the City Council for their pro-active <br />approach to performing an assessment of their credit rating <br />profile and criteria; and analysis of the City's Cash Reserve <br />levels. <br />Ms. �eaton provided several Bench Handouts entitled, "Credit <br />Rating Profile, City of Roseville, MN, June 12, 2006;" and <br />"presentation to the City of Roseville, MN, June 12, 2006." <br />Ms. Hea�on provided a detailed analysis of the City's strengths, <br />comparisons to six peer cities; the City's strengths and areas <br />needing improvement; and suggested actions that may improve <br />the City's overall credit rating profile, based on an analysis of the <br />2004 fiscal year. <br />Ms. �eaton's presentation included population growth and <br />demographics; property value information; tax capacity rates; <br />outstanding debt; conclusions relative to comparison group <br />information; and financial statement information showing a�ive- <br />year trend analysis in the General, Recreation, Community <br />Development, Enterprise and Special Revenue Funds. <br />Ms. T�eaton reviewed fund balance guidelines, from the Office of <br />the State Auditor, Government Finance Officer's Association <br />(GROA) Best Practices; Credit Rating Agencies; International <br />CitylCouniy Management Association (ICMA) and other cities <br />used in the comparison. <br />In addition to the presentation, discussion included market value <br />per capita as a measurement; cycles due to infrastructure costs <br />prior to redevelopment activities; General Obligation debt in <br />