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CASE PROVIDE FOR THE ISSUANCE AND SALE OF $2,600,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1995A By: Jessie Hart, Finance Officer Background: During the past year the City has been actively involved in the establishment of long term development plans as they relate to the development and improvement of the commercial and industrial areas of the City. The following is a list of projects and activities that we have been working on and have been discussed as candidates for a bond sale: Business Assistance Programs: Parabody CAPCO Listul Industries Anoka-Ramsey Sports Center Ramsey Athletic Club AEC Facilities Sunfish Square Derail Tool Wendell's Three Pending Development Agreements Development of the Industrial Area [land acquisitions and utility extensions] Spohn Property Eggum Property Groves Property Airport Property Ramsey Business Park - Phases II and III Public Improvements: Sunwood Drive AEC Utility Extension Highway 10 Redevelopment General Water and Sewer Improvements [wells, water towers, lift stations] McKinley Street Uranium Street During this process, the City has acquired significant amounts of property, utilizing tax increments, and has also anticipated that at a point in time it would be necessary to sell a tax increment supported bond. At this time it is advisable that we proceed with a non4axable issue in the amount of $2,600,000 to cover the City's anticipated costs on the following projects: Public Improvements [street, watermains, sanitary sewer, storm sewer]: AEC Utility Extension* Uranium Street McKinley Street Sunwood Drive* * Bondproceeds represent only a portion of anticipated revenues. [see attached schedule of project costs]