Agenda - Council - 01/12/1999 - Laserfiche WebLink

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! ! I I I I ,I i I I I I I I I I I I I DRAFT Columbia Heights 10.1% Coon Rapids 26.1% Fridley 14.1% Lino Lakes 3.7 % Ramsey 5.2 % St. Francis and Bethel (jointly) 2.4 % Spring Lake Park 3.8 % Anoka County Contract No. These percentages reflect the number of that City's calls for service made to Anoka County Central Communications in 1997, divided by the total number of calls for service, excluding the Sheriff's Dept. calls. In order to finance the initial acquisition and installation costs of the System (including Shared Capital Costs and City Equipment Costs and allocable legal, financing and underwriting costs) that in the aggregate cost approximately $1,168,457 (the "Total Capital Costs"), the County will issue General Obligation Capital Notes (the "Notes") in an amount sufficient to finance the System. Disbursement and accounting of the proceeds of the Notes shall be governed by the County's resolution authorizing the issuance of the Notes. In order to provide for the financing of the Capital Costs, each City (either individually or jointly as noted above) shall pay to the County:i'that City's annual debt service payment on each date that is fifteen.days p~or to the dates that debt servic ~ej~_due on the Notes. Debt service payments with respect to the System will be allocated to each City based on the cost of that City's Equipment purchased through the County, plus that City's percentage share of the Shared Capital Cost plus that City's share of the interest and fiscal agent's fees on the Notes. Pursuant to this Agreement, County will pay the first $400,000 of the total debt service on the Notes. All remaining debt service will be the obligation of the Cities.