Agenda - Council - 06/08/1999 - Laserfiche WebLink

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Financing for facilities constructed pursuant to the Statute can be made by the City: Issuing and selling ge~leral obligation bonds payable either from laxes or special assessments pursuant [o a, M.S. 429 project; or ii. From net revenues derived from storm sewer service charges; From other non-tax revenues pledged for payment per other statutory authority; or iV. From issuance of special obligations payable solely from taxes or special assessments or from revenues; or v. From two or more of the above sources. The Statute has further detail on financing which needs be followed ai~ a financing source is determined. The ordinance will provide these requirements. Pa~ent for the construction and maintenance of the facilities can be done by USE, AVP, II.~BILITY and/or CONNECTION charges. Charges established must, of course, be '[just and equitable". Thc Statute contains detailed provisions on the manner in which such charges may be collected. Upon detenuination of the City's payment option, I will include these requirements in the ordinance. An additional source of revenue payment may be by the use o£special assessments purs~nt to M.S.429. This would be a levy against property benefited by the facilities. The us:,al difillc'dty with proving "benefit" would, of course, be presen~ should this source of revenue be selected. I I I I I I I I ! I I I I I I I I I I