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include this as a special levy, and remove it from the 2000 levy, but they could <br />not have added it after September 15, 1999. <br /> <br />VVhat is the estimated cost of the fire station? <br /> <br />The City's design engineer, SRF, estimates the cost of construction, including <br />the land purchase, to be $1,445,000. The City's finance consultant, Sharon <br />Klumpp of Springsted, estimates the other associated costs to be $147, 947 for <br />the debt service fund, $45,325 for the issuance cost, and $26,728 in <br />underwriter fees. The total estimated cost is $1,665,000. <br /> <br />How was the fire station site selected? <br /> <br />The City Council, City Administrator and Fire Chief determined there was a <br />need for a new station, considered several sites in the vicinity of Central Park. <br />Following the identification of obstacles at some of the locations, the City <br />Council expressed a desire to determine the level of fire protection a facility <br />located at the potential sites would provide to projected growth areas of the <br />City as well as to existing homes. To gather better information on which to <br />base their deciSion, a study was conducted by Hoisington Koegter Group that <br />used computer modeling to determine the best locations. A copy of that study <br />is enclosed in your agenda packet. <br /> <br />How are capital equipment items normalty financed? <br /> <br />Capital equipment is normally financed through the General Fund which is <br />partially funded by the General Fund levy, and the Equipment Replacement "-. <br />Fund. <br /> <br />The Equipment Replacement Fund is a fund where depreciation of the capital <br />equipment items is kept. For example: The depreciation expense for each <br />year, for each department, is transferred from the General Fund to the <br />Equipment Replacement Fund. When the City is purchasing a like item, <br />example a squad car for a squad car, the accumulated depreciation that has <br />been placed in the Equipment Replacement Fund is transferred back to the <br />General Fund to offset the cost of a new squad car. <br /> <br />If a capital item is not a replacement, it is funded solely through the General <br />Fund, which in turn is financed by the General Fund levy, <br /> <br />· Page 3 <br /> <br /> <br />