City Council Meeting Date: June 19, 2018
To: Mayor and City Council
City Administrator
From: Ben Martig, City Administrator
David E. Bennett, Public Works Director/City Engineer
Title
Consider Resolution of the City of Northfield Relating to the Imposition of a Sales and Use Tax and the Issuance of Bonds for Purposes of a Civic Center and Certain Parks, and Trails, and Recreational Facilities and Calling a Special Election Thereon
Body
Action Requested:
The Northfield City Council approves a Resolution of the City of Northfield Relating to the Imposition of a Sales and Use Tax and the Issuance of Bonds for Purposes of a Civic Center and Certain Parks, and Trails, and Recreational Facilities and Calling a Special Election Thereon.
Summary Report:
Staff is working on a summary PowerPoint presentation to share at the meeting. City Administrator Martig and Director of Public Works/City Engineer Bennett will be presenting. The following memo provides some prior information as well as updates from the June 12, 2018 Council Work Session.
Legal counsel has updated the resolution recommended for consideration following staff input to them from their last meeting. The resolution has been updated in item #11 of the "Now Therefore Be It Resolved" section that the Northfield referendum approval also requires approval in Dundas to move forward.
Staff has requested an updated financial summary from Ehlers that would include overall "source and use" page for the civic center along with a debt service repayment schedule by source of funds. This will include information on the total estimated cost of bond issuance and interest as well. We anticipate providing this information in a supplemental memorandum.
Staff did find statutory reference from a question last meeting to the terms "acquisition" and "betterment" that is included in the resolution as follows:
Minnesota Statutes 475.51 Definitions Subd.7 and 8
Subd. 7.Acquisition.
"Acquisition" include...
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