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10/19/2020 - City Council - Regular - AgendasSPRING PARK On Lake 911innetonka CITY OF SPRING PARK CITY COUNCIL AGENDA OCTOBER 19, 2020 — 7:00 PM SPRING PARK CITY HALL 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ADOPT MEETING AGENDA 4. ADOPT CONSENT AGENDA* a. Approve Regular City Council Meeting Minutes from October 5, 2020 5. PUBLIC FORUM** 6. PRESENTATIONS & GUEST SPEAKERS 7. PUBLIC HEARINGS 8. PETITIONS, REQUESTS, & APPLICATION 9. ORDINANCES & RESOLUTIONS a. Resolution 20-24: Providing for the Sale of $1,570,000 General Obligation Utility Revenue and Refunding Bonds 10. REPORTS OF OFFICERS AND COMMITTEE a. Mayor & Council b. City Staff c. Contract Staff 11. NEW BUSINESS & COMMUNICATIONS 12. CLAIMS FOR PAYMENT a. October 19, 2020 Claims 13. UPCOMING MEETINGS & TRAINING a. October 28 — LMCD Work Session at 6:00 PM with Regular Meeting at 7:00 PM (Cancelled) c. November 11 — LMCD Work Session at 6:00 PM with Regular Meeting at 7:00 PM d. November 11 — Planning Commission Meeting — 6:00 PM e. November 13 — Special Council Meeting (Canvass Election Results) — 2:00 PM f. November 16 — Regular City Council Meeting — 7:00 PM 14. MISCELLANEOUS (,INFORMATION ONL)) a. PeopleService August Report b. Mound Fire Department COVID-19 Report 15. ADJOURNMENT * The Consent Agenda lists those items of business which are considered to be routine, recommended for approval, and/or which need no discussion. 'he several separate items listed on the Consent Agenda are acted upon by one motion. There will be no separate discussion of these items unless a —ouncil Member makes a request, in which event the item will be removed from the Consent Agenda and placed elsewhere on the regular agenda for Council discussion and action. ** Under Public Forum individuals may address the City Council about any item not contained on the regular agenda. Each speaker should keep their statements to three minutes to allow sufficient time for others. The Council will take no official action on items discussed at the forum, with the exception of referral to staff for future report. SPRING PARK onLake a+mkw„k CITY OF SPRING PARK CITY COUNCIL MINUTES OCTOBER 5, 2020 - 7:00 PM SPRING PARK CITY HALL 1. CALL TO ORDER - The meeting was called to order by Mayor Rockvam at 7:00 p.m. Council Members Jerome P. Rockvam, Mayor; Mark Chase; Jeff Hoffman; Pamela Horton; Present: and Gary Hughes Staff Present: Dan Tolsma, City Administrator 2. PLEDGE OF ALLEGIANCE 3. ADOPT MEETING AGENDA Hughes said item #13 e and f under upcoming meetings and training the dates are incorrect. It's actually the 19th of October, not the 21 st. M/Hughes, S/Horton to adopt th renda. Motion carried 5-0. 4. ADOPT CONSENT AGENDA a. Cancel November 2nd Regular City Council Meeting b. Schedule Special City Council Meeting for Friday, November 13th at 2:00 pm to Canvass Election Results c. Resolution 20-23: Appointing Additional Election Judges M/Horton, S/Chase to adopt the Consent Agenda. Discussion: Hoffman questions regarding item b. and why the council is tasked with that. Tolsma said it is a requirement to canvas the vote and Hoffman wonders if it is required review. Rockvam thought it is to verify the findings of the election judges. 5. PUBLIC FORUM —None. 6. PRESENTATIONS & GUEST SPEAKERS a. Andrew Myers — MN House District 33B Candidate Andrew Myers has been involved in his community serving on the council and planning commission. He wants to run on rebuilding the community, protecting the tax dollars and insuring safe communities. * The Consent Agenda lists those items of business which are considered to be routine, recommended for approval, and/or which need no discussion. The several separate items listed on the Consent Agenda are acted upon by one motion. There will be no separate discussion of these items unless a until Member makes a request, in which event the item will be removed from the Consent Agenda and placed elsewhere on the regular agenda for ouncil discussion and action. ** Under Public Forum individuals may address the City Council about any item not contained on the regular agenda. Each speaker should keep their statements to three minutes to allow sufficient time for others. The Council will take no official action on items discussed at the forum, with the exception of referral to staff for future report. 7. PUBLIC HEARINGS — None. 8. PETITIONS, REQUESTS, & APPLICATIONS — None. 9. ORDINANCES & RESOLUTIONS — None. 10. REPORTS OF OFFICERS AND COMMITTEES a. Mayor & Council Rockvam wonders how the search for a new City Clerk is going. Tolsma said it should be posted this week on the League of MN Cities website and in The Laker in three weeks. Tolsma recommends the deadline to be the week following the election of November 3rd with interviews conducted towards the end of November. He said former City Clerk Lewin stated she would be willing to work to the end of the year. Rockvam asked about compensation being the same as the former city clerk and Tolsma said essentially yes. Rockvam thinks it's important to look for a replacement who has good people skills along with knowledge of the job. Tolsma said de-escalation is a big part of the job. Chase asked about the League of MN Cities and Tolsma. explained it is the primary source for city employment opportunities and every city in the state belongs to the League. Rockvam asks about the water and sewer project on West Arm West. Tolsma explained today was the first day. He said the watermain on the west side of West Arm Central was dug to put in a valve and temporary water was hooked up to adjacent properties. Rockvam wonders if everyone affected has been made aware. Tolsma said the public meeting was r few weeks ago and in general everyone seemed to have their questions answered. Chase asked the projected end date is and Tolsma said six to eight weeks around mid to late November. Rockvam asked about the proposed increase for current staff, Farniok. Tolsma said he is proposing this because of the extra tasks she will have to take on. Tolma refers to the next work session discussing public works and perhaps part of that conversation can be about potential contracting out utility billing. b. City Staff Temporary City Hall Staffing Plan & Authorization i. Tolsma is looking for a motion for the staffing adjustments. M/Hoffman S/Horton. Motion carried 5-0 c. Contract Staff 11. NEW BUSINESS & COMMUNICATIONS * The Consent Agenda lists those items of business which are considered to be routine, recommended for approval, and/or which need no discussion. The several separate items listed on the Consent Agenda are acted upon by one motion. There will be no separate discussion of these items unless a Council Member makes a request, in which event the item will be removed from the Consent Agenda and placed elsewhere on the regular agenda for Council discussion and action. ** Under Public Forum individuals may address the City Council about any item not contained on the regular agenda. Each speaker should keep their statements to three minutes to allow sufficient time for others. The Council will take no official action on items discussed at the forum, with the exception of referral to staff for future report. 12. CLAIMS FOR PAYMENT a. October 5, 2020 Claims M/Rockvam 2/Horton Motion carried 5-0 13. UPCOMING MEETINGS & TRAINING a. October 8 — Lake Minnetonka Cable Commission — 7:00 PM b. October 13 — Administration Committee —12:00 PM c. October 14 — LMCD Work Session at 6:00 PM with Regular Meeting at 7:00 PM d. October 14 — Planning Commission — 6:00 PM e. October 21 — City Council Work Session Meeting — 5:00 PM (Note Time Change) f. October 21 — City Council Regular Meeting — 7:00 PM (Cancelled) h. November 13 — Special Council Meeting (Canvass Election Results) — 2:00 PM 14. MISCELLANEOUS (INFORMATION ONLY) 15. ADJOURNMENT — 7:22 pm M/Horton S/Hoffman Motion carried 5-0 Dan Tolsma, City Administrator Wendy Lewin, Acting City Clerk * The Consent Agenda lists those items of business which are considered to be routine, recommended for approval, and/or which need no discussion. The several separate items listed on the Consent Agenda are acted upon by one motion. There will be no separate discussion of these items unless a until Member makes a request, in which event the item will be removed from the Consent Agenda and placed elsewhere on the regular agenda for -ouncil discussion and action. ** Under public Forum individuals may address the City Council about any item not contained on the regular agenda. Each speaker should keep their statements to three minutes to allow sufficient time for others. The Council will take no official action on items discussed at the forum, with the exception of referral to staff for future report. !G Resolution No. 20-24 Resolution Providing for the Sale of $1,570,000 General Obligation Utility Revenue and Refunding Bonds, Series 2020A A. WHEREAS, the City Council of the City of Spring Park, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $1,570,000 General Obligation Utility Revenue and Refunding Bonds, Series 2020A (the "Bonds"), to finance sanitary sewer and water main improvements in the City, and to refinance the City's remaining Series 2010A Bonds; and B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Spring Park, Minnesota, as follows: 1. Authorization; Findings. The City Council hereby authorizes Ehlers to assist the City for the sale of the Bonds. 2. Meeting, Proposal Qpening. The City Council shall meet at 7:00 PM on November 16, 2020, for the purpose of considering proposals for and awarding the sale of the Bonds. 3. Official Statement. In connection with said sale, the officers or employees of the City are hereby authorized to cooperate with Ehlers and participate in the preparation of an official statement for the Bonds and to execute and deliver it on behalf of the City upon its completion. Councilmember introduced the resolution and moved its adoption: The motion for the adoption of the foregoing resolution was duly seconded by City Council Member and, after full discussion thereof and upon a vote being taken thereon, the following City Council Members voted in favor thereof: and the following voted against the same: Whereupon said resolution was declared duly passed and adopted. Dated this 19' day of October, 2020. Approved: Jerome P. Rockvam, Mayor Attest: Dan Tolsma, Acting City Clerk City of Spring Park Staff Payroll 10-15-2t Checks 32051-32069 Ch- -k # Employee/Council Name Check Amount Check Date 56, 1Farniok, Sharon L. 5693 ; Schyma, Theresa J. — _ - $1,878.31 $2,203.41 10/15/2020 ' 10/15/2020 Tolsma, Daniel J. _ Sub Total ----.__ $2,780.23 10/15/2020 $6,861.951 - - Chase, Mark Hoffman, Jeff Horton, Pam l Hughes, Gary Rockyam, Jerry _ Sub Total Electronic Misc. Disbursements EFT#30583 PERA Employee/Employer Payroll Payment for 10/15/20 $1,345.31 10/16/2020 EFT#30582 FICA Employee/Employer Payroll Withholdi Taxes for 10/15/20 $2,397.21 10/16/2020 EFT#30580 Se t.20' Sales & Use Taxes on Business 2nd gtr. Utility Billing_ $5.00 10/12/2020 Sub Total $3,747 . .52 -- -- ---- — -- - - ---- Claims Ck#032051 - Ck#032069 - - ITOTALS $117,447.95 10/15/2020 r-- -- -- - - $128,057.42 CITY OF SPRING PARK 10/15/20 *Check Summary Register© October 2020 Name Check Date Check Amt Wo!4'- 10100 Wells Fargo Bank NA Paid Chk# 032051 BIFFS, INC. 10/15/2020 $164.00 Portable Restroom Service at T Paid Chk# 032052 BRAUN INTERTEC CORPORATIO 10/15/2020 $6,685.00 Proposal for a Geotechnical Ev Paid Chk# 032053 CENTERPOINT ENERGY 10/15/2020 $285.44 Gas Usage for WTP - 8/21/20-9/ Paid Chk# 032054 JUBILEE FOODS 10/15/2020 $194.67 Bottled Water (2) and Paper PI Paid Chk# 032055 WENDY L. LEWIN 10/15/2020 $4,954.89 Election Consultant (107.5 hrs Paid Chk# 032056 MEDIACOM, LLC 10/15/2020 $166,42 Internet Services - 10/11/20-1 Paid Chk# 032057 MNSPECT, LLC 10/15/2020 $2,550.67 Sept..20' Plan Check Fee Paid Chk# 032058 MUNICIPAL CODE CORPORATIO 10/15/2020 $500.00 Online Code Hosting Support Fe Paid Chk# 032059 NAVARRE TRUE VALUE HARDW 10/15/2020 $177.69 Supplies for Air Stripper Tool Paid Chk# 032060 NORLINGS LAKE MTKA LANDSC 10/15/2020 $4,395.07 Sept.20' Landscaping Services Paid Chk# 032061 NORTHWEST ASSOC. CONSULT 10/15/2020 $4,833.80 Sept.20' Planning Services - 2 Paid Chk# 032062 OPG-3, INC. 10/15/2020 $38,884.93 Laserfiche Starter Public Port Paid Chk# 032063 CITY OF ORONO 10/15/2020 $37,562.20 Contracted Police Services Paid Chk# 032064 QUALITY FLOW SYSTEMS, INC. 10/15/2020 $8,720.00 Install new VFD's for Well #1 Paid Chk# 032065 REPUBLIC SERVICES, INC 10/15/2020 $1,138.03 Sept.20' Residential Recycling Paid Chk# 032066 SPECIALIZED ENVIROMENTAL T 10/15/2020 $73.25 Sept.20' Spring Park Resident Paid Chk# 032067 US BANK 10/15/2020 $1,577.97 Sept.20' GoToMyPC Fee Paid Chk# 032068 VELOCITY TELEPHONE 10/15/2020 $224.91 Sept.20' Phone & Long Distance Paid Chk# 032069 XCEL ENERGY 10/15/2020 $4,359.01 Electric Usage for Lift#4 - 8/ Total Checks $117,447.95 CITY OF SPRING PARK 10/15/20 5:58 PM Page 1 *Check Detail Register© October 2020 Check Amt Invoice Comment 10100 Wells Fargo Bank NA Paid Chk# 032051 10/15/2020 BIFFS, INC. E 101-45200-384 Refuse/Garbage Disposal $164.00 W783559 Portable Restroom Service at Thor Thompson Park - 9/09/20 - 10/06/20 Total BIFFS, INC. $164.00 Paid Chk# 032052 10/15/2020 BRAUN INTERTEC CORPORATION E 201-43200-526 West Arm Road West 2020 (SUI $6,685.00 B224172 Proposal for a Geotechnical Evaluation for West Arm Road West 2020 Watermain Improvement Project Total BRAUN INTERTEC CORPORATION $6,685.00 Paid Chk# 032053 10/15/2020 CENTERPOINT ENERGY E 602-49450-381 Utilities/Electric/Gas $95.45 E 101-41900-381 Utilities/Electric/Gas $17.06 092920A E 601-49400-381 Utilities/Electric/Gas $172.93 092920E Total CENTERPOINT ENERGY $285.44 Paid Chk# 032054 10/15/2020 JUBILEE FOODS F 101-41500-299 Admin Expenses $181.33 100220A 101-41500-437 Other Miscellaneous $13.34 10.0220E Total JUBILEE FOODS $194.67 Paid Chk# 032055 10/15/2020 LEWIN, WENDY L. E 101-41500-102 Clerk $1,651.63 101520 E 601-49400-102 Clerk $1,651.63 101520 E 602-49450-102 Clerk $1,651.63 101520 Total LEWIN, WENDY L. $4,954.89 Paid Chk# 032056 10/15/2020 MEDIACOM, LLC E 101-42000-324 Internet Service $55.47 100120 E 601-49400-324 Internet Service $55.47 100120 E 602-49450-324 Internet Service $55.48 100120 Total MEDIACOM, LLC $166.42 Paid Chk# 032057 10/15/2020 MNSPECT, LLC E 101-42400-305 Plan Check Fees $512.47 8459A E 101-42400-310 Contracted Services $2,038.20 8459E Total MNSPECT, LLC $2,550.67 Paid Chk# 032058 10/15/2020 MUNICIPAL CODE CORPORATION E 101-41500-119 Ordinance Codification $500.00 00348833 Total MUNICIPAL CODE CORPORATION $500.00 Paid Chk# 032059 10/15/2020 NAVARRE TRUE VALUE HARDWARE E 601-49400-215 Shop Supplies $38.98 326963 E 601-49400-215 Shop Supplies $4.79 326978 101-41900-215 Shop Supplies $114.94 327250 101-41900-215 Shop Supplies $18.98 327252 Gas Usage for City Hall - 8/21/20-9/21/20 Gas Usage for WTP - 8/21/20-9/21/20 Disposable Face Masks (3) boxes Bottled Water (2) and Paper Plates Election Consultant (107.5 hrs.) 10/1/20 - 10/15/20 Election Consultant (107.5 hrs.) 10/1/20 - 10/15/20 Election Consultant (107.5 hrs.) 10/1/20 - 10/15/20 Internet Services - 10/11/20-11/10/20 Internet Services - 10/11/20-11/10/20 Internet Services - 10/11/20-11/10/20 Sept..20' Plan Check Fee Sept.20' Residential/Commercial Inspection & Permit Fees Online Code Hosting Support Fee 10/1/20-9/30/21 Supplies for Air Stripper Tools for WTP Supplies for WTP Supplies for City Hall Maintenance Supplies for City Hall Maintenace CITY OF SPRING PARK 10/15/20 5:58 PM Page 2 *Check Detail Register© October 2020 Check Amt Invoice Comment Total NAVARRE TRUE VALUE HARDWARE $177.69 Paid Chk# 032060 10/15/2020 NORLINGS LAKE MTKA LANDSCP INC E 101-41940-432 Landscaping/Gardens/Maint $4,395.07 37394 Sept.20' Landscaping Services - Job#M475 otal NORLINGS LAKE MTKA LANDSCP INC $4,395.07 Paid Chk# 032061 10/15/2020 NORTHWEST ASSOC CONSULT (NAC) E 101-41910-310 Contracted Services $872.20 24971-1 Sept.20' Planning Services - Short Term Rental Prohibition - 4.90 hrs. G 101-21700 Escrow Account $487.20 24971-2 Sept.20' Planning Services - 20-05 Side Yard Variance at 4000 Sunset Drive - (3.40 hrs.) G 101-21700 Escrow Account $857.40 24971-3 Sept.20' Planning Services - 20.06 Naeagle Rezoning at Lord Fletchers - (7.80 hrs.) G 101-21700 Escrow Account $412.40 24971-4a Sept.20' Planning Services - 20.05 VAR (4.80 hrs.) - 20.06 VAR (.50 hrs.) E 101-41910-310 Contracted Services $1,904.60 24971E Sept.20' Planning Services - General - (10.70 hrs.) E 101-41910-310 Contracted Services $300.00 24972 Sept.20' Planning Services - Meetings (6.30 hrs.) otal NORTHWEST ASSOC CONSULT (NAC) $4,833.80 Paid Chk# 032062 10/15/2020 OPG-3, INC. E 101-41500-330 IT Technology Support $13,220.87 4423 Laserfiche Starter Public Portal & Professional Services E 601-49400-330 IT Technology Support $12,832.03 4423 Laserfiche Starter Public Portal & Professional Services E 602-49450-330 IT Technology Support $12,832.03 4423 Laserfiche Starter Public Portal & Professional Services Total OPG-3, INC. $38,884.93 Paid Chk# 032063 10/15/2020 ORONO CITY OF E 101-42000-310 Contracted Services $37,404.00 Contracted Police Services E 101-42000-310 Contracted Services $158.20 20141687 Contracted Police Services Total ORONO CITY OF $37,562.20 Paid Chk# 032064 10/15/2020 QUALITY FLOW SYSTEMS INC E 601-49400-411 Repairs / Breaks $8,720.00 39839 Install new VFD's for Well #1 & Well #2 Total QUALITY FLOW SYSTEMS INC $8,720.00 Paid Chk# 032065 10/15/2020 REPUBLIC SERVICES, INC. E 101-42900-310 Contracted Services $1,138.03 0894-0052601 Sept.20' Residential Recycling Services - 9/1/20-9/31/20 Total REPUBLIC SERVICES, INC. $1,138.03 Paid Chk# 032066 10/15/2020 SPECIALIZED ENVIRO.TECHNO.INC. E 101-42800-310 Contracted Services $73.25 093020 Sept.20' Spring Park Resident Yard Waste Disposal at Mulch Store Total SPECIALIZED ENVIRO.TECHNO.INC. $73.25 Paid Chk# 032067 10/15/2020 US BANK E 101-41410-437 Other Miscellaneous $7.75 091120 Postage for 2020 Elections E 101-42800-310 Contracted Services $159.00 091620 Purchased Bagster from WM for City Hall Waste E 101-41500-299 Admin Expenses $60.03 092420 Dakota Junction - City Clerk Luncheon E 101-41410-200 Office Supplies $147.00 092520 Purchased (2) metal shelves for 2020 elections E 101-41500-330 IT Technology Support $83.00 1258847553-8 Sept.20' GoToMyPC Fee E 601-49400-400 Repairs/Maint General $1,045.95 332595 Purchased (3) air filters for WTP CITY OF SPRING PARK *Check Detail Register© October 2020 Check Amt Invoice Comment E 101-41500-299 Admin Expenses $75.24 44660442 Sept.20' Zoom Fee Total US BANK $1,577.97 Paid Chk# 032068 10/15/2020 VELOCITY TELEPHONE 10/15/20 5:58 PM Page 3 E 101-42000-321 Telephone and Mtce Agreement $74.97 13608225-n Sept.20' Phone & Long Distance Service - 10/21/20- E 601-49400-321 Telephone and Mtce Agreement $74.97 13608225-n E 602-49450-321 Telephone and Mtce Agreement $74.97 13608225-n Total VELOCITY TELEPHONE $224.91 Paid Chk# 032069 10/15/2020 XCEL ENERGY E 101-43100-381 Utilities/Electric/Gas $60.99 0864724633 E 602-49450-381 Utilities/Electric/Gas E 602-49450-381 Utilities/Electric/Gas E 602-49450-381 Utilities/Electric/Gas E 101-43100-381 Utilities/Electric/Gas 302-49450-381 Utilities/Electric/Gas E 101-43100-381 Utilities/Electric/Gas E 602-49450-381 Utilities/Electric/Gas E 601-49400-381 Utilities/Electric/Gas E 101-43100-381 Utilities/Electric/Gas E 602-49450-381 Utilities/Electric/Gas E 101-43100-381 Utilities/Electric/Gas E 101-43100-381 Utilities/Electric/Gas Fund Summary $173.08 0864724677 $64.76 0864724962 $103.97 0864725195 $149.28 086472521 $21.39 0864725337 $205.10 0864725430 $571.94 0864725818 $2,021.78 0864725822 $41.33 0864726966 $120.42 0864726968 $317.98 0864727584 $506.99 864726959 Total XCEL ENERGY $4,359.01 10100 Wells Fargo Bank NA $117,447.95 10100 Wells Fargo Bank NA 101 GENERAL FUND $68,379.30 201 PUBLIC IMPROV REVOLVING FUND $6,685.00 601 WATER FUND $26,618.53 602 SEWER FUND $15.765.12 $117,447.95 11 /21 /20 Sept.20' Phone & Long Distance Service - 10/21/20- 11/21/20 Sept.20' Phone & Long Distance Service - 10/21/20- 11 /21 /20 Electric Usage for Traffic Signal at 4300 Shoreline Drive - 8/24/20-9/23/20 Electric Usage for Lift#2 - 8/24/20-9/23/20 Electric Usage for Lift#5 - 8/24/20-9/23/20 Electric Usage for Lift#3 - 8/24/20-9/23/20 Electric Usage for Traffic Signal & East Street Lights - 8/24/20-9/23/20 Electric Usage for Lift#4 - 8/24/20-9/23/20 Electric Usage for Central & North Street Lights - 8/24/20- 9/23/20 Electric Usage for Lift#6 Electric Usage for WTP - 8/24/20-9/23/20 Electric Usage for West Street Lights - 8/24/20-9/23/20 Electric Usage for Lift#1 - 8/24/20-9/23/20 Electric Usage for City Hall - 8/24/20-9/23/20 Electric Usage for Co -Owned Street Lights - 8/24/20- 9/22/20 l q&l P�o peServlceINC. Water & Wastewater Professionals Date: October 5, 2020 To: City of Spring Park From: Shawn Wilson, Operator O & M Report: August 2020 Spring Park Operations and Maintenance ➢ Norlings re -did the baseball field and added new material to it. ➢ Assisted Theresa with the election signs, drilling holes to keep the "Vote Here" signs in place. Helped with cleaning up afterwards. ➢ Cleaned and organized around the Water Treatment Plant along with washing the floors. ➢ Call from a resident off West Arm Road that was having sewer issues. We televised and found no issues with our line. She had a blockage in her line, and she got a plumber to clean her line for her. ➢ Installed a new Shoreline Place sign, the other one was faded. ➢ Located services for the West Arm Rd West project. ➢ Air stripper data submitted. ➢ Met with Brian Hare about some storm drain issues off West Arm Rd. ➢ Norlings cleaned out the material in the pit near city hall that was from a water break last year. ➢ KLM Engineering did our water tower inspection, for the most part everything checked out well. They are recommending cleaning out the tower bowl and painting. ➢ Banner ripped off Sunset Drive, Bakkelund came out and put up flags for Labor Day weekend and replaced a ripped banner. ➢ New sign with house numbers put up on West Arm Drive. ➢ A few call outs in August, power outage near Channel Road from a storm and a couple downed limbs that were blocking the road on Dickson Ave and Mapleton Ave. ➢ Other miscellaneous tasks include: Operate our backup well #3, attend meetings, have chemicals delivered and fill as needed, water shut -offs and turn-ons as needed, complete Diuorer I he Ihncer Of People wmvpeopleservice com ?7eq,v I Water & Wastewater Professionals water and sewer locates as needed, completed the monthly fluoride report and sent to the state, took (2) monthly bacteria water samples, conducted field tests on the water weekly, monitored lift stations, completed monthly work orders and maintenance on all equipment, daily rounds/logs at the VVTP, lower flags to half-staff and raise as needed. Total Water Plant Effluent -In Gallons 8100010W - - 7,000,000 6,000,000 5,000,000 — 4,000,000 3,000,000 2,000,000 1,000,0W 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0 2020 W 2019 Ditiuwer the potm,Of Neolde www.peopleservice.com T�o leSer-v 0 INC. Water & Wastewater Professionals 1 111 111 • 111 111 1 1 1 1 11 111111 � I m rm .111111 I1111111111■■■�■ 111111 rim I1111111111■■■■ 111111 I11111111111111■■■■ ,,,,,, IIllllllllllll■■■■ ,,,,,, I11111111111111■■■■ I11111111111111■■_■■ 1 1 1 • Total Precipitation for the Month 7 6 5 4 3 2 1 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■ 2020 ►-A 2019 Uiuoverllie Power OfPmple www.peopleservice.com f eopeServlceINC. Water & Wastewater Professionals Water Units Average Daily Pumped gallons 204,116 304,000 204,390 Maximum Daily Pumped gallons 267,000 218,229 257,000 Total Monthly Pumped gallons 6,327,600 6,765,100 6,336,100 Well #1 Pumped gallons 1,901,700 1,746,400 2,410,600 Well #1 Average Pumped gallons 61,345 56,335 77,761 Well #2 Pumped gallons 3,099,800 2,818,700 3,831,300 Well #2 Average Pumped gallons 99,993 90,925 123,590 Well #3 Pumped gallons 1,261,200 2,118,200 175,000 Well #3 Average Pumped gallons 40,683 68,329 5,645 Fluoride used gallons 13.8 13.5 12.7 Fluoride Average used gallons 0.4 0.4 0.4 Poly Phosphate used pounds 89.2 87.4 134.5 Poly Phosphate Average used ounds 2.9 2.8 4.3 Chlorine used Ibs 135 126 151 Chlorine Average used Ibs 4 4 5 Effluent Flow Maximum Daily Pumped Wastewater gallons 280,000 260,000 307,360 Average Daily Pumped Wastewater gallons 241,290 228,709 261,490 Lift Station Effluent to Met Council gallons 7,480,000 7,090,000 8,106,290 Precipitation inches 5.15 2.73 6.30 Di%(ovel lfie PowcrOf Pcolife www.peopleservice.com COVID-19: Status update for Mound Fire Department WE/ Month of September, 2020 2415 Wilshire BoulevardMound, MN 55364 1W Changes from previous report highlighted in yellow 952-472-3555 5364 I. General Overview and/or Update: • NO change: MFD still in full response mode, serving our communities with no current limitations. All of the 911 emergency and nonemergency calls for service are being responded to in a timely manner. II. Maior Status or Operational Changes: • NO change: effective Friday April 17, 2020 our comprehensive "Exposure Control Plan' was updated with new PPE requirements. August 2020, updated and trained on improved exposure control protocols (PPE). III. Staffing Situation STAFF AVAILABLE QUARANTINED Self or Other Administrative 2 Active Firefighters 38 1 returned after recovering from Covid-19 illness IV. Potential Challenges or Problems: • Staffing shortage due to quarantine or illness: • Personal Protective Equipment (PPE) shortage: • A large number of EMS COVID-19 related calls: NO NO, we have a 90-120 da y supply in stock NO, NOT AT THIS TIME V. Response Plan: Fires or Personal Iniury Accidents • NO change: for "High Risk Emergency Calls" that require large number of firefighters on the scene, there has been no operational or response protocol changes. Response plan is operating normally. VI. Response Plan: Emergency Medical (EMS) • NO change: on Monday July 6th, we reviewed and re-emphasized the importance of PPE and the Metro Region EMS System Patient Care and PPE Guidelines for First Responders. • COVID 19 update: effective April 176, Dr. Sipprell recommends mask, gloves and eye protection for ALL patient encounters. Only make patient contact if absolutely necessary. • Effective June I", all staff must wear a simple mask inside rescue truck when responding to EMS calls. VII. EMS Calls — by Covid Risk from April 1.2020 to September 30 2020 Hennepin County Dispatch is notifying public safety agencies of suspected or confirmed COVID 19 illness when police - fire are dispatched to medical calls. MFD protocol assumes all patients are COVM nncitiva EMS CALLS KNOWN COVED RISK NO I.L.I. Influenza Like Illness UNKNOWN I.L.I. 194 35 58 1 101 VIII. Other All appropriate safety measures and personal protective equipment (PPE) are in place and protocols continue to be followed. In August 2020, we added new PPE for safety (I.e. hoods, gowns, full body suits). We purchased and distributed (2) PPE simple (or surgical) masks for each Mound firefighter. These new masks are to replace the throw away version, and save $$ on throw away masks. The health and wellness of our entire staff, and our ability to respond are critical to sustaining operations. Please contact the Mound Fire Department Administrative Offices at 952.472.3555 if you have any questions or need additional information about this update. SPRING PARK On Lake 94innetonka CITY OF SPRING PARK WORK SESSION AGENDA OCTOBER 19, 2020 — 5:00 PM SPRING PARK CITY HALL (Work Session discussion times are approximate) 1. 5:00 — ZONING CONSIDERATIONS FOR SHORT-TERM RENTAL DISCUSSION WITH CITY PLANNER AL BRMUS 2. 5:30 — BONDING DISCUSSION WITH BRUCE KIMMEL OF EHLERS 3. 5:50 — PUBLIC WORKS CONTRACTING DISCUSSION 4. 6:30 — APARTMENT UTILITY BILLING DISCUSSION 5. 6:40 — FIRE DISTRICT DISCUSSION 6. 6:45 — TREE LIGHTING EVENT DISCUSSION 7. 6:50 - ADJOURN October 19, 2020 Pre -Sale Report for City of Spring Park, Minnesota $1,570,000 General Obligation Utility Revenue and Refunding Bonds, Series 2020A LowiEHLERS ft PUBLIC FINANCE ADVISORS Prepared by: Ehlers 3060 Centre Pointe Drive Roseville, MN 55113 Advisors: Bruce Kimmel, Senior Municipal Advisor Rebecca Kurtz, Senior Municipal Advisor Chris Mickelson, Municipal Advisor BUILDING COMMUNITIES. IT'S WHAT WE DO. BUILDING COMMUNITIES. IT'S WHAT WE DO. info;gehlers-inc corn 1 (800) 552-1171 r www.ehlers-inc.com Proposed Issue: $1,570,000 General Obligation Utility Revenue and Refunding Bonds, Series 2020A Purposes: The proposed issue includes financing to fund the City's 2020 West Arm Road West Sanitary Sewer and Water Main Improvement projects, and to current refund the City's remaining Series 2010A Bonds for future interest cost savings. • Debt service on the Sanitary Sewer and Water Main Improvement portions of the Bonds will be paid from City sewer and water utility revenues, respectively. • Debt service on the Series 2010A Refunding portion of the Bonds will continue to be paid from City utility revenues, special assessments, and property taxes. Interest rates on the Series 2010A Bonds to be refunded are 3.200% to 3.625%, and are estimated to be replaced with interest rates of 0.350% to 0.550%. The refunding is expected to reduce the City's net debt service expense by approximately $20,000 over the next 5 years (estimated net present value savings for the utility revenue and improvement refunding portions, combined), which is equal to roughly 5% of the refunded principal. This refunding is considered to be a current refunding as the Series 2010A Bonds being refunded are callable (pre -payable) now. Authority: The Bonds are being issued pursuant to Minnesota Statutes, Chapters 475, 444, and 429. For the Sanitary Sewer and Water Main Improvement financing, Chapter 444 allows cities to issue general obligation debt without limitation as long as debt service is expected to be paid from water and sewer revenues. For the Refunding, Series 2010A's authorization under Chapters 475, 444, and 429 applies. The Bonds will be general obligations of the City for which its full faith, credit and taxing powers are pledged. Term/Call Feature: The Bonds are being issued for a term of 15 years, 2 months. Principal on the Bonds will be due on February 1 in the years 2022 through 2036. Interest is payable every six months beginning August 1, 2021. The Bonds will be subject to prepayment at the discretion of the City on February 1, 2029 or any date thereafter. Presale Report October 19, 2020 City of Spring Park, Minnesota Page 1 Bank Qualification: Because the City expects to issue no more than $10,000,000 in tax exempt debt during the calendar year, the City will be able to designate the Bonds as "bank qualified" obligations. BQ status broadens the market for the Bonds, which can result in lower interest rates. Rating: The City's most recent bond issues were rated by Standard & Poor's. The current ratings on those bonds are "AA+". The City will request a new rating for the Bonds. Basis for Recommendation: The proposed Bond issue is the most cost-efficient means of funding the City's West Arm Road West utility projects together the Series 2010A Refunding, and is expected to yield the lowest possible interest cost while also preserving future prepayment flexibility. Moreover, the competitive public sale approach described below is consistent with the City's historical debt issuance method, as well as best practices published by the Governmental Finance Officers Association (GFOA). Method of Sale/Placement: We will solicit competitive bids for the purchase of the Bonds from underwriters and banks. We will include an allowance for discount bidding in the terms of the issue. The discount is treated as an interest item and provides the winning underwriter with all or a portion of its compensation in the transaction. If the Bonds are purchased at a price greater than the minimum bid amount, the unused allowance may be used to reduce your borrowing amount. Premium Pricing: In some cases, investors in municipal bonds prefer "premium" pricing structures. A premium is achieved when the coupon for any maturity (the interest rate paid by the issuer) exceeds the yield to the investor, resulting in a price paid that is greater than the face value of the bonds. The sum of the amounts paid in excess of face value is considered "reoffering premium." The underwriter of the bonds will retain a portion of this reoffering premium as its compensation (or "discount") but will pay the remainder of the premium to the City. The amount of the premium varies, but it is not uncommon to see premiums for new issues in the range of 2.00% to 10.00% of the face amount of the issue. This means that an issuer with a $2,000,000 offering may receive bids that result in proceeds of $2,040,000 to $2,200,000. For this issue, we have been directed to use the net premium to reduce the size of the issue. the resulting adjustments may slightly change the true interest cost of the issue. Review of Existing Debt: We have reviewed all outstanding indebtedness for the City and find that, other than the Series 2010A Bonds to be refunded by the Bonds, there are no other refunding opportunities at this Presale Report October 19, 2020 City of Spring Park, Minnesota Page 2 time. We will continue to monitor the market and the call dates for t and will alert you to any future refunding opportunities. Continuing Disclosure: Because the City has less than $10,000,000 in outstanding debt (in( issue is over $1,000,000, the City will agree to provide its Audi annually as well as providing notices of the occurrence of certain Municipal Securities Rulemaking Board (the "MSRB"), as required by Exchange Commission (SEC). The City is already obligated to pr existing bonds and has contracted with Ehlers to prepare and file t Arbitrage Monitoring: Because the Bonds tax-exempt obligations, the City must ensur Internal Revenue Service (IRS) rules throughout the life of the issu gross proceeds of the issue, including initial bond proceeds a construction, escrow, debt service, and any reserve fu nds. Ho w iss and how they track interest earnings on funds (arbitrage/yield-------�-- common subjects of IRS inquiries. Your specific responsibilities will be defined in the Arbitrage Certifi Attorney and provided at closing. We recommend that you moll rules and/or contract with Ehlers to assist you. We also recorrimen procedures regarding compliance with IRS rules and/or contract Investment of Bond Proceeds: To maximize interest earnings, we recommend using an SEC- regis assist with the investment of bond proceeds until they are needed is a registered investment advisor and can assist the City in investment strategy if needed. Other Service Providers: This debt issuance will require the engagement of other pubt is fi section identifies those other service providers, so Eh I ers can coo your behalf. Fees charged by these service provicl ers wi 1 I be obligation, unless you notify us that you wish to pay them from Our pre -sale bond sizing includes a good faith estimate of thes vary. If you have any questions pertaining to the ider-itified servi you would like to use a different provider for any of the listed se Bond Counsel: Taft Stettinius & Hollister LLP Paying Agent: Bond Trust Services Corporation Rating Agency: Standard & Poor's Global Ratings (S -&P) Presale Report City of Spring Park, Minnesota Summary: The decisions to be made by the City Council are as follows: • Accept or modify the finance assumptions described in this report • Adopt the resolution attached to this report. This presale report summarizes our understanding of the City's objectives for the structure and terms of this financing as of this date. As additional facts become known or capital markets conditions change, we may need to modify the structure and/or terms of this financing to achieve results consistent with the City's objectives. Presale Report October 19, 2020 City of Spring Park, Minnesota Page 4 Pre -Sale Review by City Council: October 19, 2020 Due Diligence Call to review Official Statement: Week of November 2, 2020 Distribute Official Statement: Week of November 2, 2020 Conference with Rating Agency: November 5, 2020 City Council Meeting to Award Sale of the Bonds: November 16, 2020 Estimated Closing Date: December 10, 2020 Redemption Date for the Obligations Being Refunded: February 1, 2021 Attachments Estimated Sources and Uses of Funds Estimated Proposed Debt Service Schedules Estimated Debt Service Comparisons Resolution Authorizing Ehlers to Proceed with Bond Sale Bruce Kimmel, Senior Municipal Advisor (651) 697-8572 Rebecca Kurtz, Senior Municipal Advisor (651) 697-8516 Chris Mickelson, Municipal Advisor (651) 697-8556 Emily Wilkie, Senior Public Finance Analyst (651) 697-8588 Alicia Gage, Senior Financial Analyst (651) 697-8551 The Preliminary Official Statement for this financing will be sent to City Councilmembers for review prior to the November 16, 2020 sale date. Presale Report October 19, 2020 City of Spring Park, Minnesota Page 5 City of Spring Park, Minnesota $1,570,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Issue Summary Assumes Current Market BQ "AA+" Rates plus 15bps Total Issue Sources And Uses Dated 12110/20201 Delivered 12/10/2020 Cur Ref Water Sewer 2010A - Cur Ref 2010A Issue Improvements Improvements Utility Rev - Improvement Summary Sources Of Funds Par Amount of Bonds _ ` — `— $405,000.00 _ $740,000.00 $370,000.00 $55,000.00 $1,570,000.00 Total Sources — �— --.-- — — $405,000_00 -- $740,000.00 $370,000.00 -- $55,000.00 $1,570,000.00 Uses Of Funds Total Underwriters Discount (1.300%) 5,265.00 _ _ 9,620.00 — 4,8810.00 715.00 20,410.00 Costs of Issuance 10,576.43 19,324.85 _ _ —_9,662.42 .436.30_~ 41,000.00 Deposit to Project Construction Fund 385,000.00 715,000,00 - T - 1,100,000.00 Deposit to Current Refunding Fund _ 355,000.00—� 50,000.00 405,000.00 Rounding Amount 4,133.57 (3,944.85) 527.58 2,848.70 3.590.00 Total Uses $405,000.00 $740,000.00 $370,000.00 $55 000.00 $1,570,000.00 Series 2020 GO Bonds CR 1 1 Issue Summary I 101IZ2020 1 2:23 PM *�-EHLERS City of Spring Park, Minnesota $1,570,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Issue Summary Assumes Current Market BQ "AA+" Rates plus 15bps Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/10/2020 - - - 08/01 /2021 - - 8,195.69 8,195.69 - 02/01/2022 155,000.00 0.350% 6,386.25 161,386.25 169,581.94 08/01/2022 - - 6,115.00 6,115.00 - 02/01/2023 150,000.00 0.350% 6,115.00 156,115.00 162,230.00 08/01/2023 - - 5,852.50 5,852.50 - 02/01/2024 160,000.00 0.400% 5,852.50 165,852.50 171,705.00 08/01/2024 - - 5,532.50 5,532.50 - 02/01/2025 160,0W.00 0.500% 5,532.50 165,532.50 171,065.00 08/01/2025 - - 5,132.50 5,132.50 - 02/01/2026 160,000.00 0.550% 5,132.50 165,132.50 170,265.00 08/01/2026 - - 4,692.50 4,692.50 - 02/01/2027 75,000.00 0.650% 4,692.50 79,692.50 84,385.00 08/01/2027 - - 4,448.75 4,448.75 - 02/01/2028 75,000.00 0.800% 4,448.75 79,448.75 83,897.50 08/01/2028 - - 4,148.75 4,148.75 - 02/01/2029 75,000.00 0.950% 4,148.75 79,148.75 83,297.50 08/01/2029 - - 3,792.50 3,792.50 02/01/2030 75,000.00 1.100% 3,792.50 78,742.50 82,585.00 08/01/2030 - - 3,380.00 3,380.00 - 02/01/2031 80,000.00 1.200% 3,380.00 83,380.00 86,760.00 08/01/2031 - - 2,900.00 2,900.00 - 02/01/2032 80,000.00 1.250% 2,900.00 82,900.00 85,800.00 08/01/2032 - - 2,400.00 2,400.00 - 02/01/2033 80,000.00 1.350% 2,400.00 82,400.00 84,800.00 08/01/2033 - - 1,860.00 1,860.00 - 02/01/2034 80,000.00 1.450% 1,860.00 81,860.00 83,720.00 08/01/2034 - - 1,280.00 1,280.00 - 02/01/2035 80,000.00 1.500% 1,280.00 81,280.00 82,560.00 08/01/2035 - - 680.00 680.00 - 02/01/2036 85,000.00 1.600% 680.00 85,680.00 86,360.00 Total $1,570,000.00 - $119,011.94 $1,689,011.94 Yield Statistics Bond Year Dollars $10,922.42 Average Life 6.957 Years Average Coupon 1.0896118% Net Interest Cost (NIC) 1.2764752% True Interest Cost (TIC) 1.2782062% Bond Yield for Arbitrage Purposes T 1.0805643% All Inclusive Cost (AIC) Y 1.6872962% IRS Form 8038 Net Interest Cost 1.0896118% Weighted Average Maturity 6.957 Years Series 2020 GO Bonds CR 1 1 Issue Summary 1 10/12/2020 1 2:23 PM '*."-EHLERS City of Spring Park, Minnesota $405,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Water Improvements Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/10/2020 _ _ 08/01/2021 - - 2,513.73 2,513.73 _ 02/01/2022 25,000.00 0.350% 1,958.75 26,958.75 29,472.48 08/01/2022 - - 1,915.00 1,915.00 _ 02/01/2023 25,000.00 0.350% 1,915.00 26,915.00 28,830.00 08/01/2023 - - 1,871.25 1,871.25 _ 02/01/2024 25,000.00 0.400% 1,871.25 26,871.25 28,742.50 08/01/2024 - - 1,821.25 1,821.25 - 02/01/2025 25,000.00 0.500% 1,821.25 26,821.25 28,642.50 08/01/2025 - - 1,758.75 1,758.75 _ 02/01/2026 25,000.00 0.550% 1,758.75 26,758.75 28,517.50 08/01/2026 - - 1,690.00 1,690.00 _ 02/01/2027 25,000.00 0.650% 1,690.00 26,690.00 28,380.00 08/01/2027 - - 1,608.75 1,608.75 _ 02/01/2028 25,000.00 0.8000/0 1,608.75 26,608.75 28,217.50 08/01/2028 - - 1,508.75 1,508.75 _ 02/01/2029 25,000.00 0.950% 1,508.75 26,508.75 28,017.50 08/01/2029 - - 1,390.00 1,390.00 _ 02/01/2030 25,000.00 1.100% 1,390.00 26,390.00 27,780.00 08/01/2030 - - 1,252.50 1,252.50 _ 02/01/2031 30,000.00 1.200% 1,252.50 31,252.50 32,505.00 08/01/2031 - - 1,072.50 1,072.50 _ 02/01/2032 30,000.00 1.250% 1,072.50 31,072.50 32,145.00 08/01/2032 - - 885.00 885.00 - 02/01/2033 30,000.00 1.350% 885.00 30,885.00 31,770.00 08/01/2033 - - 682.50 682.50 _ 02/01/2034 30,000.00 1.450% 682.50 30,682.50 31,365.00 08/01/2034 - - 465.00 465.00 _ 02/01/2035 30,000.00 1.500% 465.00 30,465.00 30,930.00 08/01/2035 - - 240.00 240.00 _ 02/01/2036 30,000.00 1,600% 240.00 30,240.00 30,480.00 Total $405,000.00 - $40,794.98 $445,794.98 _ Yield Statistics Bond Year Dollars $3,432.38 Average Life 8 475 Years Average Coupon _ _ 1.1885351% Net Interest Cost (NIC) 1.3419274% True Interest Cost (TIC) 1.3451024% Bond Yield for Arbitrage Purposes 1.08056430-o IRS Form 8038 Net Interest Cost _ 1.1885351% Weighted Average Maturi n__ 8.475 Years Series 2020 GO Bonds CR 1 I Water Improvements 1 10/12/2020 1 2:23 PM g'w.#.'E-'HLER'S City of Spring Park, Minnesota $740,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Sewer Improvements Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/10/2020 - - - 08/01/2021 - - 4,507.71 4,507.71 - 02/01/2022 45,000.00 0.350% 3,512.50 48,512.50 53,020.21 08/01/2022 - - 3,433.75 3,433.75 - 02/01/2023 45,000.00 0.350% 3,433.75 48,433.75 51,867.50 08/01/2023 - - 3,355.00 3,355.00 - 02/01/2024 45,000.00 0.400% 3,355.00 48,355.00 51,710.00 08/01/2024 - - 3,265.00 3,265.00 - 02/01/2025 50,000.00 0.500% 3,265.00 53,265.00 56,530.00 08/01/2025 - - 3,140.00 3,140.00 - 02/01/2026 50,000.00 0.550% 3,140.00 53,140.00 56,280.00 08/01/2026 - - 3,002.50 3,002.50 - 02/01/2027 50,000.00 0.650% 3,002.50 53,002.50 56,005.00 08/01/2027 - - 2,840.00 2,840.00 - 02/01/2028 50,000.00 0.800% 2,840.00 52,840.00 55,680.00 08/01/2028 - - 2,640.00 2,640.00 - 02/01/2029 50,000.00 0.950% 2,640.00 52,640.00 55,280.00 08/01/2029 - - 2,402.50 2,402.50 - 02/01/2030 50,000.00 1.100% 2,402.50 52,402.50 54,805.00 08/01/2030 - - 2,127.50 2,127.50 - 02/01/2031 50,000.00 1.200% 2,127.50 52,127.50 54,255.00 08/01/2031 - - 1,827.50 1,827.50 - 02/01/2032 50,000.00 1.250% 1,827.50 51,827.50 53,655.00 08/01/2032 - - 1,515.00 1,515.00 - 02/01/2033 50,000.00 1.350% 1,515.00 51,515.00 53,030.00 08/01/2033 - - 1,177.50 1,177.50 - 02/01/2034 50,000.00 1.450% 1,177.50 51,177.50 52,355.00 08/01/2034 - - 815.00 815.00 - 02/01/2035 50,000.00 1.500% 815.00 50,815.00 51,630.00 08/01/2035 - - 440.00 440.00 - 02/01/2036 55,000.00 1.600% 440.00 55,440.00 55,880.00 Total $740,000.00 - $71,982.71 S811,982.71 - Yield Statistics Bond Year Dollars $6,149.83 Average Life 8.31 I Years Average Coupon 1.1704823% Net Interest Cost (NIC) 1.3269093% True Interest Cost (TIC) 1.3298004% Bond Yield for Arbitrage Purposes_ 1.0805643% All Inclusive Cost (AIC) 1.6745279% IRS Fonn 8038 Net Interest Cost 1.1704823% Weighted Average MaturityF -- 8.311 Years Series 2020 GO Bonds CR 1 1 Sewer Improvements 1 10/12/2020 1 2:23 PM �*-EHLERS City of Spring Park, Minnesota $370,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Cur Ref 2010A - Utility Rev Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/10/2020 - 08/01/2021 - - 1,025.06 1,025.06 _ 02/01/2022 70,000.00 0.350% 798.75 70,798.75 71,823.81 08/01/2022 - - 676.25 676.25 _ 02/01/2023 70,000.00 0.350% 676.25 70,676.25 71,352.50 08/01/2023 - - 553.75 553.75 _ 02/01/2024 80,000.00 0.400% 553.75 80,553.75 81,107.50 08/01/2024 - - 393.75 393.75 _ 02/01/2025 75,000.00 0.500% 393.75 75,393.75 75,787.50 08/01/2025 - - 206.25 206.25 _ 02/01/2026 75,000.00 0.550% 206.25 75,206.25 75,412.50 Total $370,000.00 - $5,483.81 $375,483.81 _ Yield Statistics Bond Year Dollars $1,177.42 Average Life _ 3.182 Years Average Coupon _ 0.4657493% Net Interest Cost (NIC) 0.8742708% True Interest Cost (TIC) 0.881568606 Bond Yield for Arbitrage Purposes 1.0805643% All Inclusive Cost (AIC) 1.7402971% IRS Form 8038 Net Interest Cost 0.4657493% Weighted Average Maturity '�^ 3.182 Years Series 2020 GO Bonds CR 1 1 Cur Ref 2010A - Utility R 1 10/12/2020 1 2:23 PM Ca '%.".EHLERS City of Spring Park, Minnesota $370,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Cur Ref 2010A - Utility Rev Debt Service Comparison Net New Date Total P+I D/S Old Net D/S Savings 02/01 /2021 - - - - 02/01 /2022 71,823.81 71,823.81 77,118.78 5,294.97 02/01/2023 71,352.50 71,352.50 75,038.78 3,686.28 02/01/2024 81,107.50 81,107.50 82,893.78 1,786.28 02/01/2025 75,787.50 75,787.50 80,343.78 4,556.28 02/01/2026 75,412.50 75,412.50 77,718.78 2,306.28 Total $375,483.81 $375,483.81 $393,113.90 $17,630.09 PV Analysis Summary (Net to Net) Gross PV Debt Service Savings ..................... 16,920.28 Net PV Cashflow Savings @ 1.740°/a(AIC)............ 16,920.28 Contingency or Rounding Amount .................... 527.58 Net Present Value Benefit! _ $17,447.86 Net PV Benefit / $380,103.21 PV Refunded Debt Service 4.590% Net PV_Benefit / $355,000 Refunded Principal... 4.915% Net PV Benefit / $370,000 Refunding Principal.. --�`-- —" —-��-- — -- - - "- 4.716%0 Refunding Bond Information Refunding Dated Date 12/10/2020 Refunding Delivery Date 12/10/2020 Series 2020 GO Bonds CR 1 I Cur Ref 2010A - Utility R 1 10/12/2020 1 2:23 PM g�EHLERIS City of Spring Park, Minnesota $55,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Cur Ref 2010A - Improvement Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/10/2020 _ 08/01/2021 - - 149.19 149.19 _ 02/012022 15,000.00 0.350% 116.25 15,116.25 15,265.44 08/01/2022 - - 90.00 90.00 _ 02/012023 10,000.00 0.350% 90.00 10,090.00 10,180.00 08/012023 - - 72.50 72.50 - 02/012024 10,000.00 0.400% 72.50 10,072.50 10,145.00 08/012024 - - 52.50 52.50 - 02/012025 10,000.00 0.500% 52.50 10,052.50 10,105.00 08/012025 - - 27.50 27.50 _ 02/012026 10,000.00 0.550% 27.50 10,027.50 10,055.00 Total $55,000.00 - $750.44 $55,750.44 _ Yield Statistics _Bond Year Dollars ,. $162.79 Average Life _ _�_ 2 960 Years Average Coupon 0.4609818% Net Interest Cost (NIC) 0.9001935% Bond Yield for Arbitrage Purposes 1.0805643% All Inclusive Cost (AIC) �-� 1.8324630% IRS Form 8038 Net Interest Cost 0 4609818% Weighted Average Maturity 2.960 Years Series 2020 GO Bonds CR 1 1 Cur Ref 2010A - Improveme 1 10/12/2020 1 2:23 PM rg�EHLERS City of Spring Park, Minnesota $55,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Cur Ref 2010A - Improvement Debt Service Comparison Net New Old Net Date Total P+I DIS DIS Savings 02/01/2021 - - - - 02/01/2022 15,265.44 15,265.44 11,702.50 (3,562.94) 02/01/2023 10,180.00 10,180.00 11,382.50 1,202.50 02/01/2024 10,145.00 10,145.00 11,052.50 907.50 02/01/2025 10,105.00 10,105.00 10,712.50 607.50 02/01/2026 10,055.00 10,055.00 10,362.50 307.50 Total $55,750.44 $55,750.44 $55,212.50 (537.94) PV Analysis Summary (Net to Net) Gross PV Debt Service Savings ..................... (613.47) Net PV Cashflow Savings @ 1.8320/o(AIC)............ Contingency or Rounding Amount .................... Net Present Value Benefit (613.47) 2,848.70 $2,235.23 Net PV Benefit / $53,429.30 PV Refunded Debt Service 4.184% Net PV Benefit / $50,000 Refunded Principal... 4.470% Net PV Benefit / $55,000 Refunding Principal 4.064% Refunding Bond Information Refunding Dated Date 12/10/2020 Refunding Delivery Date 12/10/2020 Series 2020 GO Bonds CR 1 1 Cur Ref 2010A • Improveme 1 10/12/2020 1 2:23 PM `E.HL.ERIS City of Spring Park, Minnesota $1,570,000 General Obligation Utility Revenue & Refunding Bonds, Series 2020A Issue Summary Assumes Current Market BQ "AA+" Rates plus 15bps Form 8038 Refunded Bonds Date Type of Bond Coupon FV Principal Price Issue Price Ser 2010A GO Bonds CR rile 2020A* Water Treatment Plant 02/01/2022 02/01/2023 02/01/2024 02/01/2025 02/01/2026 Serial Coupon Serial Coupon Serial Coupon Serial Coupon Serial Coupon 3.200% 3.300% 3.400% 3.500% 3.625% 35,000.00 35,000.00 40,000.00 40,000.00 40,000.00 100.000% 100.000% 100.000% 100.000% 100.000% 35,000.00 35,000.00 40,000.00 40,000.00 40,000.00 Subtotal - $190,000.00 - $190,000.00 Ser 2010A GO Bonds CR file 2020A* Lift Station #2 02/01/2022 02/01/2023 02/01/2024 02/01/2025 Serial Coupon Serial Coupon Serial Coupon Serial Coupon 3.200% 3.300% 3.400% 3.500% 20,000.00 20,000.00 25,000.00 25,000.00 100.000% 100.000% 100,000% 100.000% 20,000.00 20,000.00 25,000.00 25,000.00 02/01/2026 Serial Coupon 3.625% 25,000.00 100.000% 25,000.00 Subtotal - $115,000.00 - $115,000.00 Ser 2010A GO Bonds CR file 2020A* Channel Road Water Main 02/01/2022 02/01/2023 02/01/2024 02/01/2025 Serial Coupon Serial Coupon Serial Coupon Serial Coupon 3.200% 3.300% 3.400% 3.500% 5,000.00 5,000.00 5,000.00 5,000.00 100.000% 100.000% 100.000% 100.000% 5,000.00 5,000.00 5,000.00 5,000.00 02/01/2026 Serial Coupon 3.625% 5,000.00 100.000% 5,000.00 Subtotal - $25,000.00 $25,000.00 Ser 2010A GO Bonds CR file 2020A* Channel Road Sanitary Sewer 02/01/2022 02/01/2023 02/01/2024 02/01/2025 Serial Coupon Serial Coupon Serial Coupon Serial Coupon 3.200% 3.300% 3.400% 3.500% 5,000.00 5,000.00 5,000.00 5,000.00 100.000% 100.000% 100.000% 100.000% 5,000.00 5,000.00 5,000.00 5,000.00 02/01/2026 Serial Coupon 3.625% 5,000.00 100.000% 5,000,00 Subtotal - $25,000.00 _ $25,000.00 Ser 2010A GO Bonds CR file 2020A* Channel Road Streets 02/01/2022 02/01/2023 02/01/2024 02/01/2025 Serial Coupon Serial Coupon Serial Coupon Serial Coupon 3.200% 3.300% 3.400% 3.500% 10,000.00 10,000.00 10,000.00 10,000.00 100.000% 100.000% 100.000% 100.000% 10,000.00 10,000.00 10,000.00 10,000.00 02/01/2026 Serial Coupon 3.625% 10,000.00 100.000% 10,000.00 Subtotal Total - - $50,000.00 $405,000.00 - _ $50,000.00 $405,000.00 Series 2020 GO Bonds CR 1 1 Issue Summary 1 10/12/2020 1 2:23 PM %�-EHLERS DRAFT — To Be Completed by City Resolution No. Councilmember introduced the following resolution and moved its adoption: Resolution Providing for the Sale of $1,570,000 General Obligation Utility Revenue and Refunding Bonds, Series 2026A A. WHEREAS, the City Council of the City of Spring Park, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $1,570,000 General Obligation Utility Revenue and Refunding Bonds, Series 2020A (the "Bonds"), to finance sanitary sewer and water main improvements in the City, and to refinance the City's remaining Series 2010A Bonds; and B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Spring Park, Minnesota, as follows: 1. Authorization: Findings. The City Council hereby authorizes Ehlers to assist the City for the sale of the Bonds. 2. Meeting, Proposal Opening. The City Council shall meet at 7:00 PM on November 16, 2020, for the purpose of considering proposals for and awarding the sale of the Bonds. 3. Official Statement. In connection with said sale, the officers or employees of the City are hereby authorized to cooperate with Ehlers and participate in the preparation of an official statement for the Bonds and to execute and deliver it on behalf of the City upon its completion. The motion for the adoption of the foregoing resolution was duly seconded by City Council Member and, after full discussion thereof and upon a vote being taken thereon, the following City Council Members voted in favor thereof: and the following voted against the same: Whereupon said resolution was declared duly passed and adopted. Dated this day of , Title of Document Signer