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2012-09-13 - Council Agenda
Agenda Corcoran City Council September 13, 2012 7:00 PM 1. Call to Order / Roll Call 2. Pledge of Allegiance 3. Agenda Approval 4. Open Forum 5. Presentations 6. Planning Business / Landform -None 7. Engineering / Wenck -None 8. Public Hearing a. $4.0 M Issuance of General Obligation Capital Improvement Bonds* b. $445,000 Issuance of General Obligation Equipment Certificates* c. Approval of Resolution 2012 -46 Approving Capital Improvement Plan (CIP); Preliminary issuance of Bonds* d. Approval of Resolution 2012 -47, Issuance and Sale of approximately $4,000,000 General Obligation Capital Improvement Plan Bonds* e. Approval of Resolution 2012 -48, Issuance and Sale of Approximately $445,000 on General Obligation Equipment Certificates of Indebtedness* f. Approval of Resolution 2012 -49, Establishing Policy on Bonded Debt that is in Conformance with IRS Regulation 8038G* 9. Consent Agenda a. Draft Minutes of August 23, 2012 Council Meeting* 10. Staff Reports/ Memos /Commissions -None 11. Unfinished Business a. Sewer and Water Project i. Change Order #1 * ii. Change Order #2* iii. Pay Request #1* b. Public Works Facility i. Selection of Architect* ii. Preconstruction meeting minutes and Verbal Update on Project Activities* c. Approval of Five Year Finance Plan* d. Approval of Fund Balance /Net Assets* e. Draft 2013 Budget Discussion 12. New Business a. Resolution 2012 -44 Approval of 2013 Preliminary Property Tax Levy* b. Resolution 2012 -45 Requesting the Met Council to Study Wastewater Flows* 13. Claims as Presented * a. Escrow Claims (Fund #500) b. Building Inspections Claims c. All Other Claims As Presented 14. Unscheduled Items 15. Closed Meeting a. To consider sewer and water easement negotiatons 16. Review of Upcoming Council Meeting Agenda 17. Adjournment Agenda Corcoran City Council September 13, 2012 7:00 PM *Includes Materials - Materials relating to these agenda items can be found in the House Agenda Packet by Door. Administrator's Agenda Notes Corcoran City Council Meeting September 13, 2012 4. Open Forum 5. Presentations-All Fire Departments' Annual Report 6. Planning Business / Landform -None 7. Engineering / Wenck -None 8. Public Hearing. Paul Donna will attend the meeting and he will be presenting the information on the two bond issues. Items a and b are for the public hearing. Items c thru a are the authorizing resolutions for the bond sales. Item f is a resolution adopting an IRS required policy regarding the city's intent to follow the rules regarding the use and disbursement of tax exempt bonds. If you pass the authorizing resolutions for the bond sales, the city has no choice and must adopt this policy. There is a lot of material to wade through but it all is required for the bond sales. Regarding the timing of when you should approve these resolutions for the sale, while staff would like you to approve at the council meeting on the 13th, you can wait until September 27th if you have questions that need to be looked into. Regarding the Public Hearing, you can hold it open until the 27th or you can close the hearing and put off approving the resolutions on the bond sales until the 27th. In fact, you can hold off on approving the Five Year Plan and the Fund Balance policy if you don't take action on the 13th regarding the bonds. a. $4.0 M Issuance of General Obligation Capital Improvement Bonds b. $445,000 Issuance of General Obligation Equipment Certificates c. Resolution 2012 -46, Approving Capital Improvement Plan (CIP); Preliminary Issuance of Bonds d. Resolution 2012 -47, Authorizing Issuance of $4,000,000 in GO Bonds e. Resolution 2012 -48, Authorizing Issuance of $445,000 in GO Certificates f. Resolution 2012 -49 Policy on Post Bond Issuance Compliance 9. Consent Agenda a. Draft Minutes of August 27, 2012 Council Meeting* 10. Staff Reports/ Memos /Commissions -None 11. Unfinished Business a. Sewer and Water Project -See the memos in your packet from the city engineer. Change order #1 is a minimal cost increase due to pipe quantity actually used in the field. #2 is a no cost change and involves the three owner participants in the project. The pay request is the first from the contractor. All such pay requests must follow the project specifications regarding reimbursements for work done. All such pay requests must be for work actually done or costs actually incurred, and must be recommended for payment by the city engineer. i. Change Order #1 ii. Change Order #2 iii. Pay Request #1 b. PW Facility i. Recommendation on Architect -See my memo ii. Minutes of the Construction Manager meeting and Verbal Update on Project Activities c. Approval of Five Year Finance Plan. See my memo which covers 11 c and 11 d d. Approval of City Policy on Fund Balance /Net Assets Page I 1 Administrator's Agenda Notes Corcoran City Council Meeting September 13, 2012 e. Draft 2013 Budget -See my memo 12. New Business a. Resolution 2012 -44, Preliminary Tax Levy b. Resolution 2012 -45, Wastewater Flows. See my memo 13. Claims as Presented * a. Escrow Claims (Fund #500) b. Building Inspections Claims c. All Other Claims As Presented 14. Unscheduled Items 15. Closed Meeting -The city attorney has advised that he will ask the council to hold a closed meeting regarding the negotiation on the easements need for the Sewer and Water project. 16. Review of Upcoming Council Meeting Agenda 17. Adjournment Planning Commission P & T Commission Page 12 Council Calendar 7/10/12 8/2/12 9/6/12 10/4/12 11/1/12 12/6/12 Cossette Asleson Milbrandt Guenthner Cossette Gmach 6/19/12 7/17/12 8/21/12 9/18/12 10/16/12 11/20/12 Gmach Asleson Milbrandt Guenthner Cossette Gmach FINANCE PLAN SUMMARY FOR CITY OF CORCORAN, MINNESOTA $4,000,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2012B NORTHLAND (0SECURITIES 45 South 711, Street Suite 2000 Minneapolis, MN 55402 612- 851 -5900 800 - 851 -2920 September 13, 2012 City of Corcoran, Minnesota $4,000,000 General Obligation Capital Improvement Plan Bonds, Series 2012B 101►k1►to] 1► two] L,I II NATA I IkU This Finance Plan Summary describes the recommended terms and process for the issuance of the following bond issue: • $4,000,000 General Obligation Capital Improvement Plan Bonds, Series 2012B PURPOSE The Bonds will be issued to finance the construction a new public works facility. The total cost of the project is estimated by the City to be $3,818,176. A detailed illustration of the expected sources and uses of funds is illustrated below. Sources & Uses Dated 11/01/2012 1 Delivered 11/01/2012 Sources Of Funds Par Amount of Bonds $4,000,000.00 Total Sources $4,000,000.00 Uses Of Funds Total Uses $4,000,000.00 STATUTORY AUTHORITY The Bonds will be issued pursuant to the authority of Minnesota Statutes Chapter 475 and Chapter 475.521. The authorizing statute requires a "reverse referendum" process by which the City holds a public hearing (September 13f) to consider the issuance of the bonds and adoption of the capital improvement plan (Attachment A) drafted particularly for the public works facility. Generally, bonds issued by a city to finance capital improvements under the approved capital improvements plan are not subject to an election. However, if, within 30 days of the public hearing, a petition requesting a vote on the issuance of the bonds is received signed Page 2 NORTHLAND 0SECURITI I.ti registered voters in the City equal to five percent of the votes cast in the City's last general election, then the bonds may be issued only after obtaining approval by the majority of voters voting on a question to issue the bonds. DEBT SERVICE STRUCTURE The detailed debt structure (Appendix B of Attachment A) reflects capitalized interest through August 1, 2013 and minimal principal payments in years 2015 through 2018 and level debt service for the remainder of the term of the Bonds. We understand this repayment structure fits within the City's overall debt management plan. The illustration below assumes an average interest rate on the bonds of 3.50% and an all inclusive cost of 3.63 %. SECURITY & SOURCE OF REPAYMENT The Bonds will be a general obligation of the City of Corcoran. The City will levy taxes in 2012 for collection in 2013 to make the February 1, 2014 principal and interest payment. Thereafter, the first collection of debt service levy tax revenues will be used to make the August 1 interest payment and the second half collection will be used along with surplus first half collections to make the subsequent February 1 principal and interest payments. RELATED CONSIDERATIONS • Bank Qualification - We understand the City (in combination with any subordinate taxing jurisdictions or debt issued in the City's name by 501c3 corporations) anticipates issuing $10.OM or less in tax - exempt debt during this calendar year. Therefore the bonds will be designated as "bank qualified" obligations pursuant to Federal Tax Law. • Arbitrage and Rebate — Because the City will not have issued more than $S.OM in tax - exempt bonds in calendar year 2012 so the City will qualify for the Small Issuer Exemption in order to exempt the Series 2012B proceeds from rebate. This exemption from rebate does not eliminate the need to comply with other arbitrage regulations governing the investment of bond proceeds and debt service funds. In particular, the City should become familiar with the requirements for maintaining a "bona fide" debt service fund. These requirements will be explained in the bond transcript following closing. • Continuing Disclosure - Because this issue is more than $1,000,000, and the City's outstanding debt is less than $10.OM, it is subject to the Securities and Exchange Commission's limited continuing disclosure requirements. Northland Securities is prepared to assist the City in this capacity. Page 3 NORTHLAND 0SECURITIES SUMMARY OF RECOMMENDED TERMS 1. Type of Bond Sale 2. Proposals Received 3. Council Consideration 4. Statutory Authority Public Offering - Sealed Bids Thursday, October 12, 2012 @ 10:30 A.M. Thursday, October 12, 2012 @ 7:00 P.M The Bonds are being issued pursuant to Minnesota Statutes 475 and 475,521. 5. Repayment Term The Bonds will mature annually each February 1, 2015 - 2038. Interest on the Bonds will be payable on August 1, 2013 and semiannually thereafter on each February 1 and August 1. 6. Security General Obligation of the City. 7. Prepayment Option The Bonds maturing February 1, 2022 - 2038 will be subject to prepayment on February 1, 2021 at a price of par plus accrued interest. 8. Tax Status Kennedy & Graven, Chartered, Minneapolis, Minnesota 9. Credit Enhancement We believe a credit rating will be cost beneficial. We will assist the City in securing a rating through Moody's Investors Services. Page 4 NORTHLAND 0SECURITi I.ti ATTACHMENT A Page 5 NORTHLAND 0SECURITIES 2012 through 2017 Capital Improvement Plan for City of Corcoran, Minnesota Prepared by: City of Corcoran, Minnesota 8200 County Road 116 Corcoran, Minnesota 55340 Table of Contents I. Introduc II. Purpose, III. The Capital Improvement Planning IV. kM Project Summary. Financing the Capital Improvement Plan. 0 7 Project Costs ................................ ............................... Appendix A Proposed CIP Bond Issue ................ ............................... Appendix B Pre -Sale Schedule ........................... ............................... Appendix C Complete Listing of Capital Improvement Plan Projects .............Appendix D Page 2 CITY OF CORCORAN MINNESOTA AMENDED CAPITAL IMPROVEMENT PLAN 2012 THROUGH 2017 I. INTRODUCTION The City of Corcoran, Minnesota (the "City ") has compiled a listing of all anticipated capital improvement projects for the years 2012 through 2017. (See Appendix D). In 2003, the Minnesota State Legislature adopted Minnesota Statutes, Section 475.521 (the "Act "), which generally exempts City bonds issued under a capital improvement program from the referendum requirements usually required for city halls, public works and public safety facilities. The only project being financed with Capital Improvement Plan Bonds is the construction of a new public works facility as discussed in detail in the following sections. II. PURPOSE A capital improvement is a major expenditure of City funds for the acquisition or betterment to public lands, buildings, or other improvements used as a city hall, public safety, or public works facility, which has a useful live of five years or more. For the purposes of the Act, capital improvements do not include light rail transit or related activities, parks, road/bridges, administrative buildings other than City hall or land for those facilities. A Capital Improvement Plan (CIP) is a document designed to anticipate capital improvement expenditures and schedule them over a five -year period so that they may be purchased in the most efficient and cost effective method possible. A CIP allows the matching of expenditures with anticipated income. As potential expenditures are reviewed, the City considers the benefits, costs, alternatives and impact on operating expenditures. The City believes the capital improvement process is an important element of responsible fiscal management. Major capital expenditures can be anticipated and coordinated so as to minimize potentially adverse financial impacts caused by the timing and magnitude of capital outlays. This coordination of capital expenditures is important to the City in achieving its goals of adequate physical assets and sound fiscal management. In these financially difficult times, good planning is essential for the wise use of limited financial resources. Page 3 The CIP is designed to be updated on an annual basis. In this manner, it becomes an ongoing fiscal planning tool that continually anticipates future capital expenditures and funding sources. III. THE CAPITAL IMPROVEMENT PLANNING PROCESS The capital improvement planning process is as follows: the City Council authorizes the preparation of the CIP. City staff is instructed to assemble the capital expenditures to be undertaken within the next five years. The City Council then reviews the expenditures according to their priority, fiscal impact, and available funding. From this information, a preliminary capital improvement plan is prepared. A public hearing is held to solicit input from citizens and other governmental units. Changes are made based on that input and a final project list is established. The City Council then prepares a plan based on the available funding sources. If general obligation bonding is necessary, the City works with its financial advisor to prepare a bond sale and repayment schedule. Over the life of the CIP, once the funding, including proceeds from the bond sales becomes available, the individual capital expenditures can be made. In subsequent years, the process is repeated as expenditures are completed and new needs arise. Capital improvement planning looks five years into the future. For a City to use its authority to finance expenditures under the Act, it must meet the requirements provided therein. Specifically, the City Council must approve the sale of capital improvement bonds by a three -fifth majority of its membership. In addition, it must hold a public hearing regarding both the CIP and issuance of bonds. Notice of such hearing must be published in the official newspaper of the City at least fourteen, but not more than twenty -eight days prior to the date of the public hearing. The City Council approves the CIP following the public hearing. Although a referendum is not required, issuance of bonds under the Act is subject to a "reverse referendum ". If a petition signed by voters equal to at least five percent of the votes cast in the last general election is received by the municipal clerk within thirty days after the public hearing regarding bonds, the bonds may not be issued unless approved by the voters. If the City decides to submit the question to the voters, the question passes if approved by a majority of voters who vote on that question. Page 4 IV. PROJECT SUMMARY The expenditures to be financed through the issuance of bonds under this amended CIP are limited to those listed below. All other foreseeable capital expenditures within the City government will come through other means. (In addition, this CIP supplements and adds to any activities authorized in any prior CIP approved by the City under the Act). The following expenditures have been submitted for inclusion in this CIP: a) Finance construction of a new public works facility. The Act has established certain criteria that must be met. In accordance with these criteria, the City has considered the following eight points: 1. Condition of the City's infrastructure and need for the project. 2. Demand for the improvement. 3. Cost of the improvement. 4. Availability of public resources. 5. Level of overlapping debt. 6. Cost/benefits of alternative uses of funds. 7. Operating costs of the proposed improvements. 8. Options for shared facilities with other cities or local governments. The City has analyzed the eight points required per statute for the project. Its findings are as follows: Project Description: The project will consist of a development from which all Public Works programming and related activities will be located. The City intends to operate from a 12.6 acre site and deliver all Public Works services for up to 30 to 50 years, and beyond. In addition to the purchase of the 12.6 acre site, an expandable facility(s) of an approximately 20,000 square feet will be built. Conditions of City Infrastructure and Need for the Project The City's current public works site is not adequate and lacks the utility services necessary to carry out efficient operations, programs and services. Demand for Project Current Public Works operations, programs, and services are housed at a site of less than one (1) acres which is less than adequate physically and not efficient from an operations perspective. Located at this site is: • An 1890 vintage school house that is about to be condemned due to numerous safety and OSHA violations Page 5 • A steel building that lacks space to store valuable equipment and stores, and lacks space for servicing equipment • A well that is inadequate for water needs of Public Works programs • A septic system that does not meet county and state standards; and a discharge field that cannot be located or determined Also, the City's sizable rolling fleet of capital equipment is stored throughout the city in three private storage facilities. These facilities lack all safeguards as to security of equipment, fire protection, and timely accessibility. Estimated Cost of the Project Total construction costs are estimated to be approximately $3,800,000. The detailed sources and uses of the project financing are as follows: Construction Fund $3,818,177 Capitalized Interest Fund 75,373 Plus Costs of Issuance and Rounding 86,450 Equals Estimated Par Amount $4,000,000 Availability of Public Resources The project may be funded by a combination of general property tax levy and available resources on hand. In addition, the Bonds would be secured by the City's full faith and credit. Relative Costs and Benefits of Alternative Uses of the Funds There are no significant alternatives for funds designated for this project. Operating Costs of the Proposed Improvements The proposed project is expected to have an annual operating cost of $40,000. Options for Shared Facilities with Other Cities or Local Government Corcoran worked with a neighboring city in 2010 and 2011 that looked into and studied an option of a shared facility. It was determined that based on the land area of the city ( -36 square miles) and the future needs of the city, a shared facility would not be: • Practical • Not be cost efficient to the city • Would not provide a more superior public works product to the citizens of the city. Page 6 Level of Overlapping Debt Net Indirect Debt: 24.165.148 V. FINANCING THE CAPITAL IMRPOVEMENT PLAN In the financing of the CIP, two statutory limitations apply. Under Chapter 475, with few exceptions, cities cannot incur debt in excess of 3% of the assessor's Taxable Market Value (TMV) for the City. In the City, the estimated TMV is $677,032,083 Therefore, the total amount of outstanding debt cannot exceed $20,310,962. As of September 13, 2012, the City had $1,052,000 of debt subject to the legal debt limit. After issuance of the Equipment Certificates, Series 2012A and the CIP Bonds, Series 2012B the debt subject to the legal debt limit will be $5,052,000 leaving a debt margin of approximately $15,258,962. Tax Capacity Values are after tax increment, 10% of 200 kV transmission line and fiscal disparity contributions and before fiscal disparity distribution adjustments. (2) Deductions: (A) $1,043,237,846 Metropolitan Waste Control Commission Debt as of December 31, 2011. Note 1: Debt Service on (A) above is 100% self supported from revenues of the Metro Sanitary Sewer System, although the bonds are full faith and credit bonds. Note 2: The only tax supported bond indebtedness is $10,900,000 as of December 31, 2011, less non - escrowed funds for debt of $12,761,497 as of December 31, 2011. (3) Metro Transit has bond indebtedness of $292,745,000 as of December 31, 2011 and non - escrowed funds for debt service of $57,926,978. This debt is issued by the Metropolitan Council for all public transit operations in the transit district, of which Metro Transit is the largest public transit provider, and is payable from ad valorem taxes levied on all taxable property within the Metropolitan Transit District. (3) Three Rivers Park District has bond indebtedness of $82,275,000 as of December 31, 2011. (4 Hennepin County Railroad Authority has bond indebtedness of $40,505,000 as of December 31, 2011. Page 7 2011/2012 201112012 Tax Tax Capacity Percentage Taxpayer's Capacity Value Applicable Net Debt Share Issuer Value(l) in City() in Ci (As o[08-29-12 o Debt Hennepin County $ 1,251,745,096 $6,536,742 .52% $ 732,745,000 $3,810,274 ISD No. 877, Buffalo 23,627,448 2,784,212 11.78 63,770,000 7,512,106 ISD No. 879, Delano 12,569,806 805,648 6.41 23,585,000 1,511,799 ISD No. 883, Rockford 9,427,095 2,651,010 28.12 32,195,000 9,053,234 ISD No. 279, Osseo 121,853,398 522,385 .43 145,755,000 626,747 ISD No. 284, Wayzata 103,870,258 290,786 .28 65,135,000 182,378 Metropolitan Council 2,705,979,151 6,536,742 .24 0(2) 0 Metro Transit 2,371,125,078 6,536,742 .28 234,818,022(3) 657,490 Three Rivers Park District 932,985,676 6,536,742 .70 82,275,000(3) 600,495 Hennepin County Railroad Authority 1,251,745,096 6,536,742 .52 40,505,000(4) 210,626 Net Indirect Debt: 24.165.148 V. FINANCING THE CAPITAL IMRPOVEMENT PLAN In the financing of the CIP, two statutory limitations apply. Under Chapter 475, with few exceptions, cities cannot incur debt in excess of 3% of the assessor's Taxable Market Value (TMV) for the City. In the City, the estimated TMV is $677,032,083 Therefore, the total amount of outstanding debt cannot exceed $20,310,962. As of September 13, 2012, the City had $1,052,000 of debt subject to the legal debt limit. After issuance of the Equipment Certificates, Series 2012A and the CIP Bonds, Series 2012B the debt subject to the legal debt limit will be $5,052,000 leaving a debt margin of approximately $15,258,962. Tax Capacity Values are after tax increment, 10% of 200 kV transmission line and fiscal disparity contributions and before fiscal disparity distribution adjustments. (2) Deductions: (A) $1,043,237,846 Metropolitan Waste Control Commission Debt as of December 31, 2011. Note 1: Debt Service on (A) above is 100% self supported from revenues of the Metro Sanitary Sewer System, although the bonds are full faith and credit bonds. Note 2: The only tax supported bond indebtedness is $10,900,000 as of December 31, 2011, less non - escrowed funds for debt of $12,761,497 as of December 31, 2011. (3) Metro Transit has bond indebtedness of $292,745,000 as of December 31, 2011 and non - escrowed funds for debt service of $57,926,978. This debt is issued by the Metropolitan Council for all public transit operations in the transit district, of which Metro Transit is the largest public transit provider, and is payable from ad valorem taxes levied on all taxable property within the Metropolitan Transit District. (3) Three Rivers Park District has bond indebtedness of $82,275,000 as of December 31, 2011. (4 Hennepin County Railroad Authority has bond indebtedness of $40,505,000 as of December 31, 2011. Page 7 Another limitation on bonding under the Act is that without referendum, the total amount that can be used for principal and interest in any one year for CIP debt cannot exceed 0.16% of the TMV for the City, using the values for the tax - payable year in which bonds are sold. In the City, the amount is estimated to be $1,083,251 ($677,032,083 x .0016) for estimated taxes payable in 2012. The estimated maximum principal and interest payment for the Bonds is $274,700 and is within the statutory limitations for the City. The Bonds will be the only outstanding capital improvement plan bond obligations. Under the CIP, the City will issue approximately $4,000,000 in 25 -year general obligation bonds in the year 2012 to finance the construction of a new public works facility. The par amount of the Bonds is subject to change and based on the amounts listed in Appendix A. Continuation of the Capital Improvement Plan This CIP should be reviewed annually by the City Council using the process outlined in this plan. The City Council should review proposed expenditures, make priority decisions and seek funding for those expenditures it deems necessary for the City. If deemed appropriate, the City Council should prepare an update to this plan. Page 8 APPENDIX A PROJECT COSTS (Capital Expenditures to be Funded with Bond Proceeds) 2012 Expenditures • Construction of new Public Works Facility - $4,000,000 Page 9 APPENDIX B Net Debt Service Schedule Date Principal Coupon Interest Total P +I CIF Net New D/S 02/01/2013 160,000.00 2.600% - - - 02/01/2014 - - 158,956.25 158,956.25 (95,373.75) 63,582.50 02/01/2015 40,000.00 0.900% 127,165.00 167,165.00 167,165.00 02/01/2016 40,000.00 1.050% 126,805.00 166,805.00 166,805.00 02/01/2017 80,000.00 1.250% 126,385.00 206,385.00 206,385.00 02/01/2018 65,000.00 1.450% 125,385.00 190,385.00 190,385.00 02/01/2019 125,000.00 1.700% 124,442.50 249,442.50 249,442.50 02/01/2020 130,000.00 1.900% 122,317.50 252,317.50 252,317.50 02/01/2021 150,000.00 2.100% 119,847.50 269,847.50 269,847.50 02/01/2022 150,000.00 2.300% 116,697.50 266,697.50 266,697.50 02/01/2023 155,000.00 2.450% 113,247.50 268,247.50 268,247.50 02/01/2024 160,000.00 2.600% 109,450.00 269,450.00 269,450.00 02/01/2025 165,000.00 2.750% 105,290.00 270,290.00 270,290.00 02/01/2026 170,000.00 2.900% 100,752.50 270,752.50 270,752.50 02/01/2027 175,000.00 3.050% 95,822.50 270,822.50 270,822.50 02/01/2028 180,000.00 3.200% 90,485.00 270,485.00 270,485.00 02/01/2029 185,000.00 3.350% 84,725.00 269,725.00 269,725.00 02/01/2030 195,000.00 3.450% 78,527.50 273,527.50 273,527.50 02/01/2031 200,000.00 3.550% 71,800.00 271,800.00 271,800.00 02/01/2032 210,000.00 3.650% 64,700.00 274,700.00 274,700.00 02/01/2033 215,000.00 3.750% 57,035.00 272,035.00 272,035.00 02/01/2034 225,000.00 3.850% 48,972.50 273,972.50 273,972.50 02/01/2035 230,000.00 3.950% 40,310.00 270,310.00 270,310.00 02/01/2036 240,000.00 4.050% 31,225.00 271,225.00 271,225.00 02/01/2037 250,000.00 4.150% 21,505.00 271,505.00 271,505.00 02/01/2038 265,000.00 4.200% 11,130.00 276,130.00 276,130.00 Total $4,000,000.00 - $2,272,978.75 $6,272,978.75 (95,373.75) $6,177,605.00 Page 10 APPENDIX C PROPOSED CIP BOND ISSUE 5 -Year City Capital Improvement Plan Bond Issuance City of Corcoran, Minnesota The City Council must take the following actions before bonds can be issued: • City Council directs preparation of a 5 -year Capital Improvement Plan • City Council conducts a Public Hearing on issuance of bonds and Capital Improvement Plan • City Council approves bonds and Capital Improvement Plan by at least a three - fifths vote of the Council membership The table below lists the steps in issuing process: 08- 09 -12: City Council adopts Resolution Calling for Public Hearing on Issuance of Bonds and on Capital Improvement Plan. 08- 16 -12: Close date to get Notice of Public Hearing on Issuance of Bonds and on Capital Improvement Plan to official newspaper for publication. 08 -16 -12 Publish Notice of Public Hearing on Issuance of Bonds and on Capital Improvement Plan (publication no more than 28 days and no less than 14 days prior to hearing date). 09- 13 -12: City Council holds Public Hearing on Bonds and on Capital Improvement Plan and adopts resolution giving preliminary approval for their issuance and approving Capital Improvement Plan by at least a three -fifths vote of the Council membership. 10- 12 -12: Reverse referendum period ends (within 30 days of the public hearing). 10- 25 -12: City adopts resolution approving sale of the bonds. 11- 20 -12: Closing/receipt of funds. Page 11 APPENDIX D Capital Improvement Plan Summary City of Corcoran, MN Capital Improvement Plan (CIP) Summary Five Year Financial Plan SOURCE OF FUNDS Equipment certificates 2012 Est. Actual 2013 2014 2015 2016 2011 Total USE OF FUNDS 4,000,000 - - - - - 4,000,000 Equipment Vehicles, and EaaGties 316,503 106,000 149,000 240900 369,500 115,000 1,296,003 Sanitary Sewer and Water Improvements 010,000 2,293,000 - - 4,203,000 Street Improvements - - - Public WAs facility 1,000,000 3,000,000 - - - - 4,000,000 TOTAL 3,226,503 5,399,000 149,000 240,000 369,500 115,000 9,499,003 SOURCE OF FUNDS Equipment certificates 316,503 106,000 149,000 240,000 369,500 115,000 1296,003 OP bond proceeds 4,000,000 - - - - - 4,000,000 Tax Arement funds 1610,000 681,900 2,291,900 Assessment bond proceeds (Utlity Project) 300,000 1,605,100 1,905,100 Assessment bond porceeds (Streets) - - - Assessment streets pre -paid (est 15 %) Municipal State Aid streets - - - TOTAL 6,226,503 2,399,000 149,000 240,000 369,500 115,000 9,499,003 Source of Funds in Excess of Use of Funds 3,000,000 (3,000,000) - - - - - Page 12 FINANCE PLAN SUMMARY =A FOR CITY OF CORCORAN, MINNESOTA $445,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, SERIES 2012A NOI: "1'HLAND4)SECURITIES 45 South 7h Street Suite 2000 Minneapolis, MN 55402 612- 851 -5900 800 - 851 -2920 September 13, 2012 City of Corcoran, Minnesota $445,000 General Obligation Equipment Certificates of Indebtedness, Series 2012A MaI0k1 LIEN NEW610 /11 &VId1M1ILI1 This Finance Plan Summary describes the recommended terms and process for the issuance of the following bond issue: • $445,000 General Obligation Equipment Certificates of Indebtedness, Series 2012A PURPOSE The Certificates will be issued to finance the acquisition of capital equipment. The total cost of the equipment is estimated by the City to be $422,503 and includes capital equipment purchases for 2012 and 2013 pursuant to the City's Capital Improvement Plan. A detailed illustration of the expected sources and uses of funds is illustrated below. Sources & Uses Dated 11/01/2012 1 Delivered 11/01/2012 Sources Of Funds Par Amount of Bonds $445,000.00 Total Sources Uses Of Funds $445,000.00 Total Underwriter's Discount (1.500 %) 6,675.00 Costs of Issuance 14,020.00 Deposit to Project Construction Fund 422,503.00 Rounding Amount 1,802.00 Total Uses $445,000.00 STATUTORY AUTHORITY The Certificates will be issued pursuant to the authority of Minnesota Statutes Chapter 475 and Chapter 412.301. Because the amount borrowed does not exceed 0.25% of the City's taxable market value, the certificates are being issued by a 3 /5ths vote of the Council. Page 2 NORTHLAND 0SECURITIES DEBT SERVICE STRUCTURE The debt structure reflects a level annual requirement over a term of ten years. We understand this repayment structure fits within the City's overall debt management plan. The illustration below assumes an average interest rate on the bonds of 1.86% and an all inclusive cost of 2.76 %. Debt Service Schedule Date Principal Coupon Interest Total P +I Fiscal Total 11/01/2012 - - - - - 11/01/2013 40,000.00 0.650% 7,000.00 47,000.00 47,000.00 05/01/2014 - - 3,370.00 3,370.00 - 11/01/2014 40,000.00 0.800% 3,370.00 43,370.00 46,740.00 05/01/2015 - - 3,210.00 3,210.00 - 11/01/2015 45,000.00 1.000% 3,210.00 48,210.00 51,420.00 05/01/2016 - - 2,985.00 2,985.00 - 11/01/2016 45,000.00 1.200% 2,985.00 47,985.00 50,970.00 05/01/2017 - - 2,715.00 2,715.00 - 11/01/2017 45,000.00 1.450% 2,715.00 47,715.00 50,430.00 05/01/2018 - - 2,388.75 2,388.75 - 11/01/2018 45,000.00 1.700% 2,388.75 47,388.75 49,777.50 05/01/2019 - - 2,006.25 2,006.25 - 11/01/2019 45,000.00 1.900% 2,006.25 47,006.25 49,012.50 05/01/2020 - - 1,578.75 1,578.75 - 11/01/2020 45,000.00 2.100% 1,578.75 46,578.75 48,157.50 05/01/2021 - - 1,106.25 1,106.25 - 11/01/2021 45,000.00 2.250% 1,106.25 46,106.25 47,212.50 05/01/2022 - - 600.00 600.00 - 11/01/2022 50,000.00 2.400% 600.00 50,600.00 51,200.00 Total $445,000.00 - $46,920.00 $491,920.00 - SECURITY & SOURCE OF REPAYMENT The Certificates will be a general obligation of the City of Corcoran. The City will levy taxes in 2012 for first collection in 2013 to pay principal and interest on the Certificates when due. Page 3 NORTHI.AND0SECURITIES RELATED CONSIDERATIONS • Bank Qualification - We understand the City (in combination with any subordinate taxing jurisdictions or debt issued in the City's name by 501c3 corporations) anticipates issuing $10.OM or less in tax - exempt debt during this calendar year. Therefore the Certificates will be designated as "bank qualified" obligations pursuant to Federal Tax Law. • Arbitrage and Rebate — Because the City will not have issued more than $S.OM in tax - exempt bonds in calendar year 2012 the City will qualify for the Small Issuer Exemption in order to exempt the Series 2012A proceeds from rebate. This exemption from rebate does not eliminate the need to comply with other arbitrage regulations governing the investment of bond proceeds and debt service funds. In particular, the City should become familiar with the requirements for maintaining a "bona fide" debt service fund. These requirements will be explained in the bond transcript following closing. • Continuing Disclosure - Because this issue is less than $1,000,000, and the City's outstanding debt is less than $10.OM, it is subject to the Securities and Exchange Commission's limited continuing disclosure requirements. Northland Securities is prepared to assist the City in this capacity. Page 4 NORTHLAND 0SECURITIES SUMMARY OF RECOMMENDED TERMS 1. Type of Bond Sale 2. Proposals Received 3. Council Consideration 4. Statutory Authority Public Offering - Sealed Bids Thursday, October 12, 2012 @ 10:30 A.M. Thursday, October 12, 2012 @ 7:00 P.M The Bonds are being issued pursuant to Minnesota Statutes 475 and 412.30. 5. Repayment Term The Certificates will mature annually each November 1, 2013 - 2022. Interest on the Certificates will be payable on November 1, 2013 and semiannually thereafter on each May 1 and November 1. 6. Security General Obligation of the City. The City will levy taxes in 2012 for first collection in 2013 for payment of principal and interest when due on the Certificates. 7. Prepayment Option The Certificates maturing November 1, 2018 - 2022 will be subject to prepayment on November 1, 2017 at a price of par plus accrued interest. 8. Tax Status Kennedy & Graven, Chartered, Minneapolis, Minnesota 9. Credit Enhancement We believe a credit rating will be cost beneficial. We will assist the City in securing a rating through Moody's Investors Services. Page 5 NORTHLAND 0SECURITIES APPENDIX A Page 6 NORTHLAND 0SECURITIES Capital Improvement Plan and Debt Service City of Corcoran, MN Study Capital Improvement Plan (CIP) Summary Five Year Financial Plan Source of Funds in Excess of Use of Funds 3,000,000 (3,000,000) - 2012 Est. Actual 2013 2014 2015 2016 2011 Total USE OF FUNDS Equipment, Vehicles, and Facilities 316,503 106,000 149,000 240,000 369,500 115,000 1,296,003 Sanitary Sewer and Water Improvements 1,910,000 2,293,000 - - - - 4,203,000 Street Improvements - - - - Public Works Facility 1,000,000 3,000,000 - - - - 4,000,000 TOTAL 3,226,503 5,399,000 149,000 240,000 369,500 115,000 9,499,003 SOURCE OF FUNDS Equipment certificates 316,503 106,000 149,000 240,000 369,500 115,000 1,296,003 CIP bond proceeds 4,000,000 - - - - - 4,000,000 Tax increment funds 1,610,000 681,900 2,291,900 Assessment bond proceeds (Utlity Project) 300,000 1,605,100 1,905,100 Assessment bond porceeds (Streets) - - - Assessment streets pre -paid (est.15 %) Municipal State Aid streets - - - TOTAL 6,226,503 2,399,000 149,000 240,000 369,500 115,000 9,499,003 Source of Funds in Excess of Use of Funds 3,000,000 (3,000,000) - City of Corcoran County of Hennepin State of Minnesota RESOLUTION NO. 2012 -46 A RESOLUTION ADOPTING A CAPITAL IMPROVEMENT PLAN AND PROVIDING PRELIMINARY APPROVAL FOR THE M3.YII"Eli X112 I lox, L11VY:IX1RxOKI1 '7 September 13, 2012 MR WHEREAS, pursuant to Minnesota Statutes, Section 475.521 (the "Act"), cities are authorized to adopt a capital improvement plan and carry out programs for the financing of capital improvements; and WHEREAS, the City of Corcoran, Minnesota (the "City "), has previously prepared a Capital Improvement Plan, and has now caused to be prepared a Capital Improvement Plan for the years 2012 through 2016 (the "Plan"); and WHEREAS, on the date hereof, the City Council of the City (the "Council ") has conducted a duly noticed public hearing regarding adoption of the Plan pursuant to the requirements of the Act and the issuance of general obligation bonds thereunder in a maximum principal amount of $4,000,000; and WHEREAS, in considering the Plan, the Council has considered: 1. the condition of the City's existing infrastructure, including the projected need for repair and replacement; 2. the likely demand for the improvement; 3. the estimated cost of the improvement; 4. the available public resources; 5. the level of overlapping debt in the City; 6. the relative benefits and costs of alternative uses of the funds; 7. operating costs of the proposed improvements; and 8. alternatives for providing services more efficiently through shared facilities with other local government units. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORCORAN, MINNESOTA: The Plan is hereby approved. 2. City staff are hereby authorized to do all other things and take all other actions as may be necessary or appropriate to carry out the Plan in accordance with any applicable laws and regulations. 3. The City gives preliminary approval to the issuance of the bonds in the maximum principal amount of $4,000,000, provided that if a petition requesting a vote on issuance of the bonds, signed by voters equal to five percent of the votes cast in the last general election, is filed with City Clerk by October 13, 2012, the City may issue the bonds only after obtaining approval of a majority of voters voting on the question at an election. 410455vt MNI CR100 -14 City of Corcoran County of Hennepin State of Minnesota VOTING AYE ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn RESOLUTION NO. 2012 -46 VOTING NAY ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn September 13, 2012 Whereupon, said Resolution is hereby declared adopted on this 13th day of September 2012. Kenneth Guenthner - Mayor ATTEST: City Seal Jeanie Heinecke — City Clerk 410455v1 MNI CR100 -14 Z 0 Extract of Minutes of Meeting of the City Council of the City of Corcoran, Hennepin County, Minnesota Pursuant to due call and notice thereof a regular meeting of the City Council of the City of Corcoran, Hennepin County, Minnesota, was held at the City Hall in the City on Thursday, September 13, 2012, commencing at 7:00 P.M. The following members of the Council were present: and the following were absent: The following resolution was presented by Councilmember who moved its adoption: RESOLUTION NO. 2012 -47 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF APPROXIMATELY $4,000,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2012B BE IT RESOLVED By the City Council of the City of Corcoran, Hennepin County, Minnesota (the "City ") as follows: 1.01. The City is authorized by Minnesota Statutes, section 475.521 (the "Act ") to finance certain capital improvements under an approved capital improvement plan by the issuance of general obligation bonds of the City payable from ad valorem taxes if no petition requesting a referendum regarding issuance of such bonds is filed within 30 days after the date of the public hearing regarding such bonds. Capital improvements include acquisition or betterment of public lands, buildings or other improvements for the purpose of a city hall, library, public safety facility and public works facilities (excluding light rail transit or any activity related to it, or a park, road, bridge, administrative building other than a city hall, or land for any of those activities). 1.02. On the date hereof the City Council held a duly noticed public hearing regarding a five year capital improvement plan (the "Plan ") in accordance with the Act. The Plan authorizes issuance of bonds to pay the cost of the construction and equipping of a public works facility in the City (the "Project "). On the same date, the City Council approved the Plan providing for issuance of bonds (the 'Bonds ") in the maximum principal amount of $4,000,000 as required by the Act. 1.03. As required by the Act, the City has determined that: (i) the expected useful life of the Project will be at least five years; and (ii) the amount of principal and interest due in any year on all outstanding bonds issued by the City under the Act, including the Bonds, will not exceed 0.16 percent of the taxable market value of property in the City for taxes payable in 2012. 2. In order to provide financing for the Project, the City will therefore issue and sell Bonds in the amount of $3,952,000. To provide in part the additional interest required to market the Bonds at this time, additional Bonds will be issued in the amount of $48,000. The amounts cited above are subject to adjustment in accordance with the Notice of Sale. The Bonds will be issued, sold and delivered in accordance with the terms of the following Notice of Sale: (The remainder of this page is intentionally left blank.) 4104570 MNI CR100 -14 2 NOTICE OF SALE $4,000,000* GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2012B CITY OF CORCORAN, MINNESOTA (Book -Entry Only) NOTICE IS HEREBY GIVEN that these Bonds will be offered for sale according to the following terms: TIME AND PLACE: Proposals will be opened by the City's Administrator, or designee, on Thursday, October 25, 2012, at 10:30 A.M., CT, at the offices of Northland Securities, Inc., 45 South 7th Street, Suite 2000, Minneapolis, Minnesota 55402. Consideration of the Proposals for award of the sale will be by the City Council at its meeting at the City Offices beginning Thursday, October 25, 2012 at 7:00 P.M., CT. SUBMISSION OF PROPOSALS Proposals may be: a) submitted to the office of Northland Securities, Inc., b) faxed to Northland Securities, Inc. at 612 - 851 -5918, c) for proposals submitted prior to the sale, the final price and coupon rates may be submitted to Northland Securities, Inc. by telephone at 612 - 851 -5900 or 612 - 851 -4920, or d) submitted electronically. Notice is hereby given that electronic proposals will be received via PARITYT", or its successor, in the manner described below, until 10:30 A.M., CT, on Thursday, October 25, 2012. Proposals may be submitted electronically via PARITYT'm or its successor, pursuant to this Notice until 10:30 A.M., CT, but no Proposal will be received after the time for receiving Proposals specified above. To the extent any instructions or directions set forth in PARITYT'm, or its successor, conflict with this Notice, the terms of this Notice shall control. For further information about PARITYT`", or its successor, potential bidders may contact Northland Securities, Inc. or i -Deal° at 1359 Broadway, 2nd floor, New York, NY 10018, telephone 212 - 849 -5021. Neither the City nor Northland Securities, Inc. assumes any liability if there is a malfunction of PARITYTm or its successor. All bidders are advised that each Proposal shall be deemed to constitute a contract between the bidder and the City to purchase the Bonds regardless of the manner in which the Proposal is submitted. * The City reserves the right to increase or decrease the principal amount of the Bonds. Any such increase or decrease will be made in multiples of $5,000 and may be made in any maturity. If any maturity is adjusted, the purchase price will also be adjusted to maintain the same gross spread. 4104570 MNI CR100 -14 BOOK -ENTRY SYSTEM The Bonds will be issued by means of a book -entry system with no physical distribution of bond certificates made to the public. The Bonds will be issued in fully registered form and one bond certificate, representing the aggregate principal amount of the Bonds maturing in each year, will be registered in the name of Cede & Co. as nominee of Depository Trust Company ( "DTC "), New York, New York, which will act as securities depository of the Bonds. Individual purchases of the Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single maturity through book entries made on the books and records of DTC and its participants. Principal and interest are payable by the City through Northland Trust Services, Inc. Minneapolis, Minnesota (the "Paying Agent /Registrar "), to DTC, or its nominee as registered owner of the Bonds. Transfer of principal and interest payments to participants of DTC will be the responsibility of DTC; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial owners. The successful bidder, as a condition of delivery of the Bonds, will be required to deposit the bond certificates with DTC. The City will pay reasonable and customary charges for the services of the Paying Agent/Registrar. November 1, 2012 DATE OF ORIGINAL ISSUE OF BONDS AUTHORITY /PURPOSE /SECURITY The Bonds are being issued pursuant to Minnesota Statutes, Chapters 475, as amended. Proceeds will be used to (i) finance the construction and equipping of a public works facility within the City and (ii) pay costs associated with the issuance of the Bonds. The Bonds are valid and binding general obligations of the City and are payable solely from ad valorem taxes. The full faith and credit of the City is pledged to their payment and the City has validly obligated itself to levy ad valorem taxes to pay all principal and interest payments on this issue upon all of the taxable property within the City and without limitation of amount. INTEREST PAYMENTS Interest is due semiannually on each February 1 and August 1, commencing August 1, 2013, to registered owners of the Bonds appearing of record in the Bond Register as of the close of business on the fifteenth day (whether or not a business day) of the calendar month preceding such interest payment date. 4104570 MNI CR100 -14 4 MATURITIES Principal is due annually on February 1, inclusive, in each of the years and amounts as follows: Year Amount Year Amount Year Amount 2015 $40,000 2023 $155,000 2031 $200,000 2016 40,000 2024 160,000 2032 210,000 2017 80,000 2025 165,000 2033 215,000 2018 65,000 2026 170,000 2034 225,000 2019 125,000 2027 175,000 2035 230,000 2020 130,000 2028 180,000 2036 240,000 2021 150,000 2029 185,000 2037 250,000 2022 150,000 2030 195,000 2038 265,000 Proposals for the Bonds may contain a maturity schedule providing for any combination of serial bonds and term bonds, subject to mandatory redemption, so long as the amount of principal maturing or subject to mandatory redemption in each year conforms to the maturity schedule set forth above. INTEREST RATES All rates must be in integral multiples of 1 /20th or 1 /8th of 1 %. Rates must be in level or ascending order. All Bonds of the same maturity must bear a single uniform rate from date of issue to maturity. ADJUSTMENTS TO PRINCIPAL AMOUNT AFTER PROPOSALS The City reserves the right to increase or decrease the principal amount of the Bonds. Any such increase or decrease will be made in multiples of $5,000 and may be made in any maturity. If any maturity is adjusted, the purchase price will also be adjusted to maintain the same gross spread. Such adjustments shall be made promptly after the sale and prior to the award of Proposals by the City and shall be at the sole discretion of the City. The successful bidder may not withdraw or modify its Proposal once submitted to the City for any reason, including post - sale adjustment. Any adjustment shall be conclusive and shall be binding upon the successful bidder. OPTIONAL REDEMPTION Bonds maturing on February 1, 2022 through 2038 are subject to redemption and prepayment at the option of the City on February 1, 2021 and any date thereafter, at a price of par plus accrued interest. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the maturities and principal amounts within each maturity to be redeemed shall be determined by the City and if only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid shall be chosen by lot by the Bond Registrar. 4104570 MNI CR100 -14 5 CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute cause for a failure or refusal by the successful bidder thereof to accept delivery of and pay for the Bonds in accordance with terms of the purchase contract. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the successful bidder. DELIVERY Delivery of the Bonds will be within forty days after award, subject to an approving legal opinion by Kennedy and Graven, Chartered, Bond Counsel. The legal opinion will be paid by the City and delivery will be anywhere in the continental United States without cost to the successful bidder at DTC. TYPE OF PROPOSAL Proposals of not less than $3,952,000 (98.80 %) and accrued interest on the principal sum of $4,000,000 must be filed with the undersigned prior to the time of sale. Proposals must be unconditional except as to legality. Proposals for the Bonds should be delivered to Northland Securities, Inc. and addressed to: Daniel Donahue, City Administrator Corcoran City Hall 8200 County Road 116. Corcoran, Minnesota 55340 A good faith deposit (the "Deposit ") in the amount of $80,000 in the form of a federal wire transfer (payable to the order of the City) is only required from the apparent winning bidder, and must be received within two hours after the time stated for the receipt of Proposals. The apparent winning bidder will receive notification of the wire instructions from the Financial Advisor promptly after the sale. If the Deposit is not received from the apparent winning bidder in the time allotted, the City may choose to reject their Proposal and then proceed to offer the Bonds to the next lowest bidder based on the terms of their original proposal, so long as said bidder wires funds for the Deposit amount within two hours of said offer. The City will retain the Deposit of the successful bidder, the amount of which will be deducted at settlement and no interest will accrue to the successful bidder. In the event the successful bidder fails to comply with the accepted Proposal, said amount will be retained by the City. No Proposal can be withdrawn after the time set for receiving Proposals unless the meeting of the City scheduled for award of the Bonds is adjourned, recessed, or continued to another date without award of the Bonds having been made. 4104570 MNI CR100 -14 6 AWARD The Bonds will be awarded on the basis of the lowest interest rate to be determined on a true interest cost (TIC) basis. The City's computation of the interest rate of each Proposal, in accordance with customary practice, will be controlling. In the event of a tie, the sale of the Bonds will be awarded by lot. The City will reserve the right to: (i) waive non - substantive informalities of any Proposal or of matters relating to the receipt of Proposals and award of the Bonds, (ii) reject all Proposals without cause, and (iii) reject any Proposal which the City determines to have failed to comply with the terms herein. INFORMATION FROM SUCCESSFUL BIDDER The successful bidder will be required to provide, in a timely manner, certain information relating to the initial offering price of the Bonds necessary to compute the yield on the Bonds pursuant to the provisions of the Internal Revenue Code of 1986, as amended. OFFICIAL STATEMENT By awarding the Bonds to any underwriter or underwriting syndicate submitting a Proposal therefor, the City agrees that, no more than seven business days after the date of such award, it shall provide to the senior managing underwriter of the syndicate to which the Bonds are awarded, the Final Official Statement in an electronic format as prescribed by the Municipal Securities Rulemaking Board (MSRB). LIMITED CONTINUING DISCLOSURE CERTIFICATE The City will covenant in the resolution awarding the sale of the Bonds and in a Continuing Disclosure Certificate to provide, or cause to be provided, annual financial information, including audited financial statements of the City, and notices of certain material events, as required by SEC Rule 15c2 -12. BANK QUALIFICATION The City will designate the Bonds as qualified tax - exempt obligations for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. BOND INSURANCE AT UNDERWRITER'S OPTION If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the option of the successful bidder, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the successful bidder of the Bonds. Any increase in the costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the successful bidder, except that, if the City has requested and received a rating on the Bonds from a rating agency, the City will pay that rating fee. Any other rating agency fees shall be the responsibility of the successful bidder. Failure of the municipal 4104570 MNI CR100 -14 7 bond insurer to issue the policy after the Bonds have been awarded to the successful bidder shall not constitute cause for failure or refusal by the successful bidder to accept delivery on the Bonds. The City reserves the right to reject any and all Proposals, to waive informalities and to adjourn the sale. Dated: September 13, 2012 BY ORDER OF THE CORCORAN CITY COUNCIL /s/ Daniel Donahue City Administrator Additional information may be obtained from: Northland Securities, Inc. 45 South 7th Street, Suite 2000 Minneapolis, Minnesota 55402 Telephone No.: 612 - 851 -5900 4104570 MNI CR100 -14 8 3. Northland Securities, Inc. is authorized and directed to negotiate the Bonds in accordance with the foregoing Notice of Sale. The City Council will meet at 7:00 P.M. on Thursday, October 25, 2012, to consider proposals on the Bonds and take any other appropriate action with respect to the Bonds, provided that no petition requesting a referendum on the question of issuing the Bonds has been filed within 30 days after the date hereof. 4. The law firm of Kennedy & Graven, Chartered, as bond counsel for the City, is authorized to act as bond counsel and to assist in the preparation and review of necessary documents, certificates and instruments relating to the Bonds. The officers, employees and agents of the City are hereby authorized to assist Kennedy & Graven, Chartered in the preparation of such documents, certificates, and instruments. 5. In the resolution awarding the sale of the Bonds the City Council will set forth the covenants and undertakings required by the Act. (The remainder of this page is intentionally left blank.) 4104570 MNI CR100 -14 9 The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon the following members voted in favor of the motion: and the following voted against: whereupon the resolution was declared duly passed and adopted. 4104570 MNI CR100 -14 10 STATE OF MINNESOTA ) COUNTY OF HENNEPIN ) CITY OF CORCORAN ) I, the undersigned, being the duly qualified and acting City Clerk- Treasurer of the City of Corcoran, Minnesota, hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular meeting of the City Council of the City held on Thursday, September 13, 2012, with the original minutes on file in my office and the extract is a full, true and correct copy of the minutes, insofar as they relate to the issuance and sale of approximately $4,000,000 General Obligation Capital Improvement Plan Bonds, Series 2012B of the City. WITNESS My hand as City Clerk - Treasurer and the corporate seal of the City this day of 12012. City Clerk- Treasurer City of Corcoran, Minnesota (SEAL) 4104570 MNI CR100 -14 :- Extract of Minutes of Meeting of the City Council of the City of Corcoran, Hennepin County, Minnesota Pursuant to due call and notice thereof a regular meeting of the City Council of the City of Corcoran, Hennepin County, Minnesota, was held at the City Hall in the City on Thursday, September 13, 2012, commencing at 7:00 P.M. The following members of the Council were present: and the following were absent: The following resolution was presented by Councilmember who moved its adoption: RESOLUTION NO. 2012 -48 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF APPROXIMATELY $445,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, SERIES 2012A BE IT RESOLVED By the City Council of the City of Corcoran, Hennepin County, Minnesota (the "City ") as follows: It is hereby determined that: a) the City is authorized by Minnesota Statutes, Section 412.301 (the "Act") to issue its general obligation certificates of indebtedness (the "Certificates ") on such terms and in such manner as the City determines to finance the purchase of items of capital equipment (the "Equipment "), subject to certain limitations contained in the Act; (b) the City will purchase and acquire various items of Equipment, which items and the cost thereof, are listed on Exhibit A, attached hereto and made a part hereof; (c) as required by the Act, (i) the expected useful life of each item of Equipment is or will be at least as long as the term of the Certificates; and (ii) the principal amount of Certificates to be issued in the year 2012 will exceed 0.25 percent of the market value of taxable property in the City for the year 2012; (d) it is necessary and expedient to the sound financial management of the affairs of the City to issue approximately $445,000 General Obligation Equipment Certificates of Indebtedness, Series 2012A pursuant to the Act to provide financing for the Equipment. 2. In order to provide financing for the Equipment, the City will therefore issue and sell Certificates in the amount of $438,325. To provide in part the additional interest required to market the Certificates at this time, additional Certificates will be issued in the amount of $6,675. The amounts cited above are subject to adjustment in accordance with the Notice of Sale. The Certificates will be issued, sold and delivered in accordance with the terms of the following Notice of Sale: (The remainder of this page is intentionally left blank.) 4104460 MNI CR100 -14 2 NOTICE OF SALE $445,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, SERIES 2012A CITY OF CORCORAN, MINNESOTA (Book -Entry Only) NOTICE IS HEREBY GIVEN that these Certificates will be offered for sale according to the following terms: TIME AND PLACE: Proposals will be opened by the City's Administrator, or designee, on Thursday, October 25, 2012, at 10:30 A.M., CT, at the offices of Northland Securities, Inc., 45 South 7th Street, Suite 2000, Minneapolis, Minnesota 55402. Consideration of the Proposals for award of the sale will be by the City Council at its meeting at the City Offices beginning Thursday, October 25, 2012 at 7:00 P.M., CT. SUBMISSION OF PROPOSALS Proposals may be: a) submitted to the office of Northland Securities, Inc., b) faxed to Northland Securities, Inc. at 612- 851 -5918, c) for proposals submitted prior to the sale, the final price and coupon rates may be submitted to Northland Securities, Inc. by telephone at 612 - 851 -5900 or 612- 851 -4920, or d) submitted electronically. Notice is hereby given that electronic proposals will be received via PARITYTm, or its successor, in the manner described below, until 10:30 A.M., CT, on Thursday, October 25, 2012. Proposals may be submitted electronically via PARITYTM or its successor, pursuant to this Notice until 10:30 A.M., CT, but no Proposal will be received after the time for receiving Proposals specified above. To the extent any instructions or directions set forth in PARITYT , or its successor, conflict with this Notice, the terms of this Notice shall control. For further information about PARITYT`", or its successor, potential bidders may contact Northland Securities, Inc. or i -Deal° at 1359 Broadway, 2nd floor, New York, NY 10018, telephone 212 - 849 -5021. Neither the City nor Northland Securities, Inc. assumes any liability if there is a malfunction of PARITY m or its successor. All bidders are advised that each Proposal shall be deemed to constitute a contract between the bidder and the City to purchase the Certificates regardless of the manner in which the Proposal is submitted. The City reserves the right to increase or decrease the principal amount of the Certificates. Any such increase or decrease will be made in multiples of $5,000 and may be made in any maturity. If any maturity is adjusted, the purchase price will also be adjusted to maintain the same gross spread. 4104460 MNI CR100 -14 BOOK -ENTRY SYSTEM The Certificates will be issued by means of a book -entry system with no physical distribution of bond certificates made to the public. The Certificates will be issued in fully registered form and one bond certificate, representing the aggregate principal amount of the Certificates maturing in each year, will be registered in the name of Cede & Co. as nominee of Depository Trust Company ( "DTC "), New York, New York, which will act as securities depository of the Certificates. Individual purchases of the Certificates may be made in the principal amount of $5,000 or any multiple thereof of a single maturity through book entries made on the books and records of DTC and its participants. Principal and interest are payable by the City through Northland Trust Services, Inc. Minneapolis, Minnesota (the "Paying Agent/Registrar "), to DTC, or its nominee as registered owner of the Certificates. Transfer of principal and interest payments to participants of DTC will be the responsibility of DTC; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial owners. The successful bidder, as a condition of delivery of the Certificates, will be required to deposit the bond certificates with DTC. The City will pay reasonable and customary charges for the services of the Paying Agent /Registrar. November 1, 2012 DATE OF ORIGINAL ISSUE OF CERTIFICATES AUTHORITY /PURPOSE /SECURITY The Certificates are being issued pursuant to Minnesota Statutes, Chapters 475 and 412.301. Proceeds will be used to (i) finance the acquisition of capital equipment (ii) and pay the costs associated with the issuance of the Certificates. The Certificates are valid and binding general obligations of the City and are payable solely from ad valorem taxes. The full faith and credit of the City is pledged to their payment and the City has validly obligated itself to levy ad valorem taxes to pay all principal and interest payments on this issue upon all of the taxable property within the City and without limitation of amount. INTEREST PAYMENTS Interest is due semiannually on each November 1 and May 1, commencing November 1, 2013, to registered owners of the Certificates appearing of record in the Bond Register as of the close of business on the fifteenth day (whether or not a business day) of the calendar month preceding such interest payment date. MATURITIES Principal is due annually on November 1, inclusive, in each of the years and amounts as follows: Year Amount Year Amount 2013 $40,000 2018 $45,000 2014 40,000 2019 45,000 2015 45,000 2020 45,000 2016 45,000 2021 45,000 2017 45,000 2022 50,000 4104460 MNI CR100 -14 4 Proposals for the Certificates may contain a maturity schedule providing for any combination of serial Certificates and term Certificates, subject to mandatory redemption, so long as the amount of principal maturing or subject to mandatory redemption in each year conforms to the maturity schedule set forth above. INTEREST RATES All rates must be in integral multiples of 1 /20th or 1 /8th of 1 %. Rates must be in level or ascending order. All Certificates of the same maturity must bear a single uniform rate from date of issue to maturity. ADJUSTMENTS TO PRINCIPAL AMOUNT AFTER PROPOSALS The City reserves the right to increase or decrease the principal amount of the Certificates. Any such increase or decrease will be made in multiples of $5,000 and may be made in any maturity. If any maturity is adjusted, the purchase price will also be adjusted to maintain the same gross spread. Such adjustments shall be made promptly after the sale and prior to the award of Proposals by the City and shall be at the sole discretion of the City. The successful bidder may not withdraw or modify its Proposal once submitted to the City for any reason, including post -sale adjustment. Any adjustment shall be conclusive and shall be binding upon the successful bidder. OPTIONAL REDEMPTION Certificates maturing on November 1, 2018 through 2022 are subject to redemption and prepayment at the option of the City on November 1, 2017 and any date thereafter, at a price of par plus accrued interest. Redemption may be in whole or in part of the Certificates subject to prepayment. If redemption is in part, the maturities and principal amounts within each maturity to be redeemed shall be determined by the City and if only part of the Certificates having a common maturity date are called for prepayment, the specific Certificates to be prepaid shall be chosen by lot by the Bond Registrar. CUSIP NUMBERS If the Certificates qualify for assignment of CUSIP numbers such numbers will be printed on the Certificates, but neither the failure to print such numbers on any Certificate nor any error with respect thereto shall constitute cause for a failure or refusal by the successful bidder thereof to accept delivery of and pay for the Certificates in accordance with terms of the purchase contract. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the successful bidder. DELIVERY Delivery of the Certificates will be within forty days after award, subject to an approving legal opinion by Kennedy and Graven, Chartered, Bond Counsel. The legal opinion will be paid by the City and delivery will be anywhere in the continental United States without cost to the successful bidder at DTC. TYPE OF PROPOSAL Proposals of not less than $438,325 (98.50 %) and accrued interest on the principal sum of $445,000 must be filed with the undersigned prior to the time of sale. Proposals must be unconditional except as to legality. Proposals for the Certificates should be delivered to Northland Securities, Inc. and addressed to: 4104460 MNI CR100 -14 5 Daniel Donahue, City Administrator Corcoran City Hall 8200 County Road 116. Corcoran, Minnesota 55340 A good faith deposit (the "Deposit ") in the amount of $8,900 in the form of a federal wire transfer (payable to the order of the City) is only required from the apparent winning and must be received within two hours after the time stated for the receipt of Proposals. The apparent winning bidder will receive notification of the wire instructions from the Financial Advisor promptly after the sale. If the Deposit is not received from the apparent winning bidder in the time allotted, the City may choose to reject their Proposal and then proceed to offer the Certificates to the next lowest bidder based on the terms of their original proposal, so long as said bidder wires funds for the Deposit amount within two hours of said offer. The City will retain the Deposit of the successful bidder, the amount of which will be deducted at settlement and no interest will accrue to the successful bidder. In the event the successful bidder fails to comply with the accepted Proposal, said amount will be retained by the City. No Proposal can be withdrawn after the time set for receiving Proposals unless the meeting of the City scheduled for award of the Certificates is adjourned, recessed, or continued to another date without award of the Certificates having been made. AWARD The Certificates will be awarded on the basis of the lowest interest rate to be determined on a true interest cost (TIC) basis. The City's computation of the interest rate of each Proposal, in accordance with customary practice, will be controlling. In the event of a tie, the sale of the Certificates will be awarded by lot. The City will reserve the right to: (i) waive non - substantive informalities of any Proposal or of matters relating to the receipt of Proposals and award of the Certificates, (ii) reject all Proposals without cause, and (iii) reject any Proposal which the City determines to have failed to comply with the terms herein. INFORMATION FROM SUCCESSFUL BIDDER The successful bidder will be required to provide, in a timely manner, certain information relating to the initial offering price of the Certificates necessary to compute the yield on the Certificates pursuant to the provisions of the Internal Revenue Code of 1986, as amended. OFFICIAL STATEMENT By awarding the Certificates to any underwriter or underwriting syndicate submitting a Proposal therefor, the City agrees that, no more than seven business days after the date of such award, it shall provide to the senior managing underwriter of the syndicate to which the Certificates are awarded, the Final Official Statement in an electronic format as prescribed by the Municipal Securities Rulemaking Board (MSRB). LIMITED CONTINUING DISCLOSURE CERTIFICATE The City will covenant in the resolution awarding the sale of the Certificates and in a Continuing Disclosure Certificate to provide, or cause to be provided, annual financial information, including audited financial statements of the City, and notices of certain material events, as required by SEC Rule 15c2 -12. 4104460 MNI CR100 -14 6 BANK QUALIFICATION The City will designate the Certificates as qualified tax - exempt obligations for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. CERTIFICATE INSURANCE AT UNDERWRITER'S OPTION If the Certificates qualify for issuance of any policy of municipal bond insurance or commitment therefor at the option of the successful bidder, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the successful bidder of the Certificates. Any increase in the costs of issuance of the Certificates resulting from such purchase of insurance shall be paid by the successful bidder, except that, if the City has requested and received a rating on the Certificates from a rating agency, the City will pay that rating fee. Any other rating agency fees shall be the responsibility of the successful bidder. Failure of the municipal Certificate insurer to issue the policy after the Certificates have been awarded to the successful bidder shall not constitute cause for failure or refusal by the successful bidder to accept delivery on the Certificates. The City reserves the right to reject any and all Proposals, to waive informalities and to adjourn the sale. Dated: September 13, 2012 BY ORDER OF THE CORCORAN CITY COUNCIL /s/ Daniel Donahue City Administrator Additional information may be obtained from: Northland Securities, Inc. 45 South 7th Street, Suite 2000 Minneapolis, Minnesota 55402 Telephone No.: 612 - 851 -5900 4104460 MNI CR100 -14 7 3. Northland Securities, Inc. is authorized and directed to negotiate the Certificates in accordance with the foregoing Notice of Sale. The City Council will meet at 7:00 P.M. on Thursday, October 25, 2012, to consider proposals on the Certificates and take any other appropriate action with respect to the Certificates. 4. The law firm of Kennedy & Graven, Chartered, as bond counsel for the City, is authorized to act as bond counsel and to assist in the preparation and review of necessary documents, certificates and instruments relating to the Certificates. The officers, employees and agents of the City are hereby authorized to assist Kennedy & Graven, Chartered in the preparation of such documents, certificates, and instruments. 5. In the resolution awarding the sale of the Certificates the City Council will set forth the covenants and undertakings required by the Act. (The remainder of this page is intentionally left blank.) 4104460 MNI CR100 -14 8 The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon the following members voted in favor of the motion: and the following voted against: whereupon the resolution was declared duly passed and adopted. 4104460 MNI CR100 -14 9 STATE OF MINNESOTA ) COUNTY OF HENNEPIN ) CITY OF CORCORAN ) I, the undersigned, being the duly qualified and acting City Clerk- Treasurer of the City of Corcoran, Minnesota, hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular meeting of the City Council of the City held on Thursday, September 13, 2012, with the original minutes on file in my office and the extract is a full, true and correct copy of the minutes, insofar as they relate to the issuance and sale of approximately $445,000 General Obligation Equipment Certificates of Indebtedness, Series 2012A of the City. WITNESS My hand as City Clerk- Treasurer and the corporate seal of the City this day of 2012. (SEAL) 410446v1 MNI CR100 -14 City Clerk- Treasurer City of Corcoran, Minnesota EXHIBIT A Equipment to be Financed 3 squads Support & protection equipment 2 mobile radios Tandem dump truck Track skid loader Mini Excavator Road shouldering machine Mower Council chambers improvements Council chambers furniture 4104460 MNI CR100 -14 470 US Bank Plaza 8fi. Kennedy 200 South Sixth Street i Minneapolis MN 55402 _ Graven _, -M E CHARTERED (612) 337 -9300 telephone (612) 337 -9310 fax http://www.kennedy-graven.com MEMORANDUM To: Dan Donahue, Administrator; City Council of Corcoran From: Martha Ingram, Kennedy & Graven Re: Post - Issuance Compliance for Tax - Exempt Bonds Date: September 13, 2012 The City of Corcoran ( "City ") is an issuer of tax - exempt governmental bonds. Over time, the Internal Revenue Service ( "IRS ") has developed a series of regulations that require issuers of such bonds to take certain actions after the bonds have been issued, to ensure that the bonds remain tax - exempt. The IRS has also begun to investigate whether issuers of tax - exempt bonds are complying with these regulations. For example, in early 2009, the IRS mailed its Governmental Bond Financings Compliance Check Questionnaire, Form 14002 to two hundred governmental entities that had issued tax - exempt bonds in 2005. A major focus of the IRS questionnaire is whether the governing body of the issuer responding to the questionnaire has adopted written procedures for its required post- issuance compliance actions. The questions in this questionnaire provide clear guidance from the IRS on the post- issuance actions that are expected from issuers of tax - exempt governmental bonds, the records that the IRS expects such issuers to retain, and the period of time such records are expected to be retained. The IRS has suggested that it may send this or a similar questionnaire to more issuers in the near future. More recently, in September 2011, the IRS revised its Form 8038 -G, which is the informational tax return that issuers of tax - exempt governmental bonds are required to submit in connection with each bond issue. The new version of the Form 8038 -G requires the issuer to certify whether it has written procedures in place for its post- issuance compliance activities. In addition, if a problem with the tax exemption of the bonds is identified at some point, the IRS has indicated it will allow reduced closing agreement amounts under its Voluntary Closing Agreement Program for issuers who implement written post- issuance compliance procedures. Our office has prepared a model policy which, if implemented and followed, will meet IRS requirements for post- issuance compliance. I strongly recommend that the City Council adopt this policy, and that it follow the adopted policy with regard to all of its tax - exempt bonds. If you have any questions about post- issuance compliance or the proposed policy, please do not hesitate to call me at (612) 337 -9231. 4104600 NMI CR100 -14 City of Corcoran, Minnesota POST - ISSUANCE COMPLIANCE PROCEDURE AND POLICY FOR TAX - EXEMPT GOVERNMENTAL BONDS Adopted September 13, 2012 410461v1 MNI CR100 -14 8f ii. Post - Issuance Compliance Procedure and Policy for Tax - Exempt Governmental Bonds The City of Corcoran, Minnesota (the "Issuer ") issues tax - exempt governmental bonds ( "TEBs ") to finance various public projects. As an issuer of TEBs, the Issuer is required by the terms of Sections 103 and 141 -150 of the Internal Revenue Code of 1986, as amended (the "Code "), and the Treasury Regulations promulgated thereunder (the "Treasury Regulations "), to take certain actions after the issuance of TEBs to ensure the continuing tax - exempt status of such bonds. In addition, Section 6001 of the Code and Section 1.6001 -1(a) of the Treasury Regulations impose record retention requirements on the Issuer with respect to its TEBs. This Post - Issuance Compliance Procedure and Policy for Tax - Exempt Governmental Bonds (the "Policy ") has been approved and adopted by the Issuer to ensure that the Issuer complies with its post- issuance compliance obligations under applicable provisions of the Code and Treasury Regulations. 1. Effective Date and Term. The effective date of this Policy is the date of approval by the City Council of the Issuer (September 13, 2012) and this Policy shall remain in effect until superseded or terminated by action of the City Council of the Issuer. 2. Responsible Parties. The City Administrator - Treasurer of the Issuer (the "Compliance Officer ") shall be the party primarily responsible for ensuring that the Issuer successfully carries out its post- issuance compliance requirements under applicable provisions of the Code and Treasury Regulations. The Compliance Officer will be assisted by the staff of the Issuer and other officials when appropriate. The Compliance Officer of the Issuer will also be assisted in carrying out post- issuance compliance requirements by the following organizations: (a) Bond Counsel (as of the date of approval of this Policy, bond counsel for the Issuer is Kennedy & Graven, Chartered); (b) Financial Advisor (as of the date of approval of this Policy, the financial advisor of the Issuer is Northland Securities, Inc.); (c) Paying Agent (the person, organization, or officer of the Issuer primarily responsible for providing paying agent services for the Issuer); and (d) Rebate Analyst (the organization primarily responsible for providing rebate analyst services for the Issuer). The Compliance Officer shall be responsible for assigning post- issuance compliance responsibilities to members of the Finance Department and other staff of the Issuer, Bond Counsel, Paying Agent, and Rebate Analyst. The Compliance Officer shall utilize such other professional service organizations as are necessary to ensure compliance with the post- issuance compliance requirements of the Issuer. The Compliance Officer shall provide training and educational resources to Issuer staff responsible for ensuring compliance with any portion of the post- issuance compliance requirements of this Policy. 3. Post - Issuance Compliance Actions. The Compliance Officer shall take the following post- issuance compliance actions or shall verify that the following post- issuance compliance actions have been taken on behalf of the Issuer with respect to each issue of TEBs: (a) The Compliance Officer shall prepare a transcript of principal documents (this action will be the primary responsibility of Bond Counsel). 4104610 MNICR100 -14 -I- (b) The Compliance Officer shall file with the Internal Revenue Service (the "IRS "), within the time limit imposed by Section 149(e) of the Code and applicable Treasury Regulations, an Information Return for Tax - Exempt Governmental Obligations, Form 8038 -G (this action will be the primary responsibility of Bond Counsel). (c) The Compliance Officer shall prepare an "allocation memorandum" for each issue of TEBs in accordance with the provisions of Treasury Regulations, Section 1.148- 6(d)(1), that accounts for the allocation of the proceeds of the tax - exempt bonds to expenditures not later than the earlier of- (i) eighteen (18) months after the later of (A) the date the expenditure is paid, or (B) the date the project, if any, that is financed by the tax - exempt bond issue is placed in service; or (ii) the date sixty (60) days after the earlier of (A) the fifth anniversary of the issue date of the tax - exempt bond issue, or (B) the date sixty (60) days after the retirement of the tax - exempt bond issue. Preparation of the allocation memorandum will be the primary responsibility of the Compliance Officer (in consultation with the Financial Advisor and Bond Counsel). (d) The Compliance Officer, in consultation with Bond Counsel, shall identify proceeds of TEBs that must be yield - restricted and shall monitor the investments of any yield - restricted funds to ensure that the yield on such investments does not exceed the yield to which such investments are restricted. (e) In consultation with Bond Counsel, the Compliance Officer shall determine whether the Issuer is subject to the rebate requirements of Section 148(f) of the Code with respect to each issue of TEBs. In consultation with Bond Counsel, the Compliance Officer shall determine, with respect to each issue of TEBs of the Issuer, whether the Issuer is eligible for any of the temporary periods for unrestricted investments and is eligible for any of the spending exceptions to the rebate requirements. The Compliance Officer shall contact the Rebate Analyst (and, if appropriate, Bond Counsel) prior to the fifth anniversary of the date of issuance of each issue of TEBs of the Issuer and each fifth anniversary thereafter to arrange for calculations of the rebate requirements with respect to such TEBs. If a rebate payment is required to be paid by the Issuer, the Compliance Officer shall prepare or cause to be prepared the Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate, Form 8038 -T, and submit such Form 8038 -T to the IRS with the required rebate payment. If the Issuer is authorized to recover a rebate payment previously paid, the Compliance Officer shall prepare or cause to be prepared the Request for Recovery of Overpayments Under Arbitrage Rebate Provisions, Form 8038 -R, with respect to such rebate recovery, and submit such Form 8038 -R to the IRS. 4. Procedures for Monitoring, Verification, and Inspections. The Compliance Officer shall institute such procedures as the Compliance Officer shall deem necessary and appropriate to monitor the use of the proceeds of TEBs issued by the Issuer, to verify that certain post- issuance compliance actions have been taken by the Issuer, and to provide for the inspection of the facilities financed with the proceeds of such bonds. At a minimum, the Compliance Officer shall establish the following procedures: (a) The Compliance Officer shall monitor the use of the proceeds of TEBs to: (i) ensure compliance with the expenditure and investment requirements under the temporary 4104610 MNI CR100 -14 -2- period provisions set forth in Treasury Regulations, Section 1.148 -2(e); (ii) ensure compliance with the safe harbor restrictions on the acquisition of investments set forth in Treasury Regulations, Section 1.148 -5(d); (iii) ensure that the investments of any yield - restricted funds do not exceed the yield to which such investments are restricted; and (iv) determine whether there has been compliance with the spend -down requirements under the spending exceptions to the rebate requirements set forth in Treasury Regulations, Section 1.148 -7. (b) The Compliance Officer shall monitor the use of all bond - financed facilities in order to: (i) determine whether private business uses of bond - financed facilities have exceeded the de minimis limits set forth in Section 141(b) of the Code as a result of leases and subleases, licenses, management contracts, research contracts, naming rights agreements, or other arrangements that provide special legal entitlements to nongovernmental persons; and (ii) determine whether private security or payments that exceed the de minimis limits set forth in Section 141(b) of the Code have been provided by nongovernmental persons with respect to such bond - financed facilities. The Compliance Officer shall provide training and educational resources to any Issuer staff who have the primary responsibility for the operation, maintenance, or inspection of bond - financed facilities with regard to the limitations on the private business use of bond - financed facilities and as to the limitations on the private security or payments with respect to bond - financed facilities. (c) The Compliance Officer shall undertake the following with respect to each outstanding issue of TEBs of the Issuer: (i) an annual review of the books and records maintained by the Issuer with respect to such bonds; and (ii) an annual physical inspection of the facilities financed with the proceeds of such bonds, conducted by the Compliance Officer with the assistance with any Issuer staff who have the primary responsibility for the operation, maintenance, or inspection of such bond - financed facilities. 5. Record Retention Requirements. The Compliance Officer shall collect and retain the following records with respect to each issue of TEBs of the Issuer and with respect to the facilities financed with the proceeds of such bonds: (i) audited financial statements of the Issuer; (ii) appraisals, demand surveys, or feasibility studies with respect to the facilities to be financed with the proceeds of such bonds; (iii) publications, brochures, and newspaper articles related to the bond financing; (iv) trustee or paying agent statements; (v) records of all investments and the gains (or losses) from such investments; (vi) paying agent or trustee statements regarding investments and investment earnings; (vii) reimbursement resolutions and expenditures reimbursed with the proceeds of such bonds; (viii) allocations of proceeds to expenditures (including costs of issuance) and the dates and amounts of such expenditures (including requisitions, draw schedules, draw requests, invoices, bills, and cancelled checks with respect to such expenditures); (ix) contracts entered into for the construction, renovation, or purchase of bond - financed facilities; (x) an asset list or schedule of all bond - financed depreciable property and any depreciation schedules with respect to such assets or property; (xi) records of the purchases and sales of bond - financed assets; (xii) private business uses of bond - financed facilities that arise subsequent to the date of issue through leases and subleases, licenses, management contracts, research contracts, naming rights agreements, or other arrangements that provide special legal entitlements to nongovernmental persons and copies of any such agreements or instruments; (xiii) arbitrage rebate reports and records of rebate and yield reduction payments; (xiv) resolutions or other actions taken by the governing body subsequent to the date of issue with respect to such bonds; (xv) formal elections authorized by the Code or Treasury Regulations that are taken with respect to such bonds; (xvi) relevant correspondence relating to such bonds; (xvii) documents related to guaranteed investment contracts or certificates of deposit, credit enhancement transactions, and financial derivatives entered into subsequent to the date of issue; (xviii) copies of all Form 8038 -Ts and Form 8038 -Rs filed with the IRS; and (xix) the transcript prepared with respect to such TEBs. 4104610 MNI CR100 -14 -3- The records collected by the Issuer shall be stored in any format deemed appropriate by the Compliance Officer and shall be retained for a period equal to the life of the TEBs with respect to which the records are collected (which shall include the life of any bonds issued to refund any portion of such TEBs or to refund any refunding bonds) plus three (3) years. 6. Remedies. In consultation with Bond Counsel, the Compliance Officer shall become acquainted with the remedial actions under Treasury Regulations, Section 1.141 -12, to be utilized in the event that private business use of bond - financed facilities exceeds the de minimis limits under Section 141(b)(1) of the Code. In consultation with Bond Counsel, the Compliance Officer shall become acquainted with the Tax Exempt Bonds Voluntary Closing Agreement Program described in Notice 2008 -31, 2008 -11 I.R.B. 592, to be utilized as a means for an issuer to correct any post- issuance infractions of the Code and Treasury Regulations with respect to outstanding tax - exempt bonds. 7. Continuing Disclosure Obligations. In addition to its post- issuance compliance requirements under applicable provisions of the Code and Treasury Regulations, the Issuer has agreed to provide continuing disclosure, such as annual financial information and material event notices, pursuant to a continuing disclosure certificate or similar document (the "Continuing Disclosure Document ") prepared by Bond Counsel and made a part of the transcript with respect to each issue of bonds of the Issuer that is subject to such continuing disclosure requirements. The Continuing Disclosure Documents are executed by the Issuer to assist the underwriters of the Issuer's bonds in meeting their obligations under Securities and Exchange Commission Regulation, 17 C.F.R. Section 240.15c2 -12, as in effect and interpreted from time to time ( "Rule 15c2 -12 "). The continuing disclosure obligations of the Issuer are governed by the Continuing Disclosure Documents and by the terms of Rule 15c2 -12. The Compliance Officer is primarily responsible for undertaking such continuing disclosure obligations and to monitor compliance with such obligations. 8. Other Post - Issuance Actions. If, in consultation with Bond Counsel, Financial Advisor, Paying Agent, Rebate Analyst, or the City Council, the Compliance Officer determines that any additional action not identified in this Policy must be taken by the Compliance Officer to ensure the continuing tax - exempt status of any issue of governmental bonds of the Issuer, the Compliance Officer shall take such action if the Compliance Officer has the authority to do so. If, after consultation with Bond Counsel, Financial Advisor, Paying Agent, Rebate Analyst, or the City Council, the Compliance Officer determines that this Policy must be amended or supplemented to ensure the continuing tax - exempt status of any issue of governmental bonds of the Issuer, the Compliance Officer shall recommend to the City Council that this Policy be so amended or supplemented. 9. Taxable Governmental Bonds. Most of the provisions of this Policy, other than the provisions of Section 7, are not applicable to governmental bonds the interest on which is includable in gross income for federal income tax purposes. On the other hand, if an issue of taxable governmental bonds is later refunded with the proceeds of an issue of tax - exempt governmental refunding bonds, then the uses of the proceeds of the taxable governmental bonds and the uses of the facilities financed with the proceeds of the taxable governmental bonds will be relevant to the tax - exempt status of the governmental refunding bonds. Therefore, if there is any reasonable possibility that an issue of taxable governmental bonds may be refunded, in whole or in part, with the proceeds of an issue of TEBs, then for purposes of this Policy, the Compliance Officer shall treat the issue of taxable governmental bonds as if such issue were an issue of TEBs and shall carry out and comply with the requirements of this Policy with respect to such taxable governmental bonds. The Compliance Officer shall seek the advice of Bond Counsel as to whether there is any reasonable possibility of issuing TEBs to refund an issue of taxable governmental bonds. 4104610 MNI CR100 -14 -4- City of Corcoran September 13, 2012 County of Hennepin State of Minnesota RESOLUTION NO. 2012 -49 8f.iii. RESOLUTION APPROVING POST - ISSUANCE COMPLIANCE PROCEDURE AND POLICY FOR TAX - EXEMPT GOVERNMENTAL BONDS BE IT RESOLVED By the City Council (the "Council') of the City of Corcoran, Minnesota (the "City ") as follows: Section 1. Recitals. 1.01. The City from time to time issues tax - exempt governmental bonds to finance various public projects. 1.02. Under Sections 103 and 140 to 150 of the Internal Revenue Code of 1986, as amended (the "Code ") and related regulations, the City is required to take certain actions after the issuance of such bonds to ensure that interest on those bonds remains tax- exempt. 1.03. The City has determined to adopt written procedures regarding how the City will carry out its bond compliance responsibilities, and to that end has caused to be prepared a document titled Post - Issuance Compliance Procedure and Policy for Tax - Exempt Governmental Bonds (the "Policy "). 1.04. The Council has reviewed the Policy has determined that it is in the best interest of the City to adopt the Policy. Section 2. Policy AWroved. 2.01. The Council approves the Policy in substantially the form on file in City Hall. 2.02. City staff are authorized to take all actions necessary to carry out the Policy. Approved by the City Council of the City of Corcoran, Minnesota, this 13th day of September, 2012. VOTING AYE ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn VOTING NAY ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn Whereupon, said Resolution is hereby declared adopted on this 13th day of September 2012. Kenneth Guenthner - Mayor ATTEST: City Seal Jeanie Heinecke — City Clerk 410462v1 MNI CR100 -14 City of Corcoran City Council Meeting Minutes August 23, 2012 - 7:00 PM 9b. The Corcoran City Council met on August 23, 2012, at City Hall in Corcoran, Minnesota. Present were, Mayor Guenthner, Councilor Asleson, Councilor Gmach, and Councilor Milbrandt. Also present were City Administrator Donahue, City Engineer Vander Top, Public Works Superintendent Meister, Lt. Hamilton, Public Safety Director Gormley and City Clerk Heinecke. Councilor Cossette was excused. Mayor Guenthner called the regular meeting to order at 7:00 pm. 1. Call to Order / Roll Call 2. Pledge of Allegiance 3. Agenda Approval MOTION: made by Milbrandt, seconded by Gmach to approve the agenda with the following additions. 5. Sara Wyatt- Presentation /Three Rivers Park Commissioner 4. Tim Kreps — Open Forum Voting Aye: Guenthner, Asleson, Gmach, and Milbrandt. (Motion carried 4:0). 4. Open Forum Tim Kreps 22956 Co Rd 50, Mr. Kreps purchased the property 6 months ago. The shared driveway agreement was not recorded at the time the property was platted. This is now causing a problem for several property owners. Mr. Kreps has met with Administrator Donahue and is now asking the council to help resolve the situation. Mayor Guenthner indicated the council has no authority in this matter and private remedies may be needed. 5. Presentations Sara Wyatt, Three Rivers Park Commissioner introduced herself and shared with council and audience her experience as a commissioner. She indicated with re- districting she will be running for election in the Corcoran district in November. 6. Planning Business -None 7. Engineering -None 8. Public Hearing -None 9. Consent Agenda a. Draft Minutes of August 9, 2012 Council Meeting b. Public Safety Records Management System MOTION: made by Milbrandt, seconded by Asleson to approve the consent agenda as presented. Voting Aye: Guenthner, Asleson, Gmach, and Milbrandt. (Motion carried 4:0). 10. Staff Reports/ Memos /Commissions a. Planning Project Status Memo received, no action taken b. Sewer and Water Project Weekly Meeting Report received, no action taken c. Code Enforcement Update received, no action taken 11. Unfinished Business a. Street Improvements report by City Engineer Vander Top. Council discussed the current street assessment policy and possible updates, no action taken. Engineer Vander Top reported to the council regarding the Trail Haven Rd., Foxline Dr., Treeline Dr. neighborhood meeting. Engineer Vander Top recommends hiring an appraiser to identify what a sustainable assessment may be. Staff to investigate other potential road projects. Based on City of Corcoran City Council Meeting Minutes August 23, 2012 - 7:00 PM 9b. current information the Trail Haven, Foxline, Treeline project is not likely to move forward in 2013. b. Draft 5 Year Finance Plan report and recommendations by Tammy Omdahl, Northland Securities. Council discussed the draft financial plan along with the impacts of a downtown sewer and water project. No action taken, discussion and approval will continue on September 13, 2012. c. Sewer and Water Project i. Decision on Assessing Benefiting Property Owners delayed until the city attorney is present. d. Public Works Facility, staff met with Ebert Construction regarding building costs and architect search. Council discussed, no action taken. MOTION: made by Gmach, seconded by Asleson to approve publication of a notice to revise the September 13, 2012 Public Hearing notice to a bond issuance not to exceed of $4,000,000. Voting Aye: Guenthner, Asleson, Gmach, and MilbrandV`%. " (Motion carried 4:0). e. 2013 Draft Budget received and discussed, no action taken. Preliminary Levy decision to be made at the September 13, 2012 meeting. 12. New Business a. Council Meeting Calendar for Remainder of Year MOTION: made by Asleson, seconded by Milbrandt to approve changes to city council meeting dates as follows: November 22, 2012 moved to November 29, 2012 December 27, 2012 moved to December 20, 2012 Voting Aye: Guenthner, Asleson, Gmach, and Milbrandt. (Motion carried 4:0). 13. Claims as Presented a. Escrow Claims (Fund #500) MOTION: made by Milbrandt, seconded by Gmach to approve escrow claims as presented. Voting Aye: Guenthner, Asleson, Gmach, and Milbrandt. (Motion carried 4:0). b. Building Inspections Claims MOTION: made by Milbrandt, seconded by Asleson to approve the building inspection claims as presented. Voting Aye: Guenthner, Asleson, Gmach, and Milbrandt. (Motion carried 4:0). c. All Other Claims As Presented MOTION: made by Milbrandt, seconded by Gmach to approve all other claims as presented. Voting Aye: Guenthner, Asleson, Gmach, and Milbrandt. (Motion carried 4:0). 14. Unscheduled Items -None 15. Closed Meeting -None 16. Review of Upcoming Council Meeting Agenda Fund Balance Policy 5 year Financial Plan Bond Public Hearing Preliminary Levy Approval MOTION: made by Asleson, seconded by Milbrandt to adjourn. City of Corcoran City Council Meeting Minutes August 23, 2012 - 7:00 PM •s Voting Aye: Guenthner, Asleson, Gmach, and Milbrandt. (Motion carried 4:0). Meeting adjourned at 9:37 pm Jeanie Heinecke, City Clerk Wei ck TO: Dan Donahue FROM: Kent Torve, P.E. DATE: August 28, 2012 SUBJECT: Sewer and Water Change Order No. 1 Council Action Requested Approve Change Order No. 1 in the amount of $2,642.52. 11 a i. = ' = =... Wenck Associates, Inc. 1800 Pioneer Creek Ctr. P.C. Box 249 Maple Plain, MN 55359 -0249 (763) 479 -4200 Fax(763)479 -4242 E -mail: wenckmp @wenck.com Background The sewer and water project is underway and crews as of the last week of August had completed up to Manhole No. 4. Ongoing activities include possibly starting the sewer boring under CR 10, and water main has not been started due to the pending agreement with Maple Grove. The attached change order clarifies the sewer pipe thickness at selected locations. Prices were substituted directly off the original bid sheet. SECTION 00540 CHANGE ORDER Change Order No. Date August 20, 2012 Agreement Date July 17, 2012 Name of Project: Corcoran Sewer and Water Utility Project Owner: Ci of Corcoran Contractor: SR Weidema The following changes are hereby made to the Contract Documents: Quantity adjustments have been made to more accurately reflect actual conditions for the site. A table has been prepared showing the difference in quantities and is attached. Justification: Original Contract Price: $ 1,070,184.30 ($102,870.00 contingent as of 8/16/12) Current Contract Price adjusted to previous Change Order: $ 1,070,184.30 The Contract Price due to this Change Order will be increased by $ 2,642.52 The new Contract Price including this Change Order will be $ 1,072,826.82 The Contract Time will be (increased) (decreased) by _ calendar days. The revised contract completion date for completion of all work will be Approvals Required: To be effective, this Order must be approved by the Owner and the Contractor if it changes the scope of objective of the work, or as may otherwise be required by the OWNER'S Supplemental General Conditions. Requested by: " 0 enton C. Torve, P.E., Corcoran City Engineer Ordered by: ty of Corcoran t Accepted by: c %V%?C1K-1 (Contractor) Original Contract — Required Completion Date Current Contract Completion Date adjusted to previous change order. Change Order TA2294- CorcoranU6 -Sewer and Watm-Planning M FDistrids yA7- Constructionlconstruction managmenAChange Order Ldoc Item Unit Quantity Unit Price Amount Quantity Amount Quantity Amount 15" PVC Sewer Pipe SDR 35, 0 -12' L.F. 1091 $ 28 30548 1119 31332 28 $ 784.00 15" PVC Sewer Pipe SDR 35, 12 -14' L.F. 828 $ 28 23184 232 6496 -596 $ (16,688.00) 15" PVC Sewer Pipe SDR 35, 14 -16' L.F. 781 $ 28 21868 194 5432 -587 $ (16,436.00) 15" PVC Sewer Pipe SDR 35, 16 -18' IL.F. 648 $ 28 18144 500 14000 -148 $ (4,144.00) 15" PVC Sewer Pipe SDR 26, 0 -12' L.F. $ 32.06 172 5514.32 172 $ 5,514.32 15" PVC Sewer Pipe SDR 26, 12 -14' L.F. $ 32.06 350 11221 350 $ 11,221.00 15" PVC Sewer Pipe SDR 26, 14 -16' L.F. $ 32.06 570 18274.2 570 $ 18,274.20 15" PVC Sewer Pipe SDR 26, 16 -18' L.F. $ 32.06 200 6412 200 $ 6,412.00 15" PVC Sewer Pipe SDR 26, 18 -20' L.F. 270 $ 32 8640 432 13824 162 $ 5,184.00 15" PVC Sewer Pipe SDR 26, 20 -22' L.F. 220 $ 36 7920 194 6984 -26 $ (936.00) 15" PVC Sewer Pipe SDR 26, 22 -24' L.F. 213 $ 55 11715 540 29700 327 $ 17,985.00 15" PVC Sewer Pipe SDR 26, 24 -26' L.F. 856 $ 64 54784 577 36928 -279 $ (17,856.00) 15" PVC Sewer Pipe SDR 26, 26 -28' L.F. 390 $ 64 24960 172 11008 -218 $ (13,952.00) 15" PVC Sewer Pipe SDR 26, 28 -30' L.F. 295 $ 64 18880 350 22400 55 $ 3,520.00 15" PVC Sewer Pipe SDR 26, 30 -32' L.F. 354 $ 64 22656 449 28736 95 $ 6,080.00 15" PVC Sewer Pipe SDR 26, 32 -34' L.F. 332 $ 64 21248 307 19648 -25 $ (1,600.00) 15" PVC Sewer Pipe SDR 26, 34 -36' L.F. 171 $ 80 13680 100 8000 -71 $ (5,680.00) 15" PVC Sewer Pipe SDR 26, 36 -38' L.F. 138 $ 80 11040 1 200 16000 62 $ 4,960.00 Change Order #1 $ 2,642.52 Original Contract Amount $ 1,070,184.30 New Contract Amount $ 1,072,826.82 Change Order 'r:i2294- Corcoranll0 -Sewer and Water Planning (TIF Districts )107- Constructionlconstruction managment \Change Order l,doc _..= _._..._.— Wenck TO: Dan Donahue, City Administrator FROM: Kent Torve, P.E. DATE: September 6, 2012 SUBJECT: Sewer and Water Change Order No. 2 Council Action. Requested Approve Change Order No. 2 to modify Notice to Proceed on water main. Wenck Associates, Inc. 9800 Pioneer Creek Ctr. P.O. Box 249 Maple Plain, MN 55359 -0249 (763) 479 -4200 Fox(763)479 -4242 E -mail: wenckmp@wenck.com Backp.round The sewer and water project is somewhat complicated, in there are three entities involved in paying for the construction and final ownership. • Metropolitan Council Environmental Services (MCES) will construct a lift station and own the sewer within the parcel on Schommer property and the forcemain into Maple Grove, • Corcoran will own and operate gravity sewer and water within Corcoran, (excluding the MCES lift station sewer), • Maple Grove is responsible for the water main within Maple Grove (excluding the water meter). The contract was setup for three separate Notice to Proceeds ; 1) Corcoran, 2) MCES and 3) Maple Grove. The General Contractor ( Weidema) is currently operating under the Corcoran and MCES portions of the contract and is requesting to start water main. Water Agreement The draft water agreement with Maple Grove is in the final editing by staff for both cities. The major modification is the financing of the $300,000 connection charge, which now includes "interest only" for the first five years and paying off the loan within 15 years from end of construction. This approach of " interest only" will extend the period for startup of the enterprise fund. Change Order No. 2 The attached Change Order will allow SR Weidema to install the water main on the Corcoran side of the border as the agreement is being finalized. SECTION 00540 CHANGE ORDER Change Order No. 2 Date September 6, 2012 Agreement Date July 17, 2012 Name of Project: Corcoran Sewer and Water Utility Project Owner: City of Corcoran Contractor: S.R. Weidema The following changes are hereby made to the Contract Documents: Authorize change in contract documents to execute a modified Notice to Proceed„ for the water main. Justification: The water agreement is expected to be authorized by two City Councils within a month to 6 weeks. Cost and Schedule Impacts There will be no change to the Contract Price or completion dates. Approvals Required: To be effective, this Order must be approved by the Owner and the Contractor if it changes the scope of objective of the work, or as may otherwise be required by the OWNER'S Supplemental General Conditions. r° Requested by: Kenton C. Torve, PA, Corcoran City ngineer Ordered by: Accepted by: City of Corcoran SR Weidema Change Order C:%Vsea jheinecko1AppData Snlanet Files+ Content .fhutJook\ACD7WANG�Change order 2 Fo m.doc TO: Dan Donahue FROM: Kent Torve, P.E. DATE: September 6, 2012 SUBJECT: Sewer and Water Pay Request No. 1 Council Action Requested Approve Pay Request No. 1 in the amount of $1.96,250.38. Wenck Associates, Inc. 1800 Pioneer Creek Ctr. P.O. Box 249 Maple Plain, MN 66369 -0249 (783) 479 -4200 Fax (763)479 -4242 E -mail: wenckmp@wenck.00m Backeround The sewer and water project is underway and as of the August 31" have completed gravity sewer installation up to Manhole No. 6 (approximately 1900 lineal feet of pipe). A second crew has been working on the MCES forcemain installation and as of this pay request has installed about 650 lineal feet of forcemain piping. Ongoing activities include possibly starting the sewer boring under CR 10, and water main has not been started due to the pending agreement with Maple Grove. The attached pay request displays the actual quantities SR Weidema is requesting payment for. PAYMENT REQUEST FORM OWNER: City of Corcoran PROJECT: Corcoran Sewer and Water Utility Project CONTRACTOR: SR Weidema: 17600 113''' Ave N, Maple Grove, MN 55369 PAY ESTIMATE NO. 1 Original Contract Amount ....................................................... ............................... $ 1,070184.30 Contract Changes approved to Date (Change Order 1) ........... ............................... $_ 2,642.00 Revised Contract Price ............................................................. ............................... $ I,072,826.82 Work Completed to Date (see attached) ........................ ............................... ..... $ 20S 579.35 Retainageto Date, 5% ............................................................. ............................... $ 10,328.97 Work Completed to Date Less Retainage to Date ................... ............................... $ 196,250.38 Total Amount Previously Certified .......................................... ............................... $ 0.00 Payment Request This Estimate .............................................. ............................... $ 196,250.38 CERTIFICATE OF CONTRACTOR I declare under penalty of penury that this account, claim, or demand is just and correct and that no part of it has been paid. I hereby certify that the work and the materials supplied to date, as shown on the request for payment, represents the actual value of accomplishment under the terms of the contract dated July 17, 201.2 between CITY OF CORCORAN (OWNER) and SR WEIDEMA (CONTRACTOR) and all authorized changes thereto. CONTRACTOR rJ —. Date (-Z Titler,n' Approval: WENCK ASSOCIATES, INC. Date , �._ _.... CITY OF CORCORAN Date OD530 -1 Payment Request Form M N � N y C :3 C31 a. 7 Q? ¢ N (n C crs o O U � V Y O `0 U 0 >t tU E Lt! (n C9 M !S3 C ua m z o as W � > p O o _ N try a o cr � Li' e� cr f� co a tII OOQ CQ 00n 0 O O CJ 000Q O nC70b C:) CD 0 O Cl OOOOC7 tD Q 000 (Db a (D cD ` ' n 6 O cc ;:1-t CD Cl) (D C) CD rr O r O U') C) Ot z^ N ib O t` r 'T (D er O cq N N N Cl) NCV '-t CV N 'r r CD tfJ tc'T CD tfj L.1 < a �ssv3�e�r��cst�ct�t�E»vae��r €91 141411,11,14611 -4 cA ua, Ea. U3.us . 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U) !q (n F } J z M r t() Nt`?toLD[`- tD LO in to t13 LO y C� MA QI W YJ cu O U L- 0 tD m �> CO) o A Q} O O CV T Q 0 h— O fl LL N N E w 0 P io a a N n 0 co P Nr cU cm m LL Cl' i o� CD M !l i Q ca a LU U fY_ B. f— D z Q iU w z a � r C. z a cn z a u w v CO 2 a a p w w U) D 0 ile! Lr- a. T F- U Q Q LU � n III P Nr cU cm m LL ADMINISTRATOR'S REPORT Agenda Item No. 11 b.i. Council Meeting: Prepared By: September 13, 2012 Dan Donahue, Administrator Topic: Action Required: Appointment of Architect for Public Works Approval Facility Project Policy: Budget Impact: $138,000, part of total development Summary: The Construction Manager (CM) Ebert Construction and the project team composed of the CM, city staff, and city engineer reviewed architect proposals for the project and recommends Oertel Architect at a cost of $138,000. The city council reviewed proposals from two architect firms, Oertel and DJ Medin, at the August 9, 2012 council meeting. The original proposal by Oertel was for $175,000. At this council meeting, the council asked the CM and staff to review the Request for Proposal for architectural services and to come back to the council with a recommendation on an architect. The CM re- interviewed these two firms and a third firm SEH during the past two weeks. At these meetings, the CM presented the latest information on the project and the proposed project financing based on the city council direction as of the August 27, 2012 council meeting. Based on a total budget of up to $4,000,000, the final proposals were received after this latest round of interviews: • DJ Medin $112,500 • Oertel $138,000 • SEH $158,000 The CM and the Project Committee recommends the city council appoint Oertel Architect for the PW Project. The recommendation is based upon: • Understanding of the scope of the project. This firm worked with the city in the Phase I concept for a PW Facility • Experience in developing Public Works Facilities. They have by far the most experience throughout Minnesota working with cities of all sizes in designing PW Facilities • In the opinion of the CM and the Project Committee, are best able to deliver the superior design and project detail of the three firms. Administrator's Report— Agenda Item 11b, September 13, 2012 Council Meeting Page 2 • Oertel lowered their cost for services from $175,000 to $138,000 (even after the overall project cost went up from $2.75 M to $4.0 M 23350 County Road 10 Corcoran, MN 55357 Ph : 763 - 498 -7844 EBERT CONSTRUCTION Meeting Minutes Job: 6619 Corcoran Public Works Facility Meeting: Preconstruction # 2 Location: County Road 19 &10 Date: 9/4/12 Corcoran, MN 55357 Start Time: 11:00:00AN Attendees Attended rv- Greg Ebert (Ebert Construction (Ebert Construction) r- Markus Ebert (Ebert Constructi (Ebert Construction) r Brenda Schultz (Ebert Construc %` Pat Meister(Public Works Rep) P Tom Cossette(City rep) [V Kent Torve (Wenck) r Dan Donahue (City Rep) h Bruce Ternes (Ebert PM) ('v Loren Kohnen (Metro West Inspection Service) r7 Roger Pietso (Metro West Inspe Item Description Responsible Due Date Closed Old Business 1 -1 Define Communications Network Order 8/17 Item #1 Communications need to be consistent in flow. Team to discuss the network order of communications. Below are typical sources of information. Ebert Construction Manager Public Works Representative Architect Civil Engineer Council Representative Local Authorities /Jurisdictions Owner Direct Contractors Project Contractors Other 8/17 Item #2 Project Requires a communications directory and network order as team members com on board. i.e. County Road Road 19 Work, Well and Septic contracts etc. 8/17 Item #3 Discussions: Bruce Ternes Project Manager is the primary contact for Ebert Construction. Dan Donahue , City Administrator is the primary contact for the City Reports to Bruce Ternes, Ebert Project Manager Pat Meister, Public Work Superintendent is the Public Works representative. (Reports to Dan Donahue) Kent Torey ( Wenck, City Engineer) reports to Dan Donahue Tom Cossette (City Council Representative) reports to Dan Donahue 8/17 Item 4. There will be communications between any team member at any time for any reason however action directives go to Dan and Bruce. 8/17 Item #5 Communications Directory will be issued and updated as required. f✓ 1 -2 Architect Selection I✓ 8/17 Item # 1 DJ Medine : City Council recommended; requested advise from Construction Manager Oertel : Ebert Construction recommends Oertel Architect based primarily on their experience in Page 1 of 5 Meeting Minutes Job: 6619 Corcoran Public Works Facility Meeting: Preconstruction # 2 Item Description Responsible Due Date Closed designing function, knowledge of code implications, and detail of drawings and specifications, as well as curb appeal of a building. 8/17 Item #2 Discussion concluded that upon further review of preliminary design and budget constraints Ebert Construction will recommend an Architect August 31 st so that the architect chosen will best fit the forthcoming proposed design. 1 -3 Confirm and Define Total Budget it 8/17 Bond Proposal indicates $2,750,000 total cost. 8/17 Item #1 Define inclusions: Does this include land purchase, furnishings, etc. 8/17 Item #2 Discussion: $2,700.000 includes land purchase, equipment, and furnishings 8/17 Item #3 A. Discussion 8/17 : a final proposed budget may exclude the land purchase from the project cost will further review when other unknown cost have a budget value. B. Discussion 8/17 : Ebert will have a budget of know fixed costs by 8/21/12 and report this cost so that the council can discuss if the budget requires a revised value. 1-4 Define City Direct Costs and Provide Budget / Review Typical Budget Spread Sheet 8/17 Item #1 below are assumed costs for consideration to back out of the actual cost of the building shell and finishes in order to establish a base line budget for the actual building. 1. Land Purchase 2. County Road 19 Turn Lane 3. Construction Management Fee 4. Architect Fee 5. Civil Engineering Fee 6. Structural Engineering Fee 7. Septic System Design and Installation 7.1. Well design and Installation 8. Electrical Service to Building 9. Natural Gas Service to Building 10. Phone Service to Building 11. Cable Service to Building 12.1-ocal Authority Plan Review Fees 13. State Plumbing Review Fees 14. MPCA Fees 15. Permit Fees 16. Inspection and regulation Fees 17. Structural Testing /Special Inspection fees 18. Builders risk Insurance/ Errors and omissions insurance 19. Electrical use Charge 20. Temporary Heat (If Winter Construction) 21. Trash removal 22. Speaker /Intercom Systems 23. Phones Communications Devices 24. Furnishings 25. Equipment 26. Demo Existing facility 8/17 Item #2 Discussions: A. The assumed costs will be completed and submitted to the City for review August 21 st. B. Electrical Service shall include 3 phase service. C. The well design and installation budget will not indicate cost of storage tank. D. City requests to add a line item for winter construction cost as the desire is to begin site work in October and construction in November E. The furnishing should consider two offices and a lunch room /conference room F. City to provide Ebert with Speaker /intercom budget value G. Fuel storage will be relocated; associated provisions will be included in a bid package. H. A line item for contingency shall be $100,000 Page 2 of 5 Meeting Minutes Job: 6619 Corcoran Public Works Facility Meeting: Preconstruction # 2 Item Description Responsible Due Date Closed 1 -5 Review Albertville and Rockford Public Works i✓ Facility drawings. 8/17 Item #1 Albertville: $1,700,000 built in 2004 (Square footage is approximates) 14,000 sqft vehicle /equipment storage (includes 1468 sqft mezzanine 2700 sqft vehicle /equipment repair (welding) 200 sqft Hazmat Storage 1225 sqft Office Area 16,725 sqft Total Rockford $2,300,000 built in 2007 (Square footages are approximates) 15000 sqft vehicle /equipment storage /Mezzanine 3,200 sqft vehicle /equipment repair(welding) 3,800 Office Area 22,000 Sqft Total 8/17 Item #2 Discussions: A. Bruce and Pat will tour existing surrounding facilities to help identify what works and what does not work to provide additional design parameters B. Consensus is precast type up walls are superior for long term and sustainable construction, caution the public view of precast rather than pre engineered metal building. However public should consider, salt, humidity and large heavy equipment that is integral to a functioning pubic work is not a best fit for pre engineered metal buildings. C. The team acknowledges that pre engineered metal may not be off the shelf. D. Minimum space for the vehicle storage space appears to be 10,000 sqft. It would be full the 1 st day of operations, Welding area suggested to be 4000 sqft, office area suggests 2000 sqft. 1 -6 Other F- 8117 Item #1 8/17 Time frames for action items: A. 8/20 Bruce and Pat meet at Ebert Office at 11:00 to review surrounding public works B. 8/21 Preliminary owner costs established and spread sheet submitted. C. 8/24 Foot Print of building usage submitted to the City D. 8/31 Architect Selection 8/17 Item #2 A. Dan to open additional communications with Three Rivers Park District to possible provide funds for parking and restroom 8/17 Item #3 A. Wash Bay thought is precast lid and be 30 X 50 to be useful and is believed to be a phase 1 requirement. 8/17 Item #3 A. Ebert to open discussion with local jurisdiction regarding the partial fire protect of the building to reduce cost. 8/17 Item #4 Final determination of bond value prior to 9/13 is desired. New Business 2 -1 CM Architect Recommendation C 9/4 Architects interviewed at Ebert Office week of 8/20, Cost proposal revised and submitted to Ebert on or before 8/31/12 1, DJ Medine 2. Oertel - Ebert Construction Recommended Oertel. (OCM Committee approved the recommendation and will present recommendation to the Council for approval. Page 3 of 5 Meeting Minutes Job: 6619 Corcoran Public Works Facility Meeting: Preconstruction # 2 Item Description Responsible Due Date Closed 3. SEH 9/4 Ebert suggest to clearly confirm the scope of the Architectural Services. Attached is the CM assumption of the Schedule of Designated Services Required for the project. The project cost proposals are based on the assumption of a 19,000 square foot concrete tilt up walls, steel bar joists and EPDM roofing system. 2 -2 Site Work r- 9/4 Define when ownership and closing is for the land purchase so that topographical surveying can be completed. 1. Land Purchase is to close approximately 9/27/12 2. Existing topography drawings were completed by Landform. The existing Landform topography will be used by the Civil engineer as part of the Architects Team. A. What date is set for the land closing and available for survey and possible additional soil borings? 1. The land sale is to close approx. 9/27. Ebert recommends that at least 8 additional borings are required. The owner is responsible for the cost of the additional borings. B. Is Landform performing the existing construction topographic (not an aerial). 1. Landform confirmed that they performed the existing topography survey for the owner. 2 -3 Foot of the building /Exterior Shell t- 9/4 The building foot print and the exterior shell needs to be determined. 1. Is the basic foot print square footage that Ebert provided acceptable and can this square footage be approved by the City. A. Ebert stated the concept drawing Ebert provided indicates a square footage based on budget constraint. B. Tom states that the square footage is not adequate and provided drawings from Ostego and Dayton. Ostego is 12,620 square feet more tha the budget based square footage. C. Ebert Concept drawing is overlaid over a topography map provided after the concept drawing was made and it appears the topography of the land will constraint the building directional layout where as the building primarily will run North to South. D. The OCM committee will address additional square footage through bid alternates by adding 8' to 16' the vehicle storage. E. Ebert noted that the (1) conceptual foot print and (1) final foot print will be generated by the architect and it is important to get their input into the layout. Ebert cautioned that it is important for the committee to agree on general starting square footage, and directional layout and direct the architect to provide the draft layout for review and minor tweaks for the final lay out.. 2. What is the exterior shell? Tilt up precast concrete or pre engineered. Ebert has determined a possible savings of between $200,000 and $250,000 building a pre engineered metal building. Ebert also suggest that a precast tilt up construction has a greater life span and less maintenance of the exterior shell and is also much more of a durable construction method. 1. OCM committee agreed that the building exterior shell will be concrete tilt up walls. 2 -4 Fire Suppression r- 9/4 Update on fire suppression requirement A. Define what the code states 1. Loren and Roger attended the meeting not as officials but as Corcoran Citizens but did indicate that the building could be built if the square footage did not exceed 46,000 sqft and slightly more if fire separation walls were constructed. B. Recommendation for fire suppression. 1. The OCM committee will direct the architect to design the building following code. If code allows construction with out fire suppression than it will be designed accordingly. Page 4 of 5 Meeting Minutes Job: 6619 Corcoran Public Works Facility Meeting: Preconstruction # 2 Item Description Responsible Due Date Closed 2 -5 Contracts r 9/4 Contracts required to be executed for further progress A. Construction Manager 1. Ebert offered assistance if the City Requests. Ebert offered sample of AIA 132 in the 8/17 OCM meeting. 2. Ebert offered the web site www.AIA documents.com as a source for the contract document. 3. Ebert suggested that additional work is limited without an executed contract. B. Architect. 1. Ebert stated that the architect's contract will also need to be ready to issue after council approves an architect. The contract will be required to be executed prior to the architect doing any work for the project. 2 -6 Water Shed Permitting I- 9/4 Water Shed Permit/ MPCA permit A. Site plan needs to be complete prior to Watershed permit. 1. Ebert stated that the civil work of the project is primary concern for any site work to be completed this fall. The architect's civil engineer will work with the watershed jurisdiction. 2 -7 Action Items 1. Select the Architect ( Recommentd Oertel in the next council meetnig) 2. Execute the contracts with the CM and the Architect (As soon as possible) 3. Approve square footage and basic foot print of the building (Try to determine by 9/7 but may be difficult) 4. Approve the exterior /structural construction (Concrete Tip up walls) 5. Close the land purchase (9/27/12) 6. Obtain existing topographical Survey (Landform Provided) 7. Coordinate the Civil Drawings, Well Design, and Septic Design in order to complete the civil drawings. 8 .Coordinate Civil drawings with the Watershed jurisdiction to obtain permit. 9. Complete the Civil Drawings including septic and well design in order to create a bid document for the site work preparation. 10 Confirm power access to the site, gas to the site. (gas is currently in at highway 10. does not run on 19. 11. Possible expedite may be to develop the bar joist specifications and precast specifications so they do not lag the shell design phase. 2 -8 Other 9/4 Next meeting at 11:00:OOAM on Wednesday, September 19, 2012. The preceding is assumed to be a complete and correct account of the items discussed, directions given, and conclusions drawn, unless this office is notified to the contrary by the next regular meeting. If no notification is received, these minutes will be deemed an accurate account of the meeting. Prepared by: Copy To: Page 5 of 5 ( i) E=17 i CONSTRUCTI N 23350 County Road 10 Corcoran, MN 55357 -9775 763.498.7844 Phone 763.498.9951 Fax SCHEMATIC DESIGN PHASE PROJECT ADMINISTRATION X DEVELOP SCHEMATIC DESIGN X TWO DESIGN MEETINGS WITH CITY FOR INPUT INTERIOR SCHEMATIC DESIGN (Furniture) LANDSCAPE SCHEMATIC DESIGN COMMUNICATIONS DESIGN REVIEW W /CITY 1 MEETING COST ESTIMATE MODEL /RENDERING ICITY APPROVAL DESIGN DEVELOPMENT PHASE X To include site plan, code review,floor plan and exterior elevations X X Additional meetings at an hourly rate Not Included Rough in for phone /data only X X — X X Not Included Sign off by City Representitive prior to moving to the next phase SEPTIC DESIGN I Owner Coordinate with Arch/ and CM WELL DESIGN _X X Owner Coordinate with Arch/ and CM TURN LANE X Owner Coordinate with Arch/ and CM SOIL BORINGS /GEO REP_ ORT X Architect provide Documents to be submitted to State and Local ALL PERMITS ALL CODE REVIEWS PROJECT ADMINISTRATION ONE DESIGN MEETING WITH CITY ARCHITECTURAL SYSTEMS DEVELOPMENT STRUCTURALSYSTEMS DEVELOPMENT Jurisdication. CM to apply for permits, X X Owner to Pay for Permits X X X X Additional Meeting at an hourly rate Site Plan, floor plan,exterior elevations, interior elevations, building sections, details of construction FIRE SUPPRESSION DESIGN Design not included, however, Architect to determine minimum requirement and make recommendation for owner approval. PLUMBING SYSTEMS __ DEVELOPMENT X HVAC SYSTEMS DEVELOPMENT X ELECTRICAL SYSTEMS DEVELOPMENT X CIVIL SYSTEMS DEVELOPMENT X LANDSCAPE SYSTEMS DEVELOPMENT X INTERIOR SYSTEMS DEVELOPMENT (Owner Furniture) Not Included Rough in requirements for phone data COMMUNICATIONS X only. OUTLINE SPECIFICATIONS X MATERIALS SELECTION X COST ESTIMATE X Sign off by the City prior to moving to the CITY APPROVAL X next phase. CONSTRUCTION DOCUMENT PHASE PROJECT ADMINISTRATION X TWO DESIGN MEETINGS WITH CITY X X X ARCHITECTURAL BIDDING DOCUMENTS X STRUCTURAL BIDDING DOCUMENTS X PLUMBING BIDDING DOCUMENTS X HVAC BIDDING DOCUMENTS X ELECTRICAL BIDDING DOCUMENTS X CIVIL BIDDING DOCUMENTS X Not Include. Pending minimum coded FIRE SUPPRESSION requirement analysis by Archtect. LANDSCAPE BIDDING DOCUMENTS X INTERIOR BIDDING DOCUMENTS COMMUNICATIONS DESIGN _ _ _ Includes rough info phone /data only Technical Sections by Arch /Eng. Front SPECIFICATIONS X X End by CM MATERIALS SELECTION X FINAL COST ESTIMATE X FINAL OWNER REVIEW X X X REGULATORY REVIEW /APPROVAL X X REPRO_ DUCTIONS X Sign Off by City representitive prior to CITY APPROVAL I � X i moving to the next phase BIDDING & NEGOTIATIONS PHASE PROJECT ADMINISTRATION _ ELECTRONIC BIDDING MATERIALS PREPARATION INVITATIONS TO BID _ ADVERTISEMENTS FOR BID PREPARATION QUESTIONS FROM BIDDERS ADDENDA PRE -BID MEETING BID OPENING BIDDING /NEGOTIATIONS X ANALYSIS OF ALTERNATES /SUBSTITUTIONS BID EVALUATION /RECOMMENDATION CONTRACT ADMINISTRATION PHASE — F CONSTRUCTION MEETING PROJECT ADMINISTRATION SHOP DRAWINGS REVIEW /APPROVAL CHANGE ORDERS PAYMENT REQUEST REVIEW ONSITE INSPECTIONS 1 FINAL PUNCHLIST INSPECTION PROJECT SCHEDULE MONITORING PROJECT CLOSEOUT RECORD DRAWINGS WARRANTY REVIEWS START -UP ASSISTANCE COORDINATION OF UTILITY SERVICES X X X X X Provided by Arch, distributed by CM X X Bidders address questions to CM. CM will provide written questions to Arch /Eng. Arch /Eng will answer questions and CM will distribute answers X to all bidders. X Prepared by Arch. Distibuted by CM Attended by Arch. Organized and X documented by CM. X X X X X X X X X X X X X - - -- X X X Arch /eng will review for quality of product. CM to review for cost. Attended by Arch.Eng organized and documented by CM. (2) PER MONTH) CM will review and stamp then forward to Arch /Ena for review. Civil, Architect, Structural, M & E Engineering ADMINISTRATOR'S REPORT Agenda Item No. 11c. & d. Council Meeting: Prepared By: September 13, 2012 Dan Donahue, Administrator Topic: Action Required: Five Year Finance Plan Approve Fund Balance Policy Policy: Establish long term financial guidelines for capital improvements, fund surpluses, and property tax levies Budget Impact: Establishes the assumptions on which future budgets will be based Summary: The city council has been working on the development of a long range finance plan for the city. This plan will guide the city on budgeting practices, spending, debt accumulation, capital improvements, fund reserves, and property tax levies for the next five years and beyond. The plan is also needed at this time for the anticipated sale of up to $4.0 million in bonding for the development of a Public Works Facility; and for the sale of $435,000 in bonding for capital equipment purchases. The Five Year Finance Plan is a very detailed presentation of what the city wants to do over the next five years and how it financially can be achieved. This is the first time in Corcoran's history that such an analysis has been undertaken for the purpose of guiding the cities long term financial health; and what it needs to do to maintain the solid financial health they seek to achieve. The plan's intent is to also provide information to the Corcoran property owners and citizens of what they can expect as to the financial support they must bare such as property tax levies in order to achieve the Five Year Plan's goals. For example, one goal in the plan is to keep property taxes to less than a 3% yearly increase. Even with the taking on of new debt to support the bonding for equipment and facilities; and the increasing of the General Fund surplus to a minimum of 35 %, property taxes will be kept to 3% or less. Information The Five Year Finance Plan as presented in this agenda packet is coordinated and in sync with: • The anticipated sale of bonds to finance the Public Works Facility and the Certificates of Indebtedness to finance capital equipment • The recommended adoption of a Fund Balance Policy • The Draft 2013 Budget as presented at this council meeting Administrator's Report— Agenda Item 11c & d, September 13, 2012 Council Meeting Page 2 • Debt service on new and old liabilities from 2013 thru 2017 • City council decisions to date on capital projects (i.e. street improvements, additional sewer /water projects, etc.) The council is asked to review the Five Year Finance Plan in detail. There is a lot of detail to go through but I call to your attention in particular pages 9 and 10. This lays out goals and key assumptions. It is these assumptions and goals on which the 2013 Budget is based. A point not readily apparent but which the council gave direction at the August 27, 2012 council meeting is the option of a Downtown Sewer /Water project. The Five Year Plan in this agenda packet assumes that there will be a project and that it will be funded on a 70/30 basis (property owners paying 70% of cost and the city paying 30% of costs). If the project is not undertaken, then there will be more TIF Funds turned back to the city and the city will realize its goal of reaching a 35% surplus a year sooner (2016). Regarding the downtown sewer project, take a look at page 26 of the Plan. This is the summary page and gets down to the property tax impacts. The net increase in property tax in 2013 from 2012 is proposed at $137,890. Looking across the line titled Net Spread Levy; you can see the estimated property taxes by year. 2014 is and has been singled out as the big jump in property taxes. After that, the city can settle in to property taxes hovering around a 3% annual increase. If the downtown sewer project does not happen, we will have more TIF turn back dollars and a lower property tax levy. Again on page 26, look at the line titled Net Tax Capacity. The estimated net tax capacity for 2013 is $6,536,742. 1 believe this is too high and I need to re -check this figure. I am having trouble getting accurate figures about the market values of properties for Pay 2013. Bottom line is that the tax rate goes up if tax capacity goes down. That is not all bad (if your home market value also goes down) but it does make it difficult to get to a bottom line -what does the resident actually pay in property taxes? I will discuss with my sources this coming week and will have a presentation on this point at the council meeting when you are considering the Preliminary Property Tax Levy for 2013 Another point in the plan is the impact of the Water Agreement with Maple Grove. The council has discussed but not yet approved the agreement. Staff is assuming that the agreement will be based on a 15 year payoff of the $300,000 fee to Maple Grove at a rate of 5.5 %. The first five years will be an interest only charge ($8,250) with years 6 thru 15 a charge of interest and principal ($19,702). The city can pay off the remaining principal at any time. The council is asked to approve the Five Year Finance Plan at this meeting. It is imperative that you do so if you have passed the bond issuance resolutions in this agenda (2012 -46 thru 2012 -49). The sale of the bonds states that there is an approved Finance Plan Administrator's Report— Agenda Item 11c & d, September 13, 2012 Council Meeting Page 3 The last piece of the bond issuance process involves the need for a policy on Fund Balance /Net Assets. This is also called out as approved by the council in the bond sale narrative. The policy states that the city will carry certain minimums in its General Fund, Capital Funds, and Enterprise Funds. Again, if you have authorized the sale of the bonds, you must pass this policy. City of Corcoran Multi -Year Financial Management Plan Report Adopted by City Council , 2012 NORTHLAND STRATEGIES ` Special Projects Group Contents Letter of Transmittal Executive Summary 1 Organizationof Report ............................................................................................. ............................... 1 StudyApproach ........................................................................................................... ............................... 2 Usingthe Report .......................................................................................................... ..............................2 Conclusionsfrom Study ............................................................................................ ............................... 2 Recommendations..................................................................................................... ............................... 3 Background 4 Summary........................................................................................................................ ............................... 4 Capital Improvement Plan 5 Overviewof Plan .......................................................................................................... ..............................5 Sourceof Funding ....................................................................................................... ..............................6 DebtService ................................................................................................................... ..............................6 Summary of Capital Improvement Plan .............................................................. ..............................7 DebtService Estimates .............................................................................................. ..............................8 Financial Plans 9 Background................................................................................................................... ............................... 9 Key Factors ( Assumptions) ....................................................................................... ............................... 9 AllCity Funds Combined .......................................................................................... .............................11 General Fund Financial Plan .................................................................................... .............................13 Tax Increment Fund Financial Plan ....................................................................... .............................15 Debt Service Funds Financial Plan ........................................................................ .............................17 Special Revenue Funds Financial Plan ................................................................. .............................19 Utilities Fund Financial Plan .................................................................................... .............................21 Capital Projects Funds Financial Plan .................................................................. .............................23 Property Tax Levy Projections Report .................................................................. .............................25 Appendix 27 Graph - All City Funds, Total Source and Use of Funds .................................. .............................27 Graph - General Fund, Total Source and Use of Funds ................................. .............................28 Graph - Projected Annual % Change in Property Tax Levy and Tax Rate ............................29 Graph - Projected Future Fund Balance Compared to Minimum ............. .............................30 Preliminary Utility Fee and Charges Schedule (Not Adopted) ................... .............................31 NORTHLAND September 13, 2012 Daniel J. Donahue City Administrator City of Corcoran, MN 8200 Co. Rd. 116 Corcoran, MN 55340 RE: Financial Planning Report Dear Daniel: SECURITIES Northland Securities, Inc. was hired to provide the City with financial planning services for determination of cash flow /fund balance reserve management. Services include performing a multi- year review and future year financial projections for each of the City of Corcoran's funds. The analysis and final report includes a review of the past performance of the City's funds, determines the adequacy of current revenues, and provides recommendation on future revenue levels that will be necessary given recent and projected cost experience in addition to anticipated capital project expenditures. We appreciate the opportunity to work with the City. Sincerely, ,)"C,L� Tammy Omdal Manager of Northland Strategies /Senior Vice President 45 South T11 Street, Suite 2000, Minneapolis, MN 55402 Main: (612) 851 -5900 / Direct: (612) 851 4992 / Email: rfifield @northlandsecurities.com Member FINRA and SIPC EXECUTIVE SUMMARY This report serves as a guide for the onancial manage- ment of the City's cash and fund balances. The report contains management strategies and identiocation of key factors (assumptions) that will impact the City's @- nancial performance. The report includes information on the level of estimated property tax levy that will be needed to provide adequate revenue to fund city ser- vices and capital improvement plans and debt service as included in the report. Future Council actions will impact the key assumptions that were used to develop the onancial plans included in the report. The onancial plans that are included in this report provide projections of sources and uses of funds and impact on cash and fund balances. Current spending levels and operating revenues, future capital plans and estimates for debt service, and estimates for future utility operating costs and rate structure, provides the basis for anancial projections included in the report. The City has not taken official action yet to approve an ordinance for the creation of a utility fund and estab- lishment of the utility fees and charges. Information included in this report for the utility fund and utility fees and charges is based on and consistent with in- formation previously presented and reviewed by the City. Organization of Report The report is organized into ave sections: 1. Executive Summary provides information on the organization of the report, study approach, using the report, and conclusions and recommendations. 2. Background discusses the historical context and onancial decisions facing the City. Information is provided on key development and redevelopment factors that will have an impact on the assump- tions used to model and project future onancial performance. 3. Capital Improvement Plan and Debt Service Study provides information on the City's identioed plans for vehicle, equipment, and facilities acquisition, street maintenance and improvement, and water and sanitary sewer improvements. This includes estimates on project costs and sources of funds to pay for the improvements. Information on debt service is also included. 4. Information on the key factors (assumptions) which the report is based upon are provided in the Financial 5 Plans section of the report. Financial Plans are provided for the each of the City's existing funds (consolidated by fund type) and for the future anticipated utility (water and sanitary sewer) fund. The plans provide both his- torical, current, and future projected sources and uses of funds. Financial plans take into account current levels of service and revenues and future capital improvement plans. A112endix provides charts of data taken from the onancial plans and information on fund balance levels. In addition a schedule of preliminary util- ity fees and charges used to develop the charges Executive Summary 1 for services revenue shown in the Utility Fund Fi- management of the City. Much of the information in nancial Plan is included as an Appendix to this re- port. This schedule of utility fees and charges has not been adopted by the City Council. Study Approach This report was prepared by Northland Securities. The following steps were taken as part of the study process: • City provided information on historical spending and revenues, capital improvement plans, and pri- or years budget information. • Information provided by the City was organized, analyzed, and used to support the development of onancial plans. • Once the initial anancial plans were developed then multiple scenarios or options were considered and analyzed to determine impact on property tax levy. This included analysis of debt structuring. • City staff offered preliminary input and feedback on the assumptions and desired outcomes. • City Council provided anal direction on assump- tions to include in a onal draft of the report. It is also important to note aspects of onancial perfor- mance not reviewed as part of this study: • Analysis of the impact of the projected property tax levy amounts on various property types. • Analysis of the sewer and water fees and charges in comparison to other cities. Using the Report This report is intended to be a practical guide for city staff and the City Council on the on -going anancial this report has enduring value and will serve to con- tinue to guide management decisions over a number of years. However, management of city funds is a dynamic system. Property tax law, property values, utility customer base, statutes and rules changes, ac- tual cost of labor and materials and supplies will all vary from year to year impacting the assumptions in the report. This report should be the foundation of an annual review and management plan update. Conclusions from Study The following conclusions were identioed as a result of this study: 1. After year 2013, the City will no longer be able to rely on available tax increment funds to pro- vide temporary cash flow for the City. The City's tax increment onancing district will end in 2013. The City will need to plan for other sources of rev- enue, including revenue from increasing property tax levy (offset by growth in tax base), utility fees and charges, to support its cash flow needs long term. Overall cash balance for the City is esti- mated to decline by about 50- percent over the next two years as the cash balance in the Tax Increment Fund is spent down and excess increment, if any, is returned to Hennepin County for redistribution to the local taxing jurisdictions. Projections indi- cate, given certain key assumptions outlined in the report along with active daily cash management, that the City will be able to maintain sufficient cash flow in both the short and long term to meet its cash flow requirements. 2. Future tax levy and utility rate increases will be necessary for the City to maintain adequate cash Executive Summary 2 3. balances across all City funds. The City has plans for capital infrastructure maintenance and im- provements that will require increased source of revenue to fund. The City will need to increase its combined property tax levy by no less than 3 percent annually over the next eve years. This increase in property tax levy will be offset by an approximate 4 percent increase in the City's gen- eral (gross) tax base after the decertiocation of the City's tax increment onancing district in 2013. Future development within the City is anticipat- ed to bring new (increased) revenue to an antici- pated utility (water and sanitary sewer) fund from the collection of anticipated future development (availability and connection) fees. Future develop- ment will also provide additional property value to the City and potential for additional property tax revenue to pay for services. The rate of future development and addition of customers is a sig- niacant variable for long term anancial planning. Recommendations The following overall management strategies are rec- ommended: 1. The City should maintain a minimum cash bal- ance in the General Fund and other City funds that provides sufficient cash flow to avoid the need for short term borrowing. The anancial plans in- cluded in this report are based on a maintaining a minimum fund balance equivalent to 35 percent of operating expenditure (use of funds) for the General Fund. This minimum is on the low end of minimum fund balance for the General Fund, as suggested by the Minnesota State Auditor. At this minimum level, the City will meet cash flow requirements. However, fund balance, as project- ed, will not be at a sufficient level to cover unan- ticipated events that may arise. A minimum fund balance of three months operating cash is recom- mended for the Utility Fund. For the other City funds the onancial plans included in this report reflect maintaining the sufficient positive balances. 2. The City should adopt a formal policy concern- ing minimum fund balance goals for the General Fund and other City funds as planned. Adoption of a policy will provide management guidance to City staff in preparing future budget recommen- dations and the annual updating of the onancial plans included in this report. The City has taken positive steps for establishing such a policy. 3. In addition to the recommended minimum cash balances, long term the City should strive to maintain adequate cash to pay for annual ongo- ing capital acquisition and maintenance to avoid the need to borrow and incur interest expense for these annual costs. The Capital Improvement Plan (CIP) included in this report assumes the City will continue to issue equipment certiocates for annual vehicle, equipment, and facilities needs. An alter- native recommended management strategy is to plan for incremental increases in the property tax levy to support pay -as- you -go funding over the long term as existing debt is retired. This strategy is not reflected in the anancial plans included in this report but is offered as a recommendation for future planning purposes. Executive Summary II-JAG :L1*111►UC The City of Corcoran, which is located on the western eastern edge of the Twin Cities metropolitan area. The City's 2030 Comprehensive Plan reports an estimated 2010 population of around 5,800 and 1,900 house- holds. Population is estimated to increase to 8,600 by 2020 and households to 2,900. These agures in- clude the urban service areas only, recognizing overall growth across the City could be greater. The land area for the City encompasses just under 36 square miles. Commercial and industrial development in the City is limited, primarily due to the lack of municipal water and sewer services and the absence of major transport corridors. The City of Corcoran currently does not own and operate trunk sanitary sewer facilities and has no existing connections to the metropolitan dis- posal system (MDS). This is changing in 2012, with construction underway to install the infrastructure ca- pacity for municipal water and sanitary sewer services to the City; this will include connection to the MDS. The City's development plan for its downtown area provides an opportunity for additional economic de- velopment. A onancial planning consideration for the City is whether, and if so to what extent, to provide public funding to assist with paying the cost of bring- ing municipal water and sewer services to the down- town area. (This is not part of the project currently under construction.) The decision on whether to par- ticipate onancially, and if so to what extent, will have a onancial impact for the City and its long term onancial plans. Proceeding with the downtown utilities proj- ect will require a commitment of city resources that otherwise would be available for other city purposes, including possibly an offset to future property tax levy increases. Authority exists to use available tax increment reve- nues to fund a portion of the downtown improvement project. Consideration has also been given to the use of special assessment authority to onance a portion of the project costs. The report is based on one scenario or option for fund- ing utility improvements to the downtown area. The report assumes the City proceeds with a downtown project and determines to assess beneeting property owners 70 percent of the project costs. It is assumed in the report that the City will pay the remaining 30 percent from available tax increment revenue. The City has not made a onal determination on whether to proceed with a project to bring municipal sewer and water to the downtown area. The scenario included in the report provides the City with a "benchmark" for making a onal decision. Background 4 CAPITAL IMPROVEMENT PLAN AND DEBT SERVICE STUDY The City annually reviews its capital vehicle, equip- ment, facilities, and improvement project needs and prepares a multi -year plan. The Capital Improvement Plan (CIP) provides details on costs by year and pro- posed funding sources. The debt service study pro- vides information on current debt service and future estimated debt service based on the CIP. The information available on plans for future capital acquisition and improvements provided an important input into preparing the onancial plans included in this report. The onancial plans are inclusive of all sources and uses of funds, both operating and non - operating. The Table on the next page provides a summary of the City's capital acquisition and improvement plans. Overview of Plan The majority of the on -going costs included in the CIP are for on -going annual vehicle, equipment, and facili- ties needs. The four key categories of spending shown in the CIP are as follows: 1. Equipment, vehicles, and facilities Over the next ove years the City anticipates spending an average of about $236,000 per year on equipment, vehicles, facilities capital needs. Current plans antici- pate the City issuing equipment certiecates every two years to fund the planned expenditures. Financial plans anticipate approximately $250,000 on average over the next ove years in annual debt service (princi- pal and interest) for equipment certiocates. This debt service is supported 100 percent by property tax levy. 2. Construction of a new public works facility This project is anticipated to begin in 2012. The total preliminary estimated cost is $4,000,000. For onancial planning purposes it is assumed that 50 percent of the project cost will be expended in 2012 and the balance in 2013. Bonds are anticipated to be issued in 2012 for the full project cost (estimates included in this report assumes the arst interest payment would be capital- ized). Future debt service (principal and interest) will be supported 100 percent by property tax levy. The anancial plans included in this report reflect structur- ing this future debt to coincide with other offsetting changes to the property tax levy from reduction in other debt service and the increase in tax base that will occur in tax year 2014, as a result of the decertiocation of the existing tax increment onancing (TIF) district in year 2013. This strategy reflects one of the City's key assumption for this onancial planning study, which is future annual property tax levy increases should be maintained at approximately 3 percent. 3. Sanitary sewer and water improvements The City has begun construction on a $1,910,000 proj- ect to bring municipal water and sanitary sewer con- nections into the City. This project includes agreement with Maple Grove for the purchase of municipal wa- ter. The project will be paid from $1,610,000 in avail- able tax increment revenue (cash) and $300,000 from anticipated future special assessments. For onancial planning purposes it is assumed the City will bond for the special assessment portion. The $1,910,000 cost includes a $300,000 payment to the City of Maple Grove. The City of Maple Grove will allow for the City of Corcoran to pay this amount over a 15 year period with interest. Capital Improvement Plan and Debt Service Study The City has not made a onal decision on a project to bring municipal water and sewer services to the City's downtown area. The estimated project cost for a "gravity system' with street improvements (32 feet) is $2,293,000. The City also studied the cost of other system solutions but has agreed that if the project is to proceed that a "gravity system" is the preferred al- ternative. This report includes the scenario or option whereby the beneoting property owners will be as- sessed 70 percent of the cost of the improvements and the City will pay the remaining 30 percent from tax increment revenues. The use of tax increment for the project will have implications for the City's cash flow management. This impact is reflected in the amount of anticipated redistribution of excess tax increment from the County to the City. This is reflected in the onancial plans. 4. Street improvement projects The City is reviewing options for street improvements, including paving of gravel streets. The CIP does not in- clude any projects for street improvement at this time. The City has an existing special assessment policy that it is in the process of reviewing and updating. The City anticipates that beneeting property owners will pay a portion of future street improvements. What level, if any, of City onancial participation is currently under discussion. Future decisions will be reflected in updates to the CIP. Source of Funding The source of funding for the CIP includes either cash balance or bond proceeds or a combination thereof. Street improvement plans that will be included in fu- ture updates to the CIP will also include intergovern- mental revenue (municipal state aid). Debt Service The City anticipates the issuance of bonds to anance certain capital improvements. Following the CIP Summary in this section is a Debt Service Study, a summary of future estimated debt service by year. The annual debt service on the proposed bonds is also included in the onancial plans for the debt service fund and utility fund. The preliminary estimates for debt service are based on bonds to be paid as follows: Equipment certiecates paid over 10 years at a 2.0 percent estimated interest rate. CIP bonds for a $4.0 million public works facility project, inclusive of all costs, paid over 25 years at a 3.75 percent estimated interest rate. A portion of the bond proceeds will be used to cover the arst interest payment on the bonds. Assessment bonds paid over 20 years at a 3.75 per- cent estimated interest rate. The onal sizing, structuring, and interest rates will depend on project speciecs and market conditions at time of issuance. The amounts shown in this report are preliminary and for planning purposes only. Capital Improvement Plan and Debt Service Study �1 Capital Improvement Plan and Debt Service City of Corcoran, MN Study Capital Improvement Plan (CIP) Summary Five Year Financial Plan Source of Funds in Excess of Use of Funds 3,000,000 (3,000,000) - 2012 Est. Actual 2013 2014 2015 2016 2011 Total USE OF FUNDS Equipment, Vehicles, and Facilities 316,503 106,000 149,000 240,000 369,500 115,000 1,296,003 Sanitary Sewer and Water Improvements 1,910,000 2,293,000 - - - - 4,203,000 Street Improvements - - - - Public Works Facility 1,000,000 3,000,000 - - - - 4,000,000 TOTAL 3,226,503 5,399,000 149,000 240,000 369,500 115,000 9,499,003 SOURCE OF FUNDS Equipment certificates 316,503 106,000 149,000 240,000 369,500 115,000 1,296,003 CIP bond proceeds 4,000,000 - - - - - 4,000,000 Tax increment funds 1,610,000 681,900 2,291,900 Assessment bond proceeds (Utlity Project) 300,000 1,605,100 1,905,100 Assessment bond porceeds (Streets) - - - Assessment streets pre -paid (est.15 %) Municipal State Aid streets - - - TOTAL 6,226,503 2,399,000 149,000 240,000 369,500 115,000 9,499,003 Source of Funds in Excess of Use of Funds 3,000,000 (3,000,000) - Existing Bonds Bankwest 2006 (Certificate) Farmers 2006 (Certificate) Northland Trust 2008 (Certificate) Carroll County 2004 (PD Facility) Bankwest 2010 Farmers 2010 Adjustment to certified levy Total Due on Existing debt Future Equipment Certificates Certificates 2012,10yrs at 2% Certificates 2014,10yrs at 2% Certificates 2016,10yrs at 2% Certificates 2018,10yrs at 2% Certificates 2020,10yrs at 2% Certificates 2022,10yrs at 2% Subtotal for Certificates Facilities Facility Bonds -$4 Million @25 yrs, 3.75% Total Debt Service Supported by Tax Levy Annual $ change Debt Supported by Revenue Other than Tax Levy Street Improvements Assessment bonds @15 yrs, 3.75% Utility Improvements Assessment /Revenue bonds @15 yrs, 3.75% City of Corcoran Debt Service Study Based on Capital Improvement Plan (CIP) Capital Improvement Plan and Debt Service Study 2010 Actual 2011 Actual 2012 Est. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 70,400 72,006 50,960 11,972 70,400 72,006 50,960 11,972 103,761 100,961 58,161 76,761 99,661 100,219 99,614 99,888 41,404 40,930 41,412 40,828 41,178 20,440 9,753 30,044 30,492 30,916 30,329 30,730 29,911 29,864 30,758 30,593 9,753 30,044 30,492 30,916 30,329 30,730 29,911 29,864 30,758 30,593 13,079 285,965 305,408 274,661 202,517 202,672 181,316 161,073 159,709 59,728 61,516 61,185 47,036 47,036 47,036 47,036 47,036 47,036 47,036 47,036 47,036 47,036 43,306 43,306 43,306 43,306 43,306 43,306 43,306 43,306 43,306 53,938 53,938 53,938 53,938 53,938 53,938 53,938 25,605 25,605 25,605 25,605 25,605 25,605 25,605 25,605 25,605 47,036 47,036 90,342 90,342 144,280 144,280 169,885 169,885 195,490 195,490 174,059 65,000 168,000 168,000 207,000 191,000 250,000 253,000 270,000 267,000 270,000 270,000 285,965 305,408 274,661 314,552 417,707 439,658 458,415 494,989 454,007 484,400 501,070 462,490 465,490 444,059 19,443 (30,748) 39,892 103,155 21,951 18,757 36,574 (40,982) 30,393 16,670 (38,580) 3,000 (21,431) 27,573 175,100 175,100 175,100 175,100 175,100 175,100 175,100 175,100 175,100 8 FINANCIAL PLANS Background Based on historical onancial performance, current charges and fees, estimates for future utility rates, and future capital projects, the following anancial plans have been prepared for each City fund. The informa- tion provided for the Utility Fund is prospective, as the City has not yet acted to approve this fund. Included in this Financial Plans Section is a anancial plan for each of the funds listed below. A separate re- port is also provided at the end of the individual fund reports that summarizes projected property tax levy amounts and tax rates. • All City Funds Combined Financial Plan • General Fund Financial Plan • Tax Increment Fund Financial Plan • Debt Service Funds Financial Plan • Special Revenue Funds Financial Plan • Utility Fund Financial Plan • Capital Projects Fund Financial Plan • Summary Property Tax Levy Report Key Factors (Assumptions) The key factors or assumptions that were used to de- velop the onancial plans are as follows: • 2.0 percent annual increase in operating expense. • 1.5 percent annual increase in non - property tax revenue, with the exception of future utility fees estimated to increase by 2.0 percent annually. • Annual projected increase in property tax levies to be set at a level sufficient to fund cash flow require- ments and to maintain minimum fund balance lev- els per City Policy. The goal for the annual prop- erty tax levy increase should be at or less than 3 percent. • Fiscal disparities distribution of property taxes and contribution of property tax capacity is assumed to be at the same levels as for Pay 2012 for this report. The actual amounts will vary by year and will im- pact the projections shown in this report. • Debt service will be structured in order to limit the annual increase in debt service levy to an amount that when combined with the increase for the Gen- eral Fund is consistent with the City's goal for maintaining an annual property tax levy increase at or less than 3 percent. • General Fund will provide permanent funding (cash) to the Infrastructure Planning Fund (Fund 402) and to Shannon Lane (Fund 417) in the ap- proximate amount of $176,000 and $100,000, re- spectively over a 15 year period. Funds 402 and 417 have been "carrying" a liability (funds owed to the General Fund) for several years. The City has determined that there will not be other revenue available as anticipated to pay for prior year costs incurred in these funds. • Bonding for a new public works facility will occur in 2012, with 25 percent of the funds expended in 2012 and the balance in 2013. The estimated cost of the project, including construction and all other costs is estimated at $4.0 million. • Estimated redistribution of tax increment funds al- Financial Plans 7 located as follows: $180,000 to the Utility fund to provide permanent start -up funding; and 247,000 to the General Fund to be designated for meeting cash flow requirements. • Maintain a minimum balance in the General Fund equivalent to 35 percent of annual expenditures. • Maintain a minimum balance in the future Utility Fund equivalent to three months of operating ex- penditures. • Maintain positive balances in all other City funds and amounts sufficient to meet specioc cash flow requirements of the funds. • CIP plan will be implement as shown in the report. This includes the use of available tax increment for the water and sanitary improvements, including a portion for the downtown area improvements. • Fees and charges for service revenue shown in the Utility Fund is based on fees and charges reviewed by the City Council but not yet adopted. A onal fee schedule will need to be adopted by ordinance when the City establishes the Utility Fund. Infor- mation on utility fees and charges is included in the Appendix section. Financial Plans 10 ALL FUNDS COMBINED The onancial plan on the next page provides a sum total of all sources and uses of funds for all City funds combined. Source of Funds Annual source of funds from non - property tax levy sources has been stable for the City over the last sev- eral years and is projected to continue to be so in the future. The City does not receive local government aid from the State. Property tax levy increases will be needed to pay for increased operating costs and debt service related to planned capital improvements. The City has plans to adopt new fees and charges as part of the creation of a utility for sanitary sewer and municipal water services. Use of Funds Personnel and other operating costs overall have been and are projected to remain stable. There will be (new) increased operating costs related to the offering of utility services and for the new public works mainte- nance facility. The additional operating expense for utility services is estimated at $115,000 and is included in the Utility Fund beginning in year 2014. The new public works maintenance facility is estimated to cost approximately $40,000 per year to operate. This new operating expense is included in the General Fund be- ginning in year 2014. The City is implementing several major projects over the next two years that will result in a planned spend down of cash balance and require the need for bond issuance to anance certain improvement costs. The projects include installing infrastructure for munici- pal sewer and water services in order to bring these services into the community and the construction of a new public works maintenance facility. Debt service will increase and so will the property tax levy needed to support payment. The City has planned for this anticipated increase in property tax levy to coincide with the decertiecation of its tax in- crement onancing district. The decertiecation of the tax increment district will provide an estimated 4 per- cent increase in the City's tax base which will help to offset the impact of increasing the City's property tax levy in year 2014 for debt service and funding for cash flow. The report on Page 25 provides information on tax levy and tax base. The City plans to receive a one -time cash inflow from the redistribution of excess tax increment funds from the County. Based on the key assumptions in the re- port, the estimated amount is $427,000 in year 2014. The City plans to designate $247,000 of this payment for meeting its cash flow and fund balance require- ments for the General Fund. The remaining amount of cash inflow from the tax increment redistribution, $180,000, will provide start -up cash for the City's Util- ity Fund. The Utility Fund included in this report has not yet been adopted by the City Council. Transfers to Other Funds The transfers to other funds is between the General Fund and the Special Revenue Funds ($5,000) and between the General Fund and the Capital Projects Funds ($18,529). Financial Plans 11 Financial Plans City of Corcoran, MN All Funds Five Year Financial Plan Prior Years Estimated Projected 2012 2012 2010 Actual 2011 Actual Budget Estimated 2013 Budget % Chg 2014 2015 2016 2017 Source of Funds: Charges for service 497,747 478,722 460,680 460,680 500,000 8.5% 288,116 296,935 305,837 314,865 Assessments 16,325 8,463 - - - 0.0% 27,573 175,100 175,100 175,100 Redistribution of TIF - - - - - 0.0% 427,379 - - - Liceneses and permits 95,626 101,850 78,200 78,200 80,000 2.3% 81,200 82,418 83,654 84,909 Intergovernmental 392,849 258,581 243,168 243,168 245,000 0.8% 248,675 252,405 256,191 260,034 Investment Income 51,203 29,796 52,500 52,500 46,500 -11.4% 10,580 10,661 10,744 10,827 Fines and forfeitures 110,388 108,006 90,000 90,000 90,000 0.0% 91,350 92,720 94,111 95,523 Cable franchise fees 34,674 37,253 32,000 32,000 35,000 9.4% 35,525 36,058 36,599 37,148 Misc - Other 138,342 150,472 30,750 30,750 31,000 0.8% 31,340 31,684 32,032 32,383 Delinq property taxes - - 40,000 40,000 - 0.0% - - - - Bond proceeds 806,454 - 4,616,503 4,916,503 3,316,200 -28.2% 149,000 240,000 369,500 115,000 Transfer in from other funds 46,573 5,000 5,000 5,000 5,000 0.0% 23,529 23,529 23,529 23,529 Subototal Non Property Tax Funds 2,190,181 1,178,143 5,648,801 5,948,801 4,348,700 -23.0% 1,414,267 1,241,509 1,387,296 1,149,317 Property tax levy 2,651,573 2,694,987 2,781,119 2,781,119 2,919,009 5.0% 3,207,408 3,306,556 3,403,705 3,499,888 Total Source of Funds 4,841,754 3,873,130 8,429,920 8,729,920 7,267,709 -13.8% 4,621,675 4,548,066 4,791,000 4,649,205 Use of Funds: Personal services 1,485,007 1,508,530 1,604,216 1,604,216 1,636,300 2.0% 1,719,026 1,753,407 1,788,475 1,824,244 Supplies 572,641 585,124 627,555 627,555 640,106 2.0% 652,908 665,966 679,286 692,871 Other services and charges 1,071,645 930,026 900,974 950,974 993,768 10.3% 2,395,063 1,088,337 1,109,285 1,130,651 Capital outlay 1,062,083 487,966 3,268,826 3,568,826 7,047,269 115.6% 203,033 294,914 425,312 171,728 Debt service 285,965 405,408 261,582 261,582 314,552 20.3% 445,281 614,757 633,514 670,088 Transfer out to other funds 46,573 5,000 5,000 5,000 5,000 0.0% 23,529 23,529 23,529 23,529 Total Use of Funds 4,523,914 3,922,054 6,668,153 7,018,153 10,636,996 59.5% 5,438,839 4,440,910 4,659,401 4,513,112 Net Change in fund balance 317,840 (48,924) 1,761,768 1,711,768 (3,369,287) - 291.2% (817,164) 107,156 131,600 136,093 Ending Fund Balance 4,366,188 4,317,264 6,079,032 6,029,032 2,659,744 -56.2% 1,842,580 1,949,736 2,081,335 2,217,429 Ending Cash Balance 4,435,442 4,409,525 6,171,293 6,121,293 1 2,752,005 -55.4%1 1,904,238 2,011,394 2,142,993 2,279,087 Fund Balance Goal per Policy 1,326,125 1,271,445 2,078,270 2,776,170 1,381,353 1,472,351 1,559,154 1,597,389 1,636,243 Fund Balance in Excess (Shortfall) 3,040,063 3,045,819 4,000,762 3,252,862 1,278,391 370,229 390,582 483,946 581,185 12 GENERAL FUND The onancial plan on the next page provides sources and uses of funds for the City's General Fund. Source of Funds Annual source of non -tax revenue for the General Fund has been stable over the last few years and is projected to continue to be so in the future. Intergov- ernmental revenue provides the single largest source of non -tax revenue to the General Fund. The City does not receive local government aid from the State of Minnesota. The City does receive an allocation of municipal state aid for street maintenance, recorded as intergovernmental revenue. The second largest source of non -tax revenue is charges for services and the next largest is ones and forfeitures. Revenue from property tax levy is shown to increase each year between 2013 and 2017. In addition to fund- ing general city operations, the property tax levy will need to increase in order to provide revenue to meet on -going cash flow needs. The City has been able to leverage other non - General Fund sources of cash from an existing City tax increment district. This tax incre- ment onancing district will decertify at the end of year 2013 at which time the cash will either have been spent in its entirety or returned to Hennepin County for re- distribution to the local taxing jurisdictions. The City of Corcoran will receive approximately a third of any redistribution of tax increment funds. Future projections for property tax levy include the following increases by year for General Fund cash flow purposes. The actual amount that will need to be levied will depend on multiple factors, including actual General Fund change in fund balance (cash po- sition) from year to year and the decision on return of excess tax increment for redistribution (pending deci- sion on downtown project). - Year 2013 $0 - Year 2014 $90,000 - Year 2015 to 2016 $20,000 per year - Year 2017 $0 Use of Funds The General Fund is used to account for the expense of providing general government services (operations) for the City. The largest use of funds is for the cost of personnel, including salary and wages and beneets. Other costs including operating materials and sup- plies, equipment, and other professional services. Transfers to Other Funds Beginning in year 2014, it is anticipated that the City will begin to "write -off" a receivable for cash due from other city funds. To highlight the onancial impact of this action, the elimination of the "due from other fund" in the General Fund balance sheet, is shown as a transfer to other funds in the report. The effect of this action is that the General Fund will provide permanent funding (cash) to the Infrastructure Planning Fund (Fund 402) and to Shannon Lane Fund (Fund 417) in the amounts of $176,000 and $100,000, respectively over a 15 year period. The City has been carrying this "due to /due from other funds" for several years in its audit statements for the General Fund and Funds 402 and 417. There is no other non - General Fund source of revenue available to cover the prior year expenditures that were incurred in Funds 402 and 417 and funded with General Fund cash at the time. Financial Plans 13 Financial Plans City of Corcoran, MN General Fund Five Year Financial Plan 14 Prior Years Estimated Projected 2012 2012 2010 Actual 2011 Actual Budget Estimated 2013 Budget % Chg 2014 2015 2016 2017 Source of Funds: Charges for service 190,859 182,459 150,680 150,680 190,000 26.1% 192,850 195,743 198,679 201,659 Assessments 275 - - 0.0% - - - - Redistribution of TIF 0.0% 247,379 Liceneses and permits 95,626 101,850 78,200 78,200 80,000 2.3% 81,200 82,418 83,654 84,909 Intergovernmental 229,412 257,393 243,168 243,168 245,000 0.8% 248,675 252,405 256,191 260,034 Investment Income 4,439 4,068 6,000 6,000 5,000 - 16.7% 5,075 5,151 5,228 5,307 Fines and forfeitures 110,388 108,006 90,000 90,000 90,000 0.0% 91,350 92,720 94,111 95,523 Cable franchise fees 34,674 37,253 32,000 32,000 35,000 9.4% 35,525 36,058 36,599 37,148 Misc - Other 92,067 36,361 5,750 5,750 6,000 4.3% 6,090 6,181 6,274 6,368 Delinq property taxes 40,000 40,000 0.0% Bond proceeds - 0.0% - - - - Transfer in from other funds 16,426 5,000 5,000 5,000 5,000 0.0% 5,000 5,000 5,000 5,000 Subototal Non Property Tax Funds 774,166 732,390 650,798 650,798 656,000 0.8% 913,144 675,676 685,737 695,948 Property tax levy 2,351,310 2,374,309 2,506,458 2,506,458 2,604,456 3.9% 2,789,700 2,866,898 2,945,289 3,004,899 Total Source of Funds 3,125,476 3,106,699 3,157,256 3,157,256 3,260,456 3.3% 3,702,845 3,542,575 3,631,026 3,700,847 Use of Funds: Personal services 1,485,007 1,508,530 1,604,216 1,604,216 1,636,300 2.0% 1,669,026 1,702,407 1,736,455 1,771,184 Supplies 572,641 585,124 627,555 627,555 640,106 2.0% 652,908 665,966 679,286 692,871 Other services and charges 926,196 907,214 878,162 878,162 930,880 6.0% 989,498 1,009,288 1,029,474 1,050,063 Capital outlay 105,560 55,509 42,323 42,323 43,169 2.0% 44,033 44,914 45,812 46,728 Debt service 0.0% - - - - Transfer out to other funds 4,842 - - - 0.0% 18,529 18,529 18,529 18,529 Total Use of Funds 3,094,246 3,056,377 3,152,256 3,152,256 3,250,456 3.1% 3,373,994 3,441,103 3,509,555 3,579,375 Net Change in fund balance 31,230 50,322 5,000 5,000 10,000 100.0% 328,851 101,471 121,471 121,471 Ending Fund Balance 698,923 749,245 754,245 754,245 764,245 13% 1,093,096 1,194,567 1,316,039 1,437,510 Ending Cash Balance 439,658 504,683 509,683 509,683 519,683 2.0% 848,534 950,005 1,071,477 1,192,948 Fund Balance Goal per Policy 1,082,986 1,069,732 1,103,290 1,103,290 1,137,660 3.1% 1,180,898 1,204,386 1,228,344 1,252,781 Fund Balance in Excess (Shortfall) (384,063) (320,487) (349,045) (349,045) (373,415) 7.0% (87,802) (9,819) 87,695 184,729 14 TAX INCREMENT FUND The onancial plan on the next page provides sources and uses of funds for the City's Tax Increment Fund (Fund 401). The City has one tax increment onancing district, TIF District No. 1, a redevelopment district. It was approved on February 12, 1987, certioed on May 6, 1987, and the orst tax increment was received in 1988. The decertio cation date for the district is Decem- ber 31, 2013. Source of Funds Tax increment collected on parcels within TIF District No. 1, generally the downtown area, is recorded in this fund. As of December 31, 2011, the City reported a fund bal- ance in the approximate amount of $3.04 million. The City plans to spend a portion of this fund balance on tax increment eligible expenditure for public improve- ments. Any remaining fund balance will be returned to Hennepin County as excess tax increment for redis- tribution to the local taxing jurisdictions. The City of Corcoran will receive approximately a third of the ex- cess increment, to be used for general city purposes. Use of Funds The City does not have any outstanding obligations to which these tax increments are pledged. The TIF plan authorizes approximately $18.3 million in total expen- ditures. As of December 31, 2011, total actual expendi- tures were less than approximately $1.5 million. Approved plans authorize the use of $1.61 million of tax increment funds in year 2012 to pay for public in- frastructure improvements - construction of trunk san- itary sewer and water -main infrastructure. In year 2013, the onancial plan anticipates the City would use approximately $687,000 of tax increment funds to pay for constructing sanitary sewer and water infrastructure improvements in the downtown area. The construction of trunk sanitary sewer and wa- termain from the City of Maple Grove to the City of Corcoran's downtown area to replace existing septic systems and wells is currently described in the Devel- opment Program for TIF District No. 1. The onancial plan for this fund anticipates the City will return $1.32 million in year 2014 to the County for redistribution to the local taxing jurisdictions. Transfers to Other Funds There are no anticipated transfers to or from other funds. Financial Plans 15 Financial Plans City of Corcoran, MN Tax Increment Fund Five Year Financial Plan Needed Fund Balance - - - 697,900 - -23.7% - - - Fund Balance in Excess (Shortfall) 2,874,396 3,013,165 1,739,165 991,265 1,327,265 0.0% - - - 16 Prior Years Estimated Projected 2012 2010 Actual 2011 Actual 2012 Budget Estimated 2013 Budget % Chg 2014 2015 2016 2017 Source of Funds: Charges for service 299,645 286,325 300,000 300,000 300,000 0.0% Assessments 0.0% - - - - Redistribution of TIF 0.0% - - - - Liceneses and permits 0.0% - - - - Intergovernmental 973 1,188 0.0% - - - - Investment Income 35,693 20,655 36,000 36,000 36,000 0.0% - - Fines and forfeitures 0.0% - - - - Cable franchise fees 0.0% - - - - Misc - Other 0.0% - - - Delinq property taxes 0.0% Bond proceeds 0.0% Transfer in from other funds 0.0% - - - - Subototal Non Property Tax Funds 336,311 308,168 336,000 336,000 336,000 0.0% - - - - Property tax levy 0.0% Total Source of Funds 336,311 308,168 336,000 336,000 336,000 0.0% - - - - Use of Funds: Personal services - - 0.0% - - - - Supplies - - 0.0% - - - - Other services and charges 50,000 10,000 0.0% 1,327,265 - - Capital outlay 101,482 169,399 1,610,000 1,610,000 687,900 -57.3% - - - Debt service 0.0% - - - - Transfer out to other funds - - 0.0% - - Total Use of Funds 101,482 169,399 1,610,000 1,660,000 697,900 -56.7% 1,327,265 - - - Net Change in fund balance 234,829 138,769 (1,274,000) (1,324,000) (361,900) -71.6% (1,327,265) - - - Ending Fund Balance 2,874,396 3,013,165 1,739,165 1,689,165 1,327,265 -23.7% - - - - Ending Cash Balance 2,899,640 3,043,768 1,769,768 1,719,768 1 1,357,868 -23.3% - - - - Needed Fund Balance - - - 697,900 - -23.7% - - - Fund Balance in Excess (Shortfall) 2,874,396 3,013,165 1,739,165 991,265 1,327,265 0.0% - - - 16 DEBT SERVICE FUNDS The onancial plan on the next page provides sources and uses of funds on a combined basis for the City's debt service funds. The funds included are as follows: Fund 309 G. O. Equipment Certiecates and Fund 407 Facility Expansion. At the end of 2011, the City reported total bonded debt outstanding of $1,184,000. Of this amount, $1,052,000 is general obligation equipment certiecates, and $132,000 is lease revenue bonds for municipal facili- ties. The City also reported a $236,454 note payable outstanding at year end 2011. Source of Funds There are two source of funds, property tax levy and investment income. The general obligation equipment certiecates will be repaid with property tax levy. Prior year and future projected tax levy amounts are included in the onan- cial plan. The debt service levy includes an amount for the City's payment on the lease revenue bonds issued by the EDA for municipal facilities as well as for a payment on the note issued for a road construction project. Use of Funds The use of funds is for the payment of debt. Transfers to Other Funds There are no transfer of funds. Financial Plans 17 Financial Plans City of Corcoran, MN Debt Service Funds Five Year Financial Plan Needed Fund Balance 24,030 39,473 52,753 52,753 52,953 0.4% 53,156 53,360 53,567 53,775 Fund Balance in Excess (Shortfall) 18 Prior Years Estimated Projected 2012 2012 2013 2010 Actual 2011 Actual Budget Estimated Budget % Chg 2014 2015 2016 2017 Source of Funds: Charges for service 0.0% - - - - Assessments - 0.0% - - - - Redistribution of TIF 0.0% - Liceneses and permits 0.0% - - - - Intergovernmental 0.0% - - - - Investment Income 402 173 200 200 200 0.0% 202 204 206 208 Fines and forfeitures 0.0% - - - - Cable franchise fees 0.0% - - - - Misc - Other 0.0% - - - - Delinq property taxes 0.0% Bond proceeds 0.0% Transfer in from other funds 0.0% - - - - Subototal Non Property Tax Funds 402 173 200 200 200 0.0% 202 204 206 208 Property tax levy 300,263 320,678 274,661 274,661 314,553 14.5% 417,708 439,658 458,415 494,989 Total Source of Funds 300,665 320,851 274,861 274,861 314,753 14.5% 417,910 439,862 458,621 495,197 Use of Funds: Personal services - - 0.0% - - - - Supplies - - 0.0% - - - - Other services and charges - - 0.0% - - - - Capital outlay - - 0.0% - - - - Debt service 285,965 305,408 261,582 261,582 314,552 20.3% 417,707 439,658 458,415 494,989 Transfer out to other funds - - - 0.0% - - - - Total Use of Funds 285,965 305,408 261,582 261,582 314,552 20.3% 417,707 439,658 458,415 494,989 Net Change in fund balance 14,700 15,443 13,280 13,280 201 -98.5% 203 205 207 209 Ending Fund Balance 24,030 39,473 52,753 52,753 1 52,953 0.4% 53,156 53,360 53,567 53,775 Ending Cash Balance 24,030 39,473 52,753 52,753 1 52,953 0.4%1 53,156 53,360 53,567 53,775 Needed Fund Balance 24,030 39,473 52,753 52,753 52,953 0.4% 53,156 53,360 53,567 53,775 Fund Balance in Excess (Shortfall) 18 SPECIAL REVENUE FUNDS The onancial plan on the next page provides sources and uses of funds on a combined basis for all of the City's special revenue funds. The funds included are as follows: Fund 201 Reserve Donation; Fund 202 Po- lice Donation; Fund 204 Firearms Safety; Fund 205 DWI Forfeiture; Fund 206 Drug Forfeiture; and Fund 207 Truck Safety. Source of Funds The source of funds for the special revenue funds come from donations, charges for services, and other miscellaneous revenue sources which are generally restricted for the purpose they were collected. There is no property tax levy that is recorded to the special revenue funds. Use of Funds The use of funds is restricted for the purpose of the funds collected. Transfers to Other Funds Fund 205 DWI Forfeiture provides an annual transfer to the General Fund in the amount of $5,000 to reim- burse the General Fund for related expenditures. Financial Plans 19 Financial Plans City of Corcoran, MN Special Revenue Funds Five Year Financial Plan Needed Fund Balance Fund Balance in Excess (Shortfall) 35,865 44,526 52,014 52,014 59,314 14.0% 66,737 74,284 81,957 89,756 20 Prior Years Estimated Projected 2012 2012 2013 2010 Actual 2011 Actual Budget Estimated Budget % Chg 2014 2015 2016 2017 Source of Funds: Charges for service 7,243 9,938 10,000 10,000 10,000 0.0% 10,100 10,201 10,303 10,406 Assessments 0.0% - - - - Redistribution of TIF 0.0% - - - - Liceneses and permits 0.0% - - - - Intergovernmental 69,305 0.0% - - - - Investment Income 602 269 300 300 300 0.0% 303 306 309 312 Fines and forfeitures 0.0% - - - - Cable franchise fees 0.0% - - - - Misc - Other 32,611 26,266 25,000 25,000 25,000 0.0% 25,250 25,503 25,758 26,015 Delinq property taxes 0.0% Bond proceeds 0.0% Transfer in from other funds 305 0.0% - - - - Subototal Non Property Tax Funds 110,066 36,473 35,300 35,300 35,300 0.0% 35,653 36,010 36,370 36,733 Property tax levy 0.0% Total Source of Funds 110,066 36,473 35,300 35,300 35,300 0.0% 35,653 36,010 36,370 36,733 Use of Funds: Personal services - - 0.0% - - - - Supplies - - 0.0% - - - - Other services and charges 131,741 22,812 22,812 22,812 23,000 0.8% 23,230 23,462 23,697 23,934 Capital outlay - - 0.0% - - - - Debt service 0.0% - - - - Transfer out to other funds 305 5,000 5,000 5,000 5,000 0.0% 5,000 5,000 5,000 5,000 Total Use of Funds 132,046 27,812 27,812 27,812 28,000 0.7% 28,230 28,462 28,697 28,934 Net Change in fund balance (21,980) 8,661 7,488 7,488 7,300 -2.5% 7,423 7,547 7,673 7,799 Ending Fund Balance 35,865 44,526 52,014 52,014 59,314 14.0% 66,737 74,284 81,957 89,756 Ending Cash Balance I 38,263 44,490 51,978 51,978 1 59,278 14.0%1 66,701 74,248 81,921 89,720 Needed Fund Balance Fund Balance in Excess (Shortfall) 35,865 44,526 52,014 52,014 59,314 14.0% 66,737 74,284 81,957 89,756 20 UTILITY FUND The onancial plan on the next page provides sources and uses of funds for a future Utility Fund. The City Council has not yet acted to adopt and create this new enterprise fund. This is anticipated to happen in year 2013. Source of Funds The source of funds for the Utility Fund will come from charges for services, special assessments for capi- tal improvement projects, and a one -time redistribu- tion of tax increment funds that will provide initial start -up cash to the Fund. The City anticipates the issuance of bonds supported by the collection of special assessments. Use of Funds The use of funds will be to pay for the operation of the sanitary sewer and municipal water services and for annual capital outlay. Anticipated annual debt service payments will be sup- ported by the collection of special assessments. Transfers to Other Funds There are no anticipated transfers to or from other funds. Financial Plans 21 Financial Plans City of Corcoran, MN Utility Fund Five Year Financial Plan Needed Fund Balance (3 -mo oper) - - - 9,963 - 44,214 93,896 94,412 94,938 Fund Balance in Excess (Shortfall) - - - (39,850) - 75,994 716 (21,079) (38,520) 22 Prior Years Estimated Projected 2012 2012 2010 Actual 2011 Actual Budget Estimated 2013 Budget % Chg 2014 2015 2016 2017 Source of Funds: Charges for service - 0.0% 85,166 90,991 96,855 102,800 Assessments - 0.0% 27,573 175,100 175,100 175,100 Redistribution of TIF 0.0% 180,000 - - - Liceneses and permits 0.0% - - - - Intergovernmental 0.0% - - - - Investment Income 0.0% - - - - Fines and forfeitures 0.0% - - - - Cable franchise fees 0.0% - - - - Misc - Other 0.0% - - - - Delinq property taxes 0.0% Bond proceeds 300,000 1,605,100 0.0% - - - - Transfer in from other funds - - 0.0% - - - - Subototal Non Property Tax Funds - - - 300,000 1,605,100 0.0% 292,739 266,091 271,955 277,899 Property tax levy 0.0% Total Source of Funds - - 300,000 1,605,100 0.0% 292,739 266,091 271,955 277,899 Use of Funds: Personal services - - 0.0% 50,000 51,000 52,020 53,060 Supplies - 0.0% - - - - Other services and charges - 29,888 0.0% 55,070 55,587 56,115 56,654 Capital outlay 300,000 1,605,100 0.0% 10,000 10,000 10,000 10,000 Debt service - - 0.0% 27,573 175,100 175,100 175,100 Transfer out to other funds - - - - 0.0% - - - - Total Use of Funds - - 300,000 1,634,988 0.0% 142,643 291,687 293,235 294,814 Net Change in fund balance - - - - (29,888) 0.0% 150,096 (25,596) (21,280) (16,915) Ending Fund Balance - - (29,888) 0.0% 120,208 94,612 73,332 56,418 Ending Cash Balance 1 (29,888) 0.0%1 120,208 94,612 73,332 56,418 Needed Fund Balance (3 -mo oper) - - - 9,963 - 44,214 93,896 94,412 94,938 Fund Balance in Excess (Shortfall) - - - (39,850) - 75,994 716 (21,079) (38,520) 22 Fund and Funds 402 and 417. There is no other non - CAPITAL PROJECTS FUNDS General Fund source of revenue available to cover the prior year expenditures that were incurred in Funds 402 and 417 and funded with General Fund cash at the The onancial plan on the next page provides sources time. and uses of funds on a combined basis for all of the City's capital projects funds. The funds included are as follows: Fund 402 Infrastructure Planning, Fund 417 Shannon Lane, Fund 415 Park Capital, Fund 416 Capi- tal Equipment Certiecates, Fund 410 Public Works Capital, Fund 308 Police Capital, Fund 305 Asphalt Maintenance, and Fund 310 County 19 Improvement. Source of Funds The projected source of funds is from investment in- come and bond proceeds. Prior year source of funds included special assessments and intergovernmental, as well. Use of Funds The projected use of funds will be for capital projects as included in the City's Capital Improvement Plan. This includes equipment acquisition and construction of a public works maintenance facility. Transfers to Other Funds The source of transfers from other funds is from the General Fund. As described in the General Fund @)- nancial plan, beginning in year 2014, it is anticipated that the City will begin to "write -off" the amounts that a Funds 402 and 417 owe the General Fund. The General Fund will provide permanent funding (cash) to Funds 402 and 417 in the amounts of $176,000 and $100,000, respectively over a 15 year period. The City has been carrying this "due to /due from other funds" for several years in its audit statements for the General Financial Plans 23 Financial Plans City of Corcoran, MN Capital Projects Funds Five Year Financial Plan Needed Fund Balance 183,244 117,714 870,214 870,214 121,464 -86.0% 127,346 133,228 139,110 144,992 Fund Balance in Excess (Shortfall) 549,731 353,141 2,610,641 2,610,641 364,391 382,038 399,684 417,330 434,977 24 Prior Years Estimated Projected 2012 2010 Actual 2011 Actual 2012 Budget Estimated 2013 Budget % Chg 2014 2015 2016 2017 Source of Funds: Charges for service 0.0% Assessments 16,050 8,463 - 0.0% - - - Redistribution of TIF 0.0% Liceneses and permits 0.0% Intergovernmental 93,159 - 0.0% - - - - Investment Income 10,067 4,631 10,000 10,000 5,000 -50.0% 5,000 5,000 5,000 5,000 Fines and forfeitures 0.0% Cable franchise fees 0.0% Misc - Other 13,664 87,845 0.0% Delinq property taxes 0.0% Bond proceeds 806,454 4,616,503 4,616,503 1,711,100 -62.9% 149,000 240,000 369,500 115,000 Transfer in from other funds 29,842 - 0.0% 18,529 18,529 18,529 18,529 Subototal Non Property Tax Funds 969,236 100,939 4,626,503 4,626,503 1,716,100 -62.9% 172,529 263,529 393,029 138,529 Property tax levy 0.0% Total Source of Funds 969,236 100,939 4,626,503 4,626,503 1,716,100 -62.9% 172,529 263,529 393,029 138,529 Use of Funds: Personal services - - 0.0% - - - - Supplies - - 0.0% - - - - Other services and charges 13,708 - - 0.0% - - - - Capital outlay 855,041 263,058 1,616,503 1,616,503 4,711,100 191.4% 149,000 240,000 369,500 115,000 Debt service 100,000 0.0% Transfer out to other funds 41,426 - - - 0.0% - - - Total Use of Funds 910,175 363,058 1,616,503 1,616,503 4,711,100 191.4% 149,000 240,000 369,500 115,000 Net Change in fund balance 59,061 (262,119) 3,010,000 3,010,000 (2,995,000) - 199.5% 23,529 23,529 23,529 23,529 Ending Fund Balance 732,974 470,855 3,480,855 3,480,855 485,855 -86.0% 509,384 532,912 556,441 579,969 Ending Cash Balance 1,033,851 777,111 3,787,111 3,787,111 1 792,111 -79.1%1 815,640 839,168 862,697 886,225 Needed Fund Balance 183,244 117,714 870,214 870,214 121,464 -86.0% 127,346 133,228 139,110 144,992 Fund Balance in Excess (Shortfall) 549,731 353,141 2,610,641 2,610,641 364,391 382,038 399,684 417,330 434,977 24 PROPERTY TAX LEVY PROJECTIONS REPORT The report on the next page provides a summary of future projected property tax levies, both before and after escal disparities adjustments, and future project- ed property tax rates, based on a projected growth in gross tax capacity of 0.5 percent per year from market value changes. It is important to note that for the report the escal dis- parity distribution of tax levy and ascal disparity con- tribution of tax capacity are held constant at the "Pay 2012" tax year amounts. The actual distribution and contribution from the escal disparities program will vary from year to year. Changes to the amounts shown for escal disparities will impact the City's spread levy and net tax capacity and the resulting tax capacity rate. Explanation of changes in levy are provided. A break- down is provided for the change in General Fund levy for operations and cash flow requirements. Project- ed growth in non -tax revenue in the General Fund is shown as an offset to the tax levy that would other- wise be needed. A break down of the debt service levy is provided for current and future debt service levy needs. Financial Plans 25 Financial Plans City of Corcoran Summary of Projected Property Tax Levy, Tax Capacity, and Tax Rates Notes: Assumed valuation growth in tax capacity beginning in 2014 of 0.5 percent annually. Certified Estimated The actual amount of distribution /contribution for fiscal disparities will vary by year from what is shown here. Projected Annual Percent Change in Levy, Before Fiscal Disparities: 2011 2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017 Property Tax Levy by Payable Year General Fund 2,365,575 2,411,777 2,506,458 2,604,456 2,789,700 2,866,898 2,945,289 3,004,899 Debt Service 300,263 320,678 274,661 314,553 417,708 439,658 458,415 494,989 Total Property Tax Levy 2,665,838 2,732,455 2,781,119 2,919,009 3,207,408 3,306,556 3,403,705 3,499,888 Less Fiscal Disparities Distribution 182,130 207,507 191,613 191,613 191,613 191,613 191,613 191,613 Net Spread Levy 2,483,708 2,524,948 2,589,506 2,727,396 3,015,795 3,114,943 3,212,092 3,308,275 annual % change 1.7% 2.6% 5.3% 10.6% 3.3% 3.1% 3.0% Tax Capacity by Payable Year Gross Tax Capacity (TC) 8,223,012 7,488,469 7,137,207 7,137,207 7,137,207 7,137,207 7,137,207 7,137,207 Less Tran Line 3,066 3,412 3,251 3,251 3,251 3,251 3,251 3,251 Less Fiscal Disparities TC 422,472 425,243 379,798 379,798 379,798 379,798 379,798 379,798 Less Tax Increment TC 269,315 242,855 217,416 217,416 - - - - Net Tax Capacity 1 7,528,159 6,816,959 6,536,742 6,536,742 1 6,754,158 6,754,158 6,754,158 6,754,158 annual % change -9.4% -4.1% 0.0% 3.30 0.0% 0.0% 0.0% Tax Rate 0.3299 0.3704 0.3961 0.4172 0.4465 0.4612 0.4756 0.4898 annual % changes 12.3% 7.0% 5.3% 7.0% 3.3% 3.1% 3.0% EXPLANATION OF CHANGES IN LEVY: General Fund General Fund Operations n/a 21,797 108,385 98,200 105,009 67,109 68,451 69,821 General Fund Cash Flow n/a - 90,000 20,000 20,000 Less Changes in Other NonTax Revenue n/a (202) (9,765) (9,911) (10,060) (10,211) Total General Fund n/a 21,797 108,385 97,998 185,244 77,198 78,391 59,609 Debt Service Equipment Certificates (existing) n/a (72,144) 155 (21,356) (20,243) (1,364) Equipment Certificates (new) n/a - - 47,036 - 43,306 - 53,938 Public Works Facility n/a - - 65,000 103,000 - 39,000 (16,000) Total Debt Service n/a - - 39,892 103,155 21,951 18,757 36,574 Total Annual Change in Spread Levy n/a 21,797 108,385 1 137,890 1 288,399 99,148 97,148 96,183 Notes: Assumed valuation growth in tax capacity beginning in 2014 of 0.5 percent annually. TIF District No. 1 will be decertified in 2013, eliminating the reduction to the City's gross tax capacity (TC) and increasing available net tax capacity for general city levy purposes Analysis assumes no change to fiscal disparities over planning horizon. The actual amount of distribution /contribution for fiscal disparities will vary by year from what is shown here. Annual Percent Change in Levy, Before Fiscal Disparities: 2011 2012 2013 2014 2015 2016 2017 General Fund 2.0% 3.9% 3.9% 7.1% 2.8% 2.7% 2.0% Debt Service 6.8% -14.3% 14.5% 32.8% 5.3% 4.3% 8.0% Total Change in Certified Levy before Fiscal Disp 2.5% 1.8% 5.0% 9.9% 3.1% 2.9% 2.8% 26 $12,000,000 $10,000,000 r'.: 111 111 $6,000,000 $4,000,000 $2,000,000 $0 All City Funds Total Projected Source and Use of Funds 2011 Actual 2012 Est. 2013 2014 2015 Total Source of Funds Total Use of Funds 2016 2017 Appendix 27 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 General Fund Total Projected Source and Use of Funds 2011 Actual 2012 Est. 2013 Total Source of Funds ]' 2014 2015 2016 2017 Total Use of Funds Appendix 28 Projected Annual % Change in Property Tax Levy and Property Tax Rate 14.0% 1 12.3% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 2011 Actual 2012 Actual 2013 Annual %change in properytax levy 2014 2015 2016 2017 Annual % change in property tax rate Appendix 29 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 All City Funds Projected Future Fund /Cash Balance Compared to Minimum 2011 Actual 2012 2013 2014 2015 2016 2017 - - - Estimated Annual Minimum Needed — Projected Future Balances Appendix 30 Financial Plans City of Corcoran, MN Preliminary Utility Rate Fee Schedule (NOT ADOPTED) Annual Percent Adjustment to Rate Fee Schedule: 2.091. 2.0% 2.096 Year: 2014 2015 2016 2017 Estimated Residentual Equiv_ Units (REU) added per yr 10 10 10 10 Est_ 1.000 Gallons of Water Sold Per Yr Per REU Water Base charge (per meter or per unit / quarter) Base $5.00 $5.10 $5.20 $5.30 Sanitary Base charge (per meter or per unit / quarter) Base $21.00 $21.40 $21.80 $22.20 State water testing, base charge (per meter or per unit / quarter) Base $1.59 $1.60 $1.60 $1.60 Water treatment surcharge (per meter or per unit / quarter) Base $3.30 $3.40 $3.50 $3.60 Water (per meter or per unit): Tier 1: Water usage per 1,000 gallons up to 20,000 gallons Activity $1.05 $1.10 $1.10 $1.10 Tier 2: Water usage +20,000 gallons up to 40,000 gallons Activity $1.40 $1.40 $1.40 $1.40 Tier 3: Water usage +40,000 gallons Activity $1.75 $1.80 $1.80 $1.80 Sewer (sewer based on winter water usage) per 1,000 gallons Activity $1.85 $1.90 $1.90 $1.90 Commercial Water Base charge (per meter or per unit / quarter) Base $5.00 $5.10 $5.20 $5.30 Sanitary Base charge (per meter or per unit / quarter) Base $21.00 $21.40 $21.80 $22.20 Water treatment surcharge per 1,000 gallons (Commercial only) Base $0.13 $0.10 $0.10 $0.10 State water testing, base charge (per meter or per unit / quarter) Base $1.59 $1.60 $1.60 $1.60 Water (per meter or per unit): Tier 1: Water usage per 1,000 gallons Activity $1.40 $1.40 $1.40 $1.40 Sewer (based on 90% of res rate and chgd on actual water usage) Activity $1.67 $1.70 $1.70 $1.70 Irrigation Water Base charge (per meter or per unit) Base $5.00 $5.10 $5.20 $5.30 Sanitary Base charge (per meter or per unit) Base $0.00 $0.00 $0.00 $0.00 State water testing, base charge (per meter or per unit / quarter) Base $1.59 $1.60 $1.60 $1.60 Water (per meter or per unit): Tier 1: Water usage per 1,000 gallons up to 200,000 gallons Activity $1.25 $1.30 $1.30 $1.30 Sewer (sewer based on winter water usage) per 1,000 gallons Activity $1.75 $1.80 $1.80 $1.80 SEWER CONNECTION CHARGES Single family, duplex, townhouse, mobile home (per unit) Base $2,865 $2,922 $2,981 $3,040 Multiple (80% of single family) Base $2,292 $2,338 $2,385 $2,432 Commercial /industrial, churches, schools, hospitals, nursing homes Base $2,865 $2,922 $2,981 $3,040 MCES connection charge (per unit) Base $2,365 $2,412 $2,461 $2,510 WATER CONNECTION CHARGES Single family, duples, townhouse, mobile home (per unit) Base $2,500 $2,550 $2,601 $2,653 Multiple (80% of single family) Base $2,000 $2,040 $2,081 $2,122 Commercial /industrial, churches, schools, hospitals, nursing homes Base $2,500 $2,550 $2,601 $2,653 TRUNK LINE AVAILABILITY CHARGES Sewer availability charge per acre of land Base $4,200 $4,284 $4,370 $4,457 Water availability charge per acre of land Base $8,500 $8,670 $8,843 $9,020 31 NORTHLAND SECURITIES Northland Securities, Inc. 45 South 7th Street , Suite 2000 Minneapolis, MN 55402 Toll Free 1- 800 - 851 -2920 Main 612 - 851 -5900 www.northlandsecurities.com Member FINRA and SIPC CITY OF CORCORAN DRAFT CITY POLICY FUND BALANCE/NET ASSETS It is important for the financial stability of the City to maintain fund balance /net assets for unanticipated expenditures or unforeseen emergencies, as well as to provide adequate working capital for current operating needs so as to avoid short -term borrowing. When possible, the City will strive to pay cash for capital projects that can be anticipated and planned for in advance. Therefore the City's fund balance /net assets levels may fluctuate, in part, based on capital project plans. POLICY STATEMENT l.. The City will maintain fund balances in the General and Special Revenue Funds at a level which will avoid issuing short -term debt to meet the cash flow needs of the current operating budget. Generally, the goal would be to maintain a minimum total General Fund balance of 35% of the operating budget; however, this need could fluctuate with each year's budget objectives and appropriations such as large capital expenditures, and variations in the collection of revenues. 2. The City will maintain fund balance in the Capital Funds at a minimum level sufficient to provide adequate working capital for current expenditure needs. Generally the City shall strive for a minimum of 3- months operating cash in these funds. (This minimum shall be calculated based on the approved budget multiplied by 25- percent.) The maximum amount shall be limited to the 3- months operating cash plus an amount of cash that is estimated to be needed to pay for future capital projects. Future capital projects must be identified and quantified in a written finance plan for the fund which shall be included in the Citys annual budget document. 3. The City will maintain net assets in the Enterprise Funds at a minimum level sufficient to provide adequate working capital for current expenditure needs. Generally the City shall strive for a minimum of 3- months operating cash in these funds. (This minimum shall be calculated based on the approved budget multiplied by 25- percent). The maximum amount in the Enterprise Funds shall be limited to the 3- months operating cash plus an amount of cash that is estimated to be needed to pay for future capital projects. Future capital projects must be identified and quantified in a written finance plan for the fund which shall be included in the City's annual budget document. The City will annually review the adequacy of all net assets balances. Judicious use of net assets within funds can be used to moderate fluctuations in capital projects and infrastructure maintenance expenses. 4. The City will annually review the adequacy of all fund balances. judicious use of fund balance within funds can be used to moderate fluctuations in capital projects and infrastructure maintenance expenses. ADMINISTRATOR'S REPORT Agenda Item No. 11e. Council Meeting: Prepared By: September 13, 2012 Dan Donahue, Administrator Topic: Action Required: Draft 2013 Budget Direction Policy: Council must adopt a preliminary Property Tax Levy by September 15, 2012, and adopt the 2013 City Budget by December 20, 2012 Budget Impact: Summary: The draft 2013 Budget, Rev 5 provides for proposed expenditures and revenues. It includes a proposed property tax levy needed to balance the budget. The proposed budget is also in sync with the Five Year Finance Plan as to debt service needs and property tax needs. The proposed Property Tax Levy is $2,727,396 or $137,890 more than in 2012 (it actually is going to be an additional$15,728 as we have to add 5% to the debt service). An idea to cover this 5% is to take it out of reserves as that is where the extra 5% goes. Practically speaking, we really don't need the $15,728 but state law says we have to add this to debt service. The draft 2013 Budget provides the detail of expenditures and revenues. Expenditures for the departments are up $42,451. The rest of the increase to $137,890 is due to debt service. Rev 5 of the Budget does not have a line item of $100,000 to add to the General Fund Surplus. However, adding it in increases the property taxes to $237,890 and almost a 9% increase. You can certainly add it back in but we can achieve the 35% General Fund surplus maybe as soon as 2015 if we follow the Five Year Finance Plan (see page 14 of the Plan at the bottom). will have a presentation for the council meeting. I'll try and get better market value figures and use them to arrive at individual impacts the proposed property tax increases will have on various Market Valued homes 1 CITY OF CORCORAN 2013 DRAFT BUDGET REV 5 9107/12 DRAFT 11 e. 1le. 2 2013 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2009 ACTUAL 2010 ACUTAL 2011 ACTUAL 2012 BUDGET 2013 BUDGET UUUUL I DIFFERENCE 201212013 PASS THROUGH PAGE # a CITY HALL DEPARTMENTS COMMENTS 5 City Council 6 41100 -100 Wages & Salaries 6,600 6,600 3,300 6,600 6,600 $ 7 41100 -122 FICA / SS 409 409 205 409 409 $ 8 41100 -126 Medicare 96 96 48 96 96 $ 9 41100 -210 Operating Expense 10 285 100 100 $ 10 41100 -364 Workers' Compensation 30 52 55 55 $ 11 Total City Council 7,144 7,157 3,837 7,260 7,260 $ 121 1 13 i News Letter/Website 14 41130 -351 News letter, Misc literature 3,134 4,067 3,714 4,000 4,000 $ 16 41130 -354 lWebsite 636 636 700 700 700 $ 17 Total Newsletter & Web 3,770 4,703 4,414 4,700 4,700 18 19 Elections 20 41410 -210 10perating Supplies 1,366 6,507 1,122 9,000 5,000 $ (4,000) 211 Total Elections 1,366 6,507 1,122 9,000 5,000 (4,000) 22 23 Auditor 24 41540 -300 Professional Services 84,555 29,044 16,612 17,000 17,000 $ 25 Financial Services 5,958 6,000 6,000 $ Abdo, Eick & Meyers $17,250 KDV, Ltd $3,686 26 Total Auditor 84,555 29,044 22,570 23,000 23,000 271 1 281 Assessor 29 41550 -210 Operating Supplies 427 1,331 717 500 500 $ 30 41550 -300 Professional Services 48,699 49,284 45,177 49,284 49,284 $ 31 Total Assessor 49,125 50,615 45,894 49,784 49,784 $ 32 33 W Attorney 34 41600 -300 Professional Services 24,425 69,753 30,861 35,000 35,000 $ 35 Total City Attorney 24,425 69,753 30,861 35,000 35,000 $ 36 37 City Charter 38 41000 -210 Operating Supplies - 9 235 $ 39 41000 -300 Professional Services 1,049 $ 40 Total City Charter 1,058 235 $ 41 42 Other General Government 47 41900 -300 Professional Srvs 2,400 $ 481 41900 -321 Telephone - - - $ 49 41900 -360 Insurance 40,253 40,640 42,717 45,000 45,000 $ 2011 -2012 premium amount pending 50 41900 -430 Misc Banking Charges 59 $ 51 41900 -433 Dues & Memberships 24,987 23,274 22,207 24,000 24,000 $ Elm Creek Watershed, Home Free, NWHSC, League of MN Cities, AMM, Mediation 52 41900 -810 1 Refunds /Reimbursements 2,784 - - $ 53 General Fund Reserve 40,000 - $ (40,000) General Fund Reserve 54 Total Other Government 71,081 63,914 64,924 109,000 69,000 (40,000) 55 561 Planning & Zoning 57 41910 -300 Professional Services 21,212 72,551 56,870 32,000 32,000 $ 59 Total Planning & Zoning 21,212 72,551 56,870 32,000 32,000 $ 60 61 City Hall Operating Expenses 62 41941 -200 Office Supplies 1,345 2,111 2,509 3,000 3,000 $ 63 41941 -201 Postage /Shipping 2,138 2,551 1,554 2,500 2,500 $ 64 41941 -207 Computer / Co ier Supplies 1,781 2,266 4,620 3,000 3,000 $ 651 41941 -210 Operating Supplies 12,544 15,160 10,425 9,500 9,500 $ Cintas, Zep, Adams, Erkens Water 66 41941 -300 Professional Services 5,505 7,250 10,650 7,000 7,000 $ Admin fees (Paychex, Acclaims, US Bank, HRA) 67 41941 -321 ITelephone 3,750 3,085 2,774 3,000 3,000 $ 68 41941 -352 Gen. Notices Public Hearing information 2,970 3,651 1,562 2,000 2,000 $ Crow River / Sun News 69 41941 -364 Workers Comp Insur. ( Misc. Vol. Commissioners Staff) 42 - - 438 438 $ 70 41941 -380 Utilities / Outside Services 14,744 17,848 12,792 14,500 14,500 $ Center Point, Randys, Wright Henn Elec, Wright Henn Security 71 41941 -400 Repairs /Maintenance Bldg. 9,957 2,884 6,662 4,000 4,000 $ 72 41941 -520 Buildings & Structures $ 731 41941 -810 Refunds /Reimbursements 9 - - $ 74 Total City Hall Operatiga 54,784 56,806 53,547 48,938 48,938 75 76 IT Technology 78 41951 -207 Computer / Supplies 7,260 5,285 6,232 10,000 7,500 $ (2,500) Annual license renewal 79 41951 -210 Operating Supplies 1,500 1 $ 1,500 Hardware /Software 80 41951 -300 Professional Supplies 6,000 $ 6,000 Managed services 81 Facility Assets 11,000 $ 11,000 Wi -Fi to civic center, conference room AV improvements, misc office furniture 821 Total IT Technology 7,260 5,285 6,232 10,000 26,000 16,000 83 84 Engineering 86 43170 -300 1 Professional Services 25,706 41,277 64,143 36,000 36,000 $ 87 Total Engineering 123,377 41,277 64,143 36,000 36,000 $ 88 89 Fire 90 42200 -300 Professional Services 236,742 248,613 1 247,090 250,000 250,000 $ Estimate 911 42200 -550 Motor Vehicles 13,868 18,946 11,258 - - $ 92 42200 -580 Safety Inspections - 1,000 1,000 $ New -Start inspection program 931 Total Fire Servicesl 250,609 1 267,560 1 258,347 251,000 251,000 $ 1 CITY OF CORCORAN 2013 DRAFT BUDGET REV 5 9107/12 DRAFT 11 e. 1le. 2 2013 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2009 ACTUAL 2010 ACUTAL 2011 ACTUAL 2012 BUDGET 2013 BUDGET LSUUUL I DIFFERENCE 201212013 PASS THROUGH PAGE # 94 95 Building Inspections 96 42400 -300 Professional Services 25,973 45,885 36,771 30,000 30,000 $ 97 42400 -437 1 Surcharges 1,141 2,969 2,275 2,500 2,500 $ 98 Total Building Inspections 27,115 48,854 39,046 32,500 32,500 $ 99 100 Recycling 101 43232 -210 Operating Supplies 511 202 1,839 1,000 1,000 $ - 102 43232 -300 Professional Services 64,140 66,339 71,176 63,345 69,000 $ 5,655 43232 -34400 372 103 Total Recycling 64650.64 66,541 73,016 64,345 70,000 $ 5,655 104 105 GRAND TOTAL CITY HALL 725,824 725,083 712,527 712,527 690,182 $ (22,345) 106 107 City Administrator 108 41300 -100 Wages & Salaries 60,325 87,960 79,198 92,141 93,987 $ 1,846 Includes step increase and 2% COLA 109 41300 -121 PERA 4,059 6,161 5,742 6,680 6,814 $ 134 110 41300 -122 FICA/ SS 3,446 4,890 4,387 5,713 5,827 $ 114 111 41300 -126 Medicare 806 1,151 1,019 1,336 1,363 $ 27 112 41300 -130 Employer Paid FSA 175 350 - 350 350 $ - 113 41300 -131 Employer Paid Health 5,872 11,566 9,467 12,671 13,768 $ 1,097 114 41300 -133 Employer Paid HSA - 3,812 $ - 115 41300 -140 Unemployment Compensation 6,345 2,514 $ 116 41300 -208 Training 444 1,567 2,668 2,500 2,500 $ 1171 41300 -210 Operating Supplies 261 - 837 700 700 $ 119 41300 -364 Workers' Compensation 750 903 709 840 840 $ 120 41300 -433 Dues & Memberships 834 834 871 900 900 $ 121 Grand Total City Administrator 113,527 117,895 108,710 123,831 127,049 $ 3,218 122 123 City Clerk / Administrative Staff 124 41400 -100 Wages & Salaries 69,356 115,842 111,141 130,521 117,112 1 $ (13,409) Includes step increase and 2% COLA 125 41400 -110 Overtime 3,293 960 194 2,000 2,000 $ - 1261 41400 -121 PERA 3,958 8,578 8,026 9,608 8,635 $ (973) 127 41400 -122 FICA/ SS 4,558 7,593 7,501 8,217 7,385 $ (832) 128 41400 -126 Medicare 1,150 1,787 1,743 1,922 1,727 $ (195) 129 41400 -130 1 Employer Paid FSA 350 850 700 1,050 700 $ (350) 130 41400 -131 Employer Paid Health 5,020 6,086 6,754 31,678 27,536 $ (4,142) 131 41400 -132 Medical Cafeteria 3,630 8,026 13,369 $ 132 41400 -133 Employer Paid H S A 1,947 1,875 2,081 $ 133 41400 -140 Unemployment Compensation 6,755 3,822 - $ 1341 41400 -208 Training 1,473 725 1,044 2,000 2,000 $ 135 41400 -210 Operating Supplies 180 - 396 500 500 $ 137 41400 -364 Workers' Compensation Insurance 1,164 1,337 1,293 1,411 1,411 $ 138 41400 -433 1 Dues & Memberships 35 160 60 150 150 $ 139 Grand Total Admin Staff 129,112 157,640 154,301 189,057 169,156 $ (19,901) 140 141 Code Enforcement 142 41920 -100 Wages & Salaries 4,617 10,998 39,419 $ 28,421 Includes step increase and 2% COLA 1431 41920 -110 Overtime - - 1,000 $ 1,000 144 41920 -121 PERA 335 797 2,930 $ 2,133 145 41920 -122 FICA/ SS 286 682 2,506 $ 1,824 146 41920 -126 Medicare 67 159 586 $ 427 147 41920 -130 1 FSA Employer - - 350 $ 350 148 41920 -131 Health Insurance 6,336 13,768 $ 7,432 149 41920 -140 Unemployment Compensation $ - 150 41920 -208 Training - $ 1511 41920 -210 Operating Supplies 573 1,500 1,500 $ 152 41920 -331 Vehicle Expense - $ 153 41920 -344 Public Hearing Notices $ 154 41920 -364 Workers' Compensation $ 155 41920 -417 jUniform - 100 100 $ - 156 Grand Total Code Enforcement 5,877 20,572 62,159 $ 41,587 157 158 1591 43190 -300 Em Professional Services $ 160 Total Employee Benefit Chgs $ 161 162 Transfers to /from Other Funds 163 49360 -710 Residual Equity Transfer $ 164 49360 -720 Operating Transfers 14,390 4,842 $ $ - F �j Grand Total Administration 968,462 1,005,460 981,415 1,045,987 1,048,545 $ 2,558 167 I I 1 CITY OF CORCORAN 2013 DRAFT BUDGET REV 5 9107/12 DRAFT 11 e. 1le. 2 2013 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2009 ACTUAL 2010 ACUTAL 2011 ACTUAL 2012 BUDGET 2013 BUDGET DIFFERENCE 2012/2013 PASS THROUGH PAGE # 168 PUBLIC WORKS 1691 PERSONNEL SERVICES 170 43100 -100 Full -time - Regular 273,256 276,057 263,381 280,363 279,203 $ (1,160) Includes 2% COLA increase 171 43100 -110 Full -time - Overtime 19,193 24,077 18,594 19,000 19,380 $ 380 Includes $1,000 for Country Daze 172 43100 -121 PERA 20,638 22,801 19,299 21,704 21,647 $ (57) 173 43100 -122 FICA/ SS 15,915 16,965 15,003 18,561 18,512 $ (49) 174 43100 -126 Medicare 3,835 4,462 3,483 4,341 4,329 $ (12) 175 43100 -130 Employer Paid FSA 1,750 1,750 700 1,750 1,750 $ - 176 43100 -131 Employer Paid Health 36,431 35,885 42,005 63,355 68,839 $ 5,484 1771 43100 -132 Medical Cafeteria 2,059 4,759 5,915 $ - 178 43100 -133 Employer Paid H S A 10,818 11,044 1 11,147 1 $ 180 43100 -140 1 Unemployment Compensation - 589 - $ 181 43100 -364 Workers' Compensation Insurance 21,228 17,974 13,419 15,076 15,076 $ 182 183 43100 -417 Uniforms W Total PW Personnel 5,730 4,950 6,166 7,000 7,000 $ 184 185 186 43100 -200 PW MICS. OPERATING EXPENSES Office Supplies 5 - - $ - 187 43100 -208 Training and Instruction 1,960 1,786 1,780 2,500 4,000 $ 1,500 Training vendor change ?? 188 43100 -210 Operating Supplies 14,549 20,026 13,120 20,000 20,000 $ - 189 43100 -212 Motor Fuels 24,822 30,382 38,721 32,000 32,000 $ 190 43100 -220 Repair/ Main. Supplies 21,962 19,065 85,941 20,000 20,000 $ 191 43100 -223 Building Repair 649 50,711 7,748 6,500 4,500 $ (2,000) 192 43100 -300 1 Professional Services 2,100 2,100 2,100 2,100 2,100 $ - 193 43100 -321 Telephone 3,537 3,941 3,823 3,600 5,600 $ 2,000 1941 43100 -360 Insurance - 3,645 - $ - 195 43100 -380 Utility services 9,072 7,142 8,103 9,000 9,000 $ 196 43100 -810 Refunds /Reimbursements - - $ 197 Total PW 97,200 $ 198 199 CITY OPERATING SERVICES 200 43100 -222 Seal Coating - 52,440 50,088 50,000 50,000 $ 201 43100 -225 Land Scape /Ditch Maintenance 4,841 8,305 9,100 10,000 10,000 $ 2021 43100 -226 Sign Repair Material 1,901 3,415 1,695 6,000 6,000 $ 203 43100 -227 Crack Filling 20,303 10,667 15,338 16,000 10,000 $ (6,000) 204 43100 -228 Dust Control 92,601 75,338 98,033 90,000 100,000 $ 10,000 based on past experience - may change with council decision 43100 -34301 $70,000 364 205 43100 -229 Culverts 1,925 6,242 10,081 7,000 13,000 $ 6,000 207 43100 -231 Drain Tile 2,416 - - $ - 208 43100 -232 Gravel 93,461 103,078 95,049 130,000 130,000 $ 209 43100 -233 Asphalt/Maintenance patching 111,903 143,687 123,719 130,000 130,000 $ - 210 43100 -381 Signal Lights /street lights 2,286 2,412 2,035 3,000 3,500 $ 500 2111 Total PW Operating 332,281 405,586 442,000 452,500 $ 10,500 212 PARKS PERSONNEL SERVICES 213 45200 -100 Wages and Salaries 16,213 15,498 14,480 28,128 27,345 $ (783) 214 45200 -110 Overtime 54 1,083 - - - $ - 215 45200 -121 PERA - $ - 216 45200 -122 FICA/ SS 999 983 843 1,744 1,695 $ (49) 217 45200 -126 Medicare 245 231 197 408 397 $ (11) 218 45200 -130 Employer Paid FSA - - - - $ - 2191 45200 -131 Employer Paid Health - - - - $ 220 1 45200 -364 Workers' Compensation Insurance 160 2,600 3,799 1 4,493 4,493 $ 221 Total Parks Personnel 17,671 19,319 ,773 33,930 $ 222 PARKS - MISC. OPERATING EXPENSES PARKS 223 45200 -210 Operating Supplies 7,794 8,087 5,595 8,000 8,000 $ 224 45200 -220 Repair/ Main. Supplies 19 255 330 1,100 1,100 $ 225 45200 -221 Maintenance Project 7,461 9,457 7,144 15,000 15,000 $ 226 45200 -300 Professional Services - - $ 2271 45200 -321 Telephone 680 721 750 700 700 $ 228 45200 -380 Utility services 6,243 5,769 4,023 7,100 7,100 $ 229 45200 -530 Improvements Other than Bldg 48,450 35,903 35,823 35,823 35,823 $ NW Trails Snowmobile Club expense $35,823 45200 -33422 $35,823 375 230 45200 -810 Refunds /Reimbursements - $ 231 Total Parks Operating 70,647 60,191 53,665 67,723 67,723 $ 232 233 Total Parks 88,318 80,586 72,984 102,496 101,653 $ (843) 234 2351 Ice & Snow Removal 236 43125 -210 Snow and Ice Removal 28,450 32,703 1 21,412 1 29,000 29,000 $ - Salt and Sand 43125 -36200 $8,010 369 237 Total Snow & Ice 28,450 32,703 21,412 29,000 29,000 $ 238 239 GRAND TOTAL PUBLIC WORKS & PARKS 1,006,960 1,145,529 1,132,997 1,164,691 1,186,089 $ 21,398 240 1 CITY OF CORCORAN 2013 DRAFT BUDGET REV 5 9107/12 DRAFT 11 e. 1le. 2 2013 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2009 ACTUAL 2010 ACUTAL 2011 ACTUAL 2012 BUDGET 2013 BUDGET DIFFERENCE 2012/2013 PASS THROUGH PAGE # 241 POLICE 242 PERSONNEL SERVICES 243 POLICE 244 42100 -100 Wages (Union) 460,839 492,602 434,520 505,745 334,681 $ (171,064) 2% COLA 245 42100 -101 Salaries 181,171 $ 181,171 246 42100 -110 Overtime 12,680 8,870 9,796 9,500 9,500 $ Includes $1,000 for Country Daze /Lieutenant not eligible for OT or Holiday Cash 247 42100 -111 Overtime Events 14,880 12,285 12,459 15,000 15,000 $ Pass thru funds only /no Motocross/ No Rockin Rogers 42100 - 33620/34201 $15,000 351/353 248 42100 -121 PERA 73,720 75,120 65,491 76,043 77,570 $ 1,527 249 42100 -122 FICA/ SS (123) $ 250 42100 -126 Medicare 7,242 7,443 6,788 7,657 7,811 $ 154 251 42100 -130 Employer Paid FSA 2,389 2,450 414 2,450 2,450 $ 252 42100 -131 Employer Paid Health 24,328 34,167 36,189 39,283 42,699 $ 3,416 253 42100 -132 Medical Cafeteria 29,954 25,863 32,957 31,266 33,985 $ 2,719 254 42100 -133 Employer Paid H S A 7,500 9,376 10,404 9,621 11,297 $ 1,676 255 42100 -134 Employer Paid HRA 1,875 $ 256 42100 -364 Workers' Compensation 18,945 26,979 24,787 29,065 24,000 $ (5,065) 257 TOTAL 695,155 633,805 725,630 740,164 $ 14,534 258 PART TIME 259 42101 -100 Wages and Salaries 42,226 64,661 61,322 76,325 78,100 $ 1,775 $.50 increase per hour 261 42101 -111 Overtime Events 1,810 2,162 3,548 - $ - Pass thru only -PT officer works events if no full time officer available -funds from 42100 -111 262 42101 -121 PERA 927 4,290 1,804 2,500 2,500 $ - 263 42101 -122 FICA/ SS 2,522 3,887 1,792 4,732 4,842 $ 110 264 42101 -126 Medicare 646 969 928 1,107 1,132 $ 25 265 42101 -140 Unemployment Comp - 1,151 - $ - 2661 TOTAL 48,130 75,969 70,544 1 84,664 86,574 $ 1,910 267 POLICE ADMIN JL- 268 42102 -100 Wages and Salaries 35,263 36,549 33,963 40,248 42,328 $ 2,080 Clerk final step pay and 2% COLA 269 42102 -110 Overtime - 500 500 $ 270 42102 -121 PERA 2,639 2,796 2,454 2,954 3,105 $ 151 PT officers who are employed as full time at home agency are PERA eligible 271 42102 -122 FICA/ SS 2,385 2,499 2,354 2,526 2,655 $ 129 272 42102 -126 Medicare 564 588 547 591 621 $ 30 273 42102 -130 Employer Paid FSA 350 350 350 350 350 1 $ 2741 42102 -131 Employer Paid Health 1,322 164 1,324 1,300 3,430 $ 2,130 275 42102 -132 Medical Cafeteria 3,897 4,616 4,731 5,200 2,730 $ (2,470) 276 TOTAL 46,420 47,563 45,722 53,669 55,719 $ 2,050 277 278 SUPPLIES 279 42100 -200 Office Supplies 5,405 4,670 3,819 5,000 5,000 $ - 280 42100 -201 Postage 844 465 483 500 500 $ 281 42100 -208 Training Classes and Supplies 5,603 9,706 12,125 10,000 10,000 $ 282 42100 -209 Police Reserves Equipment 3,747 2,806 2,401 3,500 3,500 $ 283 42100 -210 Patrol Supplies 2,975 3,434 2,950 3,500 3,500 $ 284 42100 -212 Motor Fuels 22,191 30,805 36,661 34,000 34,000 $ 285 42100 -417 Clothing and Uniforms 5,936 6,909 6,368 8,460 8,460 $ 286 42100 -433 Dues and Memberships 1,174 1,065 790 1,000 1,000 $ 287 42100 -810 1 Refunds /Reimbursements - - $ 288 289 TOTAL 47,874 --w-'598 ,960 65,960 $ 290 CONTRACTUAL SERVICES A ML 291 42100 -220 Maintenance - Motor Vehicle 10,257 9,066 12,788 8,000 8,000 $ 292 42100 -223 Building Maintenance and Repairs 1,365 3,268 2,318 3,000 3,000 $ 293 42100 -300 Professional - Animal Control 507 546 500 500 $ 294 42100 -301 Prisoner - Professional Fees 11,824 3,065 4,445 8,000 8,000 $ 295 42100 -304 Legal Services 33,240 28,757 31,689 30,000 30,000 $ 296 42100 -321 Telephone 4,403 4,939 5,124 7,200 7,200 $ 297 42100 -323 Radio Units 12,248 12,543 10,683 15,300 15,300 $ 298 42100 -380 jUtility Services / Civil Defense /Emergency Management 2,692 3,074 2,771 4,000 4,000 $ 299 TOTAL 76,537 64,713 70,363 76,000 76,000 $ 300 301 GRAND TOTAL POLICE 873,193 943,260 886,032 15005,923 1,024,417 18,494 302 303 304 OMBINED DEPARTMENT TOTAL EXPENDITURES 2,848,615 3,094,249 1 3,000,444 3,216,601 3,259,052 $ 429451 1 CITY OF CORCORAN 2013 DRAFT BUDGET REV 5 9/07/12 DRAFT 11 e. 1le. 2 2013 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2009 ACTUAL 2010 ACUTAL 2011 ACTUAL 2012 BUDGET 2013 BUDGET DIFFERENCE 201212013 PASS THROUGH PAGE # 305 3061 Debt Service 307 Equipment Certificate Fund # 309 & 416 308 2006 & 2008 & 2010 Certificates 314 Principal & Interest 148,649 244,561 264,478 220,170 161,689 315 Required 5% overage 7,432 12,228 13,224 11,009 8,084 316 Total 156,081 256,789 277,702 231,179 169,773 $ (61,405) 324 325 Facility Expansion (PD) #307 & #407 328 Principal & Interest 41,720 41,404 41,830 41,412 40,828 329 Required 5% Overage 2,086 2,070 2,092 2,071 2,041 330 Total 43,806 43,474 43,922 43,483 42,869 $ (614) 331 332 Facility Expansion (Public Works) 333 Principal & Interest 43,405 334 Required 5% Overage 2,170 3351 Total 45,575 336 337 Equipment Certificate Fund # 309 & 416 338 2012 Certificates 339 Principal & Interest 47,036 $ 47,036 340 Required 5% overage 2,352 341 Total 49,388 342 3431 COMBINED DEBT SERVICE EXPENDITURES 199,887 1 300,263 1 321,623 1 274,662 307,606 $ 32,944 344 1 CITY OF CORCORAN 2013 DRAFT BUDGET REV 5 9/07/12 DRAFT 11 e. 1le. 2 2013 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2009 ACTUAL 2010 ACUTAL 2011 ACTUAL 2012 BUDGET 2013 BUDGET DIFFERENCE 2012/2013 PASS THROUGH PAGE # 345 REVENUES 2009 ACTUAL 2010 ACTUAL 2011 ACTUAL 2012 BUDGET 2013 BUDGET BUDGET DIFFERENCE 2012/13 346 GENERAL FUND REVENUE - 347 348 GENERAL GOVERNMENT $ 349 41900 -31810 Cable Franchise Fee 33,326 34,674 37,253 32,000 35,000 $ 3,000 350 41900 -32110 Liquor Licenses Fees 18,420 18,260 18,260 18,200 18,250 $ 50 351 41900 -33402 Homestead Credit 1,772 1,515 $ - 352 41900 -33403 Mobile Homestead Credit - - - $ 353 41900 -33420 AG Preserve Credit 1,873 3,306 4,789 - $ 354 41900 -33421 PERA State Aid 1,845 1,845 1,845 1,845 1,845 $ 355 41900 -33422 Other Grants and Aid 32,000 28,630 17,370 - $ Past years: DNR, 1000 Friends, Met Council 356 41900 -34000 Charges for Services 50 400 65 $ 357 41900 -34103 Zoning / Subdivision Fees 7,545 5,410 6,265 5,000 6,000 $ 1,000 358 41900 -34105 Copies/ Maps 80 303 152 100 150 $ 50 359 41900 -34107 Assessment Search 25 25 75 50 50 $ - 360 41900 -34108 TIF Administrative Fees 16,000 22,000 8,000 8,500 12,000 $ 3,500 362 41900 -34405 Clean up day Income 1,473 963 1,060 1,000 1,000 $ - 363 41900 -36200 Miscellaneous Revenue 6,629 5,381 7,695 1,000 2,500 $ 1,500 $260.00 Wetland Buffer Signs, $25.00 Fireworks Permit 364 41900 -36210 Interest Earnings 6,271 4,443 4,071 6,000 3,000 $ (3,000) 365 41900 -36217 Sale of Assets 19,400 - - - $ - 366 41900 -36220 Rents / Royalties 4,746 7,812 7,812 3,750 10,848 $ 7,098 Crop Rentals 367 41900 -36230 1 Donations 900 1,975 1,175 - 1,100 $ 1,100 T800.00 Newsletter advertising 368 41900 -36233 1 Refunds /Reimbursements 1,705 - - - $ - 372 CITY HALL OPERATIONS $ 373 41941 -34100 General Government - - $ 374 41941 -34101 lFacility Rental 3,043 3,165 4,443 4,500 4,500 $ - 375 41941 -36200 IMiscellaneous Revenue 577 1,456 2,778 - 1,000 $ 1,000 376 PUBLIC SAFETY $ - 377 42100 -32240 Animal Licenses 224 8 - - $ 378 42100 -33423 Police Town Aid 47,258 46,328 46,565 47,000 47,000 $ - 379 42100 -33424 Police Training & POST 4,361 3,585 3,787 4,000 3,500 $ (500) 380 42100 -33620 Other Grants and Aid /Safe & Sober 11,271 10,321 11,248 10,000 10,000 $ - Pass through only - Local traffic project 42100 - 111/42101 -111 $10,000 248 381 42100 -34200 Police Permits 1,650 1,685 1,755 1,500 1,500 $ 382 42100 -34201 Police Service Charge 7,800 8,400 5,848 5,000 5,000 $ 42100- 111/42101 -111 $5,000 248 383 42100 -34202 Police Reports / Misc. Fees 1,310 1,699 1,086 1,500 1,500 $ 384 42100 -34204 Police Training - 474 - - $ 385 42100 -35101 Fines 104,001 110,389 106,500 90,000 90,000 $ 386 42100 -36230 Donations - - 1,345 - $ 387 42100 -36233 Refunds /Reimbursements 12,077 - - $ 388 BUILDING INSPECTION $ 389 42400 -32210 IBuilding Permit Fees 47,879 77,358 83,590 60,000 50,000 $ (10,000) 42400 -300 $36,771 93 390 PUBLIC WORKS $ 391 43100 -33418 MSA Road Maint. Fund 100,722 84,891 129,364 130,000 130,000 $ 392 43100 -34300 Public Works Permits / Fees 2,830 1,535 3,845 3,000 3,000 $ 393 43100 -34301 Dust Control 72,147 77,854 78,888 55,530 55,530 $ 43100 -228 $70,000 203 395 43100 -36200 Miscellaneous Revenue 70,272 72,521 - - $ 396 43100 -36233 Refunds /Reimbursements 132 - - $ 397 ICE & SNOW REMOVAL $ 398 43125 -36200 Miscellaneous Revenue 8,010 $ 43125 -210 N/A 2012 399 RECYCLING $ 400 43232 -33610 County Recycling Grant 15,834 16,474 14,551 14,500 14,500 $ - 401 43232 -34400 Recycling Income 59,971 66,946 70,965 65,000 69,000 $ 4,000 Contract increase /fee increase 402 43232 -36200 Miscellaneous Revenue 6 $ - 403 PARKS $ 404 45200 -33422 Other State Grant 48,450 35,823 35,823 35,823 35,823 $ Snowmobile trail grant 45200 -530 $35,823 230 405 45200 -34101 Facility Rental 1,018 1,165 1,311 1,000 1,000 $ 406 45200 -36200 Miscellaneous Revenue 105 45 $ 407 45200 -36230 Donations 3,895 1,320 - $ 408 45200 -36233 Refunds /Reimbursements 26 - $ 409 TRANSFERS TO /FROM OTHER FUNDS $ 410 49360 -39200 Transfer from Other Fund - 16,426 - $ 411 412 TOTAL OTHER REVENUES 696,639 777,475 801,473 605,798 614,596 8,798 413 414 41900 -31020 Delinquent Property Taxes 27,615 76,178 40,730 40,000 40,000 $ - 415 41900 -31040 Fiscal Disparities 145,787 178,897 205,805 - - $ 416 41900 -31050 Property Tax Unallotment - $ - 417 41900 -31100 General Property Taxes 2,052,748 2,092,929 2,124,825 2,506,458 2,604,456 $ 97,998 418 419 TOTAL GENERAL FUND TAX LEVY /REVENUE 2,922,790 2,348,003 2,371,360 2,546,458 2,644,456 $ 97,998 420 421 TOTAL DEBT SERVICE TAX LEVY 199,887 300,263 321,623 274,662 307,606 422 423 TOTAL ALL REVENUES 3,619,429 3,125,478 3,172,833 3,426,918 3,566,658 106,796 424 425 TOTAL ALL EXPENSES 3,048,502 3,394,512 3,322,067 3,491,263 3,566,658 $ 75,395 426 427 428 REVENUE-EXPENSE 570,927 (269,034) (149,234) (64,345)1 0 64,345 429 * *These are monies available for the Reserve Funds 12b. City of Corcoran September 13, 2011 County of Hennepin State of Minnesota RESOL UTION NO. 2012 -44 MOTION BY MEMBER: SECONDED BY MEMBER: RESOLUTION ADOPTING PRELIMINARY PROPOSED TAX LEVY COLLECTIBLE IN 2013 BE IT RESOLVED, by the Council of the City of Corcoran, County of Hennepin, State of Minnesota, does hereby declare that the following sums of money be levied for the budget year 2013, collectible in 2013, for the following purposes: General Property Tax Levy $ 2,604,456 Equipment Certificate Debt 200" $ 25,142 Equipment Certificate Debt 2008A $ 80,600 Equipment Certificates Debt 2010A $ 64,033 Equipment Certificates Debt 2012A $ 49,389 Facility Expansion Debt — Public Safety $ 42,869 Facility Construction Debt — PW $ 68,250 For a Total Levy of $ 2,934, 739 FURTHER BE IT RESOLVED that the Council does hereby designate the following dates for the Truth in Taxation Public Hearings: Original Hearing — December 13, 2012, 7:00 pm. Reconvened Hearing (if necessary) — December 20, 2012, 7:00 pm VOTING AYE ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn VOTING NAY ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn Whereupon, said Resolution is hereby declared adopted on this 13th day of September 2012. Kenneth Guenthner - Mayor ATTEST: City Seal Jeanie Heinecke — City Clerk ADMINISTRATOR'S REPORT Agenda Item No. 12b. Council Meeting: Prepared By: September 13, 2012 Dan Donahue, Administrator Topic: Action Required: Resolution 2012 -45, Requesting the Met Approve Resolution Council to Study Wastewater Flows for Region Policy: Plan for future wastewater infrastructure in the region Budget Impact: None. Cost borne by Met Council Summary: The proposed resolution was taken from a resolution passed by the City of Medina. This asks that the cities in the study area (figures attached) mentioned area have future sanitary sewer needs and flows to be studied by the Met Council. The study will look into the future sewer flow (south to Maple Plain, north to Rogers, or east through the Elm Creek Interceptor). This information is needed by the cities to make planning decisions for future infrastructure. Since the south west corner of Corcoran could (and probably will in the future) be incorporated by these sewer systems, it is wise to be included in the study The resolution also supports studying the City of Loretto sewer flows because of the timelines to phase out their current sewer system. Finally, the resolution asks for the Met Council to consider taking over the sanitary sewer pipe from the City of Medina. Medina has been maintaining the pipe since it was installed in the 1970's, but the pipe is being used and will be used in the future by a number of cities including Corcoran. Therefore, Medina is asking the Met Council to take the pipe over as part of their regional system. If the Met Council takes over the sewer system, then cities will go through the Met Council directly for sewer units and it would not require the permission of the other cities in the Tri -City Agreement. It appears that the Met Council is moving forward with the study in 2013 with or without cities like Greenfield's approval (they for whatever reason may be wavering) or Corcoran's approval of the resolution. The resolution is meant to give the Met Council assurances that we know of the study and we will participate when asked to do so. Administrator's Report— Agenda Item 12c., September 13, 2012 Council Meeting Page 2 There is no cost to the city other than some staff and engineering time which is estimated to be minimal. E Ei -11j ijH- fj MW MW qW 1W qW CN�.f CORC0RAN 2030 Comprehensive Plan Trunk Sanitary Sewer SW Area Figure 19 0 Sewer Node Forcemain �R►° Gravity Sewer 11001, MCES Interceptor = Sewer Subdistricts 1 City Limit Parcel Base Map I\�7\,� C `� r 0 1500 r� I I I I Bonestroo April 2009 I: /504 /50408144 /GIS /ComPlan /Ma s/ Final Maps /sw sanitary map.mxa 4 I � � -11j ijH- fj MW MW qW 1W qW CN�.f CORC0RAN 2030 Comprehensive Plan Trunk Sanitary Sewer SW Area Figure 19 0 Sewer Node Forcemain �R►° Gravity Sewer 11001, MCES Interceptor = Sewer Subdistricts 1 City Limit Parcel Base Map I\�7\,� C `� r 0 1500 r� I I I I Bonestroo April 2009 I: /504 /50408144 /GIS /ComPlan /Ma s/ Final Maps /sw sanitary map.mxa City of Corcoran County of Hennepin State of Minnesota RESOLUTION NO. 2012 -45 September 13, 2012 12b. RESOLUTION REQUESTING METROPOLITAN COUNCIL TO STUDY INTERCEPTOR SERVICE FOR LORETTO, INDEPENDENCE, GREENFIELD, NORTHWEST MEDINA, AND WESTERN CORCORAN WHEREAS, the city of Corcoran (the "City ") is a municipal corporation, organized and existing under the laws of Minnesota; and WHEREAS, the Metropolitan Council owns and operates the Metropolitan Disposal System (MDS) which provides wastewater collection and treatment services to communities within the seven - county metropolitan area, including the cities of Medina, Independence, Greenfield, and Corcoran; and WHEREAS, the city of Loretto plans to connect to the MDS in the future in order to meet certain water quality mandates; WHEREAS, the cities of Medina, Independence, and Greenfield currently discharge wastewater to an MDS interceptor at L63 in the city of Maple Plain; and WHEREAS, the City of Corcoran will most likely discharge wastewater to an MDS interceptor at L63 in the future; and WHEREAS, the Metropolitan Council intends to study certain capital improvements to L63 and the corresponding interceptor(s); and WHEREAS, the Metropolitan Council has also identified the cities of Medina, Independence, Greenfield, Corcoran, and Loretto as part of a study to be potentially served by a future wastewater treatment facility in or around the city of Rogers; and WHEREAS, the Metropolitan Council has authorized collection of wastewater from the city of Loretto, from future development in the northwest portion of the city of Medina, and from future development in the southwest portion of the city of Corcoran through the Elm Creek Interceptor; and WHEREAS, the Metropolitan Council has identified potential future capacity concerns with the Elm Creek Interceptor; and WHEREAS, the sanitary sewer line located along County Road 19 currently serves two communities outside of the city of Medina, with the possibility of serving the city of Loretto being considered as well; and Page 1 of 2 WHEREAS, it is imperative that the Metropolitan Council inform the cities where and when interceptors are planned to be constructed so that the cities can efficiently plan, construct and operate an efficient wastewater system. NOW, THEREFORE BE IT RESOLVED, by the City Council of The City of Corcoran, Corcoran Minnesota that the City does hereby request the following: 1) The City requests the Metropolitan Council to, during the study of potential capital improvements to L63, expeditiously study the short-term and long -term wastewater flows from the cities of Medina, Independence, Greenfield, Loretto, and Corcoran in order to provide guidance to the cities for future infrastructure planning. 2) The City requests that this study include the potential of directing wastewater from the city of Loretto to L63 until such time as such wastewater may be directed to the Elm Creek Interceptor or a future MCS interceptor. 3) The City requests that this study include a potential MDS interceptor along County Road 19, in recognition of the fact that this line may serve four separate cities and, therefore, is of regional importance. VOTING AYE ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn VOTING NAY ❑ Guenthner, Ken ❑ Asleson, Rich ❑ Cossette, Tom ❑ Gmach, George ❑ Milbrandt, Rosalyn Whereupon, said Resolution is hereby declared adopted on this 13th day of September 2012. Kenneth Guenthner - Mayor ATTEST: City Seal Jeanie Heinecke — City Clerk CLAIMS LISTING CHECK RANGE 19997 - 20042 Agenda Item: 13a. Paid to Carson, Clelland & Schreder Carson, Clelland & Schreder Wenck Associates Wenck Associates Wenck Associates Total Agenda Item: Agenda Item Date 8/17/12 8/23/12 8/24/12 8/24/12 8/27/12 8/24/12 8/24112 8/27/12 8/28/12 9/4/12 9/6/12 Total 13b Paid To NONE Agenda Item 13 a -c. Council Meeting Date: 9/13/2012 Prepared By: jheinecke FUND #500 Escrow Claims Amount Project name 210.00 MTP West Acres 12 -006 303.33 Schmids Hidden Valley 12 -016 193.00 Valley Paving Grading 297.50 Bakke Grading 178.50 Hope Ministries 1,182.33 7,837.46 Citi Street - 457 Deferred Comp Total Funds #500 = Citi Street - Health Care Savings (See attached Check Detail Register) Building Inspection Claims Blue Cross Blue Shield Amount The Hartford Total Building Inspections Claims = (See attached Check Detail Register) 13c. All Other Claims (See attached Check Detail Register) Total of Auto Deductions TOTAL EXPENDITURES FOR APPROVAL 13c. Auto Deductions / Electronic Fund Transfer 1 Other Disbursements Paid to Amount Mn Dept Rev -Fuel Tax 86.07 Net Pay PR 17 30,762.70 Payroll Taxes 10,806.28 Paychex Fee 241.23 PERA 7,837.46 Citi Street - 457 Deferred Comp 2,897.00 Citi Street - Health Care Savings 1,515.23 US Bank - H S A 1,403.70 Blue Cross Blue Shield 8,545.00 The Hartford 342.05 Net Pay PR18 34,304.82 98,741.54 $ 1,182.33 $ 356,520.64 98,741.54 $ 456,444.51 H:1City Hall InformationlCITY GOVERNMENT1Council, Commissions & Comm ittees\Cou ncil Information\Council Claims12012 Claims.xls CORCORAN, MN 09/07/1211:05 AM Cash Balances Page 1 Current Period: September 2012 FUND Descr Account MTD Debit MTD Credit Current Balance Cash GENERAL FUND G 100 -10100 $16.70 $46,915.22 $167,163.24 RESERVES DONATION FUND G 201 -10100 $0.00 $870.30 $26,460.42 POLICE DONATION FUND G 202 -10100 $0.00 $87.24 $1,684.46 FIREARMS SAFETY G 204 -10100 $0.00 $0.00 $13,041.17 DWI FORFEITURE FUND G 205 -10100 $0.00 $0.00 $11,599.21 DRUG FORFEITURE FUND G 206 -10100 $0.00 $0.00 $1,168.12 TRUCK SAFETY G 207 -10100 $0.00 $0.00 $3,346.29 ASPHALT MAINTENANCE G305 -10100 $0.00 $0.00 $71,423.30 POLICE CAPITAL FUND G 308 -10100 $0.00 $23,211.35 $39,715.09 D /S- EQUIPMENT CERTS G 309 -10100 $0.00 $0.00 $79,388.50 CO. RD. 19 IMPROVEMENT G 310 -10100 $0.00 $0.00 $134,088.12 TAX INCREMENT FINANCING G 401 -10100 $0.00 $229,477.55 $2,525,441.69 INFRASTRUCTURE PLANNING G 402 -10100 $0.00 $0.00 - $1,879.58 FACILITY EXPANSION D/S G 407 -10100 $0.00 $0.00 - $15,680.74 PW CAPITAL FUND G 410 -10100 $0.00 $0.00 $1,311.23 PARK CAPITAL FUND G 415 -10100 $0.00 $0.00 $332,535.99 CAPITAL - EQUIPMENT CERTS G 416 -10100 $0.00 $0.00 - $307,065.64 SHANNON LANE G 417 -10100 $0.00 $0.00 $9,367.21 ESCROW HOLDING FUND G 500 -10100 $0.00 $1,182.33 $23,834.20 CIVIC ORGANIZATIONS G 501 -10100 $0.00 $0.00 $6,000.09 INVESTMENT CONTROL G 999 -10100 $0.00 $0.00 $47.85 Total Cash $16.70 $301,743.99 $3,122,990.22 Farmers Savings Acct PARK CAPITAL FUND G 415 -10102 $0.00 $0.00 $10,656.03 Total Farmers Savings Acct $0.00 $0.00 $10,656.03 Change in Market Value GENERAL FUND G 100 -10105 $0.00 $0.00 $6,168.30 Total Change in Market Value $0.00 $0.00 $6,168.30 Grand Total --j $16.70 - 301,743.99 $3,139,814.55 CORCORAN, MN *Check Detail Register© August 2012 to September 2012 Check Amt Invoice Comment 10100 Farmers State Bank Paid Chk# 019997 8/23/2012 JPC CUSTOM HOMES E 100- 41920 -300 Professional Srvs (GENERAL) $475.68 071912 20112 CO RD 10 Total JPC CUSTOM HOMES $475.68 Paid Chk# 019998 8/23/2012 STANLEY /SHARON CHASTEK $87.07 E 401 - 41900 -530 Improvements Other Than Bldgs ($55,500.00) EASEMENT SWUP E401-41900-530 Improvements Other Than Bldgs $_55,500.00 111 EASEMENT SWUP Total STANLEY /SHARON CHASTEK $0.00 O Paid Chk# 019999 8/28/2012 STANLEY /SHARON CHASTEK Insurance Premium E 401 - 41900 -530 Improvements Other Than Bldgs $55,500.00 EASEMENT SWUP EASEMENT Total STANLEY /SHARON CHASTEK $55,500.00 Insurance Premium Paid Chk# 020000 9/13/2012 ABDO, EICK & MEYERS, LLP $30.61 E 401 - 41900 -300 Professional Srvs (GENERAL) $595.00 298847 TIF DISTRICT REPORT Total ABDO, EICK & MEYERS, LLP $595.00 & SCHREDER Paid Chk# 020001 9/13/2012 ADAMS PEST CONTROL, INC. E 100 - 41600 -300 E 100-41941-210 Operating Supplies (GENERAL) $84.97 470130 Pest Control Quarterly Service Total ADAMS PEST CONTROL, INC. $84,97 Legal Fees Paid Chk# 020002 9/13/2012 ASSURANT EMPLOYEE BENEFITS E 100 - 43100 -131 Employer Paid Health $87.07 090112 Insurance Premium E 100 - 42102 -131 Employer Paid Health $12.59 090112 Insurance Premium E 100 - 41400 -131 Employer Paid Health $47.90 090112 Insurance Premium E 100 - 42100 -131 Employer Paid Health $167.30 090112 Insurance Premium E 100 - 41300 -131 Employer Paid Health $30.61 090112 Insurance Premium Total ASSURANT EMPLOYEE BENEFITS $345.47 & SCHREDER Paid Chk# 020003 9/13/2012 AVENET, LLC E 100 - 41130 -354 Web Site $700.00 31353 WEBSITE ANNUAL HOSTING Total AVENET, LLC $700.00 Paid Chk# 020004 9/13/2012 BURNS RYAN E 202 - 42100 -210 Operating Supplies (GENERAL) $87.24 082412 SUPPLIES Total BURNS RYAN $87,24 Paid Chk# 020005 9/13/2012 CARSON, CLELLAND & SCHREDER E 100 - 41600 -300 Professional Srvs (GENERAL) $629.99 083112 PUBLIC WORKS FACILITY E 205 - 42100 -304 Legal Fees $0.00 083112 VEHICLE FORFEITURE E 401 - 41900 -300 Professional Srvs (GENERAL) $2,286.67 083112 SEWER WATER E 100 - 41600 -300 Professional Srvs (GENERAL) $1,415.00 083112 CIVIL -LEGAL E 100 - 42100 -304 Legal Fees $1,338.76 083112 CRIMINAL G 500 -20286 MTP West Acres 12 -006 $210.00 083112 LEGAL 12 -006 E 100- 41600 -300 Professional Srvs (GENERAL) $70.00 083112 HAZARDOUS BUILDING G 500 -20294 Schmids Hidden Valley 2nd 12 -0 $303.33 083112 LEGAL -12 -016 E 100 - 41600 -300 Professional Srvs (GENERAL) $70.00 083112 MOONLIT DRIVEWAY 09/07/12 10:53 AM Page 1 CORCORAN, MN *Check Detail Register© Paid Chk# 020011 9/13/2012 FRANCOTYP- POSTALIA INC E 100- 41941 -201 August 2012 to September 2012 $135.01 R1101204055 QTRLY METER LEASE Total FRANCOTYP - POSTALIA INC. Check Amt Invoice Comment Total CARSON, CLELLAND & SCHREDER $6,323.75 Repair /Maint Supply (GENERAL) Paid Chk# 020006 9/13/2012 CASH GARY S DIESEL SERVICE INC $300.56 E 100 - 43100 -212 Motor Fuels $19.00 082812 DUPLICATE TITLE R 100 - 41900 -34105 Copies /Maps ($11.30) 082812 COPIES E 100-41941-400 Repairs & Maint Cont (GENERAL $10.47 082812 CARPET CLEANER E 100 -41941 -201 Postage /Shipping ($5.40) 082812 POSTAGE PURCHASED Total CASH $12.77 Paid Chk# 020007 9/13/2012 CDW GOVERNMENT E 308 - 42100 -207 Computer Supplies $167.26 P631292 RMS PROJECT SUPPLIES Total CDW GOVERNMENT $167.26 Paid Chk# 020008 9/13/2012 CENTURY LINK E 100 - 45200 -321 Telephone $52.84 082112 LAND LINE Total CENTURY LINK $52.84 Paid Chk# 020009 9/13/2012 COMCAST- 902943336 E 100 - 41941 -321 Telephone $117.45 22675291 LAND LINE E 100 - 42100 -321 Telephone $117.46 22675291 LAND LINE E 100- 43100 -321 Telephone $117.46 22675291 LAND LINE Total COMCAST- 902943336 $352.37 Paid Chk# 020010 9/13/2012 DANBURY IT E 100 - 41951 -207 Computer Supplies $652.50 10901 ANNUAL SPAM GUARD SERVICE Total DANBURY IT $652.50 Paid Chk# 020011 9/13/2012 FRANCOTYP- POSTALIA INC E 100- 41941 -201 Postage /Shipping $135.01 R1101204055 QTRLY METER LEASE Total FRANCOTYP - POSTALIA INC. $135.01 Paid Chk# 020012 9/13/2012 GARY S DIESEL SERVICE INC E 100 - 43100 -220 Repair /Maint Supply (GENERAL) $300.56 17233 REPAIR Total GARY S DIESEL SERVICE INC $300.56 Paid Chk# 020013 9/13/2012 GORMLEY, SEAN EMPLOYER PAID HEALTH E 100 - 42100 -130 Employer Paid FSA $350.00 082912 REIMBURSEMENT Total GORMLEY, SEAN $350.00 Paid Chk# 020014 E 100 - 42100 -131 E 100 - 42102 -131 E 100 -41400 -131 E 100 - 41300 -131 E 100 - 43100 -131 E 100 - 41300 -131 E 100-42100-131 E 100- 41400 -131 E 100 - 43100 -131 9/13/2012 HEALTH PARTNERS Employer Paid Health Employer Paid Health Employer Paid Health Employer Paid Health Employer Paid Health Employer Paid Health Employer Paid Health Employer Paid Health Employer Paid Health $67.60 41249436 EMPLOYER PAID HEALTH $98.74 41249436 EMPLOYER PAID HEALTH $33.80 41249436 EMPLOYER PAID HEALTH $60.40 41249436 EMPLOYER PAID HEALTH $154.60 41249436 EMPLOYER PAID HEALTH $60.40 41251064 EMPLOYER PAID HEALTH $67.60 41251064 EMPLOYER PAID HEALTH $33.80 41251064 EMPLOYER PAID HEALTH $154.60 41251064 EMPLOYER PAID HEALTH 09/07/12 10:53 AM Page 2 CORCORAN, MN *Check Detail Register© August 2012 to September 2012 Check Amt Invoice Comment E 100-42102-131 Employer Paid Health $98.74 41251064 EMPLOYER PAID HEALTH Total HEALTH PARTNERS $830.28 Paid Chk# 020015 9/13/2012 HENN CTY INFO TECH E 100- 42100 -323 Radio Units $48.09 ITC1017 CAD VISOR CONNECTION FEE SUPPLIES Total HENN CTY INFO TECH $48.09 $7.74 Paid Chk# 020016 9113/2012 HENNEPIN COUNTY AR Operating Supplies (GENERAL) E 100 -42100 -301 Prisoner $75.00 20040 HCSO BOOKING FEE Operating Supplies (GENERAL) Total HENNEPIN COUNTY AR $75.00 SUPPLIES Paid Chk# 020017 9/13/2012 HOLIDAY STATION STORES $3.67 E 100- 42100 -220 Repair /Maint Supply (GENERAL) $125.00 072312 PRE PAID CAR WASH Total HOLIDAY STATION STORES $125.00 Paid Chk# 020018 9/13/2012 INDELIBLE INC E 100- 41941 -200 Office Supplies (GENERAL) $635.20 3311 ENVELOPES Total INDELIBLE INC $635.20 Paid Chk# 020019 9/13/2012 KREPS, LINDA R100-42400-32210 Bldg /Plan Review Fees $150.00 12 -026 BUILDING PERMIT REFUND Total KREPS, LINDA $150.00 Paid Chk# 020020 9/13/2012 LAW ENFORCEMENT TECH GROUP LLC E 308 - 42100 -210 Operating Supplies (GENERAL) $23,044.09 12790 RMS SOFTWARE MAINTENANCE al LAW ENFORCEMENT TECH GROUP LLC $23,044.09 Paid Chk# 020021 9/13/2012 LEAGUE OF MINNESOTA CITIES E 100 - 41900 -433 Dues and Memberships $4,967.00 168382 2012 MEMBERSHIP Total LEAGUE OF MINNESOTA CITIES $4,967.00 Paid Chk# 020022 9/13/2012 LMCIT E 100 -43100 -364 Worker s Comp Insurance $500.00 C0015678 WORK COMP CLAIM Total LMCIT $500.00 Paid Chk# 020023 9/13/2012 MENARDS E 100-41941-210 Operating Supplies (GENERAL) $3.97 38313 SUPPLIES E100-41920-210 Operating Supplies (GENERAL) $7.74 38313 SUPPLIES E100-43100-210 Operating Supplies (GENERAL) $57.10 38745 SUPPLIES E 100 - 43100 -210 Operating Supplies (GENERAL) $36.91 42837 SUPPLIES E 100 - 43100 -210 Operating Supplies (GENERAL) $3.67 42933 SUPPLIES Total MENARDS $109.39 Paid Chk# 020024 9/13/2012 METRO ATHLETIC SUPPLY E 100 - 45200 -221 Maintenance Projects $683.79 143338 VOLLEY BALL NET AND BASES Total METRO ATHLETIC SUPPLY $683.79 Paid Chk# 020025 9/13/2012 MINI BIFF, LLC E 100 -45200 -210 Operating Supplies (GENERAL) $0.00 081612 Portable Biffs -City Park West 09/07/12 10:53 AM Page 3 CORCORAN, MN *Check Detail Register© August 2012 to September 2012 Check Amt Invoice Comment E 100 - 45200 -210 Operating Supplies (GENERAL) $0.00 081612 Portable Biffs -Lions Field E 100 -45200 -210 Operating Supplies (GENERAL) $22.17 081612 Portable Biffs - Meister /Schneid E 100 - 45200 -210 Operating Supplies (GENERAL) $673.75 081612 CORCORAN COUNTRY DAZE Total MINI BIFF, LLC $695.92 Paid Chk# 020026 9113/2012 MODERN MARKETING E 201 - 42100 -200 Office Supplies (GENERAL) $309.25 MM1091064 SUPPLIES E 201 -42100 -200 Office Supplies (GENERAL) $561.05 MM1091183 SUPPLIES Total NAPA AUTO PARTS - CORCORAN Total MODERN MARKETING $870.30 Paid Chk# 020027 9/13/2012 M -R SIGN CO INC E 100 - 41130 -351 E 100 - 45200 -210 Operating Supplies (GENERAL) $349.70 173153 PARK SIGNS Total POSTMASTER Total M -R SIGN CO INC $349.70 Paid Chk# 020028 9/13/2012 NAPA AUTO PARTS - CORCORAN E 100 - 42100 -220 Repair /Maint Supply (GENERAL) $24.56 856442 WIPER BLADES E 100 -42100 -220 Repair /Maint Supply (GENERAL) $19.43 857911 TRUEVIEW CAPSULE Total NAPA AUTO PARTS - CORCORAN $43.99 Paid Chk# 020029 9/13/2012 POSTMASTER $177.36 11039 -08 E 100 - 41130 -351 Newsletter Expenses $750.00 083112 FALL NEWSLETTER $183.57 1280351 -08 Total POSTMASTER $750.00 Paid Chk# 020030 9/13/2012 RAN DYS SANITATION E 100 - 43232 -300 Professional Srvs (GENERAL) $5,312.95 MONTHLY RECYCLING E 100-43100-210 Operating Supplies (GENERAL) $137.37 11013 -08 PUBLIC WORKS GARBAGE E 100 - 45200 -380 Utility & Services (GENERAL) $177.36 11039 -08 PARKS GARBAGE E 100 - 41941 -380 Utility & Services (GENERAL) $183.57 1280351 -08 CITY HALL GARBAGE Radio Units Total RANDYS SANITATION $5,811.25 Paid Chk# 020031 9/13/2012 RMS RENTALS E 100 - 43100 -210 Operating Supplies (GENERAL) $80.16 R18681 EQUIPMENT RENTAL Total RMS RENTALS $80.16 Paid Chk# 020032 9/13/2012 ROLF ERICKSON ENTERPRISES INC E 100 -41550 -300 Professional Srvs (GENERAL) $4,107.00 082212 MONTHLY ASSESSING FEE E 100 - 41550 -210 Operating Supplies (GENERAL) $16.39 082212 FORMS AND SUPPLIES Total ROLF ERICKSON ENTERPRISES INC $4,123.39 $206.09 Paid Chk# 020033 9/13/2012 SPRINT Operating Supplies (GENERAL) $17.51 E 100- 42100 -323 Radio Units $156.00 193109814057 CELL SERVICE Total SPRINT $156.00 Paid Chk# 020034 9/13/2012 SPRINT E 100-41920-210 Operating Supplies (GENERAL) $17.78 391283315129 CELL SERVICE E 100 - 42100 -321 Telephone $247.03 391283315129 CELL SERVICE E 100 - 43100 -321 Telephone $206.09 391283315129 CELL SERVICE E 100 - 41300 -210 Operating Supplies (GENERAL) $17.51 391283315129 CELL SERVICE 09/07/12 10:53 AM Page 4 CORCORAN, MN *Check Detail Register© August 2012 to September 2012 Check Amt Invoice Comment Total SPRINT $488.41 Paid Chk# 020035 9/13/2012 SR WEIDEMA E 401 - 41900 -530 Improvements Other Than Bldgs $196,250.38 PR1 SWUP Total SR WEIDEMA $196,250.38 Paid Chk# 020036 9/13/2012 SUN PRESS & NEWSPAPERS E 100-41941-352 General Notices and Pub Info $62.70 1394896 BOND PUBLIC HEARING E 100 -41941 -352 General Notices and Pub Info $54.86 1394897 PUBLIC HEARING 12 -010 E 100 - 41941 -352 General Notices and Pub Info $62.70 1395243 BOND PUBLIC HEARING Total SUN PRESS & NEWSPAPERS $180.26 ENGINEERING E 100 -43170 -300 Paid Chk# 020037 9113/2012 TEAMSTER LOCAL 320 1203533 RESIDENT COMMUNICATION E 100 - 43170 -300 G 100 -21707 Union Dues $286.20 0912 SEPT 2012 DUES;TLDF Professional Srvs (GENERAL) Total TEAMSTER LOCAL 320 $286.20 STORMWATER/WCA E 100 - 43170 -300 Paid Chk# 020038 9/13/2012 US BANKCORP EQUIPMENT FINANCE 1203533 PAVEMENT MGMT /CIP E 100 - 42100 -200 Office Supplies (GENERAL) $134.64 210951174 COPIER .otal US BANKCORP EQUIPMENT FINANCE $134.64 ENGINEERING E 100 - 43170 -300 Paid Chk# 020039 9/13/2012 VALLEY PAVING INC 1203533 LEES PRIVATE DRIVEWAY E 401 - 41900 -300 E 100 - 45200 -221 Maintenance Projects $840.00 120202 MILLINGS FOR PARK ROADS Professional Srvs (GENERAL) Total VALLEY PAVING INC $840.00 PUBLIC WORKS FACILITY Total WENCK ASSOCIATES, INC. Paid Chk# 020040 9/13/2012 VERIZON WIRELESS E 100- 42100 -321 Telephone $52.55 2786018240 CELL SERVICE Total VERIZON WIRELESS $52.55 Paid Chk# 020041 9/13/2012 WENCK ASSOCIATES, INC. G 500 -20288 Valley Paving $193.00 1202387 ENGINEERING E 100 -43170 -300 Professional Srvs (GENERAL) $892.50 1203533 RESIDENT COMMUNICATION E 100 - 43170 -300 Professional Srvs (GENERAL) $119.00 1203533 MEETINGS AND GEN ASSISTANCE E 100 - 43170 -300 Professional Srvs (GENERAL) $529.55 1203533 STORMWATER/WCA E 100 - 43170 -300 Professional Srvs (GENERAL) $8,157.00 1203533 PAVEMENT MGMT /CIP G 500 -20286 MTP West Acres 12 -006 $297.50 1203533 BAKKE FILL PERMIT G 500 -20285 Hope Ministries 12 -002 $178.50 1203533 ENGINEERING E 100 - 43170 -300 Professional Srvs (GENERAL) $649.50 1203533 LEES PRIVATE DRIVEWAY E 401 - 41900 -300 Professional Srvs (GENERAL) $30,345.50 1203534 ENGINEERING E 100 - 43170 -300 Professional Srvs (GENERAL) $7,657.00 1203535 PUBLIC WORKS FACILITY Total WENCK ASSOCIATES, INC. $49,019.05 Paid Chk# 020042 9/13/2012 WESTSIDE WHOLESALE TIRE E 100 - 43100 -220 Repair /Maint Supply (GENERAL) $267.51 686805 TIRES Total WESTSIDE WHOLESALE TIRE $267.51 10100 Farmers State Bank $357,702.97 09/07/12 10:53 AM Page 5 CORCORAN, MN *Check Detail Register© August 2012 to September 2012 Check Amt Invoice Comment Fund Summary 10100 Farmers State Bank 100 GENERAL FUND $47,374.20 201 RESERVES DONATION FUND $870.30 202 POLICE DONATION FUND $87.24 205 DWI FORFEITURE FUND $0.00 308 POLICE CAPITAL FUND $23,211.35 401 TAX INCREMENT FINANCING $284,977.55 500 ESCROW HOLDING FUND $1,182.33 $357,702.97 09/07/12 10:53 AM Page 6 City of Corcoran Consultant Summary 9/13/2012 Name Invoice Date Check # Amount Due Abdo, Eick & Meyers 08/17/12 20000 595.00 Carson, Clelland & Schreder 08/31/12 20005 6,323.75 Rolf Erickson Enterprises 08/22/12 20032 4,123.39 Wenck Assoc 09/05/12 20041 49,019.05 Total 60, 061.19 H: \City Hall Information \CITY GOVERN MENT \Council, Commissions & Committees \Council Information \Council Claims \2012 Claims.xls CITY OF CORCORAN 8200 CTY RD 116 CORCORAN, MN 55340 Invoice No. 298847 Date 0811712012 Client No. 41390 PREPARATION OF THE OFFICE OF THE STATE AUDITOR TAX INCREMENT FINANCING DISTRICT REPORT Please provide the following information to pay by credit card. Payment Amount: Card Member Signature: Card Number: ABDO, SICK & MEYERS, LLP Please remit payments to: P.O. Box 3166 Mankato, MN 56002 -3166 Billing Questions: 952.715.3030 507.625.2727 EXT 3030 Questions @aemcpas.com CURRENT AMOUNT DUE $ 595.00 I would like a receipt sent to me: Yes No Date: Exp Date: (A FINANCE CHARGE computed at 12% ANNUAL PERCENTAGE RATE will be added to any balance remaining 30 days after receipt of invoice) 41390 Card Code: CARSON, CLELLAND & SCHREDER Attorneys at Law 6300 SHINGLE CREEK PARKWAY STE 305 MINNEAPOLIS, MN 55430 -2190 (763)- 561 -2800 August 31, 2012 CITY OF CORCORAN 8200 CO RD 116 CORCORAN, MN 55340 Professional Services Amount ..Civil 8/9/2012 Prepare for meeting; review agenda 140.00 Attend meeting 350.00 8/13/2012 LOGIS /LETG: Review correspondence from Hamilton and Attorney Dawn Speltz and 93.33 related issues 8/15/2012 Glowacki: Prepare for and attend hearing 237.50 LOGIS /LETG: Review email correspondence and conference with Attorney Dawn Speltz 70.00 8/24/2012 Research special assessment exemption issue; research building management contracts 126.67 Review research from Attorney John Thames regarding special assessments, cemetery; 70.00 conference with Attorney John Thames SUBTOTAL: [ 1,087.50] .19410 Hackamore Rd 7/31/2012 Review assessment documents and emails, correspondence to Jeanie 70.00 8/2/2012 Review Green Acres and special assessment issue; conference with Kendra and Jeanie and 210.00 format letter for Jeanie to send to title company SUBTOTAL: [ 280.00] .20112 County Rd 10 Hazardous Building 8/2/2012 Review file and call to owner 70.00 SUBTOTAL: [ 70.00] .Moonlit Acres 8/21/2012 Review Drive Agreement issues and email from Dan 70.00 SUBTOTAL: 1 70.001 CITY OF CORCORAN Page 3 Amount SUBTOTAL: [ 47.50] Criminal 7/30/2012 Preparation of one complaint 40.00 Prepare disposition letter regarding 7/25/12 cases 15.83 7/31/2012 Preparation of two complaints 80.00 Follow up with Pritchard 31.67 Attend Arraignment, Pretrial calendar 47.50 8/1/2012 Correspondence with Pritchard regarding Cates 31.67 8/2/2012 Correspondence with defense attorneys, defendants, victims; review case resolutions; 47.50 prepare disposition letter; review files; prepare correspondence to witnesses; note offers and 71.25 note files; jury trial preparation 47.50 8/3/2012 Prepare disposition letter regarding 7/31/12 calendar; review files; memorandums to the files 23.75 8/7/2012 Review criminal files; prepare offer to be noted and prepare for 8/8/12 calendar 31.67 8/8/2012 Correspondence with defense attorneys, defendants, Court Administration, and witnesses; 31.67 review discovery and orders; update jury trial calendar and note files Attend Arraignment and Pretrial calendar; 47.50 8/9/2012 Correspondence with defense attorneys, witnesses, victims and defendants; review motion 47.50 documents; review petitions for expungement and draft objection letters Correspondence with defense attorneys, defendants, witness and victims; review discovery 47.50 and motion documents; note files and correspondence with officers and Court Administration Prepare fax to defense attorney; telephone call with police department; review email 23.75 correspondence from defense attorneys 8/10/2012 Finish 7/31/12 and 8/1/12 disposition letters with special instruction regarding hearings with 15.83 quick turn around times 8/13/2012 Correspondence with defense attorneys; research search issue and note files; prepare for 15.83 8/14/12 Arraignment and Pretrial calendar 8/14/2012 Attend In custody calendar; correspondence with victims and witnesses; note files and 47.50 correspondence to defense attorneys Prepare for 8/15/12 calendar 23.75 8/15/2012 Correspondence with defense attorneys, victims, Court Administration; review discovery; 31.67 note files; assist with Arraignment and pretrial calendar at Brookdale Attend Arraignment and Pretrial calendar 71.25 8/16/2012 Correspondence with defense attorneys, defendants, witnesses, and victims; review motion 47.50 documents; prepare for hearing and jury trials; note files 8/17/2012 Correspondence with defense attorneys, victims, witnesses; review case resolution; review 31.67 case resolutions; prepare disposition letter; note files and correspondence to Court Administration Being disposition letter regarding 8/8/12 calendar 95.00 8/24/2012 Preparation of criminal complaints; preparation of cases for trial, court and jury; contact and 411.25 notice to witnesses for trial testimony for monthly period SUBTOTAL: [ 1,338.76] For professional services rendered $6,323.75 Previous balance $8,714.43 8/31/2012 Payment - thank you ($8,714.43) CITY OF CORCORAN Total payments and adjustments Balance due Page 4 Amount ($8,714.43) $6,323.75 I hereby declare under the penalties of perjury that the foregoing statement for legal services is just and correct and that no part thereof has been I 'd. J ey A. Carson, City Attorney STATEMENT 22- Aug -12 ROLF ERICKSON ENTERPRISES, INC. SOUTWEST ASSESSING P O BOX 47841 PLYMOUTH, MN 55447 CITY OF CORCORAN 8200 Co. Rd. 116 CORCORAN, MN 55340 AUGUST 2012 ASSESSING FEE COUNTY DATA FEE $4,107.00 $16.39 TOTAL $4,123.39 Wenck September 5, 2012 Mr. Dan Donahue City Administrator City of Corcoran 8200 County Road 116 Corcoran, MN 55340 Dear Dan: Wenck Associates, Inc. 1800 Pioneer Creek Ctr. P.O. Box 249 Maple Plain, MN 55359 -0249 (763) 479 -4200 Fax (763) 479 -4242 E -mail: wenckmp@wenck.com Enclosed are our invoices for August 2012. Unbilled time for council meetings, travel, etc. totaled 5.2 hours last month. Project work involved the sewer and water project, Public Works facility, Trail Haven, and assessment policy. If you have any questions as you review these invoices, please feel free to contact me. Sincerely, WENCK SSOCIATES INC. Kent Torve, P.E. T:\2294- Corcoran \lnvoices\20121Hugust\August 2012.docx City of Corcoran August 2012 Invoices City Projects Invoice # Wenck project # Phase # Project name Subtotal Total 1203533 2294 -01 General Engineering Services 100 -02 Resident Communication $892.50 500 -02 Council Meetings and Engineering Assistance $119.00 600 -01 Stormwater /WCA General Tasks $529.55 700 -05 Pavement Management and CIP $8,157.00 800 -05 Bakken Fill Permit $297.50 �p(j 800 -06 Hope Church j —d $178.50 085 800 -08 Lees Moonlit Acres Private Driveway $649.50 $10,823.55 1203534 2294 -10 Sewer and Water Utility Project 01 Pre - Project Concept Development $953.00 05 Preliminary /Special Survey $250.00 06 Construction Survey $12,948.00 07 Construction $15,044.50 11 Easements and Utilities $608.00 14 MCES Forcemain Construction $453.00 15 Maple Grove Watermain Connection Construction $89.00 $30,345.50 1203535 2294 -13 Public Works Buildin 01 Public Works Building $4,002.50 05 Preliminary/Special Survey $2,334.50 18 Preconstruction Engineering & Permitting $1,320.00 $7,657.00 City Projects Subtotal 5'48,826.05 Escrow Projects Invoice # Wenck project # Escrow # Project name Total None No escrow projects in August 2012 Escrow Projects Subtotal $0.00 AUGUST 2012 TOTAL $48,826.05 T:\ 2294- Corcoranllnvoices 12012WugustWugust2012.docx d Y Wenck Engineers • Scientists Business Professionals ip.+VV'VVV.VV $350,000.00 $300,000.00 $250,000.00 $200,000-00 $150,000.00 $100,00000 $50.000�00 $000 City of Corcoran 2012 Invoice Totals $321.650 slso 4e4 is 5277 024 47 7. $11001725 0211 $44. 40.020.05 S13660.72 Jan Feb Mar Apr May Jun Jul Aug Faallill Monthly total Cumulative Annual - Ali T_I- $4,07150 Jan Feb Mar Apr May Jun Montly Total —111—Cumulative total Includes 2294-01, 2294-05 $10,823.55 Jul Aug City of Corcoran Public Works Building* Invoice Totals, 2010-2012 Corcoran Sewer and Water Utility Project 2294-10 Fee Totals Since Project Inception 2009 Nov-Dec $7,474.50 2010 Jan-June $41.527.10 July-Dec $4,042.90 2011 Jan-June $ 65,336.13 July-Dec $107,747.64 2012 Jan - Aug $256,614.04 $70100:.00 $60,000.00 $50,000.00 Z_W.9124_.._77 $40,000.00 t.2i_ $30,000.00 $20,000-00 $10,000.00 $7.657.00 $0.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2010 2011 2012 linsillaMontly'rotal -40— Cumulative total T:12294-CorcDran\Budgets and Rates etc\Budget tracker City of Corcoran 2012 General Engineering Services* Invoice Totals $40,000.00 $35,000.00 $30,000.00 525,000.00 $20,000.00 525,000.00 . W514.W $10,000.00 S4,2ftSD $3.62SA2016"w $5,000.00 $2,252.80 IL $0.00 1 IIIIIIIII $4,07150 Jan Feb Mar Apr May Jun Montly Total —111—Cumulative total Includes 2294-01, 2294-05 $10,823.55 Jul Aug City of Corcoran Public Works Building* Invoice Totals, 2010-2012 Corcoran Sewer and Water Utility Project 2294-10 Fee Totals Since Project Inception 2009 Nov-Dec $7,474.50 2010 Jan-June $41.527.10 July-Dec $4,042.90 2011 Jan-June $ 65,336.13 July-Dec $107,747.64 2012 Jan - Aug $256,614.04 $70100:.00 $60,000.00 $50,000.00 Z_W.9124_.._77 $40,000.00 t.2i_ $30,000.00 $20,000-00 $10,000.00 $7.657.00 $0.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2010 2011 2012 linsillaMontly'rotal -40— Cumulative total T:12294-CorcDran\Budgets and Rates etc\Budget tracker City of Corcoran Budget Tracking 2012 Project # Phase # Pro'ectl hase name Jan Feb Mar Apt May Jun Jul Aug 2012 Total to Date 2294 -01 Gen. En g. Svcs 100-02 Resident Communication $ 773.50 $ 119.00 $ 178.50 $ 892.50 $ 1.963.50 200 Planning $ 535.50 $ 535.50 200 -01 City Hall Geothermal $ 500 -01 General Meetings Gen En r & CIP $ 846.00 $ 157.30 $ 198.00 $ 416.0 $ 3,351 30 500 -02 Council Meetings 2 @ $114 ea $ 119.00 $ 238.00 $ 238.00 $ 238.00 $ 238.00 $ 238.00 $ 119.00 $ 1,426.00 500 -03 Planning Meetings $ 600 -01 Stormwater/WCA General Tasks $ 178.50 $ 180.00 $ 156.00 $ 90.00 $ 1,236.00 $ 372.00 $ 529.55 $ 2,742.05 700 Municipal Slate Aid $ 3,147.00 $ 1,051.00 $ 75.50 $ 4,273.50 700.01 MnDOT State Aid $ 270.00 $ 2,186.10 $ 238.00 $ 290.00 $ 2,984.10 700 -02 Hennepin Co nty Traffic Items $ 700 -03 City Traffic Items $ 238.00 $ 643.00 $ 1,130.50 $ 1,190.00 $ 119.00 $ 357.00 $ 3,677.50 700 -04 Highway 55 Detour $ 178.50 $ 758.50 $ 95.20 $ 1,032.20 700 -05 Pavement Management and CIP $ 768.00 $ 48.00 $432.00 $ 8,157.00 $ 9,405.00 800 Small Land Use Applications $ 416.50 $ 309.40 $ 725.90 800 -03 Custom Filtration Escrow no. 500 -20278 $ 800 -04 Sunram Permits Escrow no. 500 -20247 $ 800 -05 Bakken Fill Permit $ 297.50 $ 297.50 800 -06 Hoe Church $ 119.00 $178.50 $ 297.50 800 -07 Valley Paving Grading Permit Hwy 55 $ 193.00 $ 193.00 800 -08 Lees Moonlit Acres Private Driveway $ 649.50 $ 649.50 Month Subtotal $ 4,290.50 $ 2,251.80 $ 3,623.60 $ 3,349.00 $ 3,048.60 $ 4,071.50 $ 2,097.50 $ 10,823.55 Cumulative Annual $4,290.50 $ 6,542.30 $ 10,165,90 $ 13,514.90 $ 16,563.50 $ 20,635.00 $ 22,732.50 $ 33,556.05 $ 33,556.06 Cumulative All Years $113,940.21 $116,192.01 $119,815.61 $123,164.61 $126,213.21 $130,284.71 $132,382.21 $143,205.76 2294 -02 Unbilled Hours Unbilled Hours 11.9 9 19 13.5 23.4 19.3 2.0 5.2 103.3 Cumulative Annual 11.9 20.9 39.9 53.4 76.8 96.1 98.1 103.3 2294 -10 Sewer and Water Planning TIF Districts 01 Pre - Project Concept Development $ 2,654.79 $ 1,315.70 $ 2,390.08 $ 953.00 $ 7,313.57 02 Feasibility Study $ 1,904.00 $ 1,732.70 $ 1,684.50 $ 2,353.50 $ 476.00 $ 8,150.70 03 Plans and Specifications $ 2,076.20 $ 4,867.00 1 $ 12,699.50 $ 12,105.00 $ 8,900.49 .;5112 %.0O' $ 623.00 $ 40,746.19 04 Bidding Assistance $ 1,283.50 $ 7,124.10 $ 4,707.70 $ 354.00 $ 13,469.30 05 Prelim ina /S ecial Survey $ 19,563.55 $ 11,820.50 $. 4,793.00 $ 10,151,18 $ 6,678.90 1 $ 3,473.00 $ 250.00 $ 56,730.13 06 Construction Survey $ 222.50 $2,760.00 $ 534.00 $ 12,948.00 $ 16,464.50 07 Construction $ 1,050.00 $ 654.45 $ 1,132.50 $ 15,044.50 $ 17,881.45 08 Record Plan Preparation $ 09 Contract Administration $267.00 $ 95.20 $ 362.20 10 Project Closeout $ 11 Easement and Utilities $ 13,474.85 $ 11,474.55 $ 4,623.40 $ 21,629.28 $7,989.92 $ 4,586.42 $ 755.00 $ 608.00 $ 65,141 43 12 MCES Forcemain Design $ 7,854.50 $ 2,017.20 $3,442.30 $ 528.50 $ 13,842.50 13 Maple Grove Watermain Connection Design $ 5,418.00 $ 3,337.00 $ 6,419.07 $ 645.00 $ 15,819.07 14 MCES Forcemain Construction $ 151.00 $ 453.00 $ 604.00 15 Maple Grove Watermain Connection Constr. $ 89.00 $ 89.00 Month Subtotal $ 39,675.40 $ 19,357.75 $ 45,416.10 $ 48,847.56 $ 45,553.06 $ 20,300.97 $ 7,117.70 $ 30,345.50 Cumulative Annual $ 39,675.40 1 59,033.15 $ 104,449.25 $ 153,296.81 $ 198,849.87 $ 219,150.84 $ 226,268.54 $ 256,614.04 $ 256,614.04 Cumulative All Years $ 265,803.67 $ 285,161.42 $ 330,577.52 $ 379,425.08 $ 424,978.14 $ 445,279.11 $ 452,396.81 $ 482,742.31 2294 -13' Public Works Building 01 Pre-Project Concept Development $ 59.50 $ 1,487.50 $ 178.50 $ 916.00 $ 1,488.52 $ 4,002.50.$ 8,132.52 02 Phase I Feasibility Stud $ 701.20 $ 701.20 03 Plans and Specifications $ 04 Bidding Assistance $ 489.50 $ 489.50 05 Preliminary/Special Survey $ 89.00 $ 2,334.50 $ 2,423.50 06 Construction Survey $ 07 Construction $ 08 Record Plan Preparation $ 09 Contract Administration $ 10 Project Closeout $ 11 Easements and Utilities $ 12 Phase II Stormwater and Transportation Plannini South Site $ 13 CR50 and CR30 Site Analysis $ 14 CR10 and Trail Haven Site Review $ 15 CR10 and Bechtold Property $ 16 Roehlke Property County Road 19 $ 1,727.40 $ 2,027.70 $ 1,045.00 $ 2,082.50 $ 6,882.60 17 Roehlke Due Diligence $ 2,085.60 $ 2,753.29 $ 6,118.52 $ 773.50 $ 11.731.11 18 Preconstruction Engineering & Permitting $ 1,320.00 Month Subtotal $ 59.50 $ 1,727.40 $ 3,515.20 $ 3,309.30 $ 4,948.99 $ 6,118.52 $ 4,344.52 $ 7,657.00 Cumulative Annual $ 59.50 $ 1,786.90 $ 5.302.10 $ 8,611.40 $ 13,560.39 $ 19,678,91 $ 24,023.43 $ 31,680.43 $ 30,360.43 Cumulative All Years $ 28,305.36 $ 30,032.76 $ 33,547.96 $ 36,857.26 $ 41,806.25 $ 47,924.77 $ 52,269.29 $ 59,926.29 [Monthly Total - All Projects $44,026.40 $23,336.95 $52,554.90 $55,05.861 $53,560.1561 $30,490.991 $13,659.721 $48,826.05 Invoice August 31, 2012 Invoice No: 1203533 Wenck Associates, Inc. 1800 Pioneer Creek Center P.O. Box 249 Maple Plain, MN 55359 -0249 (763) 479.4200 Fa 7 'Wencl< City Of Corcoran x ( 63) 479 4242 a -mail: accountingdwwck.com 8200 County Road 116 Corcoran, MN- 55340 Project 2294 -01 Corcoran General Engineering Services Professional Services Through August 31, 2012 Phase 100 -02 Resident Communication Professional Personnel Hours Rate Amount Torve, Kent 6.50 119.00 773.50 Vander Top, Vincent 1.00 119.00 119.00 Totals 7.50 892.50 Total Labor 892.50 Phase Total $892.50 -------------------------------------------------- Phase 500 -02 Council Meetings and Engineering Administrative Professional Personnel Hours Rate Amount Torve, Kent 1.00 119.00 119.00 Totals 1.00 119.00 Total Labor 119.00 Phase Total $119.00 -------------------------------------------------- Phase 600 -01 Stormwater /WCA General Tasks Professional Personnel Hours Rate Amount Louwagie, Shawn 4.20 45.00 189.00 Ward, Jared 3.00 110.00 330.00 Totals 7.20 519.00 Total Labor 519.00 Reimbursable Expenses Mileage - Reimbursable 10.55 Total Reimbursables 10.55 10.55 Phase Total $529.55 -------------------------------------------------- Phase 700 -05 Pavement Management and CIP Professional Personnel Hours Rate Amount Libby, Heather 3.00 100.00 300.00 Mattson, Kevin 1.50 96.00 144.00 Nelson, Susan 12.50 60.00 750.00 Shuck, Jordan 1.00 89.00 89.00 Vander Top, Vincent 43.00 119.00 5,117.00 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Project 2294 -01 Corcoran General Engineering Services Invoice 1203533 Ward, Jared 15.70 110.00 1,727.00 Totals 76.70 8,127.00 Total Labor 8,127.00 Reimbursable Expenses Telephone 20.00 Total Reimbursables 20.00 20.00 Unit Billing Geographic Information System 10.00 Total Units 10.00 10.00 Phase Total $8,157.00 ---------------------------------------- Phase 800 -05 Bakken Fill Permit - - - - -- Professional Personnel Hours Rate Amount Torve, Kent 2.50 119.00 297.50 Totals 2.50 297.50 Total Labor 297.50 Phase Total $297.50 ---------------------------------------- Phase 800 -06 Hope Church - - - - -- Professional Personnel Hours Rate Amount Vander Top, Vincent 1.50 119.00 178.50 Totals 1.50 178.50 Total Labor 178.50 Phase Total $178.50 ---------------------------------------------- Phase 800 -08 Lees Moonlit Acres Private Driveway Professional Personnel Hours Rate Amount Torve, Kent 2.50 119.00 297.50 Ward, Jared 3.20 110.00 352.00 Totals 5.70 649.50 Total Labor 649.50 Phase Total $649.50 Total Invoice Amount $10,823.55 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum Page 2 interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Irsvoice August 31, 2012 enc< Wenck Associates, Inc, Invoice No: 1203534 1800 Pioneer Creek Center P.O. Box 249 Maple Plain, MN 55359 -0249 (763) 479 -4200 Fax (763) 4794242 Dan Donahue e•mail: accounting anenck.com City of Corcoran 8200 County Road 116 Corcoran, MN 55340 Project 2294 -10 Sewer and Water Planning Professional Services Through August 31, 2012 Phase 01 PRE - PROJECT CONCEPT DEVELOPMENT Professional Personnel Hours Rate Amount Nelson, Susan 8/13/2012 2.00 60.00 120.00 Project fee totals by year, overall Torve, Kent 8/13/2012 5.50 119.00 654.50 financial analysis, pipe bedding review etc Torve, Kent 8/31/2012 1.50 119.00 178.50 Water system financial planning Totals 9.00 953.00 Total Labor 953.00 Phase Total $953.00 -------------------------------------------- - - - - -- Phase 05 PRELIMINARY /SPECIAL SURVEY Professional Personnel Hours Rate Amount Claridge, Dale 8/13/2012 1.00 151.00 151.00 Forwarded a copy of the SWPPP to Elm Creek WMC and followup Shuck, Jordan 8/1/2012 1.00 89.00 89.00 Mapping Totals 2.00 240.00 Total Labor 240.00 Unit Billing Geographic Information System 10.00 Total Units 10.00 10.00 Phase Total $250.00 -- - - - - - - - - - - - - Phase 06 - - - - - - - - - CONSTRUCTION SURVEY - - - - - - - - - - - - - - - - - - - - - - - - - -- Professional Personnel Hours Rate Amount Boell, James 8/6/2012 2.00 138.00 276.00 cad design Boell, James 8/8/2012 1.00 138.00 138.00 cad design Boell, James 8/22/2012 1.00 138.00 138.00 CAD DESIGN INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Project 2294 -10 Sewer and Water Planning Invoice 1203534 Boell, James 8/23/2012 1.00 138.00 138.00 CAD DESIGN Ecklund, Christopher 8/17/2012 1.00 109.00 109.00 Created stakeout file for surveyor Ecklund, Christopher 8/20/2012 .50 109.00 54.50 Watermain stake -out info for surveyor Quisberg, Jason 8/20/2012 9.00 132.00 1,188.00 Staking sanitary and water. Quisberg, Jason 8/21/2012 4.50 132.00 594.00 Staking sanitary and water. Quisberg, Jason 8/22/2012 9.00 132.00 1,188.00 Staking sanitary and water. Quisberg, Jason 8/24/2012 3.00 132.00 396.00 Stake water and san /. Quisberg, Jason 8/29/2012 7.00 132.00 924.00 Stake 101 jacking and grivity sewer. Schmidt, Rowdy 8/7/2012 7.00 89.00 623.00 clearing limits Schmidt, Rowdy 8/8/2012 5.50 89.00 489.50 clearing limits Schmidt, Rowdy 8/13/2012 3.00 89.00 267.00 survey Schmidt, Rowdy 8/15/2012 2.00 89.00 178.00 field work Schmidt, Rowdy 8/16/2012 6.00 89.00 534.00 survey Schmidt, Rowdy 8/17/2012 6.00 89.00 534.00 survey Schmidt, Rowdy 8/20/2012 8.00 89.00 712.00 survey Schmidt, Rowdy 8/21/2012 4.00 89.00 356.00 survey Schmidt, Rowdy 8/22/2012 8.00 89.00 712.00 survey Schmidt, Rowdy 8/24/2012 3.00 89.00 267.00 survey Schmidt, Rowdy 8/27/2012 1.00 89.00 89.00 survey Schmidt, Rowdy 8/28/2012 2.00 89.00 178.00 survey Schmidt, Rowdy 8/29/2012 4.00 89.00 356.00 survey Thelen, Ryan 8/6/2012 1.50 78.00 117.00 Survey Prep /GPS files Thelen, Ryan 8/7/2012 5.00 78.00 390.00 Construction Limit Staking Thelen, Ryan 8/8/2012 5.50 78.00 429.00 Construction Limit Staking Vander Top, Vincent 8/23/2012 1.00 119.00 119.00 Assist with survey and updates Vander Top, Vincent 8/24/2012 1.00 119.00 119.00 Assist with survey and updates Totals 112.50 11,613.00 Total Labor 11,613.00 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum Page 2 interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Project 2294 -10 Sewer and Water Planning Invoice 1203534 Reimbursable Expenses Equipment Rental 1,320.00 Total Reimbursables 1,320.00 1,320.00 Unit Billing AutoCAD /Intergraph Use 15.00 Total Units 15.00 15.00 Phase Total $12,948.00 ---------------------------------------- Phase 07 CONSTRUCTION - - - - -- Professional Personnel Hours Rate Amount Boell, James 8/13/2012 1.00 138.00 138.00 cadd design Claridge, Dale 8/1/2012 1.00 151.00 151.00 Pre - construction meeting noticing, communication Claridge, Dale 8/13/2012 .50 151.00 75.50 Misc communication Claridge, Dale 8/16/2012 1.00 151.00 151.00 Cost reimbursement communication, misc Claridge, Dale 8/28/2012 1.00 151.00 151.00 Misc CMS - review easements and road right -of -way, utilities, etc. Libby, Heather 8/1/2012 4.00 100.00 400.00 project management & meeting prep Libby, Heather 8/2/2012 4.00 100.00 400.00 pre -con meeting and prep Libby, Heather 8/7/2012 1.50 100.00 150.00 construction meeting Libby, Heather 8/9/2012 2.00 100.00 200.00 submittal reviews Libby, Heather 8/10/2012 4.00 100.00 400.00 submittal reviews Libby, Heather 8/13/2012 3.00 100.00 300.00 submittal reviews Libby, Heather 8/14/2012 2.00 100.00 200.00 construction meeting and minutes Libby, Heather 8/15/2012 3.00 100.00 300.00 meeting with maple grove -flow meter, agreement Libby, Heather 8/15/2012 2.00 100.00 200.00 project coordination Libby, Heather 8/21/2012 2.00 100.00 200.00 construction meeting Libby, Heather 8/23/2012 2.00 100.00 200.00 construction managment Libby, Heather 8/27/2012 2.00 100.00 200.00 gas meter coodination Libby, Heather 8/28/2012 3.50 100.00 350.00 construction meeting and site visit Quisberg, Jason 8/24/2012 3.00 132.00 396.00 Constructin observation. Schmidt, Rowdy 8/3/2012 4.00 89.00 356.00 Shop Drawings Schmidt, Rowdy 8/6/2012 4.00 89.00 356.00 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum Page 3 interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Project 2294 -10 Sewer and Water Planning Invoice 1203534 submittals Schmidt, Rowdy 8/7/2012 1.00 89.00 89.00 meeting Schmidt, Rowdy 8/8/2012 2.00 89.00 178.00 field work Schmidt, Rowdy 8/9/2012 5.00 89.00 445.00 field work Schmidt, Rowdy 8/9/2012 1.00 89.00 89.00 submittals Schmidt, Rowdy 8/10/2012 6.00 89.00 534.00 field work Schmidt, Rowdy 8/13/2012 2.00 89.00 178.00 field work Schmidt, Rowdy 8/14/2012 5.00 89.00 445.00 field work Schmidt, Rowdy 8/15/2012 4.00 89.00 356.00 field work Schmidt, Rowdy 8/16/2012 2.00 89.00 178.00 field work Schmidt, Rowdy 8/17/2012 2.00 89.00 178.00 field work Schmidt, Rowdy 8/20/2012 2.00 89.00 178.00 field work Schmidt, Rowdy 8/21/2012 3.00 89.00 267.00 field work Schmidt, Rowdy 8/22/2012 4.00 89.00 356.00 field work Schmidt, Rowdy 8/23/2012 9.00 89.00 801.00 field work Schmidt, Rowdy 8/24/2012 1.00 89.00 89.00 field work Schmidt, Rowdy 8/27/2012 8.00 89.00 712.00 field work Schmidt, Rowdy 8/28/2012 8.00 89.00 712.00 field work/meeting Schmidt, Rowdy 8/29/2012 7.00 89.00 623.00 field work Schmidt, Rowdy 8/30/2012 9.50 89.00 845.50 field work Schmidt, Rowdy 8/31/2012 8.00 89.00 712.00 field work Torve, Kent 8/2/2012 1.50 119.00 178.50 Pre construction meeting and prep Torve, Kent 8/7/2012 1.00 119.00 119.00 Weekly meeting and preparation Torve, Kent 8/14/2012 1.00 119.00 119.00 Weekly meeting and preparatiion Torve, Kent 8/15/2012 2.50 119.00 297.50 Meeting and prep with Maple Grove and followup on sewer Torve, Kent 8/23/2012 2.50 119.00 297.50 Construction coordination and progress assessment Torve, Kent 8/24/2012 1.50 119.00 178.50 Construction project management Torve, Kent 8/28/2012 1.50 119.00 178.50 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum Page 4 interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Project 2294 -10 Sewer and Water Planning Invoice 1203534 Weekly Meeting and Change Order for Packet Hours Rate Vander Top, Vincent 8/30/2012 1.00 119.00 119.00 Assist Rowdy with information 151.00 Followup on easements, file signed documents, etc. Vander Top, Vincent 8/31/2012 1.00 119.00 119.00 Assist Rowdy with information .50 151.00 Ward, Jared 8/31/2012 1.80 110.00 198.00 Corcoran Sewer and Force Main Inspection, meeting with Rowdy regarding supporting documents needed Tues. schedule. acquisition; communication Totals 155.30 15,044.50 Total Labor Follouwp on permits 15,044.50 Call from W. Rikala about status of Schommer easements and condemnation Phase Total $15,044.50 -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Phase 11 EASEMENTS AND UTILITIES Professional Personnel Reimbursable Expenses Report Supplies Hours Rate Amount Claridge, Dale 8/13/2012 1.00 151.00 151.00 Followup on easements, file signed documents, etc. Hours Rate Amount Claridge, Dale 8/14/2012 1.00 151.00 Claridge, Dale 8/14/2012 .50 151.00 75.50 Followup with city attorney on filing condemnation proceedings and Claridge, Dale 8/15/2012 1.00 151.00 151.00 supporting documents needed acquisition; communication Claridge, Dale 8/15/2012 .50 151.00 75.50 Follouwp on permits 75.50 Call from W. Rikala about status of Schommer easements and condemnation Claridge, Dale 8/17/2012 .50 151.00 75.50 Easements, communication 453.00 Claridge, Dale 8/27/2012 .50 151.00 75.50 Filing of final easements and documentation Claridge, Dale 8/31/2012 1.00 151.00 151.00 Followup with City attorney regarding status of condemnation filing, schedule, hearings, etc per Met Council request Totals 4.00 604.00 Total Labor 604.00 Reimbursable Expenses Report Supplies 4.00 Total Reimbursables 4.00 4.00 Phase Total $608.00 -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Phase 14 MCES Forcemain Construction - - - - - - - - - - - - - Professional Personnel Hours Rate Amount Claridge, Dale 8/14/2012 1.00 151.00 151.00 Followup with city attorney on filing condemnation proceedings and supporting documents needed Claridge, Dale 8/15/2012 1.00 151.00 151.00 Coordination with Met Council to obtain action documents relating to land acquisition; communication Claridge, Dale 8/16/2012 .50 151.00 75.50 Followup with action resolutions; communication Claridge, Dale 8/30/2012 .50 151.00 75.50 Call from W. Rikala about status of Schommer easements and condemnation process and public hearings, documentation Totals 3.00 453.00 Total Labor 453.00 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum Page 5 interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Project 2294 -10 Sewer and Water Planning Invoice 1203534 Phase Total $453.00 -- — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — -- Phase 15 Maple Grove Watermain Connection Construction Professional Personnel Schmidt, Rowdy Meeting - clearing limits Totals Total Labor Hours Rate Amount 8/9/2012 1.00 89.00 89.00 1.00 89.00 Phase Total Total Invoice Amount 89.00 $89.00 $30,345.50 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18 0/0 annum Page 6 interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Invoice August 31, 2012 Invoice No: 1203535 Dan Donahue City of Corcoran 8200 County Road 116 Corcoran, MN 55340 Project 2294 -13 Public Works Building Wencl< Wenck Associates, Inc. 1600 Pioneer Creek Center P.O. Box 249 Maple Plain, MN 55359 -0249 (763) 479.4200 Fax (763) 479.4242 e-mail: accountingdivenck.com Professional Services Through August 31, 2012 — ------- — — — — — — — — — — — — — — — — — — — — — , Phase 01 Public Works Building Professional Personnel Terhaar, Edward Torve, Kent Totals Total Labor Hours Rate 5.00 145.00 5.00 119.00 10.00 Amount 725.00 595.00 1,320.00 1,320.00 Phase Total $1,320.00 Total Invoice Amount $7,657.00 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Hours Rate Amount Boell, James 3.00 138.00 414.00 Kelly, Patricia 2.50 55.00 137.50 Torve, Kent 29.00 119.00 3,451.00 Totals 34.50 4,002.50 Total Labor 4,002.50 Phase Total $4,002.50 -------------------------------------------- Phase 05 PRELIMINARY /SPECIAL SURVEY - - - - -- Outside Services Haugo Geotechnical Services, LLC 2,334.50 Outside Services Total 2,334.50 2,334.50 Phase Total $2,334.50 -------------------------------------------- Phase 18 PRE - CONSTRUCTION ENGINEERING & PERMITTING - - - - -- Professional Personnel Terhaar, Edward Torve, Kent Totals Total Labor Hours Rate 5.00 145.00 5.00 119.00 10.00 Amount 725.00 595.00 1,320.00 1,320.00 Phase Total $1,320.00 Total Invoice Amount $7,657.00 INVOICES ARE DUE UPON PRESENTATION. Invoice balances not paid within 30 days of invoice are subject to 1 -1/2% 18% annum interest /finance charge. Please reference the invoice number when sending payment. Federal Tax ID #41- 1520095 Escrow Projects Invoice # Wenck ro'ect # Escrow # Project name Total 1202387 2294 -01 Ph. 800 -07 500- 20288 Valley Paving Grading Perniit Hwy 55 $193.00 Escrow Projects Subtotal sm.,00 MAY 2012 TOTAL $53,550.65 T:\2294- Corcoran \Invoices\2012 \May.May 2012.docx -,-d& We n c k Engineers • Scientists Business Professionals M Statement City of Corcoran 8200 County Road 116 Corcoran, MN 55340 Outstanding Invoices Wenck Associates, Inc. 1800 Pioneer Creek Center P.O. Box 249 Maple Plain, MN 55359 -0249 United States of America Invoice Invoice Date Number Project Number: 2294 -01 Corcoran General Engineering Services May 31r 2012 1202387 July 31, 2012 1203255 Total for 2294 -01 Project Number: 2294 -10 Sewer and Water Planning Julv 31. 2012 1203257 L August 15, 2012 $7,117.70 id 15 Balance Days Invoiced Due Outstanding $3,048.60 $193.00 76 $2,097.50 15 $5,146.10 $2,290.50 $7,117.70 id 15