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Home My WebLink About2003-03-04 CC Packet CITY OF STILLWATER CITY COUNCIL MEETING NO. 03-04 Council Chambers, 216 North Fourth Street March 4, 2003 eEGULAR MEETING RECESSED MEETING 4:30 P.M. 7:00 P.M. 4:30 P.M. AGENDA CONSENT AGENDA* 1. Resolution 2003-48, 2. Request to relea a 7. City Attorney 8. City Administrator CALL TO ORDER ROLL CALL OTHER BUSINESS 1. Paul Kiobasa - Rotary Club Project in Lowell Park 2. Richard McDonough - Rumpf Marina 3. Discussion on Lumberjack Days 4. Discussion on Liquor Licenses, possible setting of hearings at 7:0 STAFF REPORTS 1.Pofice Chief 3. City Clerk 2.Fire Chief 4. Director of Admin. Adjourn to executive session for discussion of possible litigati 7:00 P.M. CALL TO ORDER ROLL CALL .PPROVAL OF MINUTES PETITIONS, INDIVIDUALS, DELEGATIONS 1. David Paradeau - Stillwater +H' OMMENDATIONS :R!I~te on Operations it' OPEN FORUM The Open Forum is a portion of t the meeting agenda. The Cou to staff regarding investigation ting to address Council on subjects which are not a part of ction or reply at the time of the statement or may give direction rns expressed. ;ayment of bills unds - Library PUBLIC HEARING 1. Case No. 9. his is the date and time to consider a request from Michael and Jeanne Lyner for a subdivis ,333 square foot lot into two lots. Lot A: 17,333 square feet and Lot B: 10,000 square foot frontage (75 feet required) located at 1031 West Abbott Street in the RA, Singl 'dential District/Shoreland District. Notices were mailed to affected property owners and p in the Stillwater Gazette on February 21, 2003. 2. Case No. B/03-12. This is the date and time to consider a request from Twin Cities Habitat for Humanity, In., for a subdivision of one parcel, Lots 5 and 6, Blk 5, Holcombe's Addition, into two parcels of 7,500 square feet each in the RB, Two Family Residential District. Notices were mailed to . affected property owners and published in the Stillwater Gazette on February 21, 2003. eNFINISHED BUSINESS 1. Case SUP/03-05 - John Kershbaum NEW BUSINESS 1. Possible approval bond sales - Dave MacGillivray, Springsted Inc ( 2 Resolutions) 2. Possible approval of feasibility report for 2003 Street Improvements and calling for hearing (Resolution) 3. Possible setting of public hearing for new liquor licenses. 4. Possible approval of storm water impact fees for annexation area lands (Resolution) 5. Possible approval of contract with Lane Design Group for downtown signage (Resolution) . 6. Possible acceptance of Trunk Highway 36 Impact Study and preliminary acceptance of Option F . PETITIONS, INDIVIDUALS, DELEGATIONS & COMMENDATIONS (continued) COMMUNICATIONS/REQUESTS * All items listed under the consent agenda are considered to be routin enacted by one motion. There will be no separate discussion on t s citizen so requests, in which event, the items will be removed fr separately. ouncil and will be nless a Council Member or agenda and considered COUNCIL REQUEST ITEMS STAFF REPORTS (continued) ADJOURNMENT . . 2 . REGULAR MEETING RECESSED MEETING CITY OF STILLWATER CITY COUNCIL MEETING NO. 03-04 Council Chambers, 216 North Fourth Street March 4, 2003 4:30 P.M. 7:00 P.M. 4:30 P.M. AGENDA CALL TO ORDER ROLL CALL OTHER BUSINESS 1. Paul Kiobasa - Rotary Club Project in Lowell Park 2. Richard McDonough - Rumpf Marina 3. Discussion on Lumberjack Days 4. Discussion on Liquor Licenses, possible setting of hearings at 7:00 p.m. meeting STAFF REPORTS 1.Police Chief 2.Fire Chief 3. City Clerk 4. Director of Admin. 5. 6. 7. City Attorney 8. City Administrator Adjourn to executive session for discussion of possible litig CALL TO ORDER ROLL CALL .PPROV AL OF MINUTES PETITIONS, INDIVIDUALS, DELEGATIONS OPEN FORUM The Open Forum is a portion of the C the meeting agenda. The Council ma to staff regarding investigation 0 City Council minutes. ing to address Council on subjects which are not a part of on or reply at the time of the statement or may give direction ns expressed. CONSENT AGENDA* 1. Resolution 2003-48, directing ment of bills 2. Request to release capital funds - Library PUBLIC HEARINGS 1. Case No. SUB/03-09. This is the date and time to consider a request from Michael and Jeanne Lyner for a subdivision of a 27,333 square foot lot into two lots. Lot A: 17,333 square feet and Lot B: 10,000 square feet with a 54 foot frontage (75 feet required) located at 1031 West Abbott Street in the RA, Single Family Residential District/Shoreland District. Notices were mailed to affected property owners and published in the Stillwater Gazette on February 21, 2003. 2. Case No. SUB/03-12. This is the date and time to consider a request from Twin Cities Habitat for Humanity, Inc., for a subdivision of one parcel, Lots 5 and 6, Blk 5, Holcombe's Addition, into two parcels of 7,500 square feet each in the RB, Two Family Residential District. Notices were mailed to affected property owners and published in the Stillwater Gazette on February 21, 2003. eNFINISHED BUSINESS 1. Case SUP/03-05 - John Kershbaum NEW BUSINESS 1. Possible approval bond sales - Dave MacGillivray, Springsted 'nc ( 2 Resolutions) 2. Possible approval of feasibility report for 2003 Street Improvements and calling for hearing (Resolution) 3. Possible setting of public hearing for new liquor licenses. 4. Possible approval of storm water impact fees for annexation area lands (Resolution) 5. Possible approval of contract with Lane Design Group for downtown signage (Resolution) 6. Possible approval Territorial Prison Development Agreement (Resolution) . 7. Possible acceptance of Trunk Highway 36 Impact Study and preliminary acceptance of Option F PETITIONS, INDIVIDUALS, DELEGATIONS & COMMENDATIONS (continued) COMMUNICA TIONS/REQUESTS COUNCIL REQUEST ITEMS STAFF REPORTS (continued) ADJOURNMENT * All items listed under the consent agenda are considered to be routine by the City Council and will be enacted by one motion. There will be no separate discussion on these items unless a Council Member or citizen so requests, in which event, the items will be removed from the consent agenda and considered separately. . . 2 ~~.~r~~c February 28, 2003 To: Mayor Jay Kimble Councilman Dave Junker Councilman Gary Kriesel Councilman Wally Milbrandt Councilman John Rheinberger Administrator Larry Hanson From: Dave Eckberg~.-!:' St. Croix Events, Inc. RE: Thunder in the Valley Fireworks '03 Lumberjack Days '03 Thunder in the Vallev Fireworks Proposal . We are proposing the following from the City of Stillwater for Fireworks this summer. That the City contribute the sum of $15,000 to help defray the cost of fireworks. This is the same contribution that the City has made towards fireworks since 1996. This summer we will be shooting three fireworks shows instead of our usual two. This is based on our celebration of Andersen Corporations One Hundred years and the loss of one show in 2002 based on severe rain. Our shows this summer will be held on Friday July 4, Friday July 25 and Sunday July 27. Once again our fireworks shows will be among the best shot in America this summer. In addition we would like the City to act as a conduit for Fireworks contributors, specifically the Margaret Rivers Fund and the Bayport Foundation. . Exclusive use of Lowell Park and Pioneer Park on July 4th. It is important that our office have the ability to coordinate activities in both parks. Central coordination eliminates the possibility of sponsor conflicts. P.O. Box 311 · Stillwater,MN 55082 · Phone651/430-2306 · Fax651/430-0553 City of Stillwater Proposal Fireworks '03/Lumberjack Days '03 February 28, 2003 page two . Lumberjack Davs '03 Prooosal Our Lumberjack Days dates for 2003 are Thursday July 24 through Sunday July 27. This summer we will be helping Andersen Corporation celebrate its centennial. The actual anniversary date of the Andersen incorporation is July 25. We are proposing the following from the City of Stillwater for Lumberjack Days '03. Exclusive use of Lowell Park and Pioneer Park during the celebration. The City to allow us to vend beer under the same basic guidelines that have been developed in the past. In return Lumberjack Days will: Contribute to the City of Stillwater up to a maximum of$27,000 for police protection costs. . Erect fencing at its cost to secure Lowell Park. Provide portable restrooms for the festival area and the Downtown area at its cost. Assume responsibility for cleaning Lowell Park and Downtown. I will work with City staff to coordinate services. I would like to investigate designing and building a permanent power system on the north side of Lowell Park similar to the one on the south side of Lowell Park. . . . . :~. LUMBERJACK DAYS '03 ANCHOR EVENT TENTATIVE BLUEPRINT a/o 3/01/03 FRIDAY JULY 18 6:00 p.m. "Sippin Down the S1. Croix" Wine Tasting Cruise WEDNESDAY JULY 23 9:00 a.m. Park set-up begins. includes concert, food, beverage, etc. THURSDAY, JULY 24 9:00 a.m. Park set-up continues 3 p.m. Treasure Hunt Opens Clue set # 2 released (if necessary) Clues Available at: TBA Demonstration Stadium Schedule Mulberry Point 5, 7 p.m. Local Exhibitions 4, 6, 8 p.m. Lumberjack Show Lumberjack Exhibition 5:30 p.m. Sponsor and "VIP" Reception Freight House Restaurant By Invitation only 7:00 p.m. Lumberjack Days Music Spectacular Night 1 "Hometown Night" Opener TBA CHEAP TRICK Floating Stage Lowell Park FRIDAY, JULY 25 9:00 a.m. Downtown Sidewalk Sales 12 noon Food Vendors & Exhibitors Open Downtown Stillwater 3:00 P.M. Treasure Hunt Opens Clue set # 3 released (if necessary) Clues Available at: TBA . . . Demonstration Stadium Schedule Mulberry Point 3, 5, 7 p.m. Local Exhibitions 4, 6, 8 p.m. Lumberjack Show Lumberjack Exhibition 7:00 p.m. Lumberjack Days '03 Music Spectacula.r Night 2 Opener TBA AMERICA Floating Stage Lowell Park Concert End Fireworks Finale SATURDAY. JULY 26 All Day Lumberjack Days Three on Three Basketball Tournament Rutherford Elementary School Hosted by SCV AP and V AA 7:30 a.m. "Pancakes in the Park" Freight House Restaurant Deck 8:00 a.m. Stillwater's Lumberjack Days '03 10 Mile Run, 5K Walk or Run Ends Lowell Park-South 9:00 a.m. Downtown Sidewalk Sales 10:00 a.m. Food Vendors & Exhibitors Open Downtown Stillwater 10:00 a.m. "Kids Fest" 1/2 K Toddler Trot & One Mile Kids Run 10:30 a.m. 6th Annual Kid's Coin Scramble Treasures Total over $200 Age Groups: 2-4, 5-7, 8-9,10-12. Lowell Park 11 :00 a.m. Minnesota State Strongman Competition Lumber Baron's Demonstration Stadium 12 noon Treasure Hunt Clue set #4 released (if necessary) Clues Available at: TBA . . . 12 noon "Bear Stock" "TEDDY BEAR BAND" With Special Guest "Itchy" Lowell Park Demonstration Stadium Schedule Mulberry Point 1, 3, Local Exhibitions 5 & 7 p.m. 2,4, 6,8 p.m. 1 :30 p.m. 2:00 p.m. 2:30 p.m. 5:00 p.m. 7:00 p.m. Lumberjack Show Lumberjack Exhibition LJD '03 Music Matinee THE DWEEB'S Floating Stage Lowell Park Authentic 1860's Baseball Game Quicksteps VS. St. Croixs of Still-Water Old Athletic Field Joseph's Family Restaurant Pie Baking Contest "Bring Your Best Pie" Joseph's Restaurant. Highway 36 Dinner Concert Stillwater Area High School Band Lumber Barons Demonstration Stadium Lumberjack Days "03 Music Spectacular Night 3 Opener TBA Main Act TBA Floating Stage Lowell Park SUNDAY, JULY 27 All Day 9:30 a.m. Lumberjack Days Three on Three Basketball Tournament Rutherford Elementary School Hosted by SCV AP and V AA Ecumenical Church Service St. Croix Valley Ministerial Association Lowell Park-South . . . 12 noon Food Vendors & Exhibitors Open Downtown Stillwater 1 :00 p.m. Lumberjack Days '03 Grande Parade Over 150 units 4:00 p.m. Post Parade Party at P. D. Pappy's Demonstration Stadium Schedule Mulberry Point 4 & 6 p.m. Local Exhibitions 5 & 7 p.m. Lumberjack Show Lumberjack Exhibition 7:00 p.m. Lumberjack Days Music Spectacular Night 4 Opener TBA "1964" (BEATLES Tribute Group) Floating Stage Lowell Park Concert End Fireworks Finale "Thunder in the Valley" VII Lowell Park Comments: ^ 41 non profit organizations participated in LJD '02. Our goal is to expand that in 2003. ^ In keeping with the "local participation" philosophy the demo stadiums in Lowell Park will be made available to local groups for periormances demos during LJD '03. Approximately twenty different demo times will be available. ^ We are working with the Historic District committee of the Greater Stillwater Chamber of Commerce to create a better synergy between LJD and the overall Downtown area. This not only involves activities during LJD but also at other times of the year. ^ LJD will continue the multi year process of lessening City of Stillwater support of the celebration. In 2003 we will increase the amount of money from LJD to the City for security in the amount of $10,000 up to a total of $27,000. .. . MEMORANDUM February 26, 2003 TO: Mayor and City Council FROM: Diane Ward, City Clerk SUBJECT: Liquor Licenses DISCUSSION: I have received applications for On-sale/Sunday liquor licenses for the following: Famous Dave's - Highway 36 (currently has Wine with Strong Beer) Savories - Downtown (currently has Wine with Strong Beer) Minnesota Zephyr - Downtown - proposed steak house in depot Boardwalk, Inc. - Market Place - proposed space in Ace Hardware Building . Letter of request - Contractors Property Development Company - CR 12/CR 15 I have also sent an application for a liquor license transfer in the Grand Garage (Kevin LaCasse). Currently, the liquor ordinance does not reflect the collection of fees on a license held by building owner that is not in use. Council may want to consider that any license held whether used or not, be paid for every year with the annual renewal process in the future. ACTION REQUIRED: Discuss and possibly set a hearing date (March 18) for the licenses at the 7:00 p.m. meeting. . .. . TIlEsrlY:~AJn! D!2T February 12,2003 Honorable Mayor anu City Coucil, The Minnesota Zephyr operations began in September 1986 in Spring Park Minnesota. It moved its operations to Stillwater in June of 1987. In Over 16 years and at the December 31,2002 year end figures we have entertained approximately 625,000 guests contributed $48,000,000 (Million) dollars in salaries, goods and services and have anchored the northend of Stillwater with beautiful facilities. We have attractive landscaping and parking facilities with up to 75 vechile parking spaces. We employ over 60 employees mosily from our Stillwater area and have spent nearly4 million in advertising to attract visitors to Stillwater and to the Zephyr. Our plans include an addition of a 2200sq ft building to the current depot building and will convert most of the museum to a 125 seat restaurant called the Stillwater Depot Grill. Our conservative estimate indicates that we will serve over 50,000 guests per year. The Stillwater Depot Grill will feature the finest food available with a variety of menu selections. . In our 16 year histor/ we have established an excellent reputation for exceptional quality and have been a major attraction notonly to Stillwater, but to the State of Minnesota from national and international visitors. According to the cities preliminary development plans, the.north end of towns addition of condomiums and hopefully some retail stores will finally complete and lengthen the main street of our city. The expansion to our facilities illcorperating a successful quality restaurant in an attractive building with more than adequale parking (combining our parking lot with the cities parking lot) will embellish the cities plans and contribute to the success and development of the neighborhood. We hope that the committee looks favorable to our request and grants our project application. SincereI)'~. ~~~:/. >._;--f;::~~__'_~==::::> /i;,:t/.~.: ,:.. "-,>-:{ .'...-: ( ..';;-~ David Parade au Owner Sin:~~ / 7r/~ Todd Weiss Manager . P.O. BOX 573, 601 NORTH MAIN, STILLWATER, MINNESOTA 55082 / 651-430-3000 / FAX 651-430-3662 . ,,--~ 108 NORTH MAIN STREET STILLWATER, MN 55082 (612) 430-0702 Honorable Jay Kimble, Mayor Members of the Stillwater City Council February 27, 2003 Dear Mr Mayor and Council Members: . We would like to thank you for taking into consideration our request for a full service liquor license at Savories Bistro. Kristin & I are proud to note that we have built a successful restaurant over the 12 years we have been in business on Main Street. Ours has been a slow and steady evolution from a small lunch spot to (as of mid February with our full remodeling job completed) a full service fine dining restaurant that we feel rivals some of the best of the metro area. Having made the commitment to this newly renovated restaurant we are also exploring the possibility of incorporating live music into our hours of dining to provide a type of sophisticated entertainment that has been noticeably lacking in our otherwise vibrant historic district. The atmosphere we intend to create would be further enhanced by our ability to serve classic cocktails, after dinner drinks and specialty coffees. Savories has always put creative cuisine at the forefront of our evolution as a business. The addition of cocktails would not alter this-rather create a type of dining experience that currently doesn't exist in Stillwater. . Savories and we have been active in supporting the activities and development of the Stillwater community. With another substantial . investment in our building and business we maintain the hope of remaining staunch supporters of our city and community activities. The anticipated revenue growth that we would expect as we continue to develop our business at Savories will allow us to continue to support local events at an even greater level than our current situation. We are enclosing a mock-up of a sample menu of cocktails and beverages would propose to add to our menu. And we would like to extend our personal invitation to all to visit our newly decorated dining room and enjoy the musical entertainment (most) Saturday evenings. ~ . Jeffrey & i tin Klemetsrud, Owners SAVORIES BISTRO 108 North Main Street Stillwater, MN 55082 651.430.0702 . . Here is a listing of some of the classic cocktails we would intend to offer, along with a description. WHISKEY COCKTAIL whiskey, bitters and sugarsyrup SHERRY COCKTAIL sherry, vermouth and bitter orange THE DUBONNET COCKTAIL gin, dubbonnet and orange CHAMPAGNE COCKTAIL champagne, sugar and bitters ROCK AND RYE rye whiskey, rock candy and lemon THE ALEXANDER gin, creme de cacao and cream THE BRONX COCKTAIL gin, dry vermouth and orange juice BARCADI COCKTAIL Bacardi rum, lime juice and grenadine . OLD FASHIONED COCKTAIL whiskey, bitters, orange, lemon, bitters and curacao CAMPARI COCKTAIL orange juice, soda and campari CARDINALE red wine, creme de casis and lemon DAIQUIRI lime juice, rum, sugar and ice MARY'S KNEES orange, lime and lemon juice vodka and grand marnier ORANGE BURBON SOUR orange and lemon juice, sugar and burbon GIN FIZZ gin, lemon, carbonated water THE SIDECAR brandy lemon and cointeau . GIN RICKY//MANHATTEN//WHISKEY DAISY//DIPLOMAT//BURBON ROSE//APPLETINI//COSMOPOLITAN AFTER DINNER INDULGENCES Brandy Alexander - creme de cacao & homemade vanilla bean ice cream with a drizzle of hot fudge Pink Squirrel- Amaretto and homemade vanilla bean ice cream with candied almonds Cafe Con Leche- espresso, kahlua, homemade coffee ice cream topped with candied espresso beans HOT TODDY'S & SPECIALTY COFFEES Candied Apple - Cinnamon Schnapps & Hot Apple Cider topped with whipped cream and caramel drizzle Hot Buttered Rum- Cinnamon Sugar & Butter, Rum & Vanilla Cream served with a cinnamon stick Highland Coffee- Coffee, Drambuie, whipped cream & honey drizzle All of course served in a classic glass with a fancy garnish. This is of course only a partial list but it will give you the indication of what it is we are trying to offer the residents of and visitors to Stillwater. . . . r- ',,-<ONTRL\CTOR ~;R()PERTY ~- ~-~~. ~ ~- ~ -----: Creating Neighborhoods of Merit January 23, 2003 City of Stillwater Honorable Mayor and City Council Members 216 North 4th Street Stillwater, MN 55082 Re: Application for Liquor License - Liberty on the Lake Retail Dear Honorable Mayor and City Council Members: . We are submitting plans on Friday, January 24, 2003, for preliminary plat approval along with 2 site plans, one for a bank and the other a convenience store in Liberty Village which is the retail area located in the northwesterly comer of Liberty on the Lake adjacent to County Road 15 & 12. In addition to these two site plans, we a have a restaurant site which will need a liquor license. We have heard that the City is/will be voting on a referendum to consider approving additional liquor licenses in the City. The purpose of this letter is to request and secure a liquor license for this site in Liberty Village. As you may recall, we have been before the joint board with a conceptual site plan of Liberty Village. At that time we also discussed the issue of reserving a future liquor license with the City. The response from the joint board was favorable of our request. Please give us some direction or feedback as to how to secure / reserve a liquor license for Liberty Village. We have worked hard at establishing design guidelines that we have presented to staff that is included in our preliminary plat submission. These guidelines insure this development will be unique to the City of Stillwater and further improve upon the esthetics and traditional neighborhood design that has made Liberty a community that we can all be proud of. Anchoring the development with a restaurant is our primary goal and without a liquor license we may not be able to locate an appropriate tenant. Please review our design guidelines and let us know what we need to do to secure a license for Liberty Village. Yours truly, #,er,4/~/// Homer H. Tompkins, III A_ President, Contractor Property Developers Company w.LPDC Corporate Offices: The Quadrant Building - 7100 Northland Circle - Suite 108 - Minneapolis, MN 55428 phone: (763)971-0477 - fax: (763)971-0576 - email: cpdc@schererbros.com . . . 4f' . . . CITY COUNCIL MEETING NO. 03-04 February 18, 2003 WORKSHOP 4:30 P.M. Vice Mayor Milbrandt called the meeting to order at 4:30 p.m. Present: Absent: Councilmembers Kriesel, Milbrandt, Rheinberger, and Junker Mayor Kimble Also Present: City Administrator Hansen City Attorney Magnuson Public Works Director Eckles Community Development Director Russell Police Chief Dauffenbach Fire Chief Kallestad City Clerk Ward Others Present: Planning Commissioners Middleton, Teske, Gag, Ranum, Perocheske, Wald Workshop with Stillwater Planninq Commission Community Development Director and the Stillwater Planning Commission reviewed the proposed options Trunk Highway 36. After considerable discussion with the Planning Commission the City Council consensus was Plan F for Trunk Highway 36. Discussion on 2003 Street Improvements Assistant City Engineer Sanders reviewed the proposed 2003 Street Improvements. He stated that the proposed project would include Holcombe, Willard, Walnut, Harriet Everett and Martha Streets. He stated that the improvements may include new streets, upgrading of storm sewer, rehabilitate sanitary manholes replace galvanized water services, install new sanitary sewer on Harriet Street, and the installation of new and repair existing sidewalks. Motion by Councilmember Rheinberger, seconded by Councilmember Junker directing staff to proceed with the feasibility report with the 2003 Street Improvements with the location of a sidewalk as shown in the presentation. All in favor. Discussion on Curve Crest Boulevard Improvements Assistant City Engineer Sanders reviewed the proposed Curve Crest Boulevard improvements. He stated that the proposed improvements would include the construction of a trail from Greeley Street to Market Drive located on the north side of the right-of-way. He stated that the feasibility report would include the portion of trail not provided by Mr. Nolde's project. , City Council Meeting - 03-04 February 18, 2003 ~ Mr. Sanders reviewed the proposed Curve Crest Boulevard lighting. . It was Council consensus to table the lighting at this time. Motion by Council member Rheinberger, seconded by Council member Kriesel directing staff to continue proceeding with the feasibility for this project. All in favor. City Engineer Eckles reviewed the current assessment policy and funding sources. He reviewed proposed changes to the policy and different funding sources. Motion by Councilmember Kriesel, seconded by Councilmember Rheinberger to continue working on the assessment policy and return to Council at a meeting in the near future. All in favor. Vice Mayor Milbrandt recessed the meeting at 6:20 p.m. REGULAR MEETING 7:00 P.M. Vice Mayor Milbrandt called the meeting to order at 7:00 p.m. Present: Absent: Councilmembers Kriesel, Milbrandt, Rheinberger, and Junker Mayor Kimble Also Present: City Administrator Hansen City Attorney Magnuson Public Works Director Eckles Community Development Director Russell Police Chief Dauffenbach Fire Chief Kallestad City Clerk Ward . APPROVAL OF MINUTES Motion by Council member Rheinberger, seconded by Councilmember Junker to approve the February 4, 2003 City Council regular and executive session minutes. All in favor. OPEN FORUM Mr. Kurt Cole, 128 Deer Path, stated that he received a parking ticket downtown on February 11. He stated that he felt that the residents should not be given parking tickets. STAFF REPORTS Police Chief Dauffenbach reviewed the annual police department report. . Fire Chief Kallestad reviewed the annual fire department report. Page 2 of 5 '? . . . City Council Meeting - 03-04 February 18, 2003 Public Works Director Eckles stated that Mr. Fixmer did a terrific job on the Open House and that it would be on the City Scene on Wednesday, Channel 16 at 9:00 p.m. CONSENT AGENDA* Motion by Councilmember Rheinberger, seconded by Councilmember Kriesel to approve the Consent Agenda. All in favor. Resolution 2003-40, directing payment of bills Application for lawful gambling exempt permit for raffle on March 20, 2003 - Common Health Clinic Application for lawful gambling exempt permit for raffle on March 8, 2003 - Church of St. Michael Resolution 2003-41, designation of additional depository for 2003 Resolution 2003-42, Request to purchase emergency pump system Resolution 2003-43, Agreement for removal of hazardous building with F. Bradley Castle UNFINISHED BUSINESS Boutwell South Area Traffic Stud v Community Development Director Russell stated at the December 17, 2002 meeting Council referred this issue back to the planning Commission for additional consideration and that it was stated that the County and State indicated an interest in participating in such an expansion area traffic study. He stated that because of the current budget short falls that no financial commitment can be made by the County and State at this time. Mr. Russell stated that the Boutwell Traffic Study consideration should be continued until April 2003 or until Washington County and Mn/DOT indicate an interest to pay their portion of the study cost. It was Council consensus that the Boutwell Traffic Study be continued until April 2003 and see if Washington County and Mn/DOT would be participating in the cost. Possible final plat approval for Parkwood Villas (Resolution) Community Development Director Russell reviewed the proposed final plat for Parkwood Villas. He stated that there was two conditions of approval, which were a 10- foot pedestrian easement, shall be provided for the trail along County Road 5 and the City Engineer shall approve the pond utility/drainage easement. Mr. Tim Nolde, developer, requested that he be allowed to file the plat even though the details of the development agreement are not finalized. Motion by Councilmember Rheinberger, seconded by Councilmember Junker to adopt Resolution 2003-44, approving final plat of Parkwood Villas. All in favor. Page 3 of 5 ... City Council Meeting - 03-04 February 18, 2003. Ayes: Councilmember Kriesel, Milbrandt, Rheinberger and Junker Nays: None . Possible aDoroval of develooer's aareement for Parkwood Villas (Resolution) City Attorney Magnuson reviewed the proposed developers agreement for Parkwood Villas. He stated that the City Engineer would determine the developer improvements and estimate of costs. Motion by Councilmember Rheinberger, seconded by Council member Kriesel to adopt Resolution 2003-46, approving developers agreement for Parkwood Villas, subject to review and approval by the City Administrator, City Engineer, Community Development Director and City Attorney. All in favor. Ayes: Council member Kriesel, Milbrandt, Rheinberger and Junker Nays: None NEW BUSINESS Aooroval of Parks & Ooen SDace Grant reauestfor Durchase of 6.94 acre Darcel located on - - Neal Avenue next to Brown's Creek Trail for Dark Community Development Director stated that the City is applying for a Parks and ope. Space DNR grant to purchase the 6.94 acre Munkelwitz property at 8270 Neal Avenue North, an extension to Brown's Creek Park and Nature Area. He stated that the Parks and Recreation Board is in support of applying for the grant that would pay for 50% of the land purchase. He also stated that a resolution is needed authorizing the submittal of the grant to the DNR. Motion by Council member Rheinberger, seconded by Councilmember Junker to adopt Resolution 2003-45, authorizing the submittal of the Outdoor Recreation Grant Program Application. All in favor. Ayes: Councilmember Kriesel, Milbrandt, Rheinberger and Junker Nays: None Possible aooointment to Downtown Parkina Commission (Resolution) Vice Mayor Milbrandt reviewed the application of Dawn Hall for appointment to the Downtown Parking Commission. Motion by Councilmember Rheinberger, seconded by Councilmember Junker to adopt Resolution 2003-47, appointing member to Downtown Parking Commission. All in favor. Ayes: Councilmember Kriesel, Milbrandt, Rheinberger and Junker Nays: None . Page 4 of 5 .. . . . City Council Meeting - 03-04 February 18,2003 COMMUNICATIONS/REQUESTS Request for reDresentative on the Lower St. Croix PartnershiD Team Public Works Director Eckles reviewed the letter from the Lower St. Croix Management Commission asking for the City to appoint a representative and alternate representative to the Lower St. Croix Management Commission. Council directed staff to recruit possible people for appointment to this commission. COUNCIL REQUEST ITEMS City Administrator Hansen requested that the City be allowed to get a credit card for purchases such as conference fees. Motion by Councilmember Rheinberger, seconded by Councilmember Kriesel authorizing the City Administrator to apply for a City credit card. All in favor. STAFF REPORTS (continued) ADJOURNMENT Motion by Councilmember Rheinberger, seconded by Councilmember Junker to adjourn the meeting at 7:45 p.m. All in favor. Wally C. Milbrandt, Vice Mayor ATTEST: Diane F. Ward, City Clerk Resolution 2003-40, directing payment of bills Resolution 2003-41, designation of additional depository for 2003 Resolution 2003-42, Request to purchase emergency pump system Resolution 2003-43, Agreement for removal of hazardous building with F. Bradley Castle Resolution 2003-44, approving final plat of Parkwood Villas Resolution 2003-45, authorizing the submittal of the Outdoor Recreation Grant Program Application Resolution 2003-46, approving developers agreement for Parkwood Villas Resolution 2003-47, appointing member to Downtown Parking Commission Page 5 of 5 .. ~ . . . LIST OF BILLS EXHIBIT n An TO RESOLUTION #2003- 48 Abbott Paint & Carpet Ace Hardware Action Rental Amdahl, Chris Aspen Mills AWl Diversified Brines Market Cargill Carquest Catco Parts & Service CDW-G C & H Distributors Coca Cola Coordinated Business DAR.E. Dell Computer Emergency Automotive Express Photo First Line Galles Corporation Gopher State Greeder Electric H & L Mesabi Holiday Commercial Hotsy Equipment Integra Telecom International Assoc of Chiefs of Police J H Larson Company Lake Elmo Chrysler Lakeview Hospital League of MN Cities Ins Trust Legislative Associates, Inc. Linner Electric Magnuson Law Firm Menards MACA MN Asphalt Pavement Association MN Chiefs of Police Association NEC Nestle Ice Cream Co. Nextel Neopost North Star International Trucks, Inc. Northwestern Tire Co. Office Depot On Site Sanitation Parts Associates Paul, Chris PC Solutions Paint Hardware Liquid Propane Tank Keys, Re-Keys Uniforms Drip Tanks, Benches & Cabinets Lunches for Election Judges Ice Control Equipment Repair Supplies Air Dryer & Fittings Digital Cameras, Sound Forge Sign Material Concession Supplies Maintenance Contract Copier Information Requested Computers Replace Siren Processing Concession Supplies Safety Cabinet, Wall Mount Hydro Master Billable Tickets Service Call Rutherford Lift FSE Edge,Curb Runner,Vidabutton Fuel Carbonate Plus Bulk Liquid Telephone Training Hardware Supplies Vehicle Repair Parts Legal Blood Draws Insurance Claim Deductible Legislative Services Put up and Removal of Christmas Lights Professional Services Hardware Supplies Dues Seminars Permits Repair Phone Equipment Concession Supplies Cell Phones Postage Labels Vehicle Repair Parts Tire Repair Office Supplies Northland Park Rental Equipment Parts & Supplies Reimburse Replacement Tools Maintenance Contract 48.69 2.93 95.85 169.80 296.48 5,700.70 162.86 7,576.93 1,860.94 539.66 602.14 1,321.32 1,289.85 274.50 28.17 3,941.71 257.00 6.13 980.90 214.07 4.65 1,623.00 798.36 669.78 509.60 898.94 460.00 35.92 71.14 120.00 500.00 2,916.67 4,280.00 10,385.83 402.35 30.00 20.00 31.39 605.00 95.76 271.61 53.30 168.94 2.00 874.19 45.22 335.08 265.44 143.00 . . EXHIBIT n An TO RESOLUTION #2003- 48 Page 2 Pearson Mechanical Repair Exhaust Fan 2,108.67 . Quill Office Supplies 501.34 Reliable Office Supplies 128.89 River Valley Printing Case File Jackets 340.80 Rogness, Kathy Reimburse Expenses 5.99 R & R Specialties, Inc. New Batteries Zamboni, Service Program 10,288.75 St. Joseph Equipment, Inc. Case Tractor/Loader/Backhoe,Handle 46,505.62 Sentry Systems Repair Charge on Security System 1,055.52 Sign Cad Systems On Site Training 1,500.00 Space Mobile & Modular Structures Repair Holes in Trailer 125.00 S & T Office Products Erasable Boards, Office Supplies 373.16 Stillwater Equipment Co. Drug Screen Kits 279.28 State of Wisconsin Bus. Registration Renewal Fee 10.00 Stillwater Gazette Publications 108.83 Sysco Concession Supplies 857.20 3M Sign Material 2,499.67 Thomsen, Tim Reimburse Conference Fees 906.08 Tomten Environmental Design Liberty Plan Reviews 260.00 Trust X Hydraulic Pallet Truck,Drum Spill Station 1,574.65 Uniforms Unlimited Uniforms 107.65 Vance Brothers, Inc. Tar Kettle 31,870.13 Wagner, Chris Equipment Repair 113.00 Washington County Truth in Taxation Notice 2003 1,236.29 Washington County License Center Police Forfeitures 12.50 Washington County Sheriff's Office ID Cards 21.30 . Washington County Transportation Traffic Services 58.73 Winnick Supply Inc. Iron 312.85 Yocum Oil Fuel 2,799.33 MANUALS FEBRUARY 2003 Attorneys Title Land Purchase Historical Society 50,760.00 IRS Arbitrage Rebate Payments 42,956.64 Plant Health Association Nov-December 2002 681 .11 Postmaster Newsletter, 1 st Quarter Utility Billing 2,238.97 Tubby Lohmers Travel Airline Tickets NLC Conference 1,037.00 Waste Management 2002 Garbage Certification 7,864.95 ADDENDUM TO BILLS American Planning Association Membership 299.00 AT& T Broadband Cable 71.57 AT & T Wireless Cell Phone 235.34 Best Western Kelly Inn Seminar Housing 245.28 Bisco Clean Air Clean Air System PWF 14,233.99 Buberl, Larry Animal Transport 25.00 CDW-G Computer Supplies 57.49 . Cole Paper Janitorial Supplies 265.40 Energy Sales Repair Co-Ray-Vac Lily Lake 758.16 .,. . . . EXHIBIT" A" TO RESOLUTION #2003- 48 Ensign Enterprises, Inc. Heritage Printing Kroening, Nan League of MN Human Rights Commission Lee Wayne Corporation Magler, Jeff MAMA Met Council Municipal Emergency Services Office Max Owest Section 3 AA Total Luxury Limosine Walmart Watson, Dennis Xcel Adopted by the City Council this 4th Day of March, 2003 Page 3 CPR Classes Resident Guides Uniform Repair Dues 2003 DARE Supplies Uniform Allowance Labor Relations Subscriber Service February SAC Report Bunker Gear Office Supplies Telephone Gate for Section 3AA Playoff Coach Rental Moody's Tour Supplies Computer Programming Electricity, Gas TOTAL 160.00 4,875.41 20.00 78.75 32.22 353.15 4,177.00 16,409.25 1,232.56 38.33 308.79 1,368.00 259.60 67.91 75.00 34,228.74 343,363.64 -----------T-.----------------------------------- - /::-1 I r---------, , I i :.' L! -----h- 1\ -r ,-' I' 1\ Ii ) I . I I \ I . /---..-..... ---~ ; i I \ $ f'. .... ,," i . I,'. 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'<j IS! ~. ~-q..._._...... ~u ~ liiiJ~~ i ""'.-""'W 4iJ ~~. ~~ .. :::::: C) 0::: LL 0... f"1 M /"'... ]I . -, i;"'l I. 1.._ -- -- ~" ~~".. n ISI is! OJ I OJ OJ I Z ([ IJ ~, <'i' eJJ 60' \lv'[;5f ~U;V A110N " ." . Memorandum To: Mayor and City Council Steve Russell, Community DevelvpUlent Director fL/" February 28,2003 From: Date: Subject: Subdivision of an Existing 27,333 Square Foot Lot into Two lots of 17,333 Square Feet and 10,000 Square Feet Located in the RA, Single Family Residential District/Shoreland Overlay, 1031 West Abott Street. Case No. SUB/03-09. This item was heard by the Planning Commission at their meeting of February 10,2003. The applicant meets the lot size and dimension requirements for the zoning districts. A drainage and utility easement is dedicated as shown on the survey as determined by the City Engineer. . Recommendation: Decision on request. . Findings: The subdivision meets zoning requirements and is consistent with the Comprehensive Plan. Attachments: Application, CPC staffreport of2/10/03 and notice of hearing. ~.~,c . ACTION REQUESTED Case No: ~3 ~> Date Filed: ~ Fee Paid: ~ Receipt No.: ~ FEES f~~". /'-:.'.1 \ " PLANNING ADMINISTRATION APPLICATION FORM COMMUNITY DEVELOPMENT DEPARTMENT CITY OF STILLWATER . 216 NORTH FOURTH STREET' . STILLWATER, MN 55082 Special/Conditional Use Permit $50/200 -X- Variance . . . $70/200 Resubdivision $100 ..)LSubdivision* $100+50/1 Comprehensive Plan Amendment* $500 Zoning Amendment* $300 Planning Unit Development * $500 Certificate of Compliance $ 70 *An escrow fee is also required to offset the costs of attorney and engineering fees. The applicant is responsible for the completeness and accuracy of all forms and supporting materiai submitted in connection with any application. All supporting material (i e., photos, sketches, etc.) submitted with application becomes the property of the City of Stillwater. Sixteen (16) copies of supporting material is req':lired. If application is submitted to the City Council, twelve (12) copies of supporting material is required. A site plan is required with applications. Any incomplete application or supporting material will de/a. application process. P~oo. IP ~ ';~,O~O. z.". 21,.0'::11#0"7 PROPERTY IDENTIFICATION (J?;~';"$ Address of Project lo'OL.k!.. ~.r~ Assessor's Parcel No. ? .'I~'6 ~k1~ . ~EOCode) Zoning District .~~ 'fJL Description of Project ~ -,- ~LJ, j /'1IALot!... J ..rrr _ UflJl ~ }c,;77..,rA T fP-A>'\/."'" I nr W'\.D'714 1/;..f!.JA.NfJ,__' f::lfO'PJ1 ~FL <;:::A<J:~HfAl:r - -, - "/ hereby state the foregoing statements and all data, information and evidence submitted herewith if respects, to the best of my knowledge and belief, to be true and correct. I further certify I will comply the permit if it is granted and used. " Property Ownerll'CJI~ g, 'S"tA~ LVAJre.. Representative t>i.C~ ~1k?-~ ePl M e.E.AL--rt( Mailing Address-1 ~ I 7~ r ~ i.( q-; Mailing Add~~ss "7 -an 1=-... r Hf';rNcJ7 s,,'f City-. State ;,_ZipSLJ(~.~W f\7~Ll MA' . ~ . City.- Stat~ :'ZiP..:2lJL.LL.JA::1!.e., Mt); -S5~ Telephone No. 5 J L4.- 30 --1Hn Telephone NO.--C 6s f) 4-:>9..-- 7'51 ~ Signature ' . ~ L Signature . _ (Slgnalure Is re~~ (Signature Is required) ~ '\ SITE. AND PROJECT DESCRIPTION ~t~ Lot Size (dimensions) ...:::.... x Total Building floor area ~ squa.et Land Area )0 ,OtXJ 4:: Existing ~ are feet Height of Buildings: Stories Feet Proposed - square feet Principal Paved Impervious Area _ square feet Accessory . No. of off-street parking spaces -- H:\mcnamara\sheila\PlANAPP.FRM April 12. 2002 \ \ r-- r . Planning Commission Date: February 10, 2003 PLANNING APPLICATION REVIEW FORM CASE NO. SUB/03-09 Project Location: 1031 West Abbott Street Comprehensive Plan District: Single Family Residential Zoning District: RA Applicants Name: Michael Lyner Type of Application: Subdivision Project Description: Request to subdivide an existing 27,333 square foot lot into two lots of 17,333 and 10,000 square feet. Discussion: The request is to subdivide an existing lot into two lots of 17,333 square feet (Lot A) and 10,000 square feet (Lot B). The lot size requirements is 15,000 square feet for the riparian lot, Lot A, and 10,000 square feet for Lot B. For the nonriparian lot, the width and depth requirements for is 75 feet wide by approximately 100 feet deep. A building site location is shown on Lot B with required setbacks. .. Recommendation: Approval Conditions of Approval: 1. All utility and drainage easements shall be provided as required by the City Engineer. 2. Lot A shall have an area of 15,000 square feet minimum excluding lot area below the ordinary high water mark for Lily Lake. CPC Action on 2/10/03: +7-1 approval ;...,~~., . ~~ ( #. .Jeanne & Michael Lyner 1031 W Abbott St Stillwater MN 55082 (651) 430-1.190 . 23 January 2003 Mr. Steve Russell Community Development Director City Hall 216 N 4lh St Stillwater, MN 55082 Re: Variance, Minor Lot-Line Adjustment Request, and Storm Sewer Easement Lyner Residence 1031 W Abbott St, Stillwater (Walter Nelson's Addition - Lots 12, 13 & 14) Dear Steve: We would like to be able to split our existing property into two, maintaining our existing residence on Parcel A (Lots 13 & 14), and forming a separate buildable lot as Parcel B (Lot 12). As discussed, we believe this will require the following City action: · Approval of a minor lot line adjustment to realign the lot-line between Lots 12 and 13, creating a . 10,000sf lot (This adjustment would enable the lot to meet the current minimum lot area for this area.) · Approval of a minor variance to Parcel B's (Lot 12) front lot width. (The ordinance requires a 75ft width at the 30ft front yard setback. The proposed lot provides 64ft width at the 30ft front setback. As the lot is pie-shaped it provides more than 100ft width at the rear, and also backs onto a 60ft wide ravine, leaving plenty of open space. Also, both neighboring residences have their garages closest to this proposed lot, minimizing infringement on habitable space.) · Acceptance of a newly created 20ft wide utility easement directly over the existing storm sewer. (No easement presently exists for the City to be able to maintain their storm sewer under our property. We are able to grant this easement at the same time the survey work and legal descriptions are being established for the lot-line adjustment.) We would appreciate your approval/acceptance of the above three issues. Sincerely: ;,...,~~. Mike Lyner Attachments: · Planning Administration Application Form (x1) . Site Plan (x16) · Legal Descriptions (x16) . ., ; / / ~ CAU.IEFOIl!YOUOICI Oopher state One CaD 1'WINCllYAIEA: 1$1-454-0002 TOLLFaEe I-1OO-ZSZ-I1U If .- I -, I ,~ !;;:\S ~~ 0... g~ I If If I I vi t I < ~ ~~~ ~. -~ ...~~~ ~~~~ ~ l!: '" !!l I ~, ~ '... '\ --... , -' ~ <'" ~ _,...""J ~... '" <'..,'. \ I ~ ,> , III ' Vq3.33 Nl:T 103.33 Di:SC. I I I I I I I L_____~-------------_____________________________________ \ ~ ~ EXISTING LEGAl OESCRIPTlON: -e, II An at tat ThIrteen (11). except tM EuI fIfteea (I 51 feet Ihereor. and all of LaC FourtunCI4),erapldIII,. thereof dtlcrlbed as fG8aws: ~~U~_M~__~~~ founnn (1<41. w"" Is on Owa InIt .....w,..... (I.ladJo......._.(I!)_......~ond hlcm, a dlslaftce .,Tftftty(2D)................._ bouaduy ...., Saueh Owen SIrHt to . paInI: an Soulh OWUSlqer"runnI......nc:...." _"', ........... 10 1M mast Wet..., corner of.... lAc fcluMIA wIIk:b ..b com..... WI....., COI'MI wIdI Lot ,.,.. Ct S), ..... ....- -,.......... .............baundoJy..'" \.Dt 14 (l4)"w1dch Is III COInMOll bound.y.....Lat (IS), to'" poIntofbtgfMfng. d"'aWM.1UNII.SON'S ADDfIlON . according .. ... pia ......., CII.. 01 fKOfd Ia die ofRee of tbt Registrar oI11des. County. "- And t.at1'ln:Ive<< except the &lltT.- C1OJ"1hereaf"and 1M bn Ftbtn (I 5) teet of I.M 11ttrtHn (I))" WALTER NELSON'S ADDmON. according 10 the plat 1henot on tie and 01 record In.... office ofdte RetIIUU of TIlles. Was'*'trDn CowIy.- . ~ WIRES l:;~;ii o CtI.\UT CAS II.... flNCI CONe..... DlHOTU FOUND IJr -.oN '", DEMons $tT In-IRON PIlE MARKm RLS 25711 o DOlOTES 1A1l1 SET IV S1'a1WA1lR "'" I ".'., ~ DEPNmlENT TO lOCAn~E UNDERGROUND STO.M SEWEll LINE. LOCAl'EDIY "~". ':"..,'~ J t.NIDSUAVEYtNC 1...lt-Os. cNOTES: I. IEARINCS AREASSUMED 2. l.ECAL DESCIUP110N PRCMDQ) IY OWNER ICERnlCATfOlmutl42555 1. iASENENT INFORMAllON.1F ANY, NOTSHCMN ar. RESEMCHm. THERE. WOE NO MEMORIALS usrm ON aR'11FICATE ClFmu.f4255S. OTHER fASENENT$ NAYiXIST. ~ ARE,l ~UM~ + TOr~PARCaAR'AoAJ~noGOll)3.df o FLOOD INFORMATION: , ZONE C, ARIAS OP ........ fLOOOlNC:, .......... INSUIWIa RATE MAP COMMINIY-PANELNUMIER Z75Z4!HJOOSCMlEDRII.l"" '. '. .. ~lQf1JtE PROPERTY UE WIIltIH ZONi A, AltEASwmtIN IDOl'EM. fI.llOD lIANCL hri..J . SCAlI: 1 ItCH . SO FEET NORTH ~ : . ~ '" OWNER: v MIKE l'WNER 1031 AUOnPlUTWIST STULWAlER. MN 55012 o COUNTY: WASHINCTON. COUNTY SEAL: C...nATlOF~DClSNOJ ........... C CERTIFICATION: ...........,......_-........ .,..........""tI............ ..........., uc.u.lILlNfs..w,. ~.J..ItIG:1TA. -....L~........._"". _....",oz " REV1SIONS: VClA'II IMSIQII .1'" CIIICIlMlSUIM't ...... .....SUIDIIGON ^ PROJECT LOCATION: v ___ -.,.-........ EE-=-' RES.E:>E......c:e 5.,-. LL'\N.A.,-ER " '"" ... CORNERSTONE LAND SURVEY'Ne. 'Ne: V ...- -... ........ - MINOR lOT SUBDIVISION SHEET I OF 2 SHEETS PROPOSED e PARCB. .A" DESCRIPI'1ON: Lat 'aulteefl (14), eccepr INt PMt tbereof described.l' 'oHows: leglnnlng.. - most NortherrvCOtMf dsaid lot Fourteen tl4). whICh Is on OWen Streetwherel.ol: Fourteen (14) adJotns Lot Fifteen (IS) running lheaceSoutbertr and fit..... distance oI1\nnly 120) feet menu,ed .Iong the bouadary One or South Owen Slreet loa po_lnt on South (Men Street. running thence ~. '-".' ",' In. straight line 10 the I1'I05l We5terlr comer 01 Slid 1.01: Fo&Irteen whkb Is lIS common Weslertv corner WIth LoC Fifteen (1 s). runntng Ihence rlHlheastertt.ltono tfIe Wes~ boundary Una 01 LOI: 14 (1 4)_lCh 1$ lis cammon boundary bneWith Lot 05). to the point or begbtnbag..II.a WALTERNElSON'SADDfTJON. '" ". ,;, ,. 10 the pI.1 thereoton Ole and 01 record in the offke of the Reglsmu ofTltIel. Washington Countv. Mlllnesota. And Those INI'IS or LoIS 12.nd 13. WALTER NELSON"S AODmoN. accOldlno to rile pili thereof on file Ind of ~ In die offlce of die RegIsU., 01 lilies, -.......COU...._.desc_ os_: ........... .t. point on die nonIt ane ohlkf Lot 12 distant 64.00 feet weslerfr fl9lft the IIOftheaSf: comer 01 saki Lot 12; Ihente soutlMesterly to a ....lIlon IIIe~UII"f"ld ....,3 cllsUIIll0U3 foet_lerIyfrom ll1e_ CO...."hereof; _0_1<<1y.101lO.11e SOO'_11ne of laid LaI: 13 to the soudMest CQmerolllldLat 19; thence nodheasCerIyalong me__Iv ... ot Aid lollI 10 northwest COllIer ofuld Lot: 13; .henc............rtv.... ......Iy along the ....h..1y Une of Slid lois 13 .... '210 the poIn. of r. ., PROPOSED . PARCEL.r DESCRIPI1ON: <,;0 . . Thole".." of lois 12 and 13. WAlTER. NEl.5ON'S ADomoN. according to the plat thereof Oft file and al record in the office 01 the RagfsI..... of nlles. Washington County. Minnesota" described as folbws: Beglnlllng at .1Ie ....h........... of Mid Lot 12; thence....lerIy....g thollOnher1v In. ors.id....12 . _ '" 64.00 reel; thence southwesterly to a point on the lOUlherlv line of said lot 13 distant 103.33 feet _te'~ from lhe SClUlheasr corner thereof; thence easterly lIong dte souIhedv be of said Lots 12....d 13 a distance d 103.3'3 feet to the IOIdheast ~ 01 lot 12; thence nortberfv along the USlertv line ol,aId "".1210 .lIepoln. "'beginning. f>copt ........10.00 r...", Lot ,2. <> PROPOSED fASEMENT DBCllIPl1ON; An easement for Stom. Sewer Purposa 20.00 feet over, under and ICf'05,S the following described ~. A9 "'.Lo. Thirt.... (13). _'he Ees'I'_llSlleet th....... end.U '" Lot Fourt.... ('41, eccepl.hat pul......." described .. follows: CommencIIIO ...... mos. . - .. ccm.. oh..d Lot foun_ (14~ ....1<11.. on o.en Sboetw..... Lot _ (14) ndjolns Lo. -. (15) running - 50utherly and Ees.erIy a di...",o of Twenly(20) r............... eIong.he boon"" line of South o.en Sboet 10 a poln. on South o.en ~ nanning lheac:e Sotllhwesterly in" straight lin. to Ih. most Wacerty com.of uld Lot fourteen.....1ch II its common Weslertvcomerwllb laC Fif_115~ running thence.........terIv along theWeslerly boon"" line of Lot '4 (14~""ich .. '" _mon boundlllY 6.._ .... (l5~ to the pol.. of beginning. all Ilia W....lER NB.SON'S ADDITION. ....nlllIO 10 th. pial lh...., 011 mund of _In lhe off.... "'.... Registrar of TItles. Washington County. Ul_ And lot T...... (_ the Eost Ten (10) reel the...". .nd th. Ees. Fir.een (15) ,... of.... Thin.... (13). w....lER NElSON'5 ADDmON.lICCOnllng lo.he pLll' theJeoI on fde Ind of.-ordin the ofrK. of the Regis.,. d Tides, Washington County, Uinne5ota.. Ibe "-..,.. ,.. "of ufd easemenl is desaibed 1$ folcM5:~. "~ '.' J lithe northeast co,n..ohlid Lot: 12; thence on an assumed bearing dSoulh a9 clog.... 45 minutes . J seconds Wes. along th. nonher1v line" ..id.... 12 . dlsta",. of 66.13 r... 10 tho POIn' of beginning of'he _erlne 10 be described; thence SouIh 19 degrees 40 minutes 21 seconds West a distanCe of 25.52 feet; thence South 02 degrees 56 minutes. 19 seconds West. distance Gln.os feer, IhenceSouIh 12 deg.... 31 minutes 49 seconds Welt a distance tJI 37.69 feet to Ihesouth hneol said LoI: '3,..d said lne there lerminaUng. The side lnes 01 said easement are to be ed:ended 10 there: fua width to termlnale on lite nonherly In.d southedy lines of the above described propeny. . \ ~ . eNOTES: 1._CSAlll........m z. IKAL DESCIUPTION PRCMDEDIIY'CMtflR (CERTFICATI CfTlllE# 4ZSS5 3. EASEMENT INFORMATION. If NIt. NOr StIOWN OR RESEARCHED. lHERl! WERE NO MEMORIALS USTED ON camFlCATE OFTIIU:....2SSS. OTHER fASEMENnMAYEXIST. THIS, ,',.,' ~"" SUIoMStoNWl.LREQlIU YARlANaJ fROM lltE Q1YCf $1'I.LWAnK fOR FRONT YARD MIN1NUM WIDI'H. i " OWNER: V' MIKE LYNEIl '0.s1 AIIOlTstRRrwur S11U.WAlER, 11ft SSOI2 ,.. COUNTY: V WASHINCTON. COUNTY ,.. SEAl: V 1IlInoVIMMINIitISGt\OClISNOr -..... C CERTIFICATION: ......,..".........-...... -............-........... lllal"."" ......IarIdSurwwcw ..........."....."MIIHI5OJo\, :E:!l:.~...,._ 11711 _"'I.oJ <^. REVISIONS: ./ OrA" ..... ...,.. OllGlIMUUIMY 1-1'" MINOISUIllMSION o PROJECT LOCATION: ----.--. E!:""",- RES.I:>E.....c::E ST'LL,^,A.TER. C ... CORNERSTONE LAND SURVE'VINCi. INC: ~ ...- -.... ""'" MINOR LOT SUBDIVISION SHEET 2 OF 2 SHEETS . . . . '--- c r~illwater ~ - - ~~ ~ -, THE BIRTHPLACE OF MINNESOTA NOTICE OF PUBLIC HEARING SUBDIVISION Notice is hereby given that the City Council of the City of Stillwater, Minnesota, will meet on Tuesday, March 4, 2003, at 7 p.m. in the Council Chambers at Stillwater City Hall, 216 North Fourth Street, to consider a request from Michael and Jeanne Lyner for a subdivision of a 27,333 square foot lot into two lots. Lot A: 17,333 square feetand Lot B: 10,000 square feet with a 54 foot frontage (75 feet required) located at 1031 West Abbott Street in the RA, Single Family Residential DistrictjShoreland District. Case No. SUB/03-09. All persons wishing to be heard with reference to this request will be heard at this meeting. Steve Russell Community Development Director Publish:' February 21, 2003 ~....<>-- CITY HALL: 216 NORTH FOURTH STILLWATER, MINNESOTA 55082 PHONE: 651-430-8800 . . . ......0:.11' "VI' VU If.LIV.LV...O 1""n.A Ui,J.l.. 'lulU OiJ t V LAnt~lb" ttu~rllAL AVMiN I(lJUO;: ~~ LAKEVIEW HOS1'11AL LaktlJicw Hospital's Mission is to deliver superior qJlIIlity .emce i1l co(]perrlticm with others to mett the diverse he/lItheare needs of individua&, families /lnd communitil!5 of the St. Croix Valley. March 4) 2003 . Steve Russell, City Plann.er City of Stillwater 216 N Fourth Street Stillwater. MN 55082 RE: 912 West ChurchiH . . Lakeview Memorial Hospital requests a continuance until April 1, 2003 on the decision to subdivide the lot at 912 Churchill Street, pending a decision on demolition of the house at same property. 927 West Churchill StNet . Stillwater · MinnesotA. 55082 · Phone: 651-4~9-5330 . Fax: 651-430-4528 . Home Page: www.lakeview.o.g If . Memorandum To: Mayor and City Council Steve Russell, CODlIDlmity Development Director Iv February 28,2003 From: Date: Subject: Subdivision of an Existing 16,500 Square Foot Lot into Two lots of 9,000 Square Feet and 7,500 Square Feet Located in the RB, Duplex Residential District, 912 West Churchill Street. Case No. SUB/03-12 This request was heard by the Planning Commission at their meeting of February 10,2003. There was some concerns from the neighbors regarding the existing one structure being replaced by two future single family residences. The future deveh",pJ.uent of the lot is not the subject of this subdivision review. A companion demolition request is in process with the City's Heritage Preservation Commission (3-19-03). A condition of this subdivision approval is HPC approval of the demolition permit. . This subdivision request could be continue to your meeting of April 1, 2003, to receive the HPC demolition action or approved subject to demolition permit issuance by the HPC. Recommendation: Decision on subdivision Attachments: Application, CPC staffreport and notice of hearing. ;"'~F . . "" ~'.. PLANNING APPLICATION REVIEW FORM . CASE NO.SUB/03-12 Planning Commission Date: February 10, 2003 Project Location: 912 Churchill Street West Comprehensive Plan District: Two Family Residential Zoning District: RB Applicants Name: Robert White representing Habitat for Humanity, Inc. Type of Application: Subdivision Project Description: A subdivision of one parcel into two parcels. Discussion: The applicant is requesting a subdivision of one parcel, Lots 5 and 6, Block 5, Holcombe's Addition, into two parcels of 9,000 and 7,500 square feet each. The applicant applied to the Heritage Preservation Commission for a demolition permit for an existing house at the February 3, 2003 HPC meeting. The Commission requested more information before making the decision. The house is situated on both lots. If . th~ permit were not granted, it would not be possible to have two parcels. Recommendation: Approval with conditions. Conditions of Approval: 1. Approval of the subdivision providing HPC approves the demolition request of the existing house. Attachments: Application form and site survey HPC Action on 2/3/03: Denied due to insufficient information. CPC Action on 2/10/03: Approved +6-2 ~~..' . , PLANNING ADMINI~TRATION APPLICATION ~RM Case No: Date Filed: Fee Paid: Receipt No.: ~$/pa-; ~~vli; */S"~. . ACTION REQUESTED FEES COMMUNITY DEVELOPMENT DEPARTMENT .CITY OF STILLWATER 216 NORTH FOURTH STREET STILLWATER, MN 55082 Special/Conditional Use Permit $50/200 Variance $70/200 Resubdivision ., . $100'. XSubdivision* .. , $100+50/10t =:Comprehensive Plan Amendment* $500 '. _Zoning Amendment* $300 Planning Unit Development * $500 Certificate of Compliance . $, 70 *An escrow fee is also required to offset the costs of attorney and engineering fees. The applicant is responsible for the completeness and accuracy of all forms and supporting material submitted in connection with any application. All supporting material (i e., photos, sketches, etc.) . submitted with application becomes the property of the City of Stillwater. Sixteen (16) copies of . supporting material is required. If application is submitted to the City Council twelve (12) copies of supporting material is required. A site plan is required with applications. Any incomplete application or supporting material will delay! application process. PROPERTY IDENTIFICATION . Address of Project 912 C1:w..rf"'hi11 ~i- W Zoning District RB-2 Fam.DescriptionofProject s?1i.... ~yi~Hri!J T::IV :'-::11'",..01 ;ni-C' i-Typ" Assessor's ParcetN(). 33;..-{)..1D- '?f\_? 1_ri.D~11 (GEO Code) . C!O~::lJ:.?TO T::IY ~.aJ:.ro1 ",. ; '" aC"'C"'ordanC"'P wi t:h t:hp at.t:aC"'hpd Flilr"T~~_ ", hereby state the foregoing statements and all data, information and evidence submitted herewith in c respects, to the best of my knowledge and belief, to be true and correct. , further certify' will comply w the permit if it is granted and used." , Twin Cities ProperlyOwner Lakeview Memorial HOFlpit:al Representative Habi"'::lt forHuman~TY_ T', Mailing Address--2.V ~hurC"'hi 1 1 ~-I- T1.1. City- State -Zip St;il1water.. MN ".5.0.A? Telephone No._( Mailing Address_lQ..Q..1 4 tJ'lfl t,,~ :=: F. City;- State - ZiP..M.iiwo?p.Q}; R '~l\f '~1114- Telephone No. (612) ~3! -~Q~Q s/gnafure:Jf~i4 ~- . (Signature Is required) . Lot Size (dimensions)l..O.8 x....1.5..l Land Area-App1'"0Y 1 f; r 1n,Q Height of Buildings: Stories . PrinCipal 1 . Ii Accessory .1iA C:::;'l J:'f:- Feet ?fLLApprox.) SITE AND PROJECT DESCRIPTION . Total Building floor area 1 ~.1 on square feet Existing 1 " 1 00 square feet Proposed square feet Paved Impervious Area 0 square feet No. of off-street parking spaces H:\mcnamara\sheila\PLANAPP.FRM April 12, 2002 2ND ADDITIOl"~ , C) WEST iii J \1 1J-, iii 13 58 J\1 p7l 11 126 14 J 126 58 WEST o ~ 50 25 25 50 "'- t 1iI~ .... -r ....." 8 2 1 p" 3 .-. I ~ ~~-..,- 11~./ 4 5 6 ..". ..-. P'" iii /11- 7 , o ~ '- iii iii - WASHINGTON SQUARE PARK 21 p1a, . &trr : :M~A+~r '" ~ 3 iii 2 iii 1 iii , I pijp.r - ~ -I ~\ 1009 I "II' ~022 _-r~ ~ 4~ ~ ~ ~ - 1~50 . i + 60 WEST g I 0 ~ ANDERSON SlI t ,. f 5O~ 50 .... ..." ! iii . 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PIlane (851)GQ.65TS fWCIII....__onAS400~ -..nI1Iwugtl: ,..".....30.2lII2 ...,priN..t ""'*Yrr.2003 . . . -"~ ./ (-- rJ; ~ llwater ~ ' - ""'" ~ - -'~ ~ THE BIRTHPLACE OF MINNESOTA NOTICE OF PUBLIC HEARING SUBDIVISION Notice is hereby given that the City Council of the City of Stillwater, Minnesota, will meet on Tuesday, March 4, 2003, at 7 p.m. in the Council Chambers at Stillwater City Hall, 216 North Fourth Street, to consider a request from Twin Cities Habitat for Humanity, Inc., for a subdivision of one parcel, Lots 5 and 6, Blk 5, Holcombe's Addition, into two parcels of 7,500 square feet each in the RB, Two Family Residential District. Case No. SUBj03-12. All persons wishing to be heard with reference to this request will be heard at this meeting. Steve Russell Community Development Director Publish: February 21,2003 ~ff~' CITY HALL: 216 NORTH FOURTH STILLWATER, MINNESOTA 55082 PHONE: 651-430-8800 ,.. , . · ~emorandum To: Mayor and City Council yV From: Steve Russell, Community Development Director Date: February 28,2003 Subject: Special Use Permit to Use City Property for Gondola Loading Dock (Case No. SUP/03-0S). This item was reviewed and approved with conditions by the Planning Commission at their meeting of February 10, 2003 (staff report attached). Because the city owns the land, the action of the Planning Commission was recommended to the City Council. Since that time, the applicant, John Kerschbaum and Dick Anderson, have come to terms with using the public docks for Gondola boarding. As a result, Mr. Kerschbaum is requesting the special use permit be tabled for nine months to . evaluate the current arrangement. Recommendation: Approval of continuance of SUP/03-0S to Council meeting of 11/4/03. Attachments: Planning Commission staff report and letter requesting continuance dated 2/20/03. . . ;,.",- / //1........" . .... / " tJ . \-Y ~'v,\\\J'1.' 'r To the City of Stillwater 2-20-03 Request for nine month suspension or continuance of a special use permit for a dock on city property south of the Dock cafe. The dock was to be used for loading and unloading gondola passengers. Reason for suspension is so Gondola on St. Croix can pursue a contract for use of dock with St. Croix Boat and Packet. As requested by the City. Thanks for your support. Sincerely ~ ---.-.. John Kerschbaum Gondola On St. Croix Box 738 Stillwater MN. 651-439-1783 . ;.:..: :-,~ . I' . PLANNING APPLICATION REVIEW FORM CASE NO. SUP/03-0S Planning Commission Date: February 10, 2003 Project Location: City Property on river south of Dock Cafe Comprehensive Plan District: Central Business District/Bluffland Shoreland Zoning District: CBD/BS Applicants Name: John Kershbaum Type of Application: Special Use Permit Project Description: Request to construct a private dock off city property located just south of the Dock Cafe for gondola boat rides. Discussion: The request is to construct a pedestrian ramp and boarding dock for gondola rides. The applicant approached the city and asked for permission to use the city owned land south of the Dock Cafe for construction of a pedestrian ramp and boarding dock. The Council responded to the request by referring the request to staff for additional detail and review through the normal review process. . The location of the improvements is where the old Andiamo access ramp was located. The improvements proposed is a 32 foot pedestrian ramp and 4 foot by 20 foot dock (see attached plans). 6. 7. 8. 9. .10. 11. The Heritage Preservation Commission reviewed and approved the project design at their meeting of February 3,2003. The gondola has a capacity of six customers and could accommodate 16 guests on a typical summer evening. No parking for employees or guests is provided. No advertising signage or ticket sales is proposed on city owned leased site. Existing benches, flower boxes and lighting shall be available to accommodate site visitors. Conditions of Approval: 1. This permit shall be reviewed in one year for conformity with the conditions of approval and contribution and compatibility with downtown river front activity. No advertising signage shall appear on city pJ.vperty. No ticket sales shall be located on city property. . No parking for business employees or customers shall be located on property site (city property). The site furnishings shall be restored and maintained in a good condition. Any changes from the proposed site plan shall be reviewed by the Community Development Director All required DNR and Corp of Engineers permits shall be obtained before installation of the dock. The gondola shall not be stored overnight at the dock. The pedestrian ramp and dock shall be maintained in a safe and attractive condition Litter shall be collected and removed from the site by the lessee on a daily basis. This permit requires city council approval due to city ownership of the site. The dock location shall be moved as far north as practical. 2. 3. 4. 5. ~~,.~ CPC Action on 2/11/03: +8-0 approval .. , ~ . 85 E. SEVENTH PLACE, SUITE 100 SAINT PAUL, MN 55101-2887 651.223.3000 FAX: 651.223.3002 E-MAIL: advisors@springsted.com // SPRINGSTED ~ Ad...".. ,h. p,,"i< S_ $1,345,000 CITY OF STILLWATER, MINNESOTA GENERAL OBLIGATION CAPITAL OUTLAY BONDS, SERIES 2003A (BOOK ENTRY ONLY) CRONIN & COMPANY, INCORPORATED SALOMON SMITH BARNEY MORGAN STANLEY - MORGAN STANLEY OW INC. UBS PAINEWEBBER INCORPORATED CIBC WORLD MARKETS CITIZENS BANK KIRLIN SECURITIES, INC. AWARD: .SALE: Bidder CRONIN & COMPANY, INCORPORATED SALOMON SMITH BARNEY MORGAN STANLEY - MORGAN STANLEY OW INC. UBS PAINEWEBBER INCORPORATED CIBC WORLD MARKETS CITIZENS BANK KIRLIN SECURITIES, INC. UMB BANK, N.A. NORTHLAND SECURITIES, INC. . March 4, 2003 Moody's Rating: A 1 Interest R~~~~ Net Interest True Interest Cost Rate Price 2.50% 2004-2008 3.00% 2009 3.25% 2010-2011 $1,358,227.45 $162,116.30 2.6707% 1.15% 2004 1.35% 2005 1.65% 2006 1.95% 2007 2.35% 2008 2.70% 2009 3.00% 2010 3.15% 2011 1.10% 2004 1.20% 2005 1.50% 2006 1.90% 2007 2.40% 2008 2.75% 2009 3.00% 2010 3.30% 2011 $1,337,225.90 $161,885.77 2.6895% $1,336,593.75 $164,100.00 2.7252% (Continued) CORPORATE OFFICE: SAINT PAUL, MN . Visit our website at www.springstedcom DES MOINES, IA . MILWAUKEE, WI . MINNEAPOUS, MN . OVERLAND PARK, KS . VIRGINIA BEACH, VA. W ASHINGfON, DC . (Continued) \ ----------------------------------------------------------------------------------------------------------------------------------------------------------------- . REOFFERING SCHEDULE OF THE PURCHASER Rate Year Yield 2.50% 2.50% 2.50% 2.50% 2.50% 3.00% 3.25% 3.25% 2004 2005 2006 2007 2008 2009 2010 2011 1.10% 1.20% 1.55% 1.90% 2.35% 2.70% 3.00% 3.25% . . 881: 4.74% Average Maturity: 4.465 Years .. . 85 E. SEVENTH PLACE, SUITE 100 SAINT PAUL, MN 55101-2887 651.223.3000 FAX: 651.223.3002 E-MAIL: advisors@springsted.com // SPRINGSTED . Ad_ M "" fub/;, s.xu" $3,450,000* CITV OF STillWATER, MINNESOTA GENERAL OBLIGATION TAX INCREMENT REFUNDING BONDS, SERIES 2003B (BOOK ENTRY ONl V) AWARD: SALE: Bidder aNITED BANKERS' BANK HARRIS TRUST & SAVINGS BANK FTN FINANCIAL CAPITAL MARKETS ISAAK BOND INVESTMENTS, INC. THE BANKERS BANK Axelrod Associates, Inc. CRONIN & COMPANY, INCORPORATED SALOMON SMITH BARNEY MORGAN STANLEY - MORGAN STANLEY DW INC. UBS PAINEWEBBER INCORPORATED CIBC WORLD MARKETS .CITIZENS BANK KIRLIN SECURITIES, INC. UNITED BANKERS' BANK March 4, 2003 Moody's Rating: A1 Interest Net Interest True Interest R~~~~ Pric~ Cost Rate 1.15% 2004 $3,436,200.00 $573,785.00 2.9734% 1.35% 2005 1.65% 2006 2.00% 2007 2.40% 2008 2.75% 2009 3.05% 2010 3.20% 2011 3.35% 2012 3.45% 2013 2.00% 2004 $3,447,725.00 $575,013.75 2.9818% 2.25% 2005-2007 2.75% 2008 3.00% 2009-2010 3.15% 2011 3.20% 2012 3.30% 2013 2.50% 2004-2008 $3,469,418.55 $579,315.62 2.9908% 3.00% 2009 3.25% 2010-2011 3.35% 2012 3.50% 2013 (Continued) CORPORATE OFFICE: SAINT PAUL, MN . Visit our website at www.spriogsted.com DES MOINES, IA . MILWAUKEE, WI . MINNEAPOUS, MN . OVERLAND PARK, KS . VIRGINIA BEACH, V A · W ASIDNGfON, DC " Interest Net Interest True Interest Bidder ~li'~~~ Pri<<;:~ Cost Rate SUNTRUST CAPITAL MARKETS, INC. 2.00% 2004-2007 $3,425,988.00 $575,182.21 2.991. STEPHENS, INC. 2.25% 2008 WILLIAM R. HOUGH & CO. 2.65% 2009 FIRST TRUST PORTFOLIOS 2.875% 2010 3.10% 2011 3.25% 2012 3.375% 2013 STONE & YOUNGBERG LLC 2.25% 2004-2007 $3,440,712.75 $580,653.50 3.0130% 2.45% 2008 2.70% 2009 3.00% 2010 3.20% 2011 3.30% 2012 3.40% 2013 U.S. BANCORP PIPER JAFFRAY INC. 2.00% 2004-2007 $3,433,233.00 $580,956.58 3.0166% 2.40% 2008 2.75% 2009 3.00% 2010 3.20% 2011 3.30% 2012 3.40% 2013 UMB BANK, N.A. 1.15% 2004 $3,421,986.00 $582,919.83 3.029i 1.35% 2005 1.65% 2006 1.95% 2007 2.35% 2008 2.70% 2009 3.00% 2010 3.15% 2011 3.35% 2012 3.45% 2013 W ACHOVIA BANK, 2.00% 2004-2006 $3,455,690.55 $590,094.03 3.0520% NATIONAL ASSOCIATION 2.50% 2007 2.75% 2008 3.00% 2009 3.25% 2010-2011 3.40% 2012 3.50% 2013 LEGG MASON WOOD WALKER, INC. 2.00% 2004-2006 $3,442,181.55 $588,755.12 3.0546% 2.50% 2007 2.75% 2008 3.00% 2009-2010 3.20% 2011 3.30% 2012 3.40% 2013 . (Continued) It , Bidder .ORTHLAND SECURITIES, INC. Interest ~~!~5 2.00% 2004-2007 2.40% 2008 2.75% 2009 3.00% 2010 3.30% 2011 3.40% 2012 3.50% 2013 3.25% 2004-2011 3.30% 2012 3.40% 2013 1.50% 2004 1.75% 2005 2.00% 2006 2.25% 2007 2.50% 2008 3.00% 2009 3.25% 2010-2011 3.40% 2012 3.50% 2013 GRIFFIN, KUBIK, STEPHENS & THOMPSON, INC. RBC DAIN RAUSCHER INC. Pri~e Net Interest Cost True Interest Rate $3,428,538.75 $595,883.33 3.0956% $3,483,005.75 $599,244.67 3.0962% $3,436,783.30 $599,192.95 3.1081% ----------..-..----------------------------------------------------------------------------------------------------------------------------...----------------------- . These Bonds are being reoffered at Par. BBI: 4.74% Average Maturity: 5.811 Years Subsequent to bid opening, the issue size decreased from $3,450,000 to $3,435,000. The February 1, 2010, February 1, 2011, and February 1, 2012 maturities each decreased by $5,000. .. . . . . OFFICIAL STATEMENT DATED FEBRUARY 18,2003 NEW ISSUES Ratings: Requested from Moody's Investors Service a the opinion of Briggs and Morgan, Professional Association, Bond Counsel, based on present federal and Minnesota laws, regulations, rulings and decisions, at the time of their Wsuance and delivery to the original purchaser. interest on the Bonds is.excluded from gross income for purposes of United States income tax and is excluded, to the same extent, in computing both gross and taxable net income for purposes of State of Minnesota income tax (other than Minnesota franchise taxes measured by income and imposed on corporations and financial institutions). Interest on the Bonds is not an item of tax preference for purposes of the alternative minimum tax imposed on individuals and corporations; however, interest on the Bonds is taken into account for the purpose of determining adjusted current eamings for purposes of computing the federal altemative minimum tax imposed on corporations. No opinion will be expressed by Bond Counsel regarding other State or federal tax consequences caused by the receipt or accrual of interest on the Bonds or arising with respect to ownership of the Bonds. (See "TAX EXEMPTION" and .OTHER FEDERAL TAX CONSIDERATIONS' herein.) . !' City of Stillwater, Minnesota $1,345,000 $3,450,000* General Obligation Capital Outlay Bonds, General Obligation Tax Increment . Series 2003A Refunding Bonds, Series 2003B (the "Series 2003A Bonds") (the "Series 2003B Bonds") (collectively referred to as the "Bonds," "Obligations" or the "Issues") (Book Entry Only) Dated Date: April 1 , 2003 Interest Due: Each February 1 and August 1 The Series 2003A Bonds will mature February 1 as follows, with interest payable commencing February 1, 2004: 2004 $155,000 2006 $160,000 2008 $165,000 2010 $180,000 2005 $160,000 2007 $165,000 2009 $175,000 2011 $185,000 The Series 2003B Bonds will mature February 1 as follows, with interest payable commencing August 1, 2003: 2004 $320,000 2007 $320,000 2010 $355,000 2012 $385,000 2005 $310,000 2008 $330,000 2011 $370,000 2013 $400,000 2006 $315,000 2009 $345,000 Proposals for the Bonds may contain maturity schedules providing for a combination of serial bonds and term bonds, provided that no serial bond may mature on or after the first mandatory sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory sinking fund redemption and must conform to the maturity schedule set A>rth above at a price of par plus accrued interest to the date of redemption. . ~he Series 2003A Bonds will not be subject to payment in advance of their respective stated maturity dates. The City may elect on February 1, 2011, and on any date thereafter, to prepay the Series 2003B Bonds due on or after February 1, 2012 at a price of par plus accrued interest. The Bonds will be general obligations of the City for which the City pledges its full faith and credit and power to levy direct general ad valorem taxes. In addition for the Series 2003B Bonds, the City will pledge tax increment revenue from the City's Tax Increment Financing District No.4 for Target and Cub Foods. A separate proposal must be submitted for each Issue, along with a good faith deposit in the form of a certified or cashier's check ora Financial Surety Bond, for not less than the amount shown below, payable to the order of the City. Rates shall be specified in integral multiples of 5/100 or 1/8 of 1% and must be designated in level or ascending order. The award for each Issue will be made on a True Interest Cost basis (TIC). ,Minimum Bid Good Faith Deoosit The Series 2003A Bonds $1,328,860 $13,450 The Series 2003B Bonds $3,420,675 $34,500 The Bonds will be bank-qualified tax-exempt obligations pursuant to Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. The Bonds will be issued as fully registered Bonds without coupons and, when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company ("DTC"). DTC will act as securities depository of the Bonds. Individual purchases may be made in book entry form only, in the principal amount of $5,000 and integral multiples thereof. Investors will not receive physical certificates representing their interest in the Bonds purchased. (See "Book Entry System" herein.) U.S. Bank National Association, 5t. Paul, Minnesota will serve as registrar (the "Registrar") for the Bonds and the City will pay for registration services. Bonds will be available for delivery at DTC on or about April 2, 2003. . Preliminary, subject to change. PROPOSALS RECEIVED: March 4, 2003 (Tuesday) at 10:00 A.M., Central Time AWARD: March 4, 2003 (Tuesday) at 7:00 P.M., Central Time ~ SPRINGSTED Further information may be obtained from SPRINGSTED Incorporated, Financial Advisor to the Issuer, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101-2887 (651) 223-3000 Advisors to the Public Sector For purposes of compliance with Rule 15c2-12 of the Securities and Exchange Commission, this document, as the same may be supplemented or corrected by the City from time to time (collectively, the "Official Statement"), may be treated as an Official Statement with respect to the Bonds described herein that is deemed final as of the date hereof (or of any such supplement or correction) by the City, except for the omission of certain information referred to in the succeeding paragraph. The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates, principal amounts and interest rates of the Bonds, together with any other information required by law, shall constitute a "Final Official Statement" of the City with respect to the Bonds, as that term is defined in Rule 15c2-12. Any such addendum shall, on and after the date thereof, be fully incorporated herein and made a part hereof by reference. 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 without cost to the senior managing underwriter of the syndicate to which the Bonds are awarded copies of the Official Statement and the addendum or addenda described in the preceding paragraph in the amount specified in the Terms of Proposal. The City designates the senior managing underwriter of the syndicate to which the Bonds are awarded as its agent for purposes of distributing copies of the Final Official Statement to each Participating Underwriter. Any underwriter delivering a Proposal with respect to the Bonds agrees thereby that if its bid is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring the receipt by each such Participating Underwriter of the Final Official Statement. No dealer, broker, salesman or other person has been authorized by the City to give any information or to make any representations with respect to the Bonds, other than as contained in the Official Statement or the Final Official Statement, and if given or made, such other information or representations must not be relied upon as having been authorized by the City. Certain information contained in the Official Statement and the Final Official Statement may have been obtained from sources other than records of the City and, while believed to be reliable, is not guaranteed as to completeness or accuracy. THE INFORMATION AND EXPRESSIONS OF OPINION IN THE OFFICIAL STATEMENT AND THE FINAL OFFICIAL STATEMENT ARE SUBJECT TO CHANGE, AND NEITHER THE DELIVERY OF THE OFFICIAL STATEMENT OR THE FINAL OFFICIAL STATEMENT NOR ANY SALE MADE UNDER EITHER SUCH DOCUMENT SHALL CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE ISSUER SINCE THE DATE THEREOF. References herein to laws, rules, regulations, resolutions, agreements, reports and other documents do not purport to be comprehensive or definitive. All references to such documents are qualified in their entirety by reference to the particular document, the full text of which may contain qualifications of and exceptions to statements made herein. Where full texts have not been included as appendices to the Official Statement or the Final Official Statement, they will be furnished on request. . . . . . . . . . . . . TABLE OF CONTENTS Paae(sl Terms of Proposal $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A ....................... i-iv $3,450,000* General Obligation Tax Increment Refunding Bonds, Series 2003B .... v-viii Introductory Statement................................. ........ ..... ..................... ....... ............................ Continuing Disclosure .... ......... ............ ......................... ................... .................. ................ The Bonds ........................................................................................................................ The Series 2003A Bonds.... ........... ........ .................................. .................. ............. .......... The Series 2003B Bonds................... ..................................................... .......... ................ Future Financing. ...................... ......................... ............................. .............. ............. ....... Litigation ......................... ........... ....................................................................................... Legality ............................................................................................................................. Tax Exemption............... ......... ............................................ ........................ .... .................. Bank Qualified Tax-Exempt Bonds................................................................................... Rating ............................................................................................................................... Financial Advisor............................................................................................................... Certification..................................................................................................................... .. City Property Values............................. ...... ..................... ............ ..................................... City Indebtedness............................................................................................................. City Tax Rates, Levies and Collections.. ....... ............................... ..................................... Funds On Hand........................ .......................... ................................ ............................... Cash and Investments........ ....... ................ ......................... .............. ................................ General Information Concerning the City.. .................... .............. ......................... ...... ....... Governmental Organization and Services......................................................................... 1 1 2 4 5 5 5 5 6 6 6 7 7 8 9 13 14 14 14 17 Proposed Form of Legal Opinions .......................................................................... Appendix I Continuing Disclosure Undertaking ............... ............ ....................... .......... ............. Appendix" Summary of Tax Levies, Payment Provisions, and Minnesota Real Property Valuation ...................................................................... Appendix III Annual Financial Statements ........... .............................. ............. ...................... ...... Appendix IV Proposal Forms . ................ ..... ...................... ............. .............. ....... ........... ....... ....... 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PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: TERMS OF PROPOSAL $1,345,000 CITY OF STILLWATER, MINNESOTA GENERAL OBLIGATION CAPITAL OUTLAY BONDS, SERIES 2003A (BOOK ENTRY ONLY) Proposals for the Bonds will be received on Tuesday, March 4, 2003, until 1 0:00 A.M., Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award of the Bonds will be by the City Council at 7:00 P.M., Central Time, of the same day. SUBMISSION OF PROPOSALS Proposals may be submitted in a sealed envelope or by fax (651) 223-3046 to Springsted. Signed Proposals, without final price or coupons, may be submitted to Springsted prior to the time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal price and coupons, by telephone (651) 223-3000 or fax (651) 223-3046 for inclusion in the submitted Proposal. Springsted will assume no liability for the inability of the bidder to reach Springsted prior to the time of sale specified above. 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 in which the manner of the Proposal is submitted. DETAILS OF THE BONDS The Bonds will be dated April 1, 2003, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing February 1 , 2004. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Bonds will mature February 1 in the years and amounts as follows: 2004 2005 $155,000 $160,000 2010 2011 $180,000 $185,000 $160,000 $165,000 2006 2007 $165,000 $175,000 2008 2009 Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds and term bonds, provided that no serial bond may mature on or after the first mandatory sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory sinking fund redemption and must conform to the maturity schedule set forth above at a price of par plus accrued interest to the date of redemption. In order to designate term bonds, the proposal must specify "Last Year of Serial Maturities" and "Years of Term Maturities" in the spaces provided on the Proposal Form. BOOK ENTRY SYSTEM The Bonds will be issued by means of a book entry system with no physical distribution of Bonds made to the public. The Bonds will be issued in fully registered form and one Bond, representing the aggregate principal amount of the Bonds maturing in each year, will be registered in the name of Cede & Co. as nominee of The Depository Trust Company ("DTC"), - i - 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 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 purchaser, as a condition of delivery of the Bonds, will be required to deposit the Bonds with DTC. REGISTRAR The City will name the registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the registrar. OPTIONAL REDEMPTION The Bonds will not be subject to payment in advance of their respective stated maturity dates. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. The proceeds will be used to finance the City's 2003 capital outlay needs of various City departments. TYPE OF PROPOSALS Proposals shall be for not less than $1,328,860 and accrued interest on the total principal amount of the Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount of $13,450, payable to the order of the City. If a check is used, it must accompany the proposal. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Minnesota, and preapproved by the City. Such bond must be submitted to Springsted Incorporated prior to the opening of the proposals. The Financial Surety Bond must identify each underwriter whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded to an underwriter using a Financial Surety Bond, then that purchaser is required to submit its Deposit to Springsted Incorporated in the form of a certified or cashier's check or wire transfer as instructed by Sprin9sted Incorporated not later than 3:30 P.M., Central Time, on the next business day following the award. If such Deposit is not received by that time, the Financial Surety Bond may be drawn by the City to satisfy the Deposit requirement. The Deposit received from the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser, will be deposited by the City. In the event the purchaser fails to comply with the accepted proposal, said amount will be retained by the City. No proposal can be withdrawn or amended 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. Rates shall be in integral multiples of 5/100 or 1/8 of 1 %. Rates must be in level or ascending order. Bonds of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No conditional proposals will be accepted. AWARD The Bonds will be awarded on the basis of the lowest interest rate to be determined on a true interest cost (TIC) basis. 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'E~ ~ lllCll E '0;1...8 Q);.!!OJ ,5:..,enO ~ui~ui ! ~.:=;. ~ e: - ~.- - E's E ~:gm l!!'g1ii'g g.5: -6.5: =.!Ui,s CIl CIl CI) CIl za::a::a:: . ... ... . . . . . 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. BOND INSURANCE AT PURCHASER'S OPTION If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the option of the underwriter, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the purchaser of the Bonds. Any increased costs of issuance of the Bonds resulting from such purchase of insurance shall be paid by the purchaser, 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 purchaser. Failure of the municipal bond insurer to issue the policy after Bonds have been awarded to the purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on the Bonds. 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 will constitute cause for failure or refusal by the purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the purchaser through DTC in New York, New York. Delivery will be subject to receipt by the purchaser of an approving legal opinion of Briggs and Morgan, Professional Association, of Saint Paul and Minneapolis, Minnesota, and of customary closing papers, including a no- litigation certificate. On the date of settlement, payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City or its designee not later than 12:00 Noon, Central Time. Unless compliance with the terms of payment for the Bonds has been made impossible by action of the City, or its agents, the purchaser shall be liable to the City for any loss suffered by the City by reason of the purchaser's non-compliance with said terms for payment. CONTINUING DISCLOSURE On the date of actual issuance and delivery of the Bonds, the City will execute and deliver a Continuing Disclosure Undertaking (the "Undertaking") whereunder the City will covenant for the benefit of the owners of the Bonds to provide certain financial and other information about the City and notices of certain occurrences to information repositories as specified in and required by SEC Rule 15c2-12(b)(5). OFFICIAL STATEMENT The City has authorized the preparation of an Official Statement containing pertinent information relative to the Bonds, and said Official Statement will serve as a.nearly final Official Statement within the meaning of Rule 15c2-12 of the Securities and Exchange Commission. 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CI> 0 C C/l C/l s: n> C/l ::l - _ o' - ~. 0 - _ ::l '0 o 0. ;:+ =r -. C/l (Q '0 0 =r _ .... '< CI> :::: C/l C/l CI> ~ n> ::l C1>-' 0 n> 0 m 0 Q. -. .... - (Q n> C/l - '0 - O_:TCI>=:CI>_C/l-~ n> S:'< ai' 0 ~.9' ,;;1 ::l CI> 0 - ::l ::l ~ CI> S' _.... _-.......... .- C/l _ 0 0'< .- .... co OJ -< o JJ o m JJ o " -I I m o ~ o o c z o r . . . . CITY OF STillWATER, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE. BUDGET AND ACTUAL GENERAL AND BUDGETED SPECIAL REVENUE FUNDS Year Ended December 31,1999 General Fund Special Revenue Funds Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ 2,744,793 $ 2,763.210 $ 18.417 $ $ $ Special assessments 4,000 7,501 3,501 LIcenses and permits 310,690 385,293 74,603 Fines and forfeits 147,500 186,981 39,481 Charges for services 655,352 814,857 159,505 735,500 810.984 75,484 Intergovernmental 2.418,372 3,134,727 716,355 65,000 65,660 660 Interest 35,000 94,316 59,316 7,500 11,444 3,944 Donations 13,200 248,851 235,651 Miscellaneous 62,250 240,086 177,836 19,500 26,308 6,808 < Total revenues $ 6,377,957 $ 7,626,971 $ 1,249,014 $ 840,700 $ 1,163,247 $ 322,547 I ...... Expenditures: VJ General government $ 1,305,635 $ 1,406,950 $ (101,315) $ $ $ Public safety 2,732,287 2,714,183 18,104 3,500 4,698 (1,198) Public woJ1<s 1,137,271 1.172,263 (34,992) 8,200 4,996 3.204 Culture and recreation 1,708,417 1,825,269 (116,852) Capital outlay 424,385 396,444 27,941 619,045 502,073 116,972 Other 90,087 920,870 (830,783) Total expenditures $ 5,689,665 $ 6,610,710 $ (921,045) $ 2,339,162 $ 2.337.036 $ 2,126 Revenue over (under) expenditures $ 688,292 $ 1,016,261 $ 327,969 $ (1,498,462) $ (1.173,789) $ 324,673 Other financing sources (uses): Sale of property $ $ $ $ $ $ Operating transfers in 424,385 387,916 (36,469) 1,731,722 1.586,277 (145,445) Operating transfers (out) (1,112,677) (1,117.447) (4,770t (61.8OOl. (287,090) (225.290) Total other financing sources (uses) $ (688.292) $ (729.531) $ (41,239) $ 1.669,922 $ 1,299.187 $ (370,735) Revenues and other sources over (under) expenditures and other uses $ $ 286,730 $ 286,730 $ 171,460 $ 125,398 $ (46,062) .... ---' Fund balance, January 1 2,576,281 237,611 Residual equity transfer 563 Fund balance, December 31 $ 2.863,574 $ 363,009 00 XWWO WClO:::~ ctiO..J..- W::l~M ::lIXlU~ Z . w.c wwo..E >U(/)B wzoa> ~:5~o o<wal 1-1Xl(!)'O ZOOe: WZ::lW ~::llXllii wll.oa> I-ZZ>- <(-<( I-CI.l...J CI.lw< OClo::: wZw Z<(z -J:w ~UCl o U III '0 e: :J ll. a> :J e: a> > a> 0::: iii u a> c. CI.l Q) a>..<!?J5 g ~ l!? CO .... 0 'e: 0 > coiO~ > ll. e: 2. G) ~~:c e: CO e CO .... 0 "C 0 > coiO~ >ll.e: 2. '0 c: :J ll. e CD c: CD Cl "'ON('f')O)<O IONMIOM O-NO>..... ~ ~~~ ... ... ~ iii :J i3 0< I' 'Oa::lMO>IO M.....MIOM '<tCON'<tN ollit-:...:cO ...ION'<tM ..... ... ~ G5 Ol '0 :J IXl I . . 00 a::l0 M..... cOlli 1010 10 '00 00 10 10 mt-: N... w 010 MCO 0>... 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G)-a> u :J u r:: C" r:: III G) 10 iiiCiiiii ,c:J,c 'C:2'C r:: f/) e: :J Q) :J ll.O:::ll. . . . . THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: TERMS OF PROPOSAL $3,450,000* CITY OF STILLWATER, MINNESOTA GENERAL OBLIGATION TAX INCREMENT REFUNDING BONDS, SERIES 2003B (BOOK ENTRY ONLY) Proposals for the Bonds will be received on Tuesday, March 4, 2003, until 1 0:00 A.M., Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award of the Bonds will be by the City Council at 7:00 P.M., Central Time, of the same day. SUBMISSION OF PROPOSALS Proposals may be submitted in a sealed envelope or by fax (651) 223-3046 to Springsted. Signed Proposals, without final price or coupons, may be submitted to Springsted prior to the time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal price and coupons, by telephone (651) 223-3000 or fax (651) 223-3046 for inclusion in the submitted Proposal. Springsted will assume no liability for the inability of the bidder to reach Springsted prior to the time of sale specified above. 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 in which the manner of the Proposal is submitted. DETAILS OF THE BONDS The Bonds will be dated April 1, 2003, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing August 1, 2003. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Bonds will mature February 1 in the years and amounts as follows: 2004 2005 2006 $320,000 $310,000 $315,000 2012 2013 $385,000 $400,000 $320,000 $330,000 $345,000 2007 2008 2009 $355,000 $370,000 2010 2011 * The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Bonds offered for sale. Any such increase or reduction will be made in multiples of $5,000 in any of the maturities. In the event the principal amount of the Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is increased or reduced. Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds and term bonds, provided that no serial bond may mature on or after the first mandatory sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory sinking fund redemption and must conform to the maturity schedule set forth above at a price of par plus accrued interest to the date of redemption. In order to designate term bonds, the proposal must specify "Last Year of Serial Maturities" and "Years of Term Maturities" in the spaces provided on the Proposal Form. -v- BOOK ENTRY SYSTEM The Bonds will be issued by means of a book entry system with no physical distribution of Bonds made to the public. The Bonds will be issued in fully registered form and one Bond, representing the aggregate principal amount of the Bonds maturing in each year, will be registered in the name of Cede & Co. as nominee of The 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 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 purchaser, as a condition of delivery of the Bonds, will be required to deposit the Bonds with DTC. REGISTRAR The City will name the registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the registrar. OPTIONAL REDEMPTION The City may elect on February 1, 2011 , and on any day thereafter, to prepay Bonds due on or after February 1, 2012. Redemption may be in whole or in part and if in part at the option of the City and in such manner as the City shall determine. If less than all Bonds of a maturity are called for redemption, the City will notify DTC of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. All prepayments shall be at a price of par plus accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition, the City will pledge tax increment revenue from the City's Tax Increment Financing District NO.4 for Target and Cub Foods. The proceeds will be used to refund the February 1, 2004 through February 1, 2013 maturities of the City's General Obligation Tax Increment Bonds, Series 1994C, dated July 1, 1994. TYPE OF PROPOSALS Proposals shall be for not less than $3,420,675 and accrued interest on the total principal amount of the Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount of $34,500, payable to the order of the City. If a check is used, it must accompany the proposal. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Minnesota, and preapproved by the City. Such bond must be submitted to Springsted Incorporated prior to the opening of the proposals. The Financial Surety Bond must identify each underwriter whose Deposit is guaranteed by such Financial Surety Bond. 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CITY OF STillWATER, MINNESOTA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES Year Ended December 31, 2000 Tolals Special Debt Capital (Memorandum OnlYl General Revenue Service Prolects 2000 1999 Revenues: Taxes $ 2,783,760 $ $ 1,511,584 $ 1,740,959 $ 6.036,303 $ 5,936,886 Special assessments 1,219,235 194,019 1,413,254 1.653,790 Licenses and permits 576,281 576,281 385,293 Fines and forfeits 130,007 130,007 186,981 Charges for services 868.091 710,430 594,560 2,173,081 1,746,363 Intergovemmental 2,552.753 65,678 30.900 2.649,331 4.584,074 Interest 116.251 40.941 464.925 475,675 1.097.792 757.772 Donations 144.564 144,564 269,371 Miscellaneous 137,616 63,071 5.239 205.926 321,642 Total revenues $ 7.164.759 $ 1.024,684 $ 3,195.744 $ 3.041,352 $ 14,426,539 $ 15.842,172 Expenditures: Current: < General government $ 1,415.303 $ $ $ $ 1,415,303 $ 1,406.950 I Public safety 2,934,888 16.967 2,951,855 2,753,729 co Public works 1,342.825 63.688 1,406,513 1,185,246 Culture and recreation 2,091.886 2.091.886 1,842,743 Other 330,009 330,009 920,870 Capital ouUay 430.423 976,397 1.406,820 905,971 Construction and acquisition costs 3,487,174 3,487.174 3,217,657 Debt service: Principal 2,535,000 2,535,000 3,100.000 Interest 1,402.333 1,402.333 1,420,071 Other 134,428 134,428 11,345 Tolal expenditures $ 6,453,448 $ 3.148.938 $ 4,071,761 $ 3,487,174 $ 17,161,321 $ 16,764,582 Revenue over (under) expenditures $ 711,311 $ (2,124.254) $ (876,017) $ (445,822) $ (2,734,782) $ (922,410) other financIng sources (uses): Bond and note proceedS $ $ 295,000 $ 2,458,536 $ 5,421,464 $ 8,175.000 $ Sale of property 27.124 27,124 Operating transfers In 509,023 1,731.636 1.713,680 3,954,339 3.496,541 Operating transfers (out) (1,219,327) (951) (2,744,906) (3.965,184) (3,719,9031 Tolal other financing sources (uses) $ (683,180) $ 2,025,685 $ 4,172,216 $ 2.676,558 $ 8,191.279 $ (223,362' Revenues and other sources over (under) expenditures and other uses $ 28,131 $ (98,569) $ 3,296,199 $ 2,230,736 $ 5,456,497 $ (1,145,772) Fund balance, January 1 2,863,574 625,058 7,944,130 4,226,388 15,659,150 16,804,922 Residual equity transfer In (out) 58.028 f6,594} (958,039) 958,039 51.434 Fund balance, December 31 $ 2,949.733 $ 519,895 $ 10,282,290 $ 7,415,163 $ 21,167,081 $ 15,659.150 --. ==.--~--- . --.-----, _..~_._..__._.-. ---.--------- --~-_._~--. ct ... o Ul W Z Z ~ Ii W ~ ~ ..I i= Ul IL o ~ U o Z <: Ul W 0:: :;) ... o (/) Z W WWll.~ ll.U>-O ~ZI-~ u5:S~~ W<::;)M :;)IOLLlii ZO..lJ:l wz<:E >:;)...1Il WILZijl O::ZWO IL-~ OUlZal ...WO::'O ZClwc WZ>W ~<:Oro W:I:ClIll ",U...I>- <: ...I ... <: (/) o W Z iD ~ o U o o ~O >N C o If) E - ::> ro-c - c o ro ... ~ o E Q) ~~ -0 o N _ U> ro- - " "a. .~ ro 0 Uo: Ol - " .c .- Q) 1: o Q) (/) - III III ::> .- c " Ol Ol > a. 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Q) :i-o. IIl-Ol u ::> U c:C'c ca Gl ca Cii'iijm .c::>.c -c:E-c c II) c: ::> Gl :;) LLO::LL . ~l ~ . . . . . . OFFICIAL STATEMENT CITY OF STILLWATER, MINNESOTA $1,345,000 GENERAL OBLIGATION CAPITAL OUTLAY BONDS, SERIES 2003A $3,450,000. GENERAL OBLIGATION TAX INCREMENT REFUNDING BONDS, SERIES 2003B (BOOK ENTRY ONLY) INTRODUCTORY STATEMENT This Official Statement contains certain information relating to the City of Stillwater, Minnesota (the "City" or the "Issuer") and its issuance of $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A (the "Series 2003A Bonds") and $3,450,000 General Obligation Tax Increment Refunding Bonds, Series 2003B (the "Series 20038 Bonds"), collectively referred to as the "Bonds", the "Issues" or the "Obligations". The Bonds are general obligations of the City for which the City pledges its full faith and credit and power to levy direct general ad valorem taxes. Inquiries may be directed to Mr. Larry Hanson, City Administrator/Treasurer, City of Stillwater, 216 North Fourth Street, Stillwater, Minnesota 55082-4898, or by telephoning (651) 430-8805. Inquiries may also be made to Springsted Incorporated, 85 East Seventh Place, Suite 100, St. Paul, Minnesota 55101-2887, or by telephoning (651) 223-3000. If information of a specific legal matter is desired, requests may be directed to Ms. Mary Ippel, Briggs and Morgan, Professional Association of Saint Paul, Minnesota, Bond Counsel, or by telephoning (651) 223-6620. CONTINUING DISCLOSURE In order to assist the Underwriters in complying with SEC Rule 15c2-12 promulgated by the Securities and Exchange Commission, pursuant to the Securities Exchange Act of 1934 (the "Rule"), pursuant to the Award Resolutions, the City has entered into an undertaking (the "Undertaking") for the benefit of holders of the Bonds to provide certain financial information and operating data relating to the City to certain information repositories annually, and to provide notices of the occurrence of certain events enumerated in the Rule to certain information repositories or the Municipal Securities Rulemaking Board and to any state information depository. The specific nature of the Undertaking, as well as the information to be contained in the annual report or the notices of material events is set forth in the Continuing Disclosure Certificates to be executed and delivered by the City at the time the Bonds are delivered in substantially the form attached hereto as Appendix II. The City has never failed to * The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Bonds offered for sale. Any such increase or reduction will be made in multiples of $5,000 in any of the maturities. In the event the principal amount of the Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is increased or reduced. - 1 - comply in all material respects with any previous undertakings under the Rule to provide annual reports or notices of material events. A failure by the City to comply with the Undertaking will not constitute an event of default on the Bonds (although holders will have any available remedy at law or in equity). Nevertheless, such a failure must be reported in accordance with the Rule and must be considered by any broker, dealer or municipal securities dealer before recommending the purchase or sale of the Bonds in the secondary market. Consequently, such a failure may adversely affect the transferability and liquidity of the Bonds and their market price. THE BONDS General Description The Bonds are dated April 1 , 2003. The Bonds will mature annually each February 1, as set forth on the cover page of the Official Statement, Interest is payable semi-annually on February 1 and August 1, commencing February 1, 2004 for the Series 2003A Bonds and commencing August 1, 2003 for the Series 2003B Bonds. The Bonds are being issued in book entry form. Interest will be payable to the holder (initially Cede & Co.) registered on the books of the Registrar on the fifteenth day of the calendar month next preceding such interest payment date. Principal of and interest on the Bonds will be paid as described in the section "Book Entry System." U.S. Bank National Association has been named Registrar for the Bonds and the City will pay for registration services. Optional Redemption The Series 2003A Bonds will not be subject to payment in advance of their respective stated maturity dates. The City may elect on February 1, 2011, and on any day thereafter, to redeem the Series 2003B Bonds due on or after February 1, 2012. Redemption may be in whole or in part and if in part at the option of the City and in such manner as the City shall determine. If less than all the Bonds of a maturity are called for redemption, the City will notify DTC of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. All prepayments shall be at a price of par plus accrued interest. Book Entry System The Depository Trust Company ("DTC"), New York, New York, will act as securities depository for the Obligations. The Obligations will be issued as fully registered securities registered in the name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully registered certificate will be issued for each maturity of each series of the Obligations, in the aggregate principal amount of such maturity, and will be deposited with DTC. DTC is a limited-purpose trust company organized under the New York Banking Law, a "banking organization" within the meaning of the New York Banking Law, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17 A of the Securities Exchange Act of 1934. DTC holds securities that its participants - 2 - . . . . , . . ~ o II) w z z Si << W I- ~ :l 1= II) u.. o ~ U o w ;:J Z 1= Z o 8- I- Z ;:J !Z w fjjz wO J:o. (I)~O> wom 00.... Z Z . :5<M ~~~ o;:JE WOCD za:U CijC>~ ~!Z 0;:J o ~ iii W 0. ~ o z ;:J \L. -' -' < E :I . 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N, 0' Q): "":i lR' o _ ~ :! o as' ~ ~i ~ ;0' "i ~ :!:I co .... g '!i o co ~ ~ ~ r-- o N a> N ..... M: NI M: N, N. 0' m .... .... ...: 41') _ ~ a> N It) ,..: II) ~: .... ,..:, CJ> , M. o ... 41'): ~: It): . ~ en 41') ~ It) .,; :8 ..; .,. "C C :::I U. e ~ .!l z!s :a c! <'ll~f! ~ .5 .E~~ ~ .!!! ~ 2 &- ~ .o-coC o......~ "0 .!!!c.!!!Q)o.., c Cti~a!.J~~E CD .'~~~~::E.!! ~ ~~.~~g~~ i ~~Ul~~~.S2 a; o ~ . . . . . . . ("Participants") deposit with DTC. DTC also facilitates the settlement among Participants of securities transactions, such as transfers and pledges, in deposited securities through electronic computerized book entry changes in Participants' accounts, thereby eliminating the need for physical movement of securities certificates. Direct Participants ("Direct Participants") include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is owned by a number of its Direct Participants and by the New York Stock Exchange, Inc.; the American Stock Exchange, Inc.; and the National Association of Securities Dealers, Inc. Access to the DTC system is also available to others such as securities brokers and dealers, banks, and trust companies that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly ("Indirect Participants"). The Rules applicable to DTC and its Participants are on file with the Securities and Exchange Commission. Purchases of Obligations under the DTC system must be made by or through Direct Participants, which will receive a credit for the Obligations on DTC's records. The ownership interest of each actual purchaser of each Obligation ("Beneficial Owner") is in turn to be recorded on the Direct and Indirect Participants' records. Beneficial Owners will not receive written confirmation from DTC of their purchase, but Beneficial Owners are expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Obligations are to be accomplished by entries made on the books of Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in the Obligations, except in the event that use of the book entry system for the Obligations is discontinued. To facilitate subsequent transfers, all Obligations deposited by Participants with DTC are registered in the name of DTC's partnership nominee, Cede & Co. or such other name as requested by an authorized representative of DTC. The deposit of Obligations with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Obligations; DTC's records reflect only the identity of the Direct Participants to whose accounts such Obligations are credited, which mayor may not be the Beneficial Owners. The Participants will remain responsible for keeping account of their holdings on behalf of their customers. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Redemption notices shall be sent to DTC. If less than all of the Obligations within a maturity are being redeemed, DTC's practice is to determine by lot the amount of the interest of each Direct Participant in such maturity to be redeemed. Neither DTC nor Cede & Co. (nor such other DTC nominee) will consent or vote with respect to the Obligations. Under its usual procedures, DTC mails an Omnibus Proxy to the Registrar as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or voting rights to those Direct Participants to whose accounts the Obligations are credited on the record date (identified in a listing attached to the Omnibus Proxy). Principal and interest payments on the Obligations will be made to Cede & Co. or such other nominee as may be requested by an authorized representative of DTC. DTC'spractice is to credit Direct Participants' accounts on the payable date in accordance with their respective holdings shown on DTC's records, unless DTC has reason to believe that it will not receive payment on the payable date. Payments by Participants to Beneficial Owners will be governed - 3 - o S' -I (') -. -. -I CJ) -I (')--1 )> -. _ :T 0 0 ~. :T -(1) -""- CD :T I>>:T:T C :T",,~en_:T(1) (') (1) '0(1)(1) .... (1)(1)(1)U~l>>en c (') ;::+:() :r ... I>> -. en 0 0' ~ ~ (1) ::J (1) ::;: 0 O-<'~ ... = 0. CD 0. en 0. ::!. '< 3 ::;: o c "" _.(1) (') m l>> '0 C () (5' '< :iE (1) - ::J::! . "" :::J 0 =:TCJl l>> - . (1) (1) (1) I\:) CJl ~I>>I\:) ::JO I\:)CJlo. C. ;::+: :::J <0 ::J I>> 0 -. 0 ::J~o C. (') 1\:)-0 "TI -I )>()Z o' ~ )>:T801>> W S' ::J (1)",,0 "tJ 0 =0(1) (1)' W I>> C '< 0 ::J )> l>> - OCJl- 0 C :-" <g (1) ~. W 0. OJ :::J ~ :iEOO-o -. 0.-0)> ... CJl I>> =)>'0 0 (') - CJl""OJ '0 en 1>>0"" :T 0 -'-O'OJo::J S. ::J 0 000 (1) o ...,"--. 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I":, "t ~ 8 (') CO) ~ ui 0 1"" tit ~ co 06 CD ..... ,,; tit 0 &0 ~ :8' N ~ ~ ~ &ti 0> ~ 0 eo ~ CO> &0 ~ ,.: 0> . ..... ~ ..; C') tit .... M ,,; l8 to-: N tit: 0 .... co ..; ~ as ~: .., N N as N CD cO "" , , .... , N' q a; (\/. ..; ~ w &0 .... &0 0, N co W. M ~ i Q> . ('0) w ~ C ::l LL '! ~ !!.E a ~ale .s .s~~ Gl Gle&- ~12~ ~-i ~$~!2'C 19~LL~oiE ~~5~::E.!! a>c-eC:C\!!b ~~cZis~~ =< << o J!l ~ Gl ~ ... a> s:. "0 ~ c III '" 'lii '" ... III ! ~ . . . . ~ . . THE SERIES 20038 BONDS Authority and Purpose The Series 2003B Bonds are being issued pursuant to Minnesota Statutes, Chapters 469 and 475. Proceeds of the Series 2003B Bonds will be used to refund in advance of maturity the February 1, 2004 through February 1, 2013 maturities (the "Refunded Maturities") of the City's General Obligation Tax Increment Bonds, Series 1994C, dated July 1, 1994 (the "Series 1994C Bonds"). The refunding is being conducted to achieve interest cost savings. The Series 2003B Bonds constitute a "current" refunding since the Refunded Maturities will be called within 90 days of settlement of the Bonds. The Refunded Maturities will be called and prepaid on May 1, 2003 at a price of par plus accrued interest. The City will make the February 1, 2003 principal and interest payment on the Series 1994C Bonds as originally scheduled. Security and Financing The Series 20038 Bonds are general obligations of the City for which the City pledges its full faith and credit and power to levy direct general ad valorem taxes. In addition, the City will pledge tax increment revenues from the Tax Increment Financing District No. 4 that were originally pledged to the Series 1994C Bonds. FUTURE FINANCING The City has no other borrowing anticipated for the next 90 days. LITIGATION The City is not aware of any threatened or pending litigation affecting the validity of the Bonds or the City's ability to meet its financial obligations. LEGALITY The Bonds are subject to approval as to certain matters by Briggs and Morgan, Professional Association, of St. Paul and Minneapolis, Minnesota, as Bond Counsel. Bond Counsel has not participated in the preparation of this Official Statement and will not pass upon its accuracy, completeness, or sufficiency. Bond Counsel has not examined nor attempted to examine or verify, any of the financial or statistical statements, or data contained in this Official Statement and will express no opinion with respect thereto. Legal opinions in substantially the form set out in Appendix I herein will be delivered at closing. - 5- TAX EXEMPTION At closing Briggs and Morgan, Professional Association, Bond Counsel, will render an opinion that, at the time of their issuance and delivery to the original purchaser, under present federal and State of Minnesota laws, regulations, rulings and decisions (which excludes any pending legislation that may have a retroactive effect), the interest on the Bonds is excluded from gross income for purposes of United States income tax and is excluded, to the same extent, from both gross income and taxable net income for purposes of State of Minnesota income tax (other than Minnesota franchise taxes measured by income and imposed on corporations and financial institutions), and that interest on the Bonds is not an item of tax preference for purposes of computing the federal alternative minimum tax imposed on individuals and corporations or the Minnesota alternative minimum tax applicable to individuals, estates and trusts; provided that interest on the Bonds is subject to federal income taxation to the extent it is included as part of adjusted current earnings for purposes of the alternative minimum tax imposed on corporations. No opinion will be expressed by Bond Counsel regarding other federal or state tax consequences caused by the receipt or accrual of interest on the Bonds or arising with respect to ownership of the Bonds. PreseNation of the exclusion of interest on the Bonds from federal gross income and state gross and taxable net income, however, depends upon compliance by the City with all requirements of the Internal Revenue Code of 1986, as amended, (the "Code") that must be satisfied subsequent to the issuance of the Bonds in order that interest thereon be (or continue to be) excluded from federal gross income and state taxable net income. The City will covenant to comply with requirements necessary under the Code to establish and maintain the Bonds as tax-exempt under Section 103 thereof, including without limitation, requirements relating to temporary periods for investments and limitations on amounts invested at a yield greater than the yield on the Bonds. BANK-QUALIFIED TAX-EXEMPT BONDS The City will designate the Bonds as "qualified tax-exempt obligations" for purposes of Section 265(b )(3) of the Code relating to the ability. of financial institutions to deduct from income for federal income tax purposes, interest expense that is allocable to carrying and acquiring tax- exempt obligations. RATINGS Application for ratings of the Bonds has been made to Moody's Investors SeNice ("Moody's"), 99 Church Street, New York, New York. If ratings are assigned, they will reflect only the opinion of Moody's. Any explanation of the significance of the ratings may be obtained only from Moody's. There is no assurance that ratings, if assigned, will continue for any given period of time, or that such ratings will not be revised or withdrawn, if in the judgment of Moody's, circumstances so warrant. 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"!, :, ~I ~I !I tnl .1 . co M ~ rxi ~. ~I 0 0 CD ~: CO ri tn 'C C ~ LL i\i :0 ~ C_ ~aJ~ c'COl ._"> c Q) Q)O~_ D .,,:is 0._ ~ ~S~~~-o "~LL~ CE ~~~~~E! ~C:.-CC:Q)I '1:J::J ~::J::J~ ~ lii~~~~l1.9 =< << o .!! :0 Q) 'C lii .r:. o 'C C m (/) a; II) (/) m i\i o I- E Q) o .5 . . . . , . . FINANCIAL ADVISOR The City has retained Springsted Incorporated, Advisors to the Public Sector, of St. Paul, Minnesota, as financial advisor (the "Financial Advisor") in connection with the issuance of the Bonds. In preparing the Official Statement, the Financial Advisor has relied on governmental officials who have access to relevant data to provide accurate information for the Official Statement, and the Financial Advisor has not been engaged, nor has it undertaken, to independently verify the accuracy of such information. The Financial Advisor is not a public accounting firm and has not been engaged by the City to compile, review, examine or audit any information in the Official Statement in accordance with accounting standards. The Financial Advisor is an independent advisory firm and is not engaged in the business of underwriting, trading or distributing municipal securities or other public securities and therefore will not participate in the underwriting of the Bonds. CERTIFICATION The City has authorized the distribution of this Official Statement for use in connection with the initial sale of the Bonds. As of the date of the settlement of the Bonds, the Purchaser(s) will be furnished with a certificate signed by the appropriate officers of the City. The certificate will state that as of the date of the Official Statement, the Official Statement did not and does not as of the date of the certificate contain any untrue statement of material fact or omit to state a material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading. (The Balance of This Page Has Been Intentionally Left Blank) -7- The Omnibus Tax Bill adopted by the Minnesota Legislature during the First Special Session in 2001 made numerous changes to the Minnesota property tax system. Please . see Appendix III of this Official Statement for a further discussion of those changes. . CITY PROPERTY VALUES 2001 Indicated Market Value of Taxable Property: $1,314,399,239" Calculated by dividing the county assessor's estimated market value of $1,035,746,600 by the 2001 sales ratio of 78.8% for the City as determined by the State Department of Revenue. ~, 2001 Taxable Net Tax Capacity: $10,984,480 2001 Net Tax Capacity Less: Contribution to Fiscal Disparities Captured Tax Increment Tax Capacity Plus: Distribution from Fiscal Disparities $12,187,035 (1,016,792) (1,276,611 ) 1.090.848 $10,984,480 2001 Taxable Net Tax Capacity 2001 Taxable Net Tax Capacity By Class of Property Residential Homestead $ 7,789,154 70.9% . . Commercial/Industrial, Public Utility and Personal Property * 2,181,853 19.9 Residential Non-Homestead 996,204 9.1 Other Classes 17.269 0.1 Total $10,984,480 100.0% Reflects adjustments for fiscal disparities and captured tax increment tax capacity. Trend of Values Indicated Market ValuE~.ra) Assessor's Estimated Market Value. Taxable Net Tax Caoacity(b) .' 2001 2000 1999 1998 1997 $1,314,399,239 1 ,072,412,590 997,400,245 864,204,646 820,525,146 .' $1,035,746,600 894,392,100 813,878,600 744,080,200 704,831,100 $10,984,480 13,232,867 11,959,344 10,895,127 11,279,466 (a) Calculated by dividing the county assessor's estimated market value by the sales ratio determined for the City each year by the State Department of Revenue. (b) The decreases in taxable tax capacity for 1998 and 2001 were due primarily to reductions in property tax class rates. See Appendix III for an explanation of tax capacity and other Minnesota property tax law. . . - 8- APPENDIX IV ANNUAL FINANCIAL STATEMENTS The City is audited annually by an independent certified public accounting firm, and received an unqualified opinion. The information on the following pages has been extracted from the City's Comprehensive Annual Financial Reports. The reader should be aware that the complete financial reports may contain additional information relating to the data presented here which may interpret, explain or modify it. For the years ending December 31 , 2001, 2000, and 1999, governmental funds are presented on the modified accrual basis of accounting and the accrual basis is used for proprietary funds. The financial statements of the Board of Water Commission, which governs the Water Utility, are as a component unit. The Board of Water Commission meets the criteria to be included as a discrete presentation. The members of the governing board of the Board of Water Commission are appointed by the Mayor and approved by the City Council. The Government Finance Officers Association of the United States and Canada (GFOA) has awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Stillwater, Minnesota for its Comprehensive Annual Financial Report for the fiscal year ended December 31, 2000. The 2001 CAFR has been submitted for consideration. The Certificate of Achievement is the highest form of recognition for excellence in State and local government financial reporting. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The City received a Certificate of Achievement each year since 1989. IV-1 2001 PROPERTY TAX AMENDMENTS Ten of the Largest Taxpayers in the City . . 2001 Net The Omnibus Tax Bill adopted by the Minnesota Legislature during the First Special Session in Jaxoaver Tvoe of Prooertv Tax Caoacitv 2001 (the ''Tax Bill") made numerous changes to the property tax system. Among its provisions, the Tax Bill provided for the assumption by the State of Minnesota of the general Super Valu Holdings Commercial $ 191,134 education property tax levy and certain transit costs; increased the appropriation for Local Xcel Energy Utility 177,878 Government Aids by $140,000,000; re-imposed levy limits for two years on counties and cities Diasorin Inc. Commercial 147,878 over 2,500 in population; repealed the Homestead and Agricultural Credit Aid for cities, school Minnesota Mining & Mfg. (3M) Manufacturing 120,214 districts and townships; provided for the gradual elimination of Limited Market Valuation; and Target Corporation Retail 108,548 compressed the class rates applicable to various classes of property. Andersen Corporation Commercial 87,966 Local Tax Lakeview Memorial Hospital Hospital 80,694 2001 Class Rate Changes Local Tax Local Tax Urban Associates/Stillwater Commercial 79,598 Payable Payable Payable . Prooertv Tvoe 2001 2002 2003 Mainstream Dev Partnership Commercial 70,866 Division Place II Associates Commercial 68.980 Residential Homestead Up to $76,000 1.000% 1 .000% 1.000% Total $1,133,756* $76,000 - $500,000 1.650% 1.000% 1.000% Over $500,000 1.650% 1.250% 1.250% Residential Non-homestead Represents 10.3% of the City's 2001 taxable net tax capacity. Single Unit 1.000% Up to $76,000 1.200% 1.000% $76,000 - $500,000 1.650% 1.000% 1.000% CITY INDEBTEDNESS Over $500,000 1.650% 1.250% 1.250% 2-3 unit and undeveloped land 1.650% 1.500% 1.250% 1 Market Rate Apartments 1.800%2 1.500%2 Legal Debt Limit and Net Debt Margin Regular 2.400% Small City 2.150% 1.800"1/ 1.500%2 Low-Income 1.000% 0.900%3 1.000%3 . . Legal Debt Limit (2% of Estimated Market Value) $ 20,714,932 Commercial/Industrial/Public Utility Less: Net Debt Subject to Limitation (15.150.752) Up to $150,000 2.400% 1.500% 1.500% Over $150,000 3.400% 2.000% 2.000% Legal Net Debt Margin As of January 2, 2003 $ 5,564,180 Electric Generation Machinery 3.400% 2.000% 2.000% Seasonal Recreational Commercial Homestead Resorts (lc) General Obligation Debt Supported Solely By Taxes* up to $500,000 1.000% 1.000% 1.000% Over $500,000 1.000% 1.250% 1.250% Principal Seasonal Resorts (4c) Date Original Final Outstanding up to $500,000 1.650% 1.000% 1.000% pf Issue Amount Puroose Maturit'~ As of 1-2-03 Over $500,000 1.650% 1.250% 1.250% Seasonal Recreational Residential 9-1-93 $1,840,000 Capital Outlay 2-1-2009 $ 560,000 up to $76,000 1.200% 1.000%4 1 .000%4 7 -1-94 170,000 Capital Outlay 2-1-2005 60,000 $76,000 - $500,000 1.650% 1.000%4 1 .000%4 5-1-96 5,530,000 Capital Outlay 2-1-2021 3,910,000 Over $500,000 1.650% 1.250%4 1.250% 4 7 -1-97 705,000 Capital Outlay 2-1-2007 215,000 Disabled Homestead 0.450% 0.450% 0.450% 12-1-98 2,500,000 Capital Outlay 2-1-2019 1,860,000 Agricultural Land & Buildings 4-1-00 990,000 Capital Outlay 2-1-2010 715,000 Homestead 7-1-00 295,000 Capital Outlay 7-1-2003 98,332 0.550%4 0.550%4 . 2-1-02 7,840,000 Capital Outlay 2-1-2022 7,840,000 up to $115,000 0.350% $115,000 - $600,000 0.800% 0.550%4 0.550%4 2-4-03 200,000 Capital Outlay 2-1-2009 200,000 Over $600,000 1 .200% 1 .000%4 1.000%4 4-1-03 1,345,000 Capital Outlay Non-homestead 1.200% 1 .000%4 1.000%4 (the Series 2003A Bonds) 2-1-2011 1.345.000 1 Rate reduced to 1.25% in pay 2003 and thereafter. Total $16,803,332 2 Rate reduced to 1.5% in pay 2003 and 1.25% in pay 2004 and thereafter. 3 Rate increased to 1% in pay 2003, classification abolished thereafter. . . 4 Exempt from referendum market value tax. These issues are subject to the statutory debt limit. 111-6 - 9 - General Obligation Debt Supported By Taxes and/or Special Assessments STATUTORY FORMULAE . . CONVERSION OF ESTIMATED MARKET VALUE (EMV) TO NET TAX CAPACITY FOR Principal MAJOR PROPERTY CLASSIFICATIONS Date Original Final Outstanding of Issue Amount Puroose Maturit'l f\s of 1-2-03 Net Tax Net Tax Capacity Net Tax Capacity Levy Year 5-1-96 $1,410,000 Local Improvements 2-1-2007 $ 565,000 General Classifications Levv Year 1999 Levv Year 2000 ;:!001. 2002. 2003 7 -1-97 485,000 Local Improvements 2-1-2008 290,000 Residential Homestead First $76,000 of EMV at First $76,000 of EMV at See next page. 12-1-98 665,000 Local Improvements 2-1-2009 455,000 1.00% 1.00% 4-1-00 1,390,000 Local Improvements 2-1-2010 1.075.00Q EMV in excess of $76,000 EMV in excess of $76,000 at 1.65% at 1.65% Total $2,385,000 Residential Non-Homestead 2.40%; except certain 2.40%; except certain See next page. .' 4 or more units cities of 5,000 cities of 5,000 General Obligation Debt Supported By Tax Increment population or less at population or less at 2.15% 2.15% Principal Agricultural Homestead First $76,000 EMV of First $76,000 EMV of See next page. Date Original Final Outstanding house, garage and 1 house, garage and 1 of Issue Amount Puroose Maturity As of 1-2-03 acre at 1.00% acre at 1.00% EMV in excess of $76,000 EMV in excess of $76,000 9-1-93 $1,000,000 Tax Increment 2-1-2007 $ 485,000 of house, garage and 1 of house, garage and 1 7 -1-94 4,800,000 Tax Increment 2-1-2003 240,000 * acre at 1.65% acre at 1.65% 5-1-96 810,000 Tax Increment Refunding 2-1-2005 315,000 Remaining Property: Remaining Property: 11-15-00 2,265,000 Tax Increment Refunding 2-1-2007 1,945,000 First $115,000 of EMV at First $115,000 of EMV at 4-1-03 3,450,000 Tax Increment Refunding 0.35% 0.35% (the Series 2003B Bonds) 2-1-2013 3.450.00Q EMV in excess of EMV in excess of . $115,000 and less than $115,000 and less than Total $6,435,000 . $600,000 at 0.80% $600,000 at 0.80% EMV in excess of EMV in excess of * Excludes the Refunded Maturities. $600,000 at 1.20% $600,000 at 1.20% Agricultural Non-Homestead First $76,000 of EMV of First $76,000 of EMV of See next page. house, garage and 1 house, garage and 1 General Obligation Debt Supported by Revenues acre at 1.20% acre at 1.20% EMV in excess of $76,000 EMV in excess of $76,000 Principal of house, garage and 1 of house, garage and 1 Date Original Final Outstanding acre at 1.65% acre at 1.65% of Issue Amount Puroose Maturit,! As of 1-2-03 EMV of land and other EMV of land and other buildings at 1.20% buildings at 1.20% 1-1-98 $4,610,000 Sports Arena 6-1-2018 $3,605,000 Com mercial-I ndustrial First $150,000 of EMV at First $150,000 of EMV at See next page. 4-1-00 1,330,000 Water Revenue 2-1-2015 1,150,000 2.40% 2.40% 4-1-00 2,135,000 Sports Facilities 6-1-2020 2.065.000, EMV in excess of EMV in excess of $150,000 at 3.40% $150,000 at 3.40% Total $6,820,000 Seasonal/Recreational Non-Commercial Non-Commercial See next page. Residential First $76,000 of EMV at First $76,000 of EMV at 1.20% 1.20% Summary of General Obligation Direct Debt EMV in excess of EMV in excess of . . $76,000 at 1.65% $76,000 at 1.65% Gross Less: Debt Net Commercial - 1.60% Commercial - 1.60% Debt - Service Funds* Direct Debt Homestead Resorts - Homestead Resorts - Supported by Taxes $16,803,332 $(1,652,580) $15,150,752 1.00% 1.00% Supported Primarily by Taxes and/or Vacant Land N/A N/A See next page. Special Assessments 2,385,000 (2,610,234) -0- (All vacant land is (All vacant land is Supported by Tax Increment 6,435,000 (365,990) 6,069,010 . . reclassified to highest and reclassified to highest and Supported by Revenues 6,820,000 (477,397) 6,342,603 best use pursuant to local best use pursuant to local Debt service funds are as of December 31, 2002 and include money to pay both principal and zoning ordinance) zoning ordinance) interest. -10- 111-5 Metropolitan Revenue Distribution (Chapter 473F, Minnesota Statutes) "Fiscal Disparities Law" The Charles R. Weaver Metropolitan Revenue Distribution Act, more commonly known as "Fiscal Disparities," was first implemented for taxes payable in 1975. Forty percent of the increase in commercial-industrial (including public utility and railroad) net tax capacity valuation since 1971 in each assessment district in the Minneapolis/St. Paul seven-county metropolitan area (Anoka, Carver, Dakota, excluding the City of Northfield, Hennepin, Ramsey, Scott, excluding the City of New Prague, and Washington Counties) is contributed to an area-wide tax base. A distribution index, based on the factors of population and real property market value per capita, is employed in determining what proportion of the net tax capacity value in the area-wide tax base shall be distributed back to each assessment district. Iron Range Fiscal Disparities In 1996 Minnesota Legislature established a commercial-industrial tax base sharing program for the Iron Range that is modeled after the Twin Cities metropolitan area program commonly known as ''fiscal disparities." Under the Iron Range Fiscal Disparities ("IRFD") program, 40% of the growth in each municipality's commercial-industrial tax base after 1995 is contributed to an area wide pool. The tax base pool is distributed back to municipalities on the basis of property wealth per capita; i.e., municipalities with lower property wealth receive greater distributions. For the purposes of the IRFD program, commercial-industrial property includes public utility property, but does not include commercial, seasonal, recreational property. All local taxing jurisdictions in the area, including counties, cities, towns (including unorganized towns), school districts, and special taxing districts, participate in the IRFD program. The IRFD program is identical to the Twin Cities metropolitan area program except for the provisions summarized below: 1. The geographical area involved is the taconite tax relief area. This includes all of Cook County and Lake County, most of Itasca County and St. Louis County (the City of Duluth and surrounding area is not included), portions of Aitkin County and Crow Wing County, and a very small portion of Koochiching County. 2. The base year is 1995, so that 40% of the growth in commercial-industrial tax base after 1995 will be shared. The first tax year to be affected was 1997/98. 3. Municipalities are not required to share. commercial-industrial growth in tax increment financing (TIF) districts created before May 1, 1996. 4. Municipalities that consciously exclude commercial-industrial development are excluded from participation. This will be determined by a joint effort of the Department of Revenue (MnDOR) and the Iron Range Resources and Rehabilitation Board (IRRRB). In September 2000, a lower court declared the Iron Range Fiscal Disparities Act unconstitutional. In April 2001, this ruling was overturned by the Minnesota Court of Appeals. In July of 2001, the Minnesota Supreme Court agreed to review the Act. What the outcome may be or what effect, if any, these court proceedings may have, cannot be determined at this time. 111-4 . . Annual Calendar Year Debt Service Payments Including These Issues and Excluding the Refunded Maturities G.O.DebtSupported Solelv bv Taxes Principal Year. Princioal. & Interest(a) 2003 (at 1-2) $ 913,332 $ 1,589,223.73 2004 1,250,000 1 ,934,374.27 2005 1,225,000 1,850,977.60 . 2006 1,210,000 1,790,278.85 2007 1,240,000 1,772,310.10 2008 1,145,000 1 ,628,941.35 2009 1,175,000 1,610,600.10 2010 1 ,095,000 1,481,652.60 2011 1,020,000 1,360,819.47 2012 870,000 1,168,940.71 2013 585,000 850,269.45 2014 600,000 837,003.19 2015 580,000 788,541.93 2016 595,000 774,885.67 2017 610,000 760,326.91 2018 625,000 744,865.65 2019 650,000 738,246.27 . . 2020 555,000 612,893.14 2021 565,000 594,170.63 2022 295.000 302.301.25 Total $16,803,332(b) $23,191,622.87 G.O. Debt Supported by Taxes and/or Soecial Assessments Principal Princioal & Interest $ 390,000 385,000 380,000 365,000 310,000 240,000 190,000 125,000 $2,385,000 $ 493,306.25 470,770.00 448,156.25 415,703.75 344,662.50 261,488.75 201,147.50 128,281.25 $2,763,516.25 (a) Includes the Series 2003A Bonds at an assumed average annual interest rate of 3.15%. (b) 66.3% of this debt will be retired within ten years. . . . - 11 - Annual Calendar Year Debt Service Payments Including These Issues and Excluding the Refunded Maturities (Continued) Year G.O. Debt Suooorted bv Tax Increment Principal Princioal & Interest(a) G.O. Debt Suooorted bv Revenues Principal Princioal & Interest 2003 (at 1-2) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 $ 785,000 890,000 905,000 820,000 850,000 330,000 345,000 355,000 370,000 385,000 400,000 $1,128,262.09 1,080,981.25 1,064,137.50 947,540.00 945,778.75 404,190.00 408,547.50 406,465.00 408,045.00 408,507.50 408,000.00 $ 385,000 405,000 420,000 435,000 415,000 405,000 425,000 440,000 455,000 375,000 385,000 400,000 415,000 355,000 375,000 390,000 165,000 175.000 $6,820,000(c) Total $6,435,000(b) $7,610,454.59 $ 713,396.25 715,645.00 711 ,897.50 707,250.00 667,471.25 638,157.50 638,382.50 632,490.00 625,588.75 524,941 .25 515,595.00 510,377.50 504,145.00 424,007.50 424,920.00 419,803.75 179,806.25 180.031.25. $9,733,906.25 (a) Includes the Series 20038 Bonds at an assumed average annual interest rate of 3.45% and excludes the Refunded Maturities. (b) 93.8% of this debt will be retired within ten years. (c) 61.0% of this debt will be retired within ten years. Indirect Debt Taxino Unit(a) Washington County ISD 834 (Stillwater) Northeast Metro College Metropolitan Council Metro Transit District 2001 Taxable Net Tax Caoacitv Debt Applicable to Tax Caoacitv in Citv _ Percent Amount G.O. Debt As of 1-2-03(b) $ 55,440,000(c) 63,890,000 2,020,000 29,965,000(d) 175,505,000 $ 158,940,515 45,338,378 378,393,964 1,964,914,748 1,723,299,577 6.9% 24.2 2.9 0.6 0.6 Total $ 3,480,360 15,461,380 58,580 179,790 1.053.03Q $20,233,140 (a) Only those units with debt outstanding are listed here. (b) Excludes tax anticipation certificates and revenue debt. (c) Includes debt issued by the Washington County Housing and Redevelopment Authority for a jail facility leased to Washington County. The rental payments of Washington County are absolute and unconditional obligations of the County payable from a direct ad valorem tax which has been levied for the term of the Bonds on all taxable property within the County. (d) Excludes general obligation debt supported by sewer system revenues, 911 user fees, and housing rental payments. - 12 - . . . 4\ . . .' . . Certain property tax levies are authorized outside of the new overall levy limitation ("special levies"). Special levies which do not include levies for bonded indebtedness on installment payments on conditional sales contracts, state-aid road bonds, contracts for deed, tax Increment revenue bonds, and lease payments under certificates of participation. In order to receive approval for any special levy claims outside of the overall levy limitation, requests for such special levies must be submitted to the Property Tax Division of the Department of Revenue on or before September 15th in the year in which the levy is to be made for collection in the following year. The Department of Revenue has the authority to approve, reduce or deny a special levy request. Final adjustments to all levies must be made by the Department of Revenue on or before December 10th. Debt Limitations All Minnesota municipalities (counties, cities, towns and school districts) are subject to statutory "net debt" limitations under the provisions of Minnesota Statutes, Section 475.53. Net debt is defined as the amount remaining after deducting from gross debt the amount of current revenues that are applicable within the current fiscal year to the payment of any debt and the aggregate of the principal of the following: 1. Obligations issued for improvements that are payable wholly or partially from the proceeds of special assessments levied upon benefited property. 2. Warrants or orders having no definite or fixed maturity. 3. Obligations payable wholly from the income from revenue producing conveniences. 4. Obligations issued to create or maintain a permanent improvement revolving fund. 5. Obligations issued for the acquisition and betterment of public waterworks systems, and public lighting, heating or power systems, and any combination thereof, or for any other public convenience from which revenue is or may be derived. 6. Certain debt seNice loans and capital loans made to school districts. 7. Certain obligations to repay loans. 8. Obligations specifically excluded under the provisions of law authorizing their issuance. 9. Certain obligations to pay pension fund liabilities. 10. Debt seNice funds for the payment of principal and interest on obligations other than those described above. Levies for General Obligation Debt (Sections 475.61 and 475.74, Minnesota Statutes) Any municipality that issues general obligation debt must, at the time of issuance, certify levies to the county auditor of the county(ies) within which the municipality is situated. Such levies shall be in an amount that if collected in full will, together with estimates of other revenues pledged for payment of the obligations, produce at least five percent in excess of the amount needed to pay principal and interest when due. Notwithstanding any other limitations upon the ability of a taxing unit to levy taxes, its ability to levy taxes for a deficiency in prior levies for payment of general obligation indebtedness is without limitation as to rate or amount. 111-3 The county treasurer is responsible for collecting all property taxes within the county. Real estate and personal property tax statements are mailed out by March 31. One-half (1/2) of the taxes on real property is due on or before May 15. The remainder is due on or before October 15. Real property taxes not paid by their due date are assessed a penalty that, depending on the type of property, increases from 2% to 4% on the day after the due date. In the case of the first installment of real property taxes due May 15, the penalty increases to 4% or 8% on June 1. Thereafter, an additional 1 % penalty shall accrue each month through October 1 of the collection year for unpaid real property taxes. In the case of the second installment of real property taxes due October 15, the penalty increases to 6% or 8% on November 1 and increases again to 8% or 12% on December 1 . Personal property taxes remaining unpaid on May 16 are deemed to be delinquent and a penalty of 8% attaches to the unpaid tax. However, personal property that is owned by a tax-exempt entity, but is treated as taxable by virtue of a lease agreement, is subject to the same delinquent property tax penalties as real property. On the first business day of January of the year following collection all delinquencies are subject to an additional 2% penalty, and those delinquencies outstanding as of February 15 are filed for a tax lien judgment with the district court. By March 20 the clerk of court files a publication of legal action and a mailing of notice of action to delinquent parties. Those property interests not responding to this notice have judgment entered for the amount of the delinquency and associated penalties. The amount of the judgment is subject to a variable interest determined annually by the Department of Revenue, and equal to the adjusted prime rate charged by banks, but in no event is the rate less than 10% or more than 14%. Property owners subject to a tax lien judgment generally have five years (5) in the case of all property located outside of cities or in the case of residential homestead, agricultural homestead and seasonal residential recreational property located within cities or three (3) years with respect to other types of property to redeem the property. After expiration of the redemption period, unredeemed properties are declared tax forfeit with title held in trust by the State of Minnesota for the respective taxing districts. The county auditor, or equivalent thereof, then sells those properties not claimed for a public purpose at auction. The net proceeds of the sale are first dedicated to the satisfaction of outstanding special assessments on the parcel, with any remaining balance in most cases being divided on the following basis: county - 40%; town or city - 20%; and school district - 40%. Property Tax Credits (Chapter 273, Minnesota Statutes) In addition to adjusting the taxable value for various property types, primary elements of Minnesota's property tax relief system are: property tax levy reduction aids; the circuit breaker credit, which relates property taxes to income and provides relief on a sliding income scale; and targeted tax relief, which is aimed primarily at easing the effect of significanttax increases. The circuit breaker credit and targeted credits are reimbursed to the taxpayer upon application by the taxpayer. Property tax levy reduction aid includes educational aids, local governmental aid, equalization aid, homestead and agricultural credit aid (HACA) and disparity reduction aid. HACA has been repealed for cities, school districts, and townships. Levy Limitations for Counties and Cities (M.S. 275.70 to 275.74) Levy limitations are in effect for taxes levied in 2002 and 2003 for all counties and cities with populations exceeding 2,500. Levy increases for cities are limited to its adjusted levy limit base from 1999 plus any increase due to growth in population. Counties are limited in their levy increases to the difference between their adjusted levy limit from 1999 plus any increase due to growth in population and one-half of the county's share of the net cost to the state for assumption of district court costs. 111-2 . . . , . . . . Debt Ratios G.O. Net Direct Debt" G.O. Indirect & Net Direct Debt To 2001 Indicated Market Value ($1,314,399,239) Per Capita (15,589 - 2001 Metropolitan Council Estimate) 1.39% $1,169 2.93% $2,467 * Excludes general obligation debt supported by revenues. CITY TAX RATES, LEVIES AND COLLECTIONS Tax Capacity Rates 2001/02 For 1997/9& 1998/99 1999/00 2000/01 Jotal .Debt Onlv Washington County 26.169% 27.601% 25.944% 23.997% 31.757% 4.542% City of Stillwater (Urban) 37.148 38.555 35.750 35.697 53.417 17.045 ISO 834 (Stillwater)(a) 58.155 54.022 50.434 50.373 28.407 15.153 Northeast Metro College 0.194 0.333 0.261 0.314 0.070 0.070 Special Districts(b) 6.228. 11.39'( 11 .58'( 14.00& 8.980 1.864 Total 127.894% 131.908% 123.976% 124.389% 122.631 % 39.674% (a) Independent School District 834 (Stillwater) also has a 2001/02 tax rate of 0.04741% spread on the market value of property in support of an excess operating levy. (b) Special Districts include Metropolitan Council, Regional Transit District, Washington County HRA, and Metropolitan Mosquito Control District, Browns Creek Watershed, and the Regional Rail Authority. Tax Collections for the City Levv/Collect Net ~evv(a) Collected During Collection Year Amount Percent, Collected As of 12-31-02 Amount Percent 2002/03 2001/02 2000/01 1999/00 1998/99 $6,603,957(b) 5,445,489(c) 4,700,586 4,315,153 4,237,359 98.1% 99.1 99.5 99.8 (In the Process of Collection) 98.1 % $5,343,043 98.3 4,660,289 98.3 4,293,711 98.6 4,227,453 $5,343,043 4,620,565 4,240,410 4,178,056 (a) The net levy excludes state aid for property tax relief and fiscal disparities, if applicable. The net levy is the basis for computing tax capacity rates. (b) Information from the City of Stillwater. (c) The net levy starting in 2001/02 was affected by legislative changes in 2001 to the Minnesota property tax law. See Appendix III. - 13 - FUNDS ON HAND As of December 31, 2002 General Special Revenue Capital Projects Enterprise Debt Service: G.O. Debt Supported by Taxes G.O. Debt Supported by Taxes and/or Special Assessments G.O. Debt Supported by Tax Increment G.O. Debt Supported by Revenues $ 2,497,883 1,420,311 7,548,717 4,628,214 1 ,652,580 2,610,234 365,990 477.39'( $21,201,326 Total CASH AND INVESTMENTS As of December 31, 2002, the City's fund cash balance totaled $21,201,326.05. All investments are held in certificates of deposit, U.S. Government, U.S. federal agency securities, and repurchase agreements. Interest rates of the City's portfolio range from 1.74% to 6.525%. The investments mature in a range of three to ten years. A formal investment policy is maintained, with all investments for the City made by the City Administrator/Treasu rer. GENERAL INFORMATION CONCERNING THE CITY Stillwater is located in central Washington County on the St. Croix River, approximately 20 miles east of the Minneapolis/Saint Paul metropolitan area. Stillwater encompasses an area of approximately 6.68 square miles (4,275 acres). U.S. Census Pooulation Year % Chanoe 2001 2000 1990 1980 1970 15,589* 15,143 13,882 12,290 10,191 +3.0% + 9.1 +13.0 +20.6 Metropolitan Council estimate. Although the City's tax base is primarily residential, the economy is influenced by a large number of public employers. Stillwater is the Washington County Seat and the headquarters for Independent School District 834. The adjacent cities of Bayport and Oak Park Heights are the homes of two major State correctional facilities. - 14 - . . . . . .' . , J . APPENDIX III SUMMARY OF TAX LEVIES, PAYMENT PROVISIONS, AND MINNESOTA REAL PROPERTY VALUATION (effective through payable 2003) Following is a summary of certain statutory provisions effective through payable 2003 relative to tax .Ievy procedures, tax payment and credit procedures, and the mechanics of real property valu~t!on. ~h.e su~mary does n~t purport to be inclusive of all such provisions or of the specific proVIsions discussed, and IS qualified by reference to the complete text of applicable statutes, rules and regulations of the State of Minnesota. Property Valuations (Chapter 273, Minnesota Statutes) Assessor's Estimated Market Value. Each parcel of real property subject to taxation must, by st~tute, be. appraise~ at least once ev~ry four years as of January 2 of the year of appraisal. With certain exceptions, all property IS valued at its market value, which is the value the assess~r determines to be the price the property to be fairly worth, and which is referred to as the "Estimated Market Value." ~imitation .of Market Value Increase~. Effective through assessment year 2003, the amount of Increase In market value for all property classified as agricultural homestead or non- homestead, residential homestead or non-homestead, or non-commercial seasonal recreational residential, wh!ch is entered by the assessor in the current assessment year, may n?t exceed the greater of (I) 10.0% of the value in the preceding assessment or (ii) 15% of the difference between the current assessment and the preceding assessment. Indicated Market Value. Because the Estimated Market Value as determined by an assessor may not represent the price of real property in the marketplace, the "Indicated Market Value" is generally regarded as mOre representative of full value. The Indicated Market Value is de!ermined ~y dividing the Estimated Market Value of a given year by the same year's sales ratio determined by the State Department of Revenue. The sales ratio represents the overall relationship between the Estimated Market Value of property within the taxing unit and actual selling price. Net Tax Caoacitv. The Net Tax Capacity is the value upon which net taxes are levied, extended and collected. The Net Tax Capacity is computed by applying the class rate percentages specific to each type of property classification against the Estimated Market Value. Class rate percentages vary depending on the type of property as shown on the last page of this Appendix. The formulas and class rates for converting Estimated Market Value to Net. Tax Capacity re~r~sent a basic element of the State's property tax relief system and are subject to annual reVISions by the State Legislature. Property taxes are determined by multiplying the Net Tax Capacity by the tax capacity rate, expressed as a percentage. Property Tax Payments and Delinquencies (Chapters 275,276,277,279-282 and 549, Minnesota Statutes) Ad valorem property taxes levied by local governments in Minnesota are extended and collected by the various counties within the State. Each taxing jurisdiction is required to certify the annual tax levy to the county auditor within five (5) working days after December 20 of the yea~ preceding the collection year. A listing of property taxes due is prepared by the county auditor and turned over to the county treasurer on or before the first business day in March. 111-1 . (This page was left blank intentionally.) . . . . . . . . . Major Employers in the Area ~molover Approximate Number of Emolovees Product/Service Washington County Andersen Corporation* Independent School District 834 Lakeview Memorial Hospital UFE Incorporated INCSTAR Corp. Minnesota State Prison* Cub Foods, Inc. Design Fabricated Parts, Inc. Target Government Manufacturing Windows and Doors Education Medical Plastic Injection Molding Medical Manufacturing Correctional Institution Retail Grocery Automotive Graphics Retail 11,000 4,847 1,112 650 440 390 329 315 250 170 * These employers are outside the City of Stillwater. Source: Minnesota Fact Book 2003 and sUNey of individual employers, February 2003. Labor Force Data December 2002 Civilian Unemployment Labor Force Rate December 2001 Civilian Unemployment Labor Force .Rate Washington County Minneapolis-St. Paul MSA Minnesota 122,741 1,790,086 2,817,896 2.8% 3.5 3.7 121,711 1,776,776 2,806,192 2.8% 3.5 3.8 Source: Minnesota Department of Economic Security. 2002 data are preliminary. Recent Development Stillwater's residents and business owners in the early 1970s began to encourage the historic preservation of City structures, both commercial and residential. This movement has been at least partially responsible for restoring the City's downtown area to its original nineteenth- century river town character, with many businesses and shops housed in buildings more than 100 years old. Downtown Stillwater and eight residential structures are on the National Register of Historic Places. Many of the City's older homes have been restored to their historical period and are occasionally open for public tours. During 1991 and 1992, the City undertook a $9,000,000 street and utility rehabilitation improvement project in the downtown area. The project included separation of storm sewer connections from the sanitary sewer system, new streets and sidewalks, replacement of 100 year old sewer and water mains, and new street lighting. The restoration/preservation movement has generated a significant tourist trade which is important to the City's economy. During 2001, the City continued to work with developers to carry out Phases I and II and the beginning of Phase III of plans related to the Orderly Annexation agreement between the City of Stillwater and Stillwater Township, within the guidelines established in the City's updated Comprehensive Plan. The Comprehensive Plan calls for growth of the City to the north, west, and south during 1996 to 2020. The growth will include annexation of approximately 1,800 acres of land, 1,200 new housing units, and 60 acres of land that is located along Trunk Highway 36, that is planned for light industrial development. Five hundred lakeshore, -15- traditional and cottage townhomes units should be constructed over the next three to four years in the Phase I and Phase II areas. The market value of the units ranges from $250,000 to $500,000. 2002 saw the fifth year of operation for the new St. Croix Valley Recreation Center. A second ice rink addition to the Recreation Center was completed and in operation in October 2000. The Center now includes two sheets of ice and a multi-use domed fieldhouse. The City also operates a third ice arena at the Lily Lake sports facilities complex. During 2000, several new businesses, including a major restaurant, printing operation, and an express motel were constructed in Market Place, a major retail center. During 2001 the City continued to work with development groups to further develop and preserve the historic downtown business district. In November 2001 the City gave concept approval to the redevelopment of the historic Minnesota Territorial Prison, located on the north edge of the downtown area. The development concept is to convert the site into 200 housing units and about 12,000 square feet of retail/office space. The project would be phased in over a three-year period. The market value of the completed project is estimated to be $44,000,000. A development agreement is currently being negotiated with anticipated execution in early March 2003. Land has been purchased for a 59-unit condominium project on the north end of the historic downtown district. The City has received grants totaling $724,000 to assist in the cleanup of contaminated soils on the site. Pre-sales for the project have started and work on a final development agreement continue. Total value is estimated to be $32,000,000. On the south end of the downtown business district, work continues on the development of an additional 40 condominium units valued at $11,000,000. When all these projects are developed, they will total $87,000,000 in market value and bring an additional 329 condominium units to the downtown area. These projects are being developed in strict compliance with the City's Comprehensive Plan with the goal of revitalizing the central business district on a 12-month per year basis. Summary of Building Permits Total Permits Number Value 2,067 $65,586,810 1,616 60,598,170 1,606 53,266,824 624 35,768,761 925 24,950,228 918 23,218,109 577 25,436,052 916 22,471,404 983 22,012,582 1,061 39,390,000 Sinale-Familv Home Permits Number 104 104 106 106 37 36 18 49 87 121 Yalu~ $25,822,696 23,856,139 26,585,488 21,541,330 6,578,231 4,712,835 2,919,500 5,739,224 9,822,674 3,614,982 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 Financial Institutions Commercial banks located in the City include Central Bank; Eagle Valley Bank, National Association; Wells Fargo Bank Minnesota, National Association; TCF National Bank Minnesota; S & C Bank, U.S. Bank National Association and Jennings State Bank. Source: http:\\www.ffiec.govlnicl -16- . . . . . ii' . .' . . SECTION 12. Reserved Riahts. The Issuer reserves the right to discontinue providing any information required under the Rule if a final determination should be made by a court of competent jurisdiction that the Rule is invalid or otherwise unlawful or, subject to the provisions of Section 8 hereof, to modify the undertaking under this Disclosure Undertaking if the Issuer determines that such modification is required by the Rule or by a court of competent jurisdiction. Date: April _, 2003. CITY OF STILLWATER, MINNESOTA By Its Mayor By Its Clerk 11-5 B. Whenever an event listed in Section 5.A. above has occurred, the Issuer shall as soon as possible determine if such event would constitute material information for Owners of Bonds. If knowledge of the Occurrence would be material, the Issuer shall promptly file a notice of such Occurrence with each National Repository or the MSRB and with the State Depository, if any. C. The Issuer agrees to provide or cause to be provided, in a timely manner, to each National Repository or the MSRB and to the State Depository, if any, notice of a failure by the Issuer to provide the Annual Reports described in Section 4. SECTION 6. Termination of Reoortina Obliaation. The Issuer's obligations under this Disclosure Undertaking shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. SECTION 7. Dissemination Aaent. The Issuer may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Undertaking, and may discharge any such Agent, with or without appointing a successor Dissemination Agent. SECTION 8. Amendment: Waiver. Notwithstanding any other provision of this Disclosure Undertaking, the Issuer may amend this Disclosure Undertaking, and any provision of this Disclosure Undertaking may be waived, if (a) a change in law or change in the ordinary business or operation of the Issuer has occurred, (b) such amendment or waiver would not, in and of itself, cause the undertakings herein to violate the Rule if such amendment or waiver had been effective on the date hereof but taking into account any subsequent change in or official interpretation of the Rule, and (c) such amendment or waiver is supported by an opinion of counsel expert in federal securities laws to the effect that such amendment or waiver would not materially impair the interests of Owners. SECTION 9. Additional Information. Nothing in this Disclosure Undertaking shall be deemed to prevent the Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Undertaking or any other means of communication, or including any other information in any Annual Report or notice of an Occurrence, in addition to that which is required by this Disclosure Undertaking. If the Issuer chooses to include any information in any Annual Report or notice of an Occurrence in addition to that which is specifically required by this Disclosure Undertaking, the Issuer shall have no obligation under this Disclosure Undertaking to update such information or include it in any future Annual Report or notice of an Occurrence. SECTION 10. Default. In the event of a failure of the Issuer to provide information required by this Disclosure Undertaking, any Owner may take such actions as may be necessary and appropriate, including seeking mandamus or specific performance by court order, to cause the Issuer to comply with its obligations to provide information under this Disclosure Undertaking. A default under this Disclosure Undertaking shall not be deemed an Event of Default under the Resolution, and the sole remedy under this Disclosure Undertaking in the event of any failure of the Issuer to comply with this Disclosure Undertaking shall be an action to compel performance. SECTION 11. Beneficiaries. This Disclosure Undertaking shall inure solely to the benefit of the Issuer, the Participating Underwriters and Owners from time to time of the Bonds, and shall create no rights in any other person or entity. 11-4 . . . . , . . Medical Services Lakeview Memorial Hospital, owned by a private nonprofit corporation, is a 97-bed general hospital facility located in the City. There are three nursing homes in the City with a total of 286 licensed beds. Source: http://www.health.state.mn.us/divs/fpc/directory/fpcdir.html Education Independent School District 834 serves the City of Stillwater and some surrounding communities. The District has a 2002/03 enrollment of approximately 9,300 students in grades kindergarten through twelve. The physical plant of the District includes ten elementary schools, two junior high schools, one senior high school, one alternative learning center, one early childhood family center and one charter school. GOVERNMENTAL ORGANIZATION AND SERVICES Organization Stillwater has been a municipal corporation with a Mayor-Council form of government since 1854, and is organized and governed pursuant to a Home Rule Charter adopted in 1 ~26. The Mayor and all four Council members are elected at-large to serve four-year overlapping terms of office. The present Council is comprised of the following members: Exoiration of Term Jay L. Kimble Gary Kriesel Wally Milbrandt John Rheinberger David Junker Mayor Council Member (Ward 4) Council Member (Ward 3) Council Member (Ward 2) Council Member (Ward 1) January 2007 January 2007 January 2005 January 2005 January 2007 The Administrator is responsible for the daily management of City business and. the administration of policy as directed by the Council. The City Administrator/Treasurer, Mr. Larry Hansen has served in this capacity since January 2002. Previously, since 1987, Mr. Hansen was the City Administrator/ClerklTreasurer for the City of Stewartville, Minnesota. Official record-keeping functions are the responsibility of the City Clerk, Ms. Diane Ward. The City employs approximately 83 full-time persons in its. vari.ous departmen~s, ~~i~h include fire, police, public works, administration, parks and recreatIon, library, and public utilities. Services City-wide police protection is provided by 24 full-time personnel and officers. The Sti.llwater Fire Department, comprised of eight full-time members and 30 volunteers, serves the CIty and some surrounding communities. Stillwater has a class 3 fire insurance rating. Municipal sewer and water service is available to virtually all of the presently dev~lo~ed areas of the City. The water utility is governed by a six-member Board of Water Commissioners, all of whom are appointed by the Mayor. -17- The water supply is taken from seven wells. The combined pumping capacity for the wells is 6,100 gallons per minute. The system has a storage capacity of 3.25 million gallons. Daily water demand for the City averages 1.9 million gallons per day; peak demand is estimated at 5.5 million gallons per day. Although the City owns and maintains its own sanitary and storm sewer collection systems, the wastewater treatment plant and certain other core facilities are owned and operated by the Metropolitan Council's Office of Environmental Services ("OES") an agency of the Metropolitan Council. Electricity and natural gas are provided by Xcel Energy. Pensions All full-time and certain part-time employees of the City are covered by defined benefit pension plans administered by the Public Employees Retirement Association of Minnesota (PERA). The PERA administers the Public Employees Retirement Fund and the Public Employees Police and Fire Fund which are cost-sharing multiple-employer public employee retirement systems. Public Employees Retirement Fund members belong to either the Coordinated Fund or the Basic Fund. Coordinated members are covered by Social Security and Basic members are not. All police officers, fire fighters and peace officers who qualify for membership by statute are covered by the Police and Fire Fund. The PERA plans provide pension benefits, deferred annuity, and death and disability benefits. Benefits are established by State statute. The City's contributions to the Public Employees Retirement Fund for the years ending December 31, 2001, 2000, and 1999 were $135,442, $123,150, and $120,207 , respectively. The City's contributions to the Public Employees Police and Fire Fund for the years ending December 31, 2001, 2000, and 1999 were $150,508, $136,288, and $147,388, respectively. The City's contributions wer~ equal to the contractually required obligations for each year as set by state statute. Fire pensions are payable from the Stillwater Firemen's Relief Association, an organization incorporated under Minnesota Statutes to which the City contributes. Contributions were made by the State of Minnesota in 2001, 2000, and 1999 totaling $87,142, $83,966, and $80,597, respectively and no contribution was required to be made by the City. - 18 - . The following financial information and operating data shall be supplied: A. an update of the operating and financial data of the type of information contained in the Official Statement under the captions: CITY PROPERTY VALUES; CITY INDEBTEDNESS; and CITY TAX RATES, LEVIES AND COLLECTIONS. . ,; 8. Audited Financial Statements of the Issuer. The Audited Financial Statements of the Issuer may be submitted to each Repository separately from the balance of the Annual Report. In the event Audited Financial Statements of the Issuer are not available on or before the date for filing the Annual Report with the appropriate Repositories as set forth in Section 3.A. above, unaudited financial statements shall be provided as part of the Annual Report. The accounting principles pursuant to which the financial statements will be prepared will be pursuant to generally accepted accounting principles promulgated by the Financial Accounting Standards Board, as such principles are modified by the governmental accounting standards promulgated by the Government Accounting Standards Board, as in effect from time to time. If Audited Financial Statements are not provided because they are not available on or before the date for filing the Annual Report, the Issuer shall promptly provide them to the Repositories when available. SECTION 5. Reoortino of Sionificant Events. A. This Section 5 shall govern the giving of notices of the occurrence of any of the following events with respect to the Bonds, if material: . . (1) principal and interest payment delinquency; (2) non-payment related defaults; (3) unscheduled draws on debt service reserves reflecting financial difficulties; (4) unscheduled draws on credit enhancements reflecting financial difficulties; (5) substitution of credit or liquidity providers, or their failure to perform; (6) adverse tax opinions or events affecting the tax-exempt status of the secu rity; (7) modifications to rights of security holders; (8) Bond calls; (9) defeasances; (10) release, substitution or sale of property securing repayment of the Bonds; and . . (11) rating changes. 11-3 Standard & Poor's J.J. Kenny Repository 55 Water Street - 45th Floor New York, NY 10041 Attn: Repository Services Phone:(212) 438-4595; Fax: (212) 438-3975 E-mail: nrmsir_repository@sandp.com DPC Data Inc. One Executive Drive Fort Lee, NJ 07024 Phone: (201) 346-0701; Fax: E-Mail: Nrmsir@dpcdata.com "Occurrence(s)" shall mean any of the events listed in Section 5.A. of this Disclosure Undertaking. "Official Statement" shall be the Official Statement dated February 18, 2003, prepared in connection with the Bonds. "Owners" shall mean the registered holders and, if not the same, the beneficial owners of any Bonds. "Participating Underwriter" shall mean any of the original underwriters of the Bonds required to comply with the Rule in connection with offering of the Bonds. "Repository" shall mean each National Repository and each State Depository. "Resolution" shall mean the resolution or resolutions adopted by the Governing Body of the Issuer providing for, and authorizing the issuance of, the Bonds. "Rule" shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time or interpreted by the Securities and Exchange Commission. "State" shall mean the State of Minnesota. "State Depository" shall mean any public or private repository or entity designated by the State as a state depository for the purpose of the Rule. As of the date of this Disclosure Undertaking, there is no State Depository in Minnesota. SECTION 3. Provision of Annual Reoort$. (201) 947-0107 A. Beginning in connection with the fiscal Year ending on December 31 , 2002, the Issuer shall, or shall cause the Dissemination Agent to, as soon as available, but in any event not later than December 31,2003, and by December 31 of each year thereafter, provide to each Repository an Annual Report which is consistent with the requirements of Section 4 of this Disclosure Undertaking. B. If the Issuer is unable to provide to the Repositories an Annual Report by the date required in subsection A, the Issuer shall send a notice of such delay and estimated date of delivery to each Repository or to the MSRB and to the State Depository, if any. SECTION 4. Content and Format of Annual Reoorts. The Issuer's Annual Report shall contain or incorporate by reference the financial information and operating data pertaining to the Issuer listed below as of the end of the preceding Fiscal Year. The Annual Report may be submitted to each Repository as a single document or as separate documents comprising a package, and may cross-reference other information as provided in this Disclosure Undertaking. 11-2 General Fund Budget Summary . . 2002 2003 Budae! Budaet, Revenues: Taxes $4,094,477 $4,273,490 Licenses and Permits 747,763 656,720 Charges for Services 1 ,116,049 1,057,676 Fines and Forfeits 104,491 130,000 Intergovernmental 1,978,160 1,841,704 t Miscellaneous 252.671 - 173.050 Total Revenue $8,293,611 $8,132,640 Exoenditures: General Government $1,851,937 $1,783,474 Public Safety 2,942,762 3,134,930 Public Works 1 ,405,119 1,579,491 Unallocated 1,030,365 328,929 Capital Outlay 438.960. 1.075.539 Total Expenditures $7,669,143 $7,902,363 . . Revenue Over (Under) Expenditures $ 624,468 $ 230,277 Other Increases (Decreases): Transfers In $ 729,659 $1,124,587 Transfers Ouf (1.347.569) J1.354.864) Total Other Increases (Decreases) $ (617,910) $ (230,277) Net Increase (Decrease) in Fund Balance: $ 6,558 $ -0- Fund Balance - January 1 3.021.924 3.028.482 Projected Fund Balance - December 31 $S.028.482 $3.028.482 Normal operating transfers to special revenue funds - Library, Parks, and Special Events. . . . - 19 - . (This page was left blank intentionally.) . . . ~, 'I . .' . . APPENDIX II CONTINUING DISCLOSURE UNDERTAKING This Continuing Disclosure Undertaking (the "Disclosure Undertaking") is executed and delivered by the City of Stillwater, Minnesota (the "Issuer"), in connection with the issuance of $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A and $3,450,000 General Obligation Tax Increment Refunding Bonds, Series 2003B (combined, the "Bonds"). The Bonds are being issued pursuant to separate Resolutions adopted on March 4, 2003 (collectively, the "Resolution"). Pursuant to the Resolution and this Undertaking, the Issuer covenants and agrees as follows: SECTION 1. Puroose of the Disclosure Undertakinq. This Disclosure Undertaking is being executed and delivered by the Issuer for the benefit of the Owners and in order to assist the Participating Underwriters in complying with SEC Rule 15c2-12(b)(5). SECTION 2. Definitions. In addition to the definitions set forth in the Resolution, which apply to any capitalized term used in this Disclosure Undertaking unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: "Annual Report" shall mean any annual financial information provided by the Issuer pursuant to, and as described in, Sections 3 and 4 of this Disclosure Undertaking. "Audited Financial Statements" shall mean the financial statements of the Issuer audited annually by an independent certified public accounting firm, prepared pursuant to generally accepted accounting principles promulgated by the Financial Accounting Standards Board, modified by governmental accounting standards promulgated by the Government Accounting Standards Board. "Dissemination Agent" shall mean such party from time to time designated in writing by the Issuer to act as information dissemination agent and which has filed with the Issuer a written acceptance of such designation. "Fiscal Year" shall be the fiscal year of the Issuer. "Governing Body" shall, with respect to the Bonds, have the meaning given that term in Minnesota Statutes, Section 475.51, Subdivision 9. "MSRB" shall mean the Municipal Securities Rulemaking Board. "National Repository" shall mean any Nationally Recognized Municipal Securities Information Repository for purposes of the Rule. Currently, the following are National Repositories: Bloomberg Municipal Repository 100 Business Park Drive Skillman, NJ 08558 Phone:(609) 279-3225; Fax: (609) 279-5962 E-mail: Munis@Bloomberg.com FT Interactive Data Attn: Repository 100 William Street New York, NY 10038 Phone: (212) 771-6899; Fax: (212) 771-7390 E-mail: NRMSIR@interactive.com 11-1 the Minnesota alternative minimum tax applicable to individuals, estates or trusts; it should be noted, however, that for the purpose of computing the federal alternative minimum tax imposed on corporations, such interest is taken into account in determining adjusted current earnings. The opinions set forth in the preceding sentence are subject to the condition that the Issuer comply with all requirements of the Internal Revenue Code of 1986, as amended, that must be satisfied subsequent to the issuance of the Bonds in order that interest thereon be, or continue to be, excluded from gross income for federal income tax purposes and from both gross income and taxable net income for State of Minnesota income tax purposes. Failure to comply with certain of such requirements may cause the inclusion of interest on the Bonds in gross income and taxable net income retroactive to the date of issuance of the Bonds. We express no opinion regarding other state or federal tax consequences caused by the receipt or accrual of interest on the Bonds or arising with respect to ownership of the Bonds. BRIGGS AND MORGAN Professional Association 1-4 . . .. . . . .' . . . APPENDIX I PROPOSED FORM OF LEGAL OPINIONS BRIGGS AND l\1:0RGAN 2200 FIRST NATIONAL BANK BUILDING 332 MINNESOTA STREET SAINT PAUL, MINNESOTA 55101 TELEPHONE (651) 223-6600 FACSIMILE (651) 223-6450 PROFESSIONAL ASSOCIATION W'WW.BRIGGS.COM $1,345,000 GENERAL OBLIGATION CAPITAL OUTLAY BONDS, SERIES 2003A CITY OF STILLWATER WASHINGTON COUNTY MINNESOTA We have acted as bond counsel in connection with the issuance by the City of Stillwater, Washington County, Minnesota (the "Issuer"), of its $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A, bearing a date of original issue of April 1, 2003 (the IIBonds"). We have examined the law and such certified proceedings and other documents as we deem necessary to render this opinion. We have not been engaged or undertaken to review the accuracy, completeness or sufficiency of the Official Statement or other offering material relating to the Bonds, and we express no opinion relating thereto. As to questions of fact material to our opinion, we have relied upon the certified proceedings and other certifications of public officials furnished to us without undertaking to verify the same by independent investigation. Based upon such examinations, and assuming the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity of the originals of such documents, and the accuracy of the statements of fact contained in such documents, and based upon present Minnesota and federal laws (which excludes any pending legislation which may have a retroactive effect on or before the date hereof), regulations, rulings and decisions, it is our opinion that: (1) The proceedings show lawful authority for the issuance of the Bonds according to their terms under the Constitution and laws of the State of Minnesota now in force. (2) The Bonds are valid and binding general obligations of the Issuer and all of the taxable property within the Issuer's jurisdiction is subject to the levy of an ad valorem tax to pay the same without limitation as to rate or amount; provided that the enforceability (but not the validity) of the Bonds and the pledge of taxes for the payment of the principal and interest thereon is subject to the exercise of judicial discretion in accordance with general principles of equity, to the constitutional powers of the United States of America and to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors'rights heretofore or hereafter enacted. (3) At the time of the issuance and delivery of the Bonds to the original purchaser, the interest on the Bonds is excluded from gross income for United States income tax purposes 1-1 and is excluded, to the same extent, from both gross income and taxable net income for State of Minnesota income tax purposes (other than Minnesota franchise taxes measured by income and imposed on corporations and financial institutions), and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations or the Minnesota alternative minimum tax applicable to individuals, estates or trusts; it should be noted, however, that for the purpose of computing the federal alternative minimum tax imposed on corporations, such interest is taken into account in determining adjusted current earnings. The opinions set forth in the preceding sentence are subject to the condition that the Issuer comply with all requirements of the Internal Revenue Code of 1986, as amended, that must be satisfied subsequent to the issuance of the Bonds in order that interest thereon be, or continue to be, excluded from gross income for federal income tax purposes and from both gross income and taxable net income for State of Minnesota income tax purposes. Failure to comply with certain of such requirements may cause the inclusion of interest on the Bonds in gross income and taxable net income retroactive to the date of issuance of the Bonds. We express no opinion regarding other state or federal tax consequences caused by the receipt or accrual of interest on the Bonds or arising with respect to ownership of the Bonds. .. ,ill ,t. BRIGGS AND MORGAN Professional Association . . ., .' . . 1-2 BRIGGS AND lVlORGAN 2200 FIRST NATIONAL BANK BUILDING 332 MINNESOTA STREET SAINT PAUL, MINNESOTA 55101 TELEPHONE (651) 223-6600 FACSIMILE (651) 223-6450 PROFESSIONAL ASSOClA TION WWW.BRIGGS.COM $3,450,000 GENERAL OBUGA TION TAX INCREMENT REFUNDING BONDS, SERIES 2003B CITY OF STILLWATER WASHINGTON COUNTY MINNESOTA We have acted as bond counsel in connection with the issuance by the City of Stillwater, Washington County, Minnesota (the "Issuer"), of its $3,450,000 General Obligation Tax Increment Refunding Bonds, Series 2003B, bearing a date of original issue of April 1, 2003 (the "Bonds"). We have examined the law and such certified proceedings and other documents as we deem necessary to render this opinion. We have not been engaged or undertaken to review the accuracy, completeness or sufficiency of the Official Statement or other offering material relating to the Bonds, and we express no opinion relating thereto. As to questions of fact material to our opinion, we have relied upon the certified proceedings and other certifications of public officials furnished to us without undertaking to verify the same by independent investigation. Based upon such examinations, and assuming the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity of the originals of such documents, and the accuracy of the statements of fact contained in such documents, and based upon present Minnesota and federal laws (which excludes any pending legislation which may have a retroactive effect on or before the date hereof), regulations, rulings and decisions, it is our opinion that: (1) The proceedings show lawful authority for the issuance of the Bonds according to their terms under the Constitution and laws of the State of Minnesota now in force. (2) The Bonds are valid and binding general obligations of the Issuer and all of the taxable property within the Issuer's jurisdiction is subject to the levy of an ad valorem tax to pay the same without limitation as to rate or amount; provided that the enforceability (but not the validity) of the Bonds and the pledge of taxes for the payment of the principal and interest thereon is subject to the exercise of judicial discretion in accordance with general principles of equity, to the constitutional powers of the United States of America and to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted. (3) At the time of the issuance and delivery of the Bonds to the original purchaser, the interest on the Bonds is excluded from gross income for United States income tax purposes and is excluded, to the same extent, from both gross income and taxable net income for State of Minnesota income tax purposes (other than Minnesota franchise taxes measured by income and imposed on corporations and financial institutions), and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations or 1-3 ) .- . EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF STILLWATER, MINNESOTA HELD: March 4, 2003 Pursuant to due call, a regular meeting of the City Council of the City of Stillwater, Washington County, Minnesota, was duly held at the City Hall on March 4,2003, at 7:00 P.M., for the purpose, in part, of considering proposals for, and awarding the competitive negotiated sale of, $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A. The following members were present: and the following were absent: The City Clerk presented proposals on $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A of the City, for which proposals were to be received, opened and tabulated by the City Clerk, or designee, this same day, in accordance with the resolution adopted by the City Council on February 4,2003. . The following proposals were received, opened and. tabulated at 10:00 A.M., Central Time, at the offices of Springsted Incorporated, in the presence of the City Clerk, or designee, on this same day: Bidder Interest Rate True Interest Cost The Council then proceeded to consider and discuss the proposals, after which member introduced the following resolution and moved its adoption: RESOLUTION 2003- RESOLUTION ACCEPTING PROPOSAL ON THE COMPETITIVE NEGOTIATED SALE OF $1,345,000 GENERAL OBLIGA TION CAPITAL OUTLAY BONDS, SERIES 2003A, AND PROVIDING FOR THEIR ISSUANCE A. WHEREAS, the City Council ofthe City of Stillwater, Minnesota (the "City") has heretofore determined and declared that it is necessary and expedient to issue $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A (the "Bonds" or, individually, a '. "Bond"), pursuant to Minnesota Statutes, Chapter 475, and Sections 10.5 and 10.6 of the City's 1497559vl <( Charter, to finance the cost of the 2003 capital outlay projects of various departments within the . City (the "Project") as more fully described in the February 4, 2003 resolution; and B. WHEREAS, it is in the best interests of the City that the Bonds be issued in book- entry form as hereinafter provided; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Stillwater, Minnesota, as follows: I. Acceotance of Prooosal. The proposal of (the "Purchaser"), to purchase the Bonds in accordance with the Terms of Proposal, at the rates of interest hereinafter set forth, and to pay therefor the sum of $ , plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted and the Bonds are hereby awarded to such proposal maker. The City Clerk is directed to retain the deposit of said proposed maker and to forthwith return to the unsuccessful proposed makers their good faith checks and drafts. 2. Bond Terms. (a) Title: Original Issue Date: Denominations: Maturities: Term Bond Ootion. The Bonds shall be dated April 1 ,2003, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The Bonds shall be numbered from R-I upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations"). The Bonds shall mature on February I in the years and amounts as follows: . Year Amount 2004 2005-'2006 2007-2008 2009 2010 2011 $155,000 160,000 165,000 175,000 180,000 185,000 All dates are inclusive. As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). (b) Book Entrv Only System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository") will act as securities depository for the Bonds, and to this end: .' 2 1497559vl ~. . . . 1497559vl (i) The Bonds shall be initially issued and, so long as they remain in book entry form only (the "Book Entry Only Period"), shall at all times be in the form of a separate single fully registered Bond for each maturity of the Bonds; and for purposes of complying with this requirement under paragraphs 5 and 10 Authorized Denominations for any Bond shall be deemed to be limited during the Book Entry Only Period to the outstanding principal amount of that Bond. (ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond register maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE & CO., as the nominee (it or any nominee of the existing or a successor Depository, the "Nominee"). (iii) With respect to the Bonds neither the City nor the Bond Registrar shall have any responsibility or obligation to any broker, dealer, bank, or any other financial institution for which the Depository holds Bonds as securities depository (the "Participant") or the person for which a Participant holds an interest in the Bonds shown on the books and records of the Participant (the "Beneficial Owner"). Without limiting the immediately preceding sentence, neither the City, nor the Bond Registrar, shall have any such responsibility or obligation with respect to (A) the accuracy of the records of the Depository, the Nominee or any Participant with respect to any ownership interest in the Bonds, or (B) the delivery to any Participant, any Owner or any other person, other than the Depository, of any notice with respect to the Bonds, including any notice of redemption, or (C) the payment to any Participant, any Beneficial Owner or any other person, other than the Depository, of any amount with respect to the principal of or premium, if any, or interest on the Bonds, or (D) the consent given or other action taken by the Depository as the Registered Holder of any Bonds (the "Holder"). For purposes of securing the vote or consent of any Holder under this Resolution, the City may, however, rely upon an omnibus proxy under which the Depository assigns its consenting or voting rights to certain Participants to whose accounts the Bonds are credited on the record date identified in a listing attached to the omnibus proxy. (iv) The City and the Bond Registrar may treat as and deem the Depository to be the absolute owner of the Bonds for the purpose of payment of the principal of and premium, if any, and interest on the Bonds, for the purpose of giving notices of redemption and other matters with respect to the Bonds, for the purpose of obtaining any consent or other action to be taken by Holders for the purpose of registering transfers with respect to such Bonds, and for all purpose whatsoever. The Bond Registrar, as paying agent hereunder, shall pay all principal of and premium, if any, and interest on the Bonds only to the Holder or the Holders of the Bonds as shown on the bond register, and all such payments shall be valid and effective to fully satisfy and discharge the City's obligations with respect to the principal of and premium, if any, and interest on the Bonds to the extent of the sum or sums so paid. (v) Upon delivery by the Depository to the Bond Registrar of written notice to the effect that the Depository has determined to substitute a new Nominee in place of the existing Nominee, and subject to the transfer provisions in paragraph 10 hereof, references to the Nominee hereunder shall refer to such new Nominee. 3 . (vi) So long as any Bond is registered in the name of a Nominee, all payments with respect to the principal of and premium, if any, and interest on such Bond and all . notices with respect to such Bond shall be made and given, respectively, by the Bond Registrar or City, as the case may be, to the Depository as provided in the Letter of Representations to the Depository required by the Depository as a condition to its acting as book-entry Depository for the Bonds (said Letter of Representations, together with any replacement thereof or amendment or substitute thereto, including any standard procedures or policies referenced therein or applicable thereto respecting the procedures and other matters relating to the Depository's role as book-entry Depository for the Bonds, collectively hereinafter referred to as the "Letter of Representations"). (vii) All transfers of beneficial ownership interests in each Bond issued in book-entry form shall be limited in principal amount to Authorized Denominations and shall be effected by procedures by the Depository with the Participants for recording and transferring the ownership of beneficial interests in such Bonds. (viii) In connection with any notice or other communication to he provided to the Holders pursuant to this Resolution by the City or Bond Registrar with respect to any consent or other action to be taken by Holders, the Depository shall consider the date of receipt of notice requesting such consent or other action as the record date for such consent or other action; provided, that the City or the Bond Registrar may establish a special record date for such consent or other action. The City or the Bond Registrar shall, to the extent possible, give the Depository notice of such special record date not less than 15 calendar days in advance of such special record date to the extent possible. . (ix) Any successor Bond Registrar in its written acceptance of its duties under this Resolution and any paying agency/bond registrar agreement, shall agree to take any actions necessary from time to time to comply with the requirements of the Letter of Representations. (c) Termination of Book-Entrv Only SYstem. Discontinuance of a particular Depository's services and termination of the book-entry only system may be effected as follows: (i) The Depository may determine to discontinue providing its services with respect to the Bonds at any time by giving written notice to the City and discharging its responsibilities with respect thereto under applicable law. The City may terminate the services of the Depository with respect to the Bond if it determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book-entry transfers through the Depository is not in the best interests of the City or the Beneficial Owners. (ii) Upon termination ofthe services ofthe Depository as provided in the preceding paragraph, and if no substitute securities depository is willing to undertake the functions of the Depository hereunder can be found which, in the opinion of the City, is willing and able to assume such functions upon reasonable or customary terms, or if the City determines that it is in the best interests of the City or the Beneficial Owners ofthe Bond that the Beneficial Owners be able to obtain certificates for the Bonds, the Bonds . shall no longer be registered as being registered in the bond register in the name of the 4 1497559vl . . . Nominee, but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with paragraph I I hereof. To the extent that the Beneficial Owners are designated as the transferee by the Holders, in accordance with paragraph 10 hereof, the Bonds will be delivered to the Beneficial Owners. (iii) Nothing in this subparagraph (c) shall limit or restrict the provisions of paragraph 10 hereof. (d) Letter of Reoresentations. The provisions in the Letter of Representations are incorporated herein by reference and made a part of the resolution, and if and to the extent any such provisions are inconsistent with the other provisions of this resolution, the provisions in the Letter of Representations shall control. 3. Purpose. The Bonds shall provide funds to finance the Project. The total cost of the Project, which shall include all costs enumerated in Minnesota Statutes, Section 475.65, is estimated to be at least equal to the amount of the Bonds. Work on the Project shall proceed with due diligence to completion. The City covenants that it shall do all things and perform all acts required of it to assure that work on the Project proceeds with due diligence to completion and that any and all permits and studies required under law for the Project are obtained. 4. Interest. The Bonds shall bear interest payable semiannually on February I and August 1 of each year (each, an "Interest Payment Date"), commencing February 1, 2004, calculated on the basis of a 360-day year of twelve 30-day months, at the respective rates per annum set forth opposite the maturity years as follows: Maturity Year Interest Rate 2004 % 2005 2006 2007 2008 2009 2010 2011 5. Redemotion. The Bonds are not subject to redemption and prepayment prior to their stated maturity dates. 6. Bond Registrar. U.S. Bank National Association, in St. Paul, Minnesota is appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond Registrar"), and shall do so unless and until a successor Bond Registrar is duly appointed, all pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. The Bond Registrar shall also serve as paying agent unless and until a successor paying agent is duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or . record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 12 of this resolution. 5 1497559vl ~ . . . UNITED STATES OF AMERICA STATE OF MINNESOTA WASHINGTON COUNTY CITY OF STILL WATER R- $ GENERAL OBLIGATION CAPITAL OUTLAY BOND, SERIES 2003A INTEREST RATE MA TURITY DATE DATE OF i ORIGINAL ISSUE CUSIP FEBRUARY 1,20_ APRIL I, 2003 i REGISTERED OWNER: PRINCIPAL AMOUNT: DOLLARS The City of Stillwater, Washington County, Minnesota (the "iIssuer"), certifies that it is indebted and for value received promises to pay to the registered owper specified above, or registered assigns, in the manner hereinafter set forth, the principal amount specified above, on the maturity date specified above, without option of prior redemption, and to pay interest thereon semiannually on February 1 and August I of each year (each, an "Interest Payment Date"), commencing February 1,2004, at the rate per annum specified above (calculated on the basis of a 360-day year of twelve 30-day months) until the principal sum is paid or has been provided for. This Bond will bear interest from the most recent Interest Payment Date to which interest has been paid or, if no interest has been paid, from the date of original issue hereof. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of U.S. Bank National Association, in St. Paul, Minnesota (the "Bond Registrar"), acting as paying agent, or any successor paying agent duly appointed by the Issuer. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the person in whose name this Bond is registered (the "Holder" or "Bon~holder") on the registration books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date"). Any interest not so timely paid shall cease to be payable to the person who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who is the Holder hereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given to Bondholders not less than ten days prior to the Special Record Date. The principal of and! premium, if any, and interest on this Bond are payable in lawful money of the United States of America. [So long as this Bond is registered in the name of the Depository or its Nominee as provided in the Resolution hereinafter described, and as those terms are define~ therein, payment of principal of, premium, if any, and interest on this Bond and notice with respect thereto shall be made as provided in the Letter of Representations, as defined in the Resolution, and surrender of this Bond shall not be required for payment o~ the redemption price upon a partial redemption of this Bond. Until termination of the book-entry only system 7 1497559vl .. pursuant to the Resolution, Bonds may only be registered in the name of the Depository or . its Nominee.]' REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH HERE. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota and the Charter of the Issuer to be done, to happen and to be performed, precedent to and in the issuance of this Bond, have been done, have happened and have been performed, in regular and due form, time and manner as required by law, and that this Bond, together with all other debts of the Issuer outstanding on the date of original issue hereof and the date of its issuance and delivery to the original purchaser, does not exceed any constitutional, charter or statutory limitation of indebtedness. IN WITNESS WHEREOF, the City of Stillwater, Washington County, Minnesota, by its City Council has caused this Bond to be executed on its behalfby the facsimile signatures of its Mayor and its Clerk, the corporate seal of the Issuer having been intentionally omitted as permitted by law. * Include only until termination of the book-entry only system under paragraph 2 hereof. 8 1497559vl . . . . . Date of Registration: Registrable by: U.S. BANK NATIONAL ASSOCIATION Payable at: U.S. BANK NATIONAL ASSOCIATION BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds described in the Resolution mentioned within. CITY OF STILL WATER, WASHINGTON COUNTY, MINNESOTA Mayor U.S. BANK NATIONAL ASSOCIATION St. Paul, Minnesota, Bond Registrar City Clerk By Authorized Signature 9 1497559vl ON REVERSE OF BOND . Redemotion. The Bonds of this issue are not subject to redemption and prepayment prior to their stated maturity date. Issuance: Puroose: General Obligation. This Bond is one of an issue in the total principal amount of$1 ,345,000, all oflike date of original issue and tenor, except as to number, maturity, interest rate and denomination, which Bond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and the Charter of the Issuerand pursuant to a resolution adopted by the City Council of the Issuer on March 4, 2003 (the "Resolution"), for the purpose of providing money to finance the 2003 capital outlay projects of various departments within the City. This Bond is payable out of the General Obligation Capital Outlay Bonds, Series 2003A Fund of the Issuer. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, and interest when the same become due, the full faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. Denominations: Exchange: Resolution. The Bonds are issuable solely in fully registered form in Authorized Denominations (as defined in the Resolution) and are exchangeable for fully registered Bonds of other Authorized Denominations in equal aggregate principal amounts at the principal office of the Bond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal office of the Bond Registrar. . Transfer. This Bond is transferable by the Holder in person or by the Holder's attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Bond Registrar, all subject to the terms and conditions provided in the Resolution and to reasonable regulations ofthe Issuer contained in any agreement with the Bond Registrar. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of the transferee (but not registered in blank or to "bearer" or similar designation), of an Authorized Denomination or Denominations, in aggregate principal amount equal to the principal amount of this Bond, of the same maturity and bearing interest at the same rate. Fees uoon Transfer or Loss. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of this Bond and any legal or unusual costs regarding transfers and lost Bonds. Treatment of Registered Owners. The Issuer and Bond Registrar may treat the person in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided (except as otherwise provided herein with respect to the Record Date) and for all other purposes, whether or not this Bond shall be overdue, and neither the Issuer nor the Bond Registrar shall be affected by notice to the contrary. . 10 1497559vl . . . Authentication. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security unless the Certificate of Authentication hereon shall have been executed by the Bond Registrar. Oualified Tax-Exempt Obligation. This Bond has been designated by the Issuer as a "qualified tax-exempt obligation" for purposes of Section 265(b )(3) of the Internal Revenue Code of 1986, as amended. 11 1497559vl '. ABBREVIATIONS . The following abbreviations, when used in the inscription on the face of this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right of survivorship and not as tenants in common UTMA - as custodian for (Cust) under the (Minor) Uniform Transfers to Minors Act (State) Additional abbreviations may also be used though not in the above list. ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto the within Bond and does hereby irrevocably constitute and appoint attorney to transfer the Bond on the books kept for the registration thereof, with full power of substitution in the premises. Dated: Notice: The assignor's signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or any change whatever. . Signature Guaranteed: Signature(s) must be guaranteed by a national bank or trust company or by a brokerage firm havinga membership in one ofthe major stock exchanges or any other "Eligible Guarantor Institution" as defined in I7 CFR 240.17 Ad-15( a)(2). The Bond Registrar will not effect transfer of this Bond unless the information concerning the transferee requested below is provided. Name and Address: (Include information for all joint owners if the Bond is held by joint account.) . 12 1497559vl . . . 8. Execution: Temoorarv Bonds. The Bonds shall be printed (or, at the request of the Purchaser, typewritten) and shall be executed on behalf of the City by the signatures of its Mayor and City Clerk and be sealed with the seal of the City; provided, however, that the seal of the City may be a printed (or, at the request of the Purchaser, photocopied) facsimile; and provided further that both of such signatures may be printed (or, at the request of the Purchaser, photocopied) facsimiles and the corporate seal may be omitted on the Bonds as permitted by law. In the event of disability or resignation or other absence of either officer, the Bonds may be signed by the manual or facsimile signature of an officer who may act on behalf of the absent or disabled officer. In case either officer whose signature or facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, the signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if the officer had remained in office until delivery. The City may elect to deliver, in lieu of printed definitive bonds, one or more typewritten temporary bonds in substantially the form set forth above, with such changes as may be necessary to reflect more than one maturity in a single temporary bond. Such temporary bonds may be executed with photocopied facsimile signatures of the Mayor and City Clerk. Such temporary bonds shall, upon the printing of the definitive bonds and the execution thereof, be exchanged therefor and canceled. 9. Authentication. No Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this resolution unless a Certificate of Authentication on the Bond, substantially in the form hereinabove set forth, shall have been duly executed by an authorized representative of the Bond Registrar. Certificates of Authentication on different Bonds need not be signed by the same person. The Bond Registrar shall authenticate the signatures of officers of the City on each Bond by execution of the Certificate of Authentication on the Bond and, by inserting as the date of registration in the space provided, the date on which the Bond is authenticated, except that for purposes of delivering the original Bonds to the Purchaser, the Bond Registrar shall insert as a date of registration the date of original issue, which date is April 1, 2003. The Certificate of Authentication so executed on each Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. 10. Registration: Transfer: Exchange. The City will cause to be kept at the principal office of the Bond Registrar a bond register in which, subject to such reasonable regulations as the Bond Registrar may prescribe, the Bond Registrar shall provide for the registration of Bonds and the registration of transfers of Bonds entitled to be registered or transferred as herein provided. Upon surrender for transfer of any Bond at the principal office of the Bond Registrar, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration (as provided in paragraph 9) of, and deliver, in the name of the designated transferee or transferees, one or more new Bonds of any Authorized Denomination or Denominations of a like aggregate principal amount, having the same stated maturity and interest rate, as requested by the transferor; provided, however, that no Bond may be registered in blank or in the name of "bearer" or similar designation. At the option of the Holder, Bonds may be exchanged for Bonds of any Authorized Denomination or Denominations of a like aggregate principal amount and stated maturity, upon surrender of the Bonds to be exchanged at the principal office of the Bond Registrar. Whenever 13 1497559vl any Bonds are so surrendered for exchange, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration of, and deliver the Bonds which the . Holder making the exchange is entitled to receive. All Bonds surrendered upon. any exchange or transfer provided for in this resolution shall be promptly canceled by the Bond Registrar and thereafter disposed of as directed by the City. All Bonds delivered in exchange for or upon transfer of Bonds shall be valid general obligations of the City evidencing the same debt, and entitled to the same benefits under this resolution, as the Bonds surrendered for such exchange or transfer. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the Bond Registrar, duly executed by the Holder thereof or the Holder's .attorney duly authorized in writing. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of any Bond and any legal or unusual costs regarding transfers and lost Bonds. Transfers shall also be subject to reasonable regulations of the City contained in any agreement with the Bond Registrar, including regulations which permit the Bond Registrar to close its transfer books between record dates and payment dates. The City Clerk is hereby authorized to negotiate and execute the terms of said agreement. 11. Rights Upon Transfer or Exchange. Each Bond delivered upon transfer of or in . exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond. 12. Interest Payment: Record Date. Interest on any Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond is registered (the "Holder") on the registration books of the City maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth (15th) day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date"). Any such interest not so timely paid shall cease to be payable to the person who is the Holder thereof as of the Regular Record Date, and shall be payable to the person who is the Holder thereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given by the Bond Registrar to the Holders not less than ten (10) days prior to the Special Record Date. 13. Treatment of Registered Owner. The City and Bond Registrar may treat the person in whose name any Bond is registered as the owner of such Bond for the purpose of receiving payment of principal of and premium, if any, and interest (subject to the payment provisions in paragraph 12 above) on, such Bond and for all other purposes whatsoever whether or not such Bond shall be overdue, and neither the City nor the Bond Registrar shall be affected by notice to the contrary. . 14 1497559vl . . . 14. Delivery; Aoolication of Proceeds. The Bonds when so prepared and executed shall be delivered by the Administrator to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obliged to see to the proper application thereof. 15. Fund and Accounts. There is hereby created a special fund to be designated the "General Obligation Capital Outlay Bonds, Series 2003A Fund" (the "Fund"), to be administered and maintained by the Administrator as a bookkeeping account separate and apart from all other accounts maintained in the official financial records of the City. The Fund shall be maintained in the manner herein specified until all of the Bonds and the interest thereon have been fully paid. There shall be maintained in the Fund two (2) separate accounts, to be designated the "Construction Account" and "Debt Service Account", respectively. (a) Construction Account. To the Construction Account there shall be credited the proceeds of the sale of the Bonds, less accrued interest received thereon, less any amount paid for the Bonds in excess of $1 ,328,860. From the Construction Account there shall be paid all costs and expenses of making the Project, including the cost of any construction contracts heretofore let and all other costs incurred and to be incurred of the kind authorized in Minnesota Statutes, Section 475.65. The moneys in the Construction Account shall be used for no other purpose except as otherwise provided by law; provided that the proceeds of the Bonds may also be used to the extent necessary to pay interest on the Bonds due prior to the anticipated date of commencement ofthe collection of taxes herein levied; and provided further that ifupon completion of the Project there shall remain any unexpended balance in the Construction Account, the balance shall be transferredby the Council to the Debt Service Account. (b) Debt Service Account. There are hereby pledged and there shall be credited to the Debt Service Account: (i) all accrued interest received upon delivery of the Bonds; (ii) any amount paid for the Bonds in excess of$ I ,328,860; (iii) collections of all taxes herein or hereafter levied for the payment of the Bonds and interest thereon; (iv) all funds remaining in the Construction Account after completion of the Project and payment of the costs thereof; (v) all investment earnings on moneys held in the Debt Service Account; and (vi) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Debt Service Account. The Debt Service Account shall be used solely to pay the principal and interest and any premiums for redemption of the Bonds and any other general obligation bonds of the City hereafter issued by the City and made payable from the Debt Service Account as proYided by law. No portion ofthe proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire higher yielding investments, except (1) for a reasonable temporary period until such proceeds are needed for the purpose for which the Bonds were issued, and (2) in addition to the above in an amount not greater than five percent (5%) of the proceeds of the Bonds. To this effect, any sums from time to time held in the Construction Account or Debt Service Account (or any other City fund or account which will be used to pay principal or interest to become due on the bonds payable therefrom) in excess of amounts which under then applicable federal arbitrage regulations may be invested without regard as to yield shall not be invested at a yield in excess of the applicable yield restrictions imposed by said arbitrage regulations on such investments after taking into account any applicable "temporary periods" or "minor portion" made available under 15 1497559vl the federal arbitrage regulations. In addition, the proceeds of the Bonds and money in the . Construction Account or Debt Service Account shall not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section I 49(b) of the federal Internal Revenue Code of 1986, as amended (the "Code"). 16. Tax Levv: Coverage Test. To provide moneys for payment of the principal and interest on the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Levv Year of Tax Collection Amount 2003-2009 2004-2010 (See attached Levy Schedule) The City has heretofore levied $200,000 in 2002 for payment of the principal and interest on the Bonds in 2004, a direct ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City. The tax levies are such that if collected in full they, together with estimated collections of other monies herein pledged for the payment of the Bonds, will produce at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. The tax levies shall be irrepealable so long as any of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3. . 17. Defeasance. When all Bonds have been discharged as provided in this paragraph, all pledges, covenants and other rights granted by this resolution to the registered holders of the Bonds shall, to the extent permitted by law, cease. The City may discharge its obligations with respect to any Bonds which are due on any date by irrevocably depositing with the Bond Registrar on or before that date a sum sufficient for the payment thereof in full; or if any Bond should not be paid when due, it may nevertheless be discharged by depositing with the Bond Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. The City may also discharge its obligations with respect to any prepayable Bonds called for redemption on any date when they are prepayable according to their terms, by depositing with the Bond Registrar on or before that date a sum sufficient for the payment thereof in full, provided that notice of redemption thereof has been duly given. The City may also at any time discharge its obligations with respect to any Bonds, subject to the provisions oflaw now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a suitable banking institution qualified by law as an escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, Subdivision 8, bearing interest payable at such times and at such rates and maturing on such dates as shall be required, without regard to sale and/or reinvestment, to pay all amounts to become due thereon to maturity or, if notice of redemption as herein required has been duly provided for, to such earlier redemption date. . 16 1497559vl . 18. Compliance With Reimbursement Bond Regulations. The provisions of this paragraph are intended to establish and provide for the City's compliance with United States Treasury Regulations Section 1.150-2 (the "Reimbursement Regulations") applicable to the "reimbursement proceeds" of the Bonds, being those portions thereof which will be used by the City to reimburse itself for any expenditure which the City paid or will have paid prior to the Closing Date (a "Reimbursement Expenditure"). The City hereby certifies and/or covenants as follows: . (a) Not later than 60 days after the date of payment of a Reimbursement Expenditure, the City (or person designated to do so on behalf of the City) has made or will have made a written declaration of the City's official intent (a "Declaration") which effectively (i) states the City's reasonable expectation to reimburse itself for the payment of the Reimbursement Expenditure out of the proceeds of a subsequent borrowing; (ii) gives a general and functional description of the property, project or program to which the Declaration relates and for which the Reimbursement Expenditure is paid, or identifies a specific fund or account of the City and the general functional purpose thereof from which the Reimbursement Expenditure was to be paid (collectively the "Project"); and (iii) states the maximum principal amount of debt expected to be issued by the City for the purpose of financing the Project; provided, however, that no such Declaration shall necessarily have been made with respect to: (i) "preliminary expenditures" for the Project, defined in the Reimbursement Regulations to include engineering or architectural, surveying and soil testing expenses and similar prefatory costs, which in the aggregate do not exceed 20% of the "issue price" of the Bonds, and (ii) a de minimis amount of Reimbursement Expenditures not in excess of the lesser of $1 00,000 or 5% of the proceeds of the Bonds. (b) Each Reimbursement Expenditure is a capital expenditure or a cost of issuance of the Bonds or any of the other types of expenditures described in Section 1.150-2( d)(3) of the Reimbursement Regulations. (c) The "reimbursement allocation" described in the Reimbursement Regulations for each Reimbursement Expenditure shall and will be made forthwith following (but not prior to) the issuance of the Bonds and in all events within the period ending on the date which is the later of three years after payment of the Reimbursement Expenditure or one year after the date on which the Project to which the Reimbursement Expenditure relates is first placed in service. (d) Each such reimbursement allocation will be made in a writing that evidences the City's use of Bond proceeds to reimburse the Reimbursement Expenditure and, ifmade within 30 days after the Bonds are issued, shall be treated as made on the day the Bonds are issued. Provided, however, that the City may take action contrary to any of the foregoing covenants in this paragraph 19 upon receipt of an opinion of its Bond Counsel for the Bonds stating in effect that such action will not impair the tax-exempt status of the Bonds. . 19. Continuing Disclosure. The City is the sole obligated person with respect to the Bonds. The City hereby agrees, in accordance with the provisions of Rule 15c2-12 (the "Rule"), promulgated by the Securities and Exchange Commission (the "Commission") pursuant to the 17 1497559vl Securities Exchange Act of 1934, as amended, and a Continuing Disclosure Undertaking (the . "Undertaking") hereinafter described to: (a) Provide or cause to be provided to each nationally recognized municipal securities information repository ("NRMSIR") and to the appropriate state information depository ("SID"), if any, for the State of Minnesota, in each case as designated by the Commission in accordance with the Rule, certain annual financial information and operating data in accordance with the Undertaking. The City reserves the right to modify from time to time the terms of the Undertaking as provided therein. (b) Provide or cause to be provided, in a timely manner, to (i) each NRMSIR or to the Municipal Securities Rulemaking Board ("MSRB") and (ii) the SID, notice of the occurrence of certain material events with respect to the Bonds in accordance with the Undertaking. (c) Provide or cause to be provided, in a timely manner, to (i) each NRMSIR or to the MSRB and (ii) the SID, notice of a failure by the City to provide the annual financial information with respect to the City described in the Undertaking. (d) The City agrees that its covenants pursuant to the Rule set forth in this paragraph and in the Undertaking is intended to be for the benefit of the Holders of the Bonds and shall be enforceable on behalf of such Holders; provided that the right to enforce the provisions of these covenants shall be limited to a right to obtain specific enforcement of the City's obligations under the covenants. The Mayor and City Clerk of the City, or any other officer of the City authorized to act in their place with "Officers" are hereby authorized and directed to execute on behalf of the City the Undertaking in substantially the form presented to the City Council subject to such modifications thereof or additions thereto as are (i) consistent with the requirements under the Rule, (ii) required by the Purchaser of the Bonds, and (iii) acceptable to the Officers. . 20. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Bonds, as the same respectively become due, the full faith, credit and taxing powers of the City shall be and are hereby irrevocably pledged. If the balance in the Debt Service Account is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency shall be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein. 21. Certificate of Registration. The City Clerk is hereby directed to file a certified copy of this resolution with the County Auditor of Washington County, Minnesota, together with such other information as the Auditor shall require, and to obtain the County Auditor's certificate that the Bonds have been entered in the County Auditors' Bond Register, and that the tax levy required by law has been made. 22. Records and Certificates. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser, and to the attorneys approving the legality of the issuance of the Bonds, certified copies of all proceedings and records of the City relating to the . Bonds and to the financial condition and affairs of the City, and such other affidavits, certificates 18 1497559vl . . . . and information as are required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. 23. Negative Covenant as to Use ofBQnd Proceeds and Proiect. The City hereby covenants not to use the proceeds of the Bonds or to use the Project, or to cause or permit them to be used, or to enter into any deferred payment arrangements for the cost of the Project, in such a manner as to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code. 24. Tax-Exempt Status oftl}e Bonds: Rebate: Elections. The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Bonds, including without limitation (l) requirements relating to temporary periods for investments, (2) limitations on amounts invested at a yield greater than the yield on the Bonds, and (3) the rebate of excess investment earnings to the United States. The City expects to satisfy the eighteen (18) month expenditure exemption for gross proceeds ofthe Bonds as provided in Section 1. 148-7(e)(l) of the Regulations. If any elections are available now or hereafter with respect to arbitrage or rebate matters relating to the Bonds, the Mayor, Administrator, or either of them, are hereby authorized and directed to make such elections as they deem necessary, appropriate or desirable in connection with the Bonds, and all such elections shall be, and shall be deemed and treated as, elections of the City. 25. Designation ofOualified Tax-Exemot Obligations. In order to qualify the Bonds as "qualified tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code, the City hereby makes the following factual statements and representations: (a) the Bonds are issued after August 7, 1986; (b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; (c) the City hereby designates the Bonds as "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code; (d) the reasonably anticipated amount of tax-exempt obligations (other than private activity bonds, treating qualified 501 (c)(3) bonds as not being private activity bonds) which will be issued by the City (and all entities treated as one issuer with the City, and all subordinate entities whose obligations are treated as issued by the City) during this calendar year 2003 will not exceed $10,000,000; and ( e) not more than $10,000,000 of obligations issued by the City during this calendar year 2003 have been designated for purposes of Section 265(b )(3) of the Code. The City shall use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designation made by this paragraph. 19 1497559vl , 26. Severability. If any section, paragraph or provision of this resolution shall be held . to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. 27. Headings. Headings in this resolution are included for convenience ofreference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing resolution was duly seconded by member and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: and the following voted against the same: Whereupon the resolution was declared duly passed and adopted. Adopted this 4th day of March, 2003. Approved: Mayor Attest: City Clerk . . 20 1497559vl , . . . STATE OF MINNESOTA COUNTY OF WASHINGTON CITY OF STILL WATER I, the undersigned, being the duly qualified and acting City Clerk of the City of Stillwater, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council, duly called and held on the date therein indicated, insofar as such minutes relate to considering proposals for, and awarding the sale of, $1,345,000 General Obligation Capital Outlay Bonds, Series 2003A ofthe City. WITNESS my hand this 4th day of March, 2003. City Clerk 21 1497559vl . . . ~ EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF STILL WATER, MINNESOTA HELD: March 4, 2003 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Stillwater, Washington County, Minnesota, was duly held at the City Hall in said City on Tuesday the 4th day of March, 2003, at 7 o'clock P.M., for the purpose of considering bids for, and awarding the competitive negotiated sale of, $3,450,000 General Obligation Tax Increment Refunding Bonds, Series 2003B of the City. The following members were present: and the following were absent: The City Clerk presented bids on $3,450,000 General Obligation Tax Increment Refunding Bonds, Series 2003B of the City, for which proposals were to be received, opened and tabulated by the City Clerk, or designee, this same day, in accordance with the resolution adopted by the City Council on February 4,2003. The following proposals were received, opened and tabulated at 10:00 A.M., Central Time, at the offices ofSpringsted Incorporated, in the presence of the City Clerk, or designee, on this same day: Bidder Interest Rate Net Interest Cost (See attached) Member adoption: introduced the following resolution and moved its RESOLUTION 2003- RESOLUTION ACCEPTING PROPOSAL ON THE COMPETITIVE NEGOTIATED SALE OF $3,450,000 GENERAL OBLIGATION TAX INCREMENT REFUNDING BONDS, SERIES 2003B, PROVIDING FOR THEIR ISSUANCE AND PLEDGING FOR THE SECURITY THEREOF TAX INCREMENTS A. WHEREAS, the City of Stillwater, Minnesota (the "City") heretofore issued $4,800,000 General Obligation Tax Increment Bonds, Series 1994C dated July 1, 1994 (the "Prior Tax Increment Bonds" or the "Prior Bonds"), for the purpose of providing money to 1500036vl finance public improvements (the "Tax Increment Project" or the "Project") within Tax Increment Financing District No.4 (the "Tax Increment District"); and . B. WHEREAS, tax increments derived from the Tax Increment District are referred to herein as the "Tax Increments" pursuant to theresolution of the City Council, dated May 3, 1994, authorizing issuance of the Prior Tax Increment Bonds (the "Prior Tax Increment Resolution" or the "Prior Resolution"); and C. WHEREAS, $3,345,000 in principal amount of the Prior Bonds which mature in the year 2004 and thereafter are subject to redemption and prepayment at the option of the City on May 1, 2003 and on any date thereafter at a price of par plus accrued interest, as provided in Prior Resolution; and D. WHEREAS, the City Council deems it desirable and in the best interests of the City to call for redemption and prepayment all of the Prior Bonds which mature on February 1, 2004, and thereafter, on May 1, 2003 in accordance with the Prior Resolution in order to reduce the debt service costs to the City; and E. WHEREAS, the City Council has heretofore determined and declared that it is necessary and expedient to issue $3,450,000 General Obligation Tax Increment Refunding Bonds, Series 2003B of the City (the "Bonds"), pursuant to Minnesota Statutes, Chapter 475, to provide funds to pay on May 1, 2003, all of the City's Prior Bonds, which then remain outstanding (the "Refunding"); and F. WHEREAS, it is in the best interests of the City that the Bonds be issued . in book-entry form as hereinafter provided; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Stillwater, Minnesota, as follows: 1. Acceptance of Proposal. The proposal of (the "Purchaser"), to purchase the Bonds (or individually a "Bond"), in accordance with the Terms of Offering, at the rates of interest hereinafter set forth, and to pay therefor the sum of $ , plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted, and the Bonds are hereby awarded to said proposal maker. The City Clerk is directed to retain the deposit of said proposal maker and to forthwith return to the unsuccessful proposal makers their good faith checks or drafts. 2. Bond Terms. (a) Title: Original Issue Date: Denominations: Maturities: Term Bond Option. The Bonds shall be titled "General Obligation Tax Increment Refunding Bonds, Series 2003B", shall be dated April 1, 2003, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The Bonds shall be numbered from R-l upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations"). The Bonds shall mature on February 1 in the years and amounts . as follows: 1500036vl 2 . Year Amount Year Amount 2004 $320,000 2009 345,000 2005 310,000 2010 365,000 2006 315,000 2011 370,000 2007 320,000 2012 385,000 2008 330,000 2013 400,000 All dates are inclusive. As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). (b) Book Entry Only SYstem. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository") will act as securities depository for the Bonds, and to this end: . (i) The Bonds shall be initially issued and, so long as they remain in book entry form only (the "Book Entry Only Period"), shall at all times be in the form of a separate single fully registered Bond for each maturity of the Bonds; and for purposes of complying with this requirement under paragraphs 5 and 10 Authorized Denominations for any Bond shall be deemed to be limited during the Book Entry Only Period to the outstanding principal amount of that Bond. (ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond register maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE & CO., as the nominee (it or any nominee of the existing or a successor Depository, the "Nominee"). . (iii) With respect to the Bonds neither the City nor the Bond Registrar shall have any responsibility or obligation to any broker, dealer, bank, or any other financial institution for which the Depository holds Bonds as securities depository (the "Participant") or the person for which a Participant holds an interest in the Bonds shown on the books and records of the Participant (the "Beneficial Owner"). Without limiting the immediately preceding sentence, neither the City, nor the Bond Registrar, shall have any such responsibility or obligation with respect to (A) the accuracy of the records of the Depository, the Nominee or any Participant with respect to any ownership interest in the Bonds, or (B) the delivery to any Participant, any Owner or any other person, other than the Depository, of any notice with respect to the Bonds, including any notice of redemption, or (C) the payment to any Participant, any Beneficial Owner or any other person, other than the Depository, of any amount with respect to the principal of or premium, if any, or interest on the Bonds, or (D) the consent given 1500036vl 3 1500036vl or other action taken by the Depository as the Register Holder of any Bonds (the . "Holder"). For purposes of securing the vote or consent of any Holder under this Resolution, the City may, however, rely upon an omnibus proxy under which the Depository assigns its consenting or voting rights to certain Participants to whose accounts the Bonds are credited on the record date identified in a listing attached to the omnibus proxy. (iv) The City and the Bond Registrar may treat as and deem the Depository to be the absolute owner of the Bonds for the purpose of payment of the principal of and premium, if any, and interest on the Bonds, for the purpose of giving notice of redemption and other matters with respect to the Bonds, for the purpose of obtaining any consent or other action to be taken by Holders for the purpose of registering transfers with respect to such Bonds, and for all purpose whatsoever. The Bond Registrar, as paying agent hereunder, shall pay all principal of and premium, if any, and interest on the Bonds only to or upon the Holder of the Holders of the Bonds as shown on the bond register, and all such payments shall be valid and effective to fully satisfy and discharge the City's obligations with respect to the principal of and premium, if any, and interest on the Bonds to the extent of the sum or sums so paid. (v) Upon delivery by the Depository to the Bond Registrar of written notice to the effect that the Depository has determined to substitute a new Nomine.e in place of the existing Nominee, and subject to the transfer provisions in paragraph 10 hereof, references to the Nominee hereunder shall refer to such . new Nominee. (vi) So long as any Bond is registered in the name of a Nominee, all payments with respect to the principal of and premium, if any, and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, by the Bond Registrar or City, as the case may be, to the Depository as provided in the Letter of Representations to the Depository required by the Depository as a condition to its acting as book-entry Depository for the Bonds (said Letter of Representations, together with any replacement thereof or amendment or substitute thereto, including any standard procedures or policies referenced therein or applicable thereto respecting the procedures and other matters relating to the Depository's role as book-entry Depository for the Bonds, collectively hereinafter referred to as the "Letter of Representations"). (vii) All transfers of beneficial ownership interests in each Bond issued in book-entry form shall be limited in principal amount to Authorized Denominations and shall be effected by procedures by the Depository with the Participants for recording and transferring the ownership of beneficial interests in such Bonds. (viii) In connection with any notice or other communication to be provided to the Holders pursuant to this Resolution by the City or Bond Registrar . with respect to any consent or other action to be taken by Holders, the Depository 4 . shall consider the date of receipt of notice requesting such consent or other action as the record date for such consent or other action; provided, that the City or the Bond Registrar may establish a special record date for such consent or other action. The City or the Bond Registrar shall, to the extent possible, give the Depository notice of such special record date not less than 15 calendar days in advance of such special record date to the extent possible. (ix) Any successor Bond Registrar in its written acceptance of its duties under this Resolution and any paying agencylbond registrar agreement, shall agree to take any actions necessary from time to time to comply with the requirements of the Letter of Representations. (c) Termination of Book-Entrv Only System. Discontinuance of a particular Depository's services and termination ofthe book-entry only system may be effected as follows: (i) The Depository may determine to discontinue providing its services with respect to the Bonds at any time by giving written notice to the City and discharging its responsibilities with respect thereto under applicable law. The City may terminate the services of the Depository with respect to the Bond if it determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book-entry transfers through the Depository is not in the best interests of the City or the Beneficial Owners. . (ii) Upon termination of the services of the Depository as provided in the preceding paragraph, and if no substitute securities depository is willing to undertake the functions ofthe Depository hereunder can be found which, in the opinion of the City, is willing and able to assume such functions upon reasonable or customary terms, or if the City determines that it is in the best interests of the City or the Beneficial Owners of the Bond that the Beneficial Owners be able to obtain certificates for the Bonds, the Bonds shall no longer be registered as being registered in the bond register in the name of the Nominee, but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with paragraph 11 hereof. To the extent that the Beneficial Owners are designated as the transferee by the Holders, in accordance with paragraph 10 hereof, the Bonds will be delivered to the Beneficial Owners. (iii) Nothing in this subparagraph (d) shall limit or restrict the provisions of paragraph 10 hereof. (d) Letter of Representation. The provisions in the Letter of Representations are incorporated herein by referenced and made a part of the resolution, and if and to the extent any such provisions are inconsistent with the other provisions of this resolution, the provisions in the Letter of Representations shall control. . 3. Puroose. Tne Bonds (together with other available funds, if any, appropriated in paragraph 15 hereof) shall provide funds to finance the Refunding. It is hereby found, determined and declared that the Refunding is pursuant to Minnesota Statutes, Section 475.67. 1500036vl 5 4. Interest. The Bonds shall bear interest payable semiannually on February 1 and August 1 of each year (each, an "Interest Payment Date"), commencing August 1, 2003, calculated on the basis of a 360-day year of twelve 30-day months, at the respective rates per annum set forth opposite the maturity years as follows: . Maturity Interest Maturity Interest Year Rate Year Rate 2004 % 2009 % 2005 2010 2006 2011 2007 2012 2008 2013 5. Redemption. All Bonds maturing in the years 2012 to 2013, both inclusive, shall be subject to redemption and prepayment at the option of the City on February 1, 2011, and on 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 the 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. Bonds or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of redemption shall be given to the paying agent and to each affected registered holder of the Bonds. . To effect a partial redemption of Bonds having a common maturity date, the Bond Registrar prior to giving notice of redemption shall assign to each Bond having a common maturity date a distinctive number for each $5,000 of the principal amount of such Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers so assigned to such Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, that only so much of the principal amount of each such Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the City or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the City and Bond Registrar duly executed by the holder thereof or his, her or its attorney duly authorized in writing) and the City shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds ofthe same series having the same stated maturity and interest rate and of any Authorized Denomination or Denominations, as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. 6. Bond Registrar. U.S. Bank National Association, in St. Paul, Minnesota, is appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond Registrar"), and shall do so unless and until a successor Bond Registrar is duly appointed, all . pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. 1500036vl 6 . . . The Bond Registrar shall also serve as paying agent unless and until a successor paying agent is duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 13 of this resolution. 7. Form of Bond. The Bonds, together with the Bond Registrar's Certificate of Authentication, the form of Assignment and the registration information thereon, shall be in substantially the following form: 1500036vl 7 UNITED STATES OF AMERICA STATE OF MINNESOTA WASHINGTON COUNTY CITY OF STILLWATER . R-l $ GENERAL OBUGA nON TAX INCREMENT REFUNDING BOND, SERIES 2003B INTEREST RATE MATURITY DATE DATE OF ORIGINAL ISSUE CUSIP % FEBRUARY, 20_ APRIL 1, 2003 REGISTERED OWNER: PRINCIP AL AMOUNT: CEDE & Co. DOLLARS KNOW ALL PERSONS BY THESE PRESENTS that the City of Stillwater, Washington County, Minnesota (the "Issuer"), certifies that it is indebted and for value received promises to pay to the registered owner specified above, or registered assigns, unless called for . earlier redemption, in the manner hereinafter set forth, the principal amount specified aboye, on the maturity date specified above, and to pay interest thereon semiannually on February 1 and August 1 of each year (each an "Interest Payment Date"), commencing August 1, 2003, at the rate per annum specified above (calculated on the basis of a 360-day year of twelve 30-day months) until the principal sum is paid or has been provided for. This Bond will bear interest from the most recent Interest Payment Date to which interest has been paid or, if no interest has been paid, from the date of original issue hereof. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of U.S. Bank National Association, in St. Paul, Minnesota (the "Bond Registrar"), acting as paying agent, or any successor paying agent duly appointed by the Issuer. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the person in whose name this Bond is registered (the "Holder" or "Bondholder") on the registration books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth day ofthe calendar month next preceding such Interest Payment Date (the "Regular Record Date"). Any interest not so timely paid shall cease to be payable to the person who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who is the Holder hereof atthe close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice ofthe Special Record Date shall be given to Bondholders not less than ten days prior to the Special Record Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America. [So long as this Bond is registered in the name of the Depository or its Nominee as provided in the Resolution hereinafter described, and as those . terms are defined therein, payment of principal of, premium, if any, and interest on this 1500036vl 8 . . . Bond and notice with respect thereto shall be made as provided in the Letter of Representations, as defined in the Resolution. Until termination of the book-entry only system pursuant to the Resolution, Bonds may only be registered in the name of the Depository or its Nominee.]' REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH HERE. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota and the Charter of the Issuer to be done, to happen and to be performed, precedent to and in the issuance of this Bond, have been done, have happened and have been performed, in regular and due form, time and manner as required by law, and that this Bond, together with all other debts of the Issuer outstanding on the date of original issue hereof and the date of its issuance and delivery to the original purchaser, does not exceed any constitutional, statutory or charter limitation of indebtedness. IN WITNESS WHEREOF, the City of Stillwater, Washington County, Minnesota, by its City Council has caused this Bond to be executed on its behalf by the facsimile signatures of its Mayor and its City Clerk, the corporate seal of the Issuer having been intentionally omitted as permitted by law. * Include only until termination of the book-entry only system under paragraph 2 hereof. 1500036vl 9 Date of Registration: Registrable by: U.S. BANK NATIONAL ASSOCIA TION . BOND REGISTRAR'S CERTIFICA TE OF AUTHENTICA TION Payable at: U.S. BANK NATIONAL ASSOCIATION This Bond is one of the Bonds described in the Resolution mentioned within. CITY OF STILLWATER, WASHINGTON COUNTY, MINNESOTA U.S. BANK NATIONAL ASSOCIATION St. Paul, Minnesota Bond Registrar Isl Facsimile Mayor By Authorized Signature Isl Facsimile City Clerk . . 1500036vl 10 ~ . . . ON REVERSE OF BOND Redemption. All Bonds of this issue (the "Bonds") maturing in the years 2012 to 2013, both inclusive, are subject to redemption and prepayment at the option of the Issuer on February 1,2011 and on 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 the principal amounts within each maturity to be redeemed shall be determined by the Issuer; 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. Bonds or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of redemption shall be given to the paying agent and to each affected Holder of the Bonds. Selection of Bonds for Redemption: Partial Redemotion. To effect a partial redemption of Bonds having a common maturity date, the Bond Registrar shall assign to each Bond having a common maturity date a distinctive number for each $5,000 of the principal amount of such Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers assigned to the Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, that only so much of the principal amount of such Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the Issuer or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the Issuer and Bond Registrar duly executed by the Holder thereof or his, her or its attorney duly authorized in writing) and the Issuer shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of the same series having the same stated maturity and interest rate and of any Authorized Denomination or Denominations, as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. Issuance: Purpose: General Obligation. This Bond is one of an issue in the total principal amount of $3,450,000, all oflike date of original issue and tenor, except as to number, maturity, interest rate and denomination, which Bond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and the Charter of the Issuer and pursuant to a resolution adopted by the City Council of the Issuer on March 4, 2003 (the "Resolution"), for the purpose of providing funds to redeem on May 1, 2003, all of the outstanding General Obligation Tax Increment Bonds, Series 1994C, dated July 1, 1994 of the Issuer. This Bond is payable out of the General Obligation Tax Increment Refunding Bonds, Series 2003B Fund of the Issuer. This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any, and interest when the same become due, the full faith and credit and taxing powers of the Issuer have been and are hereby irrevocably pledged. Denominations: Exchange: Resolution. The Bonds are issuable solely as fully registered bonds in Authorized Denominations (as defined in the Resolution) and are 1500036vl 11 " exchangeable for fully registered Bonds of other Authorized Denominations in equal aggregate . principal amounts at the principal office of the Bond Registrar, but only in the manner and subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file in the principal office of the Bond Registrar. Transfer. This Bond is transferable by the Holder in person or by his, her or its attorney duly authorized in writing at the principal office of the Bond Registrar upon presentation and surrender hereof to the Bond Registrar, all subject to the terms and conditions provided in the Resolution and to reasonable regulations of the Issuer contained in any agreement with the Bond Registrar. Thereupon the Issuer shall execute and the Bond Registrar shall authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the name of the transferee (but not registered in blank or to "bearer" or similar designation), of an Authorized Denomination or Denominations, in aggregate principal amount equal to the principal amount of this Bond, of the same maturity and bearing interest at the same rate. Fees upon Transfer or Loss. The Bond Registrar may require payment ofa sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of this Bond and any legal or unusual costs regarding transfers and lost Bonds. Treatment of Registered Owners. The Issuer and Bond Registrar may treat the person in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided (except as otherwise provided on the reverse side hereof with respect to the Record Date) and for all other purposes, whether or not this Bond shall be overdue, and . neither the Issuer nor the Bond Registrar shall be affected by notice to the contrary. Authentication. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security unless the Certificate of Authentication hereon shall have been executed by the Bond Registrar. Oualified Tax-Exempt Obligation. This Bond has been designated by the Issuer as a "qualified tax-exempt obligation" for purposes of Section 265(b)(3) ofthe Internal Revenue Code of 1986, as amended. . 1500036vl 12 . . . ABBREVIA nONS The following abbreviations, when used in the inscription on the face of this Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right of survivorship and not as tenants in common UTMA - as custodian for (Cust) under the (Minor) Uniform (State) Transfers to Minors Act Additional abbreviations may also be used though not in the above list. 1500036vl 13 ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto the within Bond and does hereby irrevocably constitute and appoint attorney to transfer the Bond on the books kept for the registration thereof, with full power of substitution in the premises. Dated: Notice: The assignor's signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or any change whatever. Signature Guaranteed: Signature(s) must be guaranteed by a national bank or trust company or by a brokerage firm having a membership in one of the major stock exchanges or any other "Eligible Guarantor Institution" as defined in 17 CFR 240.17Ad-15(a)(2). The Bond Registrar will not effect transfer of this Bond unless the information concerning the transferee requested below is provided. Name and Address: (Include information for all joint owners if the Bond is held by joint account.) 1500036vl 14 ~ . . . . . . 1500036vl PREPAYMENT SCHEDULE This Bond has been prepaid in part on the date(s} and in the amount(s) as follows: DATE AMOUNT 15 AUTHORIZED SIGNA TURE OF HOLDER 8. Execution: Temporary Bonds. The Bonds shall be printed (or, at the request of the Purchaser, typewritten) and shall be executed on behalf of the City by the . signatures of its Mayor and City Clerk and be sealed with the seal of the City; provided, however, that the seal of the City may be a printed (or, at the request of the Purchaser, photocopied) facsimile; and provided further that both of such signatures may be printed (or, at the request of the Purchaser, photocopied) facsimiles and the corporate seal may be omitted on the Bonds as permitted by law. In the event of disability or resignation or other absence of either such officer, the Bonds may be signed by the manual or facsimile signature ofthat officer who may act on behalf of such absent or disabled officer. In case either such officer whose signature or facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, such signature or facsimile shall nevertheless be yalid and sufficient for all purposes, the same as ifhe or she had remained in office until delivery. The City may elect to deliver, in lieu of printed definitive bonds, one or more typewritten temporary bonds in substantially the form set forth above, with such changes as may be necessary to reflect more than one maturity in a single temporary bond. Such temporary bonds may be executed with photocopied facsimile signatures of the Mayor and Clerk. Such temporary bonds shall, upon the printing of the definitive bonds and the execution thereof, be exchanged therefor and canceled. 9. Authentication. No Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this resolution unless a Certificate of Authentication on such Bond, substantially in the form hereinabove set forth, shall have been duly executed by an authorized representative of the Bond Registrar. Certificates of Authentication on different Bonds need not be signed by the same person. The Bond Registrar shall authenticate the signatures of officers of the City on each Bond by execution of the Certificate of Authentication . on the Bond and by inserting as the date of registration in the space provided the date on which the Bond is authenticated, except that for purposes of delivering the original Bonds to the Purchaser, the Bond Registrar shall insert as a date of registration the date of original issue, which date is April 1, 2003. The Certificate of Authentication so executed on each Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. 10. Registration: Transfer: Exchange. The City will cause to be kept at the principal office of the Bond Registrar a bond register in which, subject to such reasonable regulations as the Bond Registrar may prescribe, the Bond Registrar shall provide for the registration of Bonds and the registration oftransfers of Bonds entitled to be registered or transferred as herein provided. Upon surrender for transfer of any Bond at the principal office of the Bond Registrar, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration (as provided in paragraph 10) of, and deliver, in the name of the designated transferee or transferees, one or more new Bonds of any Authorized Denomination or Denominations of a like aggregate principal amount, having the same stated maturity and interest rate, as requested by the transferor; provided, however, that no Bond may be registered in blank or in the name of "bearer" or similar designation. At the option of the Holder, Bonds may be exchanged for Bonds of any Authorized Denomination or Denominations of a like aggregate principal amount and stated maturity, upon surrender of the Bonds to be exchanged at the principal office of the Bond . 1500036vl 16 . Registrar. Whenever any Bonds are so surrendered for exchange, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration of, and deliver the Bonds which the Holder making the exchange is entitled to receive. All Bonds surrendered upon any exchange or transfer provided for in this resolution shall be promptly cancelled by the Bond Registrar and thereafter disposed of as directed by the City. All Bonds delivered in exchange for or upon transfer of Bonds shall be valid general obligations of the City evidencing the same debt, and entitled to the same benefits under this resolution, as the Bonds surrendered for such exchange or transfer. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the Bond Registrar, duly executed by the Holder thereof or his, her or its attorney duly authorized in writing. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of any Bond and any legal or unusual costs regarding transfers and lost Bonds. . Transfers shall also be subject to reasonable regulations ofthe City contained in any agreement with the Bond Registrar, including regulations which permit the Bond Registrar to close its transfer books between record dates and payment dates. The Clerk is hereby authorized to negotiate and execute the terms of said agreement. 11. Rights Upon Transfer or Exchange. Each Bond delivered upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond. 12. Interest Pavrnent: Record Date. Interest on any Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond is registered (the "Holder") on the registration books of the City maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth (15th) day ofthe calendar month next preceding such Interest Payment Date (the "Regular Record Date"). Any such interest not so timely paid shall cease to be payable to the person who is the Holder thereof as of the Regular Record Date, and shall be payable to the person who is the Holder thereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice ofthe Special Record Date shall be given by the Bond Registrar to the Holders not less than ten (1 0) days prior to the Special Record Date. . 13. Treatment of Registered Owner. The City and Bond Registrar may treat the person in whose name any Bond is registered as the owner of such Bond for the purpose of receiving payment of principal of and premium, if any, and interest (subject to the payment provisions in paragraph 13 above) on, such Bond and for all other purposes whatsoever whether or not such Bond shall be overdue, and neither the City nor the Bond Registrar shall be affected by notice to the contrary. 1500036vl 17 ~ 14. Deliverv: Application of Proceeds. The Bonds when so prepared and . executed shall be delivered by the Administrator to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obliged to see to the proper application thereof. 15. Fund and Accounts. A. $ of the proceeds of the Bonds shall be deposited in the Bond Fund of the General Obligation Tax Increment Bonds, Series 1994C Fund (the "Payment Account") heretofore created by the Prior Tax Increment Resolution for the Prior Tax Increment Bonds, which amount, together with all other funds held therein and $ of the City deposited at bond closing for the Bonds, is sufficient to pay the outstanding Prior Tax Increment Bonds on May 1, 2003. B. There is hereby created a special fund to be designated the "General Obligation Tax Increment Refunding Bonds, Series 2003BFund" (the "Fund") to be administered and maintained by the Administrator as a bookkeeping account separate and apart from all other funds maintained in the official financial records of the City. The Fund shall be maintained in the manner herein specified until all of the Bonds and the interest thereon have been fully paid. There shall be maintained in the Fund two (2) separate accounts, to be designated the "Cost ofIssuance Account" and "Debt Service Account," respectively. (i) Cost of Issuance Account. There shall be deposited in the Cost of Issuance Account all of the remaining proceeds of the Bonds not otherwise deposited in the Payment Account as provided above, less accrued interest received thereon and less any amount paid for . the Bonds in excess of$3,420,675. Monies in the Cost ofIssuance Account shall be used to pay the costs of issuing the Bonds. Any monies remaining in the Cost of Issuance Account after all costs of issuance have been paid or provided for shall be transferred to the Debt Service Account for the Bonds. (ii) Debt Service Account. There is hereby created a Debt Service Account and there is hereby irrevocably appropriated and pledged thereto: (a) Tax Increments not otherwise pledged and applied to the payment of other obligations of the City in an amount sufficient, together with other sums herein pledged, to pay the annual principal and interest payments on the Bonds; (b) all accrued interest received upon delivery of the Bonds; (c). any amount paid for the Bonds in excess of $3,420,675; (d) any collections of all taxes which may hereafter be levied in the eyent that the Tax Increments and other funds herein pledged to the payment ofthe principal and interest on the Bonds are insufficient therefore; (e) all funds remaining in the Cost of Issuance Account after the costs of issuance have been paid; (f) all investment earnings on funds held in the Debt Service Account; and (g) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Debt Service Account. The Debt Service Account shall be used solely to pay the principal and interest and any premiums for redemption of the Bonds and any other general obligation bonds of the City hereafter issued by the City and made payable from said account as provided by law. No portion ofthe proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire . higher yielding investments, except (1) for a reasonable temporary period until such proceeds are 1500036vl 18 . . . needed for the purpose for which the Bonds were issued and (2) in addition to the above in an amount not greater than the lesser of five percent (5%) of the proceeds of the Bonds or $100,000. To this effect, any proceeds of the Bonds and any sums from time to time held in the Cost of Issuance Account or Debt Service Account (or any other City account which will be used to pay principal or interest to become due on the bonds payable therefrom) in excess of amounts which under then-applicable federal arbitrage regulations may be invested without regard to yield shall not be invested at a yield in excess of the applicable yield restrictions imposed by said arbitrage regulations on such investments after taking into account any applicable "temporary periods" or "minor portion" made available under the federal arbitrage regulations. Money in the Fund shall not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section I 49(b ) of the Internal Revenue Code of 1986, as amended (the "Code"). 16. Covenants Relating to the Bonds. A. Tax Increments. The City hereby pledges and appropriates the Tax Increments derived from the Tax Increment District to the Debt Service Account, which pledge and appropriation shall continue until all of the Bonds, and any additional bonds payable from the Debt Service Account, are paid or discharged. B. Reservation of Rights. Notwithstanding any provisions herein to the contrary, the City reserves the right to terminate, reduce, or apply to other lawful purposes the Tax Increments herein pledged to the payment of the Bonds and interest thereon to the extent and in the manner permitted by law. C. Future Tax Levies. On or before October 10 of each year, the Administrator shall calculate the amount of Tax Increments and any other funds appropriated to and then held in the Debt Service Account and the estimated collections of Tax Increments to be received in the next succeeding year. In the event that it is anticipated that the aggregate of said sums will not be sufficient to pay the principal and interest on the Bonds to become due in the first calendar year thereafter and the first six (6) months ofthe succeeding calendar year, the City Council shall pass a resolution requesting the County Auditor of Washington County to levy an ad valorem tax in an amount as is necessary, together with the aforementioned funds then held in the Debt Service Account and said estimated collections of Tax Increments, to pay the principal and interest on the Bonds to become due during said period. D. Coveral!e Test. The Tax Increments are such that if collected in full they, together with estimated collections of other revenues herein pledged for the payment of the Bonds, will produce at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. 17. Defeasance. When all Bonds have been discharged as provided in this paragraph, all pledges, covenants and other rights granted by this resolution to the registered holders of the Bonds shall, to the extent permitted by law, cease. The City may discharge its obligations with respect to any Bonds which are due on any date by irrevocably depositing with the Bond Registrar on or before that date a sum sufficient for the payment thereof in full; or if 1500036vl 19 any Bond should not be paid when due, it may nevertheless be discharged by depositing with the . Bond Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. The City may also at any time discharge its obligations with respect to any Bonds, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a suitable banking institution qualified by law as an escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, Subdivision 8, bearing interest payable at such times and at such rates and maturing on such dates as shall be required, without regard to sale andlor reinvestment, to pay all amounts to become due thereon to maturity. 18. Continuing Disclosure. The City is the sole obligated person with respeCt to the Bonds. The City hereby agrees, in accordance with the provisions of Rule 15c2-12 (the "Rule"), promulgated by the Securities and Exchange Commission (the "Commission") pursuant to the Securities Exchange Act of 1934, as amended, and a Continuing Disclosure Undertaking (the "Undertaking") hereinafter described to: A. Provide or cause to be provided to each nationally recognized municipal securities information repository ("NRMSIR") and to the appropriate state information depository ("SID"), if any, for the State of Minnesota, in each case as designated by the Commission in accordance with the Rule, certain annual financial information and operating data in accordance with the Undertaking. The City reserves the right to modify from time to time the terms of the Undertaking as provided therein. B. Provide or cause to be provided, in a timely manner, to (i) each NRMSIR . or to the Municipal Securities Rulemaking Board ("MSRB") and (ii) the SID, notice of the occurrence of certain material events with respect to the Bonds in accordance with the Undertaking. C. Provide or cause to be provided, in a timely manner, to (i) each NRMSIR or to the MSRB and (ii) the SID, notice of a failure by the City to provide the annual financial information with respect to the City described in the Undertaking. D. The City agrees that its covenants pursuant to the Rule set forth in this paragraph and in the Undertaking is intended to be for the benefit of the Holders of the Bonds and shall be enforceable on behalf of such Holders; provided that the right to enforce the provisions of these covenants shall be limited to a right to obtain specific enforcement of the City's obligations under the covenants. The Mayor and City Clerk of the City, or any otherofficer of the City authorized to act in their place with "Officers" are hereby authorized and directed to execute on behalf ofthe City the Undertaking in substantially the form presented to the City Council subject to such modifications thereof or additions thereto as are (i) consistent with the requirements under the Rule, (ii) required by the Purchaser ofthe Bonds, and (iii) acceptable to the Officers. 19. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Bonds, as the same respectively become due, the full faith, credit . and taxing powers of the City shall be and are irrevocably pledged. If the balance in the Debt 1500036vl 20 . Service Account is ever insufficient to pay all principal and interest then due on the Bonds payable therefrom, the deficiency shall be promptly paid out of any other accounts of the City which are available for such purpose, and such other funds may be reimbursed without interest from the Debt Service Account when a sufficient balance is available therein. 20. Certificate of Registration. The Clerk is hereby directed to file a certified copy ofthis resolution with the County Auditor of Washington County, Minnesota, together with such other information as he or she shall require, and to obtain the County Auditor's certificate that the Bonds have been entered in the County Auditor's Bond Register. 21. Records and Certificates. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser, and to the attorneys approving the legality of the issuance of the Bonds, certified copies of all proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. . 22. Negative Covenant as to Use of Proceeds and Proiect. The City hereby covenants not to use the proceeds of the Bonds or to use the Project, or to cause or permit them to be used, or to enter into any deferred payment arrangements for the cost of the Project, in such a manner as to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code. 23. Prior Bonds: Security. Until retirement ofthePrior Bonds, all provisions theretofore made for the security thereof shall be observed by the City and all of its officers and agents. 24. Tax-Exempt Status of the Bonds: Rebate. The City shall comply with requirements necessary under Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Bonds, including without limitation (1) requirements relating to temporary periods for investments, (2) limitations on amounts invested at a yield greater than the yield on the Bonds, and (3) the rebate of excess investment earnings to the United States. The City expects to satisfy the six month expenditure exemption from gross proceeds ofthe bonds as provided in Section 1.148-7(c) ofthe Regulations. The Mayor and or Administrator, are hereby authorized and directed to make such elections as to arbitrage and rebate matters relating to the Bonds as they deem necessary, appropriate or desirable in connection with the Bonds, and all such elections shall be, and shall be deemed and treated as, elections ofthe City. . 25. Designation ofOualified Tax-Exemot Obligations: Issuance Limit. In order to qualify the Bonds as "qualified tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code, the City hereby makes the following factual statements and representations: 1500036vl 21 (a) the Bonds are issued after August 7, 1986; . (b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; (c) the City hereby designates the Bonds as "qualified tax-exempt obligations" for purposes of Section 265(b )(3) of the Code; (d) the reasonably anticipated amount of tax,..exempt obligations (other than private activity bonds, treating qualified 501 (c )(3) bonds as not being private activity bonds) which will be issued by the City (and all entities treated as one issuer with the City, and all subordinate entities whose obligations are treated as issued by the City) during this calendar year 2003 will not exceed $10,000,000; (e) not more than $10,000,000 of obligations issued by the City during this calendar year 2003 have been designated for purposes of Section 265(b )(3) of the Code; (f) the aggregate face amount of the Bonds does not exceed $10,000,000; and (g) the Bonds are issued to refund, and not to "advance refund" the Prior Bonds within the meaning of Section 1 49(d)( 5) of the Code, and shall not be taken into account under the $10,000,000 issuance limit to the extent the Bonds . do not exceed the outstanding amount of the Prior Bonds. The City shall use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designation made by this paragraph. 26. Severability. If any section, paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. 27. Headings. Headings in this resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing resolution was duly seconded by member and, after a full discussion thereof and upon a yote being taken thereon, the following voted in fayor thereof: and the following voted against the same: . 1500036vl 22 . . . Whereupon said resolution was declared duly passed and adopted. Adopted this 4th day of March, 2003. Attest: City Clerk 1500036vl Approved: 23 Mayor STATE OF MINNESOTA COUNTY OF WASHINGTON CITY OF STILLWATER I, the undersigned, being the duly qualified and acting City Clerk of the City of Stillwater, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council of said City, duly called and held on the date therein indicated, insofar as such minutes relate to authorizing the issuance of, and awarding the competitive negotiated sale of, $3,450,000 General Obligation Tax Increment Refunding Bonds, Series 2003B of said City. WITNESS my hand this 4th day of March, 2003. City Clerk 1500036vl 24 ';.. . . . . . . EXHIBIT A NOTICE OF CALL FOR REDEMPTION GENERAL OBLIGATION TAX INCREMENT BOND, SERIES 1994C CITY OF STILLWATER, WASHINGTON COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that by order of the City Council of the City of Stillwater, Washington County, Minnesota, there have been called for redemption and prepayment on May 1, 2003 those outstanding bonds of the City designated General Obligation Tax Increment Bond, Series 1994C, dated July 1, 1994, having stated maturity dates in the years 2004 through 2013, inclusive, and totaling $3,345,000 in principal amount. The bonds are being called at a price of par and accrued interest to May 1, 2003, on which date interest will cease to accrue. Holders of the bonds hereby called for redemption are requested to present their bonds for payment, at U.S. Bank National Association (successor to American National Bank and Trust Company), Attention: Paying Agent Services, 180 East Fifth Street, St. Paul, Minnesota 55101. Dated: March 4, 2003. BY ORDER OF THE CITY COUNCIL Isl City Clerk Important Notice: Under the Interest and Diyidend Compliance Act of 1983 31 % will be withheld if tax identification number is not properly certified. 1500036vl . . . MEMORANDUM TO: Mayor and City Council Shawn Sanders, Assistant City Engineer'l1S7 February 25, 2003 FROM: DATE: RE: Feasibility Study for 2002 Street Improvement Project Project No. 2003-03 INTRODUCTIO~ In keeping with the 2001 Pavement Management S~dy, it is proposed that the folloWing streets be improved as part of the 2003 Street Improvement Project: Holcombe Street- Hancock Street to Olive Street Willard Street - Greeley Street to Holcombe Street Harriet Street- Willard Street north Everett Street - Willard to Abbot Martha Street- Willard to Abbot Walnut Street- Third Street to Fifth Street Hickory Street-Owens Street west. All of these streets, with the exception of Hickory Street were given a rating of rated poor or worst, according to the pavement management study and warrant a street i1Up~ovement at this time. The residents of Hickory Street approached the City for improvements on their street. DISCUSSION: Street Reconstruction For the most part streets in the project area are in very poor condition and have far exceeded their service life. Most streets have little or no curb and gutter with some limestone curb on Harriet Street North of Churchill Street. The streets vary in width from 21 feet wide on Everett Street to 32 feet on Willard Street. Storm sewer exists in the neighborhood but the catch basin inlets are in poor condition and should be replaced at the same time road improvements are made. Within the Project area there is app~vximately 1.2 miles of street reconstruction. Ris proposed to construct new streets at a 28-foot width with curb and gutter. Holcombe between Hancock and Churchill and Walnut between Third Street and Fourth Street would be constructed at a 32-foot wide street with concrete curb and gutter. In an investigation of the sub-grade material, the soils appear to be of a gravel-sand content and was recommended that eight-inches of aggregate be installed. All storm sewer inlets will be replaced, and new storm sewer added in placing where water flows across an intersection. In addition to the street work all brick ~'" sanitary manholes will be relined with three inches of concrete to restore the structural integrity of the manhole. Sidewalks Holcombe Street and Harriet Street north of Pine Street and Walnut Street from Third to Fourth Street are the only streets that have existing sidewalks in the project area. As part of the project, new sidewalks would be installed on the both sides of Holcombe from Hancock to Churchill Street, the west side of Holcombe from Churchill to Pine and along the north side of Willard Street from Greeley to Holcombe. (Construction of the // ,/ / trail along Holcombe Street was given highest priority for iUlplu\-'ement according to the City CUUlplehensive Trail Plan.) Sidewalks on Harriet and Walnut are not to City standard of five-foot width and would be replaced regardless of its condition. The sidewalk on Holcombe Street, north of Pine would be replaced, . according to the same criteria used in our sidewalk rehabilitation. Sa~tary Sewer The existing sanitary sewer on Harriet Street north of Pine Street is such where there are two sewer pipes serving the seven properties. There is a six-inch pipe serving two piUperties and a four-inch pipe serving four properties. The four-inch line was installed over 100 years ago to serve the homes, but more or less acts as a private line. Since there is no available access to the four-inch sewer, the sewer department is unable to . perform any type of maintenance or repairs. In fact, they have been called a couple of times over the last two years to fix sewer backups but were unable to assist to accommodate the property owner. As part ofthis project, it is piUposed to install a bigger diameter sewer pipe with sewer service connections to serve the four properties on Harriet. Water Service Replacement Within the project area there are 33 properties with galvanized pipe for their water service; 24 properties have a separate service from the water main and nine properties are served from a two-inch service located in the backyard between Everett and Martha, south of Willard. Seventy to eighty years ago galvanized pipe was a common material used for the installation of water services. In many instances the pipe has exceeded its service life, the inside has filled with deposits of rust and silt, joints tend to pull apart and there is cracking in the pipe. All these factors may result in a leak that could cost the homeowner several thousand dollars to repair. Since the street is being reconstructed with a new pavement section the galvanized services should be replaced with a new copper service to prevent the new street from being disturbed. It is proposed to remove the existing galvanized water service, install a new copper service and curb stop box, and reconnect to the . . existing service and to the water main. The residents are given the option to hire their own contractor to replace the water service. On previous projects, the contractor has replaced the entire length of pipe from the water main to the house. This work must be completed prior to the City' s contractor beginning his work on the project. West Hickory Street Hickory Street west of Owens Street in its current state is 620-foot gravel road with no outlet. The street varies in width from 14 feet to 20 feet. There is a couple of storm sewer catch basins at mid-block arid at the end of the street. Last spring, a property owner on Hickory Street approached the City about the possibility of improving the street with a bituminous overlay. An explanation was given to the property owner regarding costs and the process necessary to follow to proceed with the project. A few weeks later, the City received from all the affected property owners, Agreements of Assessment and Waiver of Notice, Hearing and Appeal. As part of the 2003 Street 1Upluvement Project, it is proposed to include all work associated to cUUlplete a bituminous overlay to West Hickory Street. Work would consist of adding four inches of aggregate to stabilize the existing gravel road, install four inches of bituminous in two lifts, and make improvements to the existing storm sewer. Water Main ;""f;"~ At present there is no existing water main on Hickory Street. Four properties access their water service from Maple Street. If any of these service pipes were to fail and need to be replaced, costs to the property owner . could be extremely high because of the length of the service and the cooperation of the adjacent property . where the service runs through. Since Hickory Street would be paved as part of this project, now would be an opportune time to install a new water main with 4 service stubs to serve these four homes. . . . PROJECT COSTS The total cost of the project is $1,087,555.45, which includes engineering, administration, and contingencies. A breakdown of each cost shown below: Reconstruct new streets (including storm sewer and sanitary sewer) Install new and repair existing sidewalks Install new sanitary sewer on Harriet Replace galvanized water services Bituminous Overlay (Hickory Street) 6" Water main (Hickory Street) $855,383.47 $128,850.75 $11,150.00 $54,562.50 $17,608.73 $20,000.00 PROJECT FUNDING The project would be funded through the City's Capital Improvement Fund, Property assessments, the storm water utility fund, and the Stillwater Water Board. Street Reconstruction It is proposed that 60% of the project costs for street reconstruction be assessed to the property owners and the remaining share be the City's responsibility. Included in the City's share would be $30,000 from the Storm Water Utility Fund. Assessment rates were cvmp..Ited by two methods. The residential properties (99) would be assessed based on the per unit basis and 2 institutional properties (County Courthouse arid St. Paul Lutheran) on the lineal foot method. The unit assessment for the residential properties would amount to $5640.32 per lot. Comerlots would be assessed $2820.16 pc~r side of street improved. The two other properties would be assessed $59.24 per lineal foot of frontage. Sidewalk Improvements For this project it is proposed that the City fund 100% and no properties be assessed for any sidewalk improvements. This has changed from the past where we use to assess 50% of sidewalk costs to the property owners. Harriet Street Sanitary Sewer Improvements to the sanitary main and the sanitary service for the four properties on Harriet Street are proposed to be assessed at 50% for the sanitary sewer main :and 100% for the sanitary service: For the four properties that are affected the assessment is $1850 per lot. . Water Service Replacement Water service repairs are the sole responsibility of the property owner and all costs for replacement is assessed 100% to the property owner. For 24 properties the :assessment would be $1780.31 each. There are two properties who need their service replaced that have more length of service to be replaced than the average of 30 feet. Their assessment would be adjusted to re:flect that additional cost. For the nine properties south of Willard between Everett and Martha who are served from a two-inch service, the assessment would be $315.00 each. ~:ffl(O Hickory Street Overlay Since this street hasn't had any prior improvements, it was explained to the property owners that any improvements would be assesses at 100%. This would amotmt to a cost of $2,438.39 for each of the seven property owners. Hickory Street Water main The estimated cost of the project is $20,000. The Water Board has indicated they will pay the entire costs of . the installation of the water main and the water service. SUMMARY OF ASSESSMENTS . Street Assessment Water Service Replacement Sanitary Sewer Hickory Street $5640.32 per lot (64) $2820.16 halflot (35) $59.24 per foot (2 @ 600 ft) $1780.31 perlot (24) $1850.00 per lot (4) $2438.39 per lot (7) There are no homes that would receive a street, sewer, and water service assessment. So the highest assessment fora residential lot would be $7,490.00. Summary of Funding Sources Property Owner Share City Share Water Board Share TOTAL $574,801.31 $492,754.13 $20,000.00 $1,087,555.44 RECOMMENDATIO~ . Since the project is feasible from an engineering standpoint and the project is cost effective, it is recommended that Council accept the feasibility report for the 2003 Street Improvement Project and order a public hearing to be held on March 18,2003 at 7:00 p.m. ACTION REOUIRED. If Council concurs with the recommendation they should pass a motion adopting Resolution No. 2003- . RESOLUTION RECEIVING REPORT ANI> CALLING HEARING ON 2003 STREET IMPROVEMENT PROJECT, (pROJECT 2003-02). ~:..~, . . . . RESOLUTION RECEIVING REPORT AND CALLING HEARING ON 2003 STREET IMPROVEMENT PROJECT (pROJECT 2003-02) WHEREAS, pursuant to resolution of the council adopted October 15, 2002, a report has been prepared by the City Engineer with reference to the 2003 Street Improyement Project; and WHEREAS, the report provides information regarding whether the proposed project is necessary, cost-effective, and feasible, NOW J.lutREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF STILLWATER, MINNESOTA: 1. The council will consider the improyement of such street improvements in accordance with the report and the assessment of abutting property for a portion of the cost of the improyement pursuant to Minnesota Statutes, Chapter 429 at an estimated total cost of the improyement of$I,087,555.45. 2. A public Hearing shall be held on such proposed improvement on the 18th day of March 2003, at the Stillwater City Hall Council Chambers at 7:00 p.m., or as soon as possible thereafter, and the clerk shall giye mailed and published notice of such hearing and improyement as required by law. Adopted by the City Council of the City of Stillwater this 4th day of March 2003. Jay L. Kimble, Mayor . ATTEST: Diane F. Ward, City Clerk ;;....:,':'~c /" 928 927 I '0>1<<;, \ WI lWl' 916 ~ 917 703 ~I 917 i - I 9051~ ~~"iT , E:'~~ :-:-:-:E:::; ~::8 ~ .... 1~1813l~"" _~ 621 ~ z ~ ~ ~:g ~ l:l 622 :e. ,..., ...... ,..., ,... ,...,... <0 . ~'00' I~ '706 <( en 722 ~ ~~l:l~:e 6' 00704 U ........ ....0>0> II \ WEST MAPLE STREET ~~1~11~1 .I8~918~51618 \ \ ~~I~~~ I~~~~ Engineeringl)eparbnent - HiCK )RY STRE ~ en ..., J on 715 ~ !_~_:.t_ 2003 STREET PKOJECT PROJECT AREA ~ AFFECTED lOTS N PROJECT STREETS -' (~~r~ ~ OLive ~~~ en ~ ~ ~17 a I ~ ~ r.; - 81 808 724 716 70 I '<t 0 0> ~ ~ 616 lS WEST OAK STREET' WEST (305 I ~ 313 :ET )4 Iii I . I en on .... ,..; ......., I- -~ 401492 Q; 10 0 C'I ;: "-" 703Ww 623 10F~ CIO......... II:: - (/) 410 I I 415 1- - 1 4141t;1 413 ~ I 4.1~ 418 I Iii I 419 I 722 718 4~~ : I 417 : ~I :0 4~ 'I ~ ~I ~ . ~ ~ ~ ~ - ~ 620 - 61 ~~ .' CIO co , CIO 1........ ~ tr _ t5 ~ WEST PINE ~ STReET ... 1917 1901 I~ N1 ~ I 6191 10 j:!: 509 ' !J CIO -::> j:!: 180 5 (/) (/) ST 5 ) ..\.. 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Met110randUlll To: Mayor and City Council Klayton Eckles, Director of Public Works ~ From: Date: February 26, 2003 Subject: Storm Water Impact Fees for Annexation Area Lands Benefiting from the Trout Stream Mitigation Project DISCUSSION . Phase 1 of the Annexation Area is essentially complete and Phase 2 is well underway. Recently there has been talk of deye10pment in Phase 3 and also property owners in Phase 4 haye an interest in developing. One concern that the deyelopers have is what are the City's costs are for deyelopment and impact fees. Now that the Trout Stream Mitigation Project is nearing completion we haye a better handle on the total overall costs. The current reyised estimate for completion of the entire Trout Stream Mitigation Project is $5.2 million. This is approximately a million dollars more than the original estimate seven years ago. Some of the additional costs are due to design changes as well as economic factors. The increased cost means that the remaining development within the City will require higher impact fees. Diyiding the remaining $3.4 million of construction costs amongst the 355 acres of residential and 65 acres of commercial will yield an impact fee of $7,1 OOlacre for residential and $14,200/acre for commercial and multifamily. RECOMMENDATION Staff recommends that Council update the Trout Stream Mitigation Project impact fees as follows: $7,1 OOlacre for single family residential and $14,200/acre for commercial and multifamily. Also Staff recommends that Council authorize the annual adjustment of these fees based on construction cost indexes. ACTION REOUIRED If Council concurs with staff recommendation, Council should pass a resolution adopting these fees for all new deyelopment in 2003 and beyond. '. APPROVING STORM WATER IMPACT FEES FOR NEW DEVELOPMENT INnlE ANNEXATION AREA WHEREAS, pursuant to resolution of the council adopted February 2, 1999, storm water trunk charges for the expansion area were deyeloped and WHEREAS, the City Council has determined that the remaining Trout Stream Mitigation Project costs are to be shared among the 355 acres of residential and 65 acres of commercial property through the use of Trunk: Storm Sewer Charges as listed below: Residential Rate: Commerical/Multi-family Rate $7,100.00 per acre $14,200.00 per acre NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STILLWATER, MINNESOTA 1. The Truck Storm Sewer Charges presented are hereby approyed. 2. The Truck Storm Sewer Charges for new development are hereby effective March 4,2003. Adopted by the City Council this 4th day of March 2003. Jay 1. Kimble, Mayor ATTEST: Diane F. Ward, City Clerk . . ;. " . . ~emorandum . -'. To: Mayor and City Council From: Steve Russell, Community Development Director Date: February 28, 2003 Subject: v Contract for Modification to Downtown Pay Parking Signs With the city assuming responsibility for the Downtown Pay Parking Program, new signs will be required. In addition to the new sign faces, the Downtown Parking Commission would like to evaluate and coordinate downtown parking and directional signage in a consistent sign program. City planning and police department staff has met with Mr. Robert Lane to discuss our downtown signage uses and needs. Mr. Lane has previously worked with the Historic Preservation Commission and Downtown Parking Commission members on signage in the downtown. A proposal for sign services will be presented at meeting rime for replacement of parking signs and coordination of downtown signage. The cost for the work can be paid for out of the Downtown Pay Parking Program proceeds. Recommendation Review and approval of contract for services with Lane Design Group. It " '. Memorandum To: From: Date: Subject: Mayor and City Council (L Steve Russell, Community Development Director March 4, 2003 Proposal for downtown Parking Signage and Downtown Way Finding and Public Information Signage Study The council received a staff request introducing this item in your regular meeting agenda packet. Attached to this report is the actual proposals for the Downtown Pay Parking Signage Program and Downtown Way Finding and Public Signage Program. Both projects are a part of the Downtown Pay Parking Program and supported by the Downtown Parking Commission. The costs of the studies can be paid from proceeds from the Downtown Pay Parking Program. Recommendation: Approval of proposals. Attachments: Proposals from Lane Design Group. . -. t. Mr. Steve Russell Community Development Director City of Stillwater 216 N. Fourth St. Stillwater, Minnesota 55082 Lane Design Group, Inc. 135 Lost Lake Court Mahtomedi, MN 55115 651 653-3839 teVfax r1ane@lanedesigngroup.com '. .' March 3,2003 Mr. Russell: Thank you for contacting me regarding the Parking Lot Information and Identification needs in Stillwater and I appreciate the time you and Chief Dauffenbach spent last week to meet and describe these issues in more detail. During our meeting we identified two goals for environmental graphic improvements: 11 There is the need to improve the existing signing related to parking lots by May 1, when the pay parking will go into effect. The machines will be installed and the City will be in charge of the operations. These signs should present clear identification and information to avoid vending confusion and combine a clear recognition but appropriate to the City's historic character. This work will require immediate start-up in order to make the installation date. 2) There is a desire however to make sure that the parking issues addressed and resulting graphics and standards are consistent with a broader pallette of graphics standards for wayfinding and information elements, including trailblazer signs for parking, various identifiers of parks, museums and other points of interest and heritage. This would include the study of vintage theme murals and banners, as well. The goal would be to explore the image opportunities of a cohesive well designed and environ-appropriate presentation of graphics elements within the context of this dynamic and historic retail setting. We are proposing two work assignments to meet these goals: I. Parking Facility Signage This work would include analysis, design, construction documents for the parking facilities sign standards to be applied to all City lots. The intention is to properly identify the lots and type of lot and make the payment procedure more understandable. Proposed fees for Phase I are attached. . II. Municipal Signing and Wayfinding Study Thiswork'would include inventory and analysis of current municipal signing including identification, directional, informational, and promotional elements. It would document typical conditions and evaluate their performance. appearance and contribution to the City's image. The study would further seek to identify information needs that are not being met, as well as identify opportunities to promote the City's image to its citizens and visitors. The study will finally present recommendations for improvements through design of a series of signing and wayfinding standards. Mr. Russell, our staff is prepared to begin work immediately to insure timely completion of the Phase I, Parking Facility Signage. The analysis work of that phase would be included in the Phase II Municipal Signing and Wayfinding Study. We have prepared proposals for both tasks for your consideration. If you wish Lane Design Group to proceed with these design studies, please sign and return one original to me. Thank you again for this invitation. I have attached a few project samples of similar work that we have designed for your review. As a small business concern in this community we certainly appreciate this opportunity and look forward to working with you, Chief Dauffenbach and the fine staff of the City of Stillwater, Minnesota. Sincerely, t!L9' /~ Principal .. I . By: 3/6/03 A. 3/8/03 B. 3/10 C. . 3/15/03 D. 3/20/03 E. 4/1/03 F. 5/1/03 G. . Mr. Steve Russell Community Development Director City of Stillwater 216 N. Fourth St. Stillwater, Minnesota 55082 Lane Design Group, Inc. 135 Lost Lake Court Mahtomedi, MN 55115 651 653-3839 teVfax rlane@lanedesigngroup.com March 3,2003 PROPOSAL Mr. Russell Per your request the following is a proposal for design and bid document work for the City of Stillwater, Minnesota, for Parking lot Signage Standards for the fourteen municipal lots in downtown Stillwater. Our work will include the following tasks required to analyze the operational needs of graphics elements, the physical requirements and conditions of the sites and prepare design drawings and specifications required to insure timely installation by the May 1, 2003. Work will include: Fee Review each lot and vending equipment and determine common conditions and variations and define sign types. 480.00 Design signs to meet the common and unique needs and conditions. (Consider trailblazer needs per Phase II Study) 1.200.00 Prepare presentation to show sign types, graphics and terminology and locations by site (base drawings of lots by City), and review preliminary cost estimate. 480.00 Prepare detail drawings and specifications and submit for final review. 960.00 Prepare location drawings and present for final review. 720.00 Acquire cost proposals from sign companies. (Review proposals and assist City in selection of a supplier) 360.00 Provide interim inspection of products and review final installations for compliance. (Installation may be staged by priority) 480.00 Total Fee Direct Expenses $4,680.00 Printing of presentation materials and detail drawings 45.00 Total Fees and Expenses $4,725.00. Thank you for requesting this proposal for graphic design services for the City of Stillwater. If you have any questions please call me at 651653-3839. If you wish to accept the proposal, please send one signed original back to my attention. Sincerely, 'Nt ~/~ Robert J. lane Principal. lane Design Group, Inc. Accepted by: TItle Date Mr. Steve Russell Community Development Director City of Stillwater 216 N. Fourth St. Stillwater. Minnesota 55082 Lane Design Group. Inc. 135 Lost Lake Court Mahtomedi. MN 55115 651 653-3839 teVfax rlane@lanedesigngroup.com March 3.2003 PRO P 0 S A L Mr. Russell We are pleased to present the following proposal for a Municipal Signing and Wayfinding Study for Stillwater. Minnesota. This work would include inventory and analysis of current municipal signing including identification. directional. informational. and promotional elements. It would document typical conditions and evaluate their performance, appearance and contribution to the City's image. The study would further seek to identify information needs that are not being met. as well as identify opportunities to promote the City's image to its citizens and visitors. The study will finally present recommendations for improvements through design of a series of signing and wayfinding standards. The work will include the following tasks: A. Review and document existing range of typical municipal sign types. B. Sort by function, typical locations and intended use. C. Evaluate each category by its effectiveness, appearance and contribution to the City's desired image D. Identify areas where information needs are not being met through stakeholder interviews and observation. E. Define opportunities for enhancing municipal image and resource awareness. Document and Present. \ . Fee 480.00 360.00 720.00 840.00 . 840.00 Upon compleuon of task E. fee proposals for the fof/owing tasks will be presented for approval: .............--.--......-----..--........---...--------.......---..---.............;--...---..................-.....-_.........-._- F. Design and present recommendations for a municipal sign and wayfinding improvement program. G. Preparation of sign / graphic component details and specifications. H. Review of fabrication and installation Total Fee Direct Expenses Printing of presentation materials and detail drawings Total Fees and ~nses Thank you for requesting this proposal for graphic design services for the City of Stillwater. If you have any questions please call me at 651 653.3839. If you wish to accept the proposal. please send one signed original back to my attention. Sincerely, M 0' ___L-- Accepted by: Title Date Robert J. Lane Principal, Lane Design Group. Inc. $3.240.00 55.00 $3,295.00, . . . . MEMORANDUM February 28, 2003 TO: Mayor and City Council FROM: Diane Ward, City Clerk SUBJECT: Possible acceptance of Trunk Highway 36 Impact Study and preliminary acceptance of Option F Councilmember Rheinberger has requested that this item be placed on the agenda for discussion. . . ~ . A Barr Engineering Company 4700 West 77th Street . Minneapolis. MN 55435-4803 Phone: 952-832-2600 . Fax: 952-832-2601 . www.barr.com BARR ._-~, ._,....""~..~.,,.'~....... Minneapolis. MN . Hibbing. MN . Duluth. MN . Ann Arbor. MI . Jefferson City, MO February 28, 2003 Mayor Jim Kimb]e City of Stillwater 2]6 North 4th Street Stillwater, Minnesota 55082-4807 Re: Mr. Klaytcn Eckles' Presentation to the City Engineer's Association of Minnesota Dear Honorab]e Mayor: I am on the Executive Committee for the City Engineer's Association of Minnesota (CEAM). On January 29, 2003 the CEAM held its annual meeting at which K]ayton Eckles spoke on new urbanism, low impact housing, and non-traditional road widths. The CEAM wants you to know how much we appreciated the time and effort Mr. Eckles took to inform the Association of successful innovative development approaches that the City has encouraged and implemented. This is just one of many aspects that make Stillwater the unique and special city that it is. So, the CEAM wants to thank you, City Council and Mr. Eck]es for helping to make our annual meeting so successful. SMK/dsd G:\DSD\jkimbleltr.doc JENNINGS STAl.b .~ BANK! "BANKING FOR TI-IE HOMETOWN LIFE"TM MEMBER FDIC ESTABLISHED 1890 1715 TOWER DRIVE WEST STILLWATER, MN 55082-7580 PHONE: (651) 351-1000 FAX: (651) 351-1009 TELEBANKING: (651) 351-1004 --~ FULL SERVICE BANKING A LOCALLY OWNED AND MANAGED INDEPENDENT COMMUNITY BANK ~> February 28,2003 Mr. Donald 1. Theisen, P .E. County Engineer Washington County Department of Transportation & Physical Deyelopment 11660 Myeron Road North Stillwater,.MN 55082 . RE: Access To Washington County State and Highway 5 (Stillwater Boulevard North; CSAH 5) From Proposed Jennings State Bank Building Dear Mr. Theisen: Thank you for your letter dated February 26,2003: We continue to disagree with your staff's assessment of the situation. More specifically, however, the purpose of this letter includes the need to correct some important misstatements of fact contained in your letter. Although perhaps unintentional, you haye been seriously mislead or misinformed. There are several inaccuracies in the second paragraph of your letter. In particular, you state that significant time was spent with the City and deyelopers to determine access issues in this situation. Jennings State Bank is one of the developers and we haye been actively involved as the deyel. of our site during all phases of this project since the very beginning. Ou involvement has extended to all those involved in this project. Your letter fails to recognize this important fact. Indeed, our written agreements with Mr. Nolde (Anchobaypro, Inc.) specifically provide that Jennings State Bank (and not Anchobaypro, Inc.) will be responsible for deyeIopment along Stillwater Bouleyard. I can assure you that neither Mr. Nolde nor Jennings State Bank have eyer made any commitments or representations regarding the acceptability of access issues or the resolution thereof with respect to this project. Likewise, we haye at all times been informed by the City that the issues at hand are to be decided by the County since Stillwater Boulevard is not a City street. As a result, the City has taken no position in this matter and has neyer adyised us of a change in its opinion that this not is a City street. If your staff still maintains to the contrary, then please advise me of the times and dates of the . development meetings we attended at which we made any of the purported . agreements or determinations with the City or the County. Your letter is also notable for failing to mention the inyolvement of some very key players in this situation - the actual residents of the affected neighborhood. We personally haye had several meetings with local residents, all of whom very much want the median cut we haye requestecJA They desire the median cut because they realize that it will save them fro_e nuisance of traffic being routed into their neighborhood resulting from the absence of a median cut. Since the beginning, we have assured our neighbors .' JENNINGS ST A TE BANK 16- DA VID M. JENNINGs. E.V.P. .etter to Mr. Donald J. Theisen, P .E. . . February 28, 2003 Page 2 that we intend to obtain a median cut for the conyenience and benefit of all those involved. The desire of the residents for the median cut was quite evident the eyening we went before the City Council, and I invite you to review those tapes if you wish to do so. In fact, we would be glad to arrange for a meeting with the local residents so they can express their desire to you directly. The median cut will also increase safety by reducing the number of"U-tums" at Stillwater Bouleyard and West 0rleans Street required in order for our customers to reach us when coming to our new location by travelling north on Stillwater Boulevard. Your letter also refers to protecting the public inyestment. We can assure you that there will be no loss of public investment. At our meeting with your staff, we made it quite clear that Jennings State Bank is willing to pay for the changes requested. We regret that you were not informed of this important detail. We realize that the cost may be substantial but I wish to advise you of our continued commitment to pay for the roadway accommodations we have requested. In terms of investment, you haye also failed to account for the substantial investment Jennings State Bank is making this the site. Our inyestment will add a substantial taxpaying property to the County tax rolls. There is no doubt that the current owners of Jennings State Bank will pay milliops of dollars in taxes to Washington County during the time we own the property. There is certainly no loss of investment by the County. Iffact, the County will realize a tremendous investment windfall since Jennings State Bank does not use any costly County services. This is the only time we will ever ask the County for any accommodations much less the yery reasonable pending request. The apparent position of your staff is that approyal of our request will be granted only if there is zero risk. Although this is the safest route for a public employee to eyer avoid any criticism, it is neither practical nor fair. Afterall, the owners, staff and customers of Jennings State Bank are also residents and taxpayers of the County. Obyiously, Jennings State Bank is very cognizant and desirous of safety too. But nobody can ever guarantee no risk and zero risk certainly cannot be a reasonable standard. Nothing will eyer protect any . member of the public from other poor drivers on the roadway. As a case in point, it is interesting to note that we have been advised by a reliable source that the location of the most traffic incidents in Washington County is in fact a controlled intersection. Eyen so, there are traffic lights both north (at Orleans) and south (at Curve Crest) which will undoubtedly have a significant positive impact on traffic control and traffic speed at our location. Specifically with respect to our requests, however, no data has been provided by the County to support a position that there is unusual risk inyolyed in our JENN1NGS STATE BANK 16 '. DAVID M. JENNINGS. EV.P. Letter to Mr. Donald 1. Theisen, P.E. request. Indeed, we are hereby requesting all traffic incident information. available with respect to the median cut location on Stillwater Boulevard near Highway 36 currently being utilized by US. Bank. Ifit remains the County's position that our request is too dangerous, then we wish to be further advised of when the County intends to close the median cut being used by US. Bank. There remains an even bigger problem with the numerous. other locations on Highway 5 where drastically different standards are being allowed for other property owners (some of which are public sector) than are being applied to Jennings State Bank in this case. We haye prepared an extensive list of such sites along Highway 5 within eyen a couple miles from our new location. Weare simply requesting treatment uniform with other property owners. As a public official, we would hope that you also value equity, uniformity and basic fairness in how you conduct your business with the public. We likewise hope that we are not the yictims of anti-business or even anti- bank sentiments that seem too often abundant in certain segments of the public sector. We are not some huge and faceless banking empire. We are a local family owned community bank who has contributed much to our community and who will continue to do so for many years. It is certainly fair to say that the requests we have submitted will have a long term and . significant impact on our business and on our customers. This deserves respect from all levels of the County, especially senior management. It appears to us, as reasonable businessmen, that the answer of "no" is being giyen just because somebody has the power to do so, which is by definition an abuse of power. In short, there is not a meritorious reason for any denial. In conclusion, we really appreciate your attention to this matter and your inyolvement. Weare not unwilling to compromise. Conditioned on the granting of the median cut, Jennings State Bank may be prepared to live with other aspects of your staff recommendations with which we do not agree. All things considered, however, Jennings State Bank considers the site access requests we haye submitted and matters associated therewith to yery much remain open issues. If you haye any further questions regarding our positions in these matters then please contact either of us. Thank you. r V"/ - .. February 28, 2003 Page 3 "JENNlNGS 5TA TE BANK Jlf- DAVID M. JENNINGS. E.V.P. Letter to Mr. Donald J. Theisen. P E tt - . . . . February 28, 2003 Page 4 Dayid M. Jennings: Direct Dial: (651) 351-9693 E-mail: djennings@jenningsbank.com D. Paul Jennings Direct Dial: (651) 351-9690 E-mail: pjennings@jenningsbank.com DMJlps Copy: Steye Russell, Stillwater Community Deyelopment Director Klayton Eckles, Stillwater City Engineer Brian Larson, AlA, Larson Brenner Architects Anthony Scott, Larson Brenner Architects Jim DeBenedet, Stevens Engineering Ross Redman, Stevens Engineering Tim Nolde, President, Anchobaypro, Inc. Nile Kriesel, Washington County Commissioner, District 3 Bill Pulkrabek, Washington County Commissioner, District 2 Jim Schug, Washington County Administrator Don Wisniewski, County Director of Transportation & Physical Development Jay Kimble, Mayor of Stillwater Mike O'Brien, Real Estate Masters WASHINGTON COUNTY DEPARTMENT OF TRANSPORTATION & PHYSICAL DEVELOPMENT 11660 MYERON ROAD NORTH. STILLWATER. MINNESOTA 55082-9573 651-43CJ.4300 Facsimile Machine 651-430-4350 February 26, 2003 ~,6' 1/~f( D. Paul.Jennings Chairman & CEO Jennings State Bank 1715 Tower Dr. W. Stillwater, MN 55082-7580 Donald C. Wisniewslci.p.E. Djredar . Donald J. Theisen, P.E. .. Deputy DireciorlCllUnly Engineer James D. Luger. RlA ParKs D1redDr v~~.:.~~, l=Y S. Nybeck. PLS-<:ounty SuM Deputy DitedDr. SuNey and lane ManagemenllJivisicn Marvin :.~~. Facilities Manager ACCESS TO WASHINGTON COUNTY STATE AID HIGHWAY 5 (STILLWATER BOULEVARD NORTH; CSAH 5) FROM PROPOSED JENNINGS STATE BANK BUILDING Dear Mr. Jennings; - Thank you for meeting with our staff on February 11, 2003 to discuss access to CSAH 5 for your proposed bank building. I regret that I was not able to attend your meeting. Staff reviewed your proposal with me and J want to provide you with some additional background and clarification of our position. Stillwater Boulevard was a 2 lane county road in 1993. Now it functions as a high-volume, high-speed minor arterial highway. When planning the improvement of Stillwater Boulevard, significant time was spent with the. City and developers at the time to determine access locations. Everyone agreed that with the magnitude of public investment being made, preservation of this road as a safe and effective highway through access management is essential. The current access locations on Stillwater Boulevard were the agreed plan by the City and the County. We understand that you are considering a full access location with a median op~ning on Stillwater Boulevar. At the meeting, our staff discussed why we would not approve this request. We would approve one right in - right out location for your development. The necessity to protect the public investment made in Stillwater Boulevard and the safety of o~er 14,000 cars that drive this highway daily is very important. We hope you understand this position on access management Please feel free to contact me at (651) 430-4304, or Wa'f!1e Sandberg, Traffic Engineer at (651) 430-4339, if j~ wish to discuss this issue further. . Since /. .(l~ c: Steve Russell, Stillwater Community Development Director K1ayton Eckles, Stillwater City Engineer Brian Larson, AlA,. Larson Brenner Architects Anthony Scott, Larson Brenner Architects Jim DeBenedet, Stevens. Engineers Ross Redman, Stevens Engineers TIm Nolde, Anchorbaypro, Inc. Nile Kriesei, Washington County Commissioner, District 3 Jim Schug; Washington County Admin;;:.LCllDr Don Wisniewski, County Director of Transportation & Physical Development N:\WORD\Theisen\J<......:...... Bank Revised ~ - 2.doc . '0.) . . .. I HUMAN RIGHTS MINUTES February 26, 2003 Present: Anthony Carr, Ken Moses, Ri.ck Johnson, Ellie S.amuelson Absent: Kathleen Roach, Dan Cox, Mick Eldred Meeting called to order at 7:04 pm by Chairperson.Tony: Carr. Approval of Minutes: R. Johnson moved, E. Samuelson seconded, minutes. of January 29, 2003, approved. Mr. Moses offered to continue as ongoing Recording Sec:retary.to take minutes each meeting. Ms. Samuelson moved to accept the: offer; Mr. J()hnson seconded, approved. Ellie Samuelson was introduced as a new member of the Commission. A long discussion was he:).d about bills that have been introduced in the Legislature (HF-341jSF-545) to repeal the state Human Rights AmEmdmerih and HF~330jSF-293 regarding the state employees' contract. The first pairbf bills intends to remove all protections from gay, lesbian, b.isexual, ,ang transgender citizensin.employment, housing, education, public accommodations, and other areas, and to rescind Minnesota.' scondemI1atiori .of Nazi persecution of homosexuals in the Holocaust, an atfemptto rewrite. history. The second pair of bills ratifies the current interim contract with state employees that was due to expire in May, but without: the domestic-partner benefits for same-sex partners (85 out of 50.,000 employees); the broader effect is to undermine the decades-.91d collective-bargaining process with the unions. Both sets ()f.billsappearto be motivated by prejudice, since there is little or no fiscal impact ..aJ:1<:l they go against previous directives by the voters. Out Front Minnesota, the state GLBT advocacy organization, is holding a 1 ()bby day at the s.tate'.. capitol on March 6 to attempt to convince legislators to V()te in favor of GLBT citizens; and a full history and discussion of the issues is incl\lded in the March issue of the Out in the Valley newsletter. A related side issue was that the St. Croix Valley Pres.s censored reporter Jackie Dubbe's weekly column which strongly disapproved ofthe:i,ntroduction of the bills. It was agreed by consensus that the issue is clearly a proper one for the Human Rights Commission. Mr. Carr. moved that the HRC will.seJ:1d a letter stating disapproval of.the action to all. the authors of the bills and to the legislators representing. Stillwater; f>'jr. Johnson seconded; approved: Mr. Moses will write a draft of the letter, to be.modified andaPPr-ov'ed'by HRC members before being sent. Mr. Johnson brought up the issue of another pair of bills (HF-163/SF-'21) which intend to make English the official language of the state and restrict public use of other languages for non-nativespea.kersineveryday occasions with some exceptions; it would eliminate most multi~lingual printed documents. The bills would open the state to expensive liability lawsuits in instances where the state's intentional inability t:9 communicate creates an error in service. It .was suggested that the use,of multi-lingual communications should be local options. <, Ms. Samuelson moved. that. the HRCwill .send a letter. stating disapproval the action .to all the authors of the bills and to. t.he legis'lators representing Stillwater jMr. Moses seconded, approved . Mr. . Johnson will write a draft of the letter i tob'e modified and approvedbyHRCmembers before being sent; Mr. Moses pointed out that similar issues exist with people with disabilities and the state'sbudgetcuj:sj btitsincethese ar,eongoing problems whose resolution is primarily financial and not so much a matter of human rights, and many other organizations are p.ealing'withthe issues, it was decided by consensus that the HRC would not take any ,action at this time. He also said that percentage cuts in serviceforpE::ople with, disabilities are essentially impractical, since one must do an entire shower or defecation session and not stop part-way through, and cutsih these basic servicesare,likelyt() result .in' severe (and expensive) health problems. COMMITTEE REPORTS: Mr. Carr. and Mr. Moses will talk with the editor of the Stillwater abollt printing a summary of the ERC :meetingseachmonth. Accessibility: Nothing new.to report. . Hate Crimes: Mr. Carr 'suggested that all HRCmembers go to sessions of' Washington County Community Circles to see how they work, and that the invite a Circle representative .to HRCmeetingsona regularbasis., Mr. Johnson described. Victim Offender Conferencing Program, ,similar to . the Circlesj Mr. Moses suggested thatthe.HRC.should include all such groups on its liaison list if they're willing'to take referrals, Housing/Transportation: In the matter of l~ndlord/tenant relations and' unannouncedinspections,. Mr; Carrreportedthattherewa? a 24 '-hour notice" required in Woodbury j others reported visitsa,round the area. :with no notice. Ms. Roach'sent word that she.. will 'have more information at the' March meeting; Mr. Carr will also find more information. GLBT Rights: Mr.' Moses announced three Out in the Valley events for March. (The major issue i?the previously~discussedbi1lsinthe legislature:) Sue Moore reported that the reprinting ,of the HRC letterhead will cost $200j the expense was confirmed by consensus. The League of Minnes()ta Human Rights. Commissions 'sent a bill for dues $78.75 . Mr. Carr moved to aut,horiz,e Diane Ward to pay the bfll,Ms. Samuelson seconded, appr()ved. Updated HRCaddress lists and Stillwater parking brochures were distribu.ted to the members. Mr. Moses moved to adjourn the meeting, Mr. Johnson seconded, all approved, and the meeting was adjourned at 8:14'pm. Respectively submitted, Ken Moses . February 27, 2003 STILLWATER TOWN BOARD MEt lING. Town Hall 7:00 P.M. PRESENT: Chairperson Sheila-Marie Untiedt, Supervisors David Johnson, Jim Hiniker, Duane Laabs and Jim Doriott. Also, Planner Dick Thompson, Attorney Tom Scott, Treasurer Gloria Sell and Police Chief Steve Nelson. 1. AGENDA - M/S/P Johnson/Doriott moved to adopt the agenda as amended. (4 ayes) 2. MINUTES - M/S/P Doriott/Hiniker moved to approve the 2/13/03 planning commission applicants meeting minutes. (4 ayes) M/S/P Doriott/Hiniker moved to approve the 2/18/03 Stillwater town board meeting minutes as written. (4 ayes) 3. . TREASURER - 1. Claims and checks numbered #16180 thru #16190 were reviewed and signed. 2. M/S/P Untiedt/Johnson moved to authorize the treasurer to invest with Eagle Valley Bank of Stillwater if they have the best rate. (5 ayes) 4. ATTORNEY- 1. The audit relief letter was reviewed and will be forwarded to the township association and legislator Rebecca Otto. 2. Chris Kearney and Gloria Sell will supply information for the developer's survey of expenses recently received from the state. 3. M/S/P Doriott/Laabs the Vincent park maintenance contract will be terminated effeCtive immediately. (5 ayes) Mr. Vincent is welcome to send in a bid for future lawn maintenance work. 5. ORGANIZATIONAL ITEMS -. 1. M/S/P Laabs/Doriott moved that there be a rotating board chairperson every two months in 2003. (5 ayes) 2. M/S/P Johnson/Hiniker moved that the Stillwater Gazette continue to be the township's legal publication for 2003. (5 ayes) 3. jvi/S/P Johnson/Laabs moved that regularly scheduled town board meetings be held the second and fourth Thursdays of the month except in November and December when meetings are only held the second Thursday of the month. (5 ayes) . Stillwater Town Board Meeting - 2/27/03 Page Two 6. SATHER/DUCHAINE - HORSES INC. - These new owners were present to talk abo. future development plans for their newly purchased 83 acre property on Stonebridge Trail. Among other changes they intend to restore the horse barn to enhance the property. The board members made comments favorable to the new owners efforts to preserve the barn. 7. PLANNER- 1. Keefer Minor Subdivision - There was discussion re: the park dedication. It has been the township policy to assess the park dedication amount before the property is divided. The township believes the 100/0 dedication amount should be close to $6,400.00 not the $7,800.00 amount that the county has stated. The planner will look into the matter. 2. Certificate of Comoliance - The planner has devised a plan whereby the applicant for a building permit will apply first to Chris Kearney who acts as the zoning administrator. Chris will check that all is in order. If it isn't he will refer the matter to the planner for further consideration. The attorney will clarify the zoning administrator status. The planner and attorney will work together to sort this out. Agenda 3/13 3. Curtiss Prooertv - The planner states that a variance will be needed to build cA this substandard lot. He will forward a letter to those concerned. Time spe~ so far will be reimbursed to the planner by the township government. 8. REX PERRY ESCROW - After reviewing the escrow bill of $536.00 from Theresa Greenfield, the board members reduced the cost to Mr. Perry to $268.00. M/S/P Hiniker/Laabs moved to reimburse Mr. Perry one half of MFRA's bill of $536.00 as stated in a letter from Theresa Greenfield dated 2-21-2003. Any attorney's fees must be reimbursed by Mr. Perry. (5 ayes) 9. CHIEF OF POLICE REPORT ~ 1. Circulated his monthly reports. 2. Arranged a reservation for a boy scout outing on May 5, 2003 from 6-8 p.m. The fee is to be sent to the clerk. A notice will be put on the bulletin board that Mr. Hiniker will have put in place. 3. M/S/P Laabs/Hiniker moved to purchase an $800.00 planning package, not more than $1,500.00 for a data base and design programming, and an additional purchase of software for $400.00 for the peace officers failing computer system. (5 ayes) 10. PARKING LOT CHAIN - M/S/P Hiniker/Johnson moved to take down the parking. lot chain. (4 ayes, Doriott nay) 11. MAP WORK - M/S/P Johnson/Laabs moved that Denise Remick add subdivision names to the colored township map for not more than $150.00. (5 ayes) Stillwater Town Board Meeting - 2/27/03 Page Three . 12. RICHTMAN - RECYCLING - Motion Failed Untiedt/Laabs moved to spend $600.00 for recycling bins and up to $400.00 for other related items. (5 ayes) M/S/P Johnson/Laabs moved to spend $425.00 for bins and $200.00 for other promotional items. The balance to be added to next year's funding. (3 ayes, Doriott/Hiniker nays) 13. ADJOURNMENT - Meeting adjourned at 10:30 p.m. Clerk Chairperson Approved . . .. . . . ~ , - - ---- ---- ---- ---- ---- ---- ---- GOVERNMENT FINANCE OFFICERS ASSOCIATION 203 North LaSalle Street, Suite 2700, Chicago, Illinois 60601-1 210 312/977-9700 · Fax: 312/977-4806 January 17, 2003 The Honorable Jay Kimble Mayor City of Stillwater 216 North Fourth Street Stillwater, Minnesota 55082 Dear Mayor Kimble: We are pleased to notify you that your comprehensive annual finan- cial report for the fiscal year ended December 31, 2001 qualifies for a Certificate of Achievement for Excellence in Financial Reporting. The Certificate of Achievement is the highest form ~f recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. The Certificate of Achievement plaque will be shipped to: Ms. Sharon Harrison Assistant Finance Director under separate cover in about eight weeks. We hope that you will arrange for a formal presentation of the Certificate and Award of Financial Reporting Achievement, and that appropriate publicity will be given to this notable achievement. To assist with this, enclosed are a sample news release and the Certificate Program JlResultsJl for reports with fiscal years ended during 2000 repre- senting the most recent statistics available. We hope that your example will encourage other government offi- cials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting. Sincerely, GOVERNMENT FINANCE OFFICERS ASSOCIATION Si:t~~.~~ Stephen J. Gauthier Director/Technical Services Center SJG/ds WASHINGTON OFFICE 1750 K Street, N.W., Suite 350, Washington, OC 20006 202/429-2750 · Fax: 202/429-2755 . ---- ---- --- --- ---- ------,.-- ---- GOVERNMENT FINANCE OFFICERS ASSOCIATION . 203 North LaSalle Street, Suite 2700. Chicago, Illinois 60601-1210 312/977-9700 · Fax: 312/977-4806 January 17, 2003 NEWS RELEASE For information contact: Stephen Gauthier (312) 977-9700 (Chicago)--The Certificate of Achievement for Excellence in Finan- cial Reporting has been awarded to: City of Stillwater, MN by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplish- ment by a government and its management. An Award of Financial Reporting Achievement has been awarded . to the individual(s), department or agency designated by the government as primarily responsible for preparing the award- winning CAFR. This has been presented to: Sharon Harrison, Assistant Finance Director The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a construc- tive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. The GFOA is a nonprofit professional association serving approximately 14,000 government finance professionals with offices in Chicago, Illinois, and Washington, D.C. . WASHINGTON OFFICE 1750 K Street, N.W., Suite 350. Washington. DC 20006 202/429-2750 · Fax: 202/429-2755 . .-- j ~ ._~_wa' fer PO::=--- ---== " THE BIRTHPLACE OF MINNESOTA FIRE DEPARTMENT February 27, 2003 Joshua Thoma Pinnacle Restaurant Group, LLC La Belle Vie 312 S. Main St. Stillwater, MN 55082 Dear Joshua Thoma: . Due to the disasters that occurred recently in Chicago and Rhode Island, I thought it appropriate to contact all establishments in Stillwater that sell liquor on site and remind you of the code requirements regarding your type of business. The primary goal for enforcing the building and fire codes is ensuring life safety. The following information is provided so you have a clear understanding of the codes that apply, and your responsibility to abide by and enforce such codes at all times. 1) No one shall be allowed to operate any type of pyrotechnics in any establishment within the City of Stillwater. No one shall be allowed to operate any type of pyrotechnics outdoors without specific written permission from the Stillwater Fire Chief. The Minnesota Uniform Fire Code (MUFC), Article 78,Section 7801.3.2 Pyrotechnic special effects material. Apermit is required to manufacture, compound, store or use pyrotechnic special effects material. A permit for use shall be granted only to a pyrotechnic operator. (That means a permit may be issued to apyrotechnic operator, as defined by MinnesotaStatute, if cUI city and state requirements are met.) , 2) It is your responsibility as the ownerlmanager of your facility to meet with any organization (i.e. band, dis~jockey etc.) that is allowed to perform in your facility and specifically inform them that fireworks and pyrotechnics are not aUowed inside your facility. . My suggestion is to haye the above information in writing and require the responsible person for any band, etc. sign the document that they understand and will comply with all requirements. The owner, manager or an approved designee from your facility should also sign the document as a witness. 216 North Fourth Street · Stillwater, Minnesota 55082 PHONE: (651) 351-4963 · FAX: (651) 351-4967 .. Joshua Thoma La Belle Vie February 27,2003 Page 2 . 1) It is your responsibility to maintain exits, means of egress and maintenance of emergency lighting, equipment, etc. The following sections of the MUFC address the issues you must enforce to comply with the requirements: ARTICLE 12 - MAINTENANCE OF MEANS OF EGRESS & EMERGENCY ESCAPES Section 1201.1 Scope. Maintenance of means of egress and emergency escapes in buildings and structures used or intended to be used for human occupancy shall be in accordance with Article 12. A) Section 1203 - Means of Egress Obstructions Obstructions, including storage, shall not be placed in the required width of a means of egress, except projections as allowed by the Building Code. Means of egress shall not be obstructed in any manner . and shall remain free of any material or matter where its presence would obstruct or render the means of egress hazardous. B) Section 1207 -Doors Section 1207.1 GeneraL Exit doors shall be maintained in accordance with Section 1207. Exit doors shall be maintained in an operable condition. Doors installed as part of required fire assemblies shall be maintained in accordance with Section 1111. Section 1207.3 Locking Devices (As amended) Exit doors shall be openable from the inside without the use of a key or any special knowledge or effort. Exit doors shall not be locked, chained, bolted, barred, latched or otherwise rendered unusable. All locking deyices shall be of an approved type. Exception 1: In Group A, Diyision 3 (Under three hundred occupants with no legitimate stage) Key latching hardware may be used on the main exit when the main exit consists of a single door or pair of doors if there is a readily visible durable sign on or adjacent to . . Joshua Thoma La Belle Vie February 27,2003 Page 3 the door stating: "This door to remain unlocked durin2. business hours". The sign shall be in letters not less than 1 inch high on a contrasting background. When unlocked, the single door or both leaves of a pair of doors must be free to swing without operation of a latching deyice. The use of this exception may be revoked by the Fire Chief or Building Official for due cause. C) Section 1208 - Gates and Barriers Section 1208.2 - Latch. Gates and barriers shall be openable without the use of a key or any special knowledge or effort. Gates and barriers in a means of egress shall not be locked, chained, bolted, barred, latched or otherwise rendered unopenable at times when the building or area served by the means of egress is occupied. . D) Section 1211 Means of Egress - Illumination Section 1211.1 General. Means of egress illumination (emergency lighting) shall be provided and maintained in accordance with the Building Code. Means of egress shall be illuminated when the building or structure is occupied. Section 1211.2 Emergency Power Equipment. Equipment providing emergency power for means of egress illumination and exit signs shall be maintained in an operable condition. E) Section 1212 Means of Egress - Identification Section 1212.2 Where Required. The path of exit travel to and within exits in a building shall be identified by exit signs conforming to the requirements of the building code. Exit signs shall be readily yisible from any direction or approach. Exit signs shall be located as necessary to clearly indicate the direction of egress trayel. No point shall be more than 100 feet from the nearest visible sign. . Section 1212.4 Illumination. Exit signs shall be internally or externally illuminated. When the face of an exit sign is illuminated from an external source, it shall have an intensity of not less than 5 "'. Joshua Thoma La Belle Vie February 27,2003 Page 4 . footcandles from either of two electric lamps. Internally illuminated signs shall provide equivalent luminance and be listed for the purpose. Section 1215.5 Power Source. All exit signs shall be illuminated at all times. To ensure continued illumination for a duration of not less than 11;2 hour in case of primary power loss, the exit signs shall additionally be connected to an emergency electrical system provided from storage batteries, unit equipment or an on-site generator set and the system shall be installed in accordance with the Electrical Code. Exception: Approved self-luminous signs that provide continuous illumination independent of an external power source. F) Section 1213 -Discharge, Dispersal and Refuse Section 1213.1 General. Areas designated for occupant discharge, dispersal or refuge shall be maintained unobstructed and clear of storage. Section 1213.4 Obstructions. (As amended) All exits shall be maintained free of obstructions, including the accumulation of snow and ice, which would restrict their use. . ARTICLE 25 - PLACES OF ASSEMBLY A) Section 2501.16 - Maximum Occupant Load Section 2501.16.1 Posting of room capacity. Any room having an occupant load of 50 or more where fixed seats are not installed, and which is used for assembly purposes, shall have the capacity of the room posted in a conspicuous place on an approved sign near the main exit from the room. Such sign shall be maintained legible by the owner or the owner's authorized agent and shall indicate the number of occupants permitted for each room use. B) Section 2501.16.2 - Determination of Occupant Load. The number of persons in a building or portion thereof shall not exceed the amount determined as specified in the Building Code, except that where such additional exit facilities are provided the occupant load can be increased . . . . ] oshua Thoma La Belle Vie February 27,2003 Page 5 by not more than 10 percent, when approved by the fire chief, without being considered overcrowding. C) Section 2501.16.3 - Overcrowding. Overcrowding and admittance of persons beyond the approved capacity of a place of assembly are prohibited. The chief, upon finding overcrowding conditions or obstructions in aisles, passageways or other means of egress, or upon finding a condition which constitutes a serious menace to life, is authorized to cause the performance, presentation, spectacle or entertainment to be stopped until such condition or obstruction is corrected. ARTICLE 10 - FIRE PROTECTION SYSTEMS & EQUIPMENT A) Section 1002 - Portable Fire Extinguishers Section 1002.1 General. Portable fire extinguishers shall be installed in occupancies and locations as set forth in this code and as required by the fire chief. I realize a lot of information has been provided to you, but it is your explicit responsibility to ensure the life safety of anyone in your facility. The requirements as stated apply to your type of occupancy; however, there may be other code issues that are not specifically listed in this letter that also apply to your business. The Stillwater Fire Department will be conducting inspections of all on-sale liquor establishments in the coming months. If you desire to have your facility inspected within the next week or two, please call the Stillwater Fire Department to schedule your inspection. Thank you for your time and cooperation. Working together we can provide a fire-safe environment for your patrons and employees. Sincere;t~d4_/ ., ~ dy(4'~d- ~~ A. Kallestad Stillwater Fire Chief (651) 351-4951 Cc: Mayor and Council City Administrator Fire Department Personnel Building Official 11~!!iIJil'I'f~"":~~_,r"'"'q .. ... . ."~ _...:;: ."l8lllll:I~~ !_I."":""1~';r~~l\(""?"'~I~~.li1;f,41I~'f0~!j"f'""~I;~~%:'~n'W~lft'!Ilj ~~~.!!!!1:iI~~;n~~~, .... ,. .. . , , . .. .,r '. ...... ..'. 4"'_BB~,~,,~.i.l\fll_III~.,l,tfjlJ(l\ta...Mil:\ll!!iItBJf,fIiL.I'L,,!!~I'MMib~I'IX4 J. & C. E_n"terpriess of Stillwater, LLC St. Croix Saloon & Eatery jesslca !Jill ' Junker P.O. Box Stillwater !MN 55082 St. C,E~Lx Boat & Packe!_Co. Lowell Inn Amy Es'tensen P.O. Box Stillwater !rvlN 55082 Terrintella's Coporation Buena Sera Restaurant Wayne IAnthony Cullinan 402 Main Stillwater IMN 55082 JLH Inc, John's Bar Robert John Hinz 302 S. Stillwater MN 55082 Acapulco o{iV1Innesot~i' ..._."^"."",-,, "-"Acap'u'lcoMexican Restauranf-'- Jose"-'--' Valentfn-' [eon'" 240 'sfiilwater"'MN""""-"S5082"'-' Beac't,'.'S'lan.ket B'lngoinc:'-..,^",........,.,'-,..^"'-p:I5:"Pa'!JPY's--_...,^".--"."..-,.,....-...,....."......."..., .G.regory,..'..'..IAi'ien...'....".....,. ...., ..Cindow -,.. 'P~'O:'-Box'-'" .Stj.fiwater.."...liV1.N.... .."...,.. '55682 . _~_~_~___~.~___..~~... .~N_'_..'~_". .__.~_""~__~~._~...._,_ ___ I 'N' ____ ."_"_~ ___.V"_._~.___'J...M__.._..___"._.__....___ Brine'.~",~~~.:,__""_,, Brine's Bar & Restaurant ""__~~~~.~~~__ IJohn Brine ._""", ~_~~._~" ~~~!_~~~,~._,MN 55082 Dock Cafe Corp. Dock Cafe Sherri ILynn Hopfe 425 E. Stillwater MN 55082 EKS Inc. ....,,, Harbor Bar Edward !John Schmidt 517 N. Sl1Tiwater iMN 55082 Freight House Inc. Freight House Robert IWilliam Sabes 305 S. Stillwater iMN 55082 Loggers Inc. Loggers Allan I Robert Anderson 231 E. Stillwater IMN 55082 .~~dm<?~e.e~E~~loon & E~t~rylnc... .!V1ad Capper ..... . Jeffrey. iR Chilson 224 E. Stillwater !MN 55082 'p'~p.ij?~?f~~!I,v."~~~~~'""'d'" 'm""'''''''''''_ '~",':::::~ ~epltos De' Stillwater"."....,.,....._..... 'm "WiTHam'"""" Joseph .. 'Se'nkyr""'."42'3'''Maln'''siiTIwater M N55'082 ......... m...."..... _........___.... _..._ ......................."m_...'..._,.. ."..,............."......."... ...'_m....._..., _........."..'" " ......_._.._....'''...."m' . ._........".....L.........._"......"."....... . "..........., Oak Glen Limited Ptsp. Oak Glen Gregory John Stang 1599 Stillwater IMN 55082 _.."...,....,,_....... I St. Croix Preservation Co., Inc. Lumber Baron's Hotel Duane Hubbs 102 S. Stillwater iMN 55082 St. CroixMusic Caf~',-inc. St. Croix Music Cafe Tom Arnold Howard 317 S. Stillwater iMN 55082 ITimber Lodge Steakhouse, Inc. Timber Lodge Steakhouse Mary Kamrad 1801 E. Bloomingto MN 55425 I Meister, Eile:~n V. Meister's Bar & Grill Eileen Vera Meister 901 S. 4th Stillwater MN 55082" . . . . . . IBA Mensch, Inc. Marx Wine Bar and Mark Hanson 1241 South Main Stillwater MN 55082 fBriccodYVino, Tnc". _,......~_w~, ''''''''_~'''''''__' ~." Cesare's Wine Bar Leslie A Alexander 1 02 2nd Street S Stillwater MN 55082 L-..~'."'m"_"~..,"_".,'"w,,' ""'"'-"~.""""",."~.,,,,.~~""---_.~,, .,..,...............- _,~__m. ..=_".....".._.....". .~ ! D & D of Minnesota Famous Dave's BBQ Annette Johnson 8091 Wallace Road Eden Prairie MN 55344 rPinnacle Restaurant "" La Belle Vie Joshua John Thoma 312 S. Main S1. Stillwater MN 55082 I Savories LLC Savories Jeffrey Curtis Klemetsru 108 N. Main S1. Stillwater MN 55982 lThe Chefs Gailery~.,LLC The Chefs Gallery Laura Kay IBachman 324 S. Main S1. Stillwater ,MN 55082 , 1"?,!:.s:E<?i~,,.,~?~!,~~9..~~~.~~,!, The Grand ..."'...m'.".'.,.~,~y...,m,~ I J~~!.~~.~~~ ,1,~:g,:.,~<?~.~~?w.,...."J,?!!I!~~!~E. ""',J~,~,.._",,~.~9~.~ "I ...... ,.........., .. ..-..~.~...,. Chair Untiedt Call To Order Agenda:. Minutes.;. Ir.eas.urer: Attorney: flanner: Engineer: Clerk: .committees: 8:00 PM Old Business New Busin.e.ss..:.. A!JiQurn 02/22/2003 Stillwater Township February 27,2003 Stillwater Town Hall . 7:00 P.M. Regular Meeting Adopt Approve Minutes February 13,2003 Regular Town Board Meeting And February 18, 2003 11eeting Plan. Com. Applicants 1. Checks\Claims 1. Audit Relief Letter 2. Developers Survey Of Expenses 1. 1. Perry Esc;row Letter 1. Misc. 1. . 1. Police Chief Report 1. Hiniker: Updates From Twp. Legislature Meeting . Pat Bantli Diane Ward From: .ent: 0: Subject: Linda Engh [Linda.Engh@co.washington.mn.us] Thursday, February 20, 20032:03 PM Linda Engh Washington County Board Agenda - February 25, 2003 Washington County Board of Commissioners 14949 62nd Street North Stillwater, MN 55082 Washington County, County Board Agenda February 25,2003 1. 9:00 - Roll Call Pledge of Allegiance 2. 9:10 - Comments from the Public Visitors may share their comments or concerns on any issue that is a responsibility or function of Washington County Government, whether or not the issue is listed on this agenda. Persons who wish to address the Board must fill out a comment card before the meeting begins and give it to the County Board secretary or the County Administrator. The County Board Chair will ask you to come to the podium, state your name and address, and present your comments. You are encouraged to limit your .presentation to no more than five minutes. The Board Chair reserves the .ight to limit an individual's presentation if it becomes redundant, repetitive, overly argumentative, or if it is not relevant to an issue that is part of Washington County's responsibilities. The chair may also limit the number of individual presentations to accommodate the scheduled agenda items. 3. 9:10 - Consent Calendar 4. 9: 10 - Community Services - Dan Papin, Director A. Update on Activities of the Washington County Child Protection Citizen Review Panel B. Workforce Center Annual Report - July 1, 2001 thru June 30, 2002 5. 9:25 - General Administration - Jim Schug, County Administrator Legislative Update 6. 9:35 - Commissioner Reports - Comments - Questions This period of time shall be used by the Commissioners to report to the full Board on committee activities, make comments on matters of interest and information, or raise questions to the staff. This action is not intended to result in substantive board action during this time. Any action necessary because of discussion will be scheduled for a future board meeting. 7. Board Correspondence .s. 9:45 - Adjourn 9. 9:50 to 10:20 - Board Workshop with Office of Administration 1 Preliminary Review of the Governor's Budget Proposal and its Potential Impact on County Services and Programs ************************************ **** Reminder: No Board Meeting on March 4, 2003 - NACo Annual Conference . Meeting Notices February 25 - Planning Advisory Commission 7:00 p.m. - Washington County Government Center February 25 - Finance Committee 10:30 a.m. - Washington County Government Center February 25 - Reg. Solid Waste Coord. Board 10:30 a.m. - 2099 University Avenue West - St. Paul February 26 - Mosquito Control Commission 9:00 a.m. - 2099 University Avenue West - St. Paul February 27 - Community Corrections Advisory 7:30 a.m. - Washington County Government Center February 27 - Red Rock Corridor 3:30 p.m. - Cottage Grove City Hall March 5 - Metro Transitways Development Board 8:30 a.m. - 125 Charles Avenue - St. Paul . March 5 - Plat Commission 8:30 a.m. - Washington County Government Center March 5 - . 911 Board Executive Committee 9:00 a.m. - 2099 University Avenue - St. Paul *********************************************************** Washington County Board of Commissioners Consent Calendar - February 25, 2003 *Consent Calendar items are generally defined as items of routine business, not requiring discussion, and approved in one vote. Commissioners may elect to pull a Consent Calendar item(s) for discussion and/or separate action. The following items are presented for Board approval/adoption: Administration A. Approval of the February 11, 2003, Board meeting minutes. B. Approval to appoint Gerald J. Johnson, Stillwater, to the Brown's Creek Watershed District Board of Managers to a term expiring October 21, 2006. . C. Approval of amendment of Contract 2137 between Washington County and the Washington Conservation District. This would reduce the contract 2 amount by $48,000 and would eliminate the county's compensation for the Wetland Conservation Act. Community Corrections .. Approval to renew the Joint Powers Agreement between the State of Minnesota acting through its Commissioner of Corrections, Sentence-to-Service program, and Washington County. E. Approval of contract with Lynn Van Blarcum for Multi Systemic Therapy (MST), a juvenile placement alternative intensive in-home therapy program. Community Services F Approval of the 2003-2004 contract with Metro Social Services, Inc. for Adult Foster Care, Homemaker, Independent Living Skills, and Personal Care Attendant services. Transportation & Physical Development G. Approval and execution of a traffic signal and lighting agreement with MN/DOT and Ramsey County for turn back of a portion of T.H. 244 (County Road E) from east of T.H. 61 in the cities of Vadnais Heights and White Bear Lake to T.H. 120 (East County Line Road/Century Avenue) - CSAH 27 (East County Line Road) in the cities of Mahtomedi and White Bear Lake. Upon completion of the turn back, the new highway designation will be CSAH 15 (County Road E). .. Approval to adopt a resolution and support Point Douglas Trail as a igh priority project during reauthorization of TEA-21. . Linda Engh Washington County Administration 3 Phone: 651/430-6010 E-mail: linda.engh@co.washington.mn.us . . . 4 CfRr/f/CI Of 5UR/fY Ld5 7 and 6J [3/ock 7J Holcombe '5 I- ddfiion to the {fiLj of 5fi/wate~ V 1a5h/nqton {O/JntLjJ / ~inne5da, 1 t -., T { L _ .....; ~ - t I I /\ I r'-. T / 1.... '.I \ .._ t eqal tJ e5CTJptlon , , 1-- [Ji'{)a /Ife' " f fi/!f1(I,c;;xJt8 , " r'\ r .( \,,1 \,. "" 15 Addiiim to the Cltij Wa5hinq[a1 Minne5ota, more partic:ularlLf il5 r" , ! ~"\ ", ~ I f" ~ I/'/ f l.. l...." \., / J '\ .. _ I (; 1 V~ad fence , v~wd f el7a, NORtH t--1 ,,,\ 1/<' 1'''- rv" V"\ /" I I \".1 l .... / ....,1 I I I "'.I .:..-: , , " I" I'~ ,'\ 11" ,,* ,,::. -('; ,/ \) I I \,A I _~- ~"""'I~I"""'liU'I"'lil"'''"''M'' - -'T "":=-- D I I lei /" ilc),l)(} ''''II.,'11I1111111I111I111111IIill'''~!~!'!I~IIIII'~~~1I11111IllIill~111I111111111II11111 1IIIIIIIllllllllllllllllllllllllllllllilllll'lIIlllilllllfl~l~ 60,0,0,.. --1 . '-- ~ ~(i:t- 1'-- ~.. ) -f. 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I / ~ I /''\ T r '\ I.. _ \..,/ l ...... 15 Add/tlm to the CftI; 'Of .,>ttllwater, Wa5hlnq[a1 Camilf, Mlnne5ota, more partlc:ular/Ii \ \ follow.?: \ ; 20" 1 I i IRON o e-orner f}I'Od.' mlnut:e5 We5t c:orner 'Of 5ald L-d thl5 deqree.? 39 mlnute5 trJInute5 minute.? rk1ht 'Of wali/tne 'Of We5t Churchill POINf Of f}tCiINNINu' 5ald rlqht waLl 'Q., rmnut:e5 to ana /\;HN I'~' ,.;;a;.iement;y c-Ovdl7ant5 ! f' i \ i (:; I I I --J ~ 'J €) /Vof,e T !OG 00 t \\ Ccncn::te /prm 5!d~'Wd~ o ((om 5urface n'O or c:ompletene5.? 'Of the utliftl; Information 5hown In the area, either In 5ervlr.:e or underqralnd utllltLI Information prior to cc:t15tmc:f;lm, ,,(- Lorner W :3 t hurc hili I tr ? e . I , I l ~ I) Note ----.: < "enter/lne: 2/" 5hown 011 were nd were ((an c wa:3 without a 1ide 5Idew'ali:. Vertical !3enchmark5.' that thl5 the law5 'Of the wa5 prepared me {)( under mil 'Of'Mlnne5ota, and I am a dulLl and I L~(fu/~ A, waft; /(eq N'O, WalU"Lj, Inc, J-2-3- 2<::?O7 tJate '7(,urce, ,'. tAJ{!(f1 !\{/ MELCHERT WALKKY landscape architecture civil engineering land surveying 749 Highway 12 Hudson. WI 54016 Phone (715) 386- Fax (715) 386-7889 MELCHERT WALKKY ~n y~ gfi hit t-:;n ~n li~ ~H !in 70 ~i'i,1J.rl!!n di ::fllYn ~TI ~i1 Yn bit kfl Yij J~!..t ~if ~If bii 'til ::"I~ii 4n iit= t 11 II SHEET 1 OF 1