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14a. Trunk Highway 212 toll Road ProposalC 0 u I � L' I 0 I C I Don Chmiel, Mayor City of Chanhassen BY FAX AND MAIL 690 Coulter Drive 937 -5739 Chanhassen, MN 55317 Don Ashworth City Administrator BY FAX AND MAIL City of Chanhassen 937 -5739 690 Coulter Drive Chanhassen, MN 55317 RE: T.H.212 Toll Road Proposal Dear Don and Don: In the course of our efforts to communicate to the public about the T.H. 212 Toll Road proposal, we are aware of a couple of concerns about the governance of the project during and after construction. The following are a couple of positions which we are proposing for consideration by the Cities of Eden Prairie, Chanhassen and Chaska and Carver County as they each evaluate their position concerning the proposal. Please review these ideas and give us your thoughts about whether they are acceptable to you. They are as follows: 1. An institutional trustee (bank) will oversee disbursement of all bond proceeds during and upon completion of construction of the project. The trustee will also oversee toll revenues following completion of the project until the bonds are fully paid. 2. Interwest DLR Group /Infrastructure Corporation and 212 Community Highway Association are both agreeable to the creation of a joint powers agency, comprised of those local units of government wishing to participate, which will assume responsibility for ownership and operation of the project upon completion of the project RECEIVED RJL100115 ' TH195 -1 FEB 141996 CITY OF CHANHASSEN /el- _ KENNEDY & GRAVEN,, lz CHARTERED Attorneys at Law CORRINE H. THOMSON 470 Pillsbury Center, Minneapolis, Minnesota 55402 JAMES J. THOMSON ROBERT A. ALSOP (612) 337 -9300 LARRY M. WERTHEIM BRUCE M.BATTERSON BONNIE L. WILKINS RONALD H. BATTY Facsimile (612) 337 -9310 JOE Y. YANG STEPHEN J. BUBUL DAVID L. GRAVEN (1929.1991) JOHN B. DEAN DANIEL J. GREENSWEIG DAVID J. KENNEDY OF COUNSEL CHARLES L. LEF EVERE WRITER'S DIRECT DIAL ROBERT C. CARLSON ROBERT L. DAVIDSON JOHN M. LEFE VRE, JR. WELLINGTON H. LAW ROBERT J. LINDALL CURTIS A. PEARSON ROBERT C. LONG JAMES M. STROMMEN February 12 , 1996 T. JAY SALMEN Don Chmiel, Mayor City of Chanhassen BY FAX AND MAIL 690 Coulter Drive 937 -5739 Chanhassen, MN 55317 Don Ashworth City Administrator BY FAX AND MAIL City of Chanhassen 937 -5739 690 Coulter Drive Chanhassen, MN 55317 RE: T.H.212 Toll Road Proposal Dear Don and Don: In the course of our efforts to communicate to the public about the T.H. 212 Toll Road proposal, we are aware of a couple of concerns about the governance of the project during and after construction. The following are a couple of positions which we are proposing for consideration by the Cities of Eden Prairie, Chanhassen and Chaska and Carver County as they each evaluate their position concerning the proposal. Please review these ideas and give us your thoughts about whether they are acceptable to you. They are as follows: 1. An institutional trustee (bank) will oversee disbursement of all bond proceeds during and upon completion of construction of the project. The trustee will also oversee toll revenues following completion of the project until the bonds are fully paid. 2. Interwest DLR Group /Infrastructure Corporation and 212 Community Highway Association are both agreeable to the creation of a joint powers agency, comprised of those local units of government wishing to participate, which will assume responsibility for ownership and operation of the project upon completion of the project RECEIVED RJL100115 ' TH195 -1 FEB 141996 CITY OF CHANHASSEN 3. In the event it is agreed that a joint powers agency should be created, upon completion of the project and MDOT approval of the project as completed, the board of directors of the Association will resign and the joint powers agency will assume responsibility for operation. 4. The Association would be happy to immediately accept an agreed upon number of additional directors as the representatives of the local units of government. Ve tru you , Robert J. nda 1 RJL:ds CC: Mike Mason Steve Berquist Mark Senn Colleen Dockendorf RJL100195 TH195 -1 KENNEDY & GRAVEN � � a; � CHARTERED E'°°' Attorneys at Law. CORRINE H. TIIOMSON 470 1 Center, klinneapolis, Minnesota 55402 ,JAMES J. Tno%ISON ROBERT A. ALSOI, (612) 337.9300 LARRY M. WERTHEIM ' BRUCE M. BATI'FRSON BONNIE. L. WILKINS RONALD 11. BAITS F acsimile (612) 337.9310 JOE Y. YANG STEPHEN .J. III DI'L DAVID L. GRAVEN (1929 -1991) JOIIN B. DEAN - DANIFL J. GREFNSWFIG ' C. DAVID J. KENNEDY OF C R IL�RLF, 1. S . LF.PI :�F :RF: ROBERT ROBERT C(' ('ARLSON (' HA C L l.r :PFD EVER. WRITEWS DIRECT DIAL. ROBERT L. DAVIDSON ROBERT .I. LINDU.I. WELLINGTON 11. LAW ROD :RI'C. LONG February 19, 1996 CURTIS A. PEARSON ' JAMES M. S ROMM1IF.N T. JAY SALMEN ' Don Chmiel Mayor BY FAX AND MAIL City of Chanhassen 937 -5739 7100 Tecumseh Lane Chanhassen, MN 55317 RE: T . H . 212 Proposal Dear Don: Enclosed herewith is a proposed form of resolution for consideration by the City Council of the City of Chanhassen. If it is possible for you to act on the resolution before February 27, 1996 it would be great. It would be nice for you to be able to report that the resolution has been adopted at the time you speak to the Eden Prairie council. Also, Interwest will wish to include the signed resolution in its packet for submission to MDOT on February 29, 1996. If you have any questions about the resolution or believe it would be desirable for someone to attend the meeting at which it will be considered, please give me call. ' Enclosed is a document "Summary of Public Attitudes Toward Proposed New Highway 212 in Chanhassen, Chaska, Eden Prairie and Carver County. It was prepared to summarize polling results obtained by the New T. H. 212 Toll Road ' Proposal Team through February 13, 1996. The polling was done by North Star Interviewing under the supervision of University of Minnesota Professor Albert R. Tims . Mr. Tims and North Star Interviewing were retained by Padilla Speer Beardsley, Inc. ' Also enclosed is an article written by MDOT Adeel Lari which appeared in the current issue of "Infrastructure Finance." ' Thank you for your cooperation and assistance. Very ,AtTly yours, Robert J. Lindall i RJL:ds ' RJL100559 TH195 -1 O FEBR(AgRy1,1L.1RCH 1996 _ T RANSPORTATION - -- -- ----- - - - POWER E TELECD MM UNICATIONS III to Chin up 111 the evc rat - Af tl mr -� tlt� 11 . r_►I ►lr , ��l, the 111\ y . , ..`t'r�Itlr�r l ��ltll� -,,t itl , l_l[llli►1![t(?tl ,Ir� .. the 10 iji t re at iv, e r !6! �f 1995 . �t , ��►�ia [If.)tls n ►gin- Ii r tllf_) r ill Pr_ ► � , rtia ..... ..�j�„r l�r��jrc� ti►�,�ncin�, h a k*t , HOI llad nl�zturitit: FEB-16-96 - R1 14 :03 I t!: FEATURES CASI 17 Troubling Projects Myanmar's Yadana gas field raises the question: Should companies do business with regimes that violate basic human rights. COYU smr 31 The 10 Most Creative Deals of 1995 EVott credit and multilateral agencies around the world muscled project finuice out of fast guarter weakness CONTRACTS 30 Opening Up the aids At this point in the mare toward private investmerrc in large projects, a competitive bidding process is the only one that works LATIN AMBMCA 36 Turning on the Tops I-2tln Anwrfcan govusttments are opening up water treatment and supply to foreign concessionaires. rovan 41 India vs. Pakistan Pakistan's long and painful negotiations with the Hub River Co. have placed it higher on the IPP learning curve than neighboring India. MANSPORTATtoN 47 tack of Direction Bangkok's wJk troubles are exceeded only by the aovrernmenes lack of planning in solving them. P. 03 Filintill DEPARTMENTS S Editor's Page 7 Dealmakers Michael G.g *z& of rho Urban water butimm Hambros Bank's Roger Moumtford; Russia's former deputy prime minister Anatoly Qnubak Brent Scowuaft of the Forum tb[ Polley, SeereWY of State for Scotland Michacl Forsyth 12 U.S. in Focus The Private Business Test Thu IRS comuiders new regulations on =exempt. financing. Pubfic Woria' Education m Mionesuts Explaining why toils are needed an ease voter resistance. 52 Government Watch New Energy in Pakistan Pakistan's program for privatr invatntent in new capacity has excocded cgxcta6onL SS Projects in the Pipeline INDUSTRY focus 59 t"NSrORTATM Road Work Brazil hopes to attract more than $6 billion is private investment 63 Iomit Yankee Invasion US un'lities have a big sake in Am uafia's clectrk power privatization. i 1 People Moves 84 Diary of a Deal By G Roger Moss of Mass Transit Raw-ay Corp. b.err. i� alp Modrr /Y/wrw 1�. r Mr 10002 t�an� RI21721.3J00. a wd r rcr�d doe rake e n pr� �+v� Ca�adoe C,sod< ad S.yirr Ts� irw�br R12100�01. SU�SC4P110rk w pip. P�'�i � Nw+ Yarl� MY� end dd�anal �a J30t1. S"'¢o ape. S13 - may +�s,d � Spoat �+rw �paod Ivy a� � bk. o.viob�e u'on Iaquef. � rc 0 t.�n >r.�Mr. k w .1v+� r in pr.�6w� �i�n� �.as �� Pb ww� i� !w nopaae n �o ba �an�d a �4 k., MI i AgMia, Nwr 1•.�{, rfy 10073, M b �,� y �� ond'•�� a�.aS�q lo6r, i /osb(o, /p9IMASTI! /Iwr rJ ..Yew. dy.. w I..VAd.wJ 0 7 1 �+rwd 61 Wad Caner A>�. raMeo. (tin.it. Febcuary/March 1996 - Vol. V, .-to. 1 41 M ap 47 �� -. �.�.,+..to FEB -16 -96 FRI 14:03 lem on several levels. First, tinder the proposed regulations, all rev. enues from the bond - financed facili- ty must be allocated proportionately to every source of debt issu for the facility. Revenues cannot be allocac ed specificalk to the twcable bonds. Fiow•ever, they may be allocated to reimbursement for egtdry contribut- ed to pay costs of the facilia• before they are allocated to debt. also, the proposed regulations would prohibit the division of a sradi- tim into public and private otnenhip Interests in app4ing the private busi• new teas, The proposed regulations would also treat taxes imposed only on ticket sales at the bond-6nanced ficili- tv as private payments. The trip from Cleveland to Halti. P. 04 more is not far. Unfortunately, the Browns may find that the journey includes an unwanted detour through the regulatory mazes of washington. Milton Wah.rchlag v a parolee in the SeadiUMF(Wna GrOup at KaUm +~!whin G" Zav's, Chicagn. Crmre Pis, Brian cllcGough, Gerald Penner and HmM Richard hepsid pribmw d w an & Public Works' Education in Minnesota ew states have implemented con- gestion pricing and tolls without experiencing vociferous public protest. Most efforts have either stalled or have been abandoned Min• nesota entered the road-pricing foray in 1994, when its State Legislature mandated a Congestion/Road Pri Surd'. The goal for the state's Depart ment of Transportation (,%L.- /DOT) was to determine the feasibility of implementing road pricing in the sate and to understand public attitudes about road-pricing concepts. The state already Mew fronts per- sonal experience that charging for the road or user lets have not been popu- lar concepts. Past studies conducted in other states and abroad also informed us that while transportation Planners and economists favored road pricing. there were barriers to imple- mentation. Our study compiled detailed information on what those barrier were as a way to determine if there wus a war to overcome them. Minnesota is grappling with inad- equate revenues to meet growing transportation needs. The severity of the situation was revealed in 1991. when the Metropolitan Council, the transportation- planning authority for metropolitan Minneapolis and St Paul, deleted close to SY billion Of projects from its long-term plan, including several major freeway I improvements and light rail transit I initiatives. Statewide, close to $5 bil- lion of transportation projects are unfunded. The state is also facing growing con gestion, which is expected to increase travel times by 40 to 30 percent within 20 years. Yet. public perception is that the state currently does not have a con- gestion problem. (This irony may be I due to the state's successful and exten- sive use of ramp Qtetering— control- 14 1 VARLAity /%L4ACK 1996 ling the number of vehicles that enter the &CC% y to covert mainline conges- don to freeway ramps.) Road Pricing The first step in the Road Pricing Study was to educate the public on the ' state's trwuporation funding process and needs. Despite an atmosphere of government misuuu and skepticism toward trutsportation funding probe leins, the challenge was to solicit input and support through public discourse about road pricing and tolls. That communication initially took the shape of one-on-one meetings with state. county, and city Mans - portation planners, news releases and media editorial board visits, S eral major barriers to implementing congestion pricing were identified through these efforts, including: opposition to new tares; confusion over the goals of congestion pricing; lack of adequate alternatives for sin- gle occupancy vehicle travel, con- cerns with sotto - economic equity impacts and concerns about the impact of electronic tolling technolo- gy on privacy. Currently. Minnesota transports. tion revenue is collected from a motor fuel or gas tax, as well as from vehicle 1 egistranon fees The net revenue is dedicated to highway purposes. Although the gas tax is the state's major revenue source, the rate has remained the same for close to eight years. Transit interests are reluctant to increase the gas tax because such action would not solve their funding shortfall as gas tax revenues are dedi- cated to highway use only. In part, as a result of this stalemate over the gas tax, the Sate Legislature passed it law in 1993 that allowed public road authorities to build toll facilities or enter into public - private partnerships for colt projects. Th law also gave comtaunities local veto Power over potential toll prciccts. Two years later, the state issued its recgtiest for proposals (RFP) to build W facilities. Uncertainty surrounded the question of pricing. lvfrrrne:sota's only e-`tpericnce with tolls has been limited to three p'iyucly Operated too bridges. The few polls taken to gauge public reaction to t0113 were not encouraging. The RFP was written to ensure public tmvnhement by requiti ing developers to consult local com- munities before the state can negotiate any contract Five proposals for toll projects, totaling W billion, were submitted last November. The process is now in the public discussion stage. To date, no significant opposition to the prof ects has developed. In spite of a reluctance to raise the existing gas tax, sate legislators and governing officials are willing and committed to finding alternative sources of transportation funding. In addition, a specially called bipartisan legislative cotnmitrce comprisin key community leaders spent a year study- ing means of funding major trans - portadon projects In February 1995,. the committee recommended imple. meriting a toad- pricing system to fund major transportation projects by the year 2000. Also, in 1995. the Minnewa Sate Legislature required MN /DOT to consider alternative financing for pro, ects costing more than $10 million. Meanwhile, our summary report was presented to the Legislature in Jan- uary. The completed Congestion /Rood pKd*Studj will be available sometime in June. ■ Adeel Lori is diseaorofW/Wrj Offer ofAknwadw Tr n*mtaUmFmou.C. FEB -16 -96 FRI 14 :02 A FACSIMILE MESSAGE ARM ROBERT E. FARRIS Irtt b anal Tr� rts�� Consultant 140 G Sank N11U. Sine 700 . Wad iVw% OC 3000 &nu Tak =/67644 . FCC 2=frjT_nn PLEASE DELIVER AT ONCE T+a COMPANY/OFFM FAX NUS TEURNiOM NUMBER; TMS IS PAGE 1 OF A 4 ROBERT LOiDALL KENNEDY A GRAVEN •12/x!"/► 9316 612/337 -9300 PAGE TRANSMISSION P. 01 TIME SENT: 1 406 EST DAY SEW. F ebVWy 16, 19" Fac*nme Opmws initials: Cam Nw.75882W07010 PLEASE CALL 20711.3903 iF TRANSMISSION IS NOT COMPLETE OR IF THEM IS AN ERROR MESSAGE: Bob: Aetedud is in a dde 1 mertWW till Summary of Public Attitudes Toward Proposed New Highway 212 In Chanhassen, Chaska, Eden Prairie and Carver County Survey Methodology Two waves of telephone research assessed community attitudes toward toll road policy, transportation needs and specifically the proposed New 212 Community Highway. The polls were conducted January 3 -7 and February 9 -13 by Northstar Interviewing. University of Minnesota professor Albert R Tims, Ph.D., conducted discriminant analysis on the data to identify the most important findings highlighted in this Executive Summary. A total of 600 interviews were completed in the communities, with 150 randomly selected respondents from each of the four affected communities. The samples included residents eligible to vote in each city's elections. For Carver County, the sample included an area surrounding Cologne and extending from just west of Chaska to approximately Norwood Young America. The maximum margin of error in the survey is ± 4% for the combined sample. Content of the Survey The instrument was designed to assess residents' driving patterns; their perceptions of traffic in the area and their expectations about future traffic on their roads; the solutions they think would be helpful; attitudes about funding highways; awareness and attitudes toward the state's toll road policy; awareness and initial reaction to the proposed New 212 Community Highway; responses to various views about the project; their predisposition to support/oppose the project and their intention to use/not use the toll road when completed. Key Findings The private vehicle is by far the most common L= Ano mode in the Southwest communities, with only 5% of those who say they commute regularly beyond 494 and Highway 5 saying they use mass transit, a car pool or have one or more passengers on a regular basis. This is reflected in the strong preference for solutions to try: is congation that favor iWIQmobilrj. When asked to suggest the "most useful thing" that could be done to ease traffic congestion, 47% volunteered "add more traffic lanes" and 13% said "build new highways ". Other solutions such as increased car pooling, mass transit or light rail were ' each suggested by about 10% of the respondents (multiple suggestions were allowed). ' Area residents arc very concerned about future traffic congestion_ When rating the ability of existing highways in the area to handle the projected 30% increase in traffic in the next decade, 70% rated current roads as "poor" or "very bad ". Southwest area residents prefer by 60% - 3 that "needed new higb&Us be paid for primarily by those who use them" rather than "having everyone pay more into a general fund distributed to projects around the state ". Several indicam of ma=Css of toll mad Dolicv. awareness of the New 212 nro_nosal ' and public support for the proposal improved in a statiticWly Sigoifig= way be e n the January and February pollin These changes took place during a time when the New 212 team was actively presenting the proiect to elected officials, to metro and local news media, and in open houses for the public in all the affected communities. In one case, public &WrgnC5s im p E oved 6% from January 7 - February 9 regarding the gates p olicy t consider toll roads as an option for major new highways. There was no change during the period in the attitudes of residents about this policy. Results show residents are equally divided with 46% saying the policy is "a good idea" and 44% saying it is "a bad idea". When area residents are presented with the choice state policy makers face today -- either building needed new highways with tolls or not building any new highways for 10 -20 years -- 70% say needed new highways should be built with tolls. When this concept is brought home to their community, people are initially divided ort whether a toll road is a go od idea for the proposed New 212 route, with 43% saying it's "a good idea" and 45% saying it's "a bad idea". After hearing new information and considering the issue from different perspectives during the survey, Southwest area residents arc more favorable than their initial positions suggest. A mAjorily of respondents (60 %), final position is a 2 -1 ��1Y w o say they "support" or "strongly m=rt" the proposal compared to those who say they "oppose" or "strongly oppose" it. One the other hand, a 2 -1 majority of areas res idents say thgy yyQ ld use the a ist n roads rather than the toll road with an approximate toll of 10 -cents per mile. Encouraging Outlook For Public Support The polling has helped the New 212 Community highway development team isolate the information needs and public policy concerns of area residents. It also statistically validates the strong anecdotal support we heard at open house meetings from February 5- 8. Exit polling from the open houses shows that supportive and positive public comments represent a majority in each of the four communities. That supportive majority mrigo from just above 50% in Eden Prairie to about 2 -1 in favor in Chaska and Chanhassen an unanimously in sugpud at the County open hous in Norwood Young America, In addition, the second wave ofresearch suggests that a coordinated effort to clarify the need for the project and the content of owe proposal will increase citizen awareness and improve the levels of support for the project. With existing support and awareness levels already at a high level, these trends suggest that elected officials will feel little constituent pressure to oppose the project. The research demonstrates there is sufficient public support -- both current and potential — to justify continued development of the project and continued participation by MnDOT. 40367_1 r introduced the following resolution and moved its adoption: CITY OF CHANHASSEN RESOLUTION NO. ' RESOLUTION SUPPORTING CONSTRUCTION OF PROPOSED NEW TRUNK HIGHWAY 212 AS A TOLL ROAD 1 r WHEREAS, the City of Chanhassen ( "City ") is a Minnesota municipal corporation which is responsible for the public health, welfare and safety of its residents, and r WHEREAS, the City is located adjacent to T. H. 212 and its residents depend upon T. H. 212 and T. H. 5 as their principal connections to the Minneapolis -St . Paul area; and ' WHEREAS, the City has cooperated with and supported the efforts of the cities and counties within the T. H. 212 corridor and the Minnesota Department of Transportation ( MNDOT) in efforts to obtain construction of New T.H. 212; and ' WHEREAS, the centerline for New T. H. 212 was first identified by MNDOT in 1967; ' WHEREAS, the construction limits for New T. H. 212 were reserved on the comprehensive plans of Eden Prairie, Chanhassen, Chaska and Carver County in r 1987; and WHEREAS, Carver County and the Cities of Eden Prairie, Chanhassen and Chaska provided financial and technical assistance to MNDOT to assist in the r completion of the Environmental Impact Statement (EIS) for New T. H . 212 from I -494 to Chanhassen; and WHEREAS, the New T. H. 212 project has been included in numerous MNDOT construction programs that proposed construction in 1993 and previous years but the project has never been funded; and ' WHEREAS, the 1996 -1998 State Transportation Improvement Program (STIP) includes a project that will construct one mile of the 18 mile New T. H. 212 project; and r WHEREAS, the State of Minnesota and the federal government have both indicated that neither is likely in the foreseeable future (i . e. , before 2015) to be able and willing to appropriate sufficient funds to enable construction of New ' T.H.212; and WHEREAS, it currently seems unlikely that the Minnesota Legislature or r Congress will appropriate sufficient new highway funding to assure construction of New T. H. 212 prior to 2015; and r WHEREAS, in recognition of the lack of sufficient future state and federal funding, the Metropolitan Council's transportation plan for the year 2015 indicates ' RJL100682 TH195 -1 that New T. H. 212 will not be completed west of Eden Prairie Road ( Hennepin County Road No. 4) prior to 2015; and WHEREAS, there is presently heavy congestion on T. H. 5 and existing T. H. 212 for substantial periods of each day; and WHEREAS, traffic on T. H. 5 at Powers Boulevard was 250% greater in 1994 than it was in 1988; and WHEREAS, existing T. H . 212 between I -494 and Chaska is subject to a number of unsafe conditions which, together with heavy traffic and heavy truck traffic, cause this segment of highway to be among the least safe highways in the State of Minnesota; and WHEREAS, the City is convinced that New T. H. 212 must be completed from I -494 to old T. H . 212 west of Chaska as soon as possible and in any event before 2015; and WHEREAS, MNDOT has solicited proposals for construction and financing of new highways as toll roads; and WHEREAS, the Interwest /DLR Infrastructure Corporation ( "Interwest ") and 212 Community Highway Association ( "Association ") have submitted a proposal to MNDOT for construction of New T. H. 212 as a tollway ( "Interwest Proposal ") ; WHEREAS, Interwest and Association have requested that City endorse the Interwest Proposal as being in the best interests of the City; WHEREAS, the Interwest Proposal is the only proposal submitted to MNDOT for construction of New T.H. 212 as a tollway; WHEREAS, it is in the best interests of the City that New T. H. 212 be constructed as soon as possible; and WHEREAS, it is not likely that New T. H. 212 will be constructed before 2015 if it is not constructed as a toll road. WHEREAS, the Interwest Proposal contemplates that: All existing routes (including, but not limited to, existing T. H. 212 and T. H. 5) will remain open and available for use without charge after construction of New T. H. 212; Due to diversion of traffic to New T. H. 212, existing T. H. 212, T. H. 5 and other alternate routes are likely to be substantially less congested if New T. H. 212 is built than if New T. H. 212 is not built; Because New T.H. 212 will be built in 1997 under a single negotiated construction contract, it should be built at a substantial savings as compared with the cost if built over several years and pursuant to several publicly bid contracts; P L100482 TH195 -1 2 Because the bonds will be revenue bonds secured only by toll revenues, ' real property taxpayers will have no risk of incurring a tax levy to finance any deficiency in toll revenues; The bond indenture will include a covenant entitling the State of ' Minnesota to satisfy the remaining indebtedness under the bonds at any time, take title to the project and eliminate the duty to pay tolls; - New T. H. 212 is proposed to be a four lane, divided expressway with grade separated intersections, which will be partially or totally depressed in most locations; 1 - Two lanes will be added to T. H. 5 between Wallace Road and I -494 (which will be useable without payment of a toll) at an earlier time than would otherwise be proposed by MNDOT; - All previously existing roads crossing the proposed New T. H. 212 right of way will continue to cross New T. H. 212 (by means of grade separated crossings) after its construction; Berms, other sound abatement techniques, landscaping and other measures will be utilized to mitigate any adverse impacts of New T. H . ' 212 to adjacent property owners; A trustee bank will oversee disbursement of all bond revenues during ' construction and all toll revenues until the bonds are fully paid; The owner - operator of the tollway will be Association, a non - profit corporation (unless a joint powers agency is agreed upon to replace the following construction) ; and Construction of New T. H. 212 as a toll road will require a much smaller investment of public funds than if the project were funded solely by federal and state funds. NOW THEREFORE, BE IT RESOLVED, that the City supports the Interwest Proposal to finance, construct, operate and maintain New T. H. 212 as a toll road provided that, notwithstanding the foregoing, City does not hereby waive its rights ' pursuant to Minn Stat § 160.85, Subd. 3. The motion for the adoption of the foregoing resolution was duly seconded by Member and upon the vote being taken thereon, the following I voted in favor thereof: and the followin g g voted against same: TH195 -1 3 Whereupon said resolution was declared duly passed and adopted. Dated: , 1996 Mayor Attest: City Clerk RJL100482 TH195 -1 4