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1. 1991 Bonds Springsted T 1 Confirming Recommendations For City of Chanhassen, Minnesota $1 ,700,000 General Obligation Improvement Bonds, Series 1991A ' $1 ,685,000 Taxable General Obligation Tax Increment Bonds, Series 1991 B ■ $575,000 t General Obligation Tax Increment Bonds, Series 1991 C $1 ,165,000 General Obligation Municipal Building Refunding Bonds, Series 1991 D 1 $1 ,405,000 General Obligation Improvement Refunding Bonds, Series 1991 E I I I 1 Study No. 3925 ' SPRINGSTED Incorporated September 24, 1991 Il SPRINGSTED Ir, . PUBLIC FINANCE ADVISORS 16655 West Bluemound Road 85 East Seventh Place 6800 College Boulevard I Suite 290 Suite 100 Suite 600 Brookfield,WI 53005-5935 Saint Paul,MN 55101-2143 Overland Park, KS 66211-1533 (414) 782-8222 (612) 223-3000 (913) 345-8062 Fax:(414)782-2904 Fax: (612)223-3002 Fax:(913)345-1770 I 2739 Second Avenue S.E. 222 South Ninth Street Cedar Rapids, IA 52403-1434 Suite 2825 (319) 363-2221 , Minneapolis,MN 55402-3368 Fax: (319)363-6999 (612)333-9177 Fax:(612)333-2363 1 September 24, 1991 I Mayor Donald Chmiel I Members, City Council Mr. Donald Ashworth, Manager Chanhassen City Hall 690 Coulter Drive IChanhassen, MN 55317 I Re: Confirming Recommendations for the Issuance of: $1,700,000 General Obligation Improvement Bonds, Series 1991 A (Series 1991 A Bonds) $1,685,000 Taxable General Obligation Tax Increment Bonds, Series 1991B I (Series 1991 B Bonds) $575,000 General Obligation Tax Increment Bonds, Series 1991 C (Series 1991 C Bonds) $1,165,000 General Obligation Municipal Building Refunding Bonds, Series 1991D (Series 1991 D Bonds) I $1,405,000 General Obligation Improvement Refunding Bonds, Series 1991 E (Series 1991E Bonds) IWe respectfully request your review of our recommendations confirming the City Council's actions at the September 16, 1991 meeting to go forward with the sale of these issues. The Official Terms of Offering for each issue is attached. Each issue will be discussed separately, with items common to all to follow. 1 $1,700,000 General Obligation Improvement Bonds, Series 1991A The Series 1991A Bonds are being issued in accordance with Minnesota Statutes, I Chapters 429 and 475. The City Manager has provided us with costs associated with two improvement projects currently underway in the City for Minnewashta Street and Chanhassen Lakes Business Park 5th Addition. The Minnewashta Street project is expected to begin this I fall and be completed in the spring of 1993. The Chanhassen Lakes project is nearing completion. Attached as Appendix I of these recommendations is a list of project costs and the composition of the bond issue. I Appendix II is the projected assessment income for these projects. Special assessments in the total principal amount of$111,035 for the water portion and $71,135 for the street portion of the Chanhassen Lakes Business District were filed August 26, 1991 for first collection in 1992, with I principal spread over eight years and interest on the unpaid balance charged at a rate of 8%. Special assessments in the principal amount of $406,600 are expected to be filed on or by I ICity of Chanhassen, Minnesota September 24, 1991 ISeptember 1, 1993 for first collection in 1994 for the Minnewashta project. Assessments will be spread over eight years at an interest rate of 0.5% over the net rate received on the bonds. I This projection of assessment income assumes no prepayments, deferments or delinquencies, and we assume payments will be received as projected over the term of the assessment. To the extent that there are prepayments, deferments or delinquencies, this income schedule would change. IBased on the projection of assessment income, we have developed Appendix Ill, which sets forth the recommended maturity schedule for this issue. The Series 1991 A Bonds are dated I November 1, 1991 and mature February 1, 1993 through 2002. Interest rates in column 4 are current market rates and are subject to change between now and the sale date of the bonds. Column 5 is the dollar extension of those rates, and column 6 is the total principal and interest due on the bonds. Column 7 is the projection of total debt service including a 5% overlevy. I This overlevy is required by Minnesota Statutes and is a protection to the City and the bondholders in the event that 100% of the projected income is not received. To the extent a surplus is developed in the debt service account, the overlevy requirements may be reduced or Ieliminated. Column 8 incorporates the projected assessment income from Appendix II. The City also I anticipates the receipt of $300,000 of MSA funds in 1994, which would be available to pay the 1995 debt service. We have spread this amount evenly over two years, as shown in column 9, to minimize any negative impact should the entire amount not be received in 1994 as anticipated. Column 10 shows the total income to be received from special assessment I collections and MSA receipts, and column 11 shows the net tax levy required on this issue of approximately$132,000 per year. I We have not included any capitalized interest in the issue, which is used to pay debt service prior to or in addition to the receipt of project revenues. Capitalized interest would normally be included in the issue because of the levy period prior to adoption of the Minnewashta I assessment roll. Capitalized interest was not included because of the receipt of assessments from the Chanhassen Lakes Business Park and the scheduled annual property tax levies over the life of the issue. I The total project costs for Chanhassen Lakes Business Park, including financing, is approximately $200,000 with special assessments totaling approximately $180,000. Based on discussions with City staff, we understand it is the City's intention to fund the first year's net I requirement of approximately $133,000 with a transfer of funds from the City's Housing and Redevelopment Authority ("HRA"), not with a tax levy. This transfer represents a contribution from the City's Tax Increment Financing District No. 1 ('TIF No. 1") to augment special assessments. IThereafter, each August 1 interest payment is expected to be paid from first-half collections of special assessments and taxes, with subsequent February 1 principal and interest payments to I be made from second-half collections of assessments and taxes, together with surplus first-half collections. This payment cycle will continue for the life of the Series 1991A Bonds. I We have included an allowance for underwriter's discount of$15/$1,000 bond, or$25,500. The discount provides the underwriters with all or part of their profit and/or working capital for purchasing the issue and permits them to reoffer the bonds to the investing public at a price of par. The City has successfully used the discount bidding approach in the past, and we Irecommend its continued use herein. We recommend that bonds maturing in the years 2000 through 2002 be callable at the option Iof the City on February 1, 1999. This represents approximately 30% of the issue. IPage 2 City of Chanhassen, Minnesota September 24, 1991 $1,685,000 Taxable General Obligation Tax Increment Bonds, Series 1991 B The Series 1991 B Bonds are being issued pursuant to Minnesota Statutes, Chapters 469 and 475. The proceeds of this issue are being used to finance land acquisition costs within TIF No. 1 for resale to private developers, and as such, are considered "taxable". The composition of this issue is set forth in Appendix IV. Appendix V is the recommended maturity schedule for the Series 1991 B Bonds. The Series 1991 B Bonds will be dated November 1, 1991 and mature each February 1, 1994 through 2001. Columns 1 through 7 show the years and amounts of principal and estimated interest due on these bonds. The first payment on this issue is an interest payment due August 1, 1992 in the estimated amount of $104,706 which will be payable from existing increment income of TIF No. 1. Subsequent August 1 interest payments will be made from first- 1 half collections of increment income, with each February 1 principal and interest payment to be made from second-half collections of increment income together with surplus first-half collections. This payment cycle will continue for the life of the Series 1991 B Bonds. TIF No. 1 has numerous outstanding debt and contractual obligations which present demands on the revenue stream of the TIF No. 1 District. This new issue will present an additional ' demand on that revenue stream. The City staff has prepared an update of the City's Master Debt Analysis Report for all TIF Districts. This update, dated September 16, 1991, presents new estimates of revenues and expenditures for TIF No. 1. Based on these estimates, this new issue has been structured to accommodate the projected cash balances of the TIF No. 1 ' District. The average annual debt service on the Series 1991 B Bonds is estimated to be approximately ' $297,600. Annual tax increment revenues collected from TIF No. 1 are expected to be sufficient to cover all debt service requirements. The City does not expect the need to make a tax levy for this issue. As a result of discussions with the City Manager, this issue includes an aggressive call feature, allowing the 1999 through 2001 maturities, representing approximately 45% of the issue, to be callable on or after February 1, 1998. The City may call the Series 1991 B Bonds at that time ' should there be a surplus of increment income and/or market conditions warrant. Also included in this issue is the underwriter's discount allowance of $25,570, representing approximately$15/$1,000 bond. $575,000 General Obligation Tax Increment Bonds, Series 1991 C These bonds are being issued pursuant to Minnesota Statutes, Chapters 469 and 475. The proceeds will be used to finance eligible project costs of improving Audubon Road located within the City's Tax Increment District No. 2-1 ('TIF No. 2-1"). The composition of this issue is as follows: Total Project Costs* $737,500 ' Less: Net Proceeds of TIF Bonds of 1988 (160,000) Subtotal $ 577,500 Less: Estimated Investment Earnings (2,500) Net Bond Issue $ 575,000 * Includes issuance costs and allowance for underwriter's discount. ' Page 3 ICity of Chanhassen, Minnesota September 24, 1991 1 As the project costs are for the construction of"public" improvements, this issue can be sold as a "tax-exempt" issue. ' Appendix VI is our recommended maturity schedule for the Series 1991 C Bonds. The structuring of this TIF issue is similar to the previous issue in that it conforms to the City staff's update of the Master Debt Analysis Report for TIF No. 2-1. The bonds will be dated I November 1, 1991 and mature each February 1, 1993 through 1998. The Series 1991 C Bonds are expected to be fully supported by tax increment income from the City's TIF No. 2-1. Due to the shortness of this issue, we do not recommend a call feature be included, as it may detract I from the marketability of the bonds. A discount of $7,188, or $12.50/$1,000 bond, is included in the principal amount of the issue which will help to maintain the low coupon rates of the bond issue. I $1,165,000 General Obligation Municipal Building Refunding Bonds, Series 1991 D I The Series 1991D Bonds are being issued pursuant to Minnesota Statutes, Chapter 475. In June, 1980, the City issued $1,510,000 General Obligation Municipal Building Bonds of 1980 (the "1980 Bonds"). The net interest rate on the callable 1980 Bonds maturing 1992 through I 2000, in the principal amount of$1,140,000, is 7.58%. Based on current market conditions, it is our recommendation the City proceed with the sale of this current refunding. We estimate the 1980 Bonds can be refunded at a net interest rate of 5.97%. I This issue is considered a "current" refunding since the first call date (August 1, 1989) has passed and the bonds will be called within 90 days of the issuance of the Series 1991 D Bonds. The 1980 Bonds maturing in the years 1992 through 2000 will be called and prepaid on the I next interest payment date of February 1, 1992. The City will make the February 1, 1992 interest payment on the 1980 bonds as originally planned and will begin to pay debt service on the Series 1991D Bonds on August 1, 1992. I Appendix VII-1 is a breakdown of the anticipated sources and uses and anticipated savings for this issue. Appendix VII-2 shows the existing debt service of the 1980 Bonds, with Appendix VII-3 representing our recommended maturity schedule for this issue. The I Series 1991 D Bonds will be dated November 1, 1991 and will mature each August 1, 1992 through 2000. Debt service is expected to be paid from annual tax levies, as originally pledged to the 1980 Bonds. The first principal and interest payment due August 1, 1992 is expected to ' be paid from first-half tax collections. Subsequent February 1 interest payments will be made from second-half tax collections, together with surplus first-half collections. This payment cycle will continue for the life of the Series 1991 D Bonds. Appendix VII-4 shows the estimated savings to the City of approximately $65,702 over the life of the issue. This savings level has a Ipresent value in today's dollars of$51,500, or 11.3% of refunded interest. The Series 1991 D Bonds as structured includes all costs of issuance, bond discount and rating I fees. All savings estimates are net of these costs. To account for the actual underwriter's discount on the Series 1991D Bonds and actual costs of issuance, which may differ from the assumptions made in these recommendations, we have included a provision in the offering to I permit the City to increase or decrease the principal in any of the maturities, not to exceed $10,000, to offset any fluctuation. Interest rates can change rapidly with changing market conditions and the City reserves the I right to cancel the sale of the Series 1991 D Bonds or reject the bids received if interest rates are deemed unfavorable. Springsted Incorporated will continue to monitor interest rates between now and the sale date and advise the City in the event that market conditions would iadversely affect the this issue. IPage 4 ICity of Chanhassen, Minnesota September 24, 1991 I $1,405,000 General Obligation Improvement Refunding Bonds, Series 1991 E In July, 1986, the City issued $4,615,000 General Obligation Improvement Bonds of 1986 (the I "1986 Bonds") to finance various City improvements. The net interest rate on the callable 1986 Bonds, those maturing in the years 1997 through 2004, is 7.781%. Based on current market conditions, it is our recommendation that the City proceed with the sale of a crossover I refunding bond issue that would prepay all of the callable maturities of the 1986 Bonds on January 1, 1996, totaling $1,815,000. We estimate the 1986 Bonds can be refunded at a net interest rate of 6.36%. IIn a crossover refunding, the proceeds of the refunding (new issue) bonds are placed in an escrow account with a major bank and invested in special government securities. These securities and their earnings are structured to pay debt service on the new bonds until the call I date of the 1986 Bonds (January 1, 1996) at which time the escrow account will "crossover and pay the remaining principal of the original issue by calling in all those remaining bonds. The City will continue to pay the debt service on the original issue until the call date (through U the 1994 levy). Beginning with the 1995 levy, the City will "crossover" and levy for the new issue, taking advantage of the lower interest rates, and begin making debt service payments on the new issue. 1 Appendix VIII-1 shows the total net savings due to this refunding at approximately $319,040. Appendix VIII-2 shows the existing debt service on the 1986 Bonds, with Appendix VIII-3 illustrating the principal to be refunded on the January 1, 1996 call date. Appendix VIII-4 is our I recommended maturity schedule for the Series 1991E Bonds. The bonds will be dated November 1, 1991 and mature each January 1, 1997 through 2003. Each July 1 interest payment is expected to be made from first-half collections of taxes and special assessments, I as originally pledged to the 1986 Bonds, with subsequent January 1 principal and interest payments to be made from second-half collections of taxes and special assessments, together with surplus first-half collections. This payment cycle will continue for the life of the Series 1991E Bonds. Appendix VIII-5 illustrates the annual savings to the City over the life of Ithe issue. In structuring this issue we have completed an analysis of the outstanding issue's debt service I fund based on estimates of the cash balance and future income provided by City staff. In compliance with federal tax regulations, we have used a portion of the present cash balance, approximately $435,000, to reduce the issue's debt. This issue also contains approximately I $71,000 of "new money" to fund Phase I of Project 85-13 for expenses incurred from 1986 through 1988. This represents an amount over and above the amount bonded for in the 1986 Bonds and is part of the project originally funded by the 1986 Bonds. This is being combined with the Series 1991E Bonds for ease of administration. IAs with the Series 1991 D Bonds, the Series 1991E Bonds includes issuance costs, bond discount and rating fees, with all savings estimates net of these costs. As interest rates I fluctuate up or down, the amount of money needed in the escrow account fluctuates also. Therefore, we have included a provision in the offering to permit the City to increase or decrease the principal in any of the maturities in a total amount not to exceed $25,000 to offset I this fluctuation. We will continue to monitor interest rates and will notify the City in the event that market conditions would adversely affect this issue. IBond Rating A bond rating by Moody's Investors Service will be necessary to maintain marketability of the I new issues. The City is currently rated "Baa". The rating agency will charge a fee for all issues, which will be billed directly to the City. Such cost consideration has been included in costs of IPage 5 City of Chanhassen, Minnesota - September 24, 1991 Iissuance and prorated over these five issues. At this time, there is the possibility that Moody's may travel to Minnesota and tour the City. We would work with the City to prepare presentation materials should this event take place. Federal Arbitrage- Rebate IThese bonds are subject to federal arbitrage regulations; however, the City does not anticipate issuing more than $5 million of tax-exempt bonds during 1991 and, therefore, can qualify as a I small issuer exempt from the reporting and rebate requirements. The Tax Reform Act also restricts the ability of banks to deduct tax-exempt interest as a carrying expense under certain circumstances in calculating their tax liability. We understand the City does not expect to issue more than $10,000,000 of tax-exempt obligations in 1991, so these bonds will be designated as I "qualified obligations" which can be included in a bank's calculation of interest deduction. This qualification typically assists in attracting bidders for the issue and can garner slightly lower interest rates. I Federal Arbitrage - Reimbursement 1 The U.S. Treasury has proposed regulations which will significantly alter the ability of issuers to utilize tax-exempt bonds or certificates to reimburse themselves for expenditures made prior to issuance. The originally proposed effective date of the rules was September 7, 1991. This date I has since been postponed until 30 days after the rules are issued in final form. At this time we do not know when the rules will be published. We do not anticipate significant changes in the rules and feel that a short discussion of the proposed regulations is appropriate, even though I these issues are not currently affected. For illustrative purposes of the following discussion, the originally proposed effective date of September 7, 1 991 is used. There are three major areas of the proposed regulations which set forth the following restrictive I provisions: 1. They prohibit bonds issued after September 7, 1991 from being used to I reimburse expenditures made before September 8, 1989 or to reimburse expenditures paid on projects which have been in service for more than one year upon the date of issuance. 1 2. They restrict the conditions under which bonds issued after September 7, 1991 may be used to reimburse expenditures made after September 8, 1989 and before September 8, 1991. There must be "objective evidence" I that at the time the expenditures were made the issuer intended to reimburse itself from the proceeds of a borrowing and that the expectation was reasonable based on historical finance practices. The I reimbursement must occur within one year of the expenditure or within one year from the time a property or project was placed in service, if later. I3. They prohibit reimbursement from bond proceeds of expenditures made after September 8, 1991 unless: a) the issuer declares in the public record official intent to reimburse expenditures with bond proceeds and I describes the nature of the borrowing, the project for which the expenditures would be made, and identifies the source of debt service funds. b) a reimbursement is made before the later of one year after the I date the expenditure was made or one year after the date on which the project was placed in service. c) the expenditure was incurred with IPage 6 City of Chanhassen, Minnesota September 24, 1991 respect to a property or project which has a reasonably expected economic life of at least one year. The expenditures representing preliminary expenditures for professional fees or studies, at which time the expenditure were made were not expected to exceed 10% of the total project costs are exempt from the 1 time limitations but are not exempt from the declaration of intent. Sure-Bid Option Springsted Incorporated has joined with Capital Guaranty Insurance Company, a municipal bond insurer, to offer a surety bond service to underwriters in lieu of putting up a good faith check in order to bid on the bonds. The program is called "Sure-Bid" and we have allowed for its use in the Official Terms of Offering, attached to these recommendations. We believe that the use of this bidding option will help garner more bids for the bond sale, since it has the potential to make it easier for an underwriter to bid. There is no cost to the City for this service, nor does Springsted have a financial interest in the use of Sure-Bid. For underwriting firms which have been approved and have entered into a reimbursement ' agreement with Capital Guaranty and have elected to use Sure-Bid instead of physically delivering a good faith check with their bid, Capital Guaranty will put up a surety bond, guaranteeing the amount of the good faith check to the City if the purchaser does not deliver ' such check to Springsted by 3:30 P.M. the day after the sale. We believe that we will not have to invoke the surety bond on your behalf and will forward the good faith check from the purchaser as soon as we receive it. This is a new product in the municipal bond industry developed by Springsted and Capital Guaranty. Therefore, for your bond sale, you will most likely receive some bids which are accompanied by a good faith check and some which are covered under Sure-Bid. Springsted ' will be in constant touch with Capital Guaranty to monitor the underwriters which have been admitted to this program and, if Sure-Bid is used, Springsted will follow through after the sale, to make sure you receive your good faith amount from the purchaser. Sale Date and Time ' We recommend these issues be offered for sale on Tuesday, October 15 with bids received in the offices of Springsted incorporated at 12:00 Noon, where the bids will be verified and checked for accuracy. A representative of Springsted will be present at the special meeting of the City Council that evening at 5:30 P.M. to provide recommendations as to the acceptability of the bids received. Respectfully submitted, SPRINGSTED Incorporated sms 1 ' Page 7 • APPENDIX I City of Chanhassen, Minnesota $1,700,000 General Obligation Improvement Bonds, Series 1991A Issue Composition I Minnewashta Parkway Project: Contract Amount $1,625,000 Administration Costs (engineering, legal, administrative) 487,000 Less: MSA (1991-1992 Allotment) (625,000) Subtotal - Minnewashta Project $1,487,000 Chanhassen Lakes 5th Addition: ' Construction Cost 134,496 MN Dept. of Health 150 Printing & Publishing 306 A/E Fees: RCM 29,911 Braun 909 Internal Interest 9,392 Administrative 7,007 Subtotal - Chanhassen Lakes 182,171 Subtotal - Project Costs $1,669,171 Plus: Issuance Costs 19,305 Allowance for Underwriters 25,500 Subtotal $1,713,976 Less: Reinvestment Income (13,976) Net Bond Issue $1,700,000 I I I Page 8 II APPENDIX II II IICity of Chanhassen, Minnesota Prepared September 18, 1991 G.O. Improvement Bonds, Series 1991A By SPRINGSTED Incorporated $1,700,000 Page 1 of 2 liPROJECTED ASSESSMENT INCOME II Minnewashta Chanhassen Lakes-Water Filing Date: 8/26/1991 Chanhassen Lakes-Street Filing Date: 9/ 1/1993 Filing Date: 8/26/1991 Filing Collect Interest Interest Interest IIYear Year Principal @ 6.650% Total Principal @ 8.000% Total Principal @ 8.000% Total II1991 1992 13,879 11,998a 25,877 8,892 7,686b 16,578 1992 1993 13,879 7,772 21,651 8,892 4,979 13,871 1993 1994 50,825 36,077c 86,902 13,879 6,662 20,541 8,892 4,268 13,160 II1994 1995 50,825 23,659 74,484 13,879 5,552 19,431 8,892 3,557 12,449 1995 1996 50,825 20,279 71,104 13,879 4,442 18,321 8,892 2,845 11,737 1996 1997 50,825 16,899 67,724 13,879 3,331 17,210 8,892 2,134 11,026 1997 1998 50,825 13,519 64,344 13,879 2,221 16,100 8,892 1,423 10,315 II1998 1999 50,825 10,140 60,965 13,882 1,111 14,993 8,891 711 9,602 1999 2000 50,825 6,760 57,585 2000 2001 50,825 3,380 54,205 IITOTALS 406,600 130,713 537,313 111,035 43,089 154,124 71,135 27,603 98,738 IIc) Includes interest from filing a) Includes interest from filing b) Includes interest from filing date to 12/31/1994. date to 12/31/1992. date to 12/31/1992. I II II II II II 1 IIPage 9 II I I City of Chanhassen, Minnesota Prepared September 18, 1991 G.O. Improvement Bonds, Series 1991A By SPRINGSTED Incorporated $1,700,000 Page 2 of 2 IPROJECTED ASSESSMENT INCOME IT O T A L- - - - A L I Filing Collect Year Year Principal Interest Total I 1991 1992 22,771 19,684 42,455 1992 1993 22,771 12,751 35,522 1993 1994 73,596 47,007 120,603 I 1994 1995 73,596 32,768 106,364 1995 1996 73,596 27,566 101,162 1996 1997 73,596 22,364 95,960 I 1997 1998 73,596 17,163 90,759 1998 1999 73,598 11,962 85,560 1999 2000 50,825 6,760 57,585 2000 2001 50,825 3,380 54,205 ITOTALS 588,770 201,405 790,175 I I I I I I I I IPage 10 IAPPENDIX III I I City of Chanhassen, Minnesota' Prepared September 18, 1991 General Obligation Improvement Bonds, Series 1991A By SPRINGSTED Incorporated $1,700,000 I Dated: 11- 1-1991 Mature: 2- 1 First Interest: 8- 1-1992 I Total Prin Projected Total Year of Year of Principal 105% Assessment MSA Total Net Levy Mat. Principal Rates Interest & Interest of Total Income Receipts Income Requirement I (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 1991 1993 45,000 5.05% 122,313 167,313 175,679 42,455 0 42,455 133,224 1992 1994 65,000 5.20% 95,577 160,577 168,606 35,522 0 35,522 133,084 I 1993 1995 290,000 5.35% 92,197 382,197 401,307 120,603 150,000 270,603 130,704 1994 1996 295,000 5.55% 76,682 371,682 390,266 106,364 150,000 256,364 133,902 1995 1997 165,000 5.75% 60,309 225,309 236,574 101,162 0 101,162 135,412 I 1996 1998 165,000 5.85% 50,821 215,821 226,612 95,960 0 95,960 130,652 1997 1999 170,000 5.95% 41,168 211,168 221,726 90,759 0 90,759 130,967 1998 2000 175,000 6.05% 31,053 206,053 216,356 85,560 0 85,560 130,796 1999 2001 160,000 6.15% 20,465 180,465 189,488 57,585 0 57,585 131,903 I2000 2002 170,000 6.25% 10,625 180,625 189,656 54,205 0 54,205 135,451 TOTALS: 1,700,000 601,210 2,301,210 2,416,270 790,175 300,000 1,090,175 1,326,095 I I Bond Years: 10,195.00 Annual Interest: 601,210 Avg. Maturity: 6.00 Plus Discount: 25,500 Avg. Annual Rate: 5.897% Net Interest: 626,710 T.I.C. Rate: 6.181% N.I.C. Rate: 6.147% IInterest rates are estimates; changes may cause significant alterations of this schedule. The actual underwriter's discount bid may also vary. I I I II II I IPage 11 IAPPENDIX IV I I City of Chanhassen, Minnesota $1,685,000 Taxable General Obligation Tax Increment Bonds, Series 1991B Issue Composition ILand Acquisition: Grocery Incentive $840,000 I Land Purchase 180,000 Land Writedown 630,000 Chanhassen Lawn & Sports 140,000 Hardware Hank 150,000 Subtotal $1,940,000 City Administration 194,000 I Less: 1989 Taxable TIF Bonds(1989B) Residual Proceeds (500,000) Net Direct Costs $1,634,000 IPlus: Issuance Costs 25,430 Allowance for Underwriters 25,570 INet Bond Issue $1,685,000 I I I I I I I I I IPage 12 APPENDIX V I City of Chanhassen, Minnesota Prepared September 18, 1991 I Taxable G.O. Tax Increment Bonds, Series 19918 By SPRINGSTED Incorporated $1,685,000 I Dated: 11- 1-1991 Mature: 2- 1 First Interest: 8- 1-1992 I Total Year of Year of Principal 105% Levy Mat. Principal Rates Interest & Interest of Total (1) (2) (3) (4) (5) (6) (7) I1991 1993 0 0.00% 174,511 174,511 183,237 1992 1994 160,000 7.70% 139,609 299,609 314,589 1 1993 1995 170,000 7.85% 127,289 297,289 312,153 1994 1996 185,000 8.05% 113,944 298,944 313,891 1995 1997 200,000 8.25% 99,051 299,051 314,004 I 1996 1998 215,000 8.35% 82,551 297,551 312,429 1997 1999 230,000 8.45% 64,598 294,598 309,328 1998 2000 250,000 8.55% 45,163 295,163 309,921 1999 2001 275,000 8.65% 23,788 298,788 313,727 ITOTALS: 1,685,000 870,504 2,555,504 2,683,279 1 Bond Years: 10,366.25 Annual Interest: 870,504 Avg. Maturity: 6.15 Plus Discount: 25,570 I Avg. Annual Rate: 8.397% Net Interest: 896,074 T.I.C. Rate: 8.696% N.I.C. Rate: 8.644% I Interest rates are estimates; changes may cause significant alterations of this schedule. The actual underwriter's discount bid may also vary. I I I II I I Page 13 IAPPENDIX VI I City of Chanhassen, Minnesota' Prepared September 18, 1991 I G.O. Tax Increment Bonds, Series 1991C By SPRINGSTED Incorporated I $575,000 Dated: 11- 1-1991 Mature: 2- 1 First Interest: 8- 1-1992 Total I Year of Year of Principal 105% Levy Mat. Principal Rates Interest & Interest of Total (1) (2) (3) (4) (5) (6) (7) 1 1991 1993 75,000 5.05% 39,468 114,468 120,191 1992 1994 90,000 5.20% 27,786 117,786 123,675 ' 1993 1995 95,000 5.35% 23,106 118,106 124,011 1994 1996 100,000 5.55% 18,023 118,023 123,924 1995 1997 105,000 5.75% 12,473 117,473 123,347 1996 1998 110,000 5.85% 6,435 116,435 122,257 ITOTALS: 575,000 127,291 702,291 737,405 Bond Years: 2,268.75 Annual Interest: 127,291 Avg. Maturity: 3.95 Plus Discount: 7,188 IAvg. Annual Rate: 5.611% Net Interest: 134,479 T.I.C. Rate: 5.959% N.I.C. Rate: 5.927% I Interest rates are estimates; changes may cause significant alterations of this schedule. The actual underwriter's discount bid may also vary. I I I I I I I Page 14 APPENDIX VII-1 ICity of Chanhassen, Minnesota Prepared: 09/14/91 G.O. Mun. Bldg. Ref. Bonds, Series 1991 By SPRINGSTED Incorporated I Current Refunding Summary IPartial Current Refunding of Date of Bonds: 11/01/91 G.O. Municipal Bldg. Bonds of 1980 Delivery Date: 11/13/91 , IEven Annual Savings Structure Refunded Call: 02/01/92 Refunding Bond Rating: Baa 1st Callable: 08/01/92 I I Refunding Delivery Date Sources / Uses _ Refunded Bond Call Date Sources/ Uses' ISources of Funds on: 11/13/91 Sources of Funds on: 02/01/92 Refunding Principal: 1,165,000.00 Invest. Proceeds Mature: 1,134,185.00 1 Accrued Interest: 2,174.75 Inv. Earnings @ 5.00% : 12,287.00 111 Total Sources of Funds: 1,167,174.75 Funds from Issuer: Total Sources of Funds: 1,146,472.00 1 Uses of Funds on: 11/13/91 Uses of Funds on: 02/01/92 Discount @ $11.00 : 12,815.00 IIAcc. Int. & Unused Disc: 2,174.75 Refunded Principal: 1,140,000.00 Refunding Expenses: 18,000.00 Refunded Call Premium: 5,700.00 Investment to Call Date: 1,134,185.00 Excess Proceeds: 772.00 ITotal Uses of Funds: 1,167,174.75 Total Uses of Funds: 1,146,472.00 I Refunded / Refunding Bond Comparison Total Net S vin gs/Pr ese n t Value Savings I As of: Refunded Refunding Future Savings: 62,755.62 11/01/91 Statistics Statistics Less Funds From Issuer: Principal: 1,140,000 1,165,000 Plus Funds to Sinking Fund: 2,946.75 IInterest: 477,440 368,449 Total Net Savings: 65,702.37 i Bond Yrs: 6,300 6,384 Present Value Say @ 5.75%: 51,526.39 Avg. Mat: 5.526 5.480 As a % of Refunded Interest: 11.30%I 1 ,NIC: 7.58% 5.97% As a % of Refunded Debt S.: 3.23% IPage 15 1 APPENDIX VII-2 ity of Chanhassen, Minnesota Prepared: 09/14/91 11.0. Municipal Bldg. Bonds of 1980 By SPRINGSTED Incorporated Existing Debt Service 1 Date Principal Rate Interest Semi-Annual Annual 11 02/01/92 42, 470. 00 42, 470. 00 1108/01/92 70, 000. 00 6.900% 42,470. 00 112,470. 00 154, 940. 00 02/01/93 40, 055. 00 40, 055. 00 08/01/93 85, 000. 00 7. 000% 40, 055. 00 125, 055. 00 165, 110. 00 02/01/94 37,080.00 37, 080.00 1108/01/94 95, 000. 00 7. 100% 37, 080. 00 132, 080. 00 169, 160.00 02/01/95 33 , 707.50 33 ,707 .50 08/01/95 110, 000. 00 7.250% 33, 707. 50 143, 707.50 177, 415.00 1 02/01/96 29, 720. 00 29, 720.00 08/01/96 125, 000. 00 7.400% 29, 720. 00 154 , 720. 00 184,440.00 02/01/97 25, 095. 00 25, 095. 00 1108/01/97 140, 000. 00 7.500% 25, 095. 00 165, 095. 00 190, 190. 00 02/01/98 19,845. 00 19,845. 00 08/01/98 155, 000. 00 7. 600% 19,845. 00 174,845. 00 194, 690.00 02/01/99 13,955. 00 13 , 955. 00 1[08/01/99 170, 000. 00 7.700% 13,955. 00 183 , 955. 00 197, 910. 00 /01/2000 7, 410. 00 7,410. 00 08/01/2000 190, 000. 00 7 .800% 7,410. 00 197, 410. 00 204, 820. 00 I 1 1 . 1 1 I 1 tals 1, 140, 000. 00 498, 675. 00 1, 638, 675. 00 1, 638, 675. 00 nd Years: 6, 300. 00 All lower calculations g. Mat. . : 5. 526 are made from the date :IC 7. 578% of the refunding bonds IPage 16 IIAPPENDIX VII-3 City of Chanhassen, Minnesota Prepared: 09/14/91 G.O. Mun. Bldg. Ref. Bonds, Series 1991 By SPRINGSTED Incorporated Refundifq Debt Perviae I Date Principal Rate Interest Semi-Annual Annual II 08/01/92 60, 000. 00 4 .800% 48, 931.88 108, 931.88 108,931.88 II02/01/93 31, 181.25 31, 181.25 08/01/93 95, 000. 00 5. 000% 31, 181.25 126, 181. 25 157, 362 .50 02/01/94 28, 806.25 28, 806. 25 M08/01/94 105, 000. 00 5.200% 28,806.25 133 ,806. 25 162, 612 .50 02/01/95 26,076.25 26, 076.25 08/01/95 120, 000. 00 5.350% 26, 076.25 146, 076.25 172, 152 .50 I02/01/96 22 ,866.25 22 ,866.25 08/01/96 130, 000. 00 5.500% 22,866.25 152,866.25 175,732 .50 02/01/97 19,291.25 19,291.25 08/01/97 145, 000. 00 5. 650% 19,291.25 164,291.25 183 ,582 .50 I02/01/98 15, 195.00 15, 195. 00 08/01/98 155, 000. 00 5.800% 15, 195. 00 170, 195. 00 185,390. 00 02/01/99 10,700.00 10,700. 00 08/01/99 170, 000.00 5.950% 10,700.00 180,700. 00 191,400.00 002/01/2000 5, 642. 50 5, 642 .50 08/01/2000 185, 000.00 6. 100% 5, 642.50 190,642 . 50 196,285.00 I II I II II I I totals 1, 165, 000. 00 368,449. 38 1,533,449 .38 1,533 , 449. 38 Fond Date. : 11/01/91 Delivery. . : 11/13/91 vg. Nat. . : 5.480 Discount.%: 1. 10000% NIC • 5. 972% Bond Yield: 5.74925% IIPage 17 IAPPENDIX VII-4 City of Chanhassen, Minnesota Prepared: 09/14/91 lo Mun. Bldg. Ref. Bonds, Series 1991 By SPRINGSTED Incorporated Annual Savings Analysis IIRefunding Non-Refunded Total New Existing Savings Date Debt Service Debt Service Debt Service Debt Service or (Loss) II (1) (2) (3) (4) (5) (6) 02/01/92 08/01/92 108, 931. 88 42,470. 00 151, 401.88 154, 940. 00 3 , 538. 12 II02/01/93 08/01/93 157, 362 . 50 157, 362 .50 165, 110. 00 7,747.50 02/01/94 a 08/01/94 162 , 612.50 162, 612 .50 169, 160. 00 6,547.50 il 02/01/95 08/01/95 172, 152 .50 172, 152 .50 177, 415. 00 5, 262.50 o2/01/9b II08/01/96 175, 732 .50 175,732 .50 184,440. 00 8, 707.50 02/01/97 08/01/97 183, 582 .50 183,582.50 190, 190. 00 6, 607 .50 I02/01/98 08/01/98 185, 390. 00 185,390. 00 194, 690. 00 9,300. 00 02/01/99 08/01/99 191, 400. 00 191,400. 00 197, 910.00 6,510. 00 I 02/01/2000 08/01/2000 196, 285.00 196,285.00 204, 820. 00 8,535.00 II II II II 11 II II Totals 1, 533 , 449. 38 42,470. 00 1,575,919.38 1, 638, 675. 00 62 , 755. 62 resent Value Savings: 51,526. 39 Excess Proceeds • 772. 00 s % of Refunded Int. : 11.295% Funds to Sinking Fund: 2 , 174. 75 s % of Refunded D/S. : 3 .228% Total Net Savings • 65, 702.37 IIPage 18 APPENDIX VIII-1 1 City of Chanhassen, Minnesota G.O. Imp. Ref. Bonds, Ser. 1991 I Full Crossover Advance Refunding of G.O. Improvement Bonds of 1986 Even Annual Savings Structure Issuer Funds Required: $435,562.50 Date of Bonds: 11/01/91 Delivery Date: 11/13/91 Refunded Call Date: 01/01/96 1st Callable Date: 01/01/97 1 Comparison: Refunded Refunding Principal: 1,815,000 1,405,000 ' Bond Years: 16,732.50 12,914.17 Avg. Maturity: 9.219 9.192 NIC: 7.782% 6.361% Total Net Savings:. 319;040.99:- :Present Value Savings:. 45,552.90 As% of Refunded Int.: 6.361% 1 Prepared: 09/14/91 By SPRINGSTED Incorporated i Page 19 1 APPENDIX VIII-2 City of Chanhassen, Minnesota Prepared: 09/14/91 113.0. Improvement Bonds of 1986 By SPRINGSTED Incorporates Existing Debt Service II Date Principal Rate Interest Semi-Annual Annual II 01/01/92 175 000. 00 6. 500% 102 092 .50 277 092 . 50 277 092 .50 07/01/92 96, 405. 00 96, 405. 00 1 01/01/93 175, 000. 00 6.700% 96,405.00 271, 405. 00 367, 810. 00 07/01/93 90, 542. 50 90, 542 . 50 01/01/94 175, 000.00 6.900% 90,542.50 265, 542 . 50 356, 085. 00 II07/01/94 84, 505. 00 84,505. 00 01/01/95 200, 000. 00 7. 000% 84,505. 00 284,505. 00 369, 010. 00 07/01/95 77, 505. 00 77 ,505. 00 II01/01/96 200, 000. 00 7.200% 77,505. 00 277, 505. 00 355, 010. 00 07/01/96 70, 305.00 70, 305.00 01/01/97 150, 000. 00 7.400% 70,305. 00 220, 305. 00 290, 610. 00 07/01/97 64,755. 00 64, 755. 00 1 01/01/98 150, 000. 00 7. 500% 64,755. 00 214 ,755. 00 279, 510.00 07/01/98 59, 130. 00 59, 130. 00 01/01/99 150, 000.00 7.600% 59, 130.00 209, 130.00 268,260. 00 II° 07/01/99 53, 430. 00 53 , 430. 00 1/01/2000 175, 000. 00 7.700% 53,430. 00 228, 430. 00 281,860. 00 07/01/2000 46, 692 .50 46, 692 .50 01/01/2001 200, 000. 00 7.800% 46, 692 .50 246, 692 .50 293 , 385. 00 7/01/2001 38,892.50 38,892 . 50 1/01/2002 425, 000. 00 7.800% 38,892 . 50 463 ,892 . 50 502 , 785. 00 07/01/2002 22, 317.50 22 ,317 . 50 W1/01/2003 500, 000. 00 7.900% 22, 317.50 522 , 317. 50 544, 635. 00 1107/01/2003 2,567.50 2 ,567.50 01/01/2004 65, 000. 00 7.900% 2 ,567. 50 67 ,567. 50 70, 135.00 1 1 1 1 1 totals 2 ,740, 000.00 1, 516, 187. 50 4,256, 187 . 50 4,256, 187. 50 and Years: 18, 811. 67 All lower calculations Refunded Bonds Only vg. Mat. . : 6. 866 are made from the date Avg. Mat. . : 9.219 IC 7. 698% of the refunding bonds NIC • 7.782 1 Page 20 APPENDIX VIII-3 City of Chanhassen, Minnesota Prepared: 09/14/91 It.O. Improvement Bonds of 1986 By SPRINGSTED Incorporated efunded Principal and any Call Premium Date Principal Premium Semi-Annual Annual I 11 01/01/96 1,815, 000. 00 1,815, 000. 00 1, 815, 000. 00 1 I 1ot413 1,815, 000. 00 1, 815, 000. 00 1,815, 000.00 Dale • 01/01/96 This portion will be �C p� p paid by the escrow. it ate Called • 01/01/97 The escrow will also pay the interest on all Pri,mium • the refunding bonds thru the call date. Page 21 IAPPENDIX VIII-4 'City of Chanhassen, Minnesota Prepared: 09/14/91 G.O. Imp. Ref. Bonds, Ser. 1991 By SPRINGSTED Incorporated 'Refunding Debt Service IIDate Principal Rate Interest Semi-Annual Annual II07/01/92 57,863 . 33 57, 863 . 33 * 01/01/93 43 , 397. 50 43 , 397 . 50 * 101, 260. 83 III 1 07/01/93 43 , 397 .50 43 , 397 . 50 * 01/01/94 43, 397.50 43 , 397.50 * 86, 795. 00 07/01/94 43 , 397 .50 43 , 397. 50 * I01/01/95 43 , 397.50 43 , 397. 50 * 86, 795. 00 07/01/95 43 , 397.50 43, 397. 50 * 01/01/96 43 , 397.50 43 , 397.50 * 86,795.00 07/01/96 43 , 397 . 50 43 , 397.50 I01/01/97 120, 000.00 5.650% 43 , 397. 50 163 , 397 .50 206,795. 00 07/01/97 40, 007.50 40, 007.50 01/01/98 115, 000. 00 5.800% 40, 007.50 155, 007. 50 195, 015. 00 •1 07/01/98 36, 672 .50 36, 672 . 50 01/01/99 110, 000. 00 5.950% 36, 672 .50 146, 672 . 50 183 , 345.00 07/01/99 33 , 400.00 33 ,400.00 1/01/2000 130, 000. 00 6. 100% 33 , 400. 00 163 , 400. 00 196, 800. 00 7/01/2000 29, 435. 00 29, 435. 00 1/01/2001 145, 000. 00 6.200% 29, 435. 00 174, 435. 00 203 , 870. 00 07/01/2001 24, 940. 00 24,940. 00 I1/01/2002 360, 000. 00 6. 300% 24, 940. 00 384,940. 00 409,880.00 7/01/2002 13, 600. 00 13 , 600. 00 01/01/2003 425, 000. 00 6.400% 13 , 600. 00 438, 600.00 452 ,200. 00 1 I 1 1 1 Totals 1, 405, 000. 00 804, 550. 83 2, 209, 550.83 2, 209, 550.83 pond Years: 12, 914 . 17 * Paid by escrow. Bond Date. : 11/01/91 vg. Mat. . : 9. 192 All other payments Delivery. . : 11/13/91 NIC 6. 361% made by the issuer. Bond Yield: 6.21606% II iPage 22 1 APPENDIX VIII-5 "City of Chanhassen, Minnesota Prepared: 09/14/91 G.O. Imp. Ref. Bonds, Ser. 1991 By SPRINGSTED Incorporated Annual Savings Analysis II 1 Date Non-Refunded Refunding Total New Existing Savings or Debt Service Debt Service Debt Service Debt Service (Loss) II01/01/92 277, 092 . 50 277, 092 . 50 277, 092 . 50 07/01/92 01/01/93 367, 810. 00 367,810. 00 367, 810. 00 07/01/93 1 01/01/94 356, 085. 00 356, 085. 00 356, 085. 00 07/01/94 01/01/95 369 , 010. 00 369,010.00 369,010. 00 II07/01/95 01/01/96 355, 010. 00 355, 010. 00 355, 010. 00 07/01/96 I01/01/97 206, 795. 00 206, 795. 00 290, 610. 00 83 ,815. 00 07/01/97 01/01/98 195, 015. 00 195, 015. 00 279, 510. 00 84,495. 00 07/01/98 I01/01/99 183, 345. 00 183, 345. 00 268,260. 00 84 ,915. 00 07/01/99 01/01/2000 196,800.00 196,800. 00 281,860. 00 85, 060. 00 '07/01/2000 01/01/2001 203 , 870.00 203,870.00 293 , 385.00 89, 515. 00 07/01/2001 01/01/2002 409,880. 00 409, 880. 00 502 , 785. 00 92 , 905. 00 107/01/2002 01/01/2003 452,200. 00 452 ,200. 00 544, 635. 00 92 ,435. 00 07/01/2003 101/01/2004 70, 135. 00 70, 135.00 1 1 1 Totals 1, 725, 007.50 1, 847, 905. 00 3 , 572 , 912 .50 4, 256, 187 . 50 683 , 275.00 resent Value Rate. . . : 6. 21606% Funds from Issuer • (435, 562.50) Present Value Savings: 45, 552 . 90 New Money Proceeds. . . : 71, 328. 49 1s % of Refunded Int. : 6. 36% Total Net Savings. . . . : 319, 040.99 1 iPage 23 I OFFICIAL TERMS OF OFFERING 1 $1,700,000 ICITY OF CHANHASSEN, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1991A 1 Sealed bids for the Bonds will be received by the City Manager or his designee on Tuesday, Y g Y October 15, 1991, until 12:00 Noon, Central Time, at the offices of SPRINGSTED Incorporated, I 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 5:30 P.M., Central Time, of the same day. IDETAILS OF THE BONDS The Bonds will be dated November 1, 1991, as the date of original issue, and will bear interest I payable on February 1 and August 1 of each year, commencing August 1, 1992. Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in the denomination of $5,000 each, I or in integral multiples thereof, as requested by the purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the registrar and interest on each Bond will be payable by check or draft of the registrar mailed to the registered I holder thereof at the holder's address as it appears on the books of the registrar as of the close of business on the 15th day of the immediately preceding month. The Bonds will mature February 1 in the years and amounts as follows: I1993 $ 45,000 1997 $165,000 2000 $175,000 1994 $ 65,000 1998 $165,000 2001 $160,000 1 1995 $290,000 1996 $295,000 1999 $170,000 2002 $170,000 OPTIONAL REDEMPTION IThe City may elect on February 1, 1999, and on any day thereafter, to prepay Bonds due on or after February 1, 2000. Redemption may be in whole or in part and if in part, at the option of I the City and in such manner as the City shall determine and within a maturity by lot as selected by the registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE IThe 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 Ivarious improvement projects within the City. TYPE OF BID IBids shall be for not less than $1,674,500 and accrued interest on the total principal amount of the Bonds. Bids 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$17,000, payable to the I order of the City. If a check is used, it must accompany each bid. tf 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 IIncorporated prior to the opening of the bids. The Financial Surety Bond must identify each Page 24 I bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded I to a bidder 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 Springsted Incorporated not later than 3:30 P.M., Central Time, on the next 1 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 City will deposit the check of the purchaser, the amount of which will be deducted at settlement and no interest I will accrue to the purchaser. In the event the purchaser fails to comply with the accepted bid, said amount will be retained by the City. No bid can be withdrawn after the time set for receiving bids 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 I shall be in integral multiples of 5/100 or 1/8 of 1%. Rates must be in 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 bid will be accepted. IAWARD I The Bonds will be awarded to the bidder offering the lowest interest rate to be determined on a true interest cost (TIC) basis. The City's computation of the interest rate of each bid, in accordance with customary practice, will be controlling. I The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. IBOND INSURANCE AT PURCHASER'S OPTION If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment I therefor at the option of the bidder, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the purchaser of the Bonds. Any increased costs of issuance of the Bonds resulting from such purchase of I 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. IFailure 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. IREGISTRAR I The City will name the registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the registrar. ICUSIP 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 I 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. ISETTLEMENT I Within 40 days following the date of their award, the Bonds will be delivered without cost to the purchaser at a place mutually satisfactory to the City and the purchaser. Delivery will be • Page 25 I - subject to receipt by the purchaser of an approving legal opinion of Holmes & Graven, I Chartered of Minneapolis, Minnesota, which opinion will be printed on the Bonds, 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 I the offices of the City or its designee not later than 12:00 Noon, Central Time. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the purchaser shall be liable to the City for any loss suffered by Ithe City by reason of the purchaser's non-compliance with said terms for payment. OFFICIAL STATEMENT I 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. I For copies of the Official Statement and the Official Bid Form or for any additional information prior to sale, any prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000. IThe 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 I 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. By awarding the Bonds to any underwriter or underwriting syndicate submitting an Official Bid Form therefor, the City agrees I 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 75 copies of the Official Statement and the addendum or addenda described above. The City designates the senior managing underwriter of the syndicate to which the Bonds are awarded I as its agent for purposes of distributing copies of the Final Official Statement to each Participating Underwriter. Any underwriter executing and delivering an Official Bid Form with respect to the Bonds agrees thereby that if its bid is accepted by the City (i) it shall accept such I 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. IDated September 16, 1991 BY ORDER OF THE CITY COUNCIL I /SI Donald W. Ashworth City Manager I I I I I IPage 26 OFFICIAL TERMS OF OFFERING $1,685,000 CITY OF CHANHASSEN, MINNESOTA TAXABLE GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1991B Sealed bids for the Bonds will be received by the City Manager or his designee on Tuesday, �Y 9 9 Y. October 15, 1991, until 12:00 Noon, 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 5:30 P.M., Central Time, of the same day. ' DETAILS OF THE BONDS The Bonds will be dated November 1, 1991, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing August 1, 1992. Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in the denomination of $5,000 each, ' or in integral multiples thereof, as requested by the purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the registrar and interest on each Bond will be payable by check or draft of the registrar mailed to the registered ' holder thereof at the holder's address as it appears on the books of the registrar as of the close of business on the 15th day of the immediately preceding month. ' The Bonds will mature February 1 in the years and amounts as follows: 1994 $160,000 1997 $200,000 2000 $250,000 1995 $170,000 1998 $215,000 2001 $275,000 1996 $185,000 1999 $230,000 OPTIONAL REDEMPTION ' The City may elect on February 1, 1998, and on any day thereafter, to prepay Bonds due on or after February 1, 1999. 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 and within a maturity by lot as selected by the registrar. All prepayments shall be at a price of par and 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 income from the City's Tax Increment District No. 1. The proceeds will be used to ' finance land acquisition costs within the City's Tax Increment District No. 1. TAXABILITY OF INTEREST IThe interest to be paid on the Bonds is includable in gross income of the recipient for United States and State of Minnesota income tax purposes, and is subject to Minnesota Corporate and bank excise taxes measured by net income. ' Page 27 I TYPE OF BID IBids shall be for not less than $1,659,430 and accrued interest on the total principal amount of the Bonds. Bids shall be accompanied by a Good Faith Deposit ("Deposit") in the form of a I certified or cashier's check or a Financial Surety Bond in the amount of$16,850, payable to the order of the City. If a check is used, it must accompany each bid. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of I Minnesota, and preapproved by the City. Such bond must be submitted to Springsted Incorporated prior to the opening of the bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded a bidder using a Financial Surety Bond, then that purchaser is required to submit its Deposit Ito to Springsted Incorporated in the form of a certified or cashier's check or wire transfer as instructed by Springsted 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 I Surety Bond may be drawn by the City to satisfy the Deposit requirement. The City will deposit the check of the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser. In the event the purchaser fails to comply with the accepted bid, I said amount will be retained by the City. No bid can be withdrawn after the time set for receiving bids 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 ascending order. Bonds I of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No conditional bid will be accepted. IAWARD The Bonds will be awarded to the bidder offering the lowest interest rate to be determined on a true interest cost (TIC) basis. The City's computation of the interest rate of each bid, in Iaccordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters I relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. IBOND 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 bidder, the purchase of any such insurance policy or the issuance I 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 I 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. I 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. IREGISTRAR The City will name the registrar which shall be subject to applicable SEC regulations. The City Iwill pay for the services of the registrar. I IPage 28 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. SSETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the purchaser at a place mutually satisfactory to the City and the purchaser. Delivery will be subject to receipt by the purchaser of an approving legal opinion of Holmes & Graven, Chartered of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of I 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. Except as compliance with the terms of payment for the Bonds shall have 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. ' 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. For copies of the Official Statement and the Official Bid Form or for any additional information prior to sale, any prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000. 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. By awarding the Bonds to any underwriter or underwriting syndicate submitting an Official Bid Form 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 75 copies of the Official Statement and the addendum or addenda described above. 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 executing and delivering an Official Bid Form 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. Dated September 16, 1991 BY ORDER OF THE CITY COUNCIL /s/ Donald W. Ashworth City Manager 1 Page 29 I OFFICIAL TERMS OF OFFERING $575,000 CITY OF CHANHASSEN, MINNESOTA GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1991C Sealed bids for the Bonds will be received by the City Manager or his designee on Tuesday, �Y 9 9 Y, October 15, 1991, until 12:00 Noon, Central Time, at the offices of SPRINGSTED Incorporated, 1 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 5:30 P.M., Central Time, of the same day. DETAILS OF THE BONDS The Bonds will be dated November 1, 1991, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing August 1, 1992. Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in the denomination of$5,000 each, or in integral multiples thereof, as requested by the purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the registrar and interest on each Bond will be payable by check or draft of the registrar mailed to the registered holder thereof at the holder's address as it appears on the books of the registrar as of the close of business on the 15th day of the immediately preceding month. The Bonds will mature February 1 in the years and amounts as follows: 1993 $75,000 1995 $ 95,000 1997 $105,000 1994 $90,000 1996 $100,000 1998 $110,000 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. In addition the City will pledge tax increment income from the City's Tax Increment District No. 2-1. The proceeds will be used to finance eligible project costs within the City's Tax Increment District No. 2-1. TYPE OF BID Bids shall be for not less than $567,812 and accrued interest on the total principal amount of the Bonds. Bids 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 $5,750, payable to the ' order of the City. If a check is used, it must accompany each bid. 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 bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. if the Bonds are awarded to a bidder 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 Springsted Incorporated not later than 3:30 P.M., Central Time, on the next Page 30 I 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 City will deposit the check of the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser. In the event the purchaser fails to comply with the accepted bid, said amount will be retained by the City. No bid can be withdrawn after the time set for receiving bids 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. ' Bidders shall specify a single rate of interest. Rates must be in 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 bid will be accepted. AWARD The Bonds will be awarded to the bidder offering the lowest interest rate to be determined on a I true interest cost (TIC) basis. The City's computation of the interest rate of each bid, in accordance with customary practice, will be controlling. ' The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid 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 bidder, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the 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. 1 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. 1 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. 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 at a place mutually satisfactory to the City and the purchaser. Delivery will be subject to receipt by the purchaser of an approving legal opinion of Holmes & Graven, Chartered of Minneapolis, Minnesota, which opinion will be printed on the Bonds, 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 Page 31 I the offices of the City or its designee not later than 12:00 Noon, Central Time. Except as compliance with the terms of payment for the Bonds shall have 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. 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. For copies of the Official Statement and the Official Bid Form or for any additional information prior to sale, any prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000. 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 l to the Bonds, as that term is defined in Rule 15c2-12. By awarding the Bonds to any underwriter or underwriting syndicate submitting an Official Bid Form 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 25 copies of the Official Statement and the addendum or addenda described above. 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 1 Participating Underwriter. Any underwriter executing and delivering an Official Bid Form 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. Dated September 16, 1991 BY ORDER OF THE CITY COUNCIL /s/ Donald W. Ashworth City Manager 1 ' Page 32 r OFFICIAL TERMS OF OFFERING r $1,165,000 CITY OF CHANHASSEN, MINNESOTA* GENERAL OBUGATION MUNICIPAL BUILDING REFUNDING BONDS, SERIES 1991 D r Sealed bids for the Bonds will be received by the City Manager or his designee on Tuesday, October 15, 1991, until 12:00 Noon, 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 5:30 P.M., Central Time, of the same day. rDETAILS OF THE BONDS The Bonds will be dated November 1, 1991, as the date of original issue, and will bear interest payable on February 1 and August 1 of each year, commencing August 1, 1992. Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in the denomination of $5,000 each, or in integral multiples thereof, as requested by the purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the registrar and interest on each Bond will be payable by check or draft of the registrar mailed to the registered ' holder thereof at the holder's address as it appears on the books of the registrar as of the close of business on the 15th day of the immediately preceding month. ' The Bonds will mature August 1 in the years and amounts as follows: 1992 $ 60,000 1995 $120,000 1998 $155,000 1993 $ 95,000 1996 $130,000 1999 $170,000 ' 1994 $105,000 1997 $145,000 2000 $185,000 * The City reserves the right, after bids are opened and prior to award, to increase or reduce the principal amount of the Bonds offered for sale. My such increase or reduction will be in a total r amount not to exceed$10,000 and 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. OPTIONAL REDEMPTION ' The City may elect on August 1, 1998, and on any day thereafter, to prepay Bonds due on or after August 1, 1999. 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 and within a maturity by lot as selected by ' the registrar. All prepayments shall be at a price of par and 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. The proceeds will be used to refund the 1992-2000 maturities of the City's $1,510,000 General Obligation Municipal Building Bonds of 1980, dated June 1, 1980. 1 ' Page 33 TYPE OF BID ' Bids shall be for not less than $1,152,185 and accrued interest on the total principal amount of the Bonds. Bids 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$11,650, payable to the order of the City. If a check is used, it must accompany each bid. 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 bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded to a bidder 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 Springsted 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 City will deposit the check of the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser. In the event the purchaser fails to comply with the accepted bid, said amount will be retained by the City. No bid can be withdrawn after the time set for receiving bids 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 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 bid will be accepted. ' AWARD The Bonds will be awarded to the bidder offering the lowest interest rate to be determined on a true interest cost (TIC) basis. The City's computation of the interest rate of each bid, in ' accordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters ' relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid 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 bidder, the purchase of any such insurance policy or the issuance of any such commitment shall be at the sole option and expense of the 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. 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. I ' Page 34 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 at a place mutually satisfactory to the City and the purchaser. Delivery will be subject to receipt by the purchaser of an approving legal opinion of Holmes & Graven, Chartered of Minneapolis, Minnesota, which opinion will be printed on the Bonds, 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. Except as compliance with the terms of payment for the Bonds shall have 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. ' 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. For copies of the Official Statement and the Official Bid Form or for any additional information ' prior to sale, any prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000. ' 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. By awarding the Bonds to any underwriter or underwriting syndicate submitting an Official Bid Form 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 50 ' copies of the Official Statement and the addendum or addenda described above. 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 executing and delivering an Official Bid Form 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. Dated September 16, 1991 BY ORDER OF THE CITY COUNCIL /s/Donald W. Ashworth ' City Manager ' Page 35 OFFICIAL TERMS OF OFFERING $1,405,000 CITY OF CHANHASSEN, MINNESOTA* GENERAL OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 1991E Sealed bids for the Bonds will be received by the City Manager or his designee on Tuesday, ' October 15, 1991, until 12:00 Noon, 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 5:30 P.M., Central Time, of the same day. DETAILS OF THE BONDS ' The Bonds will be dated November 1, 1991, as the date of original issue, and will bear interest payable on January 1 and July 1 of each year, commencing July 1, 1992. Interest will be computed on the basis of a 360-day year of twelve 30-day months and will be rounded ' pursuant to rules of the MSRB. The Bonds will be issued in the denomination of $5,000 each, or in integral multiples thereof, as requested by the purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the registrar and interest on each Bond will be payable by check or draft of the registrar mailed to the registered ' holder thereof at the holder's address as it appears on the books of the registrar as of the close of business on the 15th day of the immediately preceding month. The Bonds will mature January 1 in the years and amounts as follows: 1997 $120,000 2000 $130,000 2002 $360,000 1998 $115,000 2001 $145,000 2003 $425,000 1999 $110,000 * The City reserves the right, after bids 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 in a total amount not to exceed$25,000 and 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. OPTIONAL REDEMPTION ' The City may elect on January 1, 2001, and on any day thereafter, to prepay Bonds due on or after January 1, 2002. 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 and within a maturity by lot as selected by the registrar. All prepayments shall be at a price of par and 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 special assessments against benefited property. The proceeds will be used to refund in advance of their stated maturities the 1997-2004 maturities of the City's $4,615,000 General Obligation Improvement Bonds of 1986, dated July 1, 1986. Page 36 I TYPE OF BID IBids shall be for not less than $1,388,140 and accrued interest on the total principal amount of the Bonds. Bids shall be accompanied by a Good Faith Deposit ("Deposit") in the form of a I certified or cashier's check or a Financial Surety Bond in the amount of$14,050, payable to the order of the City. If a check is used, it must accompany each bid. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of I Minnesota, and preapproved by the City. Such bond must be submitted to Springsted Incorporated prior to the opening of the bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded to a bidder using a Financial Surety Bond, then that purchaser is required to submit its Deposit I to Springsted Incorporated in the form of a certified or cashier's check or wire transfer as instructed by Springsted 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 I Surety Bond may be drawn by the City to satisfy the Deposit requirement. The City will deposit the check of the purchaser, the amount of which will be deducted at settlement and no interest will accrue to the purchaser. In the event the purchaser fails to comply with the accepted bid, said amount will be retained by the City. No bid can be withdrawn after the time set for I receiving bids 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 ascending order. Bonds I of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No conditional bid will be accepted. IAWARD The Bonds will be awarded to the bidder offering the lowest interest rate to be determined on a true interest cost (TIC) basis. The City's computation of the interest rate of each bid, in Iaccordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters I relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. IBOND 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 bidder, the purchase of any such insurance policy or the issuance I 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 I 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 I purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on the Bonds. IREGISTRAR The City will name the registrar which shall be subject to applicable SEC regulations. The City Iwill pay for the services of the registrar. I IPage 37 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 at a place mutually satisfactory to the City and the purchaser. Delivery will be subject to receipt by the purchaser of an approving legal opinion of Holmes & Graven, Chartered of Minneapolis, Minnesota, which opinion will be printed on the Bonds, 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. Except as compliance with the terms of payment for the Bonds shall have 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. 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. For copies of the Official Statement and the Official Bid Form or for any additional information prior to sale, any prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000. 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. By awarding the Bonds to any underwriter or underwriting syndicate submitting an Official Bid Form 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 60 ' copies of the Official Statement and the addendum or addenda described above. 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 executing and delivering an Official Bid Form 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. Dated September 16, 1991 BY ORDER OF THE CITY COUNCIL /s/ Donald W. Ashworth City Manager I 1 Page 38 1 I I I I DEBT ANALYSIS REPORT CITY OF CHANHASSEN OCTOBER 1991 I I I I I I I I I I I ITABLE OF CONTENTS ISECTION 1 EXHIBIT SUMMARY REPORT I Beginning Balance (all debt funds) 1.1 Graph: Existing Debt 1.2 Tax Levies (all funds) 1.3 ISECTION 2 SPECIAL ASSESSMENTS I Bonds of 1972/1973 2.1 Refunding Bonds of 1978 2.2 Bonds of 1983 2.3 I Refunding Bonds of 1983 2.4 Bonds of 1984 2.5 Bonds of 1986 2.6 Improvement Bonds of 1987 2.7 I Improvement Bonds of 1988 2.8 Improvement Bonds of 1989 2.9 Improvement Bonds of 1990 2.10 I Improvement Bonds of 1991 2.11 Debt Revolving Fund 2.12 SECTION 3 IGENERAL OBLIGATION DEBT Municipal Building Bonds (1979) 3.1 ' 1988 Fire/Equipment Bonds 3.2 1989 Park Bonds (Property) 3.3 Equipment Revolving Fund 3.4 ISECTION 4 TAX INCREMENT DISTRICT NO. 1 I Master Control Fund 4.1 Revenues 4.2 Administrative Expenses 4.3 I Tax Increment District #1 Debt Summary 4.4 Refunding Bonds of 1983 4.5 Tax Increment Bonds of 1987 4.6 I Tax Increment Bonds of 1988 4.7 Tax Increment Taxable Bonds of 1988 4.8 Tax Increment Taxable Bonds of 1989 4.9 Development Contract Payments 4.10 Tax Listing (all TID #1 Parcels) 4.11 SECTION 5 ITAX INCREMENT DISTRICT NO. 3 Master Control Fund 5.1 I Revenue/Expense 5.2 Tax Increment Bonds of 1988, Series III 5.3 Tax Increment Bonds of 1991 (no schedule) I 1 1 1 MI 1 1 1 1 1 1 1 1 1 1 1 1 NO11 1 1 Exhibit 1.1 DEBT ANALSIS - SUMMARY REPORT Last Update: 01-Oct-91 ALL DEBT FUNDS - BE6. CASH BALANCES 11:25 PM 1986 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 BEGINING BALANCES 1$1111111111111111111111 SPECIAL ASSESSMENT FUNDS Bonds of 1972/1973 346,927 242,487 Ref. Bonds of 1978 1,709,866 Bonds of 1983 370,128 601,082 640,704 525,086 0 Ref. Bonds of 1983 727,829 1,002,689 903,147 815,190 728,517 643,307 554,900 434,329 Bonds of 1984 249,243 Bonds of 1986 777,315 326,245 275,414 254,872 216,076 184,059 211,022 239,425 286,826 329,282 372,889 217,643 426,071 592,276 I.proe. Bonds of 1987 1,252,032 1,191,666 1,067,061 938,785 805,278 640,828 478,263 456,600 419,717 380,000 339,936 296,272 83,671 (130,8921 Iaprov. Bonds of 1988 247,308 149,811 111,400 100,860 89,628 78,399 66,359 53,468 42,282 41,757 41,188 40,570 40,788 I.prov. Bonds of 1989 234,339 504,305 513,497 523,952 534,073 940,050 986,834 1,062,505 1,167,172 1,249,955 1,335,254 1,140,986 446,603 *roe. Bonds of 1990 115,912 59,486 230,532 222,564 244,108 265,157 290,952 311,218 330,949 355,383 325,384 *roe. Bonds of 1991 72,067 201,206 365,702 253,182 146,967 172,775 202,321 230,431 258,853 309,888 193,532 Debt Revolving Fund 342,641 414,441 986,301 997,165 1,006,879 1,009,385 1,443,714 1,443,714 1,443,714 1,443,714 1,443,714 1,44X,714 1,443,714 SUB-TOTAL 3,403,993 4,545,231 4,319,209 4,318,332 4,009,032 3,676,603 3,843,846 3,679,465 3,791,362 3,949,514 4,110,780 4,051,897 3,139,185 2,440,848 1,905,099 GENERAL OBLIGATION DEBT Munc. Bldg Bonds (791 93,639 169,702 185,021 211,869 238,724 266,092 294,208 321,958 361,827 400,750 439,353 1988 Fire/Equip Bonds 37,541 67,701 77,117 44,054 116,951 121,115 132,955 153,086 155,850 168,111 164,320 171,508 166,801 1989 Park Bonds (Prop) 60,007 93,750 104,095 112,422 118,977 129,216 138,217 146,216 158,718 170,901 183,109 195,762 209,306 224,211 Sub-Total 6.0. 93,639 267,250 346,472 393,680 445,201 502,021 544,539 599,130 661,129 715,319 778,365 347,428 367,270 376,107 EQUIPMENT REVOLVIN6 FUND Schedule of Short Ten Debt 361,224 624,910 678,528 736,765 799,446 866,880 939,401 1,017,364 • 1,101,152 1,191,171 1,287,857 1,391,679 1,503,133 1,622,756 TAX INCREMENT BONDS TID 1 1 314,192 1,323,874 1,138,826 1,134,694 926,018 1,128,909 1,429,591 2,759,703 4,204,410 5,763,039 7,679,280 10,074,888 11,706,079 15,139,486 TID 1 2 781,118 T1D 1 3 242,893 599,925 867,110 878,779 845,965 769,879 703,283 621,850 459,161 TOTAL 8E6 BALANCES 4,592,942 6,740,473 7,029,342 7,392,345 6,995,795 6,952,944 7,454,734 8,681,061 10,302,116 11,988,185 13,759,603 15,762,071 16,604,213 19,459,574 3,752,066 IMO MN r rr MI MN — it MI — r 11.1 rr. �r rr r� am rr MN Exhibit 1.2 CITY OF CHANHASSEN Debt Service Schedule (Principal and Interest) 7.0% S zu,no..S 7.'43.15!..03,818.058„5.818:648. 6.0% 5,531,596 ^14:40.(;' 5.112,286 a rf if§ w o''',.' : < : i '3M1$t,; 501 890 5.096 4 x ' : • P. >„„ .. t ■ < 3,267,666 3,2420360 3.0% .. ,6os• 2.0% .1,6azeeo 1.0% 0% 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 G.O. Bonds Special Tax Increment Assessment Bonds Bonds MN NM NM NM INNI MIN MIN 1.0 MN NM I NM 10.1 11.1 MN MN NM Exhibit 1.3 DEBT ANALSIS - SUMMARY REPORT Last Update: 01-Oct-91 CURRENT AND PROJECTED PROPERTY TAX LEVIES 11:25 PM Date Appr'd: ACTUAL < °< < ( < - < < < < t l > > > ) > ) > PROJECTED 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 SPECIAL ASSESSMENT FUNDS Bonds of 1972/1973 150,000 150,000 150,000 150,000 Revised 72/73 175,000) 175,000) (150,0001 Ref. Bonds of 1978 Bonds of 1983 Ref. Bonds of 1983 60,000 $80,000 80,000 80,000 80,000 85,000 85,000 85,000 90,000 85,000 Revised 83 ($80,0001 (80,000) (80,0001 (80,000) (85,0001 (85,000) (85,000) (90,0001 (85,0001 Bonds of 1984 $35,000 Bonds of 1986 Total Levy 148,000 148,000 148,000 140,000 148,000 165,000 170,000 170,000 175,000 245,000 265,000 280,000 295,000 310,000 525,000 570,000 55,000 SAC Collections (33,000) (33,000) 135,0001 135,000) (35,000) (35,0001 135,000) (35,0001 (35,000) (35,0001 (35,0001 135,000) 135,000) (35,000) 1235,000) 1260,000) (35,000) i.pr. Bonds of 1987 lapr. Bonds of 1988 I.pr. Bonds of 1989 I.pr. Bonds of 1990 32,722 42,679 42,801 42,756 47,793 47,074 46,184 50,368 1.pr. Bonds of 1991 133,084 130,704 133,902 135,412 130,652 130,967 130,796 131,903 135,451 SUB-TOTAL 210,000 190,000 225,000 113,000 113,000 113,000 162,722 310,763 308,505 316,658 393,205 407,726 422,151 441,164 406,903 425,451 310,000 20,000 GENERAL OBLIGATION DEBT Munc. Bldg Bonds (79) 146,100 148,900 151,300 153,400 155,100 156,500 162,700 173,400 177,600 186,300 193,700 199,700 204,400 207,800 215,000 1988 fire/Equip Bonds 130,000 125,000 130,000 132,500 135,000 137,250 140,000 142,500 145,000 147,500 150,000 152,500 155,000 160,000 162,500 1989 Park Bonds (Prop) 90,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 Sub-Total Gen. Oblig 157,400 160,200 162,600 283,400 370,100 386,500 395,200 408,400 414,850 426,300 436,200 444,700 451,900 457,800 467,500 255,000 EQUIPMENT CERTIFICATES 86,500 136,630 176,500 223,500 262,000 280,000 278,200 310,300 321,000 331,700 342,400 353,100 363,800 374,500 385,200 395,900 406,600 417,300 TOTAL TAX LEVIES 453,900 487,830 552,800 619,900 745,100 779,500 836,122 1,029,463 1,044,355 1,074,658 1,171,805 1,205,526 1,237,851 1,273,464 1,259,603 1,076,351 976,600 699,800 REQUIRED DEBT LEVY 8.17 7.83 8.09 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 OPERATIONAL LEVY 20.20 18.53 18.58 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 19.00 TOTAL PROJECTED LEVY 28.37 26.36 26.67 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 ASSESS'D VALUATION 55.557 62.321 69.192 80.261 93.103 104.275 113.660 135.255 139.313 143.492 147.797 152.231 156.797 161.501 166.346 171.337 176.477 181.771 (Millions) DEBT CAPACITY 453,901 487,973 564,617 642,086 744,820 834,199 909,277 1,082,039 1,114,500 1,147,935 1,182,373 1,211,845 1,254,380 1,292,011 1,330,772 1,370,695 1,411,816 1,454,170 RIFF (CAPACITY 1 143 11,817 22,186 (280) 54,699 73,155 52,576 70,145 73,277 10,568 12,319 16,529 18,547 71,169 294,344 035,216 754,370 -PROPOSED) NM EN - r - - - I MO MI NM - I MI I SPECIAL ASSESSMENT BONDS N MN MN 1M 11.1 MIN MIN NM MN • Exhibit 2.1 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND i 506 BONDS OF 1972/1973 07:2! PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ t ASSD PRINCIPAL PRIN i INT BALANCE YEAR INTEREST PROJECT 506 1 2453 1991 3789 4,833.46 12,330.97 1996 7.00Z 71-79 NORTH SERVICE AREA • • • TOTALS FOR: 506 4,833.46 $12,331 • NOTE: When more tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct I M N? M N P pn in cp. O ■O 1.• eO_ N • ■ I le r. 1 0Os a y W £0•r q' V0 . s— w WI- IC moo _•rS > 8 Y i Y 8g • 2 • I s y S. ` In 2 : 2 A r I I > Y N > O O 0 •• I W e∎ i ep ' N O I S I _ g OM N 6 O W CI a bli it I Ni lb a P W~ H I _ .m .O M P p. .01 —O Pi ..r.0O P N N N N I P VW— h— M m -M N N N N W. .0 O_ f I ton P *MV N N N M cm, a N + ar.— PO N I. 2.00 P f m M 0 I 6 N h § N M POI O 8w — � em 5 5e- Y Y h ■f W A O Pi Pi Pi 10 N N N III I •-•11 I r J O O M M O O Mm CO 41. 0 O H I 6 O 0 11 02 VC CD M y 1 Vf N N m P O N co P /1 y O O N N M 0 N O O NO • • O O it P N N 11 1 tl N, N N O O d •• 11 L. CL N O u n 11 ii u ,H 11 n N II N I 11 9 O. II m A 11 U. 11 m= a eg e • m. It p�1 'a M n s I - - SIa u I• V y� N I I V N M ! II 1y1 I M 11 N N n N 1 1 11 to I lo II 11 11 11 li n 1 1/ II X 1.3 it 1 II W 0 11 _J YO! 11 Q 11 11 O 1 W 11 4. O.W CC CC 11 W M 11 11 01 11 fl • ...pppO O i d N..■0.• C Ij? 1 1 4. II 11 .. M O p .O 1/2! 1/7 N N Le N W = 111 1 '�1! 11 1.17 2 It 4 m � w K m 0 11 N ! 11 h N.0 m oe N N V 41. 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N MN N NM MO • all MN I = • MN MN NM • M NM M NM • r Exhibit 2.2 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND 1 508 REFUNDING BONDS OF 1978 07:21 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ 1 ASSD PRINCIPAL PRIN & INT BALANCE YEAR INTEREST PROJECT • 508 1 2243 1992 3,814 1992 7.501 75-2 CARVER BEACH SEW & WATER 508 1 2243 1991 27544 29,892.74 1991 7.501 75-2 CARVER BEACH SEW & WATER 508 I 2253 1991 9072 9,751.92 1991 7.501 75-3 GRNWOOD SHORES SEW Ik WTR 508 I 2303 1992 38482 44,634.50 49,412.28 1992 7.001 75-10 E. LOTUS LAKE SEW & WTR 508 1 2341 1991 5554 6,119.90 11,107.26 1993 7.001 77-2 RILEY LAKE SEWER TOTALS FOR: 508 90,999.06 164,334 • NOTE: When sore tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct 1 f @ @ - -CM § & #§ 4 - - - - mm mm CM Im. CI NI V1 . Z . • mm§ƒ ' 1 il;' .§ I g a.\ _ B ' ' § • � I f� IFS . 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CC .O .O .0 ..0 .0 ..0 •s + .e r 0 i N N N N N N 0. 1 MI MS 1 MI 111111 MI 1111111 NM 1 MO MN 1 1 MI 1 1 NM • ANT OF ISSUE: 1,330,000 7 REVENUES,EXPENDITURES,$ REQUIRED TAX LEVIES Approved: 01-Oct-88 NET INT RATE: 7.351 Int Rate: 7.001 BONDS OF 1983 - FUND 513 Corr Year: 1991 Updated: 01-Oct-91 STARTING YEAR: 1983 Delinq X : 5.001 Amt Cert : 1,251 ENDING YEAR: 1996 Defer Bal: 21,485 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 TOTAL BEG. FUND BAL 539,539 657,131 601,082 640,704 525,086 0 0 0 0 1 Balance Pledged to PROPERTY TAXES Debt Revolving Fund SPECIAL ASSESSMENTS Corr - Prin(grp II 5,371 5,371 5,371 5,371 5,371 Corr - Int (grp 11 5,311 5,371 5,371 5,371 5,311 Curr -Prin(grp 21 1,880 1,504 1,128 752 376 Corr - Int (grp 2) Sub-Total 78,656 72,073 12,622 12,246 11,870 11,494 11,118 Allow. Delinq 5,371 5,371 5,371 5,371 5,371 TOTAL SPEC ASSNTS 78,656 72,073 1,880 1,504 1,128 752 376 TRANSFERS (1) 190,000 180,000 590,000 (555,326) (752) 1376) OTHER (21 INTEREST EARNINGS 37,715 48,135 35,768 22,591 TOTAL ASSETS 845,910 777,339 818,730 1,254,799 0 0 0 0 0 EXPENDITURES Debt Pyets 1st - PRIN 2 10,064 - INT 41,278 37,763 33,913 29,513 2nd -PRIN 8 95,000 100,000 110,000 700,000 l - INT 41,278 37,763 33,913 Agent Fee $359 $733 $200 $200 TOT. EXP'S 188,779 176,257 178,026 729,713 ENDING BALANCE 657,131 601,082 640,704 525,086 0 0 0 0 0 11. Approved (scheduled) transfers from T1D 1 I (see TID 11 1 Cash Flow Analysis Report. 2). A transfer for 1990 was mistakenly deleted. Transfers for 92- 96 have been accelerated in 1992 to allow this issue to be defeased. The initial schedule of transfers was developed by the city's bond consultant (Nericor) and our independent auditor (Voto,Tauges,etal) to represent the HRA's cost of non-assessable public improvements , i.e. well house, signals, trunk sewers, etc. These costs do not change thru time. By contrast, the assessable portion of this issue has experienced better than predicted returns, i.e. less than antic. del's ,higher interest earnings, the 51 overage requirement per year, etc. have accounted for better than anticaped balances in this fund. A deduction for early payment by the HRA, i.e. 590,000 (921 vs 180 (921,160 (931,140 (94), 90 (951, and 20 (961 was not made recognizing the 180,000 transfer mistakenly missed in 1990. M IIIIII I IIIIIII MI MI NM MI IIIIIIII NM NM NS IIIIIII MS IIIIII MN MI NM NM Exhibit. 2.4 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND I 514 REFUNDING BONDS OF 1983 07:29 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ # ASSD PRINCIPAL PRIN & INT BALANCE YEAR INTEREST PROJECT 514 1 2365 1991 7086 12,613.73 35,431.76 1996 13.001 74-2 & 77-6 MSAS #101 - STR 514 1 2376 1991 248 282.32 282.32 1992 7.001 78-1 LOTUS LAKE STORM SEWER 514 l 2413 1991 125577 199,024.15 439,409.19 1995 13.001 78-3 CHAN LAKES BUS PARK 514 l 2413 1991 77473 127,830.13 309,891.27 1995 13.001 78-3 CHAN LAKES BUS PARK • TOTALS FOR: 514 339,750.93 $785,015 NOTE: When more tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct I #'''r'i 24 § 86 § w§r �E ■ ' 22A . 2 ■ _— §§el §3 6. X27 1 • CD • § .. .1 NO § . . • 1X : 1 i22 '�� e •x.4 ! \ � ' . I §_ b § X00 11 g. . II: } i k • A I ■ l 2. 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N T 11 M if N O N M w N Y7 11'l a 11 Q 11 ! a O 117 N O M O N9 w .O ? r4 m O W N ee S pp pp UM III W „ a P ? N N 54 N N7 h N y w N ■ y If! OP u u _ m p PM pppp ( p!. S pp pp O M M .' M 0 0 ! ! e N {I'9 N M 4,eO ■ p O m 10+O H BO M NN N m m ? IA PP-M pr O WV M{f7 N 4 PO yr PM ■ M w N .. N O N if 88 88 yp7 I y 11 O O O !A .=� 2 i O O m.O in o o■I = u N m m m w M IH f N M FPf P M y N lV M w N Yf 11 ■ P.It 11 ■ p ■ QQp mm pppp 8 It S ? N ■ O O P M N P y N O N7 O N .O w O w ■m■ I N. 11 a O 5!!m m P ? a S h 1 ' 2: C: 1:1: ! y - A s ∎ O O 1� 1+ ■SP ^ e!v d pO o O ea. ph ^ ■ �. C 04 0 II�Y S S S N M N 0 P m py N N! N` y M y ! P ! ! Y X ■ O N N p. ■ liS pp m ! Q� N 1P! N mP P w II N O O 117 m ppNO a N IH? .O in O 42 III N O P. m 40 CD m■ a N CO m N S S N 117 11 ■ P OP n N In 8 8 pppQ Spp pppp QD p 11 N O O Y Y7 N O S V O O A N ? M■ N m m ' ' w N .. 40 ■ P w N N UM CO 40 42 N a O 117 11'f II It m M ppa. ` PP O m _ P 11 = N m 11 Au u. O N > N IV N y N 7n .1 W y M a s M a ~ ! 11 IJ i 1.4106. 4. P6.� ON 1� �/ Q» JJ _ O Y W 6 11 6 y y CppNC ¢0. 0 » » » »C {qW i i i O•ta¢ Y 11 O a mJ 6- N y Eta C C O Vi y ly Q {L W y i O i mP u Q P 1-� b ► V li S W N 6 J 1 N Q V L V V a .. H C ` m 11 w N WW • Y O r . J' a 9 p a ¢i 12 W o .Ni N Y O W w .,�,1 4 F.��y 6 0 N �t• w 0000 i .-y W w Gi ia w N a W ► « O S W U7 W 11 W S m i G 4 H O air O= W a W m d. a 1. an 11.1 MO NM MO Mil 11. NM NM NM NM NM OM MN NM SPECIAL ASSESSMENT INFORMATION Exhibit 2.5 01-Oct-91 FUND I 515 BONDS OF 1984 07:34 PM YEAR To He CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ t ASSO PRINCIPAL PRIN i INT BALANCE YEAR INTEREST PROJECT 515 1 2563 1991 6373 9,591.94 25,493.66 1995 10.10X 84-1 PLEASANT HILL / NALDRIP • • • • • • • TOTALS FOR: 515 9,591.94 $25,494 NOTE: When more tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct IN • MN I M r MI H - - M - - - - - - r - rr6'K 1101L 199'1 Sor'8 866'8 16516 101 1£6'9 119 IBZ'1 If6'I Sl5'Z 611'f INI 166'SZ £Lf'1 fl£'! £lf'! f1f4 fl£'9 NINd ►861 JO SINN o Nei ST4101 • 181 INI NINd 101 INI NINd 101 INI MINd • 101 INI NINd 101 INI NINd 6 1D1 INI MUNd 1 101 INI NINd 101 INI NINd 101 INI NINd K6'If 110'1 199'l SOf'B 866'0 101'6 101 I f9SZ lf6'9 on LBZ'I If6'$ Mg/ 61Z'f IN1 1 f9SZ 166'SZ flf'9 flf'9 flf'9 flf'9 flf'9 N18d I £9SZ 5111101 0101 600/ 8002 1001 9001 SOO/ 6001 f001 ZOO/ 1001 000/ 6661 0661 1661 9661 5661 1661 f661 /661 1661 3dA1 I 1 anon rood • •yms A11iaA %ANA. •a•t 'OWN a6vPJ ayl asey NV3A Al 1531131N1 INN 1Vd13NINd JO NOIIfIINISI8 ootlel}I4a3 Nd 6f=l0 moms 6861 10 vollewl 10auo)syl 'p6vey3 11 •sJeaA 10 1 I anon sus 1 11101 I16aue3 16-130-10 salmi pompon Ave Aeldslp Aipauoe llty eopo11J011 t310N SISAIVNV 331AN3S 1131 11111111111111111111111111 - M - 11111111111111111111111111111 i - - r M - - - ANT OF ISSUE: 590,000 REVENUES,EIPENDITURES,6 REQUIRED TAX LEVIES Apprd: 01-Oct-88 NET INT RATE: 8.01 Int Rate: 1.001 Curr Year: 1991 Update 01-Oct-91 STARTING YEAR: 1984 Delinq 1 : 5.001 BONDS OF 1904 -FUND 515 Ant Cert : 9,592 ENOIN6 YEAR: 1993 Defer Dal: 25,494 1989 1990 1991 1992 1993 1994 1995 1996 1991 TOTAL z ::::s zax:s:::zssxz::saasaaaaasaxxzzaaxzssxas x xz zix:zzsxzasz:az:xza:s:aa:saxisi z: : : ss BEG. FUND BAL REVENUE/TRANS. [NOTE: THIS FUND WAS DEFEASED IN IN 1988. CURRENT AND FUTURE BONDS SOLD BALANCES ARE PLEDGED TO THE PROPERTY TAXES DEBT REVOLVING FUND) Curr/Prop Levy Delinq Coll TOTAL PROP TAXES SPECIAL ASSESSMENTS Curr -Prinlgrp 11 6,313 6,313 6,373 6,313 6,313 Curr - Int (grp 11 3,219 2,515 1,931 1,287 644 Curr -Prinlgrp 21 Curr - Int Corp 21 Sub-Total 19,592 $8,948 $0,305 $7,661 $7,011 $41,523 Allow. Delinq 114801 ($4411 ($4151 1$3831 1$351) ($2,016) TOTAL SPEC ASSIITS $9,112 $8,501 $7,009 $1,278 $6,666 $39,441 TRANSFERS$ 119,1121 118,5011 1$7,8891 117,2181 116,6661 1139,4411 OTHER INTEREST EARNINGS TOTAL ASSETS EXPENDITURES Debt Pynts 1st -PRIN 6 - INT 2nd -PAIN 12 - INT Agent Fee TOT. EIP'S • ENDING BALANCE BAL. CONSISTS OF: Prin 6 Int Next Allow Delinq TOTAL MIN all r I NM N NM MI M N NM M I N .NM r — M INE Exhibit 2.6 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND 1 516 BONDS OF 1986 07:37 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF • FUND GROUP PROJ 1 ASSD PRINCIPAL PRIN & INT BALANCE YEAR INTEREST PROJECT 516 1 2565 1991 2320 2,529.28 1991 9.001 85-10 CREEKWOOD DRIVE - STREET 516 1 2575 1991 23975 34,764.42 95,901.82 , 1995 9.00X 85-13 BUS PK 5 (N OF PUB WKS) 516 1 2575 1991 15172 21,998.92 60,686.62 1995 9.001 85-13 BUS PK 5 (N OF PUB WKS1 516 1 2582 1991 7081 10,267.06 28,323.10 1995 9.001 86-3 TRUNK WATER AND TOWER 516 1 2582 1991 5571 7,844.56 19,685.74 1995 9.001 86-3 TRUNK WATER AND TOWER 516 1 2583 1991 22278 32,303.79 89,112.79 1995 9.00X 85-15 PARK ONE (N&E OF PRESS) 516 1 2585 1991 10498 15,221.75 41,991.01 1995 9.001 85-8 LAKE DRIVE E. (PHASE 31 516 1 2593 1991 5241 8,070.54 26,202.89 1996 9.00% 85-17 S. LOTUS LAKE ST/SWR/WTR 516 1 2595 1991 10193 15,697.44 50,965.51 1996 9.001 85-19 LAKE LUCY ROAD STR 516 1 2602 1991 3149 4,566.30 12,596.70 1995 9.001 88-25 LAKE LUCY NATERMAIN TOTALS FOR: 516 153,264.06 $425,466 NOTE: When more tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct • I s f N•S ^ :2 N A r q h _•• M P! p p pp_ _ r• I IF.. ' r W w y • 1 • t r III !• Y i 3 C2 NO . • .. I i M 1 • N I I. OM �Ny I M s I . Ili 6 . I • A • N as i 1 t =A N M..=en lip 0. sS M v • _ i ..M» ay ag MM .6 -M Ms _ .,,,, E gg ..' It 12 A ► ~a s S NIA S2lb P2► • Al N iggg h S ~ .1; — N h N .. .. 1y N == I MP MP r ti r4 w"9 ."P2 gi i s 49 11 II le a 2 S 0 r Ig 22 22 get 0.7• or IN M M r N ^^ ' A. _ M N• ► M N i 1 i A pm M M ^N► ►—• h M ��_H I r `•�12 21. a S P2 pw g IA 2 Al gg UM CP.c cm c glen 04E EEO OZ ' � ssi 1 amO O I; O• 11 .0 c s • r N m a _m m - p 7 N_ _A �� m N N N N m H N 11 • P `H r _ r N f P A m 1_O O 11 N N ■ 11 r • N ■ 1 11 11 Y -iV in 11 11 G y7 11 • 6 S 11 O.= 11 Q 11 11 S11 1 N 11 11 U 11 1 O 11 A a N it N N 11 N N H 04 1 N H 8 pp S .p pp .p■ N S 11 O O O O ■ f 3 a a - N N 11 8 a N N N LV p N I •• M 11 • N FI N .O O A _ p n en a •O SppS 8 � O V O N n a ppO O yO1/��_ .O O N •O y1O1�7 •O N O - a 0. L _ V 11 CM M H ? S r ti .M.•N∎ h N N N■ N N N .r • m ■ ■ we P. SU m P 8 8 QQ h N r S S r m m 11 m 1L/Om� O "' pO. N P 000 P m .p LON S N 1i M CM .M.. C. M N N CV •00 N O CM a m ee 11 eQ 8 pQ a M f N f f II I N '1• H V O C Q CM y0 ...lee p O O N S f I\ f O 1 O▪ a OD a 02 H N O• N4 e . ■ ■ 11 M N m M N N N= N N P• ^9 • f 11 P li a Q p p p .0 O O O O O N N 1 CO 11 m S S gp S N CO 02 f0 00 C- Om CO m ■ O■ U 42 O. 11• CO r 0 M N N M M r M CO Wc m N■• N N 11 CO 11 N OO 1! a ^ Ni O N f i 11 t O O O f N. O A • N e ^ N W 11 r a 0 a M CO m CO b 11 P O N ^ Q .p �..L 11 N N ■ ■ h •� = y=y y 0 y N N w. P.N Qg Qg s Qg ■ 14 O. i o 6a § 3 ∎ S 8 o▪ i .f•1 .▪ Mna W 11▪ N O r r N O! f ∎ • N ? M P. O III ij 0. 0. • ■ VT III P CV 11 h O S O 11'1 a ■ N P a r S 323 ■ y{P1'7f N N a.p 11 N 1/� p O m A N O C mem W 11 11 N N O N r r r = ... N N ■ O)N i II r .. r r M A S A Al W 3 11 N •�_ N N M ■ .+ uu 1 V I 11 42 CD 0. u' Of § § § YO'f 07 M•'f m f A a If7 O Ifl O O O N N u ob . WWW, I • 11 V•'1 r ■ r ■ r r A■y N ■ m a N ■ . J .p 11 N N M M Y m M 11 •_ p J CO N. P n pp O 8 p� ..p0 f M ■ 88 8 e e e ■ 111 011 ,14 .. 11 ■ O O or O 117 O N N M e N Y•9 O ■ .O OD O A A Of `.C.1 11 A M 11"1 O 41. ^ v N N N e ?y? IA Y7 mi INj N a it LV ▪ W ■II .0 It pp 8 8 mp S pp yp7 f ? C St 72: . . ? N• ■ O O O I/7 mmN m .2 .4 O m N S O f .m0 • pp il N M n..0; > P. we mod III v li h ∎ - -∎ h I.Nf N a P P M N 1'•l h 411 O a■ ■ V.•• V.M P 11 O O O O f 1m+ N O N S O S . N m —1� Y y m 0 C 11 M 11'f m C r u w ! M■ ■ 0 • ■ ∎ ∎M 3 O 0. .. Or H H Pa9 r mmN 4 O 42 O A 1+f v m I 11 � II 2 ■ 11 11 O 11 A O O O O A P h ■ m .2 N r ` cer e. u po o a f N M M e 11 m mp S S a Ps .0 =w-tee+ 12. N.A N ∎ • N O ∎ ■ 11 N N - r M CM M vi p�p p Li ME S S .O O • ' • T O O O O S r pmr. r S N L CO P f m m O m .NO .�O .00 A ■- o a N ■ ■ 11 i e M r N U.1 ... 0 a S a O N O N Y 11• • N N M •- f CM M e y y rU • N A pp 4O a M 11 ■ Y m •O A P S 1' = �_ V ft C I.• N N 7 O y .w ar a 11 T J W �=1yy ` 6 Q 0 LNpp li • 11 Y M L �•. Pte• Q Z m • 11 N J CC ppyppy.... N y ti m a ∎ i ∎_ W1 ■ O C N 1.• �. M to O. my .- 40 11 m e C Y G a 0 y d d - O G ..l N > 1� 1 1 6 N 9 r N 1. M woe W lo ca 7 C 1 1 I I ,p tLAA N Y li I.Y. 77 V J Z W m = ■ v. 's .- _ .0 L C Q �• 1 O 6 W N JQ a a+ 7 �+ 5 = 34 ■ O ■ ■ S O tl I.O Z O L!u! a a W V V U V fA C Z y¢j W 6 W m r N p.0 Q . -. O NW 6 = C U. = W.. = 11 m m a N ~p= YO W W _ 1111 111111 s 1 1 M 1 MI MIN 1 • In N MR MI 1 1 M • Exhibit 2.7 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND M 517 IMPR. BONDS OF 1987 09:43 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ 1 ASSO PRINCIPAL PRIN & [NT BALANCE YEAR INTEREST PROJECT 517 l 2571 1991 18254 25,597.95 73,540.46 1995 8.007. 86-7 WEST 65 & CRESTVIEW SEW 517 1 2572 1991 63006 68,676.47 1991 9.001 86-2 CHAN HILLS TRUNK WIR 517 1 2573 1991 1131 1,583.53 4,524.39 1995 8.00X 87-10 N. LOTUS LAKE STR & UTIL 517 1 2591 1991 14947 22,121.02 74,733.20 1996 8.00X 87-1 WEST VILLAGE LAT SWR 517 1 2591 1991 6197 9,172.23 30,987.27 1996 8.001 87-1 WEST VILLAGE LAT SWR 517 1 2592 1991 37275 57,403.50 186,375.00 1996 9.001 86-13 TRUNK SWR TO 78th & 17 517 1 2592 1991 4800 7,104.00 24,000.00 1996 9.001 06-13 TRUNK SWR TO 78th & 17 517 1 2603 1991 41320 77,681.63 413,200.62 2001 8.001 86-11 DOWNTOWN 517 1 2603 1991 126585 237,980.21 1,265,852.96 2001 8.00% 86-11 DOWNTOWN 517 1 2605 1991 13110 21,369.30 78,660.00 1997 9.001 8-=5 BLUFF CREEK DRIVE--STREET TOTALS FOR: 517 528,689.84 $2,151,874 NOTE: When more tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct I 0. 6 4 N 0. 1 H al. m m 0. SO a A !gR 2 02 07 4 Y7 0 0. 42 0. ! 4 H .0 S. 2 N m S .0 f CO H N H N p f ti CO _ h y M ti r P CO a O .O e. CO UT U . N a H 0 N IH m 0. MP Y 17 a N ^ ! M WI Vf m N 0 N a m O I O O ` r 1 N H 1 O 1 1 O N L i PP P 12 P N t + CpO M I Y .rte S •0 4 V N ✓P O h y4' 8 Y i W I. .• a o . • r• g c i u r • S U7 S 8 `2 0 0 Wila N▪ P >, 1. O i f g _OW 2 S I N N N s O tttt H h iii 6 a A ! .u. =f H t N H a r r P- O D WI un 4D f P pppp ym� CO m 1.1 C N a 0. 11'J N m P. N P. ai 01 {y m O p s P N r y 11 an 4 07 N H P N Vf m 0. P N 0. G P 0.! . N ^ V f e; a. ... H e N O MI {my1 P H N mr V!O P A 2 kk C • 1▪ H 42 CD en Mr .h0 A 17 ili 42 O. 1 N l h II m P h m a N N o . n LP CC pp N f 117 CV U7.h.. r r CD a H C P h .O N h a H n U7 O 0 N N O f f a O O h PM H1 N M H A M 0 M t M M.0 P r r r ! .O N .O m an r N ! .0 G. r .0 a PI ri 44. p! n 0 4 te0a.. =.0 m 4 PI-.N I P SAN 4PN ! Ph 40.4 A=(e Sa /QHI4yr aCD! =WI .0 ACPm _P. H ! . N P H H P r N h 3• m m r 0 r r N 4 a !+ 1f a f V 1 .0V.A P 1 M .4 = H Yr N.0 .p 4.A N 4 H • P 1 ►N =CD N P. m P.M h h N CCP 1.!0 O. pp 0. p p �.f O 0 O O .p p. O. H P H H P 117 U7 4 1 .0 N O N CO N O M 0 �' `I�S O a r 1N+ 0) A 4 f CO N N r r H a r h h h f r a r a h a en h CA f == = H= N a m = Hr N N. H P. 4 H R 0l r H h H 0 H N f 8 PS N F w =N It I m V kk CP P r. P H P A P m 0.PP !I. ..v N f .O m 117 H � O h r P C.; A H r. 01 A m _ r r CO y p f r o 0N p h r H PI 0.= = .17 O= N 4 4 f il P m m M IV H / S p p pp V .a V2 N m 40 P N 4 h 4 A h P H O) N r H f P P G. 0 N A O P 1! N r O_ O H m Ik co N '4 a N O7 f N a M a h N = N P. f A N N 1 N .▪2 P.C N g ++▪ P to. v m V) ! P a � A O h Nm Y9 f A = h WI N h h 17 pp f P.N O O O N N O = CD Vf mm P CO P P r{1N M !N0 4 N H N O a a ! WI P r P r N r! CO H H H17 H P .0 O CD a` C. f = J m ti U7 H IC i r . P. N P A h ' 0 A N PM CD N a M N U7 r 4 NN r N on▪ N V I G ; H :I. 4 :H A _ H O = rC O GC 0 CP PC _4 . H r r r r r r 4 r O 4 r r 4 r IIC CD 4 r 31C CD 4 O r MC CD r O r 4C CD OC PC r r r CO r r r r CD 4 4 4 4 r H 17 4 edN N N N N H H H H M H V In V^N N N / N N N N N{n 41,d N en{77 N N N .2 42 N N N N N N N N N N N N N N N I 11 • 4 11 o `� ° it a �onm O. Al pp e CO O Of M S _ 1 , • ? m 10 N 1m/9 H ^ d d 0 CD 0 0 y .O P 0. m YN'f 11 d •P d I 11 11 11 11 ■1 11 11 1/ 11 • 11 O O fl 11 OS 01 1 O 7 11 11 11 G= 11 • Q 1 11 ! 11 H O u P M N 11 ., m 11 y 1 O ! H li .. pp pp Y. m S 44 .h0 •Hp O O S n 0. N= N 11 H N Co m• 1 « .. .. M N M 8 d 40 h NII 4I, NI O. r4 S 8 pp pp P. 9► 91I m N 1 N m ^ O O O If!1/1 .O O M H ` _W W 11 ? U, N O =d 0 M 43 CD 42 CD Is C 11 N _ H N N CO N N 1 8 117N .0 8S8 S 0 WI .0 N II ? ♦ h O N Yd9 A O O O S Y'f h N N gi A= p M9 N 11 H ^ m ^ N S ^ ^ y .0 4n ..P m. 11 pppN SS pe N N St N III O it O N 117 O P N d O m 0 11'! i+e9 ? 11'! Y�'f O O 11 m Co d h M M 0. y O d Al N 11 O C. 0. h O M N d ! `1ff• = 11 H . N r S N m _M ? O ^4V 11 N N H N N a N N P O O S g S a c. ot.N o- O. i1 iNI.11 IS p� ^ ♦ N H d N S M N N m M M r4 47 N N W h P c. 11 P ? d 0 U77 .!p h 8 pp n u, J 11'J 1 •.■ ee 11 ♦ 11'9. N .-N N N H H P in P GC ... 11 N ♦ N N LW Q W P N r4 p. p pp p p O P ^ .1 CO O h h ► .02 .♦O ... O .00 - y9 N .!p! - Y07 ,p I y 0 1 CO 00 N _ N N ^ O ♦ M m Ir9 A M H N N ♦ N N ■ WO d II pQ ppp 8 O Op CV 11 6 C2 r 11 ■ N !_ .d0 O ? A C �O V9 in N CO 42 N W = 1 d • N M .h N m O N 1 417 ! N ^ P P ♦ N cc Q P 11 O! In N H ! 4n m CL = N A 00 H P a y�WI CP C4 y. O IA S m 11"! S dN W 11 {19 y = H d m■ W 0 0 N .. W. CO y y O. N.. U7 YMI ! N MI S 11 . ! V9 .O O N N I ! II ♦ d h =^ WI pp m pp 199 4n WS C.0. in ap 11 m em A W.em h O Y�'9 O 0. e 11'f N N_ .0 C M • 0 02 ' P P h r P N O ♦ N y It P CO 11 N M .� H y S m h m 17 N N a 4. N d cc. P N 41'9 p PS mos 11 = Al H m N P N S P P If'J r A N h p. C 11 O d h N ? 1n h S ! N CO Oi ! Y 0. I 11 . N 1 .. H 11'9 ! P m h M 419 N co Y N M 11 N P Vf N W 23 N 11 N h 4• 0. 11 V h VI 0 A P m 1 0. S M ? Yf m V P. P.7 C. .• 11 d M ^ 1... S O P pyQ .=.pp m m 1p� p 11 .. N d ! a O h N S M III d ♦ O ♦ N ♦ SI N P 11 h N d P M If9 N ♦ pppQ 07 mm ^ .1.pp! ^ ♦ P c. I. Q c. C ^ 11 0 d e d ! N d P O M 11'9 N .0 47 0 N •y _ p e 8 M O ! .. 42 r4 CD 43 CV III c^O 1 .. .1 N 1 7 N St m ^ .0 ^ 00 H .HO r4 1 G O. 0 11 N ! y7 Q h Y7 N d..♦pp p li N em m R H H P. O =IH m O 11 O h h . H S P N N ^ Y VA 11 • d d h N^ .. r H M 42 C Al N d d O I IT ¢ CIO 0 O. it P S m p m gig A P. ^P !.p 11 P p O S m N =Y�9 H 791 y. 11 O! Y h h .O yr 11 O ! Vf .Op y= ' N N!■ •+ li ^ C P_ •0 P O •�Y N! N C N O Co 42• pm. O 11 {A D. ... N CD C d N 11 _ 414 W m 11 1 NI N N ^ N N ` 11 J N V MC Cr! 11 Y .�.1 1.Q. = P.►P. O. O. w 6 N • gl GA y QQ _ _ W C �J W 11 m I.. G N O W i c ► ` ^ Y yVj ¢ ^ N N Con C DI Y N Q > S 11 O CC L 0 Q N O. 4 y 0 0. 40 Q V/ CA W .0 L I y ^ Y • �1 _ C y �>,p II S N r>. .1W ► ► ► ► I 5 6 W N Q d y 49. Q N p O p - i 11 W N W d C ` I. t.... .... O ^ O N S C J Z C N ' = W M.� CO CD C .� •2 O G V 2 y L W cc. it GD i O W V CO C.1 V LA N Q 1. `Z S 4y O p.10. • ► moo 0 6 Z N W 1 m m C y C >A Q i Q Q CL W W m 0 Ns trill iimil r m 1 1 m m I l I 1 1 I 1 m — Exhibit 2.8 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND t 320 IMPR. BONDS OF 1988 09:51 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ if ASSD PRINCIPAL PRIN if INT BALANCE YEAR INTEREST PROJECT 320 1 2601 1991 2507 3,911.36 15,043.68 1997 8.001 87-5 CHURCH ROAD SEWER 320 1 2613 1991 1437 2,342.57 8,622.98 1997 9.001 88-2 MINNEWASHIA MEADOWS 320 1 2615 1991 2623 4,275.51 15,738.01 1997 9.001 87-9 KERBER BLVD., CURB & GUTT 320 1 2615 1991 5336 8,697.35 32,014.92 1997 9.001 87-9 KERBER BLVD., CURB & GUTT • TOTALS FOR: 320 19,226.79 $71,420 NOTE: When more tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct I 01` d !N {� N H ^ U7 P m C. I y/ Co N N W P. M P .p O O O o- �u V9 6 ! y CO N = ! O N N or P M 1 P N H ! r rO 0 ` h N P. T O r.1 I e w pN m O CP Y • w = I O 0 8 Q N • w T+�,.1 .r N i• 0 S PC 6 C • I. h I 1. V > N r Y Y V P. r 01 Y V : N 2 C C i V Y O' § w g i r`s W > 0 e o 0 p N Z S • P.1 IN 6 2. I W. O .. pp .. 8 C = C N W VP MC I g °s ? s 25 s P i d CO H Q p O it 11 N.r I e.C ph pi. php O O H .O N P7 U7 YPY N m pHp .O P P 117 N h ! 117 .p N CO H ! m T■CO_P■ Y. GC N N r r N C.4 117 y7 N _ N O r .O h co h P CP 52 r.O nH N 17 O O mP P N h P M .O G. P7 CP MD O O. bra '? P N O O ! O H P N P j j y y .p ..N r r P O. OD O.N M .9 C !17 .O H m .O h H M! h O_ N H r r N M h .O r 1rj- a.! hp N = h h V9 M! h .O r us P. P = 117 m M r 117 P NO T .. h P N OD N M r r N M 1/7 h p H h .7 O h h ! M CO O H PI h = CP 0. U7 CD O 11'9 .!O O .NO CO O M ! P. {t ?N lap N r H r N N r H 117 N h C r 117 h . N r r ID 0. O O r N A M M -P .O h m 0. Y9 N h ! h Cm 42 ! O H m N O'. O P.•N ..H r N '. ! 10 N 07 ` p. _ b OD g CC O P N N ti d pS M P O ' M y . Q CD.. 11= P .. P H .O .O N H H .O N P h H Oi N ..H r N N r! N h 9d L Y ai Or.1 MC IC AC PIC IC GC 10 MC 10 DC CD IC h = = H G = =CC OC r Or L ..P. L GC m0...• G ._...H C6 P.1C. C ..O .. O Q = O M H H 117 .∎ y7 Vf Y7 P. H N N N N N N N N gm N N N CC O. • 1 1 1 r ■1111 r 1 1 1 1 r 1 1 1 1 r 1 1 1 ANT OF ISSUE: 4,185,000 REVENUES,EXPENDITURES,& REQUIRED TAX LEVIES Approved: 01-Oct-88 NET INT RATE: 6.37Z FUND 320 Curr Year: 1991 Updated: 01-Oct-91 STARTING YEAR: 1989 G.O. BONDS OF 1988 Amt Cert : 19,227 p Time: 09:52 PM ENDING YEAR: 2002 Defer Sal: 71,420 1989 1990 1991 1992 1993 1994 1995 , 1996 1997 1998 1999 2000 2001 2002 2003 TOTAL BEG. FUND BAL 493,863 518,252 247,308 149,811 111,408 100,860 89,628 78,399 66,359 53,468 42,282 41,757 41,188 40,570 40,788 REVENUE/TRANS. BONDS SOLD PROPERTY TAXES Curr/Prop Levy Delinq Coll TOTAL PROP TAXES SPECIAL ASSESSMENTS Curr - Prin(grp 11 11,903 11,903 11,903 11,903 11,903 11,903 11,903 Curt - Int (grp I) 7,324 6,271 5,231 4,185 3,139 2,092 1,046 Curr - Prin(grp 21 Curr - Int (grp 2) Sub-Total 253,700 50,924 19,227 18,181 17,134 16,088 15,042 13,996 12,949 417,241 Allow. Delinq (961) (9091 (857) 1804) (7521 (7001 (6471 (5,6311 TOTAL SPEC ASSMTS 253,700 50,924 18,265 17,272 16,278 15,284 14,290 13,296 12,302 411,610 TRANSFERS $ 18,138 600,000 664,572 665,542 635,679 581,237 552,057 522,401 431,178 90,999 85,955 80,873 51,639 140,78814,939,482 OTHER INTEREST EARNINGS 32,831 32,137 15,000 7,491 5,570 5,043 4,481 3,920 3,318 2,673 2,114 2,088 2,059 2,029 120,755 TOTAL REVENUE 286,531 101,199 633,265 689,334 687,390 656,006 600,008 569,273 538,021 433,851 93,113 88,043 82,932 53,668 (40,788)5,965,710 EXPENDITURES Debt Pyats 1st -PRIN - INT 131,071 131,071 127,881 113,869 98,969 83,619 68,119 53,156 37,956 22,519 9,319 6,806 4,275 1,725 890,355 2nd - PRIN 110,000 475,000 500,000 500,000 500,000 475,000 475,000 475,000 400,000 75,000 75,000 75,000 50,000 4,185,000 - INT 131,071 131,071 127,881 113,869 98,969 83,619 68,119 53,156 37,956 22,519 9,319 6,806 4,275 1,725 890,355 Agent Fee TOT. EXP'S 262,143 372,143 730,763 727,738 697,938 667,238 611,238 581,313 550,913 445,030 93,638 88,613 83,550 53,450 5,965,710 ENDING BALANCE 518,252 247,308 149,811 111,408 100,860 89,628 78,399 66,359 53,468 42,282 41,757 41,188 40,570 40,788 BAL. CONSISTS OF: Interest Next 131,071 127,881 113,869 98,969 83,619 68,119 53,156 37,956 22,519 9,319 6,806 4,275 1,725 Allow Delinq 6,554 6,394 5,693 4,948 4,181 3,406 2,658 1,898 1,126 466 340 214 06 TOTAL 137,625 134,275 119,562 103,917 87,800 71,525 55,814 39,854 23,645 9,785 7,147 4,489 1,811 4TRANSFERS 11. Open Const. Funds provided the transfers shown at the end of 1990. 21. One of the projects funded by this bond issue was prof. I - xxxx W. 78th Str. Re-Alignment. The project was not constructed. The proceeds have since been re-allocated to other si To insure that this bond issue is properly funded, the interest earned on the proceeds for the N. 78th project are shown as a transfer-in for 1991. 31. Transfers from TID 01 (fund 4601 represent the primary funding for the public improvement projects financed by this bond issue. Exhibit 2.9 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND t 321 IMPR. BONDS OF 1989 07:53 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF • FUND GROUP PROJ t ASS!) PRINCIPAL PRIN & INT BALANCE YEAR INTEREST PROJECT 321 1 2624 1991 27569 56,391.00 248,117.40 2000 6.001 87-17 NORTH SIDE PARKING LOT 321 1 2624 1991 43150 88,260.32 388,353.60 2000 8.001 87-17 NORTH SIDE PARKING LOT 321 1 2625 1991 18122 37,068.57 163,099.75 2000 8.001 86-118 DOWNTWON REDEVELOP PHASE 321 1 2625 1991 52048 106,461.55 468,434.34 2000 8.001 86-118 DOWNTWON REDEVELOP PHASE 321 1 2635 1991 108588 218,782.16 977,296.02 2000 8.001 88-22 TH 101/LAKE DRIVE 321 1 2635 1991 40278 81,239.89 362,500.76 2000 8.001 88-22 TH 101/LAKE DRIVE • TOTALS FOR: 321 588,203.49 42,607,802 • NOTE: When sore tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct w w 1 1 — _p _ 1 4.r/ N N h M M N H f h P N 111 O 111 g=P .� m y1►f Mf Y'f m at ., a •� ip w r R 1s I II I ■ M p .r i • w O 1S Qs . I O i�+.r N yAy P O II A_``■ e. ♦ A N i. Y•i N i I ▪1- O S lir I $ C I `O Y O ea u N on ss N i r . • ✓ so N wwS O O .a Q pW • • i . 8 N I Z 1 I lag . = St g S _ S p. 11 P _p__ pp yt 8 Fat N~AU OP ga S - 11'! 1 P pO P O O M wf oo y�1 .O Sd N h 1 0� e.:N h°S O�fY S +1 _ mm y111. p pp�� i '44 22 O 11 O P St m .NO w 4.LLy NO M ;;; �nN ;;; ::: ;:;_ i O N1 :N h : 0 i et w m M a S m A N O N N 1 YIN w 8�= ! =O .O. M N O N M N C4 40 ii 44 il N !.n NHS h =m - Nw �NS S-P w 11 44 R40 N nNw isPPt ! p t St CP P.p p 7. oft 4r w Vf M ! 1.r =p N 4 P ...-.4..... N O h ! 1 N •O en N P O CD S•..0 1 N.O M p p ym. _e.O - t N i N O A M Ow. a M M St O N�..ii at O� I W.A 119 h O P M M IA 11+= S N w = P 111 m i1 O N O O f IIf 0 o A pN O N N - 1 1 PP•••• m..h Non es IA a gF.+ I• &` .�N P O . S N i P m_ N ! r ♦ n. m M .. N P S1 a 1 f A w 0 m M 11 22 12 St N P 3 Y ¢ Q �+N J it CD Mt i I g /z G �`..O s..w =w r = E. = wi r. .. .. ... ....... •.. am.._ '1 - 1 1111 y~ .N M M~ M M Nd NN O NN N Pi .. M 1 e .O .e O .p O O O .O .O O O 411 42 N N N N N N en N N N N N • • I II I m P p. 11 m O m Ya7 H p• M .... $ O O-�4 11 O O ,z 1i A P P O .O ? O m 0. N. CV O O O 11 ~ O N N O !• . N • P O 11 .0 _ ! -. - m Na 11 O r ... p 11 r • •» a n IA .4r •• e° ii N 11 11 11 IS II 0 11 O n Co n N 11 1 11 11 H f N O 11 C 1 N 11 11 1 II 11 11 1 .N+ oe i ° n N 11 O CO P. 11 4 ,a 1 CO 11 f 11 11 • A y Q M• SN 11 .p p CV i Y m ly jj p O O p O V L 11 O N N O V Y Ill IS la NI MP Y Q C 11 y S N 11 r NA II 0 Y9 N P r O S ? AAA la ' M A CO N = P N y .7 ^ .p 0. op 8S �./p'� pm. I/� 8S 8 $ 8 Mm I N It ? O O !� m T .�O N M O IfJ .O N .O T_117 fI• N A 1� N N y N N 11 A m WI M y P co m 11 r h m Or 17 P a NO P 0 N S S _ N pp pp 8 r r in ori N O O A N r m y N - O H yam! m p-. WI N - II S Q r III 4/1 II 1W O.01 t 01 42 ON r ... O CO II'7 o h m P 117 P• ■ r 11 r A A N Ni •.• y N N m r ¢ O N p p la WI Pa W m 1 WI p _ .. p Yt r▪ 11 WI O g A 1n N 0 N, 0 A S — 1S O - Ni 0 11 N p� • S. 0 CV r II C. ^ N h H r I. ... - P O. .•! m O _ r ==L1/ ,1 N Q o p 0• P P W ? • 11 O A A M O .r O O O e� g 11'! V'! Ia ¢ W 11 .. ... N P H = p�IVff! 1+= m y7 M N 0 ±y C 11 P CP CP N P h∎ .0.1 0 O N = Spp ..pp - ~ m I W O O I O 1� P O m ~ ¢ Z 2 11 ^ CI o .O 11 pp pp ■ _ W m il'f O N h pp S pp 8 pp O 11 O O ? .p N..f I� O m it H y W IC O II � Np .Np P {17 O U'! m .11p7 m H m.W 0 11 P 2 2 N r 0 H m T A .^. 1 $ CP CP CO f T CD Ca H W P 11 C O O 1� O m I.P'! $ m P O mf0 • ¢ ;; 1 7 N r S m A P m ' m 11 p p p epO e m II 11 P O O n N -- O m pxp O tl7 V1 O A V!N O 11 M .pp.pO O .O y .p co. : t ; CP NI ▪ CO N ..f n w p S .p �'in 11 N ' N M = r' N n V! ! N 1/7 Ai II p� O N 11 ill pp pp m S 8 S S • pp m er•P. V7 11 h O O .NO H P f P_ .PO O .O i eV 3 N m 11 mi. 0 0 P p m m • y r {/� {cps .• N Iff N N N N f N Pa S N N P. y VI O 11.11 to la eg 1 P G Q C P I 11 0111 f ' N 1� r N .O CO M v O M R CP M e h 0. O ,1 N r r N P N N ! i/7 a N S C O 11 V7 w N. -P.. 11 P m m O M, ■ O M y m \L 11 N N r g A M O-=N 11 11'! N N N N N Y M L A r11 m g e .`. A O II C P II o. S P O 11 ao I1 Of _ _ _ _ C.O r N 11 r _ yy9 117 11 N N N r N N H L 11 > C Z L L L L N N • .O > w p. p..P. = O M• S. W W 6 G C 1" O a W ` `n .°. .°. 4.l QZ =i =r Lys/ t O .Vr N Q a 6 el m W H u 4yf `-S r A C G O 6• N N G 4 ._.. N i G ..C�. {yy1 ¢J N r ¢ a 11 O V ` = J Q 1 1 1 1 ` • y N W N > 1 1 I 1 W m = O C t(�� 1 {� O i � J r y w I - - Z 1 O LL Q J ► L 1 O W C �- - y .Z W = . C > > > LJ W W O W • c O a i W y = W 1... Z 11▪ W W p O V W G� 4i i.i C.i w 6 Q S Y O _ O ..�i Q N Q Z N W 11 m ¢ m O Z O i i Q 4L C I- W W m ■ NMI 011111111111111111 •11111111111111111111111111111= 1•1111111111111111111111111111110111111111111M11 Exhibit 2.10 SPECIAL ASSESSMENT INFORMATION 01-Oct-91 FUND 1 324 IMPR. BONDS OF 1990 07:59 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ I ASSO PRINCIPAL PRIN & INT BALANCE YEAR INTEREST PROJECT 324 1 2636 1992 269,979 2000 8.001 89-10 FRONTIER TRAIL 324 1 2637 1992 767,063 2000 8.001 89-6 LAKE DRIVE EAST • TOTALS FOR: 324 $1,037,042 • NOTE: When sore tha 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct - - _C4 op S2� • § ■ §/� 2E � \� � III k • li.1 . &. § i6/ § E▪ V' ~ . I$ ... .P. a.f 1� k . _2c - g 5 § • k .... , III 4M 0 off At a ■ III ro Cm \ III r4 ■ ye P. § P. P. § ^ VI §e - ® § pm #^/ OPCC III - 0. P.$§ § PM§ §£\ a L. — - © '_ r£/ I / - _ am PC _O. 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BONDS OF 1991 08:02 PM YEAR To Be CURRENT CURRENT DEFERRED ENDING PERCENT DESCRIPTION OF FUND GROUP PROJ / ASSO PRINCIPAL PRIM 6 INT BALANCE YEAR INTEREST PROJECT 391 l 2638 1993 406,600 2001 8.001 90- MINNEWASHTA PARKWAY 391 1 2639 1992 111,035 1999 8.001 CHANHASSEN LAKES-MATER 391 1 2640 1992 71,135 1999 8.001 CHANHASSEN LAKES-STREET • • TOTALS FOR: 391 6588,770 • NOTE: When sore the 10 projects exist in one bond issue, a second group number and selection if required to insure distribution sheet is correct I f E S&E E§ X22 t§- 8�� ©G ��/ • §26 I ■ m if I§ .\7 Ad §f 1 . a.- - \ I 9S Ps •• } � I 26.1.2 . .. 3_ ! § ! . i.... 1 . III a k III § III S1 CO CP OD § ��� St 2 a. . III .- § S§ B S§§ SOS kV at_ � �� us re E She• §§§ 2 - §§St I ■§� �.� ■-- — - § - Ps�GP E1E SI§ 2u, ■ §.2@ . ■OP§^e. ■ ■ — - -- /£� _■ 2.f § , S§. 2§ \ §S � �■§ § III ££� ��■ .�� ��� • g SX§ 2$el §25 Ow WI PI K�� .�£ s - /�� I , E S9S 2E§ §G§ • S@ £ 4"7.47;4: 4 IR ta SS III C. 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I MI INN Exhibit 2.12 DEBT ANALSIS REPORT Exhibit 2.12 REVENUES,EMPENDITURES,& FUND TRANSFERS Approved: FUND DEBT REVOLVING FUND Updated: 01-Oct-91 Time: 08:14 PM 1991 1992 1993 1994 1995 1996 1991 1998 1999 2000 2001 2002 2003 IOTA BEG. FUND BAL 342,641 414,441 986,301 997,165 1,006,879 1,009,385 1,443,714 1,443,714 1,443,714 1,443,714 1,443,714 1,443,714 1,443,714 REVENUE/TRANS. PROPERTY TAXES TRANSFERS-IN Bonds of 72-73 247,079 3,163 2,999 2,835 2,671 2,507 261,254 Ref. Bonds of 78 86,449 60,131 5,645 152,232 Bonds of 03 555,326 752 376 Ref. Bonds of 83 556,454 434,329 434,329 Bonds of 84 9,112 8,501 7,889 ' 7,278 6,666 39,447 Total Transfers-In 342,641 71,801 571,859 10,865 9,713 2,507 434,329 1,443,714 OTHER INTEREST EARNINGS 17,132 20,722 49,315 49,858 50,344 50,469 72,186 72,186 72,106 72,186 72,186 72,186 670,955 TOTAL REVENUE 342,641 88,933 592,581 60,180 59,571 52,851 484,798 72,186 72,186 72,186 72,186 72,106 72,186 2,114,669 EMPS.ITRANSFERS OUT Ado Charge 17,132 20,722 49,315 49,856 50,344 50,469 72,186 72,186 12,186 12,186 72,186 72,186 TOT. EMP'S 17,132 20,722 49,315 49,858 50,344 50,469 72,186 72,186 12,186 72,186 72,186 72,186 ENDING BALANCE 342,641 414,441 986,301 997,165 1,006,879 1,009,385 1,443,714 1,443,714 1,443,714 1,443,714 1,443,714 1,443,714 1,443,714 3,558,383 i - r ■■II - 1 - • MN MN 1 1 1 - 1 1 r M 1 Exhibit 3.1 DEBT ANALSIS REPORT Exhibit 3.1 ORI6 PAIN $1,510,0 REVENUES,EXPENDITURES,& REQUIRED TAX LEVIES Updated: 01-Oct-91 INTEREST RATE: 7.5 FUND 305 09:06 PM STARTING YEAR:, 198 MUNCIPAL BUILDING BONDS OF 1980 ENDING YEAR: 200 1986 1981 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 TOTAL BE6. FUND BAL 93,639 108,411 122,708 137,094 155,138 169,702 185,021 211,869 238,724 266,092 294,208 327,958 361,827 400,750 439,353 28,980 REVENUE/TRANS: Bond Proc/Trans 4,612 Interest 3,372 4,052 5,668 7,610 9,253 8,549 9,848 11,627 13,240 14,877 16,741 18,761 20,973 23,313 168,957 Scheduled levy 146,100 148,900 151,300 153,400 155,100 156,500 162,700 173,400 177,600 186,300 193,700 199,700 204,400 207,800 215,000 2,914,200 Adj to Levy 40,000 Total levy 146,100 148,900 151,300 153,400 155,100 156,500 162,700 173,400 177,600 186,300 193,700 199,700 204,400 207,800 215,000 2,954,200 Allow Delinq 4,564 3,322 1,845 3,475 18,794 Other Adj (1,398) (456,910) (458,1691 TOTAL ASSETS 247,675 264,685 281,521 301,579 318,093 334,750 357,568 396,896 429,564 467,270 504,649 546,419 587,200 631,863 197,444 2,717,374 EXPENDITURES Debt Pysts Feb. 1st-PRIN INT 52,061 50,889 49,549 48,041 46,366 44,510 42,470 31,181 28,806 26,076 22,866 19,291 15,195 10,700 5,642 600,572 Aug. lst-PRIN 35,000 40,000 45,000 50,000 55,000 60,000 60,000 95,000 105,000 120,000 130,000 145,000 155,000 170,000 185,000 1,505,000 INT 52,061 50,888 49,549 48,041 46,366 44,510 42,470 31,181 28,806 26,076 22,866 19,291 15,195 10,700 5,642 600,569 Agent Fee 142 200 329 359 660 710 760 810 860 910 960 1,010 1,060 1,110 1,160 11,233 TOT. EXP'S 139,264 141,977 144,427 146,441 148,392 149,730 145,700 158,172 163,472 173,062 176,692 184,592 186,450 192,510 197,444 2,717,374 ENDING BALANCE 108,411 122,708 137,094 155,138 169,702 185,021 211,869 238,724 266,092 294,208 327,958 361,827 400,750 439,353 (0) NE MI MI r MI 1 MI NM NM 1 MI NE NM 1 MI NS UM Exhibit 3.2 Exhibit 3.2 DEBT ANALSIS REPORT ORIG PRIN $1,200,000 REVENUES,EXPENDITURES,6 REQUIRED TAX LEVIES Other Information 01-Oct-91 INTEREST RATE: 6.91. FUND 316 09:06 PM STARTING YEAR: 1989 FIRE STATION & EQUIP BONDS OF 1908 Interest Earnings 0.07 ENDING YEAR: 2003 Delinquency Rate 0.05 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 TOTAL BEG. FUND SAL 6,640 16,929 37,541 67,701 77,717 94,054 116,951 121,115 132,955 153,086 155,850 168,111 164,320 171,508 166,801 REVENUE/TRANS. Bond Proc/Trans 6,498 6,498 Interest 142 (6051 964 2,910 3,766 4,537 5,747 6,113 6,490 7,406 7,589 7,885 7,534 7,388 6,743 74,610 Scheduled levy 126,000 109,000 108,000 132,000 130,000 126,000 149,000 144,000 139,000 160,000 153,000 172,000 163,000 180,000 169,000 2,160,000 Adj to Levy 4,000 16,000 22,000 500 5,000 11,250 (9,0001 11,5001 6,000 (12,500) (3,000) 119,5001 18,0001 120,0001 16,5001 115,2501 Total levy 130,000 125,000 130,000 132,500 135,000 137,250 140,000 142,500 145,000 147,500 150,000 152,500 155,000 160,000 162,500 2,144,750 Allow Delinq Other Adj 11,1261 1168,5011 1169,6271 TOTAL ASSETS 6,640 136,035 141,766 170,451 203,967 217,254 237,051 263,065 270,105 285,361 308,175 313,736 328,145 326,708 338,251 160,800 2,056,231 EXPENDITURES Debt Pymts May 1st - PRIN INT 53,775 39,613 38,875 38,125 36,600 35,050 33,475 31,075 28,638 26,163 22,813 19,413 15,100 10,725 5,400 434,838 Nov 1st - PRIN 25,000 25,000 25,000 50,000 50,000 50,000 75,000 75,000 75,000 100,000 100,000 125,000 125,000 150,000 150,000 1,200,000 INT 40,331 39,613 38,875 38,125 36,600 35,050 33,475 31,075 28,638 26,163 22,813 19,413 15,100 10,725 5,400 421,394 Agent Fee TOT. EXP'S 119,106 104,225 102,750 126,250 123,200 120,100 141,950 137,150 132,275 152,325 145,625 163,825 155,200 171,450 160,800 2,056,231 ENDING BALANCE 6,640 16,929 37,541 67,701 77,717 94,054 116,951 121,115 132,955 153,086 155,850 168,111 164,320 171,508 166,801 BAL. CONSISTS OF: 57 Req. Res. 5,211 5,138 6,313 6,160 6,005 7,098 6,858 6,614 7,616 7,281 8,191 7,760 0,573 8,040 May Int. Pyst 38,875 38,125 36,600 35,050 33,475 31,075 28,638 26,163 22,813 19,413 15,100 10,725 5,400 TOTAL 5,211 44,013 44,438 42,760 41,055 40,573 37,933 35,251 33,779 30,094 27,604 22,860 19,298 13,440 1 1 1 1 x 1 1 1 1 1 1 1 1 1 1 11111 w 1 1 Exhibit 3.3 Exhibit 3.3 DEBT ANALSIS REPORT ORIG PRIN $835,000 REVENUES,EXPENDITURES,4 REOUIRED TAX LEVIES Other Information 01-Oct-91 INTEREST RATE: 6.8% FUND 323 09:06 PM STARTING YEAR: 1990 PARK AND EQUIPMENT BONDS OF 1989-C Interest Earnin 6.00% ENDING YEAR: 2004 Delinquency Rat 5.00% 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 TOTAL BEG. FUND BAL 4,685 60,007 93,750 104,095 112,422 118,977 129,216 138,217 146,216 158,718 170,901 183,109 195,762 209,306 224,211 REVENUE/TRANS. Proc/Trans 4,685 4,685 Interest 1,052 2,293 2,845 3,278 3,605 4,139 4,600 5,000 5,652 6,282 6,908 7,554 8,244 9,005 70,456 Scheduled levy 90,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,490,000 Adj to Levy Total levy 90,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,490,000 Allow Delinq Other Adj 1813) (231,1111 (231,924) TOTAL ASSETS 4,685 94,924 162,300 196,595 207,372 216,027 223,116 233,817 243,216 251,868 265,001 277,809 290,662 304,006 318,311 93,100 1,333,217 EXPENDITURES Debt Pysts Feb. 1st - PRIN 10,000 40,000 45,000 50,000 50,000 55,000 60,000 60,000 65,000 70,000 75,000 80,000 85,000 90,000 835,000 INT 31,700 26,850 25,650 24,300 22,750 21,150 19,450 17,550 15,600 13,500 11,200 8,700 6,000 3,100 247,500 Aug. 1st - PRIN INT 31,700 26,850 25,650 24,300 22,750 21,150 19,450 17,550 15,600 13,500 11,200 8,700 6,000 3,100 247,500 Agent Fee 3,217 TOT. EXP'S 34,917 68,550 92,500 94,950 97,050 93,900 95,600 97,000 93,150 94,100 94,700 94,900 94,700 94,100 93,100 1,333,217 ENDING BALANCE 4,685 60,007 93,750 104,095 112,422 118,977 129,216 138,217 146,216 158,718 170,901 183,109 195,762 209,306 224,211 BAL. CONSISTS OF: Feb. Next P41 41,700 66,850 70,650 74,300 72,750 76,150 79,450 77,550 80,600 83,500 86,200 88,700 91,000 93,100 5% Req. Res. 3,428 4,625 4,748 4,853 4,695 4,780 4,850 4,658 4,705 4,735 4,745 4,735 4,705 4,655 TOTAL 45,128 71,475 75,398 79,153 77,445 00,930 84,300 82,208 85,305 88,235 90,945 93,435 95,705 97,755 1 1 1 1 11101 1 1 1 1 1 1 1 1 1 1.11 1 1 1 • Exhibit 3.4 Exhibit 3.4 FINANCIAL PROJECTION Approved: Delinq. Rate 5% EQUIPMENT REVOLVING FUND - 209 Updated: 01-Oct-91 Interest Rate 71 (SHORT TERM DEBT SCHEDULE) 09:06 PM 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 11E6. FUND BAL 101,716 151,049 112,970 294,703 361,224 624,910 678,528 736,765 799,446 866,880 939,401 1,017,364 1,101,152 1,191,171 1,287,857 1,391,679 1,503,133 1,622,756 1,751,119 REVENUE Property Taxes Property Taxes (cert) 105,000 215,000 230,000 278,200 310,300 321,000 331,700 342,400 353,100 363,800 374,500 385,200 395,900 406,600 417,300 428,000 438,700 Other 7,232 11,939) Sub-Total Prop Taxes 112,232 213,061 230,000 278,200 310,300 321,000 331,700 342,400 353,100 363,800 374,500 385,200 395,900 406,600 417,300 428,000 438,700 Other Revenue Bond Proceeds 184,441 278,200 310,300 321,000 331,700 342,400 353,100 363,800 374,500 385,200 395,900 406,600 417,300 428,000 438,700 449,400 Interest Earnings 5,603 2,110 8,558 21,230 15,486 33,318 37,237 40,980 45,034 49,421 54,164 59,288 64,819 70,787 77,221 84,155 91,623 99,663 108,315 Other 231 15,444 Sub-Total Other Rev 190,275 2,118 8,558 36,674 293,686 343,618 358,237 372,680 387,434 402,521 417,964 433,788 450,019 466,687 483,821 501,455 519,623 538,363 557,715 TOTAL REVENUE 190,275 2,118 120,790 249,735 523,686 621,810 668,537 693,680 719,134 744,921 771,064 797,588 824,519 851,887 879,721 908,055 936,923 966,363 996,415 EXPENDITURES Contractual Services 840 Fees Service 3,590 Other 2,592 Total Cont. Serv. 6,182 Capital Outlay Vehicles 19,760 135,000 92,861 204,264 Equipment 115,000 60,680 109,128 118,000 Total Cap Outlay 134,760 195,680 201,989 322,264 260,000 290,000 300,000 310,000 320,000 330,000 340,000 350,000 360,000 370,000 380,000 390,000 400,000 410,000 420,000 Debt Service Principal 260,000 290,000 300,000 310,000 320,000 330,000 340,000 350,000 360,000 370,000 380,000 390,000 400,000 410,000 Interest 18,200 20,300 21,000 21,700 22,400 23,100 23,800 24,500 25,200 25,900 26,600 27,300 28,000 28,700 Total Debt Service 278,200 310,300 321,000 331,700 342,400 353,100 363,800 374,500 385,200 395,900 406,600 417,300 428,000 438,700 TOTAL EXPENDITURES 140,942 195,680 201,989 323,104 260,000 568,200 610,300 631,000 651,700 672,400 '693,100 713,800 734,500 755,200 775,900 796,600 817,300 838,000 858,700 OTHER INCREASES IDECR'S) Transfers In Other Transfers( 3,500 77,000 Refunding Bonds of 78 155,483 174,439 128,518 Bonds of 1984 11,493 11,372 Total Transfers In 3,500 155,483 262,932 139,890 TOTAL RES. OVER L1A - 151,049 112,910 294,703 361,224 624,910 678,528 736,765 799,446 866,880 939,401 1,017,364 1,101,152 1,191,171 1,287,857 1,391,679 1,503,133 1,622,756 1,751,119 1,888,034 REQUIRED RESERVE Capital -Next 270,000 260,000 568,200 610,300 631,000 651,700 672,400 693,100 713,800 734,500 755,200 775,900 796,600 817,300 838,000 858,700 + 51 -Reserve 13,500 13,000 28,410 30,515 31,550 32,585 33,620 34,655 35,690 36,725 37,760 38,795 39,830 40,865 41,900 42,935 Total Required Reserve 283,500 273,000 596,610 640,815 662,550 684,285 706,020 727,755 749,490 771,225 792,960 814,695 836,430 858,165 879,900 901,635 FUND BALANCE 24,703 88,224 28,300 37,713 74,215 115,161 160,860 211,646 267,874 329,927 398,211 473,162 555,249 644,968 742,856 849,484 1,888,834 1 1 1 r 1 1 ! 111111 1 1 1 1 1 1 1 1 1 1 1 Exhibit 4.1 CITY OF CHANHASSEN - TAX INCREMENT DISTRICT Ill Approved: 16-Feb-89 COMBINING STATEMENT OF ASSETS AND LIABILITIES Updated: 02-Oct-91 Tax Collect 95 7. MASTER CONTROL FUND 460 07:50 AM Int Earnings 5 X 1490 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 BEG. BALANCE 795,079 1,323,874 1,138,826 1,134,694 926,018 1,128,909 1,429,591 2,759,783 4,204,410 5,763,039 7,679,280 10,074,888 11,706,079 15,139,486 REVENUE Ref Tax lncrmt 162 2,218,462 3,749,988 4,191,738 4,191,738 4,494,788 4,494,788 4,494,788 4,494,788 4,494,788 4,494,788 4,494,788 4,494,788 4,494,788 4,494,788 Del. Taxes Interest 62,435 104,520 100,653 99,613 94,089 104,613 123,872 190,597 263,018 342,128 439,549 555,679 644,397 821,956 Rent Income Sale of Prop. HRA Note Loan Program Other TOT. REV, 2,280,897 3,854,508 4,292,391 4,291,351 4,598,877 4,599,400 4,618,660 4,685,385 4,757,806 4,836,915 4,934,337 5,050,467 5,139,185 5,316,743 EXPENDITURES HRA Admin. 5 317,293 208,500 214,755 221,198 227,834 234,669 241,709 248,960 256,429 264,122 272,045 280,207 280,613 297,271 Cap. Exp's & Bev. Intent 4 547,311 918,275 813,729 768,682 723,634 678,587 500,319 452,034 419,789 393,359 366,929 136,712 Bond Pmyt's 6 507,920 2,912,781 3,268,039 3,510,148 3,434,518 3,385,464 2,546,441 2,539,763 2,522,960 2,263,194 1,899,755 3,002,357 1,417,164 Loan Program TOTAL EXPEND 1,372,524 4,039,556 4,296,523 4,500,028 4,385,985 4,298,719 3,288,468 3,240,757 3,199,177 2,920,674 2,538,729 3,419,275 1,705,777 297,271 TRANSFERS Land Proc to 379,578 Hist. Pres.; ENDING BALANCE 1,323,874 1,138,826 1,,134,694 926,018 1,128,909 1,429,591 2,759,783 4,204,410 5,763,039 7,679,280 10,074,888 11,706,079 15,139,486 20,158,959 BALANCE CONSISTS OF: LOAN BALANCES 151,974 144,434 136,668 128,669 120,430 111,944 103,204 94,201 84,928 75,377 75,377 75,377 75,377 75,377 50% P&I NEXT 1,456,390 1,634,019 1,755,074 1,717,259 1,692,732 1,273,220 1,269,881 1,261,490 1,131,597 949,878 1,501,178 708,582 NON-DESIGNATED (284,4901 (639,627) (757,0481 (919,9101 (684,2531 44,427 1,386,697 2,848,729 4,546,514 6,654,026 8,498,332 10,922,120 15,064,109 20,083,582 t A Land Sale Transfer, consistent with previous policy, is shown in 1990 (257,979 + OX Intl designated to fund 472. • MI 1 MS 1 NM 1 1 NM 1 - r - • S i 1 EN 1 I Exhibit 4.2 CITY OF CHANHASSEN - TAX INCREMENT DISTRICT MI Approved: 16-Feb-89 MASTER CONTROL FUND 460 Updated: 02-Oct-91 TAX CAPACITY, TAX CAPACITY RATES TAXES & DELIQUENTCIES DELINQUENT INFORMATION CAPTURED TAX CAPACITY CAPTURED NEW TOTAL X Inc CURR &DEL COLL CURR CURR DEL YEAR MKT VALUE CAPACITY RATE (1) TAX (2) CONST (21 TAX (prey REC'D RIFF RATE DEL PAID DAL 1982 $334,676 $334,676 $331,366 $3,310 99X $7,980 1983 ' $412,230 $412,230 $386,562 $25,668 942 $22,695 1984 $1,221,528 488,611 0.9557 $466,953 $466,953 51.01 $610,939 ($143,9861 1311 $61,219 1985 $1,754,144 701,658 0.9223 $647,171 $647,171 27.81 $851,803 ($204,632) 1321 $33,527 $79,627 $45,794 1986 $2,187,779 875,112 1.0161 $889,235 $889,235 27.2% $944,430 ($55,195) 1061 $70,338 1987 $2,395,081 958,032 1.0088 $966,419 $966,419 8.01 1,086,939 ($120,520) 1121 $189,203 1988 $41,249,760 2,062,488 0.8877 $1,830,871 $1,830,871 47.22 1,829,988 $883 1001 $220,792 1989 $43,312,220 2,165,611 1.0000 $2,165,611 $2,165,611 15.51 2,035,048 $130,563 941 $202,080 1990 $43,907,040 2,195,352 1.1023 $2,419,917 $2,419,917 10.51 2,218,462 $201,455 921 $391,027 1991 $71,770,100 3,588,505 1.1000 $3,947,356 $3,947,356 38.7% 1992 $80,224,645 4,011,232 1.1000 $3,947,356 $465,000 $4,412,356 10.5X 1993 $80,224,645 4,011,232 1.1000 $3,947,356 $465,000 $4,412,356 1994 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,731,356 6.7X 1995 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,731,356 1996 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,131,356 1991 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,731,356 1998 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,131,356 • 1999 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,731,356 2000 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,731,356 2001 $86,024,645 4,301,232 1.1000 $3,947,356 $184,000 $4,131,356 2002 $86,024,645 4,301,232 1.1000 $3,941,356 $784,000 $4,131,356 2003 $86,024,645 4,301,232 1.1000 $3,947,356 $784,000 $4,731,356 Notes: 1) Prior to 1989, Minnesota's tax laws established "assessed value" and "mill rate" to calculate taxes. The post 1989 change was not materially significant in that neither the beginning "Market Value" nor the resulting taxes paid were changed. Accordingly, this report converts the previous "assessed value" and "mill rate" to the current state law multipliers defined as "Tax Capacity" and "Tax Capacity capacity rate" (402 vs current 52) 2) Both "Tax Capacity" and "Captured Tax" are calculated by the county assessor & county auditor's office. These records have been summarized in both exhibits 1 & 2 (next section of report). Exhibit 1 represents the current year with Exhibit 3 being a historical reference by parcel. 3) "New Construction" represents building nearing completion, but not currently taxed or special projects where the taxes are dedicated for a period of years (Rosemount, Empak, Roberts, etc.). In each case a development contract exists establishing the minimum market value and taxes to be paid. Exhibit 2 reflects those agreements, guaranteed taxes, and the dates such becomes available to the larger district. Cost-of-Living is not considered. Exhibit 4.3 CITY OF CHANHASSEN - TAX INCREMENT DISTRICT 01 Approved: 16fpb-89 MASTER CONTROL FUND 40 Updated: 02-Oct-91 ADMINISTRATIVE EXPENDITURES ADMIN. [XP'S 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Personal Serv. $105,127 $122,000 Commodities $105 $1,500 Cont. Serv's $132,449 $50,000 Capital Outlay $59,612 $15,000 Oper. IN Bldg. Interest Adm Trans-Gen. $20,000 $20,000 TOTAL $317,393 $208,500 $214,755 $221,198 $227,834 $234.669 $241*709 $248,960 $256,429 $264,122 $272,045 $280,207 $288,613 MORE THAN THE PREVIOUS YEAR HAS BEEN ADDED TO ALL COLUMNS NOT ITEMIZED ' . IIIIIII 111111 IIIII OM MB Mili Mili iii. NM NMI OM IIIIII MN NM 111111 MI SIM MI 11111 . • II O` a N 11 O U7 N O O O M h C. 11 a ., ¢ P 11 aa . . . . .0 .. 0 a , M M 11 a �a�1 a. H M a a O N O O 11 O ao W O 11 P O O f a N N . 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O a O M P m Z Si N • P�H P U7 .0�.0 A O a P /1 O O N P H 117 CO m 11 a O a CO 117 0 M CO U) a ')QI~ OI 42 W2�1 W L1.1 II IS �,h .p 11 N CO O A .a O C. O M P. o U. II 0- 0 O m .0 N7 M P N Q11 N N O O O . ,.,1 H .0 N N N H H In II 41 N7 Cl) r r r ..l O6 „ a an ` W M II Z ~ u W • i/) 11 N II N 11 C H H A d CO P P O ~ 11. C 11 /■ O ID CO G17 CO 0 ! L. 11 = CC 0. 0 = CO m 0 ! P 11 ~ ? T m O O CO CO m ! P 11 S 1 1 I M S P P P P 0. 1 Is II Q H U. I.L CO U. 4. O C w D U) I.. Cl) 11 Cl)N 11 w CO O O 0- 0 a m Co Q m 1/ Q in a a U. 0 Is. a U. O O w 0 11 wm `o` 0000mmam P 11 co.. G19 Cl) U) Cl) W W FS• W ! • II O a 1D 0 U. . . . . . . M W N a CAI N N Cr W W a W C 11 ly = = Z O Z Z m m O m 11 O = C O . . . . . . J I. Sr 11 ....1 a m m CO m m i! CC w )Q.e ft z . . . . . . O m ""' a If "a 00000a ¢ wQ N ig 1g cc CC LI 4C ly to Li lam /- comer- � e .r. „ y �e`ace .- W: mco � � O 6.- Exhibit 4.9 CITY OF CHANHASSEN - TAX INCREMENT DISTRICT 41 Approved: 16-Feb-89 DEBT SERVICE COSTS - TAXABLE TI BONDS OF 1989 Updated: 02-Oct-91 Tot Bonds Sold: $725,000 MARKET SQUARE - FUND 322 07:50 AM Net Int: 9.3X 1989 1990 1991 1992 1993 1994 1995 1996 1997 TOTAL BEG. FUND BAL 56,049 31,054 109,804 185,404 231,525 312,300 REVENUE/TRANS. Bond Proceeds 56,049 Interest 2,124 2,714 4,650 5,862 7,886 23,237 Tax Incr. Transfers 12,313 135,186 202,100 237,334 305,689 892,623 Devel Re-iib Other TOTAL REVENUE 56,049 14,438 137,900 206,750 243,196 313,575 971,908 TOTAL ASSETS 56,049 70,487 168,954 316,554 428,600 545,100 312,300 EXPENDITURES Debt Pyats 2/1 - PRIN 75,000 150,000 200,000 300,000 725,000 INT 29,575 29,575 26,575 20,500 12,300 118,525 8/1 - PRIN INT 39,433 29,575 26,575 20,500 12,300 128,383 Agent Fee TOT. EXP'S 39,433 59,150 131,150 197,075 232,800 312,300 971,908 ENDING BALANCE 56,049 31,054 109,804 185,404 231,525 312,300 BAL. CONSISTS OF: Feb RI -Next 29,575 104,575 176,575 220,500 312,300 5X Req. Res. 1,479 5,229 8,829 11,025 TOTAL 31,054 109,804 ' 185,404 231,525 312,300 i • I MI I • - • - MI MI MI • - - - NM E N Exhibit 4.10 CITY OF CHANHASSEN - TAX INCREMENT DIST III Approved: 16-Feb-89 DEBT SERVICE COSTS - LAND WRITE CONTRACTS Updated: 02-Oct-91 07:50 AM 1988 1989 1990 1991 1992 1993 1994 1995 1996 TOTAL DEVELOPER RE-IMBURSEMENTS EMPAK 119,483 119,483 119,483 358,449 ROBERTS AUTOMATIC 53,700 53,700 53,100 161,100 ROSEMOUNT 171,000 ALLOW/NEW CONTRACTS 150,000 150,000 150000 TOTAL 290,483 323,183 323,183 203,700 519,549 MINIMUM PROPERTY TAX PAYMENT t • EMPAK 183,600 183,600 ROBERTS AUTOMATIC 94,000 94,000 94,000 282,000 Notes: 111 The Development Agreement for these projects require the developer to pay property taxes on the basis of a minimum property value. Tax calculations, using this minimum value, produce the minimum tax shown above. The reimbursement is the land acquistion cost incurred by the developer. The "minimum tax" is typically more than the re-imbursement amount as special assessment reductions must be subtracted from the total maximum incentative payment which equals three years of taxes. ,er�---iii-ii -i u Ei N -s -- " Ism r-m ���r-ami --"-�r--.-mr-"-..r�r ... 1,.'1 Exhibit 4.11 E ,I >- BRC TAX SYSTEM CARVER COUNTY r„ajiO4/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 6 '•=ITIF DISTRICT 025 CHANHASSEN TIF Al _ ., ************************s*************************** 'A YEAR R PARCEL NAME BASE BASE CURRENT RC YR/MO CLSF H PCT LAND -_ --- BLDG SITE HG MACH IC GROSS ' TC NET NET TC CAPTURED TC , 1911991 R 25.0121100 0 0004853 CITY OF CHANHASSEN TIF if 025 CAPTURED % 95.5529 =VI. 001 77/12 233 0 000 - 2.740 20,800 0 0 0 753 753 2,922 2.792 '- 1991 R 25.0121300 0 0005169 HOUSING G REDEVELOPMENT AUTH TIF # 025 CAPTURED % 95.5529 /� .i .- 001 77/12-_ 958-0 000- -__ --- -600---- 0 0 0 0 0 - 0 0 0 1991 R 25.0121400 0 0004853 CITY OF CHANHASSEN TIF if 025 CAPTURED % 95.5529 ,,,1 001 77/12 958 0 000 64000 8,275 0 0 0 0 0 0 0 eN',f1991 R 25.0121500 0 0004818 CHANHASSEN HRA TIF if 025 CAPTURED X 95.5529 1,9! 001 77/12 233 0 000-- ----- 5:020----_.._ 159000 0 0 0 641 - - - -641 3:903 3.729 °17,i4991 R 25.0121700 0 0004853 CITY OF CHANHASSEN TIF if 025 CAPTURED % 95.5529 001 77/12 958 0' 000 - 4:410' - `98,000 0 0 0 0.- 0- 0 0 0:,41991 R 25.0121800 0 0058320 CHANHASSEN MEDICAL ARTS TIF if 025 CAPTURED % 95.5529 - 001 77/12- 250 0 000-- - -- 5,000 .0 0 0 0 --- 248- - .____248 - 1.723 1.646-. _. ,,1991 R 25.0121900 0 0058320 CHANHASSEN MEDICAL ARTS TIF if 025 CAPTURED % 95.5529 .,11 001 77/12 250 0 000 •` 7.300- "�. " - 0 0 0 0 361 --. 361 5,071 4.845 1991 R 25.0122000 0 0059201 RICHARD W STEINER JR TIF if 025 CAPTURED % 95.5529 „ 001 77/12- 233-0-000- ------94700- -----9-84000 - - 0 0 - 0 3.58"1 _.._ .-"-.----3,58I -- 8:759 84369 - 0;1991 R 25.0122010 0 0005169 HOUSING E REDEVELOPMENT AUTH TIF it 025 CAPTURED %G 95.5529 +1„ 001 77/12 958 0 000 `"° 1.200 "-`• --"". 0 0 0 0 '0 '0 0 0 k7,11991 R 25. 0122200 0 0009650 MITHUN ENTERPRISES INC TIF if 025 CAPTURED X 95.5529 ;i 001 77/12 250 0-000- ----6:000 - 0 -. 0 0 0 297 ----_ ""`' 297 78.292 74.810 -- =I ',011991 R 25.0130100 0 1 V 0005164 WILBAR PROPERTIES INC TIF if 025 CAPTURED % 95.5529 1, 001 77/12 233 0 000 3,660 19.275 0 0 0 734 " -. 734 2,858 2.731 14, 171,,11991 R 25.0130110 0 0004853 CITY OF CHANHASSEN TIF A 025 CAPTURED % 95.5529 H 001-77/12 9580-000 2:340 - -- -- 0 - 0 0 0 0 - 0- 0 .0 a4 44- 1991 1 R. 25.0130200 0 0003225 MINNEGASCO, INC TIF # 025 CAPTURED % 95.5529 54 146 00 77/12 240 0 000" -- 740 740 0 0 1.320 134 - - 134 . 139 133 4• „ 1991 R 25.0130300 0 0005169 HOUSING G REDEVELOPMENT AUTH TIF if 025 CAPTURED % 95.5529 001 77/12 958 0 000 4.174 0 0 0 0 0 0 0 0 4JR<, ,, 1,11991 R 25.0130400 0 0005167 FRONTIER DEVELOPMENT CORP TIF if 025 CAPTURED % 95.5529 ni 001 77/12 250 0 000 2.005 0 0 0 0 99 99 5,935 5.671 ,41991 R 25.0130410 0 0004853 CITY OF CHANHASSEN TIF 1 025 CAPTURED a 95.5529 1 001 77/12 900 0 000 4.711 0 0 0 0 0 0 0 0 - 01 1 1 0 BRC TAX SYSTEM I2. 04/02/91 11:24:58 TIF PARCEL MODELER CARVER COUNTY ^� TA926L PAGE 7 J4.TIF DISTRICT 025 )CHANHASSEN TIF #1 I% YEAR R PARCEL NAME BASE BASE CURRENT J ,/ RC YR/MO CLSF H PCT LAND BLDG SITE HG MACH - TC GROSS TC NET NET TC CAPTURED TC ki in 1991 R 25.0130500 0 0005167 FRONTIER DEVELOPMENT CORP TIF U 025 CAPTURED X 95.5529 :; 110! 001 77/12 233 0 000 73,407 819,000 0 0 0 42,424 42,424 93,513 89.354 i - p, 1991 R 25.0130700 0 0005167 FRONTIER DEVELOPMENT CORP TIF # 025 CAPTURED % 95.5529 I�,I• 001 77/12 250 '0 000 "---- - 34022 - _ 0 0 0 0 150 - 190 55,188 52,734 08";,%11991 R 25.0130800 0 0004818 CHANHASSEN HRA TIF # 025 CAPTURED % 95.5529 ' ',.,� 001 77/12 204 0 000" - ' 124000 .,- 62.820 0 0 0 2,245 - 29245 0 0 C1991 R 25.0131000 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 - 001 77/12 958 0 -000 --- 4,920 - -144600 0 0 0 0 '0 0 0 ,11991 R 25.0131200 0 0005169 HOUSING E REDEVELOPMENT AUTH TIF # 025 CAPTURED X 95.5529 euRN,73 001 77/12 233 0 000 - - 2.800 28.475 0 0 0 1.001 19001 2,541 2.428 x4 1991 R 25.0131210 0 0005169 HOUSING C REDEVELOPMENT AUTH TIF # 025 CAPTURED % 95.5529 001 77/12 233 '0-000-- '-- ._-800 -- - ----- 0-- 0 0 0 26 ---- -- 26 . - 0 0 27, 1991 R 25.0131300 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 ,. 001 '77/12 957 0 000 - ... 54000 _._ 22"4000 0 0 0 0 D 0 0 '', ;,011991 R 25.0131400 0 0004818 CHANHASSEN HRA TIF # 025 CAPTURED % 95.5529 -001 77/12 -204 -0 000' ----- 14.1-00 -- -- 17,100' - -- 0 0 0 546 - 546 1.609 1,537 p, ,,1 002 77/12 233 0 000 1.500 18,360 0 0 0 636 636 2,723 2,602 TOTAL: 2.600 35.460 0 0 0 1.182 1.182 4,332 4.139 •, 1991 R 25.0131600 0 0005169 HOUSING E REDEVELOPMENT AUTH TIF # 025 CAPTURED % 95.5529 ,n 001 77/12 233 0 000 6,400 719300 0 0 0 2,486 2,486 6.081 5.811 ,;, 1991 R 25.0131700 0 0001328 MINISTERS LIFE C CASUALTY TIF # 025 CAPTURED % 95.5529 j,, 001 77/12 243 0 000 5,575 0 0 0 0 276 276 229386 21.390 '''�„ 1991 R 25.0132000 0 0005183 AMOCO AMERICAN OIL CO TIF # 025 CAPTURED % 95.5529 14., 001 77/12 233 0 000 9.900 30.400 0 0 0 1,290 1,290 10.620 109148 47 4, 1991 R 25.0132100 0 0001328 MINISTERS LIFE C CASUALTY TIF V 0 '5 CAPTURED % 95.5529 -. 001 77/12 243 0 000 1.875 0 0 0 0 93 93 1,574 1.504 f ,;11991 R 25.0132200 ' 0 0005185 APPLE VALLEY RED-E--MIX INC TIF # 025 CAPTURED % 95.5529 •''�4P1 001 77/12 233 0 000 11.040 5,900 0 0 0 542 542 6.873 6.567 n • 0 0003674 LOTUS REALTY SERVICES INC. TIF # 025 CAPTURED % 95.5529 i1991 R 25.0132300 '«„ 001 77/12 244 0 000 3,179 0 0 0 0 157 157 2.584 2.469 , 1991 R 25.0132400 0 0003674 LOTUS REALTY SERVICES INC. TIF U 025 CAPTURED 9: 95.5529 40-A 001 77/12 243 0 000 100 0 0 0 0 5 5 6,440 6.154 R 25.0132500 0 0015431 CHANHASSEN DOWNTOWN DEVELOP TIF U 025 CAPTURED % 95.5529 ,w ,,! 1991 001 77/12 2 d 233 0 000 3,875 0 ;.I 0 0 0 124 124 4,029 39850 j • IMO NM No am mos Ns IN am ismi am am alm am am r Ns Ns um mue ,.1 _ -111111111-111111111M T.qtr-_ -._ - -1111111 r-MIN rr --EMU ( ;BRC TAX SYSTEM CARVER COUNTY 010k04/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 8 +:TIF DISTRICT 025 CHANHASSEN TIF #1 'in• YEAR R PARCEL NAME BASE BASE CURRENT , RC YR/MO CLSF H PCT LAND BLDG SITE HG MACH TC GROSS TC NET NET TC CAPTURED TC 11;,. 1991 R 25.0132700 0 0005190 GERLAD W G L SCHLENK TIF # 025 CAPTURED % 95.5529 1, ' ,,; 001 77/12 201 1 000 10.000 15.130 0 0 0 545 251 686 655 '1,; 1991 R 25.0132800 0 0005191 MARTIN 6 M SCHLENK TIF # 025 CAPTURED % 95.5529 �, � 001 77/12 201 1 000 1,300 - 13.700 0 0 0 326 _- 150 726 694 *,. 1991 R 25.0133200 0 0005195 GUY S PETERSEN TIF # 025 CAPTURED % 95.5529 001 77/12 233 0 000' 69750 11.500 0 0 0 584 584 4.898 4.680 ',,,, 1991 R 25.0133300 0 0009501 MICHAEL J SORENSEN TIF # 025 CAPTURED % 95.5529 I.1 001 77/12 201 1 000 - - 7.200 - -17,980 0 0 0 546 - 252 15.961 15.251 '1„:1991 R 25.0134500 0 0005208 M J WARD TIF # 025 CAPTURED % 95.5529 1,d 001 77/12 101 1 000 " 629500 -._ 1.144 0 0 0 1.114 286 5.163 4.933 1„ ':,.,11991 R 25.0136500 0 0005456 CHURCH OF ST HUBERT TIF # 025 CAPTURED % 95.5529 001 77/12 911 0 000 575 0 0 0 0" 0 0' 0 0 0 I 002 77/12 915 0 000 1,000 14,900 0 0 0 0 0 0 0 ,'j',1 003 77/12 917 0 000 950 8.000 0 0 0 0 0 0 0 j .,1 TOTAL: " 2.525 _,-__._----22,900-"" 0 0 0 0 -. 0 -- 0 - 0 I ' „',,,.1991 R 25.0136510 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 l',1 001 001 77/12- 957-0- 000- - ---- -- -50 - - --- -- -- -0 0 --0 - 0 p -- .-._...__0 0 0 ' :1991 R 25.0136600 * 0 0004818 CHANHASSEN HRA TIF # 025 CAPTURED % 95.5529 001 77/12 900 0 000 0 0 0 0 0 0 0 757 723 '1, 1991 R 25.0140100 0 0005167 FRONTIER DEVELOPMENT CORP TIF # 025 CAPTURED % 95.5529 i 001 77/12 - 250 0 000-_ - "" 30940---°--_.--' 0 - 0 0 0 195 --_ ` - 195 -- 250042 23,928 ._ 4k ,H1991 R 25.1190010 0 0059315 C H SUITES OF CHANHASSEN TIF it 025 CAPTURED X 95.5529 1 001 77/12 251 0 000 35,340 _. 0 0 0 0 1.749 1,749 3.653 3.491 l J 41/ J1991 R 25.1190020 0 0059314 BLOOMBERG COMPANIES INC TIF # 025 CAPTURED % 95.5529 p 001 77/12 233 0"000 "- - 33,520 300.300 0 0 0 14.774"- 14.774 4,430 4.233 � i^,l1991 R 25.1190030 0 0059315 C H SUITES OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 L, 001 77/12 958 0 000 18.200 -. 0 0 0 0 0 0 5 5 +:rj1991 R 25.1190040 0 0059315 C H SUITES OF CHANHASSEN TIF # 025 CAPTURED ,% 95.5529 ,j 001 77/12 958 0 000 100 0 0 0 0 0 0 5 5 SCI ' +i1991 R 25.1190050 0 0059314 BLOOMBERG COMPANIES INC TIF # 025 CAPTURED % 95.5529 H' 001 77/12 958 0 000 100 0 0 0 0 0 0 5 5 7I r 4C1991 R 25.1190060 0 0059314 BLOOMBERG COMPANIES INC TIF # 025 CAPTURED % 95.5529 11. II 001 77/12 251 0 000 250140 0 0 0 0 1.244 1.244 2,599 2.483 -_.. __-------i_ ___._______. _ • • ■ ESRC TAX SYSTEM CARVER COUNTY f •2104/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 9 �a TIF DISTRICT 025 CHANHASSEN TIF #1s , **************************************************** - � 6 YEAR R PARCEL NAME BASE BASE CURRENT , .. RC YR/MO CLSF H PCT' LAND- _-- BLDG - SITE HG MACH TC GROSS - TC NET -- - - NET IC CAPTURED TC ,`911991 R 25.1190070 0 0059314 BLOOMBERG COMPANIES INC TIF # 025 CAPTURED % 95.5529 ,a " 001 77/12 900 0 000' -'' ' '" 0 0 0 0 0 0 - 0 84 80 ''- , ; 1991 R 25.1490010 0 0005613 B C BURDICK TIF It 025 CAPTURED % 95.5529 ' - 001- 77/12' 101 -0 000`"'-- '-- ------ '-795 0 0 0 -0 - 18 - -- - - 13 - 446 426 - 4014 , ∎,< 1991 R 25.1490020 0 0005613 B C BURDICK TIF At 025 CAPTURED % 95.5529 , 2 001 77/12 101 0 000- -" _-I:'1598"-' " - -"- 0- 0 0 - 0 38 - ---- 27 - 589 563 2 .1g1991 R 25.1490030 0 0005613 B C BURDICK TIF # 025 CAPTURED % 95.5529 2 ,H 001 77/1-2 101-0 000 - ------2#197 -- -------7#000-- - - ,- 0 - 0 - - -- 0 207 -------' ---}47 - - 733-- -- 700 - - -- I v l , 2, 1991 R 25.1490040 0 0005613 B C BURDICK TIF # 025 CAPTURED % 95.5529 si -. 001 77/12 101 0 000..-_ .`-"'..24797---._..__.7i700" 0 0 0 236 _ 168 926 885 ill 2, I, z. 1991 R 25.1490050 0 0005613 B C BURDICK TIF # 025 CAPTURED % 95.5529 = 26.__---001- 77/12 -- 101 -0 -OOU.�.-._.3'#4 997-.__. __-.-- 0-- --- - -- p - - 0 - -- p - 90----- ----..._. .--'64 -- 1.802- - 1:122 -- ----- `. ;'271991 R 25.1500010 0 0005613 B C BURDICK TIF # 025 CAPTURED % 95.5529 ze_..__.'001-77/12... 250 0''000-"' -,_._..... 14475---- '---- ---- 0 0 0 - 0 73 -- - - 73-73- 34747 3:576-. ._._..._ :•2V ,,, 1991 R 25.1500020 0 0005613 B C BURDICK TIF # 025 CAPTURED % 95.5529 '' ., -001- 77/1-2-'---250-.-0--000----------}-,4.75`----------0----- --- -- 0 0 0 73- --- 73. 3#391 3.240 - el -, 1991 R 25.1500030 0 0005613 B C BURDICK TIF # 025 CAPTURED X 95.5529 In „ 001 77/12 250 0 '000.'_- - .144..75.:_._.- - _._ 0- 0 0 '-0 73-- -. ._. .- 73 3.153 3.013 -I: .311991 R 25.1500040 0 0005613 B C BURDICK TIF # 025 CAPTURED X 95.5529 -001---77/12---250. 0-000----- ._-_-1,#-50--- -- .-0._--- _ -. .- 0 _ --_ 0 0 - - - 72-- ---------72 -- 1:906 19821 ------ a 0: 1991 R 25.1500050 0 0005613 B C BURDICK TIF # 025 CAPTURED % 95.5529 ,.1,,, ._..-001 77/It 250.-0 '000"-. '-"-1:525 0 __. 0 0 0 75 75 2:955 2:824 I3 n, 471991 R 25.1500060 0 0005613 B C BURDICK TIF # 025 CAPTURED $ 95.5529 ti as ----001-7-7/12- 250 0 '000--..--------1#325---------- .0 --...--- - .__ 0 - - 0 - --0 --- 66 - - -- --66- 1:812 1:731 an e .441991 R 25.1500070 0 0005619 DOUGLAS M HANSEN ET AL TIF # 025 CAPTURED % 95.5529 S f nG 001' '77112 250 "0 000` _"` "---2/765--' 0 0 0 0 137 - 137 24x005 229937 1 47 5 a„ 1991 R 25.1500080 0 0005613 B C BURDICK TIF # 025 CAPTURED °X. 95.5529 rR au------001 -77/12- 250._.0-000.-._.-__- 14450--- --------- --0- - 0 0 0 72 - '-" - 72 5:376 5,137 __ - -6, 90 -+- In ▪Wy, 1991 R 25.1500090 0 0005613 8 C BURDICK TIF # 025 CAPTURED % 95.5529 8 I,, • +2 " 00I 77/12' 250 0 000 -- _ - --1'4450- -_ -' - 0 0 0 0 72 -. 72 49326 4,134 ,,, 7, 3 x,, 1991 R 25.1720010 0 0001274 CHANHASSEN RETAIL LTD PRTSHP TIF # 025 CAPTURED % 95.5529 7 7. ' -001 77/12 233 0 000 9:335 -. 19:800 -- 0 0 0 932 932 439929 41.975 --- --, ,r. I7' dik Ir all all la - r - all r r all a - r it r - A all '' is am r we r - . - as s r as on as r r - am ma iii w lb !BRC TAX SYSTEM CARVER COUNTY al:104/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 10 ,:TIF DISTRICT 025 CHANHASSEN TIF 01 '♦ AYEAR R PARCEL NAME BASE BASE CURRENT i RC YR/MO CLSF H PCT - LAND BLDG SITE HG MACH TC GROSS_.. • TC NET NET TC CAPTURED TC , x'n 1991 R 25.1720020 0 0019558 THOMAS J E MARY LOU KRUEGER TIF # 025 - CAPTURED % 95.5529 001 77/12 233 0 000 1.535 57.500 0 0 0 1.889 1.889 11.768 11.245 , .:,-`1991 R 25.1720030 0 0004853 CITY OF CHANHASSEN - TIF # 025 CAPTURED % 95.5529 ' ,i,.' - 001 77/12 958 0 000 1.920 -- - -- 0 0 0 0- 0 - -- -. •0 0 0 ': 1991 R 25.1730010 0 0058382 CHANHASSEN REALTY CO TIF # 025 CAPTURED % 95.5529 1,1' 001 77/12 233 0 000 " "15.600 96,000 0 0 0 3.774 3:774 20.020 19.130 "„ InI1991 R 25.1730020 0 0004818 CHANHASSEN HRA TIF # 025 CAPTURED X 95.5529 ,:; 001 77/12 958 0 000 - - ---"6.800 30,200- 0 0 0 - _. '0 - - 0 -- 0 0 - _ +x,11991 R 25.1730030 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 11 001 77/12 958 0-000" 3000°..-__._ 0. 0 0 0 0 _ 0 0 0 "1. 11991 R 25.1730040 0 0004818 CHANHASSEN HRA TIF # 025 CAPTURED % 95.5529 • Hi I 001 77/12 958 0 000--- -- 5300 ---------- Q 0 0 0 Q° Q-._ 0 0 •', (1991 R 25.1890010 0 0058856 ROSEMOUNT INC TIF # 025 CAPTURED % 95.5529 izE:i 001-77/12 251 0 000 ---67,900" `__._.._.._'.. 0 0 0 0 3.361 - 3.1361-31361-- 789,260 754,161 -- - i �1..i1991 R 25.1890050 0 0006014 ALSCOR INVEST JT VENTURE #2 TIF # 025 CAPTURED X 95.5529 „i 001 77/12- 10/-0 -000,--- ----30S00---- -- 0 0 0 0 81 --------- ------5g" - - 2.762 2.639---------- +.„41991 R 25.1890060 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 1,.,' 001 77/12 958 0`000-" - - 2:300..._.._._.__._._. 0. 0 0 -- 0 _. 0 0 0 0 .. - I;: *,.;1991 R 25.1900010 0 0006013 DAVID W BROCKPAHLER TIF # 025 CAPTURED % 95.5529 1,71 001 78/12- 101- 0 000--------Iowa 0 - - 0 0 -- - 0 -- 41---- - - ---29 - - 22,891- 21073 -- ---. +;,,.'1991 R 25.1900110 0 0015588 PRN MUSIC CORPORATION TIF # 025 CAPTURED % 95.5529 '' 001 78/12 101 0 000 - _. 7.200 - - - 0 0 0 0 162 -- 115 244.359 233,492 • 4.:1991 R 25.1900170 0 0011661 CHANHASSEN PARK PLACE PRTNRS TIF # 025 CAPTURED % 95.5529 .3 - 001"-78/12 101 0-00ff-----"--24700- "- ---- 0 0 0 0-• ._- - 61 - -" -- 43 40.221 38.432 ---- 4I 1991 R 25.1900180 0 0011668 STEVEN C WILLETTE TIF # 025 CAPTURED % 95.5529 I' 001 78/12 101 0 000 -- -2',700 0 0 0 -0 51 - _. - _.. 43 13,892 13.274 _. �I�n1991 R 25.1900190 0 0019111 MIW-GL PARTNERS TIF # 025 CAPTURED % 95.5529 .,vi 001 78/12 101 0 000 0 0 0 0 41 29 65,206 62.306 „I1991 R 25 .1900200 0 0019111 MIW-GL PARTNERS TIF # 025 CAPTURED 95.5529 -,:I 001 78/12 101 0 000 1.800 0 0 0 0 41 29 65.206 62.306 0111q1991 R 25.1900210 0 0012750 UNITED MAILING INC TIF # 025 CAPTURED % 95.5529 ; - 1 001 78/12 101 0 000 1.800 0 0 0 0 41 29 5,693 5.440 I• ti,.., .1 • 1 ` BRC TAX SYSTEM CARVER COUNTY *204/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 11 ,2 TIF DISTRICT 025 CHANHASSEN TIF #1 1 **************************************************** *a YEAR R PARCEL NAME BASE BASE CURRENT 1,1 RC YR/MO CLSF H PCT- - LAND BLDG SITE HG MACH TC GROSS IC NET NET IC CAPTURED TC - ; ,11 "+1991 R 25.1900220 0 0012750 UNITED MAILING INC TIF # 025 CAPTURED X 95.5529 { 001 78/12 101 0 000 1.800- 0 0 0 0 41 - 29- 4,287 4,096 ; ;. 1991 R 25.1900230 0 0019111 MIN-GL PARTNERS TIF # 025 CAPTURED % 95.5529 ' 1,1 001 78/12 .. 101 --0 -000-...-.. - - - 520 - 0' 0 0 0 12 - - ----8 644 615 --i, 5;1991 R 25.1900231 0 0012750 UNITED MAILING INC TIF # 025 CAPTURED % 95.5529 ' DOI 78/12 101 0 000 ' 14280- - - 0' 0 0 0 29 20 2:921 2,791 „• 1991 R 25.1900240 0 0018794 MIW-GL PARTNERS TIF # 025 CAPTURED % 95.5529 ' k„,, 001 78/12 101 0 000 -------13800- - - .-- 0 0 - 0 0 41 - .- - 29 49,492- 47;291 -- - t11991 R 25.1900250 0 0018794 MIN.-GL PARTNERS TIF # 025 CAPTURED % 95.5529 - 2, 001 78/12- - 101 0 000 0 0 0 0 41 SI9 52;074 - 49.758 11J 1991 R 25.1900260 0 0058811 RAY E JOHNSON TIF # 025 CAPTURED % 95.5529 3 „ - 001 78/12 --10t .0--000------•-------iia00------ ----- .0 - _ - 0 0 0 - - 41- -- -- -- 29 15,263 14;584 -.-- "--, , ,., 1991 R 25.1900270 0 0006039 RUSSELL C BARBARA MURPHY TIF # 025 CAPTURED % 95.5529 I,+„ 001 78/12--` 101" 0 000.-. .-"- .1,800. - .. _ 0 0 0 0 - '41- .- .-29 17,679 - 16,893. .-. ._ ".-3 ,, 1991 R 25.1900280 0 0007988 FLUOROWARE INC TIF # 025 CAPTURED % 95.5529 3 ---001 -98112 --101---0-000-------1-j800-----_. .0-- 0 0 0 41 --- - 24 32,061 - 30,635----- - --I" ,, 1991 R 25•1900290 ‘ 0 0007988 FLUOROWARE INC TIF # 025 CAPTURED % 95.5529 , i ,, 001 78/12' 101 0 000 -- -- `° 1-:800-'- ' - 0 0 0 0 41 - .-. - 29 37,679 36,003 ,,,, 1991 R 25.1900300 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 I, 001 78/12-956- 0-000 --1,800 -- - 0' 0 0 0 - fl --- ----- -0 --- -- 0 • 0. ----- 1,,, 1991 R 25.1900310 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 '1 " 001 78/12- 956 0 000 '°- -" 1,800."...`.----.._ 0 0 0 0 0 - 0 -- 40„ 1991 R 25.1900320 0 0004853 CITY OF CHANHASSEN TIF # 025 • CAPTURED % 95.5529 1-, ,,., 001-78/12 -958 -0 000--------- 500------ -_. - 0--- - -- 0 0 -0 - 0 --- - 0 0 0 - - - 5, ,�,.� 1991 R 25.1900330 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED Y. 95.5529 "' ,� 001 78/12 958 0 000 "500 0 0 0 0 0 0 0 0 1" �� 47 " ,,,, 1991 R 25.1900340 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 �. I .' 001 78/12 958 0' '000 1;800 0 0 0 0 0 0 0 0 1 S. 1991 R 25.1900350 0 0058719 REDMOND PRODUCTS INC TIF # 025 CAPTURED % 95.5529 ;"' ,21- 001 78/12 101 0 000' 39;600. 0 0 0 0 891 634 64,632 61,758 ir,, X1,, 1991 R 25.1900360 r 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 71 001 78/12 958 0 000 9,000 0 0 0 0 0 0 0 Cl - - -, NM NM r war In I r r OR r - all OM = r - I N MIIII 1 Li 5! conc. SYSTEM 2 04/02/91 11:24:58 TIF PARCEL MODELER TA926L COUNTY PAGE 12 12 .,!TIF -DISTRICT - 025 CHANHASSEN TIF #I I, � ,`**************************************************** RIYEAR R PARCEL NAME BASE BASE CURRENT e IA 71 RC YR/MO "CLSF H PCT -- -.- LAND- - BLDG' SITE HG MACH TC GROSS - -. TC NET NET TC CAPTURED TC "-• A X. 1991 R 25.1900370 0 0012313 EDWARD A PAULS TIF # 025 CAPTURED % 95.5529 „o 1,0 -- 001 78/12 101 0 000 9,000 0 0 0 0 203 144 14,256 13,622 i,` �! :�1991 R 25.1900380 0 0014524 CARVER COUNTY TIF # 025 CAPTURED % 95.5529 1, 001- 78/12 900-0 GOO--------- .-500" ---. --- 0 -0- 0 0 0 0 0 0 --- - I„ .1 i ,.11991 R 25.1900420 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 I'n 001 78/12 958 0" 000 5,000 - 0 0 0 0 0 -0 0 0 I; i� 1' Air R 25.1910030 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 t•,I ' 001-78/12- 958 0100V---..-.-10-000 ----------- -. 0 - : a 0 0 0 0 0 0- - -- 11, 1991 R 25.1910040 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 12 u 001 78/12 958 0 000 9,000 '" -. 0 0 0 0 0 0 0 0 lr �; , .11991 R 25.1920010 0 0005542 JERALD E ELAINE C GENS TIE # 025 CAPTURED % 95.5529 2^ 001 78/12 - 101 -0--000-----_--.6.:850- --- ---.— 0 0 0 0 0 154- - - ---- 110 33,984 32,473-- '- ,�I j 3 ''`;,11991 R 25.1920020 0 0018270 QUAD STAR PROPERTIES TIF # 025 CAPTURED % 95.5529 1. I�, 001 78/12 101 0 000 "` 7,620`"" -" 0 0 0 0 171 - - 122 31,153 29,768 -- - , '14',01991 R 25.1930030 0 0059723 ROMAN R ROOS C/O ROME CORP. TIF # 025 CAPTURED % 95.5529 „ 001-77/12--101---p-GOT--------2 400-------- 0----- --" --- 0 0 - - 0 ---- - 34- -- -----._3-8- - --- --8,192 _._ 7,828-___._. .-_. ., ,11991 R 25.1930040 0 0058470 ALFRED A C ROSEMARY C IVERSEN TIF # 025 CAPTURED % 95.5529 '"- ',.' 001 77/12 101 0 000 - -- 3,300"•' -- --._._._ -0 -- 0 0 0 74 53 11,202 109704 ""�, !A. ‘wri1991 R 25.1930050 0 0006014 ALSCOR INVEST JT VENTURE #2 TIF # 025 CAPTURED % 95.5529 la H001- 77/12 101-._.0._.000.----- /000-------- 0- -.. .. 0 - - p - 0 - ---- 41 - --- -29 " - -9,633 9,205 --- ----- 1,. 13•,11991 R 25.193d060 0 0006014 ALSCOR INVEST JT VENTURE #2 TIF # 025 CAPTURED 9: 95.5529 �, 001 77/12 101 0 000 2,700---- .. 0 0 0 0 61 - 43 11,405 10,898 , '11991 R 25.1930070 0 0018794 MIW-GL PARTNERS TIF # 025 CAPTURED % 95.5529 R, I�2,l -001 77/12. -.101 -0-000--..--°-___.-1,800 -,.- ---- - 0-- -- 0 0 0 41 29- - 757 723 --- � 1991 R 25.1930080 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 ,0- .,,. " -001-77/12 958 0 000....°_. ,` - 1,800- 0 0 0 0 - 0 -" 0 0 0 ,,1991 R 25.1940010 0 0058718 ROBERTS AUTOMATIC PRODUCTS INC TIF # 025 CAPTURED % 95.5529 i^; 1111 n, 001 77/12 101 0 000" - - 6,700-.-"" 0 0 0 0 151 107 5,247 5,014 ',, 1991 R 25.1950010 0 0005169 HOUSING E REDEVELOPMENT AUTH TIF # 025 CAPTURED % 95.5529 !1 001 77/12 958 0 000 -- °- 100 - 0 0 0 0 0 0 0 0 7( '':41991 R 25.1950020 0 0004043 JOHN H DOREK ET AL' TIF # 025 CAPTURED X 95.5529 7, 001 77/12 233 0 000 62.300 _ 508,000 0 0 0 26,480 26,480 81,593 77,964 - l' V. •_i 1, 1 104 IBRC TAX SYSTEM CARVER COUNTY ,• 104/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 13 11 1 , TIF DISTRICT 025 CHANHASSEN TIF 01 7,n YEAR R PARCEL NAME BASE BASE CURRENT RC YR/MO CLSF H PCT - LAND BLDG SITE HG MACH TC GROSS TC NET NET TC CAPTURED TC W-11991 R 25.1950021 0 0017881 JOHN DOREK ETAL TIF # 025 CAPTURED % 95.5529 001 77/12 243--0000 82.800 0 0 0 0 4.099 44099 6,811 6.508 p ! 1991 R 25.1950030 0 0005123'BLOOMBERG COMPANIES INC TIF # 025 CAPTURED % 95.5529 1,,1 001 77/12 243 0 000 1174600--- 2654500 0 0 0 18.963 -18.963 18.221 17,411 1991 R 25.1950050 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 1,,I 001 77/12 900 0 000 ._ _ 6.270- 0 0 0 0 0 " 0 0 0 . 1 +• 1991 R 25.2530010 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 1, ,', 001 77/12 - 958- 0 000 154-760' " - 0 0 0 0 0'- -_- - 0 0 0 , 1991 R 25.2530020 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 2 001 77/12 958 0 000 ' " " 18,188" Cr 0 0 0 0 - 0 0 0 1 741991 R 25.2530030 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 (•■ 001 77/12 958 0 000--------"341030 - 0 - 0 0 0 0-_-. - __ 0 - - 0 0 ^ ..▪ 1991 R 25.2530040 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 ' 001 77/12 958 0`000 ' -- "10 4'410- 0 0 0 - 0 0 0- 0 0 ,01991 R 25.2530050 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 • „j199O0R 25/2530060 0 000 - 0 ^0 _�0004853 CITY OFOCHANHASSEN 0 OTIF # 025 0 CAPTURED x 0 95.5529 i , 101 77/12 900 0 000 " '" 0 0 0 0 0 0 0 0 0 i 0 1991 R 25.2710010 0 0019690 COUNTY 17 CHANHASSEN TIF # 025 CAPTURED % 95.5529 I,n 001 77/12- 101-"0- 000-- '- 14-.800---- ----- 0-- 0 0 0 - - 333 ."__.._. -- 217- -- 194,545 185.893 441,..11991 R 25.2750010 0 0006525 LANDCO TIF # 025 CAPTURED % 95.5529 001 77/12 250 0 `000 5';'100- 0 0 0 0 252 252 20,787 19,863 " 0.1 . . 1991 R 25.2750020 0 0006525 LANOCO TIF # 025 CAPTURED % 95.5529 r,- 001 77/12 250 0-000'-_---- -6i-160 -- 0 _. -0 0 0 - 305 --- _.305 23.884 22,822 - 7, 1991 R 25.2750080 0 0005734 DONALD F MCCARVILLE TIF # 025 CAPTURED % 95.5529 1,. 001 77/12 250 0 000 - - 5,870 0 0 0 0 291 291 4.534 4.332 . - ,1 1991 R 25.2770010 0 0000931 WATERFRONT ASSOCIATES TIF # 025 CAPTURED % 95.5529 001 77/12 250 0 000 ". 7,400 0 0 0 0 366 - - 366 13.857 13.241 „11991 R 25.2770020 0 0006534 RALPH G MOLNAU E TIF # 025 CAPTURED % 95.5529 ' 1..i 001 77/12 233 0 000 9,200 105.400 0 0 0 3.923 3,923 13.768 13.156 0; 1991 R 25.3150010 0 0020115 HERITAGE PARK APARTMENTS TIF # 025 CAPTURED % 95.5529 ; 1_. 001 77/12 250 0 000 32,195 0 0 0 0 1,594 1094 221867 21.850 41.1.1 as - am no as so ON MN so r r ma r am Ns am mu no no • 6( ow or am me MIN Milli ON IIIII an MI MN an --M-111111-1111.-111111-iii--U i , l ii j IBRC TAX SYSTEM CARVER COUNTY _. F, ''7 04/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 14 i • '3 2 1 3 L„ITIF DISTRICT 025 CHANHASSEN TIF 01 1" I , ****************************************************t �, , YEAR R PARCEL NAME BASE BASE CURRENT , ,, RC YR/MO CLSF H PCT LAND BLDG-- - SITE HG MACH TC GROSS TC NET NET IC CAPTURED TC - _.._ 1; a 1991 R 25.3500320 0 0006728 DONALD F MCCARVILLE TIF # 025 CAPTURED X 95.5529 ' 001 77/12 233 0 000 7,500 19,560 0 0 0 866 866 2,480 2x370 0;',1 , . 1991 R 25.3500380 0 0005003 PHILIP 6 NANCY HILLMAN TIF # 025 CAPTURED % 95.5529 + M,I 001 77/12 205 0 000' -- 9,900 - 97,130 0 0 0 3,853 ._ --- 3'853 104872 10,389 -. +"I �:1• 1991 R 25.5650070 0 0058618 E JEROME CARLSON E TIF # 025 CAPTURED % 95.5529 I' 001 77/12 101 1' 000 ,3 600 0 0 0 0 110 28 181,400 173,333 1, 1 , .7 2 ��,1,I1991 R 25.5650080 0 0003275 E JEROME CARLSON TIF # 025 CAPTURED % 95.5529 001 -77/12 - 101 i 000--_.--- "11,950 - 29,500 ' 7,100 29,500 0 879 _ -- -- 388 388 238,325 227,726 ---I2 X211991 R 25.5650090 0• 0003275 E JEROME CARLSON TIF # 025 CAPTURED % 95.5529 12 1 001 77/12 101 1-000 °""" - - IOW). -. - ._. 0 0 0 0 32 -- - '8 5,475 5,232 - •I." 1991 R 25.5660010 0 0019534 FRANK BEDDOR III ETAL TIF # 025 CAPTURED % 95.5529 J 2 _ - 001 77/12" 101- 1 -000 ----_. --94600- -------- 0 -_ _, - 0 0 - 0 168 - -43-#3 , 201'735 192.764- -- - -.1 .71991 R 25.6420010 0 0008783 ALFRED A E ROSEMARY IVERSEN TIF # 025 CAPTURED % 95.5529 17e 001 77/12 -101 0 000 24600- - - D 0 0 - 0 54 - 38 44.092 42,131 )'J 411/;:1991 R 25.6920010 0 0005189 CHAN HOUSING E REDEVELOPMENT TIF # 025 CAPTURED % 95.5529 . 1"•FIJI 001-78/12- 958-0-0 Qp-_ _ 440 p . _ 0 0 - 0 „1991 R 25.6920020 0 0006633 GARY L BROWN TIF # 025 CAPTURED % 95.5529 001 78/12 ._ 250 0 000 - " ,985 0 0 0 0 98 98 1,699 1.623 a 1991 R 25.7510010 0 0019379 METRO LAKES WEST MINI-STRGE TIF # 025 CAPTURED x 95.5529 - '001 -77/12 ---101 0 X00--.----' "433--- _. ------ 0 -,_-- 0 0 - 0 10 --- - _. -7 - 2'103 2i009 A 002 77/12 101 0 000 5,525 0 0 0 0 124 88 51,705 49,406 s �,". TOTAL: 5,958 0 0 0 0 134 95 53,808 51,415 R 40 1.5 0"11991 R 25.7510020 0 0019497 WAYZATA GENERAL INVESTMENT TIF # 025 CAPTURED % 95.5529 42 001 77/12 101 0 000 2,817 0 0 0 0 63 45 17,961 17,162 "11991 R 25.7510030 0 0003399 ROMAN R ROOS TIF 4 025 CAPTURED % 95.5529 i° ' a 001 77/12 101 0 000 2x059 0 0 0 0 46 33 19,114 18,264 �{" 41/4,▪ 1991 R 25.7750010 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED y 95.5529 001 77/12 957 0 000 2,385 0 0 0 0 0 0 0 0 l' 411,01991 R 25.7750020 0 0004853 CITY OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 1r 001 77/12 957 0 000 2,275 0 0 0 0 0 0 0 0 I,`', 11• 1991 R 25.7750030 0 0009650 MITHUN ENTERPRISES INC TIF 4 025 CAPTURED . 95.5529 7' Ra 001 77/12 250 0 000 2,385 0 0 0 0 118 118 5,000 4.778 ' � 7 .11991 R 25.7750040 0 0007456 STATE BANK OF CHANHASSEN TIF 4 025 CAPTURED %. 95.5529 !'V 411 • 11 001 77/12 250 0 000 2,385 0 0 0 0 118 118 4,579 4,375 1;: Ilk BRC TAX SYSTEM CARVER COUNTY - - "; 42104/02/91 11:24:58 TIF PARCEL MODELER TA926L PAGE 15 '1 1LTIF DISTRICT 025 CHANHASSEN TIF #1 161 YEAR R PARCEL NAME BASE BASE CURRENT , RC YR/MO CLSF H PCT - LAND -- BLDG SITE HG MACH IC GROSS -- TC NET NET TC CAPTURED TC 1991 R 25.7750050 0 0007456 STATE BANK OF CHANHASSEN TIF # 025 CAPTURED % 95.5529 001 77112 233 0 600 8,404 88.750 0 0 0 3.109 3.109 18.327 17,512 44J, It 1991 R 25.8780010 0 0018693 NEST VILLAGE TOWNHOUSE TIF # 025 CAPTURED X 95.5529 Mil 001 77/12 101 1 000'" 1,830 0 0 0 0 32 - -- 8 - - 45.464 43.442 p, 1991 R 25.8780020 0 0018693 WEST VILLAGE TOWNHOUSE TIE it 025 CAPTURED % 95.5529 HI 001 77/12 101 1 000 - - - 1.830 - -- - 0 0 0 0 32 " -. - 8 45.464 43.442 :0991 R 25.8780040 0 0058624 DEAN R JOHNSON CONSTRUCTION TIF # 025 CAPTURED % 95.5529 :9A 001 77/1Z- T01"-"T"-000 ` --'--12.059 ..- --- a -. 0 0 0 2I 1--- ---- - 54- - 1.072--- 1.024 ------- ''' c1991 R 25.8790010 0 0004767 RICHARD S BROSE ETAL TIF # 025 CAPTURED X 95.5529 1J.,. 001 77/12 101 1 000"--" ---2i109 -'-. ----- -" 0 0 0 0 37 - 9 3.010 2.876 21 24 1991 R 25.8790020 0004767 RICHARD S BROSE ETAL TIF # 025 CAPTURED X 95.5529 001 00/00 _000___ _________0_____0_, 0 0 0 0 0 - Q 3,010 2,876 .I• %, ^ 1991 R 25.8790030 0 0004767 RICHARD S BROSE ETAL TIF # 025 CAPTURED % 95.5529 '001 "77/12- 101 r 000""" "" 2,109'"""-"" `" 0"- ._. 0 0 0 37 9 3,010 2.876- -. - - - �+ zn - :A,,, 1991 R 25.8790040 0 0004767 RICHARD S BROSE ETAL TIF # 025 CAPTURED % 95.5529 " I. - 001 77/12- 101 1 -000------1.660----- -31,800----- - - 0 0 0 -- -- 619 --------154 _-- - 16.947 16,193 ----- - 46'21• 991,1 R 25.8790050 0 0004767 RICHARD S BROSE ETAL TIF # 025 CAPTURED % 95.5529 h001 77/12 101 1 000 -"--' '1.1-64- -- --" 0 0 0 0 55 14. 5,613 5,363 _.- S.: 1• 991 R 25.8790060 0 0004767 RICHARD S BROSE ETAL TIF # 025 CAPTURED % 95.5529 13, - 001 77/12 ._. 101--1-000---------- -----132 - -- 0- - 0 0 - -p 2 - 1 50 48 --- : 71991 R 25.8900010 0 0007788 HOLIDAY STATION STORES INC TIF # 025 CAPTURED % 95.5529 , 001 77/12 250 0 000' 3,660°` 0 0 0 0 280 - -"280 12,491 11,936 ` n, 1• 991 R 25.8900020 0 0007789 THADDEUS E KORZENOWSKI TIF # 025 CAPTURED % 95.5529 001 77/12 250- 0 000------`8+250-- ------ .-. " 0 --- 0 0 0 --- 408---- ----408 19.867 18.983 -,411 1991 R 25.8900030 0 0058752 CHANHASSEN INN TIF # 025 CAPTURED % 95.5529 001 77/12 250 0"000- -- - 89-870 - --. 0 0 0 0 439 439 53,195 50.829 '4. 1991 R 25.9990100 0 0013074 SOO LINE RAILROAD TIF # 025 CAPTURED % 95.5529 F, 49 001 77/12 245 -0-000 -- -23.0 700-- 0 0 0 0 1,173 - - 11 173 797 762 , 116 : 1991 R 25.9990200 0 0013074 SOO LINE RAILROAD TIF # 025 CAPTURED % 95.5529 2 001 77/12 245 0 000 - - 6,800 0 0 0 0 337 337 74 71 ill-, TOTAL: 1.309,770 3,096.589 7x100 29, 00 1,320 163.798 159,586 3,588.505 3,4289919 MA M 11111 111111 MI NS NM MI M. NI I ' NM 11111111 11111 MI MN •( - . In mg — an a a an —.—,----------------.-. .fit_ N 1\.iBRC TAX SYSTEM CARVER COUNTY ,104/02/91 11:24:58 TIF PARCEL MODELER - TA926L PAGE 16 L4'TIF DISTRICT 026 CHANHASSEN TIF #2 a YEAR R PARCEL NAME BASE BASE CURRENT RC YR/MO CLSF H PCT .. - - " LAND - - BLDG SITE HG MACH TC GROSS IC NET NET TC CAPTURED TC 61991 R 25.4520010 0 0011945 MCGLYNN BAKERIES INC TIF # 026 CAPTURED % 98.0687 001 88/12 101 0 000 132.000 0 0 0 0 4084 4.784 591.854 580.424 „„,.0, ,: 1991 R 25.4520020 0 0018786 SHAMROCK PROPERTY PARTNERS TIF # 026 CAPTURED X 98.0687 001 88/12' 101 -0 000 - -- 73.100 - - 0' 0 0 0 3.618 31618 19.706 19,325 - p•. ,4I ,-'1991 R 25.4520030 0 0018786 SHAMROCK PROPERTY PARTNERS TIF # 026 CAPTURED % 98.0687 .4 001 88/12 101 0 000.. 31.500 0 0 0 0 19559 1:559 8.494 8,330 u TOTAL: 2369600 0 0 0 0 9.961 9,961 620.054 610.093 ,•a IS-7, c ,"`23I 7.1 JG 1 q7 a 3n , I 4, — .21 44) r 4-, In 51 R3 i s4 7 N NM N NO s IN NW ON r NW - MN MN NW NM UN w M NW TAX INCREMENT DISTRICT NO. 3 MN NS NM NM Mk an 1 NM in NM I OR r 1 - I NM NE Exhibit 5.1 ECONOMIC DEVELOPMENT DISTRICT 113 Approved: 19-Feb-90 Del Rate: 37. FUND 468 Updated: 13-Sep-91 Int Rate: 67.. REVENUES, EXPENDITURES, TRANSFERS AND FUND BALANCE 11:03 AM MASTER CONTROL EXHIBIT 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 TOTAL BEG. BALANCE 801,047 164,262 242,893 599,925 867,110 878,779 845,965 769,879 703,283 621,850 459,161 REVENUE Ref Tax Incret 701,607 772,913 498,384 498,384 498,384 498,384 498,384 3,966,441 Minus Befit). (21,048) (23,187) (14,952) (14,952) (14,952) (14,952) (14,952) Bond Proceeds 939,088 939,088 Interest 2,590 50,714 1,146 22,094 47,617 54,125 52,277 47,968 44,182 39,542 37,311 399,567 Land Sale Other 134,988 134,988 436 436 Total Revenue 941,678 50,714 136,570 702,653 797,342 537,558 535,710 531,401 527,615 522,975 37,311 5,440,520 EXPENDITURES Ads. Costs 4 70,161 277,291 249,838 249,838 249,838 249,838 249,838 200,000 1,796,644 ImprovfConst 132,631 687,498 57,939 50,000 928,068 Accn't Payable 1,948 1,948 Paying Agent 8,000 8,000 Total Expense 140,631 687,498 57,939 120,161 277,291 249,838 249,838 249,838 249,838 249,838 200,000 2,734,660 TRANSFERS Bds 88,Ser 3 (fund 319) 225,461 132,675 152,375 194,675 233,725 221,025 232,313 1,392,249 Bds 91,Ser x (This Issue) 120,191 123,675 124,011 123,924 123,347 122,257 737,405 Total Transfers 225,461 252,866 276,050 318,686 357,649 344,372 354,570 2,129,654 ENDING BALANCE 801,047 164,262 242,893 599,925 867,110 878,779 845,965 769,879 703,283 621,850 459,161 459,161 I I N I LC) .1-1 •r-I I1 co v I .1 II - O v W ¢ �� -0 0 0 �- II .0 o •o CO u p 1- 11 M - Ii II •-• II , II II II P II 0- I1 P 11 1 I1 II 11 11 I1 11 I1 I-. I1 I1 2 I1 I1 W 11 CO II 1i CO O 0 P II O 11 1 - II . 0 0 1 11 J 11 11 I W 11 II CO Ca O D 11 ii N N I1 II 11 I1 11 11 II 11 II n 11 11 P 11 m 0 ID J II 0_ II CO 0 CO 11 1- 11 II 0- CO _P I- 11 II It N N U 11 II Q 11 11 11 II II I1 11 0 11 CO 0 CO II 0- I1 M 11 P.• I1 CO O CO D H 0 -• m m' O7 to m m m 11 CC W II •p Cr. M M M M M M CO 11 II II se 0 - • x 11 - N 07 m CO m CO CO CO II N N 1-- ¢ 11 0 1� 0- P 0- 0- 0- 0- 0- 11 d N II Q 11 ii U II II i1 II L-P- 11 11 II 0 O M II Cr- 11 m O CO II II W I I 0 0 0 0 0 0 0 0 0 Ii 0- 0 P J ti 0 0 0 0 0 0 0 0 0 0 W II 11-) If) I!-) N t!') 119 I!-7 If) L-I 1I N N o U 1.-• ii Ii W Q Q 11 • • • • • • • • • i1 2 2 2 It ti U Q 11 Ii I N U 11 [/'7 I1 11 W 0- 11 CO 0 M x it 2 Cr- Si CO 0 CO •0 11 M m m m O] 07 m m m CC Cr II W O_ 11 0- P 1� n I� 1'+ I� r=- 11 P 0 P CO O U I I O CO M M M M M M M ...• 11 0 O 0 Ii N N 1Y M- 11 CO N M M M M M M M Z 11 2 a x ii •-+ I- M M M M M M M W II _ ¢ Q II d t U II x m II i1 U) II W •O M 11 U'7 11 �I' 0- 11 m 0 CO CO M I1 W 0- I1 CO CO CO 1I O. D II II .O •o -O .o .O •O •O •o -o Z II P O P W d 11 0- P 0- 0- 0- P 0- P P 1- •T CO v U) ¢ 11 it II N N C U -II 0- 0- P 0- 0- P 0- Cr- 0- /Y 11 m 11 F- 11 11 11 II I1 11 -• 0- 0- P 0- 0- 0- 0- 0- y 2 11 1 N II P It r p P CO N 0 P N >- 11 I17 IP) M M M M M M M O •� i1 x 11 CO O M M M M M M M c 1i 1--- 0 n 0 h CC 11 U 11 0 N M M M M M M M I1 N N Q 11 I- C 11 11 O Q 11 1 Ii •-• 11 - U II If tl II 11 1I -.. -. _ II 0- 11 .p •p 11 L H 11 11 0- Q to 11 II .. _ 1 en W 11 II 0 0 O. _ O O 11 Si IL CO U J II Ii [1 Q 11 II i f 11 .M.. - W 11 II Z ii 11 11 O P II 11 II 0- 0 • M •.. 1 ) •O h m P 0- 11 11 m P P 0- P P P P 0- P P 11 a C 11 P P P 0- P P 0- P Cr- 0- O- a .... 11 IL 11 11 LLI II 11 Y 11 11 11 11 G 11 11 Si 1i >- II > •p 11 1r N r C 11 CI N • . r t17 11 C/) y > > 1I 1 II L O 1 I •CC 11 .-. yt d +, x 11 Ip - c) •- IA O� 7 J o- 1 W 11 C •O N L d Q 11 0 0 L L Ll I.- CL. • 11 M1 i C • y y p OI Z It I- a C G L +.. a C 1- 1n •••• 11 N 0 0 •O ...+ y v q = CO 1I d U U U O J M O 11 Q 11 1 1 MI 1 SE MN MN i 1 I 1 MI I 1 ! EN = NM 1 Exhibit 5.3 CITY OF CHANHASSEN - TAX INCREMENT 01ST 43 Approved: 16-Feb-89 DEBT SERVICE COSTS - TI BONDS OF 1988, SEA 3 Updated: 02-Oct-91 Tot Bonds Sold: $1,015,000 FUND 319 - MCGLYNN 07:50 AM Net Int: 6.67. 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 TOTAL BEG. FUND BAL 62,779 1,198 (82,174) 29,963 27,713 24,663 20,013 13,713 7,313 REVENUE/TRANS. • Bond Proceeds 62,555 62,555 Interest 224 2,764 (4,027) (1,039) Tax Increm (Trans) 225,461 132,675 152,375 194,675 233,725 221,025 232,313 1,392,249 TOTAL REVENUE 62,779 2,764 (4,027) 225,461 132,675 152,375 194,675 233,725 221,025 232,313 1,453,765 TOTAL ASSETS 62,779 65,543 (2,8291 143,288 162,638 180,088 219,338 253,738 234,738 239,625 EXPENDITURES Debt Pysts 5/1 - PRIN INT 32,173 32,173 31,663 29,963 27,713 24,663 20,013 13,713 7,313 219,383 11/1- PRIN 15,000 50,000 75,000 100,000 150,000 200,000 200,000 225,000 1,015,000 INT 32,173 32,173 31,663 29,963 27,713 24,663 20,013 13,713 7,313 219,383 Agent Fee TOT. EXP'S 64,345 79,345 113,325 134,925 155,425 199,325 240,025 227,425 239,625 1,453,765 ENDING BALANCE 62,779 1,198 (82,174) 29,963 27,713 24,663 20,013 13,713 7,313 (Interest Next) COST TO DEFEASE 1,031,859 1,014,426 961,966 884,759 182,420 630,040 427,817 226,061