Laserfiche WebLink
<br />Taxing Authority: may levy a tax at any annual rate not exceeding 0.04835% of market value . <br />of all taxable property situated within the Authority. <br /> <br />Regional Total Mkt. Total Mkt. Tax Capacity Levy 1998 Levy 1999 <br />Railroad Value 1998 Value 1999 <br />Authority (all property) (all property) 1998 (if used) (if used) <br />Anoka County $10.822,850,300 $11.530.061.800 $148,723,444 $5.232,848 $5.574,785 <br />Hennepin $60.550,869,269 Unavailable $1,137.524,374 $29,276,345 Unavailable <br />County <br />Sherburne $2,787,426,016 Unavailable $59,878,905 $1.347,720 Unavailable <br />County <br />St. Cloud / $4,313,729.100 Unavailable $70,580,272 $2.085,688 Unavailable <br />Stearns County <br />Local Funding <br /> <br />The Twin Cities' Metropolitan Commuter Rail Study recommends that the local government <br />share of initial capital expenditures focus on station-area enhancements, such as passenger <br />facilities and park-and-ride lots. Such projects would represent a relatively minor share of the <br />total initial capital requirements. The study allocates the responsibility for the majority of <br />ongoing operations and maintenance to local sources. II <br /> <br />. <br /> <br />INNOVATIVE FINANCING TECHNIQUES <br /> <br />The use of bonding authority to finance initial capital expenses over a long period supported <br />by tax proceeds or other revenue has been applied by many systems, including San Diego, <br />Washington, Dallas, and Seattle. The following discussion focuses on other techniques that <br />may be used to reduce ongoing financing costs or initial capital requirements. <br /> <br />State Infrastructure Banks <br /> <br />The Minnesota Transportation Revolving Loan Fund is authorized to make loans or to pledge <br />loan guarantees to various types of transportation projects throughout the state, including <br />transit projects. Loan guarantees allow entities to borrow on the capital markets at better <br />terms than they may be able to achieve on their own credit ratings. The State of Minnesota <br />enjoys a superior AAA Standard & Poor's credit rating. Loan guarantees, as provided by such <br />state infrastructure banks, allow other entities without histories of debt issues, such as the <br />Anoka County Regional Railroad Authority, to borrow on similarly favorable terms. <br />Sale-Leaseback Agreements <br /> <br />Because they do not pay taxes, public authorities are not able to take advantage of <br />depreciation allowances under federal tax laws. However, depreciation deductions are a . <br />substantial benefit to private firms with tax liabilities. Under a sale-leaseback agreement, a <br /> <br />Northstar Commuter Rail Feasibility Study <br />March 23, 1999 <br /> <br />9-8 <br />Financial Analysis <br />