5.2. SR 10-12-2009 - Laserfiche WebLink

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would like to reconstruct the fuel island, which would be done following the master planning process. This fund has also been paying the library debt issue and at the end of 2014 the amount outstanding of principal and interest is $3,077,317.50. The other two building projects to consider in the intermediate timeframe are the ice arena lobby/remodel project and Fire Station #3. The ice arena project is estimated at $2.5 million, our current bond issue will expire at the end of 2013 on the building. Fire Station #3 will be growth driven and will start showing up on the future CIP's. Park Dedication Fund (Exhibit C). The park dedication fund has seen a drop in revenues in recent years as the recording of new plats has slowed. This fund currently has three contract for deed obligations for land acquisitions. 1)Barsody property will be paid in full in 2010. 2)Mahnstrom property will be paid in full in 2011. 3)Pinewood golf course will be paid in full in 2013 with a balloon payment. With the fixed payments and the estimated revenues no projects have been programmed in the current CIP until the current obligations are met and revenues increase. Currently the park improvement fund has had the cash available at the end of the year to make an interfund loan, but sufficient cash may not be available and another source will be sought, possibly the NSP fund to temporarily loan funds to the park dedication fund. Park Improvement Fund (Exhibit D). The park improvement fund was created to provide a funding source for replacement and further build out of our current parks. The funding source is an annual transfer from the municipal liquor store based on a percentage of profits. The expenditures planned in 2010 are playground safety wood chips, replace worn picnic tables, and a well upgrade at kuss field. The subsequent years will be updated with the CIP based on available funding. NSP Fund (Exhibit E). The NSP fund receives revenues from the RDF plant. This fund has been used for building debt on the 1997 City hall refunding bonds which have been recently called and paid in full. In addition, this fund is making half of the Pinewood contract for deed payments. The fund balance is being held for the balloon payment on the Pinewood golf course in 2013. I have included three more years of payments. If park dedication revenues don't increase, this fund may have to make an internal loan to the park dedication fund- fox the other half of the Pinewood payment. Street Improvement Reserve Fund (Exhibit F). This fund covers annual improvements on roads in the City. Special assessment repayments axe the main funding source in the fund. Public Works Director Terry Maurer will have a presentation on the proposed projects for the current CIP. Municipal State Aid (MSA) funds have been recently committed to the 193`d project and repayment of the related transportation loan. For 2010, all the MSA will be dedicated to the 193` project and loan repayment. Beyond 2010, the 193`d transportation loan payment will be about $500,000 each year leaving approximately another $500,000 for projects. The transportation loan will be repaid in 2013.