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Capita/Improvement Planning -June 11, 2001 <br /> <br />Build second municipal liquor store. A site for this facility has been <br />acquired. The size and timing of the facility will be influenced by <br />legislative action to allow beer and wine sales at grocery stores and <br />the results of a market analysis. <br /> <br />Final timing to be determined, but construction anticipated in next <br />five years. A market analysis should be undertaken within two years. <br />To be determined. The cost will be influenced by design of the <br />facility, amount of equipment and initial stock, and timing of actual <br />improvements. <br />Liquor Fund and bonds. <br /> <br />Depending on timing, costs and operations, the Liquor Fund could <br />have enough reserves to finance the project with cash. The City can <br />issue liquor revenue bonds to finance all or a part of the project costs. <br /> <br />Any new debt should account for the outstanding debt (1997 Bonds) <br />supported by Liquor Fund revenues. The 1997 Bonds will mature on <br />2/1/07 and can be called at any time. $920,000 in principal remains <br />to be paid. Annual debt service is approximately $196,000. <br /> <br />Municipal Liquor Fund <br /> <br />Expenses <br />Operating Income <br /> <br />Adjustments <br />Noncapital activities <br />Capital acitivities <br />Interest <br /> <br />1997 1998 1999 2000 <br />675,454 691,512 826,546 941,722 <br />352,551 455,045 431,835 451,197 <br /> <br />322,903 236,467 394,711 490,525 <br /> <br />7,375 117,348 64,556 49,508 <br />(153,450) (131,651) (141,250) 78,600 <br />(362,997) (166,980) (151,623) (158,025) <br />33,615 24,625 20,699 75,439 <br /> <br />Net change in cash (152,554) 79,809 187,093 538,047 <br /> <br />Year end cash <br /> <br />603,904 691,795 878,888 1,416,935 <br /> <br /> <br />