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Alk River <br />Municipal Utilities <br /> <br />322 King Avenue <br />Elk River, MN 55330 <br /> <br />August 21,2001 <br /> <br />phone: 763.441.2020 <br />Fax: 763.441.8099 <br /> <br />To: Mayor & City Council <br /> <br />From: Bryan Adams <br /> <br />Subject: G.O. Water Revenue Bonds Series 2001A <br /> <br /> As Elk River continues to grow and expand, the municipal water needs of our community <br />continue to increase as well. This growth and expansion requires the Elk River Municipal Utilities <br />to expand the water production and water storage capabilities to satisfy the water system demands <br />for domestic water and fire protection. Water production facility/t7 and a water tower in eastern <br />Elk River has been planned for some time. The location of water production facility #7 is at the <br />intersection of Tyler Street and Co Rd 13 on the property previously owned by the Deschenes'. <br />The location of the eastern water tower is locates between Co Rd 12 and 175m Avenue on property <br />recently purchased from Riverside Development. <br /> The cost to construct these facilities are as follows: <br /> <br />Well #7 <br />Water Treatment Plant #7 <br />Water Tower <br /> <br /> $178,400 <br />$1,482,500 <br />$1,844,000 <br /> <br /> Total Net Proceeds $3,504,900 <br /> Required from Bond Sale <br /> Well #7 was completed in August 2001 by Mark J. Traut Well, Inc. The contract to construct <br />water treatment facility #7 was awarded to EnComm at the 8-14-01 Elk River Municipal Utilities <br />Commission meeting. Construction will start in September 2001 and will be completed in May <br />2002. The contract to construct a 1.5MG water tower was awarded to CBI at the 8-14-01 Elk <br />River Municipal Utilities Commission meeting. Construction will start in October 2001 and will <br />be completed in November 2002. <br /> Enclosed is Ehlers & Associates Bond Sale Report for G.O. Water Revenue Bonds Series <br />200lA for an issue amount of $3,590,000. <br /> The Elk River Municipal Utilities Commission at their 8-14-01 meeting approved the sale of <br />the above referenced bonds. Minutes of this meeting are attached. Elk River Municipal Utilities <br />Commission requests the City Council to authorize sale ofG. O. Water Revenue Bonds Series <br />200lA. <br /> <br /> <br />