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6.1-6.3 PRSR 07-16-1997 A.( Item#6.1. ,6.2. ,6.3. r, of it/ MEMORANDUM lk • River TO: Park & Recreation Commission FROM: Scott Harlicker, Planning Assistan.. 4 DATE: July 9, 1997 SUBJECT: Planning Items Attached for your review are three applications. The first is a request for an administrative subdivision. The applicant, James Warren, is proposing to subdivide a 40.45 acre parcel into 2 lots. The property is located at 19540 Tyler Street. There are no trails or parks planned for this site according to the Comprehensive Park Plan. Staff is suggesting a park dedication fee be required for this plat. Also attached for your review is a request for a preliminary and final plat by Phoenix Enterprises for Hillside Crossing Three. The applicant is proposing to plat 3.4 acres into one commercial lot and an outlot. The property is located at the corner of 197th Avenue and Evans Street. There are no trails or parks planned for this site according to the Comprehensive Park Plan. Staff is suggesting a park dedication fee be required for this plat. The third application is a request for preliminary plat and a conditional use permit for a mixed use PUD. The applicant, Guardian Angels, is proposing to plat 11.5 acres into 4 lots; the mixed use development includes townhouses, assisted living facilities, medical clinic and 2 retail buildings. The property is located 185th Avenue and Highway 10. The James Warren and Phoenix Enterises applications area scheduled for the July 21, 1997 City Council meeting for their consideration. The Guardian Angels application is scheduled for the July 24, 1997 Planning Commission meeting. Your comments would be appreciated. s:\planning\scott\pr7-9 mem.doc 13065 Orono Parkway • P.O. 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' . 4 ' '- , -':` • .. .. .._ , 9 • ,t,.$ •••••••••••:•-•,,.,,,\ •44.,.•.., /•••, ,, ■ • .i ' . d'.• t 0 . • \\. • '' •.. • I. • 1 .4 . . , . . . (..----x- \ . ., . • , • , . ... MEEK IIIIIIIIIIIIII1 lowsw la X i4.0 C 0 0 - r- - 1 U) ! _ Cr) 3 —1 til 91 1.).. N.) N 13 CIII) ri3 . i■-; > = t • imm3 POOLS COST ESTIMATES • CONVENTIONAL POOL 3' to 12' Depth, 40'x 100' (4,000 s.f) With Diving Board Deck 25' wide(10,000 s.f.) 1500 Square Foot Bath House Cost: $600,000 to $750,000 COMBO POOL Conventional Pool 40'x 100'(4,000 s.f.) Zero Depth 100' x 100' (10,000 s.f) Slide Wells, Toys& 40' Wide Deck(20,000 s.f) 2,000 Square Foot Bath House Cost: $1.8 to 2.3 million ATTACHMENT A - SAND PARK WADING POOL Zero Depth 40' x 50' (2,000 s.f.), 3' Deep Deck 15' Wide (3,000 s.f) Cost: $250,000 to $300,000 ATTACHMENT B - RUSH CITY RECREATION CENTER • 40' x 70' Lap Pool 40' x 40' Zero Depth With Play Structure 150' Slide With Plunge Pool 25' x 30' Diving Well 14,000 Square Foot Deck Bath House N.I.C. Cost: $2,000,000 ATTACHMENT C- NORTH COMMONS AQUATIC CENTER 36' x 50' Lap Pool - Cost: $400,000 36' x 60' Zero Depth With Play Equipment Including 2 Slides With 25' x 40' Plunge Pool With 14,000 Square Foot Deck - Cost: $1,000,000 Bath House -N.I.C. • • ATTACHMENT D - ALBERT LEA MUNICIPAL AQUATIC FACILITY 30' x 45' Shallow Pool 20' x 20' Plunge Pool 2 Slides 4,000 Square Foot Deck Bath House Cost: $980,000 ATTACHMENT E - NORTHWOODS, IOWA 28' x 50' Lap Pool 20' x 25' Plunge Pool 1 Slide 900 Square Foot Shallow Pool With Toys Cost: $640,000 ATTACHMENT F- SCS COMPANY Model 400 $220,000 Shipping 15,000 Pump, Filters, Plumbing 200,000 1111 Deck 9,500 s.f. 25,000 Assembly 33,000 Bath House 30' x 50' 200,000 Contingency 70,000 TOTAL $763,000 FLANDREAU STATE PARK, New Ulm, MN Zero Depth 0-6' Deep - Sand Bottom 150' x 150' (22,500 s.f) Filter System 1997 Costs: $500,000 Bath House CONVENTIONAL POOL 3' to 12' Deep 70' x 100' Cost: $750,000 Bath House 30' x 50' Cost: $200,000 • s:\offsite\street\pools.doc ATTACHMENT A , fIlli SAND PARK WADING POOL Owner. Rockford Park District Rockford,Illinois Completed: . • Summer 1994 _ r /"� ' Construction Cost: --�----- i ti -� :::141-''t$330,000 _ III _'�i e.�.-. f_......f.--. ...„._-...-...F7_,„r .:k.f..1.4,?et r3 1,,,,,--_,_ k. -.. t tki,..:-4.-74 Pool Size: F y r �r 2,'54 SF Wading Pool eA i1 :r 3 i -4 0 . Af'i 1 ) E --- View of pool from slide tower. III — -- �_ - -_,___ _=.7. ,...„ __ __ _-_-__„.___„,,,„m„...„_____,_ ___„_::,„..1„ , ,...„, ...„_...,,„__,,, - , _:_-„,,,,,..„,_... ___ _ ,_ __, _,,_ __,„:„. _ __, _-±-,:-.f.---- ,-_±.-:_-= _ - 1-,.--:::-., The wading pool at Sand Park .7", ` - was an addition to an existing i-3 swimming pool facility in _. . � - e.- g-- Rockford,Illinois. It features a ' 1 - 4 ' ` - # 1 Kiddie Twister water slide and .ti 1 an SCS 212 interactive 1 ; waterplay structure. F 1 I Y 1 •, . ,- One of the many interactive elements on theSCS 2/2. A I I I lif ?. �f Water Technology, Inc. P.O. 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I r - -- i::1io'i . 0 � � c � iiii Mg MIME ' ' • In IMRE 44111. la a I IMEIII91 ilinLj .. rill .. :II [ imui .: D ■ n = JUN-06-1997 11:49 FROM SCS INTERACTIVE CR TO 16124417425 P.I2 ATTACHMENT F sçs u r • MODEL 400 :i II,11` /e :: J rs 1)� 1.44-;II .?. :� • � l•ii r II 1 t _ _'�� t 'Il IU.�al�t °'.! �;: Ill wow ','r;;I. y11f`{`{11 ' .,l , ,,,� '111 11111il1l'i'3 \oY 'y, il.d `\- , ' �s f. �� Ilt�if rr i „i Ii �� 11 y� ;,�i! -.4: ..,,.....,..m.cf,..* ► e ♦ *Alm —s The SCS'" Model 400, also known as The Waterworks, is a complete "mini-waterpark" designed to offer excitement and adventure for every member of the family. Participants can interact with the water features or choose to ride the slides, allowing the guest a myriad of play opportunities within a minimal amount of space. The centerpiece of the unit are two large waterwheels which spin and splash overhead, then dump the water into a series of troughs and falls. As with all of our play structures, add to the experience by theming in Caribbean,Treehouse, Pirate Fort or the motif of your choice. WATER FEATURES 4- Single Angle Jets PLAY FEATURES OPTIONAL ACCESSORIES 1 - 16'Central Falls 27- Horizontal Jets 1 - 16'Straight Tunnel Slide Pontoon Walk 1 - 16'Central Falls 39-Angle Jets 2- 19'Curved Tunnel Slides Tipping Troughs (Double Sided) 2- Pipe Arches With 1 - Open Spiral Slide Spiral Spinner 3- Pipe Falls 5'Water-Wheels 1 - 4'Open Straight Slide Spinning Tray • 2- water Curtains(7') 4- Overhead Runnels 10- Platforms of various Heights 2-Man Pump 12- Bubbler Jets (Under Water-Wheels) 2. 6'High Bridges Funny Mirrors 52- Bar Jets 3- Runnels(Pool Floor) 2- Crawl Tunnels 9-Waterguns 5 - High Angle Jets 1 -Tire Swing 1 - Umbrella Jet 9- Overhead Rope Pulls 6 Hose Jets 17'-0" . 10'-0" 6'-0" 10'-0" , 6'-0" 7'-6" 16'-0"± ' 24- Peacock Jets • 15- Up Jets �' 1- 1 2' I ,•• NN,, . ____ i i } t ,_.„„ , . a Y` 7. 1.14.11!" ' 0 2' 4' 6' 6' 6' I 8' - —I-- I i r- T 1 2' Q s 4111)R c tr) el Ni'\.3,.,\ ,_ IPAll SCS*Play Systems are built of steel pipe galvanized inside and out, specially cleaned and primed,then finished with a chlorine and chemical resistant polyurethane paint. The colors on the structure shown above are suggestions only.Your structure can be painted in the colors of your choice.Please refer to the model 212 sketch for our standard color recommendations. U.S.Patent Numbers.5.194,048 and 330,579.Other patents pending.Interactive Waterplay"is a registered trademark of SCS"Company. a00.9605 F • REPORT TO THE ELK RIVERS PARKS AND RECREATION COMMISSION OF HIGHLIGHTS OF THE 1997 AMERICAN PLANNING ASSOCIATION MEETINGS I attended the American Planning Association's National Planning Conference last April in San Diego as one of the more than 2500 Park Commissioners, Planning Commissioners and other Citizen Planners who took part. During my four days I attended three mobile workshops which dealt specifically with park issues, six other educational sessions on various topics, an opening reception, an awards luncheon plus another reception for planning commissioners. I came in contact with a number of people involved with planning and felt that the conference as a whole was very enlightening. I am appreciative that the City of Elk River paid my conference registration. The following summarizes some of the highlights of the Conference. Balboa Park: A 4 hr. bus/walking tour of a 1400 acre cultural/educational/recreational city park established in 1868. The park is located just outside of downtown San Diego and is the home of the San Diego Zoo, Botanical Building, Old Globe Theater, a number of museums, and an international village, to name but a few of the attractions located on the Park's Central Mesa. In addition the park includes countless recreational and other amenities/facilities, including an 18 hole golf course, picnic grounds, a rose garden, plus a former landfill area which has not yet been reclaimed. Balboa enjoys high use and serves the needs of many different people. Key issues which were emphasized included difficulties of designing plazas and other pedestrian spaces which are car-free; difficulties of bringing multiple and sometimes conflicting interests into master-planning process; facility restoration and/or new construction; the failure to protect scenic views from new construction by the San Diego Naval Hospital; re-forestation issues, and noise pollution(from both auto and flight traffic). Mission Bay Park: A 3 hr bus/boat tour of 4000 acre city park which includes aquatic resorts, recreational facilities, picnic areas, residential areas, camp grounds, beaches, a bike trail loop, a wild-life sanctuary, wetlands, a huge mobile home park and the municipal sludge drying site(soon to be phased out). The Park includes Sea World and at least 4 major hotel/marina complexes. It is also the site of major boat races. The park configuration is Mission Bay plus the shoreline surrounding it. Residential areas blend into SeaWorld and the resorts, which in turn blend into recreational areas and beaches, and so on and so on. Key issues which were emphasized were wetland protection and expansion(the sole remaining wetland area will be doubled when the mobile home park is removed and the land returned to wetland); water purity and the health of the Bay; the need to involve all players in the recently completed Park Comprehensive Plan; home owner/walking-bike trail conflicts; conflict resolution; and adaptation of the sludge drying facility land area to new uses(land will be added to the wildlife sanctuary, the campground area, plus residential development(I think). Mission Trails Park: A 3 1 hour bus/walking tour of 5700 acre regional open space park located 8 miles from downtown San Diego. Although largely surrounded by residential development, the Park includes mountains, two lakes, a major river, wildlife habitat, archeological sites, a visitor center, spectacular views which depict San Diego much as it was before its A "discovery" by the Spanish in 1542. The Park was founded in the 1970's and is a cooperative city-county venture. About 1/5 of the park was a former gunnery range used by the US Navy, who before turning the land over to the park removed some 4000 pieces of unexploded ordinance. This history, park officials say, is quite useful in encouraging people"to stay on the trails". Key issues which were emphasized included the fact that the visitors center was essentially the 5.2 million dollar pet project of the Mission Trails Regional Park Foundation, a citizen support arm for the park. Additional funds came in the form of lease revenue from an antenna farm located within the park. Another key point is that the park has only a full time staff of four but is supported by 250 volunteers who do everything from serving as guides, to running the gift shop, to publishing the newsletter, to staffing workshops, etc. Another point was that the park heavily emphasizes its wildlife, Native American heritage which goes back approximately 10,000 years, plus early California settlement history. Links with Elk River Park and Recreation Programs: 1. Each of the 3 parks involves multi-users/stakeholders whose interests have to be accommodated in park planning and operations. Accommodating these stakeholders involves communication, conflict resolution(at times), and the ongoing need to respond to new issues/concerns. Communication between residents in adjoining areas, commercial interests within Park boundaries, recreational users, historic preservation advocates, natural resource agencies, multi-governmental jurisdictions, etc, while at a scale which dwarfs our local situation, does • capture many of the same issues facing the Elk River Park and Recreation Commission. 2. Balboa and Mission Trails use ongoing revenues from utility and attraction leases to partially support their operations. Mission Trails also used trade-offs with other city agencies, such as charging to store dirt, using sewer projects to construct trails and roadways, etc. Are there additional ways the Commission can partner with the City of Elk River which can enhance our parks? 3. Mission Trails uses a staff of 4 to cover park and visitor center needs plus a volunteer force of 250. Is there the need to bring more volunteers into our system? If so, how is the best way to accomplish bringing more volunteers in and training them? 4. Each park stressed local heritage and culture through an interpretative center(Mission Hills) through attractions: SeaWorld(Mission Bay), the San Diego Zoo(Balboa), etc, and through wild- life protection areas(Mission Bay and Mission Hills). It will probably be not too long before interpretative programs, wildlife protection, and cultural resource protection issues will be coming before the Commission. How do we anticipate and prepare for such issues? 5. A copy of the Mission Trails Regional Park Master Development Plan, examples of maps, newsletters and brochures, plus excerpts from 3 Balboa Park Precise Plans(Inspiration Point, Central and East Mesa), are included in the attached folder which has been donated to the • Commission for its future reference. • • WALKABLE COMMUNITIES: This session was presented by the Bicycle Federation of America and was pitched to design roadways that can be shared by pedestrians and automobiles. Presenters suggested the criteria for planners to use for pedestrian friendly by-ways to include security, convenience, efficiency, comfort and welcome. The Federation suggested some tools to help planners and citizens, including walkability audits(which measure walking-related needs), pedestrian facility and design courses, and walkable communities workshops. Additional information can be obtained by writing the National Bicycle and Pedestrian Clearing House, 1506 21st St, NW, Suite 210, Washington, DC, or calling 800/760/NBPC. CONSENSUS IN THE FACE OF CONFLICT: Presenters at this session discussed various examples of conflict resolution techniques useful to planners and others working in a polarized situation. Presenters made the point that when one works for consensus among different points of view, the goal is acceptance of differences, and not necessarily agreement. Conflict is likely to occur in situations which have lots of players, working in a process on multiple issues without clearly defined goals/outcomes, over an extended period of times. Planners/Commission members/etc should be aware of these variables and work to minimize their impact. COMMUNITY INDICATORS: Session presented information on how the economic and social health of a community can be measured through the use indicators which the community has • agreed upon. TRUE COSTS OF GROWTH MANAGEMENT: Presentation looked at problems rural communities had in implementing the Washington(state of) Growth Management Act. Panelists included a member of a rural zoning board, a county commissioner from the same board, an attorney and a planner. INTERNATIONAL COUNTRYSIDE STEWARDSHIP EXCHANGE PROGRAM: Presentation featured a unique program which brings international teams of experts together to address growth management, sustainable development, environmental conflict, and other issues affecting rural communities which have invited the teams in to advise them. Program operates in US, Canada and Great Britain. ISTEA REAUTHORIZATION WORKSHOP: This session featured a panel which discussed the American Planning Associations response to the reauthorization of the Intermodal Surface Transportation Enhancement Act currently before Congress. As you can see I sampled issues other than those directly related to parks, choosing from workshops and presentations which offered hundreds of choices. I conclude by saying that attendance at the Conference was a great opportunity to gather useful information. Respectfully Submitted, • Commissioner John Kuester July 16, 97 A( • MEMORANDUM City of iv TO: MAYOR AND CITY COUNCIL E lk r Rive FROM: STEPHEN ROHLF, BUILDING AND ZONING ADMINISTRATOR DATE: JULY 21, 1997 '512, SUBJECT: UPDATE TO THE MASTER PARK PLAN/P.H. BACKGROUND: The original Park and Recreation Plan was adopted as an addendum to the City of Elk River's Growth Management Plan in 1990. The current process of updating the Master Park and Recreation Plan began in the fall of 1993. The Elk River Planning Commission reviewed the update of the Master Park • and Recreation Plan on February 15, 1996 (minutes attached). The Update to the Master Park and Recreation Plan was Tabled by the Elk River City Council in March of 1996. A citizen survey, which included questions pertaining to parks, was conducted by Decision Resources Ltd. in April and May of 1997. REVIEW: The Council received the Park and Recreation Commission's recommended update to the Master Park and Recreation Plan in last week's packet. That recommended plan reflects a great deal of research that will, hopefully, make it a more useable document than the original plan. The major components of the plan include: Neighborhood Parks - These parks are planned to be strategically positioned in the city's planned urban service area. Spacing of these parks is a function population, travel distance to the parks and physical barriers. Most additional neighborhood parks will be acquired through park dedications • when property develops. However, it may be desirable to purchase neighborhood parks in intensely populated areas where development proposals are unlikely in the near future, i.e. east of Highway 169. f:\shrdoc\b&z\stever\parkcc.doc 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 •TDD &Phone: (612) 441-7420 • Fax: (612) 441-7425 • RECOMMENDATION: The update of the Master Park and Recreation Plan is a well thought-tin otter— document that is the result of much research and hard work by the Elk River Park and Recreation Commission. This plan also reflects the desires of the citizens of Elk River, according to the resent survey. Staff and the Park and Recreation Commission strongly urge adoption of this plan as an addendum to the City of Elk River's Comprehensive Plan. • • f:\shrdoc\b&z\stever\parkcc.doc OFFICIAL ELECTION BALLOT CITY OF-PrNMWAMMAM SIN,Ld -Balglkialikk COUNTY MINNESOTA ***** "Shall the City of ley, Minnesota, * * YES be authorized to issue its general ***** obligation bonds in an amount not to exceed OD0 Y)D to defray the expense of the ***** acquisition, construction, equipping and * * NO betterment of public park and recreational ***** facilities for the City?" NOTICE: BY VOTING "YES" ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A PROPERTY TAX INCREASE. The maximum amount of increased levy as a percentage of market value is % . The amount) that will be raised by the new • referendum tax rate in the first year it is to be levied is $ INSTRUCTION TO VOTERS: If you wish to vote in favor of the above proposition, mark a cross (X) in the square before the word "YES" . If you wish to vote against the above proposition, mark a cross (X) in the square before the word "NO" . (NOTE: On the back of each ballot shall be printed the words "Official Ballot" , the date of the election and lines for the initials of the judges. ) • 347372.1, 3 • Woodlands Trails Park Warming House $100,000 2 - Open Shelters 1 -Rest Rooms 50,000 Orono Park 1 -Rest Room 50,000 Add Playground Equipment 50,000 Country Crossing 31d Playground Equipment 30,000 '/2 Court Basketball 5,000 Mississippi Oaks Playground Equipment 30,000 '/2 Court 5,000 Lafayette Woods Playground Equipment 35,000 2 1/2 Courts 10,000 Ridgewood East Add Playground Equipment 20,000 Lights 2,000 Deerfield IV Add Playground Equipment 20,000 • Hillside 5th Playground Equipment 30,000 1/2 Court 5,000 Meadowvale Heights Playground Equipment 30,000 1/2 Court 5,000 East of 169 Park Playground Equipment 30,000 1/2 Court 5,000 Open Shelter 25,000 Total This Section $537,000 • r i S Orono Softball Complex 1 Rest Room $ 50,000 Oak Knoll Combination Shelter/ Concessions/Restroom in center 100,000 Cass Fields 4 - Lighted Fields 180,000 1 - Combination Shelter/ Concessions/Restroom 125,000 1 - Open Shelter 25,000 Total This Section $480,000 Funds to Purchase Park Land 100,000 Trail Babcock Park to Downtown 50,000 Riverwalk Phase II for Cass Fields 100,000 Lion's Teen Center 150,000 Total This Section $400,000 • Trails Rail Road Trail 4.5 miles $200,000 169 to Proctor Link 1.0 mile 70,000 Country Crossing I 1/4 mile 15,000 Oak Knoll 'h mile 25,000 Woodland Trails 2.0 miles 125,000 Highway 10 1.5 miles 75,000 Total This Section $ 510,000 Engineer& Design $ 73,000 GRAND TOTAL $2,000,000 s:TUL--422-97 13 : 01 FROM: SPRINGSTED INC ID:6122233093 PAGE 2/4 City of Elk River, Minnesota 411 General Obligation Park Bonds, Series 1998 20 Year Schedule Summary of G.O. Bond Issue Scenarios •n•>. ..aw: Composition: Net Proceeds $ 1,939,900 $ 1,975,900 Costs of Issuance 24,100 24,100 Underwriters Discount 36,000 $40,000 Total Bond Issue Size $ 2,000,000 S • 2,040,000 Debt Service Comparison: Avg.Annual Levy @105% $170,799 $174,335 Tax Rate' 0.030% o 0.031/o Net Interest Cost $1,289,308 $1,320,663 True Interest Rate 5.537% 5.556% .•- m ,?ly;'�xf�'���e"r.�3;� �ai�r � 1� � �K'�,z��'�i IM 'c 'si.42�1`. ..•4 t.'s`-1,7ic� ��Z oeii � A�2F`.�C,� � � i. ital� � x '1 Z Y<".�'�+����i•Ry' a� as ��. >�:�zcrs..�' t etra+ ';j t,m0etzt r" ,'�y gteAcax:Ratet Acat2s ,fir ' 'rec 4 G n S �tS is�. > #,`,� < `^ .�v�!itl�p/ �:?�`.s..� .?` �t,t!'3 g. .. iope +.`='u. 0,Yf: ,P)1,C 4130 V. 4.ity -r-4 ``w . .....rie�'^ie w;SS 04 1 • $50,000 $15 $16 $75,000 23 23 $100,000 30 31 $125,000 38 39 $150,000 45 47 $175,000 53 54 $200,000 60 62 $400,000 120 124 $600,000 180 186 $800,000 240 248 $1,000,000 300 310 Tax rate is calculated by dividing the average annual levy for each issue by the City's referendum market value of $561,503,703. Please Note- -Assumes a 1997 levy and a spring 1998 sale. -Interest rates used in the debt service schedules are estimates and changes may cause • significant alterations to the above information. S • Prepared by Springsted Incorporated(7/22/97) ..7122-97 13: 02 FROM=SPRINGSTED INC ID=6122233093 PAGE 3/4 City of Elk River, Minnesota Prepared July 22, 1997 General Obligation Park Bonds, Series 1998 By SPRINGSTED Incorporated S2,000,000 Issue Size fated: 5- 1-1998 ture: 2- 1 First Interest: 8- 1-1998 Total Year of Year of Principal 105% Levy Mat. Principal Rates Interest & Interest of Total (1) (2) (3) (4) (5) (6) (7) 1997 1999 85,000 4.30% 77,252 162,252 170,365 1998 2000 65,000 4.40% 99,347 164,347 172,564 1999 2001 65,000 4.50% 96,487 161,487 169,561 2000 2002 70,000 4.60% 93,562 163,562 171,740 2001 2003 75,000 4.65% 90,342 165,342 173,609 2002 2004 75,000 4.70% 86,854 161,854 169,947 2003 2005 80,000 4.80% 83,329 163,329 171 ,495 2004 2006 85,000 4.90% 79,489 164,489 172,713 2005 2007 85,000 5.00% 75,324 160,324 168,340 2006 2008 90,000 5.10% 71 ,074 161 ,074 169,128 2007 2009 95,000 5.15% 66,484 161,484 169,558 2008 2010 100,000 5.20% 61 ,591 161 ,591 169,671 2009 2011 105,000 5.30% 56,391 161 ,391 169,461 2010 2012 110,000 5.35% 50,826 160,826 168,867 2011 2013 120,000 5.40% 44,941 164,941 173,188 2012 2014 125,000 5.45% 38,461 163,461 171 ,634 2013 2015 130,000 5.50% 31 ,648 161 ,648 169,730 42014 2016 140,000 5.55% 24,498 164,498 172,723 2015 2017 145,000 5.55% 16,728 161 ,728 169,814 2016 2018 155,000 5.60% 8,680 163,680 171 ,864 TOTALS: 2,000,000 1,253,308 3,253,308 3,415,972 Bond Years: 23,455.00 Annual Interest: 1 ,253,308 Avg. Maturity: 11.73 Plus Discount: 36,000 Avg. Annual Rate: 5.343% Net Interest: 1,289,308 T.I.C. Rate: 5.537% N.I.C. Rate: 5.497% Interest rates are estimates; changes may cause significant alterations of this schedule. The actual underwriter's discount bid may also vary. III . . • JUL-22-97 13 : 02 FROM.SPRINGSTED INC ID:6122233093 PAGE 4/4 City of Elk River, Minnesota Prepared July 22, 1997 General Obligation Park Bonds, Series 1998 By SPRINGSTED Incorporated $2,040,000 Issue Size liked: 5- 1-1998 ure: 2- 1 First Interest: 8- 1-1998 Total Year of Year of Principal 105% Levy Mat. Principal Rates Interest & Interest of Total (1) (2) (3) (4) (5) (6) (7) 1997 1999 85,000 4.30% ... _ 78,832 163,832 172,024 1998 2000 65,000 4.40% 101,454 166,454 174,777 1999 2001 65,000 4.50% 98,594 163,594 171 ,774 2000 2002 70,000 4.60% 95,669 165,669 173,952 2001 2003 75,000 4.65% 92,449 167,449 175,821 2002 2004 75,000 4.70% 88,961 163,961 172,159 2003 2005 80,000 4.80% 85,436 165,436 173,708 2004 2006 85,000 4.90% 81,596 166,596 174,926 2005 2007 90,000 5.00% 77,431 167,431 175,803 2006 2008 95,000 5.10% 72,931 167,931 176,328 2007 2009 100,000 5.15% 68,086 168,086 176,490 2008 2010 105,000 5.20% 62,936 167,936 176,333 2009 2011 110,000 5.30% 57,476 167,476 175,850 2010 2012 115,000 5.35% 51 ,646 166,646 174,978 2011 2013 120,000 5.40% 45,493 165,493 173,768 2012 2014 125,000 5.45% 39,013 164,013 172,214 2013 2015 135,000 5.50% 32,200 167,200 175,560 014 2016 140,000 5.55% 24,775 164,775 173,014 015 2017 150,000 5.55% 17,005 167,005 175,355 2016 2018 155,000 5.60% 8,680 163,680 171 ,864 TOTALS: 2,040,000 1,280,663 3,320,663 3,486,698 Bond Years: 23,970.00 Annual Interest: 1 ,280,663 Avg. Maturity: 11 .75 Plus Discount: 40,000 Avg. Annual Rate: 5.343% Net Interest: 1,320,663 T.I.C. Rate: 5.556% N.I.C. Rate: 5.510% Interest rates are estimates; changes may cause significant alterations of this schedule. The actual underwriter's discount bid may also vary. 4111 • •