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<br />The local share costs could be used in one of three ways: <br />1. To call the G.O. bonds. sold to acquire the land. This <br />is not a good option... <br />2. To cancel the debt service levy for the bonds and use the <br />interest rate differential between the bonds (.about 60) <br />and. current investment return (about 140) for operating <br />expenses or capital .improvements. <br />3. To not cancel the debt service levy and use the money for <br />future park improvements and/or to establish a trust fund <br />for future maintenance and operational .expenses. I favor <br />this option., if there are no problems with it. <br />In conclusion, I recognize the value of our park system and <br />favor continued development of it - if the money is available <br />and in competition with other needs. The reasonable development <br />of Long Lake Park assumes a very vital role in our system: <br />to proved needed funding for the entire system through the <br />local share cost reimbursement, <br />JWF:jf <br />cc: City Council <br />-3- <br />