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• <br />Financing <br />A.` County Developed <br />Theiestimated.$750,000 refund for local share costs ' <br />could be used for operating expenses, other park., <br />improvements or used to call and refund the 1967 <br />and 1969 G. O, park bonds. It could generate up <br />to $75,044/year for operating expenses or other <br />improvements above that needed for debt service <br />should the mill levy be canceled but the bonds not <br />called.- The_principal~invested and the interest <br />earnings .would decrease howeven, over time. <br />The'mill Levy for the park bonds would not have to <br />be cancelled, however, leaving the full $750,000 for <br />'~ operating expenses or an operating contingency or' <br />'~ other park improvements. <br />B. City Developed <br />The Capital expense (at $1,000,D00) would require .a <br />debt service obligation of about $135,000/year for <br />15 years at loo interest. That would require a park <br />bond referendum or the pledge of liquor operation <br />profits (1980 profit: $200,000) <br />The City would have to use its almost non-existent <br />' levy capacity within the levy limits for operating <br />expenses. This would be difficult. <br />A bond referendum with an operating mill levy included <br />".would be about, the best way to'proceed for a City <br />developed park. <br />~, <br />,, <br />y <br />r <br /> <br />