Projected total bond for 2020 and 2021 Road Improvements and Equipment.

The total bond would be $2,850,000 to cover 2020 and 2021 Road Improvements and Equipment purchases.

Balance in PMA Financial CD's Fixed Income Network as of 1/31/2024.

1/31/2024 PMA Financial CD's Fixed Income Network $2,830,018.97

Series 2021A GO bonds principal

Original aggregate principal amount of the General Obligation Bonds, Series 2021A. Bucket: GO Bonds Series 2021A

Issuance of General Obligation Bonds, Series 2021A, to finance street improvements and municipal equipment.

A. WHEREAS, the City Council of the City of Nowthen, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $2,830,000 General Obligation Bonds, Series 2021A (the "Bonds"), to finance four street improvement projects and the acquisition of municipal equipment in the City; and B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9);

Series 2021A General Obligation Bonds authorized process

Council authorized Ehlers to move forward with the bonding process. Bucket: General Obligation Bonds Series 2021A

Issuance and sale of General Obligation Bonds, Series 2021A.

The City will forthwith issue and sell the Bonds pursuant to the Act, in the total principal amount of $2,830,000, originally dated October 7, 2021, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-1, upward, bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as follows:

General Obligation Bonds, Series 2021A, to finance street improvements and municipal equipment.

WHEREAS, the City Council of the City of Nowthen, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $2,830,000 General Obligation Bonds, Series 2021A (the "Bonds"), to finance four street improvement projects and the acquisition of municipal equipment in the City;

Issuance of General Obligation Bonds, Series 2021A, for public improvements and equipment.

The Mayor announced that the next order of business was consideration of the proposals which had been received for the purchase of the City's General Obligation Bonds, Series 2021A, to be issued in the original aggregate principal amount of $2,830,000.

Awarding the sale of General Obligation Bonds, Series 2021A.

A RESOLUTION AWARDING THE SALE OF GENERAL OBLIGATION BONDS, SERIES 2021A, IN THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF $2,830,000; FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT

Principal amount of General Obligation Bonds, Series 2021A.

Re: US$2,830,000 City of Nowthen, Minnesota, (Anoka County), General Obligation Bonds, Series 2021A, dated: October 07, 2021, due: February 01, 2032

Bonding process for General Obligation Bonds, Series 2021A.

MOTION BY ALDERS TO APPROVE RESOLUTION 2021-26 AUTHORIZING EHLERS TO WORK WITH STAFF TO MOVE FORWARD THE $2,830,000 BONDING PROCESS; 2ND BY BLAKE. ALL IN FAVOR. MOTION CARRIED.

Total par amount of General Obligation Improvement Bonds, Series 2021A.

Par Amount of Bonds $230,000.00 $300,000.00 $555,000.00 $865,000.00 $880,000.00 $2,830,000.00

Authorization to proceed with $2,830,000 General Obligation Bonds, Series 2021A, for street and equipment projects.

Kimmel presented an overview of the financing plan for the 2021 Bond Issue... MOTION BY ALDERS TO APPROVE RESOLUTION 2021-26 AUTHORIZING EHLERS TO WORK WITH STAFF TO MOVE FORWARD THE $2,830,000 BONDING PROCESS; 2ND BY BLAKE. ALL IN FAVOR. MOTION CARRIED.

2026 General Fund budget

General Fund appropriation in the 2026 adopted budget. Bucket: General Fund

treasurer_adjusted_bank_total

January 31, 2026 Treasurer's Report adjusted bank total and Schedule 1 ending balance. Bucket: Adjusted Bank Total

proposed_2026_general_budget

Packet resolution proposed 2026 general budget amount. Bucket: General fund budget

F29

Proposed 2026 General Fund total revenues and total expenditures and uses. Bucket: General Fund total revenues / expenditures and uses

2021 actual bond proceeds received.

<td>Bond Proceeds</td> <td></td> <td>2,800,727</td>

Total city cash and investments maturing in 2023.

<tr> <td>TOTAL</td> <td>$2,798,092</td> <td>$380,516</td> <td>$0</td> <td>$3,178,608</td> </tr>

F1_proposed_2026_general_fund_revenues

Proposed 2026 General Fund total revenues in the budget packet. Bucket: General Fund

F2_proposed_2026_general_fund_expenditures

Proposed 2026 General Fund total expenditures in the budget packet. Bucket: General Fund

proposed 2026 general fund total revenues and uses

Total proposed 2026 general fund revenues and total expenditures and uses. Bucket: proposed 2026 general fund

Total cash and investments before outstanding checks.

Total $2,765,488.02

October 2024 adjusted bank total

Adjusted bank total in the October 2024 Treasurer's Report. Bucket: October 2024 Treasurer's Report - Adjusted Bank Total

Adjusted bank total after outstanding checks.

Adjusted Bank Total $2,755,564.41

Schedule 1 ending balance.

SCHEDULE 1 Ending Balance: $ 2,755,564.41

Bid amount submitted by Viet & Company for the full street reconstruction project.

WHEREAS, pursuant to an advertisement for bids for the Project, bids were received, opened and tabulated according to law, and the following bids were received complying with the advertisement: ... Viet & Company $2,750,427.37

FIN-4

Unsuccessful bid listed in the resolution bid table. Bucket: Veit & Company bid total

Total levy before credits for levy payable year 2027/28.

2027/28 2,735,520 9,650,670 2,399,520 336,000 2,535,885 26.277% 8.38%

F5

Proposed 2026 budget total expenditures in the example summary budget comparison. Bucket: General fund total expenditures

Treasurer report adjusted bank total

September 30, 2024 Treasurer's Report adjusted bank total. Bucket: Adjusted Bank Total

Schedule 1 ending balance as of 9/30/2024.

SCHEDULE 1 Ending Balance: $ 2,711,343.08

Adjusted city bank total as of 9/30/2024.

Adjusted Bank Total $2,711,343.08

Total cash and investments in governmental funds as of 9/30/2024.

$2,711,000 in Cash & Investment's

Treasurer report PMA Financial CD balance

Cash/investment balance reported in the February 28, 2023 Treasurer's Report. Bucket: PMA Financial CD's Fixed Income Network

PMA Financial CDs Fixed Income Network balance as of 2/28/2023.

2/28/2023 PMA Financial CD's Fixed Income Network $2,700,496.88

State B2B grant estimate in packet

Approximate state grant amount listed in the packet for the Comcast broadband project. Bucket: State of Minnesota B2B funds

State of Minnesota’s contribution to the broadband project as part of the B2B grant application.

$4.8 million dollars and $2.7 million from the State of Minnesota, making the entire cost of the project ~$8.5 million dollars.

General tax levy for levy payable year 2029/30.

2029/30 3,091,995 9,931,352 2,690,995 401,000 2,866,912 28.867% 7.74%

Debt issued for fire equipment and related costs

City debt issuance discussed for fire equipment funding. Bucket: Fire equipment bond issue

Total debt issued for fire equipment and other purposes.

The city issued debt in the amount of $2,680,000. Of this amount $850,000 was set aside for equipment purchases.

Total beginning balance for all funds as of July 2021.

$2,660,966.79 $1,559,654.20 $1,655,743.99 $0.00 $0.00 ($131,305.00) $2,433,572.00

Total beginning cash balance for all funds as of March 2021.

$2,660,966.79 $203,569.97 $819,191.04 $0.00 $0.00 ($50,826.30) $1,994,519.42

Total city funds beginning balance for January 2021.

$2,660,966.79 $131,809.77 $509,903.04 $0.00 $0.00 ($17,576.82) $2,265,296.70

Total city funds beginning balance as of May 2021.

<td></td> <td>$2,660,966.79</td> <td>$286,481.97</td> <td>$1,104,760.71</td>

Total city tax levy after credits for levy payable year 2028/29.

2028/29 2,869,893 9,789,984 2,533,893 336,000 2,657,697 27.147% 4.91%

Total assessed building value for all Nowthen municipal properties subject to the charge.

<tr> <td>Nowthen total:</td> <td></td> <td></td> <td>$ 2,633,100</td> <td>$ 1,761.85</td> <td>$ 704.73</td> <td>$ 1,057.12</td> <td></td> </tr>

F19

2025 General Fund Budget Summary lists total expenditures and uses. Bucket: General fund total expenditures and uses

F13

2025 General Fund Budget Summary lists total revenues. Bucket: General fund total revenues

2025 General Fund total expenditures and uses

The General Fund Budget Summary listed 2025 total expenditures and uses at $2,626,720. Bucket: General Fund total expenditures and uses