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• 2019 Ra.smussen Road Improvement Project— Estimated cost of$2,500,000. <br /> Utilization of road turnback funds (50%) and levy funds (50%) to finance <br /> this Project. Annual bond payment of$97,000 for 20 years beginning in <br /> 2020 for the levy portion. This may increase the tax ra.te by an additional <br /> 3%. <br /> • Fund balance utilization of$75,000 has been preliminarily pledged from <br /> 2020 to 2024 to aid in the tax rate spikes of the above projects. <br /> The Council should review all of this information prior to the Special Meeting on <br /> August 23� so you are familiar with the requests. Listed below are the larger <br /> operational expenditure increases (over $2,500) that are reflected in the attached <br /> tax levy funds. <br /> Preliminary Taz Lew Fund Bud�et Line Item Increases over $2,500 <br /> 1. Employee Wages —The budget does not reflect a specific percentage <br /> increase but rather a lump sum amount until a recommendation by the <br /> Personnel Committee based on the classificarion and compensation study is <br /> brought forth. <br /> 2. Health Insurance—The budget reflects a 10% increase for health insurance <br /> premiums. <br /> 3. Administration—Telephone—For an upgrade of the internet speed at City <br /> Hall. <br /> 4. General Building— Capital Outlay— For new signs at City Hall and the <br /> Public Works Facility. <br /> 5. General Building— Capital Outlay Carryover—For future upgrades to City <br /> Hall. <br /> 6. Police— Capital Outlay—For the purchase of a squad car, radar, and I.T. <br /> upgrades. <br /> 7. Fire Contracts—Contract Services —For Pequot Lakes and Nisswa fire <br /> services. <br /> 8. Roads & Streets—Operating Supplies —For salt/sand, UPM mix, cold mix, <br /> gravel, equipment repair parts, plow edges, lubes, anti-virus software, <br /> copies, and additional salt/sand/gravel for road turnbacks. <br /> 9. Roads & Streets— Contract Services — For grading, crackfilling, fire <br /> extinguisher certifications, striping, calcium chloride, DOT inspections, <br /> computer service, and additional striping for road turnbacks. <br /> 10.Street Lighting— Repair/Maintenance/Services—For potential repairs of <br /> street lights along Highway 371 that are the City's responsibility. <br />