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VI-5 <br />MEMORANDUM <br />TO: Honorable Mayor and City Councilmembers <br />FROM: Dave Osberg, City Administrator <br />DATE: March 29, 2007 <br />SUBJECT: DCC Equipment Acquisition Financing Resolution <br />RECOMMENDED CITY COUNCIL ACTION <br />It is recommended that the City Council take action approving the enclosed "Resolution <br />Ratifying the Proposed Issuance and Sale of Dakota Communications Center Public <br />Safety Revenue Bonds, Providing for Allocated Share of the Payment Thereof." <br />BACKGROUND <br />The City of Hastings is a member of the Dakota Communications Center which will open <br />this fall, and serve as the Joint Dispatch Center for Cities in Dakota County, along with <br />Dakota County. In anticipation of the opening, significant investments are being made in <br />the new facility, and in the new equipment needed for operation. The attached letter and <br />supporting documentation provided by DCC Executive Director Kent Therkelsen <br />provides an excellent explanation of the resolution and the financing mechanism being <br />used to acquire the equipment. The City of Hastings will be responsible for its <br />proportional share of 4.08%, with an annual payment of about $49,500 for each of the <br />next six years, and a smaller payment in the final year of $19,455 in 2013. Staff <br />recommends approval of the attached Resolution. <br />