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From YouTube: November 10, 2021 Board of Estimate & Taxation
Description
Additional information at https://lims.minneapolismn.gov
B
B
A
B
B
B
C
A
A
B
B
C
B
A
A
B
E
E
So
these
ratings
are
a
forward-looking
opinion
on
our
willingness
and
our
ability
to
meet
our
financial
obligations
and
for
perspective
both
of
these
agencies
rate
on
a
scale
from
aaa
to
d,
with
aaa
being
the
highest
credited
quality
issuers.
So
I
think
it's
fair
to
say
that
we're
viewed
quite
favorably
by
the
rating
agencies
at
this
time.
E
All
told
in
the
end
will
pay
back
135
million
in
principle
and
interest
over
the
next
20
years,
so
just
about
10
million
in
in
net
interest
over
20
years,
when
considering
the
125
million
dollars
received
next
slide.
Please
so
on
this
slide,
we
highlight
that,
after
cost
of
issuance
we're
going
to
be
putting
about
124.9
million
dollars
into
the
project
construction
fund.
E
Now,
in
the
bond
resolution
that
was
passed
by
this
board
and
is
also
included
in
today's
agenda
packet,
there
is
a
listing
of
each
of
the
individual
projects
being
financed.
However,
we
thought
it
might
be
helpful
to
also
include
some
of
the
five
largest
categories
that
are
being
financed
by
this
bond
sale,
and
you
can
see
them
in
the
the
second
chart
below
three
of
them
are
related
to
utility
projects,
one
to
the
construction
of
a
fire
station
and
one
is
related
to
street
improvements.
E
Lastly,
whenever
issuing
new
data,
it
can
be
helpful
to
look
at
the
city's
requirements
for
debt
principal
and
interest
payments
relative
to
other
city
spending,
and
in
this
chart
we
show
the
debt
levy,
the
debt
property
tax
levy.
I
should
say,
as
a
percent
of
the
total
levy
and
here
for
context,
we're
defining
the
debt
levy
as
a
combination
of
the
bond
redemption
levy
and
the
library
debt
levy,
and
you
can
see
that
this
has
been
relatively
stable
over
the
past
10
years.
E
Just
as
importantly,
but
not
shown
here.
I'll,
also
note
that,
when
looking
at
the
total
city
debt
service
of
all
kinds,
so
that
would
include
things
like
parking
debt
utility
debt,
that's
going
to
amount
to
eight
and
a
half
percent
of
all
total
city
spending
in
2022,
so
actually
substantially
better
than
what
you're
you're
seeing
just
here
in
this
chart.
E
You
know
favorable
debt
issues
of
the
city
of
minneapolis
relative
to
other
cities,
so
I
think
this
speaks
broadly
to
the
competent
debt
management,
both
of
the
the
policy
makers
here
in
the
city,
as
well
as
our
partners
on
the
city,
finance
staff,
particularly
in
the
budget
and
debt
and
investment
office,
next
slide.
Please.
E
D
So
so
I
I'm,
I
don't
know
you
know,
I'm
at
the
end
of
my
term.
I
guess
I
don't
know
have
to
be
that
suave,
so
we
had
kind
of
a
riot
last
year
which
did
destroy
quite
a
number
of
businesses,
and
I
assume
had
some
impact
on
the
local
economy
and
also
then,
we've
seen
a
decline
in
the
number
of
people
in
the
downtown
which
has
reduced
some
of
our
our
the
industries
in
the
city,
the
tourism-related
things
and
the
downtown
people
in
the
downtown.
D
How
did
this
play
into
the
bond
rating
and
what
did
the
bond
rating
people
have
to
say
about
this
because
it's
surprising
because
we're,
despite
the
fact
that
we
have
these
at
least
two?
Yes,
I
have
a
dog
here
who
also
wants
my
attention,
despite
the
fact
that
we
have
these
two
really
big
events
that
happened
and
are
still
happening.
Our
bond
ratings
got
better.
E
E
B
You
know
I
just
want
to
say
that
I
think
we
have
been
very,
very
well
served
over
the
course
of
the
years.
I
have
served
on
the
board
of
estimated
taxation
only
12
compared
to
ms
becker's
16.,
but
there
have
there
have
been
very
wise
and
thoughtful
decisions
made
by
those
people
who
oversee
our
our
our
debt
and
our
bonding
and,
and
it
has
saved
taxpayers
actually
millions
of
dollars
and-
and
I'm
I'm
really
grateful
for
that.
B
There
continues
to
be
sort
of
thoughtful
and
and
conservative
stewardship
of
of
these
decisions,
and-
and
I
hope
that
that
is
a
marker-
for
what
will
continue
to
serve
the
the
citizens
of
minneapolis
well
in
in
the
coming
years.
I
just
want
to
say
I
want
to
say
thank
you
from
my
standpoint
and
my
perspective.