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• Page 3 City Council Minutes Apri128, 1999 Administrator Hoyt said this request is made to eliminate pazking along the azea that school children walk on the northside of Holton directly to the school. Also, Garden Avenue narrows as it meets Holton Street and state highway aid standazds require the azea to be posted "no pazking" to qualify for state aid on the reconstruction project. Motion was made by Councilmember Gibson Talbot to approve Resolution 99-11. Motion passed unanimously. Consideration of Resolution 99-13 calling for the sale of 1999A General Obligation Bonds for the 1999 Street Project Shazon Klumpp, financial advisor with Springsted Inc., reported on the anticipated sale of $1,580,000 general obligation bonds for the reconstruction of the streets in the northeast quadrant. Klumpp said the anticipated interest rate is 4.3% but will fluctuate and may vary on the date of the sale which is May 26, 1999. The results of the sale will be brought to the May 26a` council meeting. The bonds will cover the entire project costs including engineering, financial prepazation and legal counsel. Councilmember Hustad made the motion to approve Resolution 99-13. Motion passed unanimously. • Consideration of an amendment to the agreement with Springsted for financial services for arbitrage and disclosure reporting Administrator Hoyt said the amendment to the agreement entered into in December, 1996 with Springsted would agree to have Springsted cover azbitrage and disclosure reporting that is required by the federal government to include this bond issue. The city staff does not have the expertise to manage these annual financial requirements and recommends Springsted's services be used for this purpose. Councilmember Kuettel made the motion to approve the amendment to the agreement effective only after the sale and awazd of the 1999A G.O. improvement bonds. Motion passed unanimously. Becoming a Community of Promise Mayor Gehrz talked about the concept of Falcon Heights becoming a "Community of Promise". Gehrz said this is a nationwide youth development organization that is encouraging communities to provide mentoring, safe places, service opportunities, nurturing and teaching and leazning opportunities to its youth. Gehrz also said that a youth summit gathering will be held at the state fairgrounds in Falcon Heights possibly in the yeaz 2000. Mayor Gehrz asked the council to consider formally adopting a motion to indicate that Falcon Heights be officially named a Community of Promise. Councilmember Hustad made the motion to officially include Falcon Heights as a • Community of Promise. Motion passed unanimously.