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27~. PROPOSED RESIDENTIAL EQUIVALENT ASSESSMENT RATE FOR LARPENTEUR AVENUE AND LINDIG STREET City Engineer Maurer explained that it is useful to provide abutting property owners with some cost estimates for the proposed assessment during the early phases of discussing a street project. If necessary, the assessment rate can be revised during the formal assessment process. Engineer Maurer recommended that the council use $26.50 per front foot for the residential assessment rate for Larpenteur Avenue and Lindig St. Councilmember Hustad moved to approve this rate and motion carried unanimously. COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 12/31 /95 City Accountant, Joe Rigdon, introduced the auditor, Mr. Dave Hinnenkamp of Kern, DeWenter, Viere, Ltd. who guided the council through the 1995 annual financial report and related audit. Mr. Hinnenkamp summarized the city's annual 1995 Financial Report. PROPOSED REVISIONS TO THE 1995 POLICE CONTRACT Administrator Hoyt explained that the city's police contract with the City of St. Anthony Police Department terminates in 1997. Anew contract is proposed with a termination process rather than providing a termination date. The proposals for 1997 and 1998 are $349,365 and $363,340 respectively. Councilmember Jacobs moved to approve the police contract. The motion carried unanimously. PROPOSED RESOLUTION REQUESTING PERFORMANCE AID A proposal passed by the 1996 legislature requires that the city submit a resolution requesting Performance Aid to the Minnesota Department of Revenue. The aid is part of the city's allocated Homestead and Agricultural Credit Aid which will be held back unless a resolution requesting it is submitted. The amount of aid is $5,380 or the equivalent of the city's population. The purpose of performance aid is to encourage cities to maintain performance measures on its services. After a brief discussion, Councilmember Gibson Talbot moved to approve Resolution R-96-06 requesting performance aid. The motion passed unanimously.