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consent consent Consent sent ons �ertt consent <br /> Meeting Date: 12/9/92 <br /> Agenda Item: C -7 <br /> CITY OF FALCON HEIGHTS <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: End -of- the -year Tax Increment Fund Changes <br /> SUBMITTED BY: Susan Hoyt, City Administrator <br /> REVIEWED BY: Steve Apfelbacher, Financial Consultant <br /> Tom Kelly, City Accountant <br /> EXPLANATION /SUMMARY: <br /> Staff met with the financial consultants, Steve Apfelbacher and <br /> Dave Maroney about the TIF accounts in anticipation of refunding <br /> bonds for 1 -2 and 2 -1 and in -depth financial planning in the <br /> early months of 1993. The consultants recommend that the council <br /> authorize the transfer of fund balaqnces for District 1 -2 and <br /> District 2 -1 less debt service payments due 3/1/93 and 2/1/93 <br /> respectively to the TIF District No. 1 Construction Fund <br /> (formerly TIF District No. 1 Pool) and TIF District No. 2 <br /> Construction Fund. This action is proposed for accounting <br /> purposes and will allow consideration of the refunding issue to <br /> maximize savings possibilities and future planning of <br /> expenditures within the Development District. <br /> ATTACHMENTS: <br /> A Memo from Apfelbacher, dated 12/8/92 <br /> B Resolution R -92 -52 <br /> ACTION REQUESTED: <br /> Adopt resolution transferring and establishing TIF fund accounts <br /> as described. <br /> .2 ;<ent Consent Consent C <br /> onsent 3 ?r;:�?:::::;<2� Consent <br /> :2:;; <br /> Cons ent `ons Consent <br />