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z~aIi~TU~PN~S OF 2H~: SPECSAL NiEE`1.'IN(~ <br />C:l`I'Y COUNCIL <br />lil'I'TLE CANADA9 MINNESO^1A <br />August 59 1y81 <br />F'ursuant to due call aaad notice thereo.f a special meeting of the <br />Council of the City of liitt:le Canaaa, Minrzesota was held on the <br />5th day o~' August, 19E31 in the Couzicil Chambers of the City Center <br />located at 515 Little Caz~ada Hoad in said City, <br />'Ptxe rlayor, Mr, Naymond Elarxson, chaired and called the meeting to <br />order at 7c30 P.iK. <br />~~iBF'RS PRESEII^1 a l~iayor Ntr, Its.ymond Hanson <br />Councilman [~ix°, yIichael Fahey <br />Counci7an~n Nir. llennis I~'oxsbexg <br />L'ouncilwoniari ~Irs, Mugs Nardini <br />Councilwoman Mrs, Beverly Scalze <br />AliSO YR~;SEN`l'o City C.Lerx P'Ir. Joseph Chlebeck <br />lleputy Clerk Nirs. Annette I+reeman <br />City Attorney Mr, Clayton k'arks <br />Consul.ting Engineer NIr, Dona:Ld Carle,y (arrived 9000 P.f~i.) <br />Auditor ~4r. Ftobert Voto of DeLaHunt ~oto & Co, <br />Recording Secretary Mrs. Kathleen G1.anzer <br />City Audit i~ir. Robert Voto of DeLaHunt Voto & Co.' the Gity~s auditor, submitted <br />to the Council the City of liittle Ganadaos Annual Financial Report <br />azad Kanagement t~eport azzd Hocorrunendations. NIr, Voto informed the <br />Council that these reports ~re dated December 319 1980, but were <br />recerztly updated through June 30, 1981. i~ir, Voto informed the Council <br />that the City of Little Canada is in sound financial condition to <br />date, <br />i~ir. V'oto commented that due to changes by the State Legislature <br />there wil'1 not be the increases in State aid to cities that thexe <br />has been in the past. <br />There has also been a decrease in the amount o£ property ta:ces paid <br />by l.oca,l property owners due to ancreases in the State~s Homestead <br />Credit, <br />N1r, Voto a.nformed the Council that the State has made a change in the <br />~i~ning of local goverxament aid payments to i~Iinnesota cities, Such <br />payments will be msde in the last si.x rnonths of each year rather than <br />quarterly as has been the case in the past. Therefore9 the City wi].:1. <br />be receivixig :its first State aid pa.yment after July 1.5 of each year> <br />Tkze reason for this change is due to the cash flow problem of the <br />State, The State is, in e£fect, passing a.ts cash £:l.ow problem on to <br />t.he City. <br />Voto also in£ormed Council members that the City will have ~ shortage <br />based on proJQ~ted :1982 revenues, It is DeLaHunt Voto & Co,os <br />recommendation that to offset this shortage the City reserve from <br />~25,OU0 to $50,OU0 ea.ch year, <br />Page ..l«. <br />