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MINUTES <br />City Council <br />May 18, 1982 <br />1981 AudiC Mr. Voto commented that the first decision the Council would <br />(Cont.) have to make is if the City wants Che developer in. If. the City <br />does, then Che City shoul.d be sure that assessments wo~ld be paid. <br />Mr. Flanson commented that the City could eLiminate the 20% of <br />assessments going unto the general taxes and assess an improvement <br />L00%. Mr. Voto agreed that this could be done, but the Ci.ty must <br />make sure that assessment money is coming in. <br />Mr. Fahey commented that t.he pol.icy of assessing 80% - 20% would be <br />a difficult one to change. <br />Mr. Fahey introduced the following resol.uti.on and moved its adoption: <br />1.2ESOLUTION N0. 82-5-275 - APPROVING <br />THL ]:NTERFUND AUDIT ADJUSTMEN'PS <br />OUTLINED TN F;XHIV~TT 7 DATGll DECBMHER 31, 1981 <br />FKOM 'LHE ANNUAL PINANCIAL REPORT OF THE CITY <br />OF LI7.'TLE CANADA, 'LHESE ADJUSTMEN'I.'S TOTALING <br />$243,337.32 <br />The foregoi.ng resolution was duly seconded by Mr. Hanson. <br />Ayes (3) Fahey, Hanson, Nardini. <br />Nayes (0). <br />Resol~tion declared adopted. <br />This resoLution appears in ResoLution Book No. 8, Pages 226 and 227. <br />Mr. Hanson commented to Mr. Voto Chat the L981. Audit Keport was <br />very adequate and he particularly l.iked the report on finances of <br />local. governments. <br />Mr. Voto inFormed the Council that his firm intends to stay abreast <br />of the State situation as best they can and will keep the City informed. <br />Mr. Voto also stated that during 1.981 City governmenC was not responsible <br />for increased taxes, it was the School lli.strict and County government <br />that was responsible for this. <br />Mr. Voto also commented on the drop in local government aids which <br />effected the City. <br />Mr. Hanson commented that when the 1.966 and 1.967 bond issues are <br />eliminated, the City will. be in a much better positi.on. These wi11 <br />be eliminated in the not too di.stant future. <br />Mrs. Scalze asked the purpose for Cemporary bonds and then refinancing <br />Chese bonds. Mr. Voto replied that when there is an unstable market, <br />a temporary issue is sought with the hope that the market will <br />improve. <br />Page -7- <br />