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MINU7'ES <br />CiCy Counci.l <br />Jtme 23, 1982 <br />Meta1-troni.cs <br />( ConT.. ) <br />In~ustr.ial <br />Kevenue <br />33ond Pees <br />Non-Agenda <br />Item No. 1 <br />Nayes (0). <br />Reso).uk.i.on declared adopted. <br />Thi.s resolution appears in Resoluti.on book No. 8, Pages '1_f31 and 282. <br />The £orego~ing rsoluLi.on was dul.y seconded Uy Mrs. Nard:ini. <br />Ayes (5) Scalze, Nardini, }lanson, Porsberg, I'ahey. <br />Mrs. Nardi.ni suggested that the Counc:il discuss the fees charged by <br />the City for the issuance of industrial revenue boncls. <br />Mr. Pahey stated Chat compared to what oCher. ci.ti.es are doinp.,, Che <br />CiCy ~is Cakinp, it on the chin. L'ahey sugflested that the Counci.l. <br />review the ~^500 fee. <br />The Ci.ty Clerk stated Chat Vadnai.s Itei~hts feels tliat between the t:ime <br />oL the application for bonds and Che f:i.ni.shed pr.oject there is the <br />cost incurred by the Ci.ty of fire protect:ion and poli_ce protecti.on. <br />'Chese charges are incurred by the City beEor.e the proper.ty is paying <br />taxes. The CLerk stated Chat it i.s about three years bef:ore a clevelopment. <br />begins payi.n~; Caxes. <br />Mr. Pahey pointed out that MGT4 has al.ready received f:inal appr.oval <br />from the City for. bonds. <br />The Cl.erlc sCated that al.l. cosCS i.ncurred f'or the CiCy Attor.ney are <br />sent directly to the developer. <br />Mr.s. Scalre commented that a development not us~ing ~i.ndustrial revenue <br />bonds as fi.nancing escapes the charge f.or the addit:i.onal police and <br />f.:ir.e proCecLion. <br />Mr. 1?ahey commented that he felt T.he Ci.ty's fee shoul.d be i.ncreased <br />Co 41,000. I~ahey then stated that the appli.cation f.ee shouldremain <br />ar. ~500 and the Ci.ty shoul.d char.~e an additi.onal t~1,000 fee £or <br />admin:istrati.ve cost,. Pahey felt. that thi.s new fee should appl.y <br />to Metal-trona.cs, but not to MGM as they have recei.ved final approval. <br />The Ci.ty Attorney aslced i.f the City has a wri.tten poli.cy on thiso 7'he <br />City C1erl< repl:i.ed that the C~.ity has a resoluti.on on the books with <br />regard to the appli.caCion fee. <br />Pahey su~;~ested Chat the admi.nistrati.on i'ec~ should be collecCed at Y.he <br />time T.hat f.inal approval i.s given. Thi, f:ee will cover the aclmin~istrat.ion <br />cosL-s that the City ~aill i.ncur over. the t.ife oE the bond. <br />Mr.. Pahey introduced Che following resoluti.on anrl moved i.ts acioption: <br />RESO,LUTION N0. 8?-6-332 - SET7'ING AN E~DDITIONAL <br />ADMINISTRATION £Ei3 OP ~G1,000 POR INDUSTRIAL <br />RI.sVENUE IIONI)S TO 13E COLLECTPD AT THE TIA1~ OP PINAI, <br />APPBOVAI, OP THE BONDS idITH 'L}IL PROVISION TAAT THP <br />NEW PEE TJILL 13E CI~tARGT?D PROSPGCTIVFLY P'OR ALL <br />INDUS'CI.2IE~L REVliNU13 I~ONDS Wi~IICft ftAV~ NO'P RPCEIVPD <br />TINAL APPROVAL W7.TF1 TH~ INSTRUCTION TO THP CITY ' <br />CLPRK TO ADVISE ALL DEV~L,O7?ERS TO WI~IICkt TI~IIS NL:W <br />RULT' APPLIES OF THE AllDITI0N9L CHARGE <br />P1~8 -~.~4~- <br />