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<br />rtl.Ntr'rrs <br />C:i.t:y Cotmci.l <br />P9ay 23, 19f34- <br />Lee review the Pl.anner's reports on Chi.s. Fak~ey staCed Y.h~.it he thoup,ht <br />Excavation th~C thc R-1 area would be hi.;;Fter. Fahey stat<~d that: i.f `4r. Lee is <br />(ConC.) o~rorig, tkien a l.ot of materi.al }ias been moved out of the mrea that. <br />should not: have bee.n. <br />Pahey fel.t t:hat act::ion on the mutter should be postponed for two G~eeks <br />unt~i.1 the Planner and Finpi.neer can revi.ew plans and Counc:i.1 minutes <br />can be revi.ewed. <br />Kr. Pahey commented to the En~;i.neer t:.hat thi.s matter shoul.d have <br />been rev:iewed pri.or to the meeting. The Engineer sCated Chat he <br />wal.ked the prop~rty ~bout a week ago and he wi.11 follow through <br />on the mzittes. <br />r4rs. Nardini. aslced i.L the cease and desi.st. order on Cl~e properCy <br />should remai.n in eftect at thi.s time. Kr. Fahey stat:ed that he was <br />i.n ap;reement mi_th that. <br />Industri.al ilr. Hanson openect Che publ.ic heari.ng on the Larry Lee request Lor <br />Revenue approval of: ~i.ndustrial revenue bonds i.n the amount of $10,000,000. <br />l3onc.l , <br />0. Lar.ry I.,ee Mr. Tahey aslced if. the City should go ahead coith this approval or <br /> waiC untiil Che rezoning matter i.s re,olved. <br />Agenda <br />ICem No. 6 ~Qr. Lee reported that he. has t:wo bui.l.cLi.ngs Chat he can ~;o aheacl ~oith <br /> ~t th9.s t?me. `"[r. Lee st:ated Chat the amount of: the bonds is i.mmaterial. <br /> as he can only draw from the f.unds as e~ich buil.di.ng is devel.oped. <br /> Mr. 7..ee z~1so exp~lained thaC t:here :i.s legislat~ion that w1.1.1 go into <br /> effect at t:he end of the month thaC wi.ll eff:ect hi_s abi-l.ity to get <br /> the amotmT. of money he is requestinp at [hi.s t:i.me. <br /> Mr. Lee requesCed thlt the approval. be ~;iven at this Cime and if: t}.ie <br /> rezon:ing i_s not approved, tlien he would not be able to use t:he money. <br /> P1rs. Scal.~e stated th~t she would l~i.ke t:o see i.ndustrial. revenue <br /> bond> used on tl~i.s area o£ the Ci.ty< <br />A res~i.dent of the area aslced how the approval. oL such bonds elfect the <br />City. Nlr. Hanson explaa.ned t:hat tl~~e bonds a11ow a developex Co geC <br />a reduced rate of i.nterest. flowever, r_here is no 1~.iabi.l.i.ty that .falls <br />baclc on the City :i.n approvi.ng these bonds. <br />Mrs. NarcLini. i.ntroduced t':te [o1low:i.ng resolution and moved i.ts adopCi.on: <br />RESOI,UT,IO^7 N0. 84-5-228 - CI.,OSING 'CHT' PIJSLIC <br />RF,ARING ON T'1~73 :CNDUSTRIA:G RkiV1:NU13 ~30NDS RLlQUFS'CPD <br />BY 0. 7.,ARRX L~E <br />pa~;e -Ei- <br />