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MINUTES OF THE SPECIAL MEETING <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />December 31, 1985 <br />Pursuant to due call a special meeting of the Council of the City <br />of Little Canada, Minnesota was held on the 31st day of December, <br />1985 in the Council Chambers of the City Center located at 515 <br />Little Canada Road in said City. <br />Acting Mayor Beverly Scalze chaired the meeting and called it to <br />order at 3:37 P.M. and the following mem bers we re present at roll <br />call: <br />MEV~BERS PRESENT: Acting Mayor P~rs. Beverly Scalze <br />Councilman Mr. William Blesener <br />Councilman Mr. Rick Collova <br />Councilwoman Ms. Mugs Nardini <br />PIEMBERS ABSENT: Playor Mr. Michael Fahey <br />ALSO PRESNET: City Clerk Mr. Joseph Chlebeck <br />Recording Secretary Mrs. Kathleen Glanzer <br />Cedar Mrs. Scalze reported that the Mayor called this emergency meeting <br />Lakeside because the bond resolution for the Cedar Lakeside Project had to <br />Project be acted upon before the end of 1985. <br />Industrial <br />Revenue Mr. Jim Rutzick reported that the reason another bond resolution <br />Bonds needed to be acted upon is that there is a change in the purchaser <br />of the bonds from Continental Bank to Piper, Jaffray & Hopwood. <br />On December 30 the Council approved a bond resolution which indicated <br />Continental Bank as the bond purchaser. Piper, Jaffray & Hopwood <br />has since replaced Continental Bank. <br />It was pointed out that under Item 2 of the resolution the figure of <br />48,000 square feet has been changed to 160,000 square feet. Mr. <br />Rutzick reported that this was an error in the previous resolution. <br />Ms. Nardini introduced the following resolution and moved its adoption: <br />RESOLUTIOPI N0. 85-12-599 - AN AMENDED RESOLUTION <br />AUTHORIZING A PROJECT AND HOUSING PROGRAP~I UPIDER <br />MINNESOTA STATUTES, CHAPTER 462C (MUNICIPAL HOUSING <br />PROGRAMS) AND AUTHORIZING.THE ISSUAPICE OF MULTIFAMILY <br />HOUSING REVENUE BONDS TO FINANCF THE PROJECT AND <br />PROGRAM AND AUTHORIZING THE EXECUTION OF VARIOUS <br />DOCUMENTS IN CONNECTION THEREWITH (CEDAR LAKESIDE <br />PROJECT) APdD DECLARING THAT TO THE BEST OF THE COUNCIL'S <br />KNOWLEDGE AND THAT OF JIM RUTZICK, THE ONLY CHANGFS IN <br />THIS RESOLUTION FROM THAT OF RESOLUTION N0. 85-12-596 <br />IS THE CHANGE OF TNE PURCHASER OF THE BONDS FROM <br />Page -1- <br />