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MINUTES <br />CITY COUNCIL <br />DECEMBER 15, 1992 <br />RESOLUTION NO. 92-12-464 - AUTHORIZING THE PURCHASE OF <br />CAT IT18F IN THE AMOUNT OF $74,446.48 BASED ON THE <br />RECOMMENDATION OF THE CITY ADMINISTRATOR AND PUBLIC <br />WORKS SUPERINTENDENT WITH FINANCING OF THE PURCHASE TO <br />OCCUR AS RECOMMENDED BY THE CITY ADMINISTRATOR UNLE5S <br />HE IDENTIFIES A BETTER SOURCE OF FINANCING <br />The foregoing resolution was duly seconded by Scalze. <br />Ayes (3) Blesener, Scalze, Hanson. <br />Nays (1) LaValle. Resolution declared adopted. <br />ST. JUDE The City Administrator reported that pursuant to the <br />TIF NOTE development agreement with St. Jude Medical, the first <br />note is ready for issuance for the Tax Increment <br />Financing assistance on the project. The second note <br />will be issued at completion of the project. The <br />Administrator noted that this is a"pay as you go" <br />district, and the amounts due in the note are only paid <br />to the extent sufficient revenues have been generated <br />to support the debt. The Administrator reported that <br />he has reviewed and revised the note reducing it by <br />approximately $64,000 for some costs that have been <br />incurred but not yet paid. This has been reviewed with <br />St. Jude and they are in agreement. <br />Mr. LaValle introduced the following resolution and <br />moved its adoption: <br />RESOLUTION N0. 92-12-465 - APPROVING THE ISSUANCE OF <br />THE ST. JUDE TIF NOTE R-1 AS PRESENTED BY THE CITY <br />ADMINISTRATOR AND AS PROVIDED FOR IN ACCORDANCE WITH <br />THE DEVELOPMENT AGREEMENT FOR THE PROJECT, WITH SAID <br />NOTE TO BE DATED DECEMBER 1, 1992 <br />The foregoing resolution was duly seconded by Scalze. <br />Ayes (4) LaValle, Scalze, Hanson, Blesener. <br />Nays (0). Resolution declared adopted. <br />FIRE DEPT. The City Council acknowledged the 1993 slate of <br />SLATE OF officers submitted by the Little Canada Fire <br />OFFICERS Department. Council acknowledged the outgoing officers <br />and the excellent job that they have done in serving <br />the City. <br />CHARITABLE Mike Fahey appeared before the Council representing the <br />GAMBLING four charities operating at the Little Canada Bingo <br />Hall. Fahey reported that for the last several months <br />these charities have been having on-going negotiations <br />with Movers Warehouse and the Market Place regarding <br />long-term leases for the bingo hall. During those <br />negotiations it has become apparent that Movers <br />Page 21 <br />