Laserfiche WebLink
MINi7'PES <br />CITY COUNCIL <br />JI~NUARY 12, 1994 <br />Hanson pointed out that the City has some capital <br />improvement funds available at the present time, and <br />other funds will not be available until the County <br />disburses levy funds later in the year. <br />The City Administrator reported that the City has made <br />very few capital improvement expenditures in the past <br />few years except for park improvements which were <br />funded with charitable gambling dollars. The City's <br />Capital Improvement Fund has had minimal dollars since <br />day one compared to the City~s capital improvement <br />needs. The Fund has been built up through the transfer <br />of reserves, one-time revenues from park development <br />fees, and the City's decision to reallocate a portion <br />of the savings from refunding the 1978 bond issue <br />($84,000 in 1994). That savings is available for a <br />four year period, after which time it will again be <br />required to retire debt. The Administrator also <br />reported that a significant amount of the City's debt <br />is retired in 2000 with debt being eliminated in the <br />year 2003. <br />Morelan asked about reference to impact and dedication <br />fees in the oakdale policy. <br />The Administrator believed that this referenced park <br />development and dedication fees, and possibly a <br />developer paying fees associated with a public <br />improvement. <br />Pedersen questioned the meaning of the second sentence <br />under General Policv in the Oakdale policy. <br />The Administrator suggested that this statement meant <br />that existing development would be maintained prior to <br />new development occurring. <br />Morelan pointed out Item #3 under Funding Princiqles in <br />the Oakdale policy, and asked if future operating costs <br />associated with new capital improvements were projected <br />and included in operating budget forecasts. <br />The Administrator replied that the City has tried to do <br />this to the extent measurable, however, did not believe <br />there were any measurable future operating costs <br />associated with proposed 1994 capital improvements. <br />The Administrator also pointed out the potential for <br />decreased operating costs based on savings in <br />Page 2 <br />