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MINUTES <br />CITY COUNCIL <br />JULY 13, 1994 <br />The Administrator pointed out that no fee was collected <br />at the initial issuance. The Administrator did not <br />believe 1/4 percent on refundings would make or break <br />any refundings. <br />Hanson pointed out that the City would always have the <br />option of waiving the fee. <br />Mr. LaValle introduced the following resolution and <br />moved its adoption: <br />RESOLUTION NO. 94-7-203 - ADOPTING A TAX EXEMPT <br />FINANCING FEE OF 1 PERCENT AT INITIAL ISSUANCE OF SUCH <br />FINANCING AND 1/4 PERCENT ON REFUNDINGS WITH THE FEE <br />TO BE A ONE-TIME FEE COLLECTED AT CLOSING <br />The foregoing resolution was duly seconded by Scalze. <br />Ayes (5) LaValle, Scalze, Hanson, Morelan, Pedersen. <br />Nays (0). Resolution declared adopted. <br />FISCAL The City Administrator reported that he has received <br />ADVISOR proposals for fiscal advisory services from five firms. <br />The Administrator indicated that while he had hoped to <br />recommend two firms for interview, he can see merits in <br />interviewing all five. The Administrator asked how the <br />Council wanted to conduct the interviews - either with <br />full Council present, by committee, or the <br />Administrator conducting the interview and recommending <br />to the Council. <br />Morelan and Pedersen expressed their interest in being <br />involved in the interview process. <br />Mr. LaValle introduced the following resolution and <br />moved its adoption: <br />RESOLUTION N0. 94-7-204 - APPOINTING THE CITY <br />ADMINISTRATOR, COUNCIL MEMBERS MORELAN AND PEDERSEN AS <br />A COMMITTEE TO INTERVIEW FIRMS TO PROVIDE FISCAL <br />ADVISORY SERVICES, WITH THAT COMMITTEE TO MAKE A <br />RECOMMENDATION TO THE FULL COUNCIL <br />The foregoing resolution was duly seconded by Scalze. <br />Ayes (5) LaValle, Scalze, Morelan, xanson, Pedersen. <br />Nays (0). Resolution declared adopted. <br />27 <br />