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MINUTES <br />CITY COUNCIL <br />DECEMBER 2, 1997 <br />There was no one present from the general public wishin~ to comment on <br />this matter. <br />Upon motion by LaValle, seconded by Morelan, the public hearing was <br />closed. <br />Morelan noted that the bond issues are divided into two groups. Ippel <br />pointed out that the second bond issue is subordinate to the first and will <br />be repaid after the first bond issue is satisfied. <br />The City Administrator noted that the City's approval allows issuance of <br />the tax-exempt bonds. However, these bonds are not an obligation of the <br />City. <br />Mr. LaValle introduced the following resolution and moved its adoption: <br />RESQI. UTION NO. 97-12-296 -AUTHORIZING THE ISSUANCE OF <br />$16, 595, 000 MUI.TIFAMILY HOUSING REVENUE 130NDS <br />(HOIJSING AI,TERNATIVES DEVELOPMENT COMPANY <br />PRO.IECT), SERIES 1997A AND $3,100,000 SU730RDINATE <br />MDLTIFAMILYHOUSING REVENUE I30NDS (HOUSING <br />ALTERNATIVES I)EVELOPMENT COMPANYPROJECT), SERIES <br />199713 AND AUTHORIZING THE EXECUTION OF THE <br />NECESSARY DOCUMENTS 73Y THE MAYOR AND CITY <br />ADMINISTRATOR <br />The foregoing resolution was duly seconded by Morelan. <br />Ayes (4) LaValle, Morelan, Scalze, Fahey. <br />Nays (0). Resolution declared adopted. <br />Echtenkamp thanked the Council for the approval and indicated that <br />HADC and Goldmark Investment looked forward to working with the City <br />in the future. <br />Ippel indicated that she would ensure the documents contained the City's <br />specifications. <br />EXEMPTION Council reviewed the application submitted by the North St. Paul Lions <br />FROM Club for a raffle to be held at The Venetian Inn on Sunday, December 7, <br />LAWFUL 1997. It was noted that Sheriffls Department Background Checks are <br />GAMBLING pending. <br />LICENSE <br />Mr. Morelan introduced the followin~ resolution and moved its adoption: <br />2 <br />